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STATEMENTS OF OPERATIONS (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
REVENUES:      
Oil and gas sales $ 4,995,327 $ 5,688,437 $ 4,515,211
Gain on sales of property and equipment 0 1,512 320,556
Oil and Gas Revenue Including Gain On Fixed Assets 4,995,327 5,689,949 4,835,767
COSTS AND EXPENSES:      
Operating expenses 1,942,754 1,789,569 1,576,892
General and administrative 842,037 879,779 874,899
Stock based compensation 0 43,743 123,283
Taxes, other than income and payroll taxes 160,144 137,163 128,351
Provision for depletion, depreciation, and amortization 649,559 735,231 703,094
Valuation allowances 237,711 751,263 1,222,527
Accretion expense 38,341 45,314 34,955
Other costs and expenses 149,717 147,330 118,043
Operating Expenses 4,020,263 4,529,392 4,782,044
OPERATING INCOME 975,064 1,160,557 53,723
OTHER INCOME (EXPENSE):      
Interest income 42,943 49,863 43,601
Other income (expense) 450 500 (14,061)
Interest expense (1,091) (3,020) (300)
Nonoperating Income (Expense) 42,302 47,343 29,240
INCOME BEFORE INCOME      
TAX PROVISION (BENEFIT) 1,017,366 1,207,900 82,963
Income tax provision (benefit)      
Current 81,921 203,203 109,100
Deferred 157,900 (90,500) (272,000)
Income Tax Expense (Benefit) 239,821 112,703 (162,900)
NET INCOME $ 777,545 $ 1,095,197 $ 245,863
BASIC INCOME PER COMMON SHARE (in dollars per share) $ 0.17 $ 0.23 $ 0.05
DILUTED INCOME PER COMMON SHARE (in dollars per share) $ 0.17 $ 0.23 $ 0.05
Weighted average number of common shares outstanding (in shares) 4,685,859 4,683,853 4,677,728
Diluted average number of common shares outstanding (in shares) 4,685,859 4,687,580 4,686,003