Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

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STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
REVENUES        
Oil and Gas Sales $ 107,232,064 $ 80,690,301 $ 270,026,894 $ 216,268,712
(Loss) Gain on Settled Derivatives (8,096,075) 1,701,296 (8,966,175) (4,729,186)
Unrealized Gain (Loss) on Derivative Instruments (29,353,161) (22,308,470) (27,254,147) 18,125,928
Other Revenue 1,372 12,486 37,514 160,752
Total Revenues 69,784,200 60,095,613 233,844,086 229,826,206
OPERATING EXPENSES        
Production Expenses 11,471,867 8,734,636 30,510,248 22,540,237
Production Taxes 9,931,345 8,092,843 25,303,805 20,829,732
General and Administrative Expense 4,164,335 9,467,711 12,068,439 18,568,696
Depletion, Depreciation, Amortization and Accretion 32,103,607 28,081,124 85,455,425 72,147,282
Total Expenses 57,671,154 54,376,314 153,337,917 134,085,947
INCOME FROM OPERATIONS 12,113,046 5,719,299 80,506,169 95,740,259
OTHER INCOME (EXPENSE)        
Interest Expense, Net of Capitalization (9,212,834) (5,205,822) (23,140,425) (8,130,225)
Other (Expense) Income (169,308) 106 (437,032) 1,206
Total Other Income (Expense) (9,382,142) (5,205,716) (23,577,457) (8,129,019)
INCOME BEFORE INCOME TAXES 2,730,904 513,583 56,928,712 87,611,240
INCOME TAX PROVISION 1,028,000 213,422 21,262,614 34,878,772
NET INCOME 1,702,904 300,161 35,666,098 52,732,468
OTHER COMPREHENSIVE INCOME NET OF TAX        
Reclassification of Derivative Instruments Included in Income (Net of Tax of $39,000 for the Nine Months ended September 30,2012,) 0 0 0 62,309
Total Other Comprehensive Income (Loss) 0 0 0 62,309
COMPREHENSIVE INCOME $ 1,702,904 $ 300,161 $ 35,666,098 $ 52,794,777
Net Income Per Common Share - Basic (in dollars per share) $ 0.03 $ 0 $ 0.57 $ 0.84
Net Income Per Common Share - Diluted (in dollars per share) $ 0.03 $ 0 $ 0.56 $ 0.84
Weighted Average Shares Outstanding - Basic (in shares) 62,426,341 62,589,256 62,750,952 62,410,110
Weighted Average Shares Outstanding - Diluted (in shares) 62,758,378 62,882,673 63,142,238 62,753,241