STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010	Sep. 30, 2011	Sep. 30, 2010
REVENUES:
Oil and gas sales	$ 1,412,342	$ 1,099,464	$ 4,287,669	$ 3,329,594
Gain on sales of fixed assets	500	320,556	1,512	320,556
Oil and Gas Revenue Including Gain On Fixed Assets	1,412,842	1,420,020	4,289,181	3,650,150
COSTS AND EXPENSES:
Operating expenses	421,405	386,897	1,282,950	1,165,209
General and administrative	222,583	195,838	666,375	653,793
Stock based compensation	0	113,500	43,743	113,500
Taxes, other than income and payroll taxes	37,399	39,654	101,358	97,313
Provision for depletion, depreciation, and amortization	184,208	151,855	595,631	498,115
Valuation allowances	673,000	0	727,384	867,468
Accretion expense	5,229	6,664	26,793	18,775
Other costs and expenses	31,280	26,403	118,964	90,946
Operating Expenses	1,575,104	920,811	3,563,198	3,505,119
OPERATING INCOME (LOSS)	(162,262)	499,209	725,983	145,031
OTHER INCOME (EXPENSE):
Interest income	12,193	13,521	38,704	29,904
Other income	0	3,600	500	9,997
Interest expense	(568)	(30)	(2,459)	(333)
Nonoperating Income (Expense)	11,625	17,091	36,745	39,568
INCOME (LOSS) BEFORE INCOME TAX PROVISION (BENEFIT)	(150,637)	516,300	762,728	184,599
Income tax provision (benefit)
Current	52,700	47,200	163,300	92,100
Deferred	(207,600)	75,300	(151,500)	(180,100)
Income Tax Expense (Benefit)	(154,900)	122,500	11,800	(88,000)
NET INCOME	$ 4,263	$ 393,800	$ 750,928	$ 272,599
BASIC INCOME PER COMMON SHARE (in dollars per share)	$ 0	$ 0.08	$ 0.16	$ 0.06
DILUTED INCOME PER COMMON SHARE (in dollars per share)	$ 0	$ 0.08	$ 0.16	$ 0.06
Weighted average number of common shares outstanding (in shares)	4,683,853	4,677,728	4,682,492	4,677,728
Diluted average number of common shares outstanding (in shares)	4,685,177	4,720,014	4,688,465	4,719,276