SUPPLEMENTARY INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED) (Details 3) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Future cash inflows	$ 438,816,500	$ 1,339,372,300	$ 1,450,469,000
Future oil and natural gas operating expenses	(129,636,500)	(322,298,300)	(334,883,800)
Future development costs	(126,463,700)	(405,900,900)	(424,256,900)
Future income tax expenses	(23,334,886)	(133,467,940)	(163,704,120)
Future net cash flows	159,381,414	477,705,160	527,624,180
10% annual discount for estimating timing of cash flows	(53,318,652)	(183,249,968)	(202,270,201)
Standardized measure of discounted future net cash flows	$ 106,062,762	$ 294,455,192	$ 325,353,979	$ 211,552,886