FEDERAL INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

FEDERAL INCOME TAXES

Schedule of deferred federal income tax asset (liability)

	December 31,
	2012			2011			2010
	(Restated)			(Restated)			(Restated)
Property development costs-net of amortization	$	12,230,000		$	10,444,000		$	11,090,000
Accelerated depreciation	(294,000		)	(105,000		)	(151,000		)
Restoration reserves	(2,681,000		)	(2,080,000		)	(1,560,000		)
Net operating loss carry-forwards utilized	996,000			143,000			—
Net operating loss and percentage depletion carry-forwards	57,724,000			39,496,000			34,766,000
Valuation allowance and other-net	(67,975,000		)	(47,898,000		)	(44,145,000		)
Total deferred income tax asset (liability)	$	—		$	—		$	—

Schedule of major items causing the Company's tax provision to differ from the federal statutory rate

	For the Twelve Months Ended December 31,
	2012					2011					2010
	Amount			% of Pretax Income		Amount			% of Pretax Income		Amount			% of Pretax Income
	(Restated)					(Restated)					(Restated)
Pretax income (loss)	$	(19,360,853	)			$	(11,065,842	)			$	(11,803,719	)
Pretax income (loss) times statutory tax rate	(6,582,690		)	34	%	(3,762,386		)	34	%	(4,013,264		)	34	%
Increases (decreases) in taxes resulting from:
Change in valuation allowance	6,582,690			-34	%	3,762,386			-34	%	4,013,264			-34	%
Income tax benefit	$	—		0	%	$	—		0	%	$	—		0	%