Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Cash flows from operating activities:
Net income (loss)	$ (17,326)	$ 3,177
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred tax expense (benefit)	(988)	1
Depreciation, depletion and amortization	15,230	14,062
Ceiling test write-down	20,111	5,934
Accretion of asset retirement obligation	500	752
Share based compensation expense	1,923	1,032
Amortization costs and other	198	153
Payments to settle asset retirement obligations	(782)	(513)
Changes in working capital accounts:
Revenue receivable	734	40
Prepaid drilling and pipe costs	2,317	2,663
Joint interest billing receivable	(6,121)	(9,293)
Accounts payable and accrued liabilities	10,502	(1,430)
Advances from co-owners	(12,619)	4,114
Other	272	(2,433)
Net cash provided by operating activities	13,951	18,259
Cash flows used in investing activities:
Investment in oil and gas properties	(33,396)	(24,701)
Net cash used in investing activities	(33,396)	(24,701)
Cash flows used in financing activities:
Net payments for share based compensation	(390)	(476)
Deferred financing costs	(1)	(13)
Payment of preferred stock dividend	(1,284)	(1,284)
Proceeds from bank borrowings	30,000
Repayment of bank borrowings	(20,000)
Net cash provided by (used in) financing activities	8,325	(1,773)
Net decrease in cash and cash equivalents	(11,120)	(8,215)
Cash and cash equivalents, beginning of period	22,263	63,237
Cash and cash equivalents, end of period	11,143	55,022
Cash paid during the period for:
Interest	7,619	8,003
Income taxes	$ 15	$ 1