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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2012
Derivative Instruments [Abstract]  
Derivative Contracts [Table Text Block]

The following derivative contracts were in place at December 31, 2012:

 

 

    Term     Monthly Volumes   Price/Bbl     Fair Value  
Crude oil swap     1/13-12/14     1,933 Bbls   $ 76.74     $ (1,077,333 )
Crude oil swap     7/11-12/15     2,517 Bbls   $ 83.70       (722,962 )
                        $ (1,800,295 )