CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2012	Dec. 31, 2011
CURRENT ASSETS
Cash and cash equivalents	$ 0	$ 0
Accounts receivable, net of allowance of $547,184 and $579,143, respectively	14,435,958	16,059,667
Prepaid expenses	717,058	473,616
Derivative instruments	5,726,617	4,538,897
Deferred tax asset, net	247,346
Total current assets	21,126,979	21,072,180
PROPERTY AND EQUIPMENT
Oil and gas properties (successful efforts method of accounting)	722,429,976	663,414,446
Other property and equipment	3,334,045	3,345,798
Accumulated depreciation, depletion and amortization	(298,835,052)	(269,978,945)
Total property and equipment, net	426,928,969	396,781,299
NONCURRENT ASSETS
Deposits	34,743	34,743
Debt issuance cost	1,248,164	1,140,031
Derivative instruments	1,033,677
Deferred tax asset, net	16,872,976	17,297,621
Total noncurrent assets	19,189,560	18,472,395
TOTAL ASSETS	467,245,508	436,325,874
CURRENT LIABILITIES
Accounts payable	43,613,937	49,539,258
Accrued liabilities	14,453,729	16,131,324
Asset retirement obligations	956,736	935,705
Derivative instruments		290,703
Deferred tax liability, net		189,146
Total current liabilities	59,024,402	67,086,136
NONCURRENT LIABILITIES
Long-term debt	227,694,428	190,041,933
Asset retirement obligations	9,882,294	9,071,064
Other noncurrent liabilities	596,365	621,043
Total noncurrent liabilities	238,173,087	199,734,040
Total liabilities	297,197,489	266,820,176
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock (par value $0.001; 200,000,000 shares authorized; 46,254,579 and 45,270,768 shares issued and 46,071,284 and 45,129,407 shares outstanding, respectively)	46,254	45,271
Additional paid-in capital	244,662,869	243,484,877
Retained deficit	(73,840,436)	(73,352,170)
Treasury stock (at cost, 183,295 and 141,361 shares, respectively)	(820,668)	(672,280)
Total stockholders' equity	170,048,019	169,505,698
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 467,245,508	$ 436,325,874