NOTE 18 - SUPPLEMENTAL INFORMATION ABOUT OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2016

NOTE 18 - SUPPLEMENTAL INFORMATION ABOUT OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Tables) [Line Items]

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities [Table Text Block]

	2016						2015
	Oil (BBL)			Gas (MCF)			Oil (BBL)			Gas (MCF)
Proved developed and undeveloped reserves:
Beginning of period		3,600			2,510,700			1,781			4,131,806
Revisions of previous estimates		2,446			74,983			(178	)		(1,323,750	)
Production		(193	)		(232,539	)		(403	)		(363,168	)
Extensions, discoveries and improved recovery		-			112,265			-			48,912
Purchase of minerals in place		-			-			2,400			16,900
Sales of minerals in place		-			(450,488	)		-			-
Proved reserves end of period		5,853			2,014,921			3,600			2,510,700

	2016				2015
	Oil (BBL)		Gas (MCF)		Oil (BBL)		Gas (MCF)
Proved developed reserves:
Beginning of period		-		2,174,100		587		3,786,785
End of period		5,823		1,699,997		-		2,174,100

	2016				2015
	Oil (BBL)		Gas (MCF)		Oil (BBL)		Gas (MCF)
Proved undeveloped reserves:
Beginning of period		3,600		336,600		1,194		345,021
End of period		-		314,925		3,600		336,600

Schedule of Changes in Standardized Measure of Discounted Future Net Cash Flows [Table Text Block]

	2016			2015
Future cash inflows	$	5,270,400			6,962,900
Future production costs		(1,744,200	)		(3,066,200	)
Future development costs		(556,500	)		(662,800	)
Future income tax expense		(890,910	)		(970,170	)
Future net cash flows		2,078,790			2,263,730
10% annual discount for estimated timing of cash flows		(595,518	)		(704,014	)
Standardized measure of discounted future net cash flows	$	1,483,272			1,559,716
Sales of oil and gas produced, net of production costs	$	(55,272	)		(155,847	)
Revisions of previous quantity estimates		120,833			(5,089,087	)
Net changes in prices and production costs		(253,313	)		(2,238,956	)
Sales of minerals in place		(402,900	)		-
Purchases of minerals in place		-			6,000
Extensions, discoveries and improved recovery		184,476			36,000
Accretion of discount		296,970			220,000
Net change in income tax		32,762			2,166,567
Net increase (decrease)	$	(76,444	)		(5,055,323	)

Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]

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

	2016		2015
Acquisition - Proved	$	-		69,446
Acquisition- Unproved	$	-		113,749
Development	$	1,210,261		672,651
Exploration	$	2,603,209		1,845,585

Proved Developed Reserves [Member]

NOTE 18 - SUPPLEMENTAL INFORMATION ABOUT OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Tables) [Line Items]

Schedule of Future Development Costs, Oil and Gas Production [Table Text Block]

2017	$	467,400
2018		-
2019		34,000
Thereafter		55,100
Total	$	556,500

Proved Developed, Proved Non-Producing and Proved Undeveloped Reserves [Member]

NOTE 18 - SUPPLEMENTAL INFORMATION ABOUT OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Tables) [Line Items]

Schedule of Future Development Costs, Oil and Gas Production [Table Text Block]

Future development cost of:	2017		2018		2019
Proved developed reserves	$	-	$	-	$	-
Proved non-producing reserves		124,700		-		34,000
Proved undeveloped reserves		342,700		-		-
Total	$	467,400	$	-	$	34,000

Proved Undeveloped Reserves [Member]

NOTE 18 - SUPPLEMENTAL INFORMATION ABOUT OIL AND GAS PRODUCING ACTIVITIES (UNAUDITED) (Tables) [Line Items]

Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]

2016	$	243,583
2015	$	-
2014	$	549,236