CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2011	Dec. 31, 2010
CURRENT ASSETS
Cash and cash equivalents
Accounts receivable, net of allowance of $579,143 and $579,143, respectively	13,708,373	14,225,932
Prepaid expenses	227,384	168,766
Derivative instruments	5,187,396	6,836,366
Deferred tax asset, net	4,619,592	6,331,152
Total current assets	23,742,745	27,562,216
PROPERTY AND EQUIPMENT
Oil and gas properties (successful efforts method of accounting)	637,191,443	590,248,138
Other property and equipment	3,345,798	3,345,798
Accumulated depreciation, depletion and amortization	(254,477,869)	(213,547,504)
Total property and equipment, net	386,059,372	380,046,432
NONCURRENT ASSETS
Deposits	34,743	34,743
Debt issuance cost	1,308,713	2,364,469
Derivative instruments	665,123
Deferred tax asset, net	9,963,079	2,678,966
Total noncurrent assets	11,971,658	5,078,178
TOTAL ASSETS	421,773,775	412,686,826
CURRENT LIABILITIES
Accounts payable	41,704,968	30,795,692
Accrued liabilities	11,566,451	12,799,176
Asset retirement obligations	990,229	732,126
Derivative instruments		3,043,078
Total current liabilities	54,261,648	47,370,072
NONCURRENT LIABILITIES
Long-term debt	183,785,679	172,013,490
Asset retirement obligations	9,065,983	9,101,895
Other noncurrent liabilities	633,382	670,398
Total noncurrent liabilities	193,485,044	181,785,783
Total liabilities	247,746,692	229,155,855
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock (par value $0.001; 200,000,000 shares authorized; 45,271,157 and 44,952,405 shares issued and 45,134,609 and 44,857,259 shares outstanding, respectively)	45,271	44,952
Additional paid-in capital	242,995,182	241,488,749
Retained deficit	(68,352,713)	(57,506,788)
Treasury stock (at cost, 136,548 and 95,146 shares, respectively)	(660,657)	(495,942)
Total stockholders' equity	174,027,083	183,530,971
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 421,773,775	$ 412,686,826