UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUE:
Oil and natural gas sales	$ 2,308,985	$ 2,571,006	$ 7,580,740	$ 7,138,419
Well operational and pumping fees	(1,603)	10,669	25,011	39,113
Disposal fees	60,211	0	73,316	189,974
Total revenue	2,367,593	2,581,675	7,679,067	7,367,506
COSTS AND EXPENSES:
Production expense	1,005,735	1,089,469	2,971,013	2,560,438
Depletion and depreciation	583,500	501,500	2,032,500	1,515,500
Exploration expense	0	(11,554)	0	152,650
Accretion of discount on asset retirement obligations	27,000	24,000	78,000	72,000
General and administrative	496,002	293,015	1,347,536	815,070
Total costs and expenses	2,112,237	1,896,430	6,429,049	5,115,658
OPERATING INCOME	255,356	685,245	1,250,018	2,251,848
OTHER INCOME (EXPENSE):
Interest income	292	396	963	1,759
Interest expense	(64,473)	(78,376)	(195,709)	(199,406)
Unrealized gain (loss) on commodity derivatives	44,000	(50,000)	4,000	(50,000)
Miscellaneous		11,634	8,846	10,744
Total other expense	(20,181)	(116,346)	(181,900)	(236,903)
INCOME BEFORE INCOME TAXES	235,175	568,899	1,068,118	2,014,945
INCOME TAX BENEFIT (EXPENSE) - CURRENT	112,457	66,000	36,457	(35,000)
INCOME TAX EXPENSE - DEFERRED	(208,000)	(267,000)	(430,000)	(692,000)
TOTAL INCOME TAX PROVISION	(95,543)	(201,000)	(393,543)	(727,000)
NET INCOME	$ 139,632	$ 367,899	$ 674,575	$ 1,287,945
EARNINGS PER SHARE:
BASIC (in dollars per share)	$ 0.02	$ 0.05	$ 0.08	$ 0.16
DILUTED (in dollars per share)	$ 0.02	$ 0.04	$ 0.07	$ 0.16
WEIGHTED AVERAGE SHARES OUTSTANDING:
BASIC (in shares)	8,119,903	8,066,336	8,085,736	8,060,763
DILUTED (in shares)	9,149,297	8,656,556	9,415,663	8,208,810