CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FLOW FROM OPERATING ACTIVITIES
Net loss	$ (1,730,665)	$ (2,598,906)
Adjustments to reconcile net loss to net cash provided by (used in) operations:
Depreciation and depletion	126,677	15,890
Stock-based compensation	433,776	1,277,239
Accretion of asset retirement obligation	414	414
Gain on sale of oil and gas properties - Colombia	0	(86,025)
Changes in operating assets and liabilities:
Decrease in income tax receivable	0	3,349,798
Increase in prepaid expense and other current assets	(124,364)	(62,486)
Decrease in accounts payable and accrued liabilities	(185,571)	(1,856,381)
Net cash provided by (used in) operating activities	(1,479,733)	39,543
CASH FLOWS FROM INVESTING ACTIVITIES
Restricted cash released	0	3,056,250
Payments for the acquisition and development of oil and gas properties	(2,620,342)	(386,107)
Proceeds from escrow receivables	1,586,039	22,963
Proceeds from sale of Colombian oil and gas properties, net of expenses	0	86,025
Net cash provided by (used in) investing activities	(1,034,303)	2,779,131
Increase (decrease) in cash	(2,514,036)	2,818,674
Cash, beginning of period	7,578,730	5,626,345
Cash, end of period	5,064,694	8,445,019
SUPPLEMENTAL CASH FLOW INFORMATION
Interest paid	0	0
Income taxes paid	$ 195,081	$ 1,700,608