CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Operating revenues
Oil and gas sales	$ 28,354	$ 23,180
Operating expenses
Lease operating expense and taxes	8,500	7,735
Depreciation, depletion and amortization	10,105	6,129
General and administrative	4,293	3,563
Total operating expenses	22,898	17,427
Income from operations	5,456	5,753
Other income (expense)
Interest and other income	25	19
Interest expense	(775)	(571)
Loss on derivative financial instruments	(878)	(5,772)
Total other expense	(1,628)	(6,324)
Income (loss) before taxes	3,828	(571)
Deferred income tax expense	17	5
Net income (loss)	3,811	(576)
Less dividends and accretion on preferred shares	3	3
Net income (loss) applicable to common stockholders	$ 3,808	$ (579)
Earnings (loss) per share - Basic (in dollars per share)	$ 0.05	$ (0.01)
Earnings (loss) per share - Diluted (in dollars per share)	$ 0.05	$ (0.01)
Weighted average common shares outstanding - Basic (in shares)	71,025,089	70,741,785
Weighted average common shares outstanding - Diluted (in shares)	72,194,300	70,741,785