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Condensed Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities    
Net Income (loss) $ 741,120 $ (2,017,262)
Depreciation, depletion and amortization 1,633,467 1,128,712
Stock, options and warrants issued for services 285,230 368,278
Accretion of asset retirement obligation 93,973 87,437
(Gain) on derivatives (927,039) (469,495)
(Gain) on sale of fixed assets (1,378) 0
Adjustments to reconcile net income (loss) to cash from operating activities:    
Accounts receivable 232,443 (1,097,018)
Deposits and prepaid expenses (93,123) 30,032
Accounts payable 28,398 1,245,844
Accrued liabilities 291,652 (38,021)
Cash flows from operating activities 2,284,743 (761,493)
Cash flows from investing activities    
Purchase of Treasury Stock (226,000) (1,500,000)
Purchase of fixed assets (115,274) (276,294)
Additions to oil properties (10,247,539) (6,288,695)
Sale of oil properties 0 3,825,000
Proceeds from sale of vehicles 11,240 0
Cash flows from investing activities (10,577,573) (4,239,989)
Cash flows from financing activities    
Sale of marketable securities 0 1,400,000
Sale of common stock 0 3,435,996
Sale of non-controlling interest in subsidiary 2,650,000 2,350,000
Dividend paid (433,696) (56,263)
Borrowings on long-term debt 4,700,000 700,000
Distribution to non-controlling interest in subsidiary (592,936)  
Payments on long-term debt (33,484) (3,019,630)
Cash flows from financing activities 6,289,884 4,810,103
Increase (decrease) in cash and cash equivalents (2,002,946) (191,379)
Cash and cash equivalents, beginning 2,770,440 2,961,819
Cash and cash equivalents, end 767,494 2,770,440
Supplemental disclosures:    
Interest paid 195,125 445,365
Income taxes paid 0 0
Non-cash transactions:    
Share-based payments issued for services 452,263 368,278
Stock issued for oil properties and supporting assets 0 60,000
Treasury stock purchased with a note payable 825,000 0
Preferred dividends payable $ 174,763 $ 0