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STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues:        
Sale of Oil and Gas $ 507,784 $ 498,838 $ 2,077,750 $ 1,286,834
Supervisory Fees and Other 169,475 160,496 497,379 485,534
Total Revenues 677,259 659,334 2,575,129 1,772,368
Costs and Expenses:        
General and Administrative 858,137 753,227 2,280,268 2,309,441
Lease Operating 248,028 301,635 969,390 808,772
Delay Rentals 2,400 24,880 34,192 51,693
Lease Impairment 37,494 46,311 37,494 46,311
Geological and Geophysical Expense 0 24,997 0 24,997
Inventory Write Down 0 39,185 0 39,185
Legal and Accounting 39,030 26,509 307,433 278,973
Marketing 133,047 101,844 263,365 204,565
Depreciation, Depletion and Amortization 62,880 77,691 241,015 204,002
Total Costs and Expenses 1,381,016 1,396,279 4,133,157 3,967,939
Gain on Turnkey Drilling Programs 562,885 739,816 959,339 981,748
Gain on Sale of Assets 369,977 350,233 335,376 2,645,153
Income (Loss) From Operations 229,105 353,104 (263,313) 1,431,330
Other Income (Expense):        
Interest Expense (22,792) (1,105) (60,085) (304,472)
Income (Loss) Before Income Tax Expense (Benefit) 206,313 351,999 (323,398) 1,126,858
Net Income (Loss) 206,313 351,999 (323,398) 1,126,858
Basic Earnings (Loss) Per Share (in Dollars per share) $ 0.01 $ 0.03 $ (0.02) $ 0.08
Diluted Earnings (Loss) Per Share (in Dollars per share) $ 0.01 $ 0.03 $ (0.02) $ 0.08
Other Comprehensive Income        
Unrealized Gain (Loss) on Equity Securities (9,741) 9,945 (9,741) 9,945
Other Comprehensive Income, before tax 0 0 0 0
Income Tax Expense Related to Items of Other Comprehensive Income 0 0 0 0
Other Comprehensive Income (Loss), net of tax (9,741) 9,945 (9,741) 9,945
Comprehensive Income (Loss) $ 196,572 $ 361,944 $ (333,139) $ 1,136,803