Reformatting the disk will not help you recover the data. The less you do to the disk, new writes to it, the better for potential recovery. I would try to recover the partition first to see if you can avoid having to do individual file recovery: http://www.easeus.com/partition-recovery/
Thank you for your input! I have tried to use the Easeus Partition Master program but was not able to get any desirable result. Right now I am running VirtualLab and it is taking a long time but I am going to let it finish. I have just downloaded The Easeus Recovery Program with your suggestion and will try that after VirtualLab has finished running. Assuming that it could not do anything.
Again, thank you for your assistance and I hope to be able to do the same some day!