Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF CASH FLOWS (UNAUDITED)

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STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Income $ 60,162,624 $ 35,666,098
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depletion, Depreciation, Amortization and Accretion 123,959,402 85,455,425
Amortization of Debt Issuance Costs 2,053,879 1,867,482
Amortization of 8% Senior Notes Premium (1,115,044) (588,496)
Deferred Income Taxes 36,400,000 21,258,000
(Gain) Loss on the Mark-to-Market of Derivative Instruments (25,433,684) 27,254,147
Amortization of Deferred Rent (10,990) (15,876)
Share - Based Compensation Expense 2,022,243 3,547,493
Changes in Working Capital and Other Items:    
Trade Receivables (1,758,497) (21,981,344)
Prepaid Expenses and Other (1,021,830) 116,003
Accounts Payable 2,805,152 6,026,364
Accrued Interest 9,016,690 9,274,841
Accrued Expenses 2,290,764 1,039,076
Net Cash Provided By Operating Activities 209,370,709 168,919,213
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of Oil and Gas Properties and Development Capital Expenditures (345,269,233) (269,390,319)
Proceeds from Sale, Net of Oil and Natural Gas Properties 0 908,000
Purchases of Other Property and Equipment (80,279) (255,603)
Net Cash Used For Investing Activities (345,349,512) (268,737,922)
CASH FLOWS FROM FINANCING ACTIVITIES    
Advances on Revolving Credit Facility 163,000,000 103,000,000
Repayments on Revolving Credit Facility (10,000,000) (182,000,000)
Issuance of Senior Unsecured Notes 0 210,500,000
Debt Issuance Costs Paid (434,936) (7,023,254)
Repurchase of Common Stock (14,224,260) (26,177,437)
Net Cash Provided by Financing Activities 138,340,804 98,299,309
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 2,362,001 (1,519,400)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 5,687,166 13,387,998
CASH AND CASH EQUIVALENTS - END OF PERIOD 8,049,167 11,868,598
Supplemental Disclosure of Cash Flow Information    
Cash Paid During the Period for Interest 23,201,544 15,196,809
Cash Paid During the Period for Income Taxes 0 13,614
Non-Cash Financing and Investing Activities:    
Oil and Natural Gas Properties Included in Accounts Payable 211,194,448 136,396,330
Capitalized Asset Retirement Obligations 739,591 476,549
Non-Cash Compensation Capitalized on Oil and Gas Properties $ 521,640 $ 1,643,683