TransCoastal 10-Q/A 17 Jun 14 2014 Q1 Quarterly report (amended) Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	12-May-14
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'TransCoastal Corp	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	22,723,148
Amendment Flag	'true	'
Amendment Description	'TBD	'
Entity Central Index Key	'0001046057	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current assets	'	'
Cash and cash equivalents	$194,000	$432,000
Accounts receivable	382,000	436,000
Other current assets	20,000	20,000
Total current assets	596,000	888,000
Oil and natural gas properties and other property and equipment	'	'
Oil and natural gas properties, full cost method, net of accumulated depletion	23,596,000	23,600,000
Other property and equipment, net of accumulated depreciation	436,000	470,000
Total oil and natural gas properties and other equipment, net	24,032,000	24,070,000
Other assets	'	'
Goodwill	485,000	485,000
Other non-current assets	385,000	387,000
Total other assets	870,000	872,000
Total assets	25,498,000	25,830,000
Current liabilities	'	'
Accounts payable and accrued liabilities	1,453,000	1,620,000
Current asset retirement obligations	113,000	107,000
Current derivative liabilities	167,000	125,000
Current maturities of notes payable	16,838,000	17,512,000
Total current liabilities	18,571,000	19,364,000
Long-term liabilities	'	'
Notes payable	52,000	56,000
Stock to be issued	2,091,000	2,496,000
Asset retirement obligations	854,000	852,000
Derivative liabilities	14,000	18,000
Total long-term liabilities	3,011,000	3,422,000
Commitments and contingencies	'	'
Shareholders' equity	'	'
Preferred stock	'	'
Common stock, $.001 par value; 250,000,000 shares authorized; 22,723,148 and 22,453,773, respectively, shares issued and outstanding	23,000	23,000
Additional paid-in-capital	46,570,000	45,592,000
Accumulated deficit	-42,678,000	-42,572,000
Total shareholders' equity	3,916,000	3,044,000
Total liabilities and shareholders' equity	25,498,000	25,830,000
Series G Preferred Stock [Member]	'	'
Shareholders' equity	'	'
Preferred stock	$1,000	$1,000

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Preferred stock, par value (in Dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	25,000,000	25,000,000
Common stock, par value (in Dollars per share)	$0.00	$0.00
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	22,723,148	22,453,773
Common stock, shares outstanding	22,723,148	22,453,773
Series A Preferred Stock [Member]	'	'
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Series F Preferred Stock [Member]	'	'
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Series G Preferred Stock [Member]	'	'
Preferred Stock, shares issued	1,247,250	687,250
Preferred Stock, shares outstanding	1,247,250	687,250

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues	'	'
Oil, natural gas, and related product sales	$1,109,000	$786,000
Derivative income (loss)	-93,000	11,000
Other revenue	15,000	55,000
Total revenues	1,031,000	852,000
Expenses	'	'
Lease operating	247,000	287,000
Depreciation, depletion and amortization	162,000	176,000
Accretion of discount on asset retirement obligations	8,000	11,000
General and administrative	523,000	619,000
Total expenses	940,000	1,093,000
Operating income (loss)	91,000	-241,000
Other income (expense)	'	'
Interest expense	-197,000	-141,000
Other income	'	15,000
Total other expense	-197,000	-126,000
Net loss	($106,000)	($367,000)
Basic and diluted earnings per share:	'	'
Net loss per basic and diluted common share (in Dollars per share)	$0	($0.02)
Weighted average basic and diluted common shares outstanding (in Shares)	22,723,148	22,634,091

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Stockholders’ Equity (USD $)

Common Stock [Member]

Common Stock [Member]

Preferred Stock [Member]

Series F Preferred Stock To Be Issued [Member]

Additional Paid-in Capital [Member]

Additional Paid-in Capital [Member]

Additional Paid-in Capital [Member]

Additional Paid-in Capital [Member]

Retained Earnings [Member]

Warrant [Member]

Series G Preferred Stock [Member]

Constructive Dividends on Series G Preferred Stock [Member]

Total

Warrant [Member]

USD ($)

Series G Preferred Stock [Member]

Series G Preferred Stock [Member]

Warrant [Member]

Series G Preferred Stock [Member]

Constructive Dividends on Series G Preferred Stock [Member]

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

USD ($)

Balances at Dec. 31, 2013

'

$23,000

$1,000

'

'

'

'

$45,592,000

($42,572,000)

'

'

'

$3,044,000

Balances (in Shares) at Dec. 31, 2013

'

22,453,773

'

687,250

'

'

'

'

'

'

'

'

22,453,773

Issuance of common stock

'

'

'

'

397,000

'

'

8,000

'

397,000

'

'

8,000

Issuance of common stock (in Shares)

251,875

5,000

'

'

'

'

'

'

'

251,875

'

'

'

Issuance of Series G preferred stock including beneficial conversion feature

'

'

'

'

'

1,195,000

'

'

'

'

1,195,000

'

'

Issuance of Series G preferred stock including beneficial conversion feature (in Shares)

'

256,875

'

560,000

'

'

'

'

'

'

560,000

'

'

Constructive dividends on Series G preferred stock

'

'

'

'

'

'

-635,000

'

'

'

'

-635,000

'

Stock based compensation

'

'

'

'

'

'

'

13,000

'

'

'

'

13,000

Stock based compensation (in Shares)

'

12,500

'

'

'

'

'

'

'

'

'

'

12,500

Net loss

'

'

'

'

'

'

'

'

-106,000

'

'

'

-106,000

Balances at Mar. 31, 2014

'

$23,000

$1,000

'

'

'

'

$46,570,000

($42,678,000)

'

'

'

$3,916,000

Balances (in Shares) at Mar. 31, 2014

'

22,723,148

'

1,247,250

'

'

'

'

'

'

'

'

