Lilis Energy (LLEX) 10-Q 26 Nov 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Nov. 21, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'LILIS ENERGY, INC.	'
Entity Central Index Key	'0001437557	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	27,676,067

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets:	'	'
Cash	$1,449,152	$165,365
Restricted cash	409,163	504,623
Accounts receivable (net of allowance of $50,000 at June 30, 2014 and December 31, 2013, respectively)	614,504	467,337
Prepaid assets	180,283	195,716
Preferred stock subscriptions receivable	1,853,000	'
Commodity price derivative receivable	'	6,679
Total current assets	4,506,102	1,339,720
Oil and gas properties (full cost method), at cost:	'	'
Evaluated properties	68,797,806	68,213,467
Unevaluated acreage, excluded from amortization	18,957,997	18,663,569
Wells in progress, excluded from amortization	5,903,307	1,145,794
Total oil and gas properties, at cost	93,659,110	88,022,830
Less accumulated depreciation, depletion, amortization, and impairment	-46,388,956	-45,457,637
Total oil and gas properties, net	47,270,154	42,565,193
Other assets:	'	'
Office equipment, net	78,386	91,161
Deferred financing costs, net	160,301	294,699
Restricted cash and deposits	215,541	215,541
Total other assets	454,228	601,401
Total assets	52,230,484	44,506,314
Current liabilities:	'	'
Accounts payable	6,705,112	1,932,618
Accrued expenses	1,929,950	1,439,956
Short term loans payable	'	10,662,904
Convertible notes payable, net of discount	6,930,118	'
Total current liabilities	15,565,180	14,035,478
Long term liabilities:	'	'
Asset retirement obligation	1,149,216	1,104,952
Term loans payable	14,800,175	8,111,436
Convertible notes payable, net of discount	'	14,586,618
Convertible notes conversion derivative liability	'	1,150,000
Total long-term liabilities	15,949,391	24,953,006
Total liabilities	31,514,571	38,988,484
Commitments and contingencies - Notes 2, 9, 10, 12, 13, and 14	'	'
Shareholders' equity:	'	'
Preferred stock, $.0001 par value; stated rate $1,000:10,000,000 authorized, 7,500 and none issued and outstanding as of June 30, 2014 and December 31, 2014, respectively, liquidation preferences of $7,540,681 at June 30, 2014	7,500,000	'
Common stock, $0.0001 par value:100,000,000 shares authorized; 27,513,566 and 19,671,901 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively	2,751	1,967
Additional paid in capital	147,472,098	121,451,232
Accumulated deficit	-134,258,968	-115,935,369
Total shareholders' equity	20,715,913	5,517,830
Total liabilities and shareholders' equity	$52,230,484	$44,506,314

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Balance Sheets [Abstract]	'	'
Allowance related to accounts receivable	$50,000	$50,000
Preferred stock, par value (In dollars per share)	$0.00	$0.00
Preferred stock, value stated rate	1,000	1,000
Preferred Stock, liquidation preference	$7,540,681	'
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	7,500	'
Preferred Stock, shares outstanding	7,500	'
Common stock, par value (In dollars per share)	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	27,513,566	19,671,901
Common stock, shares outstanding	27,513,566	19,671,901

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Oil sales	$979,523	$1,189,005	$1,679,609	$2,316,338
Gas sales	102,324	38,805	189,990	145,202
Operating fees	42,152	42,019	76,881	90,522
Realized gain on commodity price derivatives	'	'	11,143	19,890
Total revenues	1,123,999	1,269,829	1,957,623	2,571,952
Costs and expenses:	'	'	'	'
Production costs	221,260	255,454	637,583	559,301
Production taxes	101,230	162,045	194,910	278,039
General and administrative	2,643,063	1,367,976	5,601,478	2,352,235
Depreciation, depletion and amortization	570,403	651,175	959,039	1,340,829
Total costs and expenses	3,535,956	2,436,650	7,393,010	4,530,404
Loss from operations	-2,411,957	-1,166,821	-5,435,387	-1,958,452
Other Income (expenses):	'	'	'	'
Other income	44	141	97	392
Inducement expense	'	'	-6,661,275	'
Convertible notes conversion derivative gain (loss)	-300,000	-10,000	850,000	-30,000
Interest expense	-1,953,127	-1,669,519	-3,469,458	-3,305,678
Total other expenses	-2,253,083	-1,679,378	-9,280,636	-3,333,206
Net loss	-4,665,040	-2,846,199	-14,716,023	-5,293,738
Accretion of Series A Convertible Preferred Stock	-3,566,895	'	-3,566,895	'
Accrued dividends for Series A Convertible Preferred Stock	-40,681	'	-40,681	'
Net loss attributable to common shareholders	($8,272,616)	($2,846,199)	($18,323,599)	($5,293,738)
Loss per common share:	'	'	'	'
Net loss per common share (basic and diluted)	($0.30)	($0.15)	($0.70)	($0.29)
Weighted average shares outstanding (basic and diluted)	27,498,284	18,668,080	26,292,183	8,551,301

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net loss	($14,716,023)	($5,293,738)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Inducement of conversion of convertible debentures	6,661,275	'
Common stock issued for convertible note interest	148,129	270,032
Common stock issued for financing cost	686,273	'
Common stock for services and compensation	1,177,039	799,567
Amortization of deferred financing costs	134,398	354,493
Change in fair value of convertible notes conversion derivative	-850,000	30,000
Accretion of debt discount	895,369	1,128,442
Depreciation, depletion, amortization and accretion of asset retirement obligation	989,126	1,333,922
Changes in operating assets and liabilities:	'	'
Accounts receivable	-147,166	362,380
Restricted cash	95,460	86,512
Other assets	431,003	-43,084
Accounts payable and other accrued expenses	30,293	-288,384
Net cash used in operating activities	-4,464,824	-1,256,858
Cash flows from investing activities:	'	'
Acquisition of undeveloped acreage	-305,000	'
Drilling capital expenditures	-109,057	-85,371
Sale of oil and gas properties	'	640,000
Additions to oil and gas properties	-24,030	-732,061
Additions to office equipment	-768	-23,276
Investments in operating bonds	'	-106
Net cash used in investing activities	-438,855	-200,814
Cash flows from financing activities:	'	'
Proceeds from issuance of common stock	5,327,687	1,161,912
Debt issuances	1,000,000	'
Proceeds from issuance of Series A Convertible Preferred Stock	4,940,992	'
Repayment of debt	-5,081,213	-44,368
Net cash provided by financing activities	6,187,466	1,117,544
Change in cash and cash equivalents	1,283,787	-340,128
Cash and cash equivalents at beginning of period	165,365	970,035
Cash and cash equivalents at end of period	1,449,152	629,907
Non-cash transactions:	'	'
Additions to drilling capital expenditures from an increase in accounts payable and other accrued expenses	5,198,193	'
Stock issued for payment on Convertible Debentures	8,744,836	'
Preferred stock subscription receivable	$1,853,000	'

Organization

Organization	6 Months Ended
	Jun. 30, 2014
Organization [Abstract]	'
ORGANIZATION	'
	NOTE 1 – ORGANIZATION
	Lilis Energy, Inc. (“Lilis”, “Lilis Energy”, “we”, “our”, and the “Company”) is an independent oil and gas exploration and production company focused on the Denver-Julesburg Basin (“DJ Basin”), where it holds 84,000 net acres. Lilis drills, operates and produces oil and natural gas wells through the Company’s land holdings located in Wyoming, Colorado, and Nebraska.
	All references to production, sales volumes and reserves quantities are net to our interest unless otherwise indicated.

Liquidity

Liquidity	6 Months Ended
	Jun. 30, 2014
Liquidity [Abstract]	'
LIQUIDITY	'
	NOTE 2 – LIQUIDITY
	As of June 30, 2014, the Company had $14.80 million outstanding under its term loans with Hexagon, LLC (“Hexagon”) and $6.93 million outstanding under its 8% Senior Secured Convertible Debentures (the “Debentures”). Both the term loans and the Debentures were to mature on May 16, 2014. In June 2014, the maturity date under the Debentures was extended to January 15, 2015. In May 2014, Hexagon extended the maturity of the Company’s term loan to August 15, 2014, and in September 2014, the Company entered into a settlement agreement with Hexagon whereby the total principal and interest outstanding under the term loans was settled. (See Note 14- Subsequent Events for a more detailed discussion of the transactions consummated with respect to the Hexagon term loans.) While the settlement of the Hexagon term loans eliminated a significant debt burden to the Company, it also resulted in the assignment of several producing properties, which will affect the Company’s operating revenue.
	Since March 31, 2014, the Company has consummated the following other transactions related to its liquidity: (i) on May 30, 2014 the Company consummated a private placement to accredited investors of its Series A 8% Convertible Preferred Stock (the “Series A Preferred”) and three-year warrants to purchase Common Stock equal to 50% of the number of shares issuable upon full conversion of the Series A Preferred for gross proceeds of $7.50 million; (ii) on June 6, 2014, the holders of the remaining Debentures agreed to further extend the maturity date under the Debentures from August 15, 2014 to January 15, 2015; (iii) on June 6, 2014, T.R. Winston & Company, LLC (“T.R. Winston”) executed an agreement that they or a designee will purchase an additional $15.0 million of preferred stock under the same terms of the Series A Preferred Stock within 90 days; furthermore, on November 25, 2014, T.R. Winston has reaffirmed and extended their commitment for 90 days or until February 22, 2015. In November 2014, a controlling member of T.R. Winston was elected to the Company’s board of directors. T.R. Winston has informed the Company that there is a possible conflict between being the Company’s investment banker and board member, and as a result will refrain from acting as the Company’s  investment banker; and (iv) on October 6, 2014, the Debenture holders agreed to waive any event of default under the Debentures that may have occurred prior to the date of the waiver (including, without limitation, any default relating to the Company’s indebtedness to Hexagon), and to rescind and annul any acceleration or right to acceleration that may have been triggered thereby. (See Note 14 – Subsequent Events.)
	As of November 24, 2014, the Company has $1.00 million in cash on hand and is currently producing approximately 70 BOE a day from eight economically producing wells. Furthermore, as of the date of this report, the Company has a negative working capital of approximately $8.25 million, including $6.93 million in convertible debentures due as of January 15, 2015, and $0.50 million within the accrued liabilities for convertible debenture interest. The Company is negotiating with the holders of the convertible debentures to pay the interest currently due with restricted shares of common stock, and extension of the maturity date of the debentures.
	The Company will require additional capital to satisfy its obligations, including repayment of the Debentures in January 2015; to fund its current drilling commitments and acquisition and capital budget plans; to help fund its ongoing overhead; and to provide additional capital to generally improve its working capital position. We anticipate that such additional funding will be provided by a combination of capital raising activities, including borrowing transactions, the sale of additional debt and/or equity securities, the sale of certain assets and by the development of certain of the Company’s undeveloped properties via arrangements with joint venture partners. If we are not successful in obtaining sufficient cash to fund the aforementioned capital requirements, we would be required to curtail our expenditures, and may be required to restructure our operations, sell assets on terms which may not be deemed favorable and/or curtail other aspects of our operations, including deferring all or portions of our capital budget. There is no assurance that any such funding will be available to the Company on acceptable terms, if at all.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying financial statements were prepared by Lilis in accordance with generally accepted accounting principles (“GAAP”) in the United States. The financial statements reflect all normal recurring adjustments which are, in the opinion of management, necessary to provide a fair statement of the results of operations and financial position.
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires us to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Management evaluates estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic and commodity price environment.
	Our most significant financial estimates are associated with our estimated proved oil and gas reserves, assessments of impairment imbedded in the carrying value of undeveloped acreage and undeveloped properties, as well as valuation of common stock used in various issuances, options and warrants, and estimated derivative liabilities.
	Net Loss per Common Share
	Earnings (losses) per common share are computed based on the weighted average number of common shares outstanding during the period presented. Diluted earnings (losses) per share are computed using the weighted-average number of common shares outstanding plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares. Potentially dilutive securities, such as conversion derivatives and stock purchase warrants, are excluded from the calculation when their effect would be anti-dilutive. As of June 30, 2014, a total of 16,080,139 and 3,364,016 shares underlying warrants and convertible debentures, respectively, have been excluded from the diluted share calculations as they were anti-dilutive as a result of net losses incurred. Accordingly, basic shares equal diluted shares for all periods presented.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08: Presentation of Financial Statements (“Topic 205”) and Property, Plant, and Equipment (“Topic 360”): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). ASU 2014-08 changes the criteria for reporting discontinued operations while enhancing disclosures in this area and is effective for annual and interim periods beginning after December 15, 2014. Early adoption is permitted for disposals or for assets classified as held for sale that have not been reported in previously issued financial statements. We elected to early adopt ASU 2014-08 on a prospective basis, and the adoption did not have any impact on our financial statements.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”), which creates Topic 606, Revenue from Contracts with Customers, and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, ASU 2014-09 supersedes the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts, and creates new Subtopic 340-40, Other Assets and Deferred Costs— Contracts with Customers. In summary, the core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, ASU 2014-09 requires enhanced financial statement disclosures over revenue recognition as part of the new accounting guidance. The amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and early application is not permitted. We are currently evaluating the provisions of ASU 2014-09 and assessing the impact, if any, it may have on our financial position and results of operations.

