|
Statements of Operations (USD $)
|
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Revenue: | ||
| Petroleum Sales | $ 0 | $ 0 |
| Costs and expenses: | ||
| Well abandonment expense | 0 | 2,221,293 |
| Production & operating | 22,060 | 178,174 |
| General & administrative | 222,133 | 231,996 |
| Total costs and expenses | 244,193 | 2,631,463 |
| Operating loss | (244,193) | (2,631,463) |
| Other income and (expense): | ||
| Interest income | 11 | 3,561 |
| Interest expense | (3,250) | 0 |
| Total other income (expense) | (3,239) | 3,561 |
| Net income (loss) | $ (247,432) | $ (2,627,902) |
| Net income (loss) per common share, basic and diluted | $ 0.00 | $ (0.03) |
| Weighted average number of common shares outstanding | 84,163,193 | 80,487,318 |