PROPERTY AND EQUIPMENT (Details) - USD ($) |
Sep. 30, 2020 |
Mar. 31, 2020 |
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Components of oil and gas properties recorded at cost | ||
Oil and gas properties subject to amortization | $ 50,413,792 | $ 50,443,883 |
Oil and gas properties not subject to amortization | 28,016,989 | 28,016,989 |
Capitalized asset retirement costs | 1,570 | 1,570 |
Total oil & natural gas properties | 78,432,351 | 78,462,442 |
Accumulated depreciation, depletion, and impairment | (78,356,957) | (78,351,825) |
Net Capitalized Costs | $ 75,394 | $ 110,617 |
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- Definition Amount of accumulated depreciation, depletion, amortization and valuation allowance relating to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of asset retirement costs previously incurred and capitalized separately from the capitalized amount of the associated long-lived assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The sum of the capitalized costs incurred, as of the balance sheet date, of unproved properties excluded from amortization including acquisition costs, exploration costs, development costs, and production costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The sum of capitalized costs relating to oil and gas producing activities before accounting for accumulated depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- Definition Net amount of capitalized costs relating to oil and gas producing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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X | ||||||||||
- References No definition available.
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- Definition Capitalized costs of proved properties incurred for any combination mineral interests acquisitions; wells and related equipment; support equipment and facilities; and uncompleted wells and equipment and other costs not previously disclosed within this table. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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