Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property and Equipment Abstract

Property, Plant and Equipment [Table Text Block]

			December 31,
				2012		2011
Oil and gas properties under the full cost method:
	Subject to amortization		$	915,801	$	496,667
	Not subject to amortization:
		Acquired in 2012		141,837		-
		Acquired in 2011		107,510		138,912
		Acquired in 2010		47,148		47,208
		Acquired prior to 2010		52,938		72,214
				1,265,234		755,001
Computers, furniture and fixtures				8,863		6,421
	Total property and equipment			1,274,097		761,422
Accumulated depreciation, depletion and amortization				(270,656)		(212,226)
Net property and equipment			$	1,003,441	$	549,196

Costs Incurred in the Year Ended December 31,
		2012		2011		2010		Prior to 2010		Total
Acquisition costs		$	47,995	$	48,904	$	23,648	$	15,176	$	135,723
Exploration costs			72,490		54,729		23,500		37,762		188,481
Capitalized interest			21,352		3,877		-		-		25,229
Total oil and gas properties not
	subject to amortization	$	141,837	$	107,510	$	47,148	$	52,938	$	349,433