CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES:
Sales of natural gas and crude oil	$ 4,649,009	$ 7,821,497	$ 14,756,582	$ 31,837,566
Realized and unrealized net gains (losses) from commodity derivatives	3,893,650	2,407,783	3,267,239	(1,273,322)
Total revenues	8,542,659	10,229,280	18,023,821	30,564,244
EXPENSES:
Marketing cost of sales	234,507	408,559	434,189	1,012,577
Lease operating	2,718,919	2,838,055	9,168,260	9,761,203
Re-engineering and workovers	1,136	778,628	555,628	1,330,539
General and administrative - stock-based compensation	338,619	521,978	2,210,950	598,818
General and administrative - other	1,873,484	2,054,961	5,389,859	6,450,446
Depreciation, depletion and amortization	3,123,812	3,865,675	11,020,278	15,604,283
Asset retirement obligation accretion expense	170,209	150,628	499,766	438,717
Goodwill impairment	0	0	5,349,988	0
Bad debt expense	49,728	55,102	787,264	85,101
Recovery of bad debts	(324,057)	0	(342,944)	(1,984)
Total expenses	8,186,357	10,673,586	35,073,238	35,279,700
INCOME (LOSS) FROM OPERATIONS	356,302	(444,306)	(17,049,417)	(4,715,456)
OTHER INCOME (EXPENSE):
Change in fair value of preferred stock derivative liability - Series A and Series B	0	(11,172,928)	0	(15,676,842)
Interest expense	(131,114)	(114,405)	(337,499)	(321,680)
Other, net	14,055	2,970	35,521	5,634
Total other income (expense)	(117,059)	(11,284,363)	(301,978)	(15,992,888)
NET INCOME (LOSS) BEFORE INCOME TAXES	239,243	(11,728,669)	(17,351,395)	(20,708,344)
Income tax benefit	(398,400)	(576,632)	(5,779,000)	(1,710,632)
NET INCOME (LOSS)	637,643	(11,152,037)	(11,572,395)	(18,997,712)
PREFERRED STOCK, SERIES A AND SERIES B:
Dividends paid in cash, perpetual preferred Series A	320,626	0	940,315	0
Accretion, Series A and Series B	0	220,007	0	786,536
Dividends paid in cash, Series A and Series B	0	346,192	0	445,152
Dividends paid in kind, Series A and Series B	0	0	0	4,133,380
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 317,017	$ (11,718,236)	$ (12,512,710)	$ (24,362,780)
EARNINGS (LOSS) PER COMMON SHARE:
Basic	$ (0.00)	$ (0.25)	$ (0.18)	$ (0.56)
Diluted	$ (0.00)	$ (0.25)	$ (0.18)	$ (0.56)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	71,603,265	47,414,388	70,795,104	43,211,317
Diluted	73,273,007	47,414,388	70,795,104	43,211,317