Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
OPERATING REVENUES
Oil and gas sales	$ 2,061,060	$ 3,463,209
Natural gas liquid sales	415,646	921,828
Gas transportation, gathering, and processing	19,463	42,716
Other income	133	1,777
Total operating revenues	2,496,302	4,429,530
OPERATING COSTS AND EXPENSES
Production costs	2,542,191	3,037,186
Depreciation, depletion, amortization and accretion	7,262,821	1,802,830
General and administrative	838,880	1,180,830
Total operating costs and expenses	10,643,892	6,020,846
LOSS FROM OPERATIONS	(8,147,590)	(1,591,316)
OTHER (EXPENSES) INCOME
Interest income	561	542
Interest expense	(6,892,608)	(3,115,737)
Gains on commodity derivatives	1,183,626	7,375,180
Total other (expenses) income	(5,708,421)	4,259,985
NET (LOSS) INCOME BEFORE INCOME TAXES	(13,856,011)	2,668,669
INCOME TAX	0	0
NET (LOSS) INCOME	$ (13,856,011)	$ 2,668,669
NET (LOSS) INCOME PER SHARE - BASIC	$ (0.90)	$ 0.18
NET (LOSS) INCOME PER SHARE - DILUTED	$ (0.90)	$ 0.18
WEIGHTED AVERAGE SHARES - BASIC	15,316,999	14,889,031
WEIGHTED AVERAGE SHARES - DILUTED	15,316,999	15,079,726