22,723,148

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities	'	'
Net loss	($106,000)	($367,000)
Adjustments to reconcile net loss to net cash and cash equivalents provided by (used in) operating activities:	'	'
Depreciation, depletion and amortization	162,000	176,000
Stock based compensation	13,000	'
Accretion of discount on asset retirement obligations	8,000	11,000
Unrealized loss on derivative assets and liabilities	38,000	1,000
Increase (decrease) in cash and cash equivalents attributable to changes in operating assets and liabilities	'	'
Accounts receivable	54,000	-145,000
Other current assets	'	-17,000
Other non-current assets	2,000	5,000
Accounts payable and accrued liabilities	-167,000	-148,000
Net cash and cash equivalents provided by (used in) operating activities	4,000	-484,000
Cash flows used in investing activity	'	'
Development of oil and natural gas properties	-124,000	-711,000
Cash flows from financing activities	'	'
Borrowings under notes payable	'	1,250,000
Repayments of notes payable	-678,000	-150,000
Issuance of preferred stock, net of constructive dividend	560,000	188,000
Net cash and cash equivalents provided by (used in) financing activities	-118,000	1,288,000
Net increase (decrease) in cash and cash equivalents	-238,000	93,000
Cash and cash equivalents, beginning of period	432,000	133,000
Cash and cash equivalents, end of period	194,000	226,000
Supplemental disclosure of cash flow information	'	'
Cash paid for interest	197,000	141,000
Supplemental disclosure of non-cash investing and financing transactions	'	'
Issuance of common stock with warrants in settlement of liability	397,000	'
Issurance of common stock in settlement of liability	8,000	'
Forgiveness of notes payable, related party	'	$125,000

Note_1_Restatement_of_Previous

Note 1 - Restatement of Previously Issued Financial Statements	3 Months Ended
	Mar. 31, 2014
Accounting Changes and Error Corrections [Abstract]	'
Accounting Changes and Error Corrections [Text Block]	'
	1. Restatement of previously issued financial statements
	Prior to June 2014, the Company received communication from the majority participant of its lending group that the financial covenant failures at March 31, 2014 and December 31, 2013 were going to be waived by its lending group. However, in June 2014, the Company was advised that certain non-majority participants in the Company's note payable did not waive their right to call the Company's note payable due to the financial covenant failures as of March 31, 2014 and December 31, 2013. Accordingly, the note payable balance has been reclassified as a current liability as of March 31, 2014 and December 31, 2013. The reclassification is a non-cash adjustment and will have no impact on the Company’s cash flows. On June 9, 2014 the Company completed its assessment of the impact of the reclassification of the current maturities of long-term debt as of March 31, 2014 and December 31, 2013 and believes the effects of the restatement are as summarized in the following tables:
	Consolidated Balance Sheet as of December 31, 2013
		Previously		Adjustment			As Restated
		Reported
	Current Maturities of Notes Payable	$	387	$	17,125		$	17,512
	Total Current Liabilities	$	2,239	$	17,125		$	19,364
	Notes Payable	$	17,181	$	(17,125	)	$	56
	Total Long-Term Liabilities	$	20,547	$	(17,125	)	$	3,422
	Consolidated Balance Sheet as of March 31, 2014
		Previously		Adjustment			As Restated
		Reported
	Current Maturities of Notes Payable	$	13	$	16,825		$	16,838
	Total Current Liabilities	$	1,746	$	16,825		$	18,571
	Notes Payable	$	16,877	$	(16,825	)	$	52
	Total Long-Term Liabilities	$	19,836	$	(16,825	)	$	3,011

Note_2_Basis_of_Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Business Description and Basis of Presentation [Text Block]	'
	2. Basis of presentation
	In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all necessary adjustments (consisting of normal recurring adjustments) and present fairly the condensed consolidated financial position of TransCoastal Corporation and Subsidiary (the "Company" or “TransCoastal”) as of March 31, 2014 and December 31, 2013 and the results of their operations for the three months ended March 31, 2014 and 2013 in conformity with generally accepted accounting principles for interim financial information applied on a consistent basis. The results of operations for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been omitted. These condensed consolidated financial statements should be read in conjunction with the audited condensed consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K/A, as filed with the Securities and Exchange Commission on May 9, 2014. Certain reclassifications have been made to the condensed consolidated financial statements for prior periods in order to conform to the current period presentation.
	Recently adopted accounting pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board or other standard setting bodies that may have an impact on the Company’s accounting and reporting. The Company believes that such recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented.

Note_3_Going_Concern_Considera

Note 3 - Going Concern Consideration	3 Months Ended
	Mar. 31, 2014
Going Concern [Abstract]	'
Going Concern [Text Block]	'
	3.  Going concern consideration
	The consolidated financial statements have been prepared assuming the Company will continue as a going concern. As of March 31, 2014 and December 31, 2013, the Company had a working capital deficit of approximately $17,975,000 and $18,476,000, respectively, and an accumulated deficit of approximately $42,678,000 and $42,572,000, respectively. For the quarter ended March 31, 2014, the Company had a net loss of approximately $106,000. The working capital deficit at March 31, 2014 and December 31, 2013 is primarily the result of increased aged accounts payable and accrued liabilities due to a reduction in available cash to pay third party vendors and the Company's long term debt being current. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. During the year ended December 31, 2013, the Company entered into an investment agreement (“the Investment Agreement”) with a third party which allows the Company to put common shares to the third party for an aggregate purchase price up to $5,000,000.
	If the Company wishes to act upon this agreement the Company will need to register the necessary shares specified in the agreement within a registration statement with the SEC. As of March 31, 2014, and through the date of this report, the Company has not decided to act upon this agreement, if the company chose to act upon the agreement it would require an S-1 Registration Statement to be filed and deemed effective by the SEC. If the Company is unable to obtain this additional equity financing, it may require the Company to liquidate a portion of its oil and natural gas properties to meet its liquidity needs, which could affect the Company’s long-term strategic plan and require the Company to liquidate certain oil and natural gas properties at an amount less than would normally be achieved if sold in the ordinary course of business. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Note_4_Summary_of_Significant_

