CONDENSED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (804,449)	$ (355,459)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Depletion of oil and gas properties	431,893
Depreciation and amortization	8,951	1,362
Accretion of discount on asset retirement obligations	420
Loss on disposal of equipment	1,061
Loss on sale of debt securities		8,363
Common stock granted for services	43,120
Common stock warrants granted	46,264
Common stock warrants granted, related parties	8,164
Common stock options granted, related parties	492,359	58,425
Decrease (increase) in assets:
Accounts receivable	(962,211)	(11,633)
Prepaid expenses	(113,224)	(15,234)
Contingent consideration receivable	159,897	141,365
Increase (decrease) in liabilities:
Accounts payable	187,100	(23,378)
Accounts payable, related parties	(69,792)
Accrued expenses	(47,267)	29,546
Royalties payable	(7,994)	(9,294)
Deferred tax liability	(380,500)	0
Net cash used in operating activities	(1,006,208)	(175,937)
CASH FLOWS FROM INVESTING ACTIVITIES
Cash acquired in spin-off from Ante4, Inc.		258,712
Proceeds from sale of short term investments		3,700,000
Purchases and increases in oil and gas properties	(9,929,935)
Purchases of other property and equipment	(62,360)
Net cash used in investing activities	(9,992,295)	3,958,712
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on line of credit		(2,437,336)
Proceeds from the sale of common stock, net of $526,444 of offering costs	5,616,057
Proceeds from the exercise of common stock options	17,280
Net cash provided by (used in) financing activities	5,633,337	(2,437,336)
NET CHANGE IN CASH	(5,365,166)	1,345,439
CASH AT BEGINNING OF PERIOD	8,577,610
CASH AT END OF PERIOD	3,212,444	1,345,439
SUPPLEMENTAL INFORMATION:
Interest paid	9,295	6,854
Income taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Purchase of oil and gas properties paid subsequent to period-end	1,886,009
Purchase of oil and gas properties through issuance of common stock	4,940,269
Capitalized asset retirement obligations	$ 3,247