STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 660,667	$ 746,665
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for depletion, depreciation, and amortization	367,894	411,423
Valuation allowances	0	54,384
Gain on sale of fixed assets	0	(1,012)
Stock based compensation	0	43,743
Accretion expense	18,817	21,564
Deferred income taxes	100,900	56,100
Asset retirement obligations	8,096	11,779
Changes in operating assets and liabilities:
Decrease (increase) in trade accounts and income taxes receivable	190,815	(159,627)
Decrease in crude oil inventories	1,988	156
Decrease in prepaid expenses	142,494	118,272
(Increase) in other assets	0	(10,000)
(Decrease) in accounts payable and accrued liabilities	(212,532)	(128,879)
Net cash provided by operating activities	1,279,139	1,164,568
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(777,916)	(1,125,556)
(Increase) in short-term investments	(4,264)	(6,691)
(Increase) in long-term investments	(14,327)	(14,966)
Proceeds from sale of property and equipment	0	21,000
Net cash used in investing activities	(796,507)	(1,126,213)
CASH FLOWS FROM FINANCING ACTIVITIES:
Loans to employees	0	(800)
Proceeds from issuance of long-term debt	0	55,979
Principal payments from loans to employees	0	800
Principal payments on long-term debt	(32,285)	(12,659)
Net cash (used in) provided by financing activities	(32,285)	43,320
Net increase in cash and cash equivalents	450,347	81,675
Cash and cash equivalents at beginning of period	2,762,676	1,535,532
Cash and cash equivalents at end of period	3,213,023	1,617,207
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid during the six months for interest	716	1,891
Cash paid during the six months for income taxes	$ 85,500	$ 111,800