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Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities:    
Net Loss $ (1,246,355) $ (6,293,314)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation, depletion, and amortization 20,784 3,150,855
Bad debt expense   59,906
Share-based compensation 46,513 67,301
Deferred income taxes   (1,964,660)
Accretion of discount on asset retirement obligations 205  
Amortization of debt discount 32,898 31,057
Amortization of deferred financing fees   124,461
Accretion of Senior Series A redeemable preferred stock liability   1,299,495
Change in fair value of derivative liabilities   4,283,300
(Gain) loss on sale of assets, net   63,732
(Gain) loss on disposal of discontinued operations 3,887 (146,878)
Gain on sale of oil and gas interest (116,002)  
Gain on sale of securities (2,675)  
Change in working capital:    
Accounts receivable 1,071,909 1,623,664
Inventories   (219,055)
Prepaid expenses and other (26,046) 1,534,449
Accounts payable and accrued expenses 498,039 (931,421)
Deposits held in trust 197,586 965,895
Other liabilities 137,428 21,815
Net cash provided by operating activities 618,171 3,670,602
Cash flows from investing activities:    
Additions to property and equipment (39,171) (336,651)
Proceeds from sale of oil and gas properties 740,048  
Investments in oil and gas properties (1,335,858) (365,642)
Disposition of FDF   11,653,786
Restricted cash (272) (6,250,048)
Purchase of marketable securities (5,656) (500,000)
Net cash provided by (used in) investing activities (640,909) 4,201,445
Cash flows from financing activities:    
Redemption of convertible debentures   (3,208,014)
Borrowings under senior facility   29,345,714
Payments under senior facility   (31,112,386)
Redemption of Series A convertible preferred stock (999,958)  
Purchase of treasury shares (343)  
Borrowings under notes payable   194,696
Payments on notes payable (153,344) (1,513,391)
Net cash used in financing activities (1,153,645) (6,293,381)
Net increase (decrease) in cash and cash equivalents (1,176,383) 1,578,666
Cash and cash equivalents at beginning of period 1,484,386 10,817
Cash and cash equivalents at end of period $ 308,003 $ 1,589,483