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STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Sale of Oil and Gas $ 166,253 $ 255,179 $ 416,193 $ 831,472
Supervisory Fees and Other 152,631 186,616 521,991 529,082
Total Revenues 318,884 441,795 938,184 1,360,554
Costs and Expenses:        
General and Administrative 749,784 710,239 1,877,454 2,397,434
Lease Operating 173,752 218,953 512,695 803,549
Delay Rentals 0 0 0 49,565
Lease Impairment (13,934) 83,755 46,303 96,436
Well Equipment Write Down 0 0 19,151 19,000
Legal and Accounting 190,691 130,037 422,970 453,935
Marketing 118,986 94,861 222,897 240,608
Depreciation, Depletion and Amortization 95,841 70,018 245,013 209,238
Total Costs and Expenses 1,315,120 1,307,863 3,346,483 4,269,765
Gain (Loss) on Turnkey Drilling 298,983 887,440 218,971 903,677
Income (Loss) From Operations (697,253) 21,372 (2,189,328) (2,005,534)
Other Income (Loss):        
Interest Expense (26,745) (21,766) (74,247) (64,495)
Gain on Settlement of Accounts Payable 104,798 0 345,683 0
Gain on Sale of assets 0 0 198,975 10,070
Loss Before Income Tax Expense (619,200) (394) (1,718,917) (2,059,959)
Net Loss $ (619,200) $ (394) $ (1,718,917) $ (2,059,959)
Basic Earnings (Loss) Per Share (in Dollars per share) $ (0.03) $ 0.00 $ (0.09) $ (0.14)
Diluted Earnings (Loss) Per Share (in Dollars per share) $ (0.03) $ 0.00 $ (0.09) $ (0.14)