STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Revenues:
Sale of Oil and Gas	$ 496,894	$ 1,437,559
Turnkey drilling	250,882	1,195,871
Supervisory Fees and Other	204,684	201,726
Total Revenues	952,460	2,835,156
Costs and Expenses:
General and Administrative	1,019,952	1,047,794
Turnkey Drilling and Development	70,400	951,014
Lease Operating	295,510	306,108
Geological and Geophysical Expense	359,029	41,909
Inventory Write Down	62,744	0
Legal and Accounting	270,303	403,211
Marketing	154,219	180,604
Depreciation, Depletion and Amortization	363,462	529,447
Total Costs and Expenses	2,595,619	3,460,087
Gain on Sale of Assets	1,307	785,132
Income (Loss) From Operations	(1,641,852)	160,201
Other Income (Expense):
Interest Expense	(32,738)	(38,218)
Income (Loss) Before Income Tax Expense	(1,674,590)	121,983
Income tax provision (Benefit)	(485,831)	45,130
Net Income (Loss)	(1,188,759)	76,853
Basic Earnings (Loss) Per Share (in Dollars per share)	$ (0.11)	$ 0.01
Diluted Earnings (Loss) Per Share (in Dollars per share)	$ (0.11)	$ 0.01
Other Comprehensive Income
Unrealized Loss on Equity Securities	1,672	0
Less: Reclassification Adjustment for Gains Included in Net Income	0	0
Other Comprehensive Loss, before tax
Income Tax Benefit Related to Items of Other Comprehensive Income	485	0
Other Comprehensive Loss, net of tax	1,187	0
Comprehensive Income (Loss)	$ (1,187,572)	$ 76,853