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7. Income Taxes (Tables)

12 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Components of net deferred tax assets (liabilities)

		2015				2014
Deferred tax assets:
Percentage depletion carryforwards		$	1,535,126			$	1,463,834
Deferred stock-based compensation			36,958				29,475
Asset retirement obligation			384,467				298,089
Net operating loss			720,308				298,736
Derivative instruments			—				13,944
Other			11,111				9,673
			2,687,970				2,113,751
Deferred tax liabilities:
Excess financial accounting bases over tax bases of    property and equipment			(3,348,840	)			(2,972,200	)
Net deferred tax liabilities		$	(660,870	)		$	(858,449	)

Income tax provision constituents

		2015				2014				2013
Current income tax expense		$	—			$	6,500			$	—
Deferred income tax (benefit) expense			(197,499	)			5,250				(31,504	)
Total income tax provision:		$	(197,499	)		$	11,750			$	(31,504	)
Effective tax rate			(37	%)			4	%			(15	%)

Reconciliation of the provision for income taxes to income taxes computed

		2015				2014				2013
Tax expense at federal statutory rate (1)		$	(183,085	)		$	106,374			$	(70,678	)
Statutory depletion carryforward			(71,292	)			(127,204	)			—
Effect of graduated rates			12,221				(13,841	)			3,391
Permanent differences			44,576				46,421				35,783
Total income tax (benefit) expense		$	(197,499	)		$	11,750			$	(31,504	)
Effective income tax rate			(37	%)			4	%			(15	%)

(1) The federal statutory rate was 34% for fiscal years ending March 31, 2015, 2014 and 2013.

Reconciliation of the beginning and ending balances of unrecognized tax benefits

		2015				2014				2013
Unrecognized tax benefits at beginning of period		$	679,000			$	677,000			$	677,000
Additions based on tax positions related to the current year			—				2,000				—
Changes to tax positions of prior years			—				—				—
Settlements			—				—				—
Expirations			—				—				—
Unrecognized tax benefits at end of period		$	679,000			$	679,000			$	677,000

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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.

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