Quarterly report pursuant to Section 13 or 15(d)

10. Derivative Instruments (Details-Derivative Gains and Losses)

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10. Derivative Instruments (Details-Derivative Gains and Losses) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Realized gain on derivatives, net $ 1,043,026 $ 9,436,903
Loss on the mark-to-market of derivatives, net (4,288,736) (4,886,184)
Crude Oil Fixed Price Swap [Member]    
Realized gain on derivatives, net 922,872 8,579,756
Loss on the mark-to-market of derivatives, net (4,157,491) (4,366,810)
Crude Oil Collars [Member]    
Realized gain on derivatives, net 120,154 857,147
Loss on the mark-to-market of derivatives, net $ (131,245) $ (519,374)