Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS
Cash	$ 389,003	$ 473,081
Restricted cash	18,839	231,916
Accounts receivable, trade	2,377,335	1,730,426
Accounts receivable due from drilling operator, net	258,892	218,456
Commodity derivatives	1,091,835	3,417,887
Advance royalties	501,570	337,133
Prepaid expenses	616,827	642,740
Total current assets	5,254,301	6,833,183
OIL AND GAS PROPERTIES, USING SUCCESSFUL EFFORTS ACCOUNTING
Proved properties	101,908,062	84,956,392
Unproved properties	8,204,423	6,829,029
Pipelines	4,151,744	4,435,421
Accumulated depreciation, depletion and amortization	(43,481,119)	(26,442,766)
Oil and gas properties, net	70,783,110	69,778,076
PROPERTY AND EQUIPMENT, net of accumulated depreciation of $431,545 and $404,669, respectively	403,028	426,601
OTHER ASSETS
Assets held for sale		13,460,614
Commodity derivatives	1,104,800	2,423,508
Other assets	392,477	390,925
Total other assets	1,497,277	16,275,047
TOTAL ASSETS	77,937,716	93,312,907
CURRENT LIABILITIES
Accounts payable, trade	1,329,300	1,321,852
Accounts payable due to drilling operator, net		548,086
Accounts payable, related party	1,500	1,500
Accrued expenses	1,770,947	1,954,257
Environmental settlement and related costs	1,750,000	2,000,000
Revenue payable	8,720	8,578
Commodity derivatives	28,234	474,696
Notes payable, net - current (Note 7)	138,671,655	117,512,487
Total current liabilities	143,560,356	123,821,456
LONG-TERM LIABILITIES
Notes payable, net	2,439,422	2,134,018
Asset retirement obligations	76,785	39,669
Environmental settlement and related costs	3,000,000	3,000,000
Commodity derivatives	344,246	1,253,024
Deferred revenue		62,510
Total long-term liabilities	5,860,453	6,489,221
Total liabilities	149,420,809	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; 16,131,648 and 15,263,977 shares issued, and 16,129,648 and 15,261,977 shares outstanding, respectively	16,132	15,264
Additional paid-in capital	47,033,432	45,965,168
Treasury stock, at cost, 2,000 shares	(1,950)	(1,950)
Accumulated deficit	(118,530,707)	(82,976,252)
Total stockholders' deficit	(71,483,093)	(36,997,770)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 77,937,716	$ 93,312,907