Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities:
Net income (loss)	$ (70,558)	$ 1,419
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Deferred tax expense (benefit)	61	(329)
Depreciation, depletion and amortization	30,992	28,719
Ceiling test write-downs	73,596	18,907
Accretion of asset retirement obligation	1,017	1,179
Share based compensation expense	3,838	1,917
Amortization costs and other	395	308
Non-cash derivative expense	375
Payments to settle asset retirement obligations	(2,450)	(513)
Changes in working capital accounts:
Revenue receivable	3,384	3,719
Prepaid drilling and pipe costs	2,548	5,507
Joint interest billing receivable	8,962	(13,976)
Accounts payable and accrued liabilities	4,602	(3,358)
Advances from co-owners	(11,341)	18,235
Other	(3,153)	(1,843)
Net cash provided by operating activities	42,268	59,891
Cash flows used in investing activities:
Investment in oil and gas properties	(75,825)	(69,006)
Sale of oil and gas properties	275
Sale of unevaluated oil and gas properties	6,083
Net cash used in investing activities	(69,467)	(69,006)
Cash flows used in financing activities:
Net payments for share based compensation	(383)	(896)
Deferred financing costs	(12)	(16)
Payment of preferred stock dividend	(2,570)	(2,569)
Proceeds from bank borrowings	45,000
Repayment of bank borrowings	(27,500)
Net cash provided by (used in) financing activities	14,535	(3,481)
Net decrease in cash and cash equivalents	(12,664)	(12,596)
Cash and cash equivalents, beginning of period	22,263	63,237
Cash and cash equivalents, end of period	9,599	50,641
Cash paid during the period for:
Interest	7,871	8,291
Income taxes	$ 15	$ 1