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Condensed Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenue from operations:    
Pipeline operations$ 219,006$ 502,369$ 829,011$ 1,393,848
Oil and gas sales301,417237,9401,004,148278,161
Total revenue from operations520,423740,3091,833,1591,672,009
Cost of operations:    
Pipeline operating expenses532,931243,531999,297855,842
Lease operating expenses286,439221,019816,718250,031
Depletion, depreciation and amortization123,355217,105406,891463,806
Recovery on previous allowance for doubtful loan receivable (201,000) (201,000)
General and administrative273,567286,2881,056,2031,084,537
Stock-based compensation20,00020,00060,000113,760
Accretion expense32,80530,56398,88488,678
Total cost of operations1,269,097817,5063,437,9932,655,654
Gain on sale of property and equipment3,267,070 3,267,070 
Income (Loss) from operations2,518,396(77,197)1,662,236(983,645)
Other income:    
Interest and other income5,1388,11515,27618,872
Income (Loss) before income taxes2,523,534(69,082)1,677,512(964,773)
Income taxes    
Net income (loss)$ 2,523,534$ (69,082)$ 1,677,512$ (964,773)
Income (Loss) per common share    
Basic$ 1.20$ (0.04)$ 0.80$ (0.54)
Diluted$ 1.20$ (0.04)$ 0.80$ (0.54)
Weighted average number of common shares outstanding    
Basic2,094,4381,967,2782,088,5811,793,365
Diluted2,095,1661,967,2782,091,4281,793,365