Note 4 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	4. Summary of significant accounting policies
	Fair Value Measurements
	The Company has adopted and follows ASC 820, Fair Value Measurements and Disclosures, for measurement and disclosures about fair value of its financial instruments. ASC 820 establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, ASC 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by ASC 820 are:
	Level 1 — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
	Level 2 — Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.
	Level 3 — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
	As defined by ASC 820, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale, which was further clarified as the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in an orderly transaction between market participants at the measurement date. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, oil and natural gas sales receivable, and accounts payable and accrued liabilities, approximate their fair values because of the short maturity of these instruments.
	Cash and Cash Equivalents
	The Company considers all highly-liquid debt instruments with original maturities of three months or less to be cash equivalents.
	The Company maintains its cash balances in financial institutions which are insured by the Federal Deposit Insurance Corporation (“FDIC”). All accounts maintain FDIC coverage of up to $250,000 per institution. As of March 31, 2014 and December 31, 2013, the Company had $0 and $44,000, respectively, of cash and cash equivalents in excess of its FDIC coverage.
	Accounts Receivable
	Accounts receivable is comprised of billings for services as the operator on certain wells, that TransCoastal has no working interest in, and accrued natural gas and crude oil sales. The Company performs ongoing credit evaluations of its customers’ and extends credit to virtually all of its customers. Credit losses to date have not been significant and have been within management’s expectations. In the event of complete non-performance by the Company’s customers, the maximum exposure to the Company is the outstanding accounts receivable, net balance at the date of non-performance. The amounts billed to third parties for services as the operator have rights of offset against revenues generated from the sale of oil and gas commodities. For the three months ended March 31, 2014 and 2013, the Company had no bad debt expense.
	Derivative Activities
	The Company utilized oil and natural gas derivative contracts to mitigate it’s exposure to commodity price risk associated with its future oil and natural gas production. These derivative contracts have historically consisted of options, in the form of price floors or collars. The Company’s derivative financial instruments are recorded on the consolidated balance sheets as either an asset or a liability measured at fair value. The Company does not apply hedge accounting to its oil and natural gas derivative contracts and accordingly the changes in the fair value of these instruments are recognized in the consolidated statements of operations in the period of change.
	The Company’s derivative instruments are issued to manage the price risk attributable to our expected natural gas and oil production. While there is risk that the financial benefit of rising natural gas and oil prices may not be captured, Company management believes the benefits of stable and predictable cash flow are more important. Among these benefits are more efficient utilization of existing personnel and planning for future staff additions, the flexibility to enter into long-term projects requiring substantial committed capital, smoother and more efficient execution of our ongoing development drilling and production enhancement programs, more consistent returns on invested capital and better access to bank and other capital markets. Every unsettled derivative instrument is recorded on the accompanying consolidated balance sheets as either an asset or a liability measured at its fair value. Changes in a derivative’s fair value are recognized in earnings unless specific hedge accounting criteria are met. Cash flows from natural gas and oil derivative contract settlements are reflected in operating activities in the accompanying consolidated statements of cash flows.
	Realized and unrealized gains and losses on derivatives are accounted for using the mark-to-market accounting method. We recognize all unrealized and realized gains and losses related to these contracts in each period in derivative gains or (losses) in the accompanying condensed consolidated statements of operations.
	Oil and Gas Natural Gas Properties
	The Company uses the full-cost method of accounting for its oil and natural gas producing activities as further defined under ASC 932, Extractive Activities -Oil and natural gas. Under these provisions, all costs incurred for both successful and unsuccessful exploration and development activities, including salaries, benefits and other internal costs directly identified with these activities, and oil and natural gas property acquisitions are capitalized. All costs related to production, general corporate overhead or similar activities are expensed as incurred.
	Proved properties are amortized using the units of production method (“UOP”). The UOP calculation, in its simplest terms, multiplies the percentage of estimated proved reserves produced at year end by the cost of those reserves.
	The amortization base in the UOP calculation includes the sum of proved property, net of accumulated depreciation, depletion and amortization (“DD&A”), estimated future development costs (future costs to access and develop reserves) and asset retirement costs that are not already included in oil and natural gas property, less related salvage value.
	The cost of unproved properties and properties under development are excluded from the amortization calculation until it is determined whether or not proved reserves can be assigned to such properties or until development projects are placed in service. Geological and geophysical costs not associated with specific properties are recorded to proved properties. Unproved properties and properties under development are reviewed for impairment at least quarterly. In countries where proved reserves exist, exploratory drilling costs associated with dry holes are transferred to proved properties immediately upon determination that a well is dry and amortized accordingly. As of March 31, 2014 and December 31, 2013, no unproved properties or properties under development were included in the oil and natural gas properties of the accompanying condensed consolidated financial statements.
	Proceeds from the sale or disposition of oil and natural gas properties are accounted for as a reduction to capitalized costs unless a significant portion (greater than 25 percent) of the Company’s reserve quantities in a particular country are sold, in which case a gain or loss is recognized in income. For the three months ended March 31, 2014 and 2013 no gain or loss from the sale or disposition of oil and natural gas properties occurred.
	Under the full-cost method of accounting, the net book value of oil and natural gas properties, less related deferred income taxes, may not exceed a calculated “ceiling.” The ceiling limitation is the estimated after-tax future net cash flows from proved oil and natural gas reserves, discounted at 10 percent per annum based on industry standards and adjusted for cash flow hedges. Estimated future net cash flows exclude future cash outflows associated with settling accrued asset retirement obligations. Any excess of the net book value of proved oil and gas properties, less related deferred income taxes, over the ceiling is charged to expense and reflected as additional DD&A in the accompanying condensed consolidated statements of operations. For the three months ended March 31, 2014 and 2013 no impairment charge occurred.
	During the three months ended March 31, 2014 and 2013, the Company determined approximately $0 and $8,000 of interest costs were incurred during the development period of our wells.
	Other Property and Equipment
	Other property and equipment, which includes buildings, field equipment, vehicles, and office equipment, is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Vehicles and office equipment are generally depreciated over a useful life of five or six years, field equipment is generally depreciated over a useful life of ten years and buildings are generally depreciated over a useful life of twenty years.
	Impairment of Long-Lived Assets
	The Company assesses the impairment of long-lived assets when circumstances indicate that the carrying value may not be recoverable. The Company determines if impairment has occurred through adverse changes. When it is determined that the estimated future net cash flows of an asset will not be sufficient to recover its carrying amount, an impairment loss must be recorded to reduce the carrying amount to its estimated fair value. For the three months ended March 31, 2014, and 2013 no circumstances indicated an unrecoverable carrying value of the long-lived assets.
	Goodwill
	Goodwill was generated as part of the CTO (CoreTerra Operating LLC) acquisition during the year ended December 31, 2011 and represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition. Goodwill is not amortized; rather, it is tested for impairment annually and when events or changes in circumstances indicate that fair value of a reporting unit with goodwill has been reduced below carrying value. To assess impairment, the Company has the option to qualitatively assess if it is more likely than not that the fair value of the reporting unit is less than the book value. Absent a qualitative assessment, or, through the qualitative assessment, if the Company determines it is more likely than not that the fair value of the reporting unit is less than the book value, a quantitative assessment is prepared to calculate the fair market value of the reporting unit. If it is determined that the fair value of the reporting unit is less than the book value, the recorded goodwill is impaired to its implied fair value with a charge to operating expenses. For the three and nine months ended March 31, 2014, and 2013 no impairment charge occurred.
	Asset Retirement Obligations
	The Company follows the provisions of ASC 410-20, Asset Retirement Obligations. ASC 410-20 requires entities to record the fair value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. When the liability is initially recorded, the entity capitalizes a cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depleted as part of the oil and natural gas property. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement. The Company’s asset retirement obligations relate to the plugging, dismantlement, removal, site reclamation and similar activities of its oil and natural gas properties.
	Asset retirement obligations are estimated at the present value of expected future net cash flows and are discounted using the Company’s credit adjusted risk free rate. The Company uses unobservable inputs in the estimation of asset retirement obligations that include, but are not limited to, costs of labor, costs of materials, profits on costs of labor and materials, the effect of inflation on estimated costs, and the discount rate. Accordingly, asset retirement obligations are considered a Level 3 measurement under ASC 820. Additionally, because of the subjectivity of assumptions and the relatively long lives of the Company’s wells, the costs to ultimately retire the Company’s wells may vary significantly from prior estimates.
	Revenue Recognition and Natural Gas Imbalances
	The Company utilizes the accrual method of accounting for natural gas and crude oil revenues, whereby revenues are recognized based on the Company’s net revenue interest in the wells. The Company will also enter into physical contract sale agreements through its normal operations. These contracts are not considered derivative contracts by the Company in accordance with the normal purchases and normal sales provision of ASC 815-10-15.
	Gas imbalances are accounted for using the sales method. Under this method, revenues are recognized based on actual volumes of oil and gas sold to purchasers. However, the Company has no history of significant gas imbalances.
	Net Income (Loss) Per Common Share
	Basic net income (loss) per common share is computed by dividing the net income (loss) attributable to shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated in the same manner, but also considers the impact to net income (loss) and common shares for the potential dilution from convertible preferred stock and warrants. For the quarter ended March 31, 2014, there were 2,494,500 potentially dilutive shares considered in the diluted weighted average common shares. For the year ended December 31, 2013, there were 1,374,500 potentially dilutive shares considered in the diluted weighted average common shares.
	Stock-Based Compensation
	The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation. The standard requires the measurement and recognition of compensation expense in the Company’s consolidated statements of operations for all share-based payment awards made to the Company’s employees, directors and consultants including employee stock options, non-vested equity stock and equity stock units, and employee stock purchase grants. Stock-based compensation expense is measured at the grant date, based on the estimated fair value of the award, reduced by an estimate of the annualized rate of expected forfeitures, and is recognized as an expense over the employees’ expected requisite service period, generally using the straight-line method. In addition, ASC 718 requires the benefits of tax deductions in excess of recognized compensation expense to be reported as a financing cash flow, rather than as an operating cash flow as prescribed under previous accounting rules.
	The Company’s forfeiture rate represents the historical rate at which the Company’s stock-based awards were surrendered prior to vesting. ASC 718 requires forfeitures to be estimated at the time of grant and revised on a cumulative basis, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
	During the quarter ended March 31, 2014 and 2013, the Company incurred a stock based compensation expense of approximately $13,000 and $0, respectively, related to stock grant issuances and is included in the accompanying consolidated statement of operations in general and administrative expenses.

