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STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Sale of Oil and Gas $ 115,823 $ 281,984 $ 249,940 $ 576,293
Supervisory Fees and Other 216,519 166,706 369,360 342,466
Total Revenues 332,342 448,690 619,300 918,759
Costs and Expenses:        
General and Administrative 494,893 858,251 1,127,670 1,687,195
Lease Operating 153,808 269,804 338,943 584,596
Delay Rentals 0 20,437 0 49,565
Lease Impairment 60,237 0 60,237 12,681
Well Equipment Write Down 8,562 0 19,151 19,000
Legal and Accounting 72,642 99,422 232,279 323,898
Marketing 59,530 68,759 103,911 145,747
Depreciation, Depletion and Amortization 71,989 64,429 149,172 139,220
Total Costs and Expenses 921,661 1,381,102 2,031,363 2,961,902
Gain (Loss) on Turnkey Drilling (300,086) 16,237 (80,012) 16,237
Loss From Operations (889,405) (916,175) (1,492,075) (2,026,906)
Other Income (Loss):        
Interest Expense (25,852) (21,544) (47,502) (42,729)
Gain on Settlement of Accounts Payable 240,885 0 240,885 0
Gain on Sale of assets 198,975 10,070 198,975 10,070
Loss Before Income Tax Expense (475,397) (927,649) (1,099,717) (2,059,565)
Net Loss $ (475,397) $ (927,649) $ (1,099,717) $ (2,059,565)
Basic Earnings (Loss) Per Share (in Dollars per share) $ (0.03) $ (0.06) $ (0.06) $ (0.14)
Diluted Earnings (Loss) Per Share (in Dollars per share) $ (0.03) $ (0.06) $ (0.06) $ (0.14)