CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash and cash equivalents
Accounts receivable, net of allowance of $579,143 and $579,143, respectively	18,258,810	14,225,932
Prepaid expenses	202,185	168,766
Derivative instruments	3,409,633	6,836,366
Deferred tax asset, net	6,880,945	6,331,152
Total current assets	28,751,573	27,562,216
PROPERTY AND EQUIPMENT
Oil and gas properties (successful efforts method of accounting)	624,803,238	590,248,138
Other property and equipment	3,345,798	3,345,798
Accumulated depreciation, depletion and amortization	(241,138,871)	(213,547,504)
Total property and equipment, net	387,010,165	380,046,432
NONCURRENT ASSETS
Deposits	34,743	34,743
Debt issuance cost	1,477,396	2,364,469
Deferred tax asset, net	8,182,597	2,678,966
Total noncurrent assets	9,694,736	5,078,178
TOTAL ASSETS	425,456,474	412,686,826
CURRENT LIABILITIES
Accounts payable	42,661,280	30,795,692
Accrued liabilities	11,762,898	12,799,176
Asset retirement obligations	1,011,633	732,126
Derivative instruments	1,319,417	3,043,078
Total current liabilities	56,755,228	47,370,072
NONCURRENT LIABILITIES
Long-term debt	185,516,693	172,013,490
Asset retirement obligations	9,073,924	9,101,895
Derivative instruments	460,218
Other noncurrent liabilities	645,721	670,398
Total noncurrent liabilities	195,696,556	181,785,783
Total liabilities	252,451,784	229,155,855
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock (par value $0.001; 200,000,000 shares authorized; 45,238,933 and 44,952,405 shares issued and 45,110,956 and 44,857,259 shares outstanding, respectively)	45,239	44,952
Additional paid-in capital	242,472,632	241,488,749
Retained deficit	(68,879,313)	(57,506,788)
Treasury stock (at cost, 127,977 and 95,146 shares, respectively)	(633,868)	(495,942)
Total stockholders' equity	173,004,690	183,530,971
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 425,456,474	$ 412,686,826