CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenue
Oil and gas sales	$ 3,462	$ 10,080	$ 9,515	$ 17,713
Expenses
Lease operating expenses	3,974	5,590	8,999	10,761
Exploration costs	8,146	101,935	11,284	101,935
General and administrative expenses	69,130	132,056	149,942	280,127
Impairment and depreciation	150	1,301	481	2,604
Total operating expenses	81,400	240,882	170,706	395,427
Operating Loss	(77,938)	(230,802)	(161,191)	(377,714)
Other income / (expense)
Change in fair value of warrant liability		2,994,812		3,000,648
Net income (loss)	$ (77,938)	$ 2,764,010	$ (161,191)	$ 2,622,934
Earnings per share - basic
Income (loss) per common share	$ 0.00	$ 0.04	$ 0.00	$ 0.04
Weighted average shares outstanding	63,075,122	63,075,122	63,075,122	63,075,122
Earnings per share - diluted
Income (loss) per common share	$ 0.00	$ 0.04	$ 0.00	$ 0.04
Weighted average shares and dilutive potential common shares outstanding	63,075,122	65,669,420	63,075,122	64,447,506