XML 26 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Revenues    
Oil and gas sales $ 1,315,661 $ 745,171
Costs and expenses    
Lease operating expense 177,443 99,096
Production taxes 60,659 34,343
Depreciation, depletion and amortization 369,336 121,945
Asset retirement obligation accretion 4,474 1,143
General and administrative 407,650 300,871
Total costs and expenses 1,019,562 557,398
Income from operations 296,099 187,773
Other income (expense)    
Interest income 526 532
Interest expense (528,794) (245,544)
Change in fair value of warrant and conversion feature liabilities 442,937 74,619
Total other income (expense) (85,331) (170,393)
Income before income taxes 210,768 17,380
Provision for income taxes      
Net income $ 210,768 $ 17,380
Earnings per share - Basic $ 0.02 $ 0
Earnings per share - Diluted $ 0.02 $ 0
Weighted average shares outstanding - basic 12,741,512 9,410,502
Weighted average shares outstanding - diluted 12,741,512 9,410,502