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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2014
Income Tax Disclosure [Abstract] |
Components of net deferred tax assets (liabilities) |
|  | 2014 |  |  | 2013 |
Deferred tax assets: |  |  |  |  |  |
Percentage depletion carryforwards |  | $ | 1,463,834 |  |  | $ | 1,336,630 |
Deferred stock-based compensation |  |  | 29,475 |  |  |  | 24,003 |
Asset retirement obligation |  |  | 298,089 |  |  |  | 252,158 |
Net operating loss |  |  | 298,736 |  |  |  | 503,659 |
Derivative instruments |  |  | 13,944 |  |  |  |  |
Other |  |  | 9,673 |  |  |  | 3,237 |
|  |  | 2,113,751 |  |  |  | 2,119,687 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Excess financial accounting bases over tax bases of property and equipment |  |  | (2,972,200 | ) |  |  | (2,972,886 | )
Net deferred tax liabilities |  | $ | (858,449 | ) |  | $ | (853,199 | )
Income tax provision constituents |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Current income tax expense |  | $ | 6,500 |  |  | $ | - |  |  | $ | - |
Deferred income tax expense (benefit) |  |  | 5,250 |  |  |  | (31,504 | ) |  |  | (27,960 | )
Total income tax provision: |  | $ | 11,750 |  |  | $ | (31,504 | ) |  | $ | (27,960 | )
Effective tax rate |  |  | 4 | % |  |  | (15 | %) |  |  | (9 | %)
Reconciliation of the provision for income taxes to income taxes computed |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Tax expense at federal statutory rate (1) |  | $ | 106,374 |  |  | $ | (70,678 | ) |  | $ | 102,691 |
Statutory depletion carryforward |  |  | (127,204 | ) |  |  | - |  |  |  | (155,734 | )
Effect of graduated rates |  |  | (13,841 | ) |  |  | 3,391 |  |  |  | (16,940 | )
Revision of prior year estimates |  |  | - |  |  |  | - |  |  |  | 4,314 |
Permanent differences |  |  | 46,421 |  |  |  | 35,783 |  |  |  | 30,210 |
Other |  |  | - |  |  |  | - |  |  |  | 7,499 |
Total income tax expense (benefit) |  | $ | 11,750 |  |  | $ | (31,504 | ) |  | $ | (27,960 | )
Effective income tax rate |  |  | 4 | %+ |  |  | (15 | %) |  |  | (9 | %)
(1) | The federal statutory rate was 34% for fiscal years ending March 31, 2014, 2013 and 2012.
Reconciliation of the beginning and ending balances of unrecognized tax benefits |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Unrecognized tax benefits at beginning of period |  | $ | 677,000 |  |  | $ | 677,000 |  |  | $ | 670,000 |
Additions based on tax positions related to the current year |  |  | 2,000 |  |  |  | - |  |  |  | - |
Changes to tax positions of prior years |  |  | - |  |  |  | - |  |  |  | 7,000 |
Settlements |  |  | - |  |  |  | - |  |  |  | - |
Expirations |  |  | - |  |  |  | - |  |  |  | - |
Unrecognized tax benefits at end of period |  | $ | 679,000 |  |  | $ | 677,000 |  |  | $ | 677,000 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
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