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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
REVENUE:    
Oil and natural gas sales $ 568,739 $ 1,090,357
Well operational and pumping fees 1,262 1,262
Disposal fees 14,712 25,347
Total revenue 584,713 1,116,966
COSTS AND EXPENSES:    
Production expense 660,275 819,393
Depletion and depreciation 319,800 506,800
Exploration expense 0 15,497
Accretion of discount on asset retirement obligations 27,000 26,000
General and administrative 375,437 373,327
Total costs and expenses 1,382,512 1,741,017
OPERATING LOSS (797,799) (624,051)
OTHER INCOME (EXPENSE):    
Interest income 112 122
Interest expense (62,840) (63,445)
Miscellaneous 0 6,620
Total other income (expense) (62,728) (56,703)
LOSS BEFORE INCOME TAXES (860,527) (680,754)
INCOME TAX BENEFIT -CURRENT 0 0
INCOME TAX BENEFIT -DEFERRED 0 231,000
TOTAL INCOME TAX PROVISION 0 231,000
NET LOSS $ (860,527) $ (449,754)
LOSS PER SHARE:    
BASIC $ (0.10) $ (0.06)
DILUTED $ (0.10) $ (0.06)
WEIGHTED AVERAGE SHARES OUTSTANDING:    
BASIC 8,889,991 8,135,274
DILUTED 8,889,991 8,135,274