ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) |
6 Months Ended | |
|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
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| Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||
| Carrying amount at beginning of period | $ 71,750 | $ 303,809 |
| Panhandle Settlement | (30,227) | |
| Accretion | 2 | |
| Revisions of previous estimates | 4,260 | 8,258 |
| Carrying amount at end of period | $ 45,783 | $ 312,069 |
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- Definition Amount of increase (decrease) in standardized measure of discounted future net cash flow as a result of revisions of estimated quantity of oil and gas in proved reserves. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The carrying amount of a liability for an asset retirement obligation. An asset retirement obligation is a legal obligation associated with the disposal or retirement of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of asset retirement obligations settled, or otherwise disposed of, during the period. This may include asset retirement obligations transferred to third parties associated with the sale of a long-lived asset. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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