Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,693,136)	$ (1,496,468)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation, depletion, amortization and accretion	639,449	1,010,998
Share-based compensation	310,062	238,233
Loss (gain) on sale of assets	8,787	(61,855)
Amortization of deferred financing costs and debt discount	427,604	237,500
Unrealized gain on derivative contracts	(123,677)
Interest and legal expense added to principal		437,934
Changes in operating assets and liabilities:
Accounts receivable, trade	851,418	907,853
Accounts receivable due from non-operator, net		(864,311)
Advance royalties and other assets	(481)
Prepaid expenses and other current assets	(420,182)	(101,091)
Accounts payable and accrued expenses	(183,663)	(1,797,752)
Accounts payable related party		(650)
Revenue payable	59,943	(451,825)
Net cash used by operating activities	(1,123,876)	(1,941,434)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of assets	2,618,025	274,947
Expenditures for oil and gas properties	(1,377,891)	(1,466,178)
Expenditures for property and equipment	(5,251)	(35,614)
Net cash provided (used) by investing activities	1,234,883	(1,226,845)
CASH FLOWS FROM FINANCING ACTIVITIES:
Financing costs paid	(110,365)	(201,425)
Payments on notes payable	(5,571)	(8,100)
Proceeds from notes payable	25,000,000
Net cash provided (used) by financing activities	24,884,064	(209,525)
NET CHANGE IN CASH	24,995,071	(3,377,804)
CASH, BEGINNING OF PERIOD	1,009,084	7,885,652
CASH, END OF PERIOD	26,004,155	4,507,848
CASH PAID FOR:
Interest	1,638,040	465
Income taxes
Non-cash investing and financing activities:
Due to operator for expenditures for oil and gas properties	162,678
Increase in asset retirement obligation	$ 920	$ 5,471