CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Revenue
Oil and gas sales	$ 7,034	$ 6,095	$ 16,549	$ 23,808
Expenses
Lease operating expenses	6,412	5,319	15,411	16,080
Exploration costs		39,828	11,284	141,763
General and administrative expenses	38,112	151,993	188,054	432,121
Impairment and depreciation	1,046	331	1,527	2,934
Total operating expenses	45,570	197,471	216,276	592,898
Operating Loss	(38,536)	(191,376)	(199,727)	(569,090)
Other income / (expense)
Change in fair value of warrant liability		1,358,452		4,359,100
Gain on disposal of asset		2,141		2,141
Other income/(expense), Total		1,360,593		4,361,241
Net income (loss)	$ (38,536)	$ 1,169,217	$ (199,727)	$ 3,792,151
Earnings per share - basic
Income (loss) per common share	$ 0.00	$ 0.02	$ 0.00	$ 0.06
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	$ 0.02	$ 0.00	$ 0.06
Weighted average shares and dilutive potential common shares outstanding	63,075,122	64,501,373	63,075,122	64,465,803