Preferred_Stock_Subscription_R

Preferred Stock Subscription Receivable	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
PREFERRED STOCK SUBSCRIPTION RECEIVABLE	'
	NOTE 4 – PREFERRED STOCK SUBSCRIPTION RECEIVABLE
	In May 2014, the Company consummated a private placement to accredited investors of its Series A 8% Convertible Preferred Stock (the “Series A Preferred”) and three-year warrants to purchase Common Stock equal to 50% of the number of shares issuable upon full conversion of the Series A Preferred, for gross proceeds of $7.50 million (the “May 2014 Private Placement”). As of June 30, 2014, $1.85 million of subscriptions were not funded. However, as of September 2014, the full $7.50 million had been received. (See Note 12- Preferred Stock.)

Oil_and_Gas_Properties

Oil and Gas Properties	6 Months Ended
	Jun. 30, 2014
Oil and Gas Properties [Abstract]	'
OIL AND GAS PROPERTIES	'
	NOTE 5 – OIL AND GAS PROPERTIES
	In April 2014, the Company transferred $0.47 million from wells-in-progress to oil and gas properties for one of its wells in Northern Wattenberg within Weld County, Colorado.
	The Company has accrued expenses related to development of certain wells in the Northern Wattenberg field with a joint venture partner which is currently being disputed. Upon resolution of that dispute, the Company may lose all or a portion of the value of its ownership interests in the wells in question. Once the status of the wells is finally determined, the Company will transfer the wells and the applicable reserves to the full cost pool.
	On September 2, 2014, the Company assigned to Hexagon all of the collateral securing the Company’s term loans (the “Hexagon Collateral”), which consisted of 30,000 net acres and several economic wells which secured several Proved Development Producing reserves and several Proved Undeveloped reserves following the assignment of collateral to Hexagon, the Company retained 84,000 net acres in the DJ Basin and various producing wells. (see Note-14 Subsequent Events).

Wells_in_Progress

Wells in Progress	6 Months Ended
	Jun. 30, 2014
Wells in Progress [Abstract]	'
WELLS IN PROGRESS	'
	NOTE 6 – WELLS IN PROGRESS
	As of June 30, 2014, the Company had $5.90 million in wells in progress compared to $1.15 million as of December 31, 2013. The June 30, 2014 amount relates to accrued but unfunded accrued expenses on certain wells in the Northern Wattenberg field with a joint venture partner, which is currently being disputed. Upon resolution of that dispute, the Company may lose all or a portion of its ownership interests in the wells, and the value of the associated reserves in question. Once the status of the wells is finally determined, the Company will transfer the wells and the applicable reserves to the full cost pool.
	In April 2014, the Company transferred $0.47 million from wells in progress to oil and gas properties from another property in Northern Wattenberg. The well is producing.
	The Company has accrued $0.50 million of costs from wells in progress due to a dispute between two royalty interest owners unrelated to the Company. Once the dispute is resolved, the Company expects to retain its original working interest.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2014
Derivatives [Abstract]	'
DERIVATIVES	'
	NOTE 7 - DERIVATIVES
	We are exposed to fluctuations in crude oil prices, natural gas liquids, and natural gas prices for all of our production. In order to mitigate the effect of commodity price volatility with our crude oil and enhance the predictability of cash flows relating to the marketing of our crude oil, we may enter into crude oil price hedging arrangements with respect to a portion of our expected production.
	As of June 30, 2014, the Company did not maintain any commodity derivatives.
	The amount of gain recognized in income related to our derivative financial instruments are as follows (in thousands):
		For the				For the
		Six Months Ended				Three Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Realized gain on oil price hedges	$	11	$	20	$	-	$	-
	Realized gains and losses are recorded as income or expenses in the periods during which applicable contracts mature and settle. (See Note 8 - Fair Value of Financial Instruments.)

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2014
Fair Value of Financial Instruments [Abstract]	'
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
	NOTE 8 - FAIR VALUE OF FINANCIAL INSTRUMENTS
	The Company measures fair value of its financial assets on a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
	●	Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
	●	Level 2 – Other inputs that are directly or indirectly observable in the market place.
	●	Level 3 – Unobservable inputs which are supported by little or no market activity.
	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
	The Company’s cash equivalents, short-term investments, accounts receivable, preferred stock subscription receivable, accounts payable, accrued expenses, interest payable and customer deposits approximate fair value due to the short-term nature or maturity of the instruments. The Company’s fixed rate 10% and 8% term loans and convertible debentures, respectively, are measured using Level 3 inputs.
	Convertible Debentures Conversion Derivative Liability
	In February 2011, the Company issued in a private placement $8.40 million aggregate principal amount of three year Debentures to a group of accredited investors. During the year ended December 31, 2012, the Company issued an additional $5.00 million of Debentures, resulting in a total of $13.40 million in Debentures outstanding as of December 31, 2012. During the year ended December 31, 2013, the Company issued an additional $2.20 million of Debentures, for a total Debenture amount of $15.58 million. On January 31, 2014, the Company entered into a Debenture Conversion Agreement (the "Conversion Agreement") with all of the holders of the Debentures. Pursuant to the terms of the Agreement, $9.00 million in Debentures was converted at a price of $2.00 per share of the Company’s common stock, par value $0.0001 (“Common Stock”). In addition, the Company issued warrants to the Debenture holders to purchase one share of Common Stock at an exercise price equal to $2.50 per share, equal to the number of shares of Common Stock issued in connection with conversion of the Debentures. The Company’s Chief Executive Officer (“CEO”) is an indirect owner of a group which converted approximately $0.22 million of Debentures.
	As of June 30, 2014, the Company had $6.93 million in remaining Debentures which are convertible at any time at the holders’ option into shares of Common Stock at $2.00 per share, subject to certain adjustments, including the requirement to reset the conversion price based upon any subsequent equity offering at a lower price per share amount. The Company engaged a third party to complete a valuation of this conversion liability (see Note 9-Loan Agreements).
	The following table provides a summary of the fair values of assets and liabilities measured at fair value (in thousands):
	June 30, 2014:
			Level 1			Level 2		Level 3			Total
	Liabilities
	Executive employment agreements compensation		$	-		$	-	$	(325	)	$	(325	)
	Convertible debentures conversion derivative liability		$	-		$	-	$	(300	)	$	(300	)
	Total liability, at fair value		$	-		$	-	$	(625	)	$	(625	)
	December 31, 2013:
			Level 1			Level 2		Level 3			Total
	Assets
	Derivative instruments		$	-		$	7	$	-		$	7
	Total assets, at fair value		$	-		$	7	$	-		$	7
	Liabilities
	Executive employment agreement		$	-		$	-	$	(145	)	$	(145	)
	Convertible debentures conversion derivative liability		$	-		$	-	$	(1,150	)	$	(1,150	)
	Total liability, at fair value		$	-		$	-	$	(1,295	)	$	(1,295	)
	The following table provides a summary of changes in fair value of the Company’s Level 3 financial assets and liabilities for the six months ended June 30, 2014 (in thousands):
	Beginning balance, December 31, 2013		$	(1,295	)
	Executive compensation liability			(180	)
	Convertible debentures conversion derivative gain			850
	Ending balance, June 30, 2014		$	(625	)
	The Company did not have any transfers of assets or liabilities between Level 1, Level 2 or Level 3 of the fair value measurement hierarchy during the three and six months ended June 30, 2014 or 2013.

