STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 750,928	$ 272,599
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depletion, depreciation, and amortization	595,631	498,115
Valuation allowances	727,384	867,468
Gain on sale of fixed assets	(1,512)	(320,556)
Stock based compensation	43,743	113,500
Accretion expense	26,793	18,775
Loss on disposal of fixed assets	0	803
Deferred income taxes	(151,900)	(180,100)
Asset retirement obligations	11,779	0
Changes in operating assets and liabilities:
(Increase) decrease in trade accounts receivable	(44,150)	89,284
(Increase) in crude oil inventories	(10,336)	(1,101)
Decrease in prepaid expenses and other assets	139,016	61,605
(Increase) in other assets	(10,000)	0
(Decrease) in accounts payable and accrued liabilities	(127,108)	(2,786)
Net cash provided by operating activities	1,950,268	1,417,606
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,137,941)	(1,714,181)
Redemptions of short-term investments	0	680,000
Payments to acquire short-term investments	(100,000)	(550,000)
(Increase) decrease in short-term investments	(32,090)	103,615
Proceeds from sale of property and equipment	21,500	320,556
Net cash used in investing activities	(1,248,531)	(1,160,010)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loans to employees	(1,300)	(2,900)
Proceeds from issuance of long-term debt	55,979	0
Principal payments from loans to employees	900	3,800
Principal payments on long-term debt	(25,842)	(19,735)
Net cash provided by (used in) financing activities	29,737	(18,835)
Net increase in cash and cash equivalents	731,474	238,761
Cash and cash equivalents at beginning of year	1,535,532	1,438,825
Cash and cash equivalents at end of period	2,267,006	1,677,586
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the nine months for interest	2,459	303
Cash paid during the nine months for income taxes	$ 185,598	$ 1,100