CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 2,030,031	$ 2,938,086
Accounts receivable
Joint interest billings	2,358,076	1,753,204
Revenue	828,141	777,567
Inventory	1,469,490	1,730,733
Prepaid expenses	57,481	153,848
Total	6,743,219	7,353,438
Oil and gas properties (full cost method)
Proved properties	264,990,062	264,814,427
Unproved properties	32,156,446	31,486,314
Facilities and equipment	1,499,297	1,493,314
Furniture, fixtures and other	506,511	506,511
Total	299,152,316	298,300,566
Less accumulated depletion, depreciation, amortization and impairment	(253,987,568)	(253,176,523)
Total	45,164,748	45,124,043
NONCURRENT ASSETS
Deposit	551,370	531,443
Deferred financing costs	703,362	845,367
Total	1,254,732	1,376,810
TOTAL ASSETS	53,162,699	53,854,291
CURRENT LIABILITIES
5.5% Convertible Senior Notes due 2015, net of unamortized discount of $16,091,162	29,076,838
Accounts payable	2,034,928	1,548,121
Revenue payable	3,118,261	2,454,282
Advances from joint interest owners	47,667	47,667
Accrued interest	1,850,672	586,556
Accrued expenses	236,000	396,000
Total	36,364,366	5,032,626
NONCURRENT LIABILITIES
5.5% Convertible Senior Notes due 2015, net of unamortized discount of $18,530,539		26,637,461
Deferred income from sale of assets	2,361,951	2,463,177
Asset retirement obligation	856,308	815,660
Derivative instruments	175,000	907,500
Deferred rent	299,635	294,236
Total	3,692,894	31,118,034
STOCKHOLDERS' EQUITY
Common stock - $0.0001 par value; 600,000,000 shares authorized; 169,823,681 shares issued and 169,749,981 outstanding as of June 30, 2013 and December 31, 2012	16,982	16,982
Additional paid-in capital	262,725,174	262,624,918
Accumulated deficit	(249,506,604)	(244,808,156)
Less cost of treasury stock of 73,700 common shares	(130,295)	(130,295)
Total	13,105,439	17,703,631
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	53,162,699	53,854,291
Series B Convertible Preferred stock
STOCKHOLDERS' EQUITY
Convertible Preferred stock
Series C Convertible Preferred stock
STOCKHOLDERS' EQUITY
Convertible Preferred stock	$ 182	$ 182