Loan_Agreements

Loan Agreements	6 Months Ended
	Jun. 30, 2014
Loan Agreements [Abstract]	'
LOAN AGREEMENTS	'
	NOTE 9 – LOAN AGREEMENTS
	Our total outstanding debt as of June 30, 2014 consisted of the following:
	(thousands, except percentages)	June 30,						December 31,
		2014						2013
		Debt			Interest			Debt			Interest
					Rate						Rate
	10% Term Notes, maturity August 15, 2014 (2)(3)	$	14,800			10	%	$	18,774			10	%
	8% Convertible Debentures, maturity January 15, 2015 (1)(4)(5)		6,728			8	%		15,580			8	%
	Total		21,528						34,354
	Unamortized discount		(98	)					(993	)
	Total debt, net of discount		21,430						33,361
	Less: amount due within one year		(6,630	)					(10,663	)
	Long-term debt due after one year	$	14,800					$	22,698
	(1) The Debentures contain cross collateralization and cross default provisions and are collateralized by mortgages against the majority of the Company’s developed and undeveloped leasehold acreage. In accordance with the cross-default provision under the Debentures, as of August 15, 2014 the Company was in default due to its default under the Hexagon term loans. In October 2014, the Debenture holders waived their right to declare a default on that basis. The Debentures mature in January 2015. (See Note 14 - Subsequent Events.)
	(2) The Hexagon loan agreements contained certain non-financial covenants, with which the Company was in substantial compliance as of June 30, 2014.
	(3) Amount represents three separate loan agreements with Hexagon in January, March and April 2010, each of which contained a cross-default provision and which together were secured by a significant amount of the Company’s developed and undeveloped leasehold acreage. On September 2, 2014, the Company entered into the Final Settlement Agreement, pursuant to which the Company assigned the Hexagon Collateral to Hexagon and issued to Hexagon an additional $2 million in 6% Redeemable Preferred. As a result, the Hexagon loan obligations were deemed satisfied, and Hexagon released the related mortgages. Therefore, the loan obligations are classified as a long-term liability for the period ended June 30, 2014. (See Note 14 -Subsequent Events.)
	(4) Debentures are convertible at any time at the holders' option into shares of Common Stock at $2.00 per share. The balance of the Debentures may be converted to Common Stock on the terms provided in the Conversion Agreement (including the terms related to the warrants); subject to receipt of shareholder approval as required by NASDAQ continued listing requirements.
	(5) Interest payments have historically been paid in Common Stock; interest is calculated at an annualized rate of 8% and is payable quarterly on each May 15, August 15, November 15 and February 15 in cash or, at the Company's option (subject to certain conditions), in shares of Common Stock, valued at 95% of the volume weighted average price of the Common Stock for the 10 trading days prior to an interest payment date.
	Term Loans
	As of June 30, 2014, the Company had three term loans with Hexagon, its senior lender, with an aggregate outstanding principal amount of approximately $14.80 million. The loans required the Company to make monthly payments of $0.23 consisting of interest and principal. On May 19, 2014, the Company received an extension from Hexagon of the maturity date under its term loans, from May 16, 2014 to August 15, 2014. In connection with the extension, the Company paid a forbearance fee of $0.25 million which was recorded as deferred financing cost and amortized over the extension period of the term loans. The Company amortized $0.12 million of deferred financing costs into interest expense during the three and six months ended June 30, 2014.
	On May 30, 2014, the Company entered into the First Settlement Agreement with Hexagon, which provided for the settlement of all amounts outstanding under the term loans. In connection with the execution of the First Settlement Agreement, the Company made initial cash payment of $5.0 million. The First Settlement Agreement required the Company to make an additional cash payment of $5.0 million (the “Second Cash Payment”) by August 15, 2014, and at that time issue to Hexagon (i) a two-year $6.0 million unsecured note (the “Replacement Note”), bearing interest at an annual rate of 8%, requiring principal and interest payments of $90,000 per month, and (ii) 943,208 shares of unregistered Common Stock (the “Shares”). The parties also agreed that if the Second Cash Payment was not made by June 30, 2014, an additional $1.0 million in principal would be added to the Replacement Note, and if the Replacement Note was not retired by December 31, 2014, the Company would issue an additional 1.0 million shares of Common Stock to Hexagon.
	The Company did not make the Second Cash Payment by August 15, 2014.
	On September 2, 2014, the Company entered into the Final Settlement Agreement which replaced the First Settlement Agreement, pursuant to which, in exchange for full extinguishment of all amounts payable under the term loans (approximately $14.03 million in principal and interest as of the settlement date), the Company assigned Hexagon the Hexagon Collateral, which consisted of 30,000 net acres including several economic wells which secured properties with Proved Development Producing reserves and Proved Undeveloped reserves, and issued to Hexagon the Redeemable Preferred. (See Note 14 - Subsequent Events.)
	Convertible Debentures Payable
	In separate private placement transactions between February 2011 and October 2013, the Company issued an aggregate of approximately $15.6 million of Debentures, secured by mortgages on several of its properties. The Debentures are currently convertible at the holders' option into shares of Common Stock at $2.00 per share, subject to certain adjustments, and bear interest at an annualized rate of 8%, payable quarterly on each May 15, August 15, November 15 and February 15 in cash or, at the Company's option subject to certain conditions, in shares of Common Stock.
	On January 31, 2014, the Company entered into a "Conversion Agreement" with all of the holders of the Debentures. Pursuant to the terms of the Conversion Agreement, $9.00 million in Debentures was converted by the holders to common stock at a conversion price of $2.00 per share of common stock. In addition, the Company issued warrants to the Debenture holders to purchase one share of Common Stock for each share issued in connection with conversion of the Debentures, at an exercise price equal to $2.50 per share. The Company’s CEO is an indirect owner of a group which converted approximately $0.22 million of Debentures pursuant to the Conversion Agreement.  As of June 30, 2014, the Company had $6.93 million remaining Debentures which are convertible at any time at the holders’ option into shares of Common Stock at $2.00 per share, subject to certain adjustments, including the requirement to reset the conversion price based upon any subsequent equity offering at a lower price per share amount.
	On May 19, 2014, the holders of the Debentures agreed to extend the maturity date of the Debentures until August 15, 2014, and waived their right to declare an event of default in connection with the May 16, 2014 maturity date under the Debentures. On June 6, 2014, the holders of the remaining Debentures agreed to further extend the maturity date under the Debentures from August 15, 2014 to January 15, 2015.
	We periodically engage a third party valuation firm to complete a valuation of the conversion feature associated with the Debentures. This valuation resulted in an estimated derivative liability as of June 30, 2014 and December 31, 2013 of $0.30 million and $1.15 million, respectively (See Note 8 - Fair Value of Financial Instruments).
	The Company’s failure to meet its obligations under the First Settlement Agreement with Hexagon constituted a default under the term loans, which in turn triggered an event of default under the Debentures. However, the holders of the Debentures have waived their right to declare a default in respect of that matter.
	Interest Expense
	For the three months ended June 30, 2014 and 2013, the Company incurred interest expense of approximately $1.95 million and $1.67 million, respectively, of which approximately $1.47 million and $1.04 million is classified as non-cash interest expense, respectively. The details of the non-cash interest expense are as follows: (i) amortization of the deferred financing costs of $0.07 million, (ii) accretion of the convertible debentures payable discount of $0.23 million, (iii) accrued interest for term note loan fees of $1.00 million and (iv)amortization of forbearance fees of $0.12 million. Cash interest is comprised of, term loan cash expense payment. The increase in interest expense was primarily attributable to fees for not paying a designated amount to the term note holder. Other cash interest increased due to $0.25 million forbearance fees paid to Hexagon, which is being amortized over the life of the extension.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 10 - COMMITMENTS AND CONTINGENCIES
	Environmental and Governmental Regulation
	At June 30, 2014, there were no known environmental or regulatory matters which are reasonably expected to result in a material liability to the Company. Many aspects of the oil and gas industry are extensively regulated by federal, state, and local governments in all areas in which the Company has operations. Regulations govern such things as drilling permits, environmental protection and air emissions/pollution control, spacing of wells, the unitization and pooling of properties, reports concerning operations, land use, royalty rates and various other matters, including taxation. Oil and gas industry legislation and administrative regulations are periodically changed for a variety of political, economic, and other reasons. As of June 30, 2014 the Company had not been fined or cited for any violations of governmental regulations that would have a material adverse effect upon the financial condition of the Company.
	Legal Proceedings
	The Company may from time to time be involved in various legal actions arising in the normal course of business. In the opinion of management, the Company’s liability, if any, in these pending actions would not have a material adverse effect on the financial position of the Company. The Company’s general and administrative expenses would include amounts incurred to resolve claims made against the Company.
	Parker v. Tracinda Corporation, Denver District Court, Case No. 2011CV561. In November 2012, the Company filed a motion to intervene in garnishment proceedings involving Roger Parker, the Company’s former Chief Executive Officer and Chairman. The Defendant has served various writs of garnishment on the Company to enforce a judgment against Mr. Parker seeking, among other things, shares of unvested restricted stock. The Company has asserted rights to lawful set-offs and deductions in connection with certain tax consequences, which may be material to the Company. As a result of bankruptcy proceedings filed by Mr. Parker, the garnishment proceedings were stayed by Court Order dated January 30, 2013. Judgment was entered by the trial court in favor of defendant Tracinda Corp. (“Tracinda”) on Tracinda’s counterclaim for breach of a promissory note before Mr. Parker’s bankruptcy. Although the trial court found that Tracinda had breached its pledge agreement with Mr. Parker, the court ruled Tracinda was not liable on Mr. Parker’s breach of contract claim based on several defenses. Mr. Parker appealed the judgment to the Colorado Court of Appeals (Case No. 2012CA2096) and the appellate proceedings were also stayed by Order of the Colorado Court of Appeals dated April 1, 2013. Stay of the state court proceedings was lifted by Bankruptcy Court Order dated April 12, 2013. On October 17, 2013, the Colorado Court of Appeals affirmed in part, reversed in part (reversing judgment on Mr. Parker’s contract claim) and remanded the case to the trial court with directions to determine damages. At this stage, we cannot express an opinion as to the probable outcome of this matter, although a determination of the issues relating to rights in the unvested stock is expected to be made in the Adversary Proceeding currently pending in the United States Bankruptcy Court for the District of Colorado (described below).
	In re Roger A. Parker: Tracinda Corp. v. Recovery Energy, Inc. and Roger A. Parker, United States Bankruptcy Court for the District of Colorado, Case No. 13-10897-EEB. On June 10, 2013, Tracinda Corp. (“Tracinda”) filed a complaint in an Adversary Proceeding (Adversary No. 13-01301 EEB) against the Company and Roger Parker in connection with the personal bankruptcy proceedings of Roger Parker, alleging that the Company improperly failed to remit to Tracinda certain property in connection with various writs of garnishment issued by the Denver District Court (discussed above). Tracinda seeks, among other things, a declaratory judgment stating that Tracinda is entitled to such property allegedly subject to such writs. The Company filed an answer to this complaint on July 10, 2013. The Bankruptcy Court entered an Order dated August 12, 2014, holding the case in abeyance pending resolution of the state-court appeal of the Denver District Court lawsuit. On October 2, 2014, the Bankruptcy Court entered a Minute Order declaring that it would issue an order in due course continuing the abeyance or ruling on pending motions for summary judgment. A trial date has not been set.
	There are no other material pending legal proceedings to which we or our properties are subject.

Shareholders_Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
SHAREHOLDERS' EQUITY	'
	NOTE 11 - SHAREHOLDERS’ EQUITY
	Common Stock
	As of June 30, 2014, the Company had 100,000,000 shares of Common Stock and 10,000,000 shares of preferred stock authorized, of which 27,513,566 shares of Common Stock and 7,500 preferred shares were issued and outstanding.
	During the six months ended June 30, 2014, the Company issued 7,863,166 shares of Common Stock, including 4,500,000 shares in connection with the Debenture Conversion Agreement, 250,000 for finance expense to complete the conversion of convertible debentures, 3,037,500 for the stock issued for the January 2014 Private Placement, 229,150 shares as restricted stock grants to employees, board members, or consultants (see Note 13 – Share Based and Other Compensation) and 7,500 shares of Series A Preferred (see Note 12 - Preferred Stock).
	Convertible Debenture Interest
	During the six months ended June 30, 2014, the Company did not issue any shares as interest in connection with the Debentures, other than the shares issued in connection with the Debenture Conversion Agreement. As of June 30, 2014, the Company accrued $0.34 million of non-cash interest for the Debenture interest, which the Company anticipates paying with shares upon conversion of the Debentures.
	Debenture Conversion Agreement
	On January 31, 2014, the Company entered into a Debenture Conversion Agreement pursuant to which $9.00 million in Debentures were converted into Common Stock. T.R. Winston & Company, LLC (“T.R. Winston”) acted as the investment banker for the Conversion Agreement and received compensation of $0.45 million, which represented 5% of the $9.0 million. (See Note 9 – Loan Agreements.)
	May 2014 Private Placement
	On May 30, 2014, the Company completed a private placement of 7,500 shares of Series A Preferred, along with detachable warrants to purchase up to 1,167,013 shares of Common Stock at an exercise price of $2.89 for aggregate proceeds of $7.5 million (See Note 12 - Preferred Stock)
	Consulting Agreement
	In January 2014, the Company entered into a consulting agreement with a public relations company. The agreement provided for the issuance by the Company of 350,000 warrants and 90,000 shares of restricted stock. Using a Black Scholes lattice model, the warrants, valued at $0.28 million in the aggregate on the date of grant, vested immediately, and the restricted stock, using the price at issuance, vested on a monthly basis until August 1, 2014, when the agreement was terminated. During the six months ended June 30, 2014, the Company recognized a total expense of $0.41 million for the restricted stock issued pursuant to the consulting agreement.
	Warrants
	A summary of warrant activity for the six months ended June 30, 2014 is presented below:
		Warrants		Weighted-
				Average
				Exercise
				Price
	Outstanding at December 31, 2013		6,773,913	$	4.4
	Granted-January 2014 private placement		3,012,500		2.5
	Granted-debenture conversion agreement		4,500,011		2.5
	Granted –May 2014 preferred private placement		1,556,017		2.89
	Granted-other		663,840		2.88
	Exercised, forfeited, or expired		-		-
	Outstanding at June 30, 2014		16,506,281	$	3.33
	The weighted average remaining contract value life as of June 30, 2014 was 2.16 years, and 1.56 years as of December 31, 2013.

