STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
REVENUES:
Sales of natural gas and crude oil	$ 10,229,280	$ 5,878,954	$ 30,564,244	$ 19,431,906
Other revenue	341,819	308,092	885,455	739,584
Total revenues	10,571,099	6,187,046	31,449,699	20,171,490
EXPENSES:
Marketing cost of sales	408,559	298,492	1,012,577	936,632
Lease operating	2,838,055	2,394,813	9,761,203	6,371,172
Re-engineering and workovers	778,628	245,528	1,330,539	1,513,767
General and administrative - stock-based compensation	521,978	17,961	598,818	427,374
General and administrative - other	2,396,780	1,224,903	7,335,901	3,814,439
Depreciation, depletion and amortization	3,865,675	3,203,017	15,604,283	7,315,103
Asset retirement obligation accretion expense	150,628	187,025	438,717	464,306
Other	55,102	136,222	83,117	127,602
Total expenses	11,015,405	7,707,961	36,165,155	20,970,395
INCOME (LOSS) FROM OPERATIONS	(444,306)	(1,520,915)	(4,715,456)	(798,905)
OTHER INCOME (EXPENSE):
Change in fair value of preferred stock derivative liability - Series A and Series B	(11,172,928)	15,382,964	(15,676,842)	(7,581,234)
Interest expense	(114,405)	(64,076)	(321,680)	(488,788)
Other, net	2,970	(23,325)	5,634	(197,247)
Total other income (expense)	(11,284,363)	15,295,563	(15,992,888)	(8,267,269)
NET INCOME (LOSS) BEFORE INCOME TAXES	(11,728,669)	13,774,648	(20,708,344)	(9,066,174)
Income tax expense (benefit)	(576,632)	(2,040,000)	(1,710,632)	(1,998,800)
NET INCOME (LOSS)	(11,152,037)	15,814,648	(18,997,712)	(7,067,374)
PREFERRED STOCK, SERIES A AND SERIES B:
Accretion	220,007	275,757	786,536	821,630
Dividends paid in cash	346,192	0	445,152	59,850
Dividends paid in kind	0	0	4,133,380	2,228,545
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (11,718,236)	$ 15,538,891	$ (24,362,780)	$ (10,177,399)
EARNINGS (LOSS) PER COMMON SHARE: BASIC	$ (0.25)	$ 0.38	$ (0.56)	$ (0.25)
EARNINGS (LOSS) PER COMMON SHARE: DILUTED	$ (0.25)	$ 0.24	$ (0.56)	$ (0.25)
Weighted average number of common shares outstanding Basic	47,414,388	41,074,950	43,211,317	41,015,124
Weighted average number of common shares outstanding Diluted	47,414,388	64,235,086	43,211,317	41,015,124