v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Net Operating Revenues    
Crude Oil $ 1,654,589 $ 968,146
Natural Gas 1,636,212  
NGL 2,011,223  
Total 5,302,024 968,146
Operating Expenses    
Lease Operating Expenses 3,261,082 740,756
Severance and Property Taxes 256,263 122,879
Depreciation, Depletion, Amortization and Accretion 2,698,738 879,850
Impairment of Oil and Gas Properties 79,142,113 21,391,490
General and Administrative 4,044,148 2,500,814
Total 89,402,344 25,635,789
Operating Loss (84,100,320) (24,667,643)
Other Expense (Income)    
Interest Expense 3,165,151 696,506
Change in Fair Value of Derivative Liability 105,298  
Other Expense, Net 1,767,470 85,606
Total Other Expense 5,037,919 782,112
Loss Before Income Taxes (89,138,239) (25,449,755)
Income Tax Benefit 15,000  
Net Loss $ (89,123,239) $ (25,449,755)
Net Loss Per Common Share    
Basic and Diluted (in dollars per share) $ (6.94) $ (17.58)
Weighted Average Number of Common Shares Outstanding    
Basic and Diluted (in shares) 12,848,771 1,448,025

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