Preferred_Stock

Preferred Stock	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
PREFERRED STOCK	'
	NOTE 12 –PREFERRED STOCK
	Series A 8% Convertible Preferred Stock
	On May 30, 2014, the Company consummated a private placement of 7,500 shares of our Series A Preferred, along with detachable warrants to purchase up to 1,167,013 shares of Common Stock at an exercise price of $2.89, for aggregate proceeds of $7.5 million. The Series A Preferred has a par value of $0.0001 per share, a stated value of $1,000 per share and a conversion price of $2.41, subject to adjustment under certain circumstances. Except as otherwise required by law, holders of Series A Preferred shall not be entitled to voting rights. The holders of the Series A Preferred are entitled to receive a dividend payable, at the election of the Company (subject to certain conditions as set forth in the Certificate of Designations), in cash or shares of Common Stock, at a rate of 8% per annum. The Series A Preferred is convertible at any time at the option of the holders, or at the Company’s discretion when Common Stock trades above $7.50 for ten consecutive days with a daily dollar trading volume above $300,000. In addition, the Company has the right to redeem the shares of Series A Preferred, along with any accrued and unpaid dividends, at any time, subject to certain conditions as set forth in the Certificate of Designations. In addition, holders of the Series A Preferred can require the Company to redeem the Series A Preferred upon the occurrence of certain triggering events, including (i) failure to timely deliver shares of Common Stock after valid delivery of a notice of conversion by the holder; (ii) failure to have available a sufficient number of authorized and unreserved shares of Common Stock to issue upon conversion; (iii) the occurrence of certain change of control transactions; (iv) the occurrence of certain events of insolvency; and (v) the ineligibility of the Company to electronically transfer its shares via the Depository Trust Company or another established clearing corporation.
	As of June 30, 2014, the Company had received gross proceeds of $5.65 million from the May 2014 Private Placement, for which the Company paid $0.71 million in fees for net proceeds of $4.94 million. As of June 30, 2014, the Company immediately recognized, since the preferred shares are convertible at any time after the date of issuance, an accretion expense of $3.57 million and a private preferred subscription receivable of $1.85 million. The subscription receivable was fully funded in September 2014. As of June 30, 2014, the Company has accrued a cumulative dividend for $.04 million which is payable as of July 1, 2014 and funded August 2014.
	The table below summarizes the primary characteristics of the Series A Preferred as of June 30, 2014:
	Total shares outstanding as of June 30, 2014		7,500
	Conversion price	$	2.41
	Shares of Common Stock issuable upon conversion		3,112,033
	Warrants issued		1,556,017
	Fees paid to placement agent	$	706,000
	Aggregate value of warrants issued (1)	$	1,321,526
	Beneficial conversion feature (2)	$	1,539,369
	(1) The intrinsic value of the warrant was calculated at $1.60 million utilizing the Black Scholes Lattice Model. The gross proceeds of $7,500,000 were allocated to the preferred stock and the warrants on a relative fair value basis, resulting in an allocation to the warrants of $1,321,526.
	(2) The Company considered the beneficial ownership features of the Series A Preferred shares and determined that since the conversion price is $2.41 along with a detachable warrant, the Company recorded a beneficial conversion feature of $1.54 million, after considering the discount resulting from the proceeds allocated to the warrants

Share_Based_and_Other_Compensa

Share Based and Other Compensation	6 Months Ended
	Jun. 30, 2014
Share Based and Other Compensation [Abstract]	'
SHARE BASED AND OTHER COMPENSATION	'
	NOTE 13 - SHARE BASED AND OTHER COMPENSATION
	Share-Based Compensation
	In September 2012, the Company adopted the 2012 Equity Incentive Plan (the “EIP”). The EIP was amended by the stockholders on June 27, 2013 to increase the number of shares of Common Stock available for grant under the EIP from 900,000 shares to 1,800,000 shares and again on November 13, 2013 to increase the number of shares of Common Stock available for grant under the EIP from 1,800,000 shares to 6,800,000 shares and to increase the number of shares of Common Stock eligible for grant under the EIP in a single year to a single participant from 1,000,000 shares to 3,000,000 shares. Each member of the board of directors and the management team has been periodically awarded restricted stock grants, and in the future will be awarded such grants under the terms of the EIP.
	The costs of employee services received in exchange for an award of equity instruments are based on the grant-date fair value of the award, recognized over the period during which an employee is required to provide services in exchange for such award.
	During the six months ended June 30, 2014, the Company granted 229,150 shares of restricted common stock to employees, directors and consultants, and 400,000 shares of restricted common stock and stock options that had previously been granted under the EIP were forfeited in connection with the termination of certain employees, directors and consultants.
	The Company recognized a stock compensation expense, for the six months ended June 30, 2014, of approximately $0.20 million and a credit to expense of $0.11 million for cancelled shares for the six months ended June 30, 2014.
	Stock Options
	A summary of stock options activity for the six months ended June 30, 2014 is presented below:
		Stock
		Options
	Outstanding at December 31, 2013		3,800,000
	Granted		1,500,000
	Exercised, forfeited, or expired		(400,000	)
	Outstanding at June 30, 2014		5,100,000
	In June 2013, the Company entered into employment agreements with W. Phillip Marcum and A. Bradley Gabbard for non-cash compensation which consisted of each individual receiving 300,000 stock options of which 100,000 vested immediately and 200,000 were scheduled to vest over the following 2 years. The options had a five-year life and an exercise price of $1.60. The 600,000 stock options were valued at $0.52 million on date of grant. During the year ended December 31, 2013, the Company recognized $0.27 million as non-cash compensation expense and $0.25 million to be amortized over the remaining vesting period. In April 2014, Mr. Marcum resigned from his role as CEO, entering into a severance agreement pursuant to which, among other things, the 200,000 options that had been unvested at the time of his termination became immediately vested. The Company reversed the 200,000 unvested options valued at $0.07 million, and reissued fully vested options, which it valued utilizing the Black Scholes Lattice model at $0.41 million.
	In May 2014, in connection with his resignation as Chief Financial Officer (“CFO”), A. Bradley Gabbard forfeited 200,000 options that were unvested at the time of his termination. The Company recorded a reversal of $0.08 million. Both Mr. Marcum and Mr. Gabbard forfeited their respective 68,750 shares of unvested restricted stock, for which the Company recorded a reversal of $0.10 million.
	Employment Agreements
	Executive Compensation for Abraham Mirman
	The Company is party to an employment agreement with its CEO, Abraham Mirman (the “Mirman Agreement”). The Mirman Agreement, as amended, provides for an incentive bonus package that, depending upon the relative performance of the Company’s Common Stock compared to the performance of stocks of certain peer group companies as measured from Mr. Mirman’s initial date of employment through December 31, 2015, may result in a cash bonus payment to Mr. Mirman of up to 3.0 times his base salary. In addition, in connection with the Mirman Agreement, Mr. Mirman was granted options to purchase up to 2,000,000 shares of Common Stock, subject to vesting when the value of the Common Stock reaches certain thresholds. The incentive bonus is recorded as a liability and will be valued every quarter. The Company engaged a third party to complete a valuation of this conversion liability. The Company recorded an expense of $0.03 million for the six months ended June 30, 2014, which resulted in a total liability of $0.03 million. We valued the option bonus and stock option grant utilizing a third party valuation expert and valued the option bonus and stock option grant for $0.65 million, to be amortized over the term of the employment contract. During the three months and six months ended June 30, 2014, the Company amortized $0.13 million and $0.25 million, respectively. (See Note 12-Share Based and Other Compensation.) As of October 7, 2014, Mr. Mirman reached the $30.0 million recapitalization provision within his employment contract which immediately triggered the vesting of 600,000 options.
	Board of Directors
	In October 2013, the Company granted each of its independent directors 200,000 non-statutory options to purchase Common Stock at an exercise price of $2.05, equal to the closing price at October 24, 2013. The options vest one-third for the next three years on the anniversary grant date. The value of the 600,000 options at grant date was $0.64 million and will be amortized over the vesting period.
	In June 2013, each director also agreed to receive 31,250 shares of restricted Common Stock in lieu of a portion of his cash compensation, to vest on April 15, 2014. During the three and six months ended June 30, 2014, the Company recognized $0.05 million and $0.11 million, respectively, in compensation expense related to this issuance.
	Robert A. Bell
	In April 2014, in connection with the appointment of Robert A. Bell as our President and Chief Operating Officer, the Company entered an employment agreement with Mr. Bell, which provided for the issuance of 100,000 shares of Common Stock, of which 1/3 vested immediately and the balance was scheduled to vest over three years, subject to certain conditions. In addition, the employment agreement provided that Mr. Bell would receive an equity incentive bonus consisting of a non-statutory stock option to purchase up to 1,500,000 shares of Common Stock subject to Mr. Bell’s continued employment and the Company’s achievement of certain pre-defined production thresholds. The Company received independent valuations of the i) option bonus to purchase 1,500,000 shares of Common Stock; and ii) the incentive bonus. The option to purchase 1,500,000 shares was valued at $1.29 million to be amortized over the life of the employment agreement. During the three months ended June 30, 2014, the Company recorded an expense for the incentive bonus of $0.07 million, and recorded a liability for the incentive bonus of $0.30 million. On August 1, 2014, in connection with the termination of Mr. Bell’s employment, the Company entered into a separation agreement with Mr. Bell. (See Note 14 - Subsequent Events.)
	Separation Agreements
	W. Phillip Marcum
	In April 2014, the Company entered into a separation agreement (the “Marcum Agreement”) with W. Phillip Marcum in connection with his resignation from his positions with the Company.
	The Marcum Agreement provides, among other things, that, consistent with his resignation for good reason under his Employment Agreement, the Company will pay Mr. Marcum 12 months of severance through payroll continuation, in the gross amount of $220,000, less all applicable withholdings and taxes, that all stock options held by Mr. Marcum as of the time of his termination will immediately vest, and that Mr. Marcum would remain eligible to receive any performance bonus granted by the Company to its senior executives with respect to Company and/or executive performance in 2013. In addition, the Marcum Agreement provides that the Company will pay Mr. Marcum $150,000 in accrued base salary for his service in 2013, less all applicable withholdings and taxes, in exchange for Mr. Marcum’s forfeiture of the 93,750 shares of unvested restricted Common Stock of the Company that was issued to Mr. Marcum in June 2013 in lieu of such base salary. Mr. Marcum may elect to apply amounts payable under the Marcum Agreement against his commitment to invest $125,000 in the January 2014 Private Placement, upon shareholder approval of the participation of the Company’s officers and directors in that offering. The Marcum Agreement also contains certain mutual non-disparagement covenants, as well as certain mutual confidentiality, non-solicitation and non-compete covenants. In addition, Mr. Marcum and the Company each mutually released and discharged all known and unknown claims against the other and their respective representatives that they had or presently may have, including claims relating to Mr. Marcum’s employment. The Marcum Agreement effectively terminated the previously disclosed employment agreement entered into between Mr. Marcum and the Company, dated as of June 25, 2013.
	A summary of restricted stock grant activity for the six months ended June 30, 2014 is presented below:
		Shares
	Balance outstanding at December 31, 2013		2,024,375
	Granted		212,750
	Vested		(150,459	)
	Expired/ cancelled		(174,585	)
	Balance outstanding at June 30, 2014		1,912,081
	As of June 30, 2014, total unrecognized compensation cost related to unvested stock grants was approximately $0.58 million, which is expected to be recognized over a weighted-average remaining service period of 3 years.
	Other Compensation
	We sponsor a 401(k) savings plan. All regular full-time employees are eligible to participate. We make contributions to match employee contributions up to 5% of compensation deferred into the plan. The Company made cash contributions of $0.01 million and $0.02, respectively, for the three and six months ended June 30, 2014.

