XML 33 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Dec. 31, 2010
Dec. 31, 2009
Revenue:            
Oil and gas $ 3,387,665 $ 1,138,872 $ 5,894,191 $ 3,790,306 $ 4,879,718 $ 5,676,271
Commodity derivative gain 155,570 290,840 280,500 701,970 691,660 226,476
Other income 291,093 132,186 480,568 255,323 360,236 334,878
Total revenue 3,834,328 1,561,898 6,655,259 4,747,599 5,931,614 6,237,625
Expenses:            
Lease operating expenses 625,100 255,221 1,313,817 767,147 1,053,387 1,134,936
Transportation costs 469,650 103,724 741,855 226,298 444,033 393,409
Production and property taxes 213,597 101,666 410,417 312,648 430,433 563,502
General and administrative 1,182,166 677,394 3,771,081 2,411,771 3,094,410 2,672,215
Depreciation, depletion and amortization 914,182 363,383 1,661,104 1,163,263 1,540,175 2,625,086
Accretion of asset retirement obligations 59,574 4,139 71,315 12,621 17,367 43,315
Impairment of oil and gas properties 3,825,042   12,204,761     16,076,515
Total expenses 7,289,311 1,505,527 20,174,350 4,893,748 6,579,805 23,508,978
Operating loss (3,454,983) 56,371 (13,519,091) (146,149) (648,191) (17,271,353)
Other income and (expense):            
Interest income 629 10,196 668 29,329 38,710 37,959
Interest expense (130,834) (41,354) (323,147) (291,000) (352,138) (1,167,247)
Equity investment income (36,479)   4,880   22,745  
Gain on sale of oil and gas properties       9,876,510 10,103,932  
Total other income and (expense) (616,684) (31,158) (780,163) 9,614,839 9,813,249 (1,129,288)
Income (loss) before income taxes (4,071,667) 25,213 (14,299,254) 9,468,690 9,165,058 (18,400,641)
Income taxes:            
Provision for income taxes (benefit)       5,404,000 5,404,000 (4,784,000)
Net income (loss) before non-controlling interests (4,071,667) 25,213 (14,299,254) 4,064,690 3,761,058 (13,616,641)
Net income attributable to non-controlling interests 844,136 (141,392) 947,193 (908,453) (941,093)  
Net income (loss) attributable to controlling interest $ (3,227,531) $ (116,179) $ (13,352,061) $ 3,156,237 $ 2,819,965 $ (13,616,641)