Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
Assets    
Cash and cash equivalents $ 22,711,000 $ 2,468,000
Accounts receivable - oil and gas 22,018,000 14,952,000
Accounts receivable - related parties 2,479,000 573,000
Prepaid expenses and other current assets 1,609,000 1,732,000
Short-term derivative instruments 6,752,000  
Total current assets 55,569,000 19,725,000
Property and equipment:    
Oil and natural gas properties, full-cost accounting,$108,678,000 and $16,778,000 excluded from amortization in 2011 and 2010, respectively 957,752,000 747,344,000
Other property and equipment 7,746,000 7,609,000
Accumulated depletion, depreciation, amortization and impairment (553,428,000) (512,822,000)
Property and equipment, net 412,070,000 242,131,000
Other assets    
Equity investments 56,029,000 33,021,000
Note receivable - related party 22,220,000 20,006,000
Long-term derivative instruments 1,987,000  
Other assets 4,989,000 4,182,000
Total other assets 85,225,000 57,209,000
Deferred tax asset 573,000 628,000
Total assets 553,437,000 319,693,000
Liabilities and Stockholders' Equity    
Accounts payable and accrued liabilities 61,160,000 41,155,000
Asset retirement obligation - current 635,000 635,000
Short-term derivative instruments   4,720,000
Current maturities of long-term debt 139,000 2,417,000
Total current liabilities 61,934,000 48,927,000
Asset retirement obligation - long-term 11,640,000 10,210,000
Long-term debt, net of current maturities 2,178,000 49,500,000
Total liabilities 75,752,000 108,637,000
Commitments and contingencies (Note 12)    
Preferred stock, $.01 par value; 5,000,000 authorized,30,000 authorized as redeemable 12% cumulative preferred stock,Series A; 0 issued and outstanding    
Stockholders' equity:    
Common stock - $.01 par value, 100,000,000 authorized,50,944,254 issued and outstanding in 2011 and 44,645,435 in 2010 509,000 446,000
Paid-in capital 475,703,000 296,253,000
Accumulated other comprehensive income (loss) 7,900,000 (1,768,000)
Retained earnings (accumulated deficit) (6,427,000) (83,875,000)
Total stockholders' equity 477,685,000 211,056,000
Total liabilities and stockholders' equity $ 553,437,000 $ 319,693,000