CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
Jun. 30, 2011	Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (11,372,525)	$ (6,162,035)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, depletion and amortization	27,866,568	20,937,682
Asset retirement obligations	(70,250)	(139,102)
Stock compensation expense	954,258	897,296
Amortization of financing costs and discounts	1,436,490	1,374,988
Deferred income taxes	(6,053,424)	(2,923,125)
Impairment and abandonment of oil and gas properties	9,410,025	236,457
Loss on sale of assets		430,819
(Gain) loss on derivative instruments	2,163,290	(1,524,225)
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable, net	(4,032,879)	1,822,789
Increase in prepaid expenses	(33,419)	(7,965)
Increase in accounts payable and accrued liabilities	10,804,633	7,259,238
Net cash provided by operating activities	31,072,767	22,202,817
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(42,978,194)	(21,755,129)
Acquisition of oil and gas properties	(940,345)
Sale of assets		(141,029)
Net cash used in investing activities	(43,918,539)	(21,896,158)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on debt	(72,240,239)	(39,602,202)
Proceeds from debt	85,240,239	39,833,386
Debt issuance expenditures	(46,214)	(466,411)
Proceeds from stock option exercises	29,912	16,558
Purchase of treasury stock	(137,926)	(87,990)
Net cash provided by (used in) financing activities	12,845,772	(306,659)
INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, Beginning of period
CASH AND CASH EQUIVALENTS, End of period
Cash paid for interest	13,028,204	13,655,847
Cash paid for income taxes		$ 95,000

The expense recorded to reduce the value of gas and oil assets consisting of proved properties and unproved properties as the estimate of future successful profuction from these properties is reduced.

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The component of interest expense representing the noncash expenses charged against earnings in the period to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include Noncash Interest Expense.

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The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

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The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss).

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The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.

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The cash outflow to reacquire common stock during the period.

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The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt.

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