BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash and cash equivalents	$ 9,562,262	$ 4,194,511
Short-term investments	1,154,281	0
Trade Accounts receivable, net of allowance for doubtful accounts:	9,520,345	10,837,211
Stockholder and employees Accounts receivable, net of allowance for doubtful accounts:	85,870	155,080
Other Accounts receivable, net of allowance for doubtful accounts:	991,732	417,850
Commodity derivative instruments	383,603	0
Prepayments	789,083	433,991
Deferred taxes	0	146,964
Other deferred charges	304,120	162,416
TOTAL CURRENT ASSETS	22,791,296	16,348,023
OIL AND GAS PROPERTIES (full cost method):
Not subject to amortization	38,463,577	24,051,278
Subject to amortization	166,776,420	152,863,988
Subtotal	205,239,997	176,915,266
Less: accumulated depreciation, depletion and amortization	(99,943,199)	(84,438,840)
Net oil and gas properties	105,296,798	92,476,426
OTHER PROPERTY AND EQUIPMENT:
Land, buildings and improvements	2,795,000	0
Other property and equipment	3,492,904	2,066,760
Total	6,287,904	2,066,760
Less - accumulated depreciation and amortization	(1,922,849)	(1,822,925)
Net other property and equipment	4,365,055	243,835
OTHER ASSETS AND DEFERRED CHARGES:
Commodity derivative instruments	548,573	818,637
Deposits	252,684	0
Receivables from affiliate	0	95,634
Goodwill	5,740,315	0
Other noncurrent assets	479,389	1,649,413
Total other assets and deferred charges	7,020,961	2,563,684
TOTAL ASSETS	139,474,110	111,631,968
CURRENT LIABILITIES:
Current maturities of debt	565,166	178,027
Accounts payable, principally trade	23,648,139	15,116,560
Commodity derivative instruments	0	677,132
Asset retirement obligations	931,154	1,755,650
Other accrued liabilities	2,390,907	1,127,283
TOTAL CURRENT LIABILITIES	27,535,366	18,854,652
LONG-TERM DEBT:
Bank debt	24,965,000	31,215,000
OTHER NONCURRENT LIABILITIES:
Preferred stock derivative liability, Series A and B	0	51,290,414
Asset retirement obligations	11,591,497	8,942,029
Commodity derivative instruments	20,849	218,649
Deferred taxes	16,181,229	13,160,205
Restricted stock units	178,922	102,532
Other noncurrent liabilities	57,677	69,998
Total other noncurrent liabilities	28,030,174	73,783,827
PREFERRED STOCK:
Series A and B, subject to mandatory redemption	0	35,666,342
EQUITY:
Common stock, no par value Authorized (300 million shares authorized, 68,865,962 and 41,074,953 issued)	133,865,431	2,669,465
Accumulated other comprehensive income	37,007	38,770
Accumulated earnings (deficit)	(74,958,868)	(50,596,088)
Total equity	58,943,570	(47,887,853)
Total liabilities and equity	$ 139,474,110	$ 111,631,968