UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 3,605,349	$ 1,408,075
Certificates of deposit	44,702	44,702
Accounts receivable:
Oil and natural gas sales	1,861,068	1,193,495
Joint interest billings, less allowance for doubtful accounts of approximately $174,000 each period	263,841	229,406
Prepaid income taxes	342,421	196,555
Deferred income tax asset-current	110,000	171,000
Prepaid expenses and other current assets	65,891	42,349
Total current assets	6,293,272	3,285,582
PROPERTY AND EQUIPMENT:
Oil and natural gas properties (successful efforts method)	34,761,073	32,210,252
Other equipment	62,836	52,113
Less accumulated depletion and depreciation	(13,437,395)	(12,412,517)
Net property and equipment	21,386,514	19,849,848
Total assets	27,679,786	23,135,430
CURRENT LIABILITIES:
Accounts payable and accrued expenses	3,234,405	889,796
Unrealized loss on commodity derivatives	50,000	0
Oil and gas revenues payable	334,686	286,234
Total current liabilities	3,619,091	1,176,030
LONG-TERM DEBT	6,740,000	6,740,000
DEFERRED INCOME TAXES	3,073,000	2,442,000
ASSET RETIREMENT OBLIGATION	1,688,685	1,595,935
Total liabilities	15,120,776	11,953,965
STOCKHOLDERS' EQUITY:
Common stock, $.01 par value, 75,000,000 shares authorized; 8,993,336 and 8,970,936 shares issued, respectively and 8,066,336 and 8,043,936 outstanding, respectively	89,933	89,709
Additional paid-in capital	11,751,298	11,661,922
Retained earnings	2,684,671	1,396,726
Treasury stock, 927,000 shares, each period, at cost	(1,966,892)	(1,966,892)
Total stockholders' equity	12,559,010	11,181,465
Total liabilities and stockholders' equity	$ 27,679,786	$ 23,135,430