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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities:    
Net income (loss) $ (603,141) $ 273,451
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion and amortization 329,717 281,110
Accretion of discount on asset retirement obligations 34,635 33,130
Gain on sale of oil and gas properties (27,120) (242,472)
Common stock issued in exchange for services 28,500 0
Changes in operating assets and liabilities:    
Accounts receivable (86,601) (202,735)
Prepaid expenses and other 13,467 (4,473)
Accounts payable 29,496 357,932
Directors fees and officers services payable 0 67,950
Accrued costs and expenses 78,754 36,487
Net cash provided by (used in) operating activities (29,091) 600,380
Cash Flows from Investing Activities:    
Capital expenditures for property and equipment 93,116 (620,458)
Proceeds from sale of oil and gas properties 50,000 191,189
Net cash provided by (used in) investing activities (43,116) (429,269)
Cash Flows from Financing Activities:    
Proceeds from notes and advance payable 60,000 532,641
Principal payments on notes payable (12,270) (935,966)
Redemption of common stock 0 (228,000)
Net cash provided by (used in) financing activities 47,730 (631,325)
Net increase (decrease) in cash and equivalents (24,477) (460,214)
Cash and equivalents, beginning of period 30,755 476,323
Cash and equivalents, end of period 6,278 16,109
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 34,838 55,651
Cash paid for income taxes 0 0
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Additions to oil & gas property financed in accounts payable 3,465 0
Common Stock Issued as a prepayment for services 13,333 0
Common Stock issued for directors fees payable $ 20,900 $ 0