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CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED (USD $)
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3 Months Ended | |
|---|---|---|
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Mar. 31, 2013
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Mar. 31, 2012
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| Revenues | ||
| Oil and Gas Revenues | $ 1,151,957 | $ 328,003 |
| Costs and Operating Expenses | ||
| Oil and gas production costs | 141,255 | 157,181 |
| Oil and gas production taxes | 53,217 | 16,750 |
| Depreciation, depletion and amortization | 343,608 | 81,128 |
| Accretion expense | 11,453 | 4,762 |
| General and administrative expense (including $815,763 and $290,886, respectively in share-based compensation) | 1,567,704 | 657,309 |
| Total Costs and Operating Expenses | 2,117,237 | 917,130 |
| Other Income (Expense) | ||
| Gain on derivative put options | 0 | 52,688 |
| Interest expense | 0 | (93,835) |
| Net Other Expense | 0 | (41,147) |
| Net Loss | $ (965,280) | $ (630,274) |
| Basic Loss per Share | $ (0.07) | $ (0.18) |
| Diluted Loss per Share | $ (0.07) | $ (0.18) |
| X | ||||||||||
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- Definition
The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period No definition available.
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| X | ||||||||||
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- Definition
Diluted Loss per Share No definition available.
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| X | ||||||||||
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- Definition
Increase in the fair value of the derivative or group of derivatives included in earnings in the period. No definition available.
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| X | ||||||||||
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- Definition
Amount of accretion expense recognized during the period that is associated with an asset retirement obligation. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate net amount of depreciation, amortization, and accretion recognized during an accounting period. As a noncash item, the net amount is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Costs incurred to operate and maintain an entities' wells and related equipment and facilities, including depreciation and applicable operating costs of support equipment and facilities and other costs of operating and maintaining those wells and related equipment and facilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue during the period related to oil and gas business activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Details
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| X | ||||||||||
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- Definition
This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
A tax assessed on oil and gas production. No definition available.
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| X | ||||||||||
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- Details
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