Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Financial Instruments Tables [Abstract]

Schedule of Derivative Instruments [Text Block]

Type	Commodity Reference Price	Remaining Contract Period	Volume - MMBTU/Day	Average Price/MMBTU		Fair Value - March 31, 2013
						(Liability)
Swap	NYMEX	Apr-Oct 2013	320,000	$3.43	$	(44,715)

Subsequent to March 31, 2013 and through May 3, 2013, the Company has entered into the following open commodity derivative contracts to manage price risk on a portion of its natural gas production whereby the Company receives the fixed price and pays the variable price:

Type	Commodity Reference Price	Remaining Contract Period	Volume - MMBTU/Day	Average Price/MMBTU
Swap	NYMEX	May-Oct 2013	70,000	$4.07

Gain or loss on derivative instruments

		For the Three Months
		Ended March 31,
Natural Gas Commodity Derivatives:		2013		2012
Realized gain on commodity derivatives (1)	$	-	$	62,537
Unrealized (loss) gain on commodity derivatives (1)		(44,715)		57,746
Total (loss) gain on commodity derivatives	$	(44,715)	$	120,283
(1) Included in (loss) gain on commodity derivatives in the Consolidated Statements of Operations.