Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash	$ 434,498	$ 1,585,530
Restricted cash	786,581
Accounts receivable, trade	2,586,018	4,248,152
Accounts receivable, related parties	18,500	18,500
Accounts receivable due from drilling operator	253,753	0
Derivative assets	3,160,081	5,420,309
Advance royalties	282,383	68,133
Prepaid expenses	617,135	767,233
Deferred financing costs, net of amortization of $1,805,144 and $599,971, respectively	3,550,184	1,051,671
Total current assets	11,689,133	13,159,528
OIL AND GAS PROPERTIES, USING SUCCESSFUL EFFORTS ACCOUNTING
Proved properties	84,972,127	88,194,425
Unproved properties	6,779,460	5,728,196
Pipelines	4,407,117	1,259,052
Accumulated depreciation, depletion and amortization	(23,045,562)	(17,731,699)
Oil and gas properties, net	73,113,142	77,449,974
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $421,870 and $364,710, respectively	452,534	504,526
OTHER ASSETS
Assets held for sale	13,475,975	14,301,375
Derivative assets	1,376,585	2,809,847
Deferred financing costs	887,546	3,155,014
Other assets	390,409	388,881
Total other assets	16,130,515	20,655,117
TOTAL ASSETS	101,385,324	111,769,145
CURRENT LIABILITIES
Accounts payable, trade	2,134,665	531,761
Accounts payable due to drilling operator	0	5,777,983
Accounts payable, related party	1,500	1,500
Accrued expenses	2,953,720	7,429,874
Environmental settlement and related costs	2,000,000	3,600,000
Commodity derivative liability	226,633
Revenue payable	34,511	25,019
Notes payable - current	116,328,901	4,402
Total current liabilities	123,679,930	17,370,539
LONG-TERM LIABILITIES
Notes payable, net	1,261,371	109,539,647
Asset retirement obligations	128,044	90,928
Environmental settlement and related costs	3,000,000	3,000,000
Commodity derivative liability	1,264,412	716,488
Deferred revenue	62,510	62,510
Total long-term liabilities	5,716,337	113,409,573
Total liabilities	$ 129,396,267	$ 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; 15,169,477 and 14,578,467 shares issued, and 15,167,477 and 14,576,467 shares outstanding, respectively	$ 15,169	$ 14,578
Additional paid-in capital	45,736,645	44,323,190
Treasury stock, at cost, 2,000 shares	(1,950)	(1,950)
Accumulated deficit	(73,760,807)	(63,346,785)
Total stockholders' equity (deficit)	(28,010,943)	(19,010,967)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 101,385,324	$ 111,769,145