CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 5,048,104	$ 11,558,322
Short-term investments	0	1,170,868
Accounts receivable, net of allowance for doubtful accounts:
Trade	5,379,899	9,739,737
Officers and employees	49,765	316,077
Other	468,181	697,991
Commodity derivative instruments	1,822,034	3,338,537
Prepayments	859,687	782,234
Deferred taxes	245,922	245,922
Other deferred charges	277,858	342,798
Total current assets	14,151,450	28,192,486
OIL AND GAS PROPERTIES (full cost method):
Not subject to amortization	24,842,415	25,707,052
Subject to amortization	196,299,194	186,530,863
Subtotal	221,141,609	212,237,915
Less: accumulated depreciation, depletion and amortization	(114,741,341)	(103,929,493)
Net oil and gas properties	106,400,268	108,308,422
OTHER PROPERTY AND EQUIPMENT:
Land, buildings and improvements	2,795,000	2,795,000
Other property and equipment	3,471,408	3,439,688
Total	6,266,408	6,234,688
Less: accumulated depreciation and amortization	(2,117,783)	(1,909,352)
Net other property and equipment	4,148,625	4,325,336
OTHER ASSETS AND DEFERRED CHARGES:
Commodity derivative instruments	993,849	1,403,109
Deposits	264,064	264,064
Goodwill	0	5,349,988
Other noncurrent assets	210,473	262,200
Total other assets and deferred charges	1,468,386	7,279,361
TOTAL ASSETS	126,168,729	148,105,605
CURRENT LIABILITIES:
Current maturities of debt	30,217,400	282,843
Accounts payable, principally trade	8,086,414	25,004,364
Asset retirement obligations	733,917	0
Deferred taxes	471,995	471,995
Other accrued liabilities	2,195,531	1,419,565
Total current liabilities	41,705,257	27,178,767
LONG-TERM DEBT:
Bank debt	0	22,900,000
OTHER NONCURRENT LIABILITIES:
Asset retirement obligations	12,239,139	12,487,770
Deferred taxes	8,577,081	14,388,662
Restricted stock units	0	71,569
Other liabilities	43,671	22,451
Total other noncurrent liabilities	20,859,891	26,970,452
EQUITY:
Common stock, no par value (300 million shares authorized, 71,609,741 and 69,139,869 issued)	141,707,502	137,469,772
Preferred stock	10,828,603	9,958,217
Accumulated other comprehensive income (loss)	(9,410)	38,801
Accumulated earnings (deficit)	(88,923,114)	(76,410,404)
Total equity	63,603,581	71,056,386
TOTAL LIABILITIES AND EQUITY	$ 126,168,729	$ 148,105,605