Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2011	Dec. 31, 2010
CURRENT ASSETS:
Cash and cash equivalents	$ 2,246,409	$ 984,770
Certificates of deposit	44,446	44,422
Accounts receivable:
Oil and natural gas sales	765,226	723,218
Joint interest billings, less allowance for doubtful accounts of $99,192, each period	206,745	246,655
Prepaid income taxes	276,000	206,000
Deferred income tax asset--current	51,000	99,000
Prepaid drilling expense	975,538	975,538
Prepaid expenses and other current assets	73,349	76,433
Total current assets	4,638,713	3,356,036
PROPERTY AND EQUIPMENT:
Oil and natural gas properties (successful efforts method)	24,050,706	24,434,664
Other equipment	89,248	89,248
Less accumulated depletion and depreciation	(9,267,010)	(9,318,340)
Net property and equipment	14,872,944	15,205,572
Total assets	19,511,657	18,561,608
CURRENT LIABILITIES:
Accounts payable and accrued expenses	748,843	553,760
Oil and gas revenues payable	211,390	198,247
Unrealized loss on commodity derivatives	68,000	0
Total current liabilities	1,028,233	752,007
LONG-TERM DEBT	6,740,000	6,740,000
DEFERRED INCOME TAXES	1,200,000	1,033,000
ASSET RETIREMENT OBLIGATION	1,447,002	1,405,002
Total liabilities	10,415,235	9,930,009
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value, 75,000,000 shares authorized; 8,910,175 shares issued each period, and 7,997,175 and 8,077,175 outstanding, respectively	89,101	89,101
Additional paid-in capital	4,573,580	4,573,580
Retained earnings	6,365,456	5,577,260
Treasury stock, 913,000 and 833,000 shares, at cost	(1,931,715)	(1,608,342)
Total stockholders' equity	9,096,422	8,631,599
Total liabilities and stockholders' equity	$ 19,511,657	$ 18,561,608