STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Revenues:
Sale of Oil and Gas	$ 1,864,515	$ 634,630	$ 3,302,074	$ 1,425,411
Turnkey drilling	1,311,320	3,253,736	2,507,191	3,978,564
Supervisory Fees and Other	300,810	226,821	502,536	360,191
Total Revenues	3,476,645	4,115,187	6,311,801	5,764,166
Costs and Expenses:
General and Administrative	993,596	1,008,763	2,041,390	1,949,808
Turnkey Drilling and Development	474,963	649,518	1,425,977	1,103,604
Lease Operating	493,943	336,600	800,051	595,009
Lease Impairment	0	114,048	0	114,048
Geological and Geophysical Expense	25,059	0	66,968	0
Legal and Accounting	94,768	62,563	497,979	254,560
Marketing	244,888	152,649	425,492	303,401
Depreciation, Depletion and Amortization	717,114	238,937	1,246,561	478,622
Total Costs and Expenses	3,044,331	2,563,078	6,504,418	4,799,052
Gain on Sale of Assets	8,024	0	793,156	0
Income From Operations	440,338	1,552,109	600,539	965,114
Other Income (Expense):
Interest Expense	(37,232)	(5,035)	(75,450)	(10,544)
Gain on Marketable Securities	0	164,383	0	164,383
Income Before Income Tax Expense	403,106	1,711,457	525,089	1,118,953
Income tax provision	143,759	636,063	188,889	416,074
Net Income	259,347	1,075,394	336,200	702,879
Basic Earnings Per Share (in Dollars per share)	$ 0.02	$ 0.11	$ 0.03	$ 0.07
Diluted Earnings Per Share (in Dollars per share)	$ 0.02	$ 0.10	$ 0.03	$ 0.06
Other Comprehensive Income
Unrealized Loss on Equity Securities	0	(611,512)	0	(455,032)
Less: Reclassification Adjustment for Gains Included in Net Income	0	(164,383)	0	(164,383)
Other Comprehensive Loss, before tax	0	(447,129)	0	(290,649)
Income Tax Benefit Related to Items of Other Comprehensive Income	0	(165,175)	0	(59,759)
Other Comprehensive Loss, net of tax	0	(281,954)	0	(230,890)
Comprehensive Income	$ 259,347	$ 793,440	$ 336,200	$ 471,989