UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 674,575	$ 1,287,945
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of oil and natural gas properties	0	(4,000)
Unrealized (gain)/loss on commodity derivatives	(4,000)	50,000
Depletion and depreciation	2,032,500	1,515,500
Exploration expense	0	152,650
Accretion of discount on asset retirement obligations	78,000	72,000
Deferred income tax expense	430,000	692,000
Stock compensation expense	112,292	0
Changes in current assets and liabilities:
Accounts receivable	(64,269)	(702,008)
Income taxes receivable	(25,295)	(145,866)
Prepaid expenses and other assets	(51,133)	(23,542)
Accounts payable and accrued expenses	117,302	416,769
Oil and gas revenues payable	(27,322)	0
Other	13,914	48,452
Net cash provided by operating activities	3,286,564	3,359,900
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to oil and natural gas properties and other equipment	(4,897,097)	(1,257,226)
Proceeds from sale of oil and natural gas properties	0	5,000
Net cash used in investing activities	(4,897,097)	(1,252,226)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long term debt	500,000	0
Proceeds received from the exercise of warrants	196,167	89,600
Net cash provided by financing activities	696,167	89,600
NET CHANGE IN CASH AND CASH EQUIVALENTS	(914,366)	2,197,274
CASH AND CASH EQUIVALENTS, beginning of the period	2,648,487	1,408,075
CASH AND CASH EQUIVALENTS, end of the period	1,734,121	3,605,349
SUPPLEMENTAL INFORMATION:
Cash paid during the period for interest	255,320	199,406
Cash paid during the period for income taxes	33,622	249,301
Capital items in accounts payable	$ 777,189	$ 1,927,840