BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash	$ 228,194	$ 94,682
Derivative instruments, current	1,154,400	3,571,803
Accounts receivable	5,038,146	5,740,171
Prepaid expenses	37,100	41,387
Total current assets	6,457,840	9,448,043
Oil and natural gas properties, full cost method of accounting
Proved properties	131,168,906	112,418,105
Unproved properties	10,394	591,121
Other property and equipment	139,004	139,004
Total property and equipment	131,318,304	113,148,230
Less, accumulated depreciation, amortization, depletion and allowance for impairment	(99,468,927)	(18,902,524)
Total property and equipment, net	31,849,377	94,245,706
Derivative instruments, long term	0	4,007,942
Debt issuance costs, net	0	701,019
Total assets	38,307,217	108,402,710
Current liabilities:
Accounts payable	7,906,438	10,291,262
Accrued expenses	55,830	57,435
Current portion of revolving credit facility and long term debt	60,350,629	0
Total current liabilities	68,312,897	10,348,697
Asset retirement obligations	368,089	286,804
Revolving credit facility and long term debt, net of discounts of $-0- and $2,072,483, respectively, net of current portion	0	51,834,603
Deferred tax liability	0	6,593,040
Total liabilities	$ 68,680,986	$ 69,063,144
Commitments and contingencies (See note 17)
Stockholders' equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized, no shares issued and outstanding	$ 0	$ 0
Common stock, $0.001 par value, 500,000,000 shares authorized, 47,979,990 shares issued and outstanding	47,980	47,980
Additional paid-in capital	34,275,414	33,651,714
Retained earnings (accumulated deficit)	(64,697,163)	5,639,872
Total stockholders' equity	(30,373,769)	39,339,566
Total liabilities and stockholders' equity	$ 38,307,217	$ 108,402,710