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CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Sep. 30, 2011
Dec. 31, 2010
Cash$ 38,786$ 373,470
Restricted cash100,0000
Accounts receivable, net3,89419,466
Prepaid and other assets89,74836,203
Other current receivable01,440,000
Total Current Assets232,4281,869,139
Proved oil and gas properties, subject to amortization1,191,3961,191,488
Unproved oil and gas properties, not subject to amortization2,302,4890
Less: accumulated depletion and impairment(129,892)(69,432)
Total oil and gas properties, net3,363,9931,122,056
Equipment, net of accumulated depreciation and impairment of $782,420 and $753,386412,085470,776
Option on oil and gas properties0100,000
Assets from discontinued operations - held for sale065,626
Total Assets4,008,5063,627,597
Accounts payable111,99329,575
Accrued expenses858,921447,173
Accrued expenses - related party331,775255,397
Note payable - related party106,1500
Note payable - other22,0044,400
Note payables - other, net of discount of $65,873 and $14,0281,209,194255,972
Total Current Liabilities2,640,037992,517
Notes payable - related party1,120,0001,120,000
Asset retirement obligations12,34010,862
Total Liabilities3,772,3772,123,379
Preferred stock, $0.001 par value, 20,000,000 shares authorized: Series A - 6,000,000 shares issued and outstanding; Series B - one and zero share issued and outstanding6,0006,000
Common stock, $0.001 par value, 180,000,000 shares authorized; 71,425,905 and 67,909,238 shares issued and outstanding71,42667,909
Additional paid-in capital75,962,39675,492,738
Accumulated deficit(75,803,693)(74,062,429)
Total Stockholders' Equity236,1291,504,218
Total Liabilities and Stockholders' Equity4,008,5063,627,597
Series A Preferred Stock
  
Preferred stock, $0.001 par value, 20,000,000 shares authorized: Series A - 6,000,000 shares issued and outstanding; Series B - one and zero share issued and outstanding6,0006,000
Series B Preferred Stock
  
Preferred stock, $0.001 par value, 20,000,000 shares authorized: Series A - 6,000,000 shares issued and outstanding; Series B - one and zero share issued and outstanding