CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash	$ 7,578,730	$ 5,626,345
Restricted cash - letter of credit	0	3,056,250
Accounts receivable - other	0	3,436,305
Escrow receivable - current	1,921,217	2,095,228
Prepaid expenses and other current assets	46,175	36,539
TOTAL CURRENT ASSETS	9,546,122	14,250,667
Oil and gas properties, full cost method
Costs subject to amortization	50,320,591	47,093,419
Costs not being amortized	3,802,042	5,809,297
Office equipment	90,004	90,004
Total	54,212,637	52,992,720
Accumulated depletion, depreciation, amortization, and impairment	(50,349,833)	(47,105,751)
PROPERTY AND EQUIPMENT, NET	3,862,804	5,886,969
Other assets	3,167	3,167
TOTAL ASSETS	13,412,093	20,140,803
CURRENT LIABILITIES
Accounts payable	8,119	84,740
Accrued cash call due to operator	0	3,219,128
Accrued expenses	31,336	90,923
Taxes payable	190,181	1,711,007
TOTAL CURRENT LIABILITIES	229,636	5,105,798
LONG-TERM LIABILITIES
Reserve for plugging and abandonment costs	8,424	7,872
Taxes payable long-term	0	193,398
TOTAL LONG-TERM LIABILITIES	8,424	201,270
TOTAL LIABILITIES	238,060	5,307,068
COMMITMENTS AND CONTINGENCIES	2	2
SHAREHOLDERS' EQUITY
Preferred stock, par value $0.001; 10,000,000 shares authorized, 0 shares issued and outstanding, respectively	0	0
Common stock, par value $0.001; 150,000,000 shares authorized, 52,169,945 and 52,180,045 shares issued and outstanding, respectively	52,170	52,180
Additional paid-in capital	65,477,046	63,963,257
Accumulated deficit	(52,355,183)	(49,181,702)
TOTAL SHAREHOLDERS' EQUITY	13,174,033	14,833,735
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 13,412,093	$ 20,140,803