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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Revenues:    
Oil and natural gas sales $ 495,751 $ 457,725
Sale of oil and natural gas properties 163,657 949
Royalty revenue 807  
Total revenues 660,215 458,674
Oil and gas producing activities:    
Lease operating expenses 161,368 187,807
Production taxes 33,057 35,837
Depreciation, depletion, amortization and accretion 129,663 172,602
Gas gathering:    
Operating expenses 3,985 3,543
Depreciation 11,055 11,055
General and administrative expenses:    
Director fees   450
Investor relations 5,565 30,897
Legal, auditing and professional services 44,048 30,590
Consulting and executive services:    
Related parties 30,000 30,750
Other administrative expenses 21,775 21,370
Depreciation 143 285
Total operating expenses 440,659 525,186
Operating income (loss) 219,556 (66,512)
Other income (expense):    
Interest income   1
Interest expense (35,170) (25,496)
Income (loss) before income taxes 184,386 (92,007)
Income tax benefit (expense)      
Net income (loss) 184,386 (92,007)
Net Income (Loss) Applicable to Common Stockholders:    
Net income (loss) 184,386 (92,007)
Accrued preferred stock dividends (3,750) (195,875)
Net income (loss) applicable to common stockholders $ 180,636 $ (287,882)
Earnings (Loss) Per Share Applicable to Common Stockholders:    
Basic $ 0.01 $ (0.04)
Diluted $ 0.01 $ (0.04)
Weighted Average Number of Common Shares Outstanding:    
Basic 12,810,000 7,980,000
Diluted 12,810,000 7,980,000