Year Ended December 31,
	2005		2004		2003
	--------------------------		--------------------------		--------------------------
Cash Flows from Operating Activities:
Net income	$     115,778,456		$      68,450,917		$      29,893,812
Adjustments to reconcile net income to net cash provided
by operating activities-
Cumulative effect of change in accounting principle	---		---		4,376,852
Depreciation, depletion, and amortization	107,477,787		81,580,828		63,072,057
Accretion of asset retirement obligation	761,042		673,654		857,356
Deferred income taxes	61,911,095		32,513,325		16,332,492
Debt retirement cost – cash and non-cash	---		9,536,268		---
Other	1,812,613		(435,439)		908,927
Change in assets and liabilities-
Increase in accounts receivable	(6,778,383)		(11,040,543)		(7,163,304)
Increase in accounts payable and accrued liabilities	5,071,870		843,341		2,432,111
Increase (decrease) in accrued interest	(700,996)		460,536		116,976
	--------------------------		--------------------------		--------------------------
Net Cash Provided by Operating Activities	285,333,484		182,582,887		110,827,279
	--------------------------		--------------------------		--------------------------
Cash Flows from Investing Activities:
Additions to property and equipment	(235,547,815)		(171,095,101)		(144,503,180)
Proceeds from the sale of property and equipment	7,296,833		5,058,147		10,186,970
Acquisition of South Bearhead Creek fields	(28,927,091)		---		---
Acquisition of Bay de Chene and Cote Blanche Island fields	---		(27,196,336)		---
Net cash received as operator of oil and gas properties	17,797,022		3,921,673		3,073,718
Net cash received (distributed) as operator of partnerships	(948,292)		884,093		260,726
Other	255,189		(658,630)		(71,193)
	--------------------------		--------------------------		--------------------------
Net Cash Used in Investing Activities	(240,074,154)		(189,086,154)		(131,052,959)
	--------------------------		--------------------------		--------------------------
Cash Flows from Financing Activities:
Proceeds from long-term debt	---		150,000,000		---
Payments of long-term debt	---		(125,000,000)		---
Net proceeds from (payments of) bank borrowings	(7,500,000)		(8,400,000)		15,900,000
Net proceeds from issuances of common stock	10,325,114		4,825,251		1,575,853
Payments of debt retirement costs	---		(6,734,611)		---
Payments of debt issuance costs	---		(4,333,535)		---
Net Cash Provided by Financing Activities	--------------------------		--------------------------		--------------------------
	2,825,114		10,357,105		17,475,853
	--------------------------		--------------------------		--------------------------
Net Increase (Decrease) in Cash and Cash Equivalents	$     48,084,444		$        3,853,838		$      (2,749,827)
Cash and Cash Equivalents at Beginning of Year	4,920,118		1,066,280		3,816,107
	--------------------------		--------------------------		--------------------------
Cash and Cash Equivalents at End of Year	$      53,004,562		$        4,920,118		$       1,066,280
	=============		=============		=============
Supplemental Disclosures of Cash Flows Information:
Cash paid during year for interest, net of amounts capitalized	$      24,482,934		$      26,064,158		$     25,763,169
Cash paid during year for income taxes	$          750,000		$          476,000		$         129,738