CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES:
Sales of natural gas and crude oil	$ 2,931,586	$ 4,572,679
Net gains from commodity derivatives	370,938	1,070,568
Total revenues	3,302,524	5,643,247
EXPENSES:
Lease operating	2,013,149	3,223,116
Re-engineering and workovers	0	494,429
Marketing cost of sales	0	101,688
General and administrative - stock-based compensation	418,290	1,738,410
General and administrative - other	2,157,486	1,672,212
Depreciation, depletion and amortization	2,446,401	4,141,020
Asset retirement obligation accretion expense	105,014	162,784
Other	(25,432)	11,311
Total expenses	7,114,908	11,544,970
INCOME (LOSS) FROM OPERATIONS	(3,812,384)	(5,901,723)
OTHER INCOME (EXPENSE):
Interest expense	(402,648)	(92,007)
Other, net	9,013	16,156
Total other income (expense)	(393,635)	(75,851)
NET INCOME (LOSS) BEFORE INCOME TAXES	(4,206,019)	(5,977,574)
Income tax benefit	(532,933)	(2,294,582)
NET INCOME (LOSS)	(3,673,086)	(3,682,992)
PREFERRED STOCK:
Dividends paid in cash, perpetual preferred Series A	0	300,815
Dividends in arrears, perpetual preferred Series A	320,626	0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ (3,993,712)	$ (3,983,807)
EARNINGS (LOSS) PER COMMON SHARE:
Basic	$ (0.06)	$ (0.06)
Diluted	$ (0.06)	$ (0.06)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic	71,911,361	69,253,681
Diluted	71,911,361	69,253,681