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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Cash and cash equivalents $ 32 $ 59
Accounts receivable from oil and gas sales 209 223
Other current assets 16 14
Total current assets 257 296
Note and interest receivable – related party 9,885 10,361
Proved developed and undeveloped oil and gas properties, net of depletion 11,736 11,789
Land, buildings and equipment - oil and gas operations 1,381 1,395
Other 151 156
Total property and equipment 1,532 1,551
Other assets 475 70
Total assets 23,885 24,067
Accounts payable - trade 208 83
Accrued expenses 28 156
Total current liabilities 236 239
Notes payable 1,367 1,308
Payable - related parties 486 953
Asset retirement obligation 2,637 2,573
Other long-term liabilities 726 723
Total liabilities 5,452 5,796
Preferred stock, Series B 1 1
Common stock, $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 1,946,935 shares at June 30, 2011 and December 31, 2010 20 20
Additional paid-in capital 58,838 58,838
Accumulated deficit (40,426) (40,588)
Stockholders' equity 18,433 18,271
Total liabilities & equity $ 23,885 $ 24,067