Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash	$ 248,858	$ 473,081
Restricted cash	18,839	231,916
Accounts receivable, trade	3,631,492	1,711,926
Accounts receivable due from drilling operator, net	31,097	218,456
Accounts receivable, related parties	18,500	18,500
Commodity derivatives	556,950	3,417,887
Advance royalties	446,633	337,133
Prepaid expenses	651,738	642,740
Total current assets	5,604,107	6,833,183
OIL AND GAS PROPERTIES, USING SUCCESSFUL EFFORTS ACCOUNTING
Proved properties	102,133,188	84,956,392
Unproved properties	7,454,349	6,829,029
Pipelines	4,161,744	4,435,421
Accumulated depreciation, depletion and amortization	(41,729,727)	(26,442,766)
Oil and gas properties, net	72,019,554	69,778,076
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $423,288 and $404,669, respectively	397,982	426,601
OTHER ASSETS
Assets held for sale		13,460,614
Commodity derivatives	873,368	2,423,508
Other assets	391,959	390,925
Total other assets	1,265,327	16,275,047
TOTAL ASSETS	79,286,970	93,312,907
CURRENT LIABILITIES
Accounts payable, trade	1,108,954	1,321,852
Accounts payable due to drilling operator, net		548,086
Accounts payable, related party	1,500	1,500
Accrued expenses	2,587,805	1,954,257
Environmental settlement and related costs	1,750,000	2,000,000
Revenue payable	9,596	8,578
Commodity derivatives	372,589	474,696
Notes payable, net - current (Note 7)	131,334,333	117,512,487
Total current liabilities	137,164,777	123,821,456
LONG-TERM LIABILITIES
Notes payable, net	2,332,296	2,134,018
Asset retirement obligations	64,413	39,669
Environmental settlement and related costs	3,000,000	3,000,000
Commodity derivatives	870,718	1,253,024
Deferred revenue		62,510
Total long-term liabilities	6,267,427	6,489,221
Total liabilities	143,432,204	130,310,677
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT
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; 15,615,754 and 15,263,977 shares issued, and 15,613,754 and 15,261,977 shares outstanding, respectively	15,616	15,264
Additional paid-in capital	46,394,055	45,965,168
Treasury stock, at cost, 2,000 shares	(1,950)	(1,950)
Accumulated deficit	(110,552,955)	(82,976,252)
Total stockholders' deficit	(64,145,234)	(36,997,770)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 79,286,970	$ 93,312,907