Note_5_Oil_and_Natural_Gas_Pro

Note 5 - Oil and Natural Gas Properties	3 Months Ended
	Mar. 31, 2014
Oil and Gas Property [Abstract]	'
Oil and Gas Properties [Text Block]	'
	5. Oil and natural gas properties
	The Company has invested in proved properties:
	(in thousands)	Acquisition and		Accumulated			Total
		Development Costs		Depletion
	Balance at December 31, 2013	$	25,930	$	(2,330	)	$	23,600
	Activity from January 1, 2014 through March 31, 2014		124		(128	)		(4	)
		$	26,054	$	(2,458	)	$	23,596

Note_6_Shareholders_Equity

Note 6 - Shareholders' Equity	3 Months Ended
	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	6. Shareholder’s equity
	During the quarter ended March 31, 2014 the Company issued 256,875 shares of their common stock as settlement of stock to be issued. 251,875 of the common shares were issued with 52,125 warrants that will allow the holder(s), for a period of two years from the date of issue, to acquire one additional share of the Company’s common stock for each warrant at a purchase price of $3.75 per share.
	During the quarter ended March 31, 2014, the Company issued 12,500 shares of their common stock as stock based compensation.
	During the quarter ended March 31, 2014, the Company issued 560,000 shares of Series G convertible preferred stock at 8%, payable annually, for $560,000. The preferred stock may be converted any time after the first year at the request of the shareholder or the Company into two (2) shares of common stock of the Company and two (2) warrants that will allow the holder, for a period of two years from the date of issue, to acquire one additional share of the Company’s common stock for each warrant at a purchase price of $3.75 per share. The Series G preferred stock issued in 2014 resulted in a beneficial conversion feature at the date of issuance. As a result, a constructive dividend on the Series G preferred stock of approximately $635,000 is reflected in the accompanying condensed consolidated statements of changes in shareholders’ equity.

