SUPPLEMENTARY INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED) (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Oil and gas properties, full cost method Not subject to amortization:
Prospect inventory	$ 7,719,857	$ 14,913,126
Property acquisition costs - unproved	6,150,862	8,623,344
Well development costs - unproved	417,997	2,170,582
Subject to amortization:
Property acquisition costs - proved	58,393,861	50,744,401
Well development costs - proved	81,063,335	74,440,227
Capitalized costs - unsuccessful	60,549,824	52,539,407
Capitalized asset retirement costs	4,505,018	8,806,828
Total capitalized costs	218,800,754	212,237,915
Less accumulated depreciation, depletion and amortization	(117,304,945)	(103,929,493)
Net capitalized costs	$ 101,495,809	$ 108,308,422