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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
 9 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:    
Net (loss) income $ (102,034) $ 234,618
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income tax benefit (150,083) (50,109)
Excess tax benefit from share based payment arrangement    (124,880)
Stock-based compensation 115,502 76,761
Depreciation, depletion and amortization 774,814 702,362
Accretion of asset retirement obligations 28,822 27,033
Other 1,466   
Changes in assets and liabilities:    
(Increase) decrease in accounts receivable (95,338) 19,180
(Increase) decrease in prepaid expenses (72,185) 3,151
Increase (decrease) in income taxes payable    124,880
Increase (decrease) in accounts payable and accrued expenses 5,327 (12,164)
Net cash provided by operating activities 503,359 1,000,832
Cash flows from investing activities:    
Additions to oil and gas properties (1,018,346) (627,562)
Acquisition of business 1,150,000   
Additions to other property and equipment (13,806)   
Proceeds from sale of oil and gas properties and equipment 68,974 470,729
Net cash used in investing activities (2,113,178) (156,833)
Cash flows from financing activities:    
Proceeds from exercise of stock options 16,313   
Acquisition of treasury stock    22,780
Reduction of long-term debt (250,000) (1,050,000)
Proceeds from long-term debt 1,450,000   
Excess tax benefit from share based payment arrangement    124,880
Net cash provided by (used in) financing activities 1,216,313 (947,900)
Net decrease in cash and cash equivalents (393,506) (103,901)
Cash and cash equivalents at beginning of period 498,681 179,071
Cash and cash equivalents at end of period 105,175 75,170
Supplemental disclosure of cash flow information:    
Cash paid for interest 31,752 23,371
Income taxes paid      
Non-cash investing and financing activities:    
Asset retirement obligations 23,130 11,648
Acquisition of TBO Oil & Gas, LLC
    
Non-cash investing and financing activities:    
Fair value of assets 1,277,106  
Cash paid 1,150,000  
Liabilities assumed $ 127,106