Subsequent_Events

Subsequent Events	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	NOTE 14- SUBSEQUENT EVENTS
	Separation from Employment of Robert A. Bell
	On August 1, 2014, the Company entered into a separation agreement with Robert A. Bell, its former president and chief operating officer (the “Bell Agreement”). Pursuant to the Bell Agreement, the Company paid to Mr. Bell a lump-sum payment of $100,000 in cash and issued to Mr. Bell 66,667 shares of Common Stock, in addition to satisfying the Company’s outstanding obligation to pay Mr. Bell $0.10 million in cash and issue to Mr. Bell 33,333 shares of Common Stock. The Bell Agreement also contains certain mutual covenants, and reaffirms the survival of certain confidentiality provisions contained in Mr. Bell’s employment agreement dated as of May 1, 2014 between the Company and Mr. Bell. In addition, Mr. Bell and the Company each mutually released and discharged all known and unknown claims against the other and their respective representatives that they had or presently may have, including claims relating to Mr. Bell’s employment.
	Final Settlement of Hexagon Debt
	Until September 2014, the Company was party to three separate credit agreements with Hexagon, LLC (“Hexagon”): (i) a Credit Agreement, dated as of January 29, 2010, providing for a secured term loan in the original principal amount of $4.5 million (as amended, modified, supplemented, substituted or replaced, “Credit Agreement No. 1”); (ii) a Credit Agreement, dated as of March 25, 2010, providing for a secured term loan in the original principal amount of $6.0 million (as amended, modified, supplemented, substituted or replaced, “Credit Agreement No. 2”); and (iii) a Credit Agreement, dated as of April 14, 2010, providing for a term loan in the original principal amount of $15.0 million (as amended, modified, supplemented, substituted or replaced, “Credit Agreement No. 3” and, together with Credit Agreement No. 1 and Credit Agreement No. 2, the “Credit Agreements”).
	The Credit Agreements were scheduled to mature on May 16, 2014. On May 19, 2014, the Company received extensions from Hexagon of the maturity dates under the Credit Agreements to August 15, 2014, and on May 30, 2014, the Company and Hexagon entered into an agreement providing for the settlement of all amounts outstanding under the term loans, in exchange for the issuance to Hexagon of a two-year $6.0 million unsecured 8% note and 943,208 shares of the Company’s unregistered common stock and two cash payments of $5.0 million each, the first of which was paid concurrently with execution and the second of which was to be made by August 15, 2014 (the “First Settlement Agreement”).
	The Company did not make the second $5.0 million payment on August 15, 2014, and on September 2, 2014, the Company entered into the Final Settlement Agreement with Hexagon to settle all amounts payable by the Company pursuant to the Credit Agreements. Pursuant to the Final Settlement Agreement, in exchange for full extinguishment of all amounts payable, approximately $14.8 million in principal and interest, as of June 30, 2014 pursuant to the Credit Agreements and related promissory notes, the Company assigned to Hexagon all of the Hexagon Collateral which consisted of 30,000 net acres and several economical wells which secured several Proved Development Producing reserves and several Proved Undeveloped reserves, and issued to Hexagon $2.0 million in Redeemable Preferred. The Redeemable Preferred bears a 6% dividend per annum, payable quarterly, and is redeemable at face value (plus any accrued and unpaid dividends) at any time at the Company’s option, or at Hexagon’s option upon the Company’s achievement of certain production and reserves thresholds. The Redeemable Preferred is not convertible into Common Stock or any other securities of the Company. Except as otherwise required by law, holders of the Redeemable Preferred shall not be entitled to voting rights. The Final Settlement Agreement also prohibits Hexagon from selling or otherwise disposing of any shares of Common Stock held by Hexagon until February 29, 2016. In addition, pursuant to the Final Settlement Agreement, Hexagon and the Company each mutually released and discharged all known and unknown claims against the other and their respective representatives that they had or presently may have, including claims relating to the Credit Agreements.
	Consulting Agreement with Bristol Capital
	On September 2, 2014, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Bristol Capital, LLC (“Bristol”). Pursuant to the Consulting Agreement, Bristol will assist the Company in general corporate activities including but not limited to strategic planning; management and business operations; introductions to further its business goals; provide advice and services related to the Company’s growth initiatives; and any other consulting or advisory services the Company reasonably requests that Bristol provide to the Company. The Consulting Agreement has a term of three years. In connection with the Consulting Agreement and as compensation for the services to be provided by Bristol thereunder, the Company has issued to Bristol a warrant to purchase up to 1,000,000 shares of Common Stock at an exercise price of $2.00 per share (the “Bristol Warrant”). In addition, the Company has issued to Bristol an option to purchase up to 1,000,000 shares of Common Stock at an exercise price of $2.00 per share (the “Bristol Option”). The Bristol Option is intended as an alternative to the Bristol Warrant, and will automatically terminate upon and to the extent the Bristol Warrant is exercised. Likewise, if and to the extent the Bristol Option is exercised, the Bristol Warrant will terminate. If the Company has not registered the Common Stock underlying the Bristol Warrants within six months following the execution of the Consulting Agreement, Bristol may elect to terminate the Bristol Warrant and retain the Bristol Option, or to terminate the Bristol Option and retain the Bristol Warrant, but in either case may only retain either the Warrant or the Option. In no event will Bristol have the right to exercise, in whole or in part, the Bristol Warrant and/or Bristol Option for a number of shares in excess of 1,000,000. Each of the Bristol Warrant and the Bristol Option (whichever ultimately remains outstanding) has a term of five years. The Consulting Agreement did not include any cash payment.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Summary of Significant Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying financial statements were prepared by Lilis in accordance with generally accepted accounting principles (“GAAP”) in the United States. The financial statements reflect all normal recurring adjustments which are, in the opinion of management, necessary to provide a fair statement of the results of operations and financial position.
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires us to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Management evaluates estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic and commodity price environment.
	Our most significant financial estimates are associated with our estimated proved oil and gas reserves, assessments of impairment imbedded in the carrying value of undeveloped acreage and undeveloped properties, as well as valuation of common stock used in various issuances, options and warrants, and estimated derivative liabilities.
Net Loss per Common Share	'
	Net Loss per Common Share
	Earnings (losses) per common share are computed based on the weighted average number of common shares outstanding during the period presented. Diluted earnings (losses) per share are computed using the weighted-average number of common shares outstanding plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares. Potentially dilutive securities, such as conversion derivatives and stock purchase warrants, are excluded from the calculation when their effect would be anti-dilutive. As of June 30, 2014, a total of 16,080,139 and 3,364,016 shares underlying warrants and convertible debentures, respectively, have been excluded from the diluted share calculations as they were anti-dilutive as a result of net losses incurred. Accordingly, basic shares equal diluted shares for all periods presented.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08: Presentation of Financial Statements (“Topic 205”) and Property, Plant, and Equipment (“Topic 360”): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). ASU 2014-08 changes the criteria for reporting discontinued operations while enhancing disclosures in this area and is effective for annual and interim periods beginning after December 15, 2014. Early adoption is permitted for disposals or for assets classified as held for sale that have not been reported in previously issued financial statements. We elected to early adopt ASU 2014-08 on a prospective basis, and the adoption did not have any impact on our financial statements.
	In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (“ASU 2014-09”), which creates Topic 606, Revenue from Contracts with Customers, and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, ASU 2014-09 supersedes the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts, and creates new Subtopic 340-40, Other Assets and Deferred Costs— Contracts with Customers. In summary, the core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, ASU 2014-09 requires enhanced financial statement disclosures over revenue recognition as part of the new accounting guidance. The amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and early application is not permitted. We are currently evaluating the provisions of ASU 2014-09 and assessing the impact, if any, it may have on our financial position and results of operations.

Derivatives_Tables

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2014
Derivatives [Abstract]	'
Summary of amounts of gains recognized as a result of derivative financial instruments	'
		For the				For the
		Six Months Ended				Three Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
	Realized gain on oil price hedges	$	11	$	20	$	-	$	-

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value of Financial Instruments [Abstract]	'
Summary of fair value of assets and liabilities measured at fair value	'
	June 30, 2014:
		Level 1			Level 2		Level 3			Total
	Liabilities
	Executive employment agreements compensation	$	-		$	-	$	(325	)	$	(325	)
	Convertible debentures conversion derivative liability	$	-		$	-	$	(300	)	$	(300	)
	Total liability, at fair value	$	-		$	-	$	(625	)	$	(625	)
	December 31, 2013:
		Level 1			Level 2		Level 3			Total
	Assets
	Derivative instruments	$	-		$	7	$	-		$	7
	Total assets, at fair value	$	-		$	7	$	-		$	7
	Liabilities
	Executive employment agreement	$	-		$	-	$	(145	)	$	(145	)
	Convertible debentures conversion derivative liability	$	-		$	-	$	(1,150	)	$	(1,150	)
	Total liability, at fair value	$	-		$	-	$	(1,295	)	$	(1,295	)
Summary of changes in fair value of Level 3 financial assets and liabilities	'
	Beginning balance, December 31, 2013	$	(1,295	)
	Executive compensation liability		(180	)
	Convertible debentures conversion derivative gain		850
	Ending balance, June 30, 2014	$	(625	)

Loan_Agreements_Tables

Loan Agreements (Tables)	6 Months Ended
	Jun. 30, 2014
Loan Agreements [Abstract]	'
Schedule of notes payable	'
	thousands, except percentages)	June 30,						December 31,
		2014						2013
		Debt			Interest			Debt			Interest
					Rate						Rate
	10% Term Notes, maturity August 15, 2014 (2)(3)	$	14,800			10	%	$	18,774			10	%
	8% Convertible Debentures, maturity January 15, 2015 (1)(4)(5)		6,728			8	%		15,580			8	%
	Total		21,528						34,354
	Unamortized discount		(98	)					(993	)
	Total debt, net of discount		21,430						33,361
	Less: amount due within one year		(6,630	)					(10,663	)
	Long-term debt due after one year	$	14,800					$	22,698
	(1) The Debentures contain cross collateralization and cross default provisions and are collateralized by mortgages against the majority of the Company’s developed and undeveloped leasehold acreage. In accordance with the cross-default provision under the Debentures, as of August 15, 2014 the Company was in default due to its default under the Hexagon term loans. In October 2014, the Debenture holders waived their right to declare a default on that basis. The Debentures mature in January 2015. (See Note 14 - Subsequent Events.)
	(2) The Hexagon loan agreements contained certain non-financial covenants, with which the Company was in substantial compliance as of June 30, 2014.
	(3) Amount represents three separate loan agreements with Hexagon in January, March and April 2010, each of which contained a cross-default provision and which together were secured by a significant amount of the Company’s developed and undeveloped leasehold acreage. On September 2, 2014, the Company entered into the Final Settlement Agreement, pursuant to which the Company assigned the Hexagon Collateral to Hexagon and issued to Hexagon an additional $2 million in 6% Redeemable Preferred. As a result, the Hexagon loan obligations were deemed satisfied, and Hexagon released the related mortgages. Therefore, the loan obligations are classified as a long-term liability for the period ended June 30, 2014. (See Note 14 -Subsequent Events.)
	(4) Debentures are convertible at any time at the holders' option into shares of Common Stock at $2.00 per share. The balance of the Debentures may be converted to Common Stock on the terms provided in the Conversion Agreement (including the terms related to the warrants); subject to receipt of shareholder approval as required by NASDAQ continued listing requirements.
	(5) Interest payments have historically been paid in Common Stock; interest is calculated at an annualized rate of 8% and is payable quarterly on each May 15, August 15, November 15 and February 15 in cash or, at the Company's option (subject to certain conditions), in shares of Common Stock, valued at 95% of the volume weighted average price of the Common Stock for the 10 trading days prior to an interest payment date.

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Summary of warrant activity	'
		Warrants		Weighted-
				Average
				Exercise
				Price
	Outstanding at December 31, 2013		6,773,913	$	4.4
	Granted-January 2014 private placement		3,012,500		2.5
	Granted-debenture conversion agreement		4,500,011		2.5
	Granted –May 2014 preferred private placement		1,556,017		2.89
	Granted-other		663,840		2.88
	Exercised, forfeited, or expired		-		-
	Outstanding at June 30, 2014		16,506,281	$	3.33

Preferred_Stock_Tables

Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2014
Equity [Abstract]	'
Schedule of primary characteristics of the Series A Preferred	'
	Total shares outstanding as of June 30, 2014		7,500
	Conversion price	$	2.41
	Shares of Common Stock issuable upon conversion		3,112,033
	Warrants issued		1,556,017
	Fees paid to placement agent	$	706,000
	Aggregate value of warrants issued (1)	$	1,321,526
	Beneficial conversion feature (2)	$	1,539,369
	(1) The intrinsic value of the warrant was calculated at $1.60 million utilizing the Black Scholes Lattice Model. The gross proceeds of $7,500,000 were allocated to the preferred stock and the warrants on a relative fair value basis, resulting in an allocation to the warrants of $1,321,526.
	(2) The Company considered the beneficial ownership features of the Series A Preferred shares and determined that since the conversion price is $2.41 along with a detachable warrant, the Company recorded a beneficial conversion feature of $1.54 million, after considering the discount resulting from the proceeds allocated to the warrants.

