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Consolidated Statements of Operations (Unaudited) (USD $)
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3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2013
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Dec. 31, 2012
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| Income Statement [Abstract] | ||||
| Oil & Gas Sales | $ 34,944 | $ 63,880 | $ 93,969 | $ 112,649 |
| Operating expenses: | ||||
| Lease operating expense, severance taxes and ARO accretion | 10,695 | 22,087 | 70,545 | 36,888 |
| Selling, general and administrative expenses | 84,224 | 91,886 | 243,859 | 240,211 |
| Compensation | 47,000 | 150,001 | 87,500 | |
| Depreciation, depletion, and amortization | 16,995 | 23,129 | 48,041 | 60,545 |
| Total operating expenses | 158,914 | 137,102 | 512,446 | 425,144 |
| Operating loss | (123,970) | (73,222) | (418,477) | (312,495) |
| Other income (expense): | ||||
| Gain (Loss) on conversion of notes payable | (9,900) | (57,050) | ||
| Interest expense, net | (24,731) | (39,113) | (74,476) | (113,423) |
| Total other income (expense) | (34,631) | (39,113) | (131,526) | (113,423) |
| Loss before income tax | (158,601) | (112,335) | (550,003) | (425,918) |
| Provision for income taxes | ||||
| Net loss | (158,601) | (112,335) | (550,003) | (425,918) |
| Preferred stock dividends | (14,000) | (10,000) | (41,780) | (30,000) |
| Net loss attributable to common shareholders | $ (172,601) | $ (122,335) | $ (591,783) | $ (455,918) |
| Net loss per share - basic and diluted | $ (0.014) | $ (0.038) | $ (0.062) | $ (0.143) |
| Weighted average shares outstanding - basic and diluted | 11,308,388 | 3,228,491 | 9,578,644 | 3,190,032 |