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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (860,527) $ (449,754)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depletion and depreciation 319,800 506,800
Exploration expense 0 15,497
Accretion of discount on asset retirement obligations 27,000 26,000
Deferred income tax benefit 0 (231,000)
Stock compensation expense 6,875 29,792
Changes in current assets and liabilities:    
Accounts receivable 240,090 90,767
Income taxes receivable (541) (2,036)
Prepaid expenses and other assets 7,898 (4,745)
Accounts payable and accrued expenses (74,219) 380,119
Oil and gas revenues payable (8,721) 140,095
Other 0 30,815
Net cash provided by (used in) operating activities (342,345) 532,350
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to oil and natural gas properties and other equipment (60,257) (73,733)
Net cash used in investing activities (60,257) (73,733)
CASH FLOWS FROM FINANCING ACTIVITIES:    
NET CHANGE IN CASH AND CASH EQUIVALENTS (402,602) 458,617
CASH AND CASH EQUIVALENTS, beginning of the period 1,467,279 978,145
CASH AND CASH EQUIVALENTS, end of the period 1,064,677 1,436,762
SUPPLEMENTAL INFORMATION:    
Cash paid during the period for interest 65,385 62,444
Cash paid during the period for income taxes 542 2,036
Change in accrued capital expenditures $ 43,608 $ 22,462