Share_Based_and_Other_Compensa1

Share Based and Other Compensation (Tables)	6 Months Ended
	Jun. 30, 2014
Share Based and Other Compensation [Abstract]	'
Summary of stock options activity	'
		Stock
		Options
	Outstanding at December 31, 2013		3,800,000
	Granted		1,500,000
	Exercised, forfeited, or expired		(400,000	)
	Outstanding at June 30, 2014		5,100,000
Summary of restricted stock grant activity	'
		Shares
	Balance outstanding at December 31, 2013		2,024,375
	Granted		212,750
	Vested		(150,459	)
	Expired/ cancelled		(174,585	)
	Balance outstanding at June 30, 2014		1,912,081

Organization_Details

Organization (Details)	Jun. 30, 2014
	acre
Organization (Textual)	'
Area of land for crude oil and natural gas (In acres)	84,000

Liquidity_Details

Liquidity (Details) (USD $)

6 Months Ended

0 Months Ended

0 Months Ended

4 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Aug. 14, 2014

Jun. 30, 2014

Jun. 06, 2014

Apr. 30, 2010

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Jun. 06, 2014

30-May-14

30-May-14

Nov. 24, 2014

Officers and Directors [Member]

Hexagon, LLC [Member]

T.R. Winston [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

8% Senior Secured Convertible Debentures [Member]

8% Senior Secured Convertible Debentures [Member]

8% Senior Secured Convertible Debentures [Member]

Hexagon Replacement Note [Member]

Hexagon Replacement Note [Member]

Series A 8% Convertible Preferred Stock [Member]

Subsequent Event [Member]

Well

Liquidity (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of warrants

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'

Debenture outstanding

$21,528

$34,354

'

'

'

'

'

$6,930,000

$15,580,000

$13,400,000

'

'

'

$6,930,000

Term loan outstanding

'

'

'

14,800,000

'

'

14,800,000

'

'

'

'

'

'

'

Term loans and Debentures maturity date

16-May-14

'

'

'

'

1-Dec-10

15-Aug-14

15-Jan-15

'

'

15-Jan-15

'

'

15-Jan-15

Debt interest rate, Percentage

'

'

'

'

'

'

0.23%

8.00%

'

'

'

8.00%

8.00%

'

Purchase of additional preferred stock

'

'

'

'

15,000,000

'

'

'

'

'

'

'

'

'

Proceeds from preferred stock

5,650,000

'

350,000

'

'

'

'

'

'

'

'

'

7,500,000

'

Conversion of preferred stock

'

'

'

'

'

'

'

'

'

'

'

'

'50

'

Cash on hand

1,449,152

165,365

'

'

'

'

'

'

'

'

'

'

'

1,000,000

Working capital

'

'

'

'

'

'

'

'

'

'

'

'

'

8,250,000

Accrued liabilities for convertible debenture interest

'

'

'

'

'

'

'

'

'

'

'

'

'

$500,000

Number of economically producing wells

'

'

'

'

'

'

'

'

'

'

'

'

'

8

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details)	6 Months Ended
	Jun. 30, 2014
Warrant [Member]	'
Summary of Significant Accounting Policies (Textual)	'
Total anti-dilutive shares	16,080,139
Convertible Debt Securities [Member]	'
Summary of Significant Accounting Policies (Textual)	'
Total anti-dilutive shares	3,364,016

Preferred_Stock_Subscription_R1

Preferred Stock Subscription Receivable (Details) (USD $)	1 Months Ended		1 Months Ended
	Feb. 28, 2011	Jun. 30, 2014	31-May-14	Sep. 30, 2014
			Series A Preferred Stock [Member]	Preferred Stock [Member]
				Subsequent Event [Member]
Percentage on dividends payable	'	'	8.00%	'
Preferred stock subscriptions receivable	'	$1,853,000	'	'
Series A Convertible Preferred Stock, Term	'	'	'The Company consummated a private placement to accredited investors of its Series A 8% Convertible Preferred Stock (the ''Series A Preferred') and three-year warrants to purchase Common Stock equal to 50% of the number of shares issuable upon full conversion of the Series A Preferred, for gross proceeds of $7.50 million (the ''May 2014 Private Placement'').	'
Proceeds from private placement	$8,400,000	'	$7,500,000	$7,500,000

Oil_and_Gas_Properties_Details

Oil and Gas Properties (Details) (USD $)	Jun. 30, 2014	Apr. 30, 2014	Dec. 31, 2013	Sep. 02, 2014	Sep. 02, 2014
				Hexagon [Member]	DJ Basin [Member]
				Subsequent Event [Member]	Subsequent Event [Member]
				acre	acre
Oil and Gas Properties (Textual)	'	'	'	'	'
Wells-in progress, Oil and gas	$5,903,307	$470,000	$1,145,794	'	'
Producing wells net acres	'	'	'	30,000	84,000

Wells_in_Progress_Details

Wells in Progress (Details) (USD $)	Jun. 30, 2014	Apr. 30, 2014	Dec. 31, 2013
Wells in Progress (Textual)	'	'	'
Wells-in progress, Oil and gas	$5,903,307	$470,000	$1,145,794
Accrued costs from wells in progress	$500,000	'	'

Derivatives_Details

Derivatives (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Summary of amounts of gains (losses) recognized as a result of derivative financial instruments	'	'	'	'
Realized gain on oil price hedges	'	'	$11	$20

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets	'	'
Derivative instruments	'	$7
Total assets, at fair value	'	7
Liability	'	'
Executive employment agreement compensation	-325	-145
Convertible debentures conversion derivative liability	-300	-1,150
Total liability, at fair value	-625	-1,295
Level 1 [Member]	'	'
Assets	'	'
Derivative instruments	'	'
Total assets, at fair value	'	'
Liability	'	'
Executive employment agreement compensation	'	'
Convertible debentures conversion derivative liability	'	'
Total liability, at fair value	'	'
Level 2 [Member]	'	'
Assets	'	'
Derivative instruments	'	7
Total assets, at fair value	'	7
Liability	'	'
Executive employment agreement compensation	'	'
Convertible debentures conversion derivative liability	'	'
Total liability, at fair value	'	'
Level 3 [Member]	'	'
Assets	'	'
Derivative instruments	'	'
Total assets, at fair value	'	'
Liability	'	'
Executive employment agreement compensation	-325	-145
Convertible debentures conversion derivative liability	-300	-1,150
Total liability, at fair value	($625)	($1,295)

Fair_Value_of_Financial_Instru3

Fair Value of Financial Instruments (Details 1) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2012
Summary of changes in fair value of Level 3 financial assets and liabilities	'	'
Beginning balance, December 31, 2013	($1,295)	($1,680)
Executive compensation liability	-180	'
Convertible debentures conversion derivative gain	850	'
Ending balance, March 31, 2014	($625)	($1,680)

Fair_Value_of_Financial_Instru4

Fair Value of Financial Instruments (Details Textual) (USD $)

1 Months Ended

6 Months Ended

1 Months Ended

Feb. 28, 2011

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Jun. 30, 2014

30-May-14

Jan. 31, 2014

Jan. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2012

Jan. 31, 2014

Private Placement [Member]

Private Placement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Convertible Debt [Member]

Convertible Debt [Member]

Convertible Debt [Member]

Chief Executive Officer [Member]

Fair Value of Financial Instruments (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate on term loan

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

Convertible debenture interest percentage

'

8.00%

'

'

'

'

'

'

'

'

'

'

'

Convertible debentures issued through private placement

'

'

'

'

'

'

'

'

'

'

'

'

$220,000

Maturity period of senior secured convertible debentures

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

Additional convertible debentures issued

'

'

2,200,000

5,000,000

'

'

'

'

'

'

'

'

'

Debentures outstanding, total

'

21,528

34,354

'

'

'

'

'

'

6,930,000

15,580,000

13,400,000

'

Debentures, convertible, conversion price (per share)

'

$2

'

'

'

'

'

$2

$2

'

'

'

'

Proceeds from private placement

8,400,000

'

'

'

5,650,000

'

'

'

'

'

'

'

'

Common stock, par value (In dollars per share)

'

$0.00

$0.00

'

'

$7.50

'

$0.00

'

'

'

'

'

Warrants exercise price, per share

'

'

'

'

'

'

$2.50

'

'

'

'

'

'

Conversion of debt, Amount

'

'

'

'

'

'

'

$9,000,000

'

'

'

'

'

Loan_Agreements_Details

Loan Agreements (Details) (USD $)	6 Months Ended
	Jun. 30, 2014		Jun. 30, 2013		Dec. 31, 2013
Debt Instrument [Line Items]	'		'		'
Total	$21,528		'		$34,354
Unamortized discount	-98		'		-993
Total debt, net of discount	21,430		'		33,361
Less: amount due within one year	-6,630		'		-10,663
Long-term debt due after one year	14,800		'		22,698
10% Term Notes, maturity August 15, 2014 (2)(3) [Member]	'		'		'
Debt Instrument [Line Items]	'		'		'
Total	14,800	[1],[2]	'		18,774	[1],[2]
Interest Rate	10.00%	[1],[2]	10.00%	[1],[2]	'
8% Convertible Debentures, due January 15, 2015 (1)(4)(5) [Member]	'		'		'
Debt Instrument [Line Items]	'		'		'
Total	$6,728	[3],[4],[5]	15,580	[3],[4],[5]	'
Interest Rate	8.00%	[3],[4],[5]	8.00%	[3],[4],[5]	'
[1]	The Hexagon loan agreements contained certain non-financial covenants, with which the Company was in substantial compliance as of June 30, 2014.
[2]	Amount represents three separate loan agreements with Hexagon in January, March and April 2010, each of which contained a cross-default provision and which together were secured by a significant amount of the Company's developed and undeveloped leasehold acreage. On September 2, 2014, the Company entered into the Final Settlement Agreement, pursuant to which the Company assigned the Hexagon Collateral to Hexagon and issued to Hexagon an additional $2 million in 6% Redeemable Preferred. As a result, the Hexagon loan obligations were deemed satisfied, and Hexagon released the related mortgages. Therefore, the loan obligations are classified as a long-term liability for the period ended June 30, 2014. (See Note 14 -Subsequent Events.)
[3]	The Debentures contain cross collateralization and cross default provisions and are collateralized by mortgages against the majority of the Company's developed and undeveloped leasehold acreage. In accordance with the cross-default provision under the Debentures, as of August 15, 2014 the Company was in default due to its default under the Hexagon term loans. In October 2014, the Debenture holders waived their right to declare a default on that basis. The Debentures mature in January 2015. (See Note 14 - Subsequent Events.)
[4]	Debentures are convertible at any time at the holders' option into shares of Common Stock at $2.00 per share. The balance of the Debentures may be converted to Common Stock on the terms provided in the Conversion Agreement (including the terms related to the warrants); subject to receipt of shareholder approval as required by NASDAQ continued listing requirements.
[5]	Interest payments have historically been paid in Common Stock; interest is calculated at an annualized rate of 8% and is payable quarterly on each May 15, August 15, November 15 and February 15 in cash or, at the Company's option (subject to certain conditions), in shares of Common Stock, valued at 95% of the volume weighted average price of the Common Stock for the 10 trading days prior to an interest payment date.

