Supplemental Disclosures of Cash Flow Information

9 Months Ended

Sep. 30, 2011

Supplemental Disclosures of Cash Flow Information [Abstract]

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

NOTE 15. SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

          Additional cash flow information was as follows for the nine months ended September 30, 2011 and 2010:

	2011		2010
Supplemental disclosures of cash flow information:
Total cash paid for interest	$	979,329	$	124,609
Total cash paid for taxes	$	1,825,988	$	—
Cash paid for interest — related party	$	4,815	$	14,310
Supplemental disclosure of non-cash information:
Exchange of working interest in oil and gas properties to retire debt	$	—	$	62,388
Exchange of working interest in oil and gas properties to satisfy payables	$	—	$	161,706
Exchange of wells in progress funds to retire debt	$	—	$	37,612
Exchange of wells in progress funds to satisfy accrued interest	$	—	$	12,500
Acquisition of equipment under financing arrangements	$	—	$	21,583
Issuance of common stock and warrrants in connection with debt transactions	$	—	$	154,273
Exchange of 12% debentures for common stock	$	114,999	$	—
Issuance of derivative liability	$	118,440	$	—
Dividend declared	$	399,436	$	—