Note_7_Notes_Payable

Note 7 - Notes Payable	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	7. Notes payable
	On May 19, 2011, as amended from time to time through February 12, 2014, the Company entered into a loan agreement (the “Agreement”) with Green Bank with an initial borrowing base of $15,000,000 and amended to $16,950,000 on February 12, 2014. The Agreement bears interest at the prime rate minus 0.5%, but not less than 4.5%. Interest payments are due monthly with all principal and any unpaid interest being due on June 1, 2015. The interest rate was 4.5% at December 31, 2013 and 2012. Additionally, in accordance with the Agreement, for the period from March 1, 2012 through September 30, 2012, monthly borrowing base reductions of $125 occurred automatically on the first day of each month. Effective October 1, 2012, the monthly borrowing base reduction increased to $150 through January 15, 2013. The monthly borrowing base reductions were amended to $0 on February 11, 2013. On February 12, 2014, the monthly borrowing base reductions were amended to $125 payable on the first of each month for the period of March 1, 2014 through May 1, 2014.
	The Agreement is collateralized by essentially all of the oil and natural gas related assets of the Company, contains personal guarantees from the principal officers, and requires compliance with certain financials covenants including, among others: (1) a requirement to maintain a current ratio of not less than 1.0 to 1.0; (2) a maximum permitted ratio of total liabilities to tangible net worth of not more than 2.0 to 1.0; and (3) a requirement to maintain a ratio of EBITDAX, as defined by the Agreement, to interest expense of not less than (a) 3.00 to 1.00 for all fiscal quarters prior to December 31, 2011, (b) 3.25 to 1.00 for the fiscal quarter ending March 31, 2012, and (c) 3.50 to 1.00 for all fiscal quarters ending on or after June 30, 2012. As of March 31, 2014 and December 31, 2013, the Company was not in compliance with its current ratio. Accordingly, the balance as of March 31, 2014 and December 31, 2013 is classified as current.
	As of March 31, 2014 and December 31, 2013, the Company had an outstanding principal balance due to Green Bank of approximately $16,825,000 and $17,500,000, respectively. As of March 31, 2014 and December 31, 2013, the current maturities of the outstanding principal balance were approximately $0 and $375,000, respectively.
	Additionally, on October 21, 2013, the Company entered into a vehicle loan agreement (“Car Note”) with Western Equipment Finance, Inc. for a total borrowing base of $74. The Car Note bears interest at an approximate rate of 9%. Interest and principal payments are due monthly with any unpaid principal and interest due on August 18, 2018. As of March 31, 2014 and December 31, 2013, the Company had an outstanding principal balanced due to Western Equipment Finance, Inc. of approximately $64,000 and $68,000, respectively. As of March 31, 2014 and December 31, 2013, the current maturities of the outstanding principal balance were approximately $13,000.

Note_8_Related_Party_Transacti

Note 8 - Related Party Transactions	3 Months Ended
	Mar. 31, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	8. Related party transactions
	There have been no related party transactions for the three months ended March 31, 2014 and 2013.

