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11. Revolving Credit Facilities and Long Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2015
Debt Disclosure [Abstract] |
Revolving credit facility |
|  | September 30, |  |  | December 31, |
|  | 2015 |  |  | 2014 |
Senior Revolving Credit Facility, Cadence Bank, N.A. |  | $ | 26,650,000 |  |  | $ | 22,600,000 |
Subordinated Credit Agreement, Chambers |  |  | 30,000,000 |  |  |  | 30,000,000 |
PIK Interest on Subordinated Credit Agreement, Chambers |  |  | 2,269,636 |  |  |  | 1,307,086 |
Total credit facilities and long term debts |  |  | 58,919,636 |  |  |  | 53,907,086 |
Less: Unamortized OID |  |  | (299,356 | ) |  |  | (426,734 | )
Less: Unamortized debt discount attributable to warrants |  |  | (1,161,737 | ) |  |  | (1,645,749 | )
Total credit facilities and long term debts, net of discounts |  |  | 57,458,543 |  |  |  | 51,834,603 |
Less: current maturities |  |  | – |  |  |  | – |
Long term portion of credit facilities and long term debts |  | $ | 57,458,543 |  |  | $ | 51,834,603 |
Components of interest expense |
|  | Nine Months Ended |
|  | September 30, |
|  | 2015 |  |  | 2014 |
Accrued PIK interest |  | $ | 962,551 |  |  | $ | 787,344 |
Amortization of OID |  |  | 127,378 |  |  |  | 102,566 |
Interest and commitment fees |  |  | 3,287,131 |  |  |  | 2,444,676 |
Amortization of debt issuance costs |  |  | 287,227 |  |  |  | 229,936 |
Amortization of warrant costs |  |  | 484,012 |  |  |  | 468,670 |
Less interest capitalized to the full cost pool of our proved oil & gas properties |  |  | (352,572 | ) |  |  | (216,895 | )
|  | $ | 4,795,727 |  |  | $ | 3,816,297 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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