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STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 242,757 $ 660,667
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for depletion, depreciation, and amortization 261,796 367,894
Accretion expense 18,311 18,817
Deferred income taxes 99,300 100,900
Asset retirement obligations 0 8,096
Changes in operating assets and liabilities:    
(Increase) decrease in trade accounts and income taxes receivable (60,401) 190,815
(Increase) decrease in crude oil inventories (1,402) 1,988
Decrease in prepaid expenses 139,804 142,494
(Decrease) in accounts payable and accrued liabilities (215,652) (212,532)
Net cash provided by operating activities 484,513 1,279,139
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (148,281) (777,916)
(Increase) in short-term investments (2,697) (4,264)
(Increase) in long-term investments (14,967) (14,327)
Net cash used in investing activities (165,945) (796,507)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on long-term debt 0 (32,285)
Net cash used in financing activities 0 (32,285)
Net increase in cash and cash equivalents 318,568 450,347
Cash and cash equivalents at beginning of period 3,834,097 2,762,676
Cash and cash equivalents at end of period 4,152,665 3,213,023
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid during the six months for interest 0 716
Cash paid during the six months for income taxes $ 800 $ 85,500