Note_9_Subsequent_Events

Note 9 - Subsequent Events	3 Months Ended
	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	9. Subsequent Events
	On May 12, 2014, the Company completed a sale of its Shelby County oil and natural gas properties for a total cash consideration of $508,000. This sale represents a disposition of all of the Company’s “Savell” properties that comprised 100% of the Company’s Shelby County assets.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Fair Value Measurement, Policy [Policy Text Block]	'
	Fair Value Measurements
	The Company has adopted and follows ASC 820, Fair Value Measurements and Disclosures, for measurement and disclosures about fair value of its financial instruments. ASC 820 establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, ASC 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by ASC 820 are:
	Level 1 — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
	Level 2 — Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.
	Level 3 — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
	As defined by ASC 820, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale, which was further clarified as the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in an orderly transaction between market participants at the measurement date. The carrying amounts of the Company’s financial assets and liabilities, such as cash and cash equivalents, oil and natural gas sales receivable, and accounts payable and accrued liabilities, approximate their fair values because of the short maturity of these instruments.
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and Cash Equivalents
	The Company considers all highly-liquid debt instruments with original maturities of three months or less to be cash equivalents.
	The Company maintains its cash balances in financial institutions which are insured by the Federal Deposit Insurance Corporation (“FDIC”). All accounts maintain FDIC coverage of up to $250,000 per institution. As of March 31, 2014 and December 31, 2013, the Company had $0 and $44,000, respectively, of cash and cash equivalents in excess of its FDIC coverage.
Receivables, Policy [Policy Text Block]	'
	Accounts Receivable
	Accounts receivable is comprised of billings for services as the operator on certain wells, that TransCoastal has no working interest in, and accrued natural gas and crude oil sales. The Company performs ongoing credit evaluations of its customers’ and extends credit to virtually all of its customers. Credit losses to date have not been significant and have been within management’s expectations. In the event of complete non-performance by the Company’s customers, the maximum exposure to the Company is the outstanding accounts receivable, net balance at the date of non-performance. The amounts billed to third parties for services as the operator have rights of offset against revenues generated from the sale of oil and gas commodities. For the three months ended March 31, 2014 and 2013, the Company had no bad debt expense.
Derivatives, Policy [Policy Text Block]	'
	Derivative Activities
	The Company utilized oil and natural gas derivative contracts to mitigate it’s exposure to commodity price risk associated with its future oil and natural gas production. These derivative contracts have historically consisted of options, in the form of price floors or collars. The Company’s derivative financial instruments are recorded on the consolidated balance sheets as either an asset or a liability measured at fair value. The Company does not apply hedge accounting to its oil and natural gas derivative contracts and accordingly the changes in the fair value of these instruments are recognized in the consolidated statements of operations in the period of change.
	The Company’s derivative instruments are issued to manage the price risk attributable to our expected natural gas and oil production. While there is risk that the financial benefit of rising natural gas and oil prices may not be captured, Company management believes the benefits of stable and predictable cash flow are more important. Among these benefits are more efficient utilization of existing personnel and planning for future staff additions, the flexibility to enter into long-term projects requiring substantial committed capital, smoother and more efficient execution of our ongoing development drilling and production enhancement programs, more consistent returns on invested capital and better access to bank and other capital markets. Every unsettled derivative instrument is recorded on the accompanying consolidated balance sheets as either an asset or a liability measured at its fair value. Changes in a derivative’s fair value are recognized in earnings unless specific hedge accounting criteria are met. Cash flows from natural gas and oil derivative contract settlements are reflected in operating activities in the accompanying consolidated statements of cash flows.
	Realized and unrealized gains and losses on derivatives are accounted for using the mark-to-market accounting method. We recognize all unrealized and realized gains and losses related to these contracts in each period in derivative gains or (losses) in the accompanying condensed consolidated statements of operations.
Oil and Gas Properties Policy [Policy Text Block]	'
	Oil and Gas Natural Gas Properties
	The Company uses the full-cost method of accounting for its oil and natural gas producing activities as further defined under ASC 932, Extractive Activities -Oil and natural gas. Under these provisions, all costs incurred for both successful and unsuccessful exploration and development activities, including salaries, benefits and other internal costs directly identified with these activities, and oil and natural gas property acquisitions are capitalized. All costs related to production, general corporate overhead or similar activities are expensed as incurred.
	Proved properties are amortized using the units of production method (“UOP”). The UOP calculation, in its simplest terms, multiplies the percentage of estimated proved reserves produced at year end by the cost of those reserves.
	The amortization base in the UOP calculation includes the sum of proved property, net of accumulated depreciation, depletion and amortization (“DD&A”), estimated future development costs (future costs to access and develop reserves) and asset retirement costs that are not already included in oil and natural gas property, less related salvage value.
	The cost of unproved properties and properties under development are excluded from the amortization calculation until it is determined whether or not proved reserves can be assigned to such properties or until development projects are placed in service. Geological and geophysical costs not associated with specific properties are recorded to proved properties. Unproved properties and properties under development are reviewed for impairment at least quarterly. In countries where proved reserves exist, exploratory drilling costs associated with dry holes are transferred to proved properties immediately upon determination that a well is dry and amortized accordingly. As of March 31, 2014 and December 31, 2013, no unproved properties or properties under development were included in the oil and natural gas properties of the accompanying condensed consolidated financial statements.
	Proceeds from the sale or disposition of oil and natural gas properties are accounted for as a reduction to capitalized costs unless a significant portion (greater than 25 percent) of the Company’s reserve quantities in a particular country are sold, in which case a gain or loss is recognized in income. For the three months ended March 31, 2014 and 2013 no gain or loss from the sale or disposition of oil and natural gas properties occurred.
	Under the full-cost method of accounting, the net book value of oil and natural gas properties, less related deferred income taxes, may not exceed a calculated “ceiling.” The ceiling limitation is the estimated after-tax future net cash flows from proved oil and natural gas reserves, discounted at 10 percent per annum based on industry standards and adjusted for cash flow hedges. Estimated future net cash flows exclude future cash outflows associated with settling accrued asset retirement obligations. Any excess of the net book value of proved oil and gas properties, less related deferred income taxes, over the ceiling is charged to expense and reflected as additional DD&A in the accompanying condensed consolidated statements of operations. For the three months ended March 31, 2014 and 2013 no impairment charge occurred.
	During the three months ended March 31, 2014 and 2013, the Company determined approximately $0 and $8,000 of interest costs were incurred during the development period of our wells.
Property, Plant and Equipment, Policy [Policy Text Block]	'
	Other Property and Equipment
	Other property and equipment, which includes buildings, field equipment, vehicles, and office equipment, is stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Vehicles and office equipment are generally depreciated over a useful life of five or six years, field equipment is generally depreciated over a useful life of ten years and buildings are generally depreciated over a useful life of twenty years.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	'
	Impairment of Long-Lived Assets
	The Company assesses the impairment of long-lived assets when circumstances indicate that the carrying value may not be recoverable. The Company determines if impairment has occurred through adverse changes. When it is determined that the estimated future net cash flows of an asset will not be sufficient to recover its carrying amount, an impairment loss must be recorded to reduce the carrying amount to its estimated fair value. For the three months ended March 31, 2014, and 2013 no circumstances indicated an unrecoverable carrying value of the long-lived assets.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	'
	Goodwill
	Goodwill was generated as part of the CTO (CoreTerra Operating LLC) acquisition during the year ended December 31, 2011 and represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition. Goodwill is not amortized; rather, it is tested for impairment annually and when events or changes in circumstances indicate that fair value of a reporting unit with goodwill has been reduced below carrying value. To assess impairment, the Company has the option to qualitatively assess if it is more likely than not that the fair value of the reporting unit is less than the book value. Absent a qualitative assessment, or, through the qualitative assessment, if the Company determines it is more likely than not that the fair value of the reporting unit is less than the book value, a quantitative assessment is prepared to calculate the fair market value of the reporting unit. If it is determined that the fair value of the reporting unit is less than the book value, the recorded goodwill is impaired to its implied fair value with a charge to operating expenses. For the three and nine months ended March 31, 2014, and 2013 no impairment charge occurred.
Asset Retirement Obligations, Policy [Policy Text Block]	'
	Asset Retirement Obligations
	The Company follows the provisions of ASC 410-20, Asset Retirement Obligations. ASC 410-20 requires entities to record the fair value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. When the liability is initially recorded, the entity capitalizes a cost by increasing the carrying amount of the related long-lived asset. Over time, the liability is accreted to its present value each period, and the capitalized cost is depleted as part of the oil and natural gas property. Upon settlement of the liability, an entity either settles the obligation for its recorded amount or incurs a gain or loss upon settlement. The Company’s asset retirement obligations relate to the plugging, dismantlement, removal, site reclamation and similar activities of its oil and natural gas properties.
	Asset retirement obligations are estimated at the present value of expected future net cash flows and are discounted using the Company’s credit adjusted risk free rate. The Company uses unobservable inputs in the estimation of asset retirement obligations that include, but are not limited to, costs of labor, costs of materials, profits on costs of labor and materials, the effect of inflation on estimated costs, and the discount rate. Accordingly, asset retirement obligations are considered a Level 3 measurement under ASC 820. Additionally, because of the subjectivity of assumptions and the relatively long lives of the Company’s wells, the costs to ultimately retire the Company’s wells may vary significantly from prior estimates.
Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition and Natural Gas Imbalances
	The Company utilizes the accrual method of accounting for natural gas and crude oil revenues, whereby revenues are recognized based on the Company’s net revenue interest in the wells. The Company will also enter into physical contract sale agreements through its normal operations. These contracts are not considered derivative contracts by the Company in accordance with the normal purchases and normal sales provision of ASC 815-10-15.
	Gas imbalances are accounted for using the sales method. Under this method, revenues are recognized based on actual volumes of oil and gas sold to purchasers. However, the Company has no history of significant gas imbalances.
Earnings Per Share, Policy [Policy Text Block]	'
	Net Income (Loss) Per Common Share
	Basic net income (loss) per common share is computed by dividing the net income (loss) attributable to shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per common share is calculated in the same manner, but also considers the impact to net income (loss) and common shares for the potential dilution from convertible preferred stock and warrants. For the quarter ended March 31, 2014, there were 2,494,500 potentially dilutive shares considered in the diluted weighted average common shares. For the year ended December 31, 2013, there were 1,374,500 potentially dilutive shares considered in the diluted weighted average common shares.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Stock-Based Compensation
	The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation. The standard requires the measurement and recognition of compensation expense in the Company’s consolidated statements of operations for all share-based payment awards made to the Company’s employees, directors and consultants including employee stock options, non-vested equity stock and equity stock units, and employee stock purchase grants. Stock-based compensation expense is measured at the grant date, based on the estimated fair value of the award, reduced by an estimate of the annualized rate of expected forfeitures, and is recognized as an expense over the employees’ expected requisite service period, generally using the straight-line method. In addition, ASC 718 requires the benefits of tax deductions in excess of recognized compensation expense to be reported as a financing cash flow, rather than as an operating cash flow as prescribed under previous accounting rules.
	The Company’s forfeiture rate represents the historical rate at which the Company’s stock-based awards were surrendered prior to vesting. ASC 718 requires forfeitures to be estimated at the time of grant and revised on a cumulative basis, if necessary, in subsequent periods if actual forfeitures differ from those estimates.
	During the quarter ended March 31, 2014 and 2013, the Company incurred a stock based compensation expense of approximately $13,000 and $0, respectively, related to stock grant issuances and is included in the accompanying consolidated statement of operations in general and administrative expenses.

