Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands	6 Months Ended
Jun. 30, 2011	Jun. 30, 2010
Cash flows from operating activities:
Net income	$ 1,419	$ 37,532
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred tax benefit	(329)	(1,380)
Depreciation, depletion and amortization	28,719	28,728
Ceiling test write down	18,907
Non-cash gain on legal settlement		(4,164)
Accretion of asset retirement obligation	1,179	876
Share based compensation expense	1,917	3,752
Amortization costs and other	308	787
Payments to settle asset retirement obligations	(513)	(5,389)
Changes in working capital accounts:
Revenue receivable	3,719	2,659
Joint interest billing receivable	(13,976)	(7,110)
Prepaid drilling and pipe costs	5,507	4,034
Accounts payable and accrued liabilities	(3,358)	8,359
Advances from co-owners	18,235	(423)
Other	(1,843)	(1,943)
Net cash provided by operating activities	59,891	66,318
Cash flows used in investing activities:
Investment in oil and gas properties	(69,006)	(54,822)
Proceeds from sale of unevaluated properties		22,473
Proceeds from sale of oil and gas properties		35,000
Net cash provided by (used in) investing activities	(69,006)	2,651
Cash flows used in financing activities:
Net payments for share based compensation	(896)	(228)
Deferred financing costs	(16)	(104)
Payment of preferred stock dividend	(2,569)	(2,565)
Repayment of bank borrowings		(29,000)
Net cash used in financing activities	(3,481)	(31,897)
Net (decrease) increase in cash and cash equivalents	(12,596)	37,072
Cash and cash equivalents, beginning of period	63,237	20,772
Cash and cash equivalents, end of period	50,641	57,844
Cash paid during the period for:
Interest	8,291	8,237
Income taxes	$ 1	$ 3

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