Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS (UNAUDITED)

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BALANCE SHEETS (UNAUDITED) (USD $)
Sep. 30, 2013
Dec. 31, 2012
CURRENT ASSETS    
Cash and Cash Equivalents $ 11,868,598 $ 13,387,998
Trade Receivables 92,201,013 70,219,669
Advances to Operators 1,666,129 3,109,591
Prepaid Expenses and Other 2,160,026 1,707,089
Derivative Instruments 22,692 4,095,197
Deferred Tax Asset 10,896,000 1,695,000
Total Current Assets 118,814,458 94,214,544
Oil and Natural Gas Properties, Full Cost Method of Accounting    
Proved 1,476,511,245 1,159,191,601
Unproved 85,059,046 82,926,384
Other Property and Equipment 1,567,652 3,158,224
Total Property and Equipment 1,563,137,943 1,245,276,209
Less - Accumulated Depreciation and Depletion (247,019,968) (162,031,493)
Total Property and Equipment, Net 1,316,117,975 1,083,244,716
DERIVATIVE INSTRUMENTS 934,545 1,763,008
DEBT ISSUANCE COSTS NET 16,868,802 11,713,030
TOTAL ASSETS 1,452,735,780 1,190,935,298
CURRENT LIABILITIES    
Accounts Payable 146,468,743 95,822,162
Accrued Expenses 3,493,161 2,454,085
Accrued Interest 13,333,333 2,180,416
Derivative Instruments 21,841,508 0
Total Current Liabilities 185,136,745 100,456,663
LONG-TERM LIABILITIES    
Revolving Credit Facility 45,000,000 124,000,000
8% Senior Notes, net of accumulated amortization of bond premium of $588,496 at September 30, 2013 and $0 at December 31, 2012 509,911,504 300,000,000
Derivative Instruments 3,059,416 2,547,745
Other Noncurrent Liabilities 2,129,018 1,570,630
Deferred Tax Liability 106,634,000 76,175,000
Total Long-Term Liabilities 666,733,938 504,293,375
TOTAL LIABILITIES 851,870,683 604,750,038
COMMITMENTS AND CONTINGENCIES (NOTE 8)      
STOCKHOLDERS' EQUITY    
Preferred Stock, Par Value $.001; 5,000,000 Authorized, No Shares Outstanding 0 0
Common Stock, Par Value $.001; 95,000,000 Authorized, (9/30/2013 - 61,796,675 Shares Outstanding and 12/31/2012 - 63,532,622 Shares Outstanding) 61,797 63,532
Additional Paid-In Capital 444,481,894 465,466,420
Retained Earnings 156,321,406 120,655,308
Total Stockholders' Equity 600,865,097 586,185,260
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,452,735,780 $ 1,190,935,298