Note_1_Restatement_of_Previous1

Note 1 - Restatement of Previously Issued Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2014
Accounting Changes and Error Corrections [Abstract]	'
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	'
		Previously		Adjustment			As Restated
		Reported
	Current Maturities of Notes Payable	$	387	$	17,125		$	17,512
	Total Current Liabilities	$	2,239	$	17,125		$	19,364
	Notes Payable	$	17,181	$	(17,125	)	$	56
	Total Long-Term Liabilities	$	20,547	$	(17,125	)	$	3,422
		Previously		Adjustment			As Restated
		Reported
	Current Maturities of Notes Payable	$	13	$	16,825		$	16,838
	Total Current Liabilities	$	1,746	$	16,825		$	18,571
	Notes Payable	$	16,877	$	(16,825	)	$	52
	Total Long-Term Liabilities	$	19,836	$	(16,825	)	$	3,011

Note_5_Oil_and_Natural_Gas_Pro1

Note 5 - Oil and Natural Gas Properties (Tables)	3 Months Ended
	Mar. 31, 2014
Oil and Gas Property [Abstract]	'
Cost Incurred in Oil and Gas Property Acquisition, Exploration, and Development Activities Disclosure [Table Text Block]	'
	(in thousands)	Acquisition and		Accumulated			Total
		Development Costs		Depletion
	Balance at December 31, 2013	$	25,930	$	(2,330	)	$	23,600
	Activity from January 1, 2014 through March 31, 2014		124		(128	)		(4	)
		$	26,054	$	(2,458	)	$	23,596

Note_1_Restatement_of_Previous2

Note 1 - Restatement of Previously Issued Financial Statements (Details) - Reclassifications to Current Maturities of Long-term Debt (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current Maturities of Notes Payable	$16,838,000	$17,512,000
Total Current Liabilities	18,571,000	19,364,000
Notes Payable	52,000	56,000
Total Long-Term Liabilities	3,011,000	3,422,000
Scenario, Previously Reported [Member]	'	'
Current Maturities of Notes Payable	13,000	387,000
Total Current Liabilities	1,746,000	2,239,000
Notes Payable	16,877,000	17,181,000
Total Long-Term Liabilities	19,836,000	20,547,000
Scenario, Adjustment [Member]	'	'
Current Maturities of Notes Payable	16,825,000	17,125,000
Total Current Liabilities	16,825,000	17,125,000
Notes Payable	-16,825,000	-17,125,000
Total Long-Term Liabilities	($16,825,000)	($17,125,000)

Note_3_Going_Concern_Considera1

Note 3 - Going Concern Consideration (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Going Concern [Abstract]	'	'	'
Working Capital (Deficit)	($17,975,000)	'	($18,476,000)
Retained Earnings (Accumulated Deficit)	-42,678,000	'	-42,572,000
Net Income (Loss) Attributable to Parent	-106,000	-367,000	'
Put Arrangement, Value of Common Stock	'	'	$5,000,000

