Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 998,830	$ 1,585,530
Accounts receivable, trade	4,808,362	4,248,152
Accounts receivable, related parties	18,500	18,500
Derivative assets	3,577,996	5,420,309
Advance royalties	227,633	68,133
Prepaid expenses	632,400	767,233
Deferred financing costs, net of amortization of $1,125,807 and $599,971, respectively	1,051,671	1,051,671
Total current assets	11,315,392	13,159,528
OIL AND GAS PROPERTIES, USING SUCCESSFUL EFFORTS ACCOUNTING
Proved properties	84,852,988	88,194,425
Unproved properties	6,276,687	5,728,196
Pipelines	4,407,117	1,259,052
Accumulated depreciation, depletion and amortization	(21,113,333)	(17,731,699)
Oil and gas properties, net	74,423,459	77,449,974
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $404,435 and $364,710, respectively	469,969	504,526
OTHER ASSETS
Assets held for sale	14,164,597	14,301,375
Derivative assets		2,809,847
Deferred financing costs	2,629,178	3,155,014
Other assets	389,887	388,881
Total other assets	17,183,662	20,655,117
TOTAL ASSETS	103,392,482	111,769,145
CURRENT LIABILITIES
Accounts payable, trade	878,323	531,761
Accounts payable due to drilling operator	1,203,986	5,777,983
Accounts payable, related party	1,500	1,500
Accrued expenses	4,833,688	7,429,874
Environmental settlement and related costs	3,000,000	3,600,000
Revenue payable	17,979	25,019
Notes payable - current	960,256	4,402
Total current liabilities	10,895,732	17,370,539
LONG-TERM LIABILITIES
Notes payable, net	111,508,558	109,539,647
Asset retirement obligations	115,672	90,928
Environmental settlement and related costs	3,000,000	3,000,000
Commodity derivative liability	1,345,504	716,488
Deferred revenue	62,510	62,510
Total long-term liabilities	116,032,244	113,409,573
Total liabilities	$ 126,927,976	$ 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; 15,146,477 and 14,578,467 shares issued, and 15,144,477 and 14,576,467 shares outstanding, respectively	$ 15,146	$ 14,578
Additional paid-in capital	45,611,641	44,323,190
Treasury stock, at cost, 2,000 shares	(1,950)	(1,950)
Accumulated deficit	(69,160,331)	(63,346,785)
Total stockholders' equity (deficit)	(23,535,494)	(19,010,967)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 103,392,482	$ 111,769,145