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STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Sale of Oil and Gas $ 126,435 $ 166,253 $ 477,484 $ 416,193
Supervisory Fees and Other 211,670 152,631 380,527 521,991
Total Revenues 338,105 318,884 858,011 938,184
Costs and Expenses:        
Lease Operating 127,306 173,752 357,759 512,695
Lease Impairment 10,721 (13,934) 147,558 46,303
Well Equipment Write Down 0 0 6,000 19,151
General and Administrative 456,928 749,784 1,471,956 1,877,454
Legal and Accounting 227,033 190,691 895,316 422,970
Marketing 58,952 118,986 221,184 222,897
Depreciation, Depletion and Amortization 42,757 95,841 133,061 245,013
Total Costs and Expenses 923,697 1,315,120 3,232,834 3,346,483
Gain (Loss) on Turnkey Drilling 707,789 298,983 1,586,322 218,971
Income (Loss) From Operations 122,197 (697,253) (788,501) (2,189,328)
Other Income (Loss):        
Interest Expense (39,928) (26,745) (119,340) (74,247)
Gain on Settlement of Accounts Payable 0 104,798 73,128 345,683
Gain on Sale of assets 0 0 0 198,975
Income (Loss) Before Income Tax Expense 82,269 (619,200) (834,713) (1,718,917)
Net Income (Loss) $ 82,269 $ (619,200) $ (834,713) $ (1,718,917)
Basic Earnings (Loss) Per Share (in Dollars per share) $ 0.00 $ (0.03) $ (0.04) $ (0.09)
Diluted Earnings (Loss) Per Share (in Dollars per share) $ 0.00 $ (0.03) $ (0.04) $ (0.09)