Note_4_Summary_of_Significant_1

Note 4 - Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Note 4 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'
FDIC Deposit Insurance Coverage	$250,000	'	'
Cash, Uninsured Amount	0	'	44,000
Provision for Doubtful Accounts	0	0	'
Value of Properties Other than that Attributable to Proved Reserves	0	'	0
Proceeds From Sale Or Disposition Of Oil And Gas Properties Recognized As Capitalized Cost Threshold Percentage	25.00%	'	'
Gain (Loss) on Disposition of Oil and Gas and Timber Property	0	0	'
Oil And Gas Property Full Cost Method Industry Stardard Discount	10.00%	'	'
Impairment of Oil and Gas Properties	0	0	'
Goodwill, Impairment Loss	0	0	'
Weighted Average Number Diluted Shares Outstanding Adjustment (in Shares)	2,494,500	'	1,374,500
Allocated Share-based Compensation Expense	13,000	0	'
Vehicles and Office Equipment [Member] | Minimum [Member]	'	'	'
Note 4 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'5 years	'	'
Vehicles and Office Equipment [Member] | Maximum [Member]	'	'	'
Note 4 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'6 years	'	'
Field Equipment [Member]	'	'	'
Note 4 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'10 years	'	'
Building [Member]	'	'	'
Note 4 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'
Property, Plant and Equipment, Useful Life	'20 years	'	'
Incurred During Development of Wells [Member]	'	'	'
Note 4 - Summary of Significant Accounting Policies (Details) [Line Items]	'	'	'
Interest Costs Incurred	$0	$8,000	'

Note_5_Oil_and_Natural_Gas_Pro2

Note 5 - Oil and Natural Gas Properties (Details) - Proved Oil and Gas Properties (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Proved Oil and Gas Properties [Abstract]	'
Balance at December 31, 2013	$25,930
Balance at December 31, 2013	-2,330
Balance at December 31, 2013	23,600
Activity from January 1, 2014 through March 31, 2014	124
Activity from January 1, 2014 through March 31, 2014	-128
Activity from January 1, 2014 through March 31, 2014	-4
	26,054
	-2,458
	$23,596

Note_6_Shareholders_Equity_Det

Note 6 - Shareholders' Equity (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Warrants Issued During Period, New Issues	52,125	'
Class of Warrant or Right, Outstanding, Exercisable Term	'2 years	'
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1	'
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Share)	$3.75	'
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	12,500	'
Proceeds from Issuance of Preferred Stock and Preference Stock (in Dollars)	$560,000	$188,000
Common Stock [Member] | Series G Preferred Stock [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	1	'
Convertible Preferred Stock, Shares Issued upon Conversion	2	'
Common Stock [Member] | Warrant [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Stock Issued During Period, Shares, Other	251,875	'
Common Stock [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Stock Issued During Period, Shares, New Issues	256,875	'
Stock Issued During Period, Shares, Other	5,000	'
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	12,500	'
Warrant [Member] | Series G Preferred Stock [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Share)	$3.75	'
Convertible Preferred Stock, Warrants Issued upon Conversion	2	'
Series G Preferred Stock [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Stock Issued During Period, Shares, New Issues	560,000	'
Class of Warrant or Right, Outstanding, Exercisable Term	'2 years	'
Preferred Stock, Dividend Rate, Percentage	8.00%	'
Proceeds from Issuance of Preferred Stock and Preference Stock (in Dollars)	560,000	'
Constructive Dividends on Series G Preferred Stock [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Dividends, Preferred Stock (in Dollars)	$635,000	'
Warrant [Member]	'	'
Note 6 - Shareholders' Equity (Details) [Line Items]	'	'
Stock Issued During Period, Shares, Other	251,875	'

Note_7_Notes_Payable_Details

Note 7 - Notes Payable (Details) (USD $)

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

19-May-11

Oct. 31, 2012

Feb. 14, 2014

Feb. 11, 2013

Mar. 31, 2014

Feb. 12, 2014

Dec. 31, 2013

Dec. 31, 2012

19-May-11

Mar. 31, 2014

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Oct. 21, 2013

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Green Bank [Member]

Western Equipment Finance [Member]

Western Equipment Finance [Member]

Western Equipment Finance [Member]

Prime Rate [Member]

March 1, 2012 Through September 30, 2012 [Member]

Through January 15, 2013 [Member]

March 1, 2014 through May 1, 2014 [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Note 7 - Notes Payable (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity

'

'

'

'

'

'

'

'

$16,950,000

'

'

$15,000,000

'

'

'

'

'

'

'

$74,000

Debt Instrument, Basis Spread on Variable Rate

'

'

-0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

'

'

'

'

'

'

4.50%

'

'

'

'

9.00%

'

'

Debt Instrument, Interest Rate at Period End

'

'

'

'

'

'

'

'

'

4.50%

4.50%

'

'

'

'

'

'

'

'

'

Debt Instrument, Periodic Payment, Principal

'

'

'

125

150

125

0

'

'

'

'

'

'

'

'

'

'

'

'

'

Current Ratio

'

'

'

'

'

'

'

'

'

'

'

'

1

'

'

'

'

'

'

'

Total Liabilities to Tangible Net Worth Ratio

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

EBITDAX to Interest Expense Ratio

'

'

'

'

'

'

'

'

'

'

'

'

'

3.5

3.25

3

'

'

'

'

Notes Payable

'

'

'

'

'

'

'

16,825,000

'

17,500,000

'

'

'

'

'

'

'

64,000

68,000

'

Debt, Current

0

375,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term Debt, Current Maturities

$16,838,000

$17,512,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$13,000

$13,000

'

Note_8_Related_Party_Transacti1

Note 8 - Related Party Transactions (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Related Party Transactions [Abstract]	'	'
Related Party Transaction, Amounts of Transaction	$0	$0

Note_9_Subsequent_Events_Detai

Note 9 - Subsequent Events (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	12-May-14
			Subsequent Event [Member]
			Savell Properties [Member]
Note 9 - Subsequent Events (Details) [Line Items]	'	'	'
Proceeds from Sale of Oil and Gas Property and Equipment	($124,000)	($711,000)	$508,000