Year Ended December 31,

2004

2003

2002

Revenues:

   Oil and gas sales

$

311,285,172

$

211,032,639

$

141,195,713

   Gain on asset disposition

---

---

7,332,668

   Price-risk management and other, net

(1,008,398)

(2,131,656)

1,441,430

-------------------

-------------------

-------------------

310,276,774

208,900,983

149,969,811

-------------------

-------------------

-------------------

Costs and Expenses:

   General and administrative, net

17,787,125

14,097,066

10,564,849

   Depreciation, depletion, and amortization

81,580,828

63,072,057

56,224,392

   Accretion of asset retirement obligation

673,654

857,356

---

   Lease operating cost

41,214,256

33,833,198

28,918,858

   Severance and other taxes

30,401,293

19,033,604

12,578,454

   Interest expense, net

27,643,108

27,268,524

23,274,969

   Debt retirement cost

9,536,268

---

---

-------------------

-------------------

-------------------

208,836,532

158,161,805

131,561,522

-------------------

-------------------

-------------------

Income Before Income Taxes and

   Change in Accounting Principle

101,440,242

50,739,178

18,408,289

Provision for Income Taxes

32,989,325

16,468,514

6,485,062

-------------------

-------------------

-------------------

Income Before Change in Accounting Principle

$

68,450,917

$

34,270,664

$

11,923,227

Cumulative Effect of Change in Accounting Principle (net of taxes)

---

4,376,852

---

-------------------

-------------------

-------------------

Net Income

$

68,450,917

$

29,893,812

$

11,923,227

==========

==========

==========

Per Share Amounts-

   Basic: Income Before Change in Accounting Principle

$

2.46

$

1.25

$

0.45

        Change in Accounting Principle

---

(0.16)

---

-------------------

-------------------

-------------------

        Net Income

$

2.46

$

1.09

$

0.45

==========

==========

==========

Diluted: Income Before Change in Accounting Principle

$

2.41

$

1.24

$

0.45

        Change in Accounting Principle

---

(0.16)

---

-------------------

-------------------

-------------------

        Net Income

$

2.41

$

1.08

$

0.45

==========

==========

==========

Weighted Average Shares Outstanding

27,822,413

27,357,579

26,382,906

==========

==========

==========