Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues
Oil and gas sales	$ 10,650	$ 21,525	$ 24,272	$ 41,762
Gathering	474	1,533	1,173	2,889
Pipeline	2,814	2,466	6,242	5,639
Total	13,938	25,524	31,687	50,290
Costs and expenses
Production expense	10,699	11,406	22,200	23,840
Pipeline expense	765	1,356	1,647	3,016
General and administrative	3,878	5,148	8,457	10,036
Litigation reserve		100		9,600
Depreciation, depletion and amortization	7,781	6,836	14,794	13,727
Loss (gain) on disposal of assets	266	(2,435)	157	(12,357)
Total	23,389	22,411	47,255	47,862
Operating income (loss)	(9,451)	3,113	(15,568)	2,428
Other income (expense)
Realized gain from derivative financial instruments	18,618	6,671	30,703	15,907
Unrealized loss from derivative financial instruments	(18,777)	(1,103)	(18,837)	(11,160)
Loss from equity investment	(6,636)		(2,467)
Gain on forgiveness of debt	255	1,647	255	1,647
Other income (expense), net	7	(164)	18	170
Interest expense, net	(2,524)	(2,633)	(5,265)	(5,322)
Total other income (expense)	(9,057)	4,418	4,407	1,242
Income (loss) before income taxes	(18,508)	7,531	(11,161)	3,670
Income taxes
Net income (loss)	(18,508)	7,531	(11,161)	3,670
Preferred stock dividends	(2,155)	(1,915)	(4,248)	(3,774)
Preferred stock accretion	(501)	(380)	(972)	(735)
Net income (loss) available to common stock	$ (21,164)	$ 5,236	$ (16,381)	$ (839)
Net income (loss) per common share
Basic	$ (1.71)	$ 0.63	$ (1.39)	$ (0.10)
Diluted	$ (1.71)	$ 0.28	$ (1.39)	$ (0.10)
Weighted average common shares outstanding
Basic	12,403	8,311	11,805	8,283
Diluted	12,403	18,792	11,805	8,283