SUPPLEMENTARY INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Property acquisition costs - unproved	$ (9,635,309)	$ 1,105,782	$ 3,865,932
Property acquisition costs - proved	7,587,965	3,349,473	8,539,134
Sales proceeds - unproved	(30,442)	(359,667)	(679,266)
Sales proceeds - proved	0	(307,600)	(718,000)
Exploration costs	3,217,161	426,909	2,504,087
Development costs	1,121,654	20,139,409	11,910,179
Capitalized asset retirements costs	4,301,810	241,629	5,795,400
Total costs incurred	$ 6,562,839	$ 24,595,935	$ 31,217,466