Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 1,182,656	$ 1,585,530
Accounts receivable, trade	4,501,676	4,248,152
Accounts receivable, related parties	18,500	18,500
Derivative assets	6,497,401	5,420,309
Advance royalties	172,883	68,133
Prepaid expenses	710,554	767,233
Deferred financing costs, net of amortization of $862,889 and $599,971, respectively	1,051,671	1,051,671
Total current assets	14,135,341	13,159,528
OIL AND GAS PROPERTIES, USING SUCCESSFUL EFFORTS ACCOUNTING
Proved properties	91,578,014	88,194,425
Unproved properties	6,182,957	5,728,196
Pipelines	4,407,117	1,259,052
Accumulated depreciation, depletion and amortization	(19,029,213)	(17,731,699)
Oil and gas properties, net	83,138,875	77,449,974
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $384,978 and $364,710 respectively	486,497	504,526
OTHER ASSETS
Assets held for sale	14,720,207	14,301,375
Derivative assets	7,349,234	2,809,847
Deferred financing costs	2,892,096	3,155,014
Other assets	389,378	388,881
Total other assets	25,350,915	20,655,117
TOTAL ASSETS	123,111,628	111,769,145
CURRENT LIABILITIES
Accounts payable, trade	267,968	531,761
Accounts payable due to drilling operator	13,032,589	5,777,983
Accounts payable, related party	1,500	1,500
Accrued expenses	4,962,408	7,429,874
Environmental settlement and related costs	3,600,000	3,600,000
Revenue payable	16,072	25,019
Commodity derivative liability	255,500
Notes payable - current	925,700	4,402
Total current liabilities	23,061,737	17,370,539
LONG-TERM LIABILITIES
Notes payable, net	111,611,121	109,539,647
Asset retirement obligations	103,300	90,928
Environmental settlement and related costs	3,000,000	3,000,000
Commodity derivative liability	732,464	716,488
Deferred revenue	62,510	62,510
Total long-term liabilities	115,509,395	113,409,573
Total liabilities	$ 138,571,132	$ 130,780,112
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock; 10,000,000 shares authorized at $0.001 par value; -0- shares issued and outstanding
Common stock; 500,000,000 shares authorized at $0.001 par value; 14,996,477 and 14,578,467 shares issued, and 14,994,477 and 14,576,467 shares outstanding, respectively	$ 14,997	$ 14,578
Additional paid-in capital	45,205,565	44,323,190
Treasury stock, at cost, 2,000 shares	(1,950)	(1,950)
Accumulated deficit	(60,678,116)	(63,346,785)
Total stockholders' equity (deficit)	(15,459,504)	(19,010,967)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 123,111,628	$ 111,769,145