Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Dec. 31, 2012
Current assets:
Cash	$ 231,329	$ 767,494
Accounts receivable	988,264	1,221,962
Marketable securities	1,018,573	1,018,573
Deposits and prepaid expenses	611,435	528,468
Total current assets	2,849,601	3,536,497
Fixed assets, net of accumulated depreciation	284,442	309,877
Other assets:
Oil properties using full-cost accounting, net of accumulated DD&A	34,963,246	33,202,898
Total assets	38,097,289	37,049,272
Current liabilities:
Accounts payable	1,484,021	2,384,090
Accrued liabilities	598,341	590,205
Derivative liability	789,055	757,181
Note Payable	425,000	825,000
Total current liabilities	3,296,417	4,556,476
Asset retirement obligation	1,336,533	1,336,151
Long-term debt	11,000,000	8,500,000
Derivative liability	420,739	1,043,114
Total non-current liabilities	12,757,272	10,879,265
Total liabilities	16,053,689	15,435,741
Commitments & Contingencies
Stockholders' Equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 4,779,460 shares issued and outstanding	4,780	4,780
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 73,676,529 at June 30, 2013 and 73,586,529 at December 31, 2012	73,677	73,587
Treasury Stock, 5,750,000 shares	(2,551,000)	(2,551,000)
Paid-in capital	45,437,796	45,352,096
Accumulated other comprehensive income	(552,589)	(552,589)
Retained (deficit)	(20,369,064)	(20,713,343)
Total stockholder’s equity	22,043,600	21,613,531
Total liabilities and stockholders' equity	$ 38,097,289	$ 37,049,272