Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 9,599	$ 22,263
Revenue receivable	12,476	15,860
Joint interest billing receivable	37,991	47,445
Hedge asset	4,814	6,418
Prepaid drilling costs	2,163	2,900
Drilling pipe inventory	2,259	4,070
Other current assets	3,399	2,965
Total current assets	72,701	101,921
Oil and gas properties:
Oil and gas properties, full cost method	1,666,929	1,600,546
Unevaluated oil and gas properties	76,709	70,408
Accumulated depreciation, depletion and amortization	(1,369,941)	(1,265,603)
Oil and gas properties, net	373,697	405,351
Gas gathering assets	4,177	4,177
Accumulated depreciation and amortization of gas gathering assets	(1,943)	(1,794)
Total property and equipment	375,931	407,734
Other assets, net of accumulated depreciation and amortization of $8,837 and $8,066, respectively	8,399	6,511
Total assets	457,031	516,166
Current liabilities:
Accounts payable to vendors	61,711	50,750
Advances from co-owners	22,526	33,867
Oil and gas revenue payable	12,412	13,764
Accrued interest and preferred stock dividend	6,166	6,167
Asset retirement obligation	1,034	3,110
Other accrued liabilities	4,898	8,250
Total current liabilities	108,747	115,908
Bank debt	17,500
10% Senior Notes	150,000	150,000
Asset retirement obligation	28,758	27,317
Hedge Liability	317
Deferred income taxes		551
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.001 par value; authorized 5,000 shares; issued and outstanding 1,495 shares	1	1
Common stock, $.001 par value; authorized 150,000 shares; issued and outstanding 62,380 and 62,148 shares, respectively	62	62
Paid-in capital	274,061	270,606
Accumulated other comprehensive income	3,023	4,031
Accumulated deficit	(125,438)	(52,310)
Total stockholders' equity	151,709	222,390
Total liabilities and stockholders' equity	$ 457,031	$ 516,166