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NOTE 2 - OIL AND GAS PROPERTIES, EQUIPMENT AND FIXTURES
 12 Months Ended
Dec. 31, 2015
Oil and Gas Exploration and Production Industries Disclosures [Abstract]  
Oil and Gas Exploration and Production Industries Disclosures [Text Block]
NOTE 2 - OIL AND GAS PROPERTIES, EQUIPMENT AND FIXTURES

Oil and gas properties, equipment and fixtures consist of the following at December 31:

   
2015
   
2014
 
Oil and Gas
           
             
Producing properties, including intangible drilling costs
 
$
5,217,637
   
$
4,920,521
 
Undeveloped properties
   
2,381,564
     
2,773,422
 
Lease and well equipment
   
4,339,122
     
4,410,120
 
     
11,938,323
     
12,104,063
 
Accumulated depletion, depreciation and amortization
   
(7,656,731
)
   
(7,318,510
)
                 
   
$
4,281,592
   
$
4,785,553
 

Commercial and Other
 
2015
   
2014
 
             
Real estate, including furniture and fixtures
 
$
2,266,050
   
$
2,768,394
 
Vehicles
   
118,061
     
116,830
 
Furniture and equipment
   
1,120,760
     
1,114,086
 
     
3,504,871
     
3,999,310
 
Accumulated depreciation
   
(1,253,985
)
   
(1,190,197
)
     
2,250,886
     
2,809,113
 
   
$
6,532,478
   
$
7,594,666
 

The following sets forth costs incurred for oil and gas property acquisition and development activities, whether capitalized or expensed:

   
2015
   
2014
 
             
Acquisition - Proved
 
$
69,446
     
3,215
 
Acquisition- Unproved
 
$
113,749
     
84,715
 
Development
 
$
672,651
     
1,346,433
 
Exploration
 
$
1,845,585
     
2,309,105
 

The guidance set forth in the Continued Capitalization of Exploratory Well Costs paragraph of the Extractive Activities Topic of the FASB Accounting Standards Codification requires that we evaluate all existing capitalized exploratory well costs and disclose the extent to which any such capitalized costs have become impaired and are expensed or reclassified during a fiscal period. We did not make any additions to capitalized exploratory well costs pending a determination of proved reserves during 2015 or 2014. We did not charge any previously capitalized exploratory well costs to expense upon adoption of Topic.  Undeveloped properties are not subject to depletion, depreciation or amortization.

   
12 Months Ended December 31,
 
   
2015
   
2014
 
Beginning balance at January 1
 
$
-
   
$
-
 
                 
Additions to capitalized exploratory well costs  pending the determination of proved reserves
 
$
85,640
   
$
188,017
 
                 
Reclassifications to wells, facilities, and equipment based on the determination of proved reserves
 
$
(85,640
) 
 
$
(188,017
) 
                 
Ending balance at December 31
 
$
-
   
$
-
 

Results of Operations from Oil and Gas Producing and Exploration Activities

The results of operations from oil and gas producing and exploration activities (excluding corporate overhead and interest costs) for the two years ended December 31, are as follows: 

   
2015
   
2014
 
             
Oil and gas sales
 
$
1,018,928
     
2,598,297
 
Production related costs
   
(1,449,082
) 
   
(2,044,479
)
Lease Impairment
   
(424,163
) 
   
(268,093
)
Depreciation, depletion and amortization
   
(400,813
) 
   
(315,574
)
                 
Results of operations from producing and
exploration activities
 
$
(1,255,130
) 
   
(29,849
) 
Income Taxes (Benefit)
   
 -
     
-
 
                 
Net Results
 
$
(1,255,130
) 
   
(29,849
)