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Oil and Natural Gas Costs (Tables)

12 Months Ended

Mar. 31, 2019

Extractive Industries [Abstract]

Schedule of Cost Related to Oil and Gas Activities

The costs related to the Company’s oil and natural gas activities were incurred as follows for the years ended March 31:

		2019				2018
Property acquisition costs:
Proved		$	-			$	-
Unproved			-				-
Exploration			14,555				-
Development			803,602				1,099,051
Capitalized asset retirement obligations			8,658				6,689
Total costs incurred for oil and gas properties		$	826,815			$	1,105,740

Schedule of Aggregate Capitalized Costs Relating Oil and Gas Property Activities

The Company had the following aggregate capitalized costs relating to its oil and gas property activities at March 31:

		2019				2018
Proved oil and gas properties		$	35,907,677			$	35,224,784
Unproved oil and gas properties:
subject to amortization			-				-
not subject to amortization			-				-
			35,907,677				35,224,784
Less accumulated DD&A			27,154,343				26,355,604
		$	8,753,334			$	8,896,180

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- References

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Tabular disclosure of aggregate capitalized costs relating to an enterprise's oil and gas producing activities and the aggregate related accumulated depreciation, depletion, amortization, and valuation allowances.

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Tabular disclosure of the aggregate of costs (whether the costs are capitalized or charged to expense at the time they are incurred ) incurred for the year in oil and gas property acquisition, exploration and development activities.

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