Loan_Agreements_Details_Textua

Loan Agreements (Details Textual) (USD $)

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

4 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2013

Apr. 30, 2013

Aug. 31, 2012

Mar. 19, 2012

Mar. 31, 2012

Feb. 28, 2011

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Sep. 08, 2012

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Nov. 24, 2014

19-May-14

Jun. 30, 2014

30-May-14

Apr. 30, 2010

Jun. 30, 2014

Jun. 01, 2014

Jun. 06, 2014

Jun. 06, 2014

30-May-14

Jun. 30, 2014

30-May-14

Jan. 31, 2014

Jan. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2011

Dec. 31, 2011

acre

acre

Loans Payable [Member]

Placement Agent [Member]

Placement Agent [Member]

Placement Agent [Member]

Subsequent Event [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Replacement Note [Member]

Hexagon Replacement Note [Member]

Hexagon Replacement Note [Member]

8% Convertible Preferred Stock Agreement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Conversion Agreement [Member]

Maximum [Member]

Minimum [Member]

TradingDays

First Cash Payment [Member]

Second Cash Payment [Member]

Loan Agreements (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Annual interest rate on loan (in percentage)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8.00%

15.00%

'

'

'

'

'

'

'

8.00%

'

'

'

'

'

'

'

Principal and interest payments per month

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$90,000

'

'

'

'

'

$90,000

'

'

'

'

'

'

'

'

'

'

Acres of undeveloped acreage

'

'

'

'

'

'

30,000

'

30,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument principal amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

14,800,000

'

'

14,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Extended maturity date of loan agreements

'

16-May-14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15-Aug-14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maturity date of loan

'

'

'

'

'

'

'

'

16-May-14

'

'

'

'

'

'

'

15-Jan-15

'

'

'

1-Dec-10

15-Aug-14

'

'

15-Jan-15

'

'

'

'

'

'

'

'

'

'

'

Unsecured note issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000,000

'

'

'

'

'

'

'

'

'

'

Unsecured note, term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

'

'

'

'

'

'

'

'

'

Repayment of debt

'

'

'

'

'

'

'

'

5,081,213

44,368

'

'

'

'

'

'

'

'

5,000,000

5,000,000

'

5,000,000

5,000,000

5,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Unregistered shares of common stock issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

943,208

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional warrants common stock, shares issued

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000

'

'

'

'

'

'

'

'

'

Average trading volume per day

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of trading days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan repayment terms

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'The parties have also agreed that if the Second Cash Payment is not made by June 30, 2014, an additional $1.0 million in principal will be added to the Replacement Note, and if the Replacement Note is not retired by December 31, 2014, the Company will issue an additional 1.0 million shares of its common stock to Hexagon.

'

'

'

'

'

'

'

'

'

'

'

'

'Utilizing a Lattice model, with a 3 year life and 65% volatility, the Company recorded an inducement expense of $6.61 million, for the three months ended March 31, 2014, for the warrants issued to induce the convertible debentures to convert their debt to common stock and a warrant. T.R. Winston acted as the investment banker for the Conversion agreement and was compensation 8% of the $9.0 million which was payable in common stock and valued at a market rate of $3.05 per share.

'

'

'

Maximum number of shares transfer for value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan agreement amount outstanding

'

'

'

'

'

'

21,528

'

21,528

'

34,354

'

'

'

'

'

6,930,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of separate loan agreements

'

'

'

'

'

'

'

'

'3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage on dividends payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of warrants

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

Placement agent expenses

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

40,000

'

'

'

'

'

'

'

'

'

'

'

'

690,000

'

'

'

'

'

'

'

Term loan outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

14,800,000

'

'

14,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Conversion of common stock, Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

18,770,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,730,000

'

'

'

Deferred financing cost and amortized over the remaining term of the loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

250,000

120,000

'

'

120,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Warrants exercise price, per share

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$2.50

'

'

'

'

'

'

'

Aggregate additional debentures to be issued as per agreement

'

5,000,000

'

5,000,000

'

'

'

'

'

'

430,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional debentures to be issued

'

'

'

'

'

'

'

'

'

'

2,210,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Senior Secured Convertible Debentures, interest rate, stated percentage

'

'

'

'

'

'

8.00%

'

8.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debentures, convertible, conversion price (per share)

'

'

'

'

'

'

$2

'

$2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$2

$2

'

$2

'

$9.40

$4.25

Description of interest payment on debentures other than cash

'

'

'

'

'

'

'

'

'Interest is calculated at an annualized rate of 8% and is payable quarterly on each May 15, August 15, November 15 and February 15 in cash or, at the Company's option (subject to certain conditions), in shares of Common Stock, valued at 95% of the volume weighted average price of the Common Stock for the 10 trading days prior to an interest payment date.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional supplemental debenture offering to secure funding

'

'

1,960,000

'

'

'

'

'

'

'

2,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proportionately reduced net profits interest rate

15.00%

'

15.00%

5.00%

5.00%

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount of deferred financing costs to be amortized

'

'

'

'

'

40,000

'

'

30,000

30,000

10,000

'

'

'

10,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortization Expenses

'

'

'

'

'

'

'

'

10,000

'

20,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Description of amortization period of deferred financing cost

'

'

'

'

'

'

'

'

'Through May 2014

'

'Through May 2014

'

'

'

'Through January 2015.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debentures interest rate, Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.23%

'

'

0.23%

'

'

'

8.00%

'

8.00%

'

'

'

'

'

'

'

'

Estimated derivative liability

'

'

'

'

'

'

'

'

'

'

1,150,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000

'

300,000

1,150,000

'

'

Estimate of inducement expense

'

'

'

'

'

'

0

'

0

'

1,150,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,610,000

'

'

'

'

'

'

'

Value of Shares issued by company to T.R. Winston & Company LLC for acting as placement agent of supplemental debentures

'

'

'

'

'

'

'

'

'

'

40,000

230,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Additional Value Of Shares Issued By Company To Acting As Placement Agent Of Supplemental Debentures

'

'

'

'

'

'

'

'

'

'

2,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Non-cash interest expense and amortization of the deferred financing costs

'

'

'

'

'

'

1,470,000

1,040,000

1,050,000

1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

600,000

1,000,000

'

'

'

'

Debt conversion additional amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,600

'

'

'

'

'

'

'

Amortization of deferred financing costs

'

'

'

'

'

'

'

'

134,398

354,493

'

'

70,000

10,000

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Expense

'

'

'

'

'

'

1,953,127

1,669,519

3,469,458

3,305,678

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

600,000

1,000,000

'

'

'

'

Additional Redeemable Preferred Share

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt instrument interest and principal amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.23

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Forbearance fee

'

'

'

'

'

'

'

'

120,000

'

'

'

'

'

'

'

'

'

'

'

'

250,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Deffered financing cost.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

120,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Convertible debentures payable discount

'

'

'

'

'

'

'

'

230,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash interest increase due to forbearance

'

'

'

'

'

'

'

'

250,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Conversion of debt, Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

9,000,000

'

'

'

'

'

'

Debentures, convertible, conversion price (per share)

'

'

'

'

'

'

$2

'

$2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$2

$2

'

$2

'

$9.40

$4.25

Share Price

'

'

'

'

'

'

$2

'

$2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accured interest for term loan

'

'

'

'

'

'

'

'

$1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shareholders_Equity_Details

Shareholders' Equity (Details) (Warrant [Member], USD $)	6 Months Ended
	Jun. 30, 2014
Summary of warrant activity	'
Outstanding Beginning	6,773,913
Granted-other	663,840
Exercised, forfeited, or expired	'
Outstanding Ending	16,506,281
Weighted Average Exercise Price, Outstanding Beginning	$4.40
Weighted Average Exercise Price, Granted - Other	$2.88
Weighted Average Exercise Price, Exercised, forfeited, or expired	'
Weighted Average Exercise Price, Outstanding Ending	$3.33
January private placement [Member]	'
Summary of warrant activity	'
Granted	3,012,500
Weighted Average Exercise Price, Granted	$2.50
Preferred Private Placement [Member]	'
Summary of warrant activity	'
Granted	1,556,017
Weighted Average Exercise Price, Granted	$2.89
Debenture conversion agreement [Member]	'
Summary of warrant activity	'
Granted	4,500,011
Weighted Average Exercise Price, Granted	$2.50

Shareholders_Equity_Details_Te

Shareholders' Equity (Details Textual) (USD $)

6 Months Ended

12 Months Ended

6 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

6 Months Ended

6 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

30-May-14

Jun. 30, 2014

Jun. 30, 2013

30-May-14

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Preferred Stock [Member]

Conversion Agreement [Member]

8% Convertible Preferred Stock Agreement [Member]

Consulting Agreement [Member]

Consulting Agreement [Member]

Private Placement [Member]

Series A Convertible Preferred Stock [Member]

T R Winston Company LLC [Member]

T R Winston Company LLC [Member]

Restricted Stock [Member]

Warrant [Member]

Convertible Debenture [Member]

Debenture Conversion Agreement [Member]

Private Placement [Member]

Employees, Board Members and Consultants [Member]

Private Placement [Member]

Shareholder's Equity (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares authorized

100,000,000

100,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, shares authorized

10,000,000

10,000,000

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares issued

27,513,566

19,671,901

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares outstanding

27,513,566

19,671,901

'

'

'

'

'

'

'

'

'

'

'

'

Preferred Stock, Shares Issued

7,500

'

'

'

'

'

'

7,500

'

'

'

'

'

'

Preferred Stock, shares outstanding

7,500

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock issued in connection with debenture conversion agreement

'

'

'

3,037,500

'

'

'

'

'

'

'

'

'

'

Restricted shares issued

'

'

'

229,150

'

90,000

'

'

'

'

'

7,863,166

'

'

Shares issued as compensation

'

'

7,500

'

'

'

'

'

'

'

'

'

'

'

Shares issued as compensation value

'

'

'

$250,000

'

'

'

'

'

$450,000

'

'

'

'

Purchase of common stock warrant

'

'

'

'

'

'

'

1,167,013

'

'

'

'

'

'

Common Stock Value Issued Additional

'

'

'

4,500,000

'

'

'

'

'

'

'

'

'

'

Warrants issued

'

'

'

'

'

350,000

'

'

'

'

'

'

'

'

Warrants issued value

'

'

'

'

'

280,000

'

'

'

'

'

'

'

'

Warrants exercise price

'

'

'

'

'

'

'

$2.89

'

'

'

'

'

'

Conversion of common stock, Amount

'

'

'

6,730,000

'

'

'

'

'

9,000,000

'

'

'

'

Debt interest rate, Percentage

'

'

'

'

8.00%

'

'

'

8.00%

5.00%

8.00%

'

8.00%

'

Weighted average remaining contractual life (in years)

'2 years 1 month 28 days

'1 year 6 months 22 days

'

'

'

'

'

'

'

'

'

'

'

'

Non cash debenture interest

'

'

'

'

'

'

'

'

'

'

'

'

'

340,000

Restricted stock expense

'

'

'

'

'

'

410,000

'

'

'

'

'

'

'

Aggregate value of warrants issued

'

'

'

'

'

'

'

$7,500,000

'

'

'

'

'

'

Preferred_Stock_Details

Preferred Stock (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	30-May-14	Jun. 30, 2014
			Series A Preferred Stock [Member]	Series A Preferred Stock [Member]
Class of Stock [Line Items]	'	'	'	'
Total shares outstanding as of June 30, 2014	7,500	'	7,500	7,500
Debentures, convertible, conversion price (per share)	$2	'	$2.41	$2.41
Shares of Common Stock issuable upon conversion	'	'	'	3,112,033
Warrants issued	'	'	'	1,556,017
Fees paid to placement agent	'	'	'	$706,000
Aggregate value of warrants issued (1)	'	'	7,500,000	1,321,526	[1]
Beneficial conversion feature (2)	'	'	'	$1,539,369	[2]
[1]	(1) The intrinsic value of the warrant was calculated at $1.60 million utilizing the Black Scholes Lattice Model. The gross proceeds of $7,500,000 were allocated to the preferred stock and the warrants on a relative fair value basis, resulting in an allocation to the warrants of $1,321,526.
[2]	The Company considered the beneficial ownership features of the Series A Preferred shares and determined that since the conversion price is $2.41 along with a detachable warrant, the Company recorded a beneficial conversion feature of $1.54 million, after considering the discount resulting from the proceeds allocated to the warrants

