Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Consolidated Statements of Operations [Abstract]
REVENUES	$ 2,917,528	$ 1,630,099
COSTS AND EXPENSES
Production Costs	1,621,166	426,087
Depreciation, depletion, amortization and accretion	1,010,998	553,742
Selling, general and administrative	1,412,775	1,061,778
Total costs and expenses	4,044,939	2,041,607
Gain (loss) on sale of assets	61,855	12,624,365
(LOSS) INCOME FROM OPERATIONS	(1,065,556)	12,212,857
OTHER INCOME (EXPENSES)
Interest Income	7,193	247
Interest Expense	(438,744)	(407,194)
Gain on derivative contracts	639	(2,635)
Total other income (expenses)	(430,912)	(409,582)
NET (LOSS) INCOME BEFORE INCOME TAXES	(1,496,468)	11,803,275
INCOME TAXES		270,000
NET (LOSS) INCOME	$ (1,496,468)	$ 11,533,275
NET (LOSS) INCOME PER SHARE - BASIC	$ (0.12)	$ 0.91
NET (LOSS) INCOME PER SHARE - DILUTED	$ (0.12)	$ 0.81
WEIGHTED AVERAGE SHARES - BASIC	12,979,828	12,737,328
WEIGHTED AVERAGE SHARES - DILUTED	12,979,828	14,266,803