v3.7.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Mar. 31, 2016
Current Assets    
Cash $ 705,234 $ 197,662
Restricted Cash 1,684,527  
Accounts Receivable 1,218,251 93,523
Inventories 202,677 194,997
Other Current Assets 119,995 56,805
Total Current Assets 3,930,684 542,987
Property and Equipment    
Oil and Gas Properties - Subject to Amortization 73,791,362 48,518,512
Oil and Gas Properties - Not Subject to Amortization 28,947,400  
Other Property and Equipment 441,201 420,351
Total Property and Equipment 103,179,963 48,938,863
Accumulated Depletion, Depreciation, Amortization and Impairment (67,398,804) (34,748,434)
Total Property and Equipment, Net 35,781,159 14,190,429
Other Assets 146,369 58,716
Total Assets 39,858,212 14,792,132
Current Liabilities    
Accounts Payable 3,094,131 2,423,949
Common Stock Payable 59,471 71,572
Accrued Expenses 778,736 494,232
Notes Payable, Net of Discount 1,229,021 202,000
Current Portion of Long-Term Notes Payable, Net of Discount 43,052,628 7,153,734
Convertible Notes Payable, Net of Discount   739,817
Total Current Liabilities 48,213,987 11,085,304
Long-term Notes Payable, Net of Discount 145,695  
Asset Retirement Obligation 2,045,847 1,179,170
Derivative Liability 21,662 126,960
Total Liabilities 50,427,191 12,391,434
Commitments and Contingencies (see Note 8)  
Stockholders' Equity (Deficit)    
Common Stock, 200,000,000 Shares Authorized of $0.001 Par Value 27,115,868 and 1,605,224 Shares Issued and Outstanding, respectively 27,116 1,605
Additional Paid-in Capital 134,894,736 59,365,887
Stock Dividends Distributable 598,650  
Accumulated Deficit (146,090,034) (56,966,795)
Total Stockholders' Equity (Deficit) (10,568,979) 2,400,698
Total Liabilities and Stockholders' Equity (Deficit) 39,858,212 14,792,132
Series B Preferred Stock [Member]    
Stockholders' Equity (Deficit)    
Preferred Stock 552  
Series C Preferred Stock [Member]    
Stockholders' Equity (Deficit)    
Preferred Stock $ 1  
Series A Preferred Stock [Member]    
Stockholders' Equity (Deficit)    
Preferred Stock   $ 1

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