Preferred_Stock_DetailsTextual

Preferred Stock (DetailsTextual) (USD $)	1 Months Ended	6 Months Ended		1 Months Ended	6 Months Ended	1 Months Ended		6 Months Ended
	Feb. 28, 2011	Jun. 30, 2014	Dec. 31, 2013	30-May-14	Jun. 30, 2014	30-May-14	31-May-14	Jun. 30, 2014
				Private Placement [Member]	Private Placement [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]
Preferred Stock Textual [Abstract]	'	'	'	'	'	'	'	'
Preferred Stock, shares outstanding	'	7,500	'	'	'	7,500	'	7,500
Purchase of common stock warrant	'	'	'	1,167,013	'	1,167,013	'	'
Warrants exercise price	'	'	'	$2.89	'	$2.89	'	'
Aggregate value of warrants issued	'	'	'	$7,500,000	'	$7,500,000	'	$1,321,526	[1]
Preferred stock, par value (In dollars per share)	'	$0.00	$0.00	'	'	$0.00	'	'
Preferred stock, value stated rate	'	1,000	1,000	'	'	1,000	'	'
Debentures, convertible, conversion price (per share)	'	$2	'	'	'	$2.41	'	$2.41
Debt interest rate, Percentage	'	'	'	'	'	8.00%	'	'
Convertiable preferred stock, Description	'	'	'	'	'	'The Series A Preferred is convertible at any time at the option of the holders, or at the Company's discretion when Common Stock trades above $7.50 for ten consecutive days with a daily dollar trading volume above $300,000	'	'
Proceeds from private placement	8,400,000	'	'	'	5,650,000	'	7,500,000	'
Debt instrument, Fee amount	'	'	'	'	710,000	'	'	'
Proceeds from debt, Net of issuance costs	'	'	'	'	4,940,000	'	'	'
Accretion expense	'	'	'	'	1,540,000	'	'	'
Preferred stock subscriptions receivable	'	'	'	'	1,850,000	'	'	'
Warrants issued value	'	'	'	'	'	'	'	1,600,000
Beneficial conversion feature	'	'	'	'	'	'	'	1,539,369	[2]
Fair value adjustment of warrants	'	7,500,000	'	'	'	'	'	'
Gross proceeds from preferred stock	'	1,321,526	'	'	'	'	'	'
Cumulative dividends	'	$400,000	'	'	'	'	'	'
[1]	(1) The intrinsic value of the warrant was calculated at $1.60 million utilizing the Black Scholes Lattice Model. The gross proceeds of $7,500,000 were allocated to the preferred stock and the warrants on a relative fair value basis, resulting in an allocation to the warrants of $1,321,526.
[2]	The Company considered the beneficial ownership features of the Series A Preferred shares and determined that since the conversion price is $2.41 along with a detachable warrant, the Company recorded a beneficial conversion feature of $1.54 million, after considering the discount resulting from the proceeds allocated to the warrants

Share_Based_and_Other_Compensa2

Share Based and Other Compensation (Details) (Employee Stock Option [Member])	6 Months Ended
	Jun. 30, 2014
Employee Stock Option [Member]	'
Summary of stock options activity	'
Outstanding Beginning	3,800,000
Granted	1,500,000
Exercised, forfeited, or expired	-400,000
Outstanding Ending	5,100,000

Share_Based_and_Other_Compensa3

Share Based and Other Compensation (Details 1) (Restricted Stock [Member])	6 Months Ended
	Jun. 30, 2014
Restricted Stock [Member]	'
Summary of restricted stock grant activity	'
Beginning Balance	2,024,375
Granted	212,750
Vested	-150,459
Expired/ cancelled	-174,585
Ending Balance	1,912,081

Share_Based_and_Other_Compensa4

Share Based and Other Compensation (Details Textual) (USD $)

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

6 Months Ended

1 Months Ended

0 Months Ended

6 Months Ended

1 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Oct. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2014

31-May-14

Apr. 30, 2014

Jun. 30, 2014

31-May-14

Jun. 30, 2014

Nov. 13, 2013

Jun. 27, 2013

Jun. 30, 2014

Nov. 13, 2013

Jun. 27, 2013

Apr. 15, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Employees [Member]

Employees [Member]

Independent Directors [Member]

Independent Directors [Member]

Independent Directors [Member]

Employment Agreement [Member]

Employment Agreement [Member]

Employment Agreement [Member]

Employment Agreement [Member]

Employment Agreement [Member]

Employment Agreement [Member]

Employment Agreement [Member]

Severance Agreement [Member]

Severance Agreement [Member]

Severance Agreement [Member]

Severance Agreement [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Equity Incentive Plan [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Restricted Stock [Member]

Stock Option [Member]

Stock Option [Member]

Chief Financial Officer [Member]

Chief Executive Officer [Member]

Mr. Mirman [Member]

Chief Financial Officer [Member]

Chief Executive Officer [Member]

Chief Executive Officer [Member]

Mr. Marcum And Mr. Gabbard [Member]

Maximum [Member]

Maximum [Member]

Maximum [Member]

Minimum [Member]

Minimum [Member]

Minimum [Member]

Employees and Directors [Member]

Employment Agreement [Member]

Share Based and Other Compensation (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase number of common stock available for grant under the EIP

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,800,000

1,800,000

'

1,800,000

900,000

'

'

'

'

'

Increase number of common stock available for grant under the EIP for single participant

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,000,000

'

'

1,000,000

'

'

'

'

'

'

'

Grant of restricted shares to employees, former chief financial officer during the period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

212,750

229,150

'

'

Stock options granted to employees

'

'

'

'

600,000

'

'

'

600,000

'

650,000

300,000

300,000

2,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000

'

Restricted common stock and stock options forfeited in connection with termination of employees, directors and consultants

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

400,000

'

'

Compensation expense

$200,000

'

'

'

'

$50,000

$110,000

'

'

'

$30,000

'

'

'

'

'

$150,000

'

'

'

'

'

'

'

'

$110,000

'

'

$1,290,000

Employer matching contribution, Percentage

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash contributions to employees plan

'

'

10,000

20,000

'

'

'

'

'

'

'

'

'

30,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of shares vested

'

'

'

'

'

'

'

'

'

'

'

100,000

100,000

600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of shares expected to vest

'

'

'

'

'

'

'

'

'

'

'

200,000

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unvested option

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Unvested option value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

70,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Vested option reissued, Shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Vested option reissued, Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

410,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Unvested option forfeited, Shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unvested option forfeited, Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

80,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unvested common stock, Shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

68,750

'

'

'

'

'

'

'

-174,585

'

'

'

Unvested common stock, Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000

'

'

'

'

'

'

'

'

'

'

'

Vesting period

'

'

'

'

'

'

'

'

'

'

'

'2 years

'2 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price

'

'

'

'

$2.05

'

'

'

$1.60

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Remaining term

'2 years 1 month 28 days

'1 year 6 months 22 days

'

'

'

'

'

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fair value of shares granted

'

'

'

'

640,000

'

'

'

520,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortization expense

'

'

'

'

'

'

'

'

'

130,000

250,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized non cash compensation expense

'

'

'

'

'

'

'

'

'

250,000

250,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share based compensation, Shares

'

'

'

'

'

'

'

'

'

'

93,750

'

'

'

'

'

93,750

'

'

'

'

'

'

'

'

'

'

'

1,500,000

Recognized non cash compensation expense

'

'

'

'

'

'

'

'

'

'

270,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Bonus payment description

'

'

'

'

'

'

'

'

'

'

'

'

'

'Mr. Mirman's initial date of employment through December 31, 2015, may result in a cash bonus payment to Mr. Mirman of up to 3.0 times his base salary.

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'During the three months ended June 30, 2014, the Company recorded an expense for the incentive bonus of $0.07 million, and recorded a liability for the incentive bonus of $0.30 million as of June 30, 2014.

Share Price

$2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Employment term

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Description of equity incentive bonus of continued employment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mr. Bell would receive an equity incentive bonus consisting of a non-statutory stock option to purchase up to 1,500,000 shares of Common Stock subject to Mr. Bell’s continued employment and the Company’s achievement of certain pre-defined production thresholds.

Issue of shares to director

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

31,250

'

'

'

'

Additional Share Based Compensation (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation cost, non-vested stock grants

$580,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized compensation cost, non-vested stock grants, period for recognition (in years)

'3 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

1 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

4 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

Apr. 30, 2013

Feb. 28, 2011

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

19-May-14

Jun. 30, 2014

30-May-14

Apr. 30, 2010

Jun. 30, 2014

Jun. 01, 2014

Jun. 06, 2014

Jun. 06, 2014

30-May-14

Jun. 30, 2014

Apr. 14, 2010

Mar. 25, 2010

Jan. 29, 2010

Nov. 24, 2014

Aug. 01, 2014

Sep. 02, 2014

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Settlement Agreement [Member]

Hexagon Replacement Note [Member]

Hexagon Replacement Note [Member]

Hexagon, LLC [Member]

Hexagon, LLC [Member]

Hexagon, LLC [Member]

Hexagon, LLC [Member]

Subsequent Event [Member]

Subsequent Event [Member]

Subsequent Event [Member]

First Cash Payment [Member]

Second Cash Payment [Member]

Separate Credit Agreements [Member]

Separate Credit Agreements [Member]

Separate Credit Agreements [Member]

Separation Agreement [Member]

Bristol Capital, Llc [Member]

Mr. Bell [Member]

Consulting Agreement [Member]

Subsequent Events (Textual)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Share based compensation, Shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

66,667

'

Share-based compensation, Cash

'

'

$200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$100,000

'

Additional share based compensation, Shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

33,333

'

Additional share based compensation, Cash

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000

'

Secured term loan in original principal amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,000,000

6,000,000

4,500,000

'

'

'

Extended maturity date of loan agreements

16-May-14

'

'

'

'

15-Aug-14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maturity date of loan

'

'

16-May-14

'

'

'

'

'

1-Dec-10

15-Aug-14

'

'

15-Jan-15

'

'

'

'

'

15-Jan-15

'

'

Unsecured note issued

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000,000

'

'

'

'

'

'

'

Debt instrument, term

'

'

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

'

'

'

'

'

'5 years

Debt interest rate, Percentage

'

'

'

'

'

'

0.23%

'

'

0.23%

'

'

'

8.00%

'

'

'

'

'

'

'

Unregistered shares of common stock issued

'

'

'

'

'

'

'

943,208

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayment of debt

'

'

5,081,213

44,368

'

'

5,000,000

5,000,000

'

5,000,000

5,000,000

5,000,000

'

'

'

'

'

'

'

'

'

Term loan outstanding

'

'

'

'

'

'

14,800,000

'

'

14,800,000

'

'

'

'

14,800,000

'

'

'

'

'

'

Amount of deferred financing costs to be amortized

'

40,000

30,000

30,000

10,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage on dividends payable

'

'

'

'

'

'

'

'

'

6.00%

'

'

'

'

'

'

'

'

'

'

'

Additional Redeemable Preferred Share

'

'

'

'

'

'

'

'

'

$2,000,000

'

'

'

'

'

'

'

'

'

'

'

Warrants exercise price

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$2

Options exercise price

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$2

Warrants issued to purchase shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000

Options issued to purchase shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

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1,000,000

Number of shares in excess of warrants or options

'

'

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'

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'

'

'

'

'

'

'

'

'

'

'

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'

1,000,000