Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Consolidated Statements of Operations [Abstract]
REVENUES	$ 653,696	$ 5,314,257	$ 6,035,926	$ 10,838,672
COSTS AND EXPENSES
Production costs	829,256	1,648,397	3,558,674	2,914,805
Depreciation, depletion, amortization and accretion	550,759	1,360,678	2,303,807	3,764,598
Selling, general and administrative	1,226,313	1,401,996	4,548,302	4,044,886
Total costs and expenses	2,606,328	4,411,071	10,410,783	10,724,289
Gain on sale of assets	43,836	3,531	112,898	12,627,896
(LOSS) INCOME FROM OPERATIONS	(1,908,796)	906,717	(4,261,959)	12,742,279
OTHER INCOME (EXPENSES)
Interest income	3,968	180	17,147	648
Interest expense	(1,659,934)	(367,004)	(3,530,819)	(1,217,121)
(Loss) gain on derivative contracts	(63,023)	40,280	780,956	50,299
Total other income (expenses)	(1,718,989)	(326,544)	(2,732,716)	(1,166,174)
NET (LOSS) INCOME BEFORE INCOME TAXES	(3,627,785)	580,173	(6,994,675)	11,576,105
INCOME TAX BENEFIT (EXPENSE)	58,013	36,000	58,013	(214,000)
NET (LOSS) INCOME	$ (3,569,772)	$ 616,173	$ (6,936,662)	$ 11,362,105
NET (LOSS) INCOME PER SHARE - BASIC	$ (0.27)	$ 0.05	$ (0.53)	$ 0.89
NET (LOSS) INCOME PER SHARE - DILUTED	$ (0.27)	$ 0.04	$ (0.53)	$ 0.82
WEIGHTED AVERAGE SHARES - BASIC	13,156,578	12,872,078	13,042,264	12,781,913
WEIGHTED AVERAGE SHARES - DILUTED	13,156,578	14,319,629	13,042,264	13,774,255