Schedule of information on Oil and Gas Industries (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of information on Oil and Gas Industries (Tables)

Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities

	2013			2012
Oil and gas sales	$	1,477		$	1,182
Production expenses		(1,213	)		(1,130	)
Exploration expenses		-			-
Depreciation, depletion and amortization		(654	)		(690	)
Accretion of asset retirement obligations		-			(68)
Impairment of oil and gas properties		(200	)		(912)
General and administrative expenses		-			-
Income tax benefit (expense)		-			-
Results of operations	$	(590	)	$	(1,618	)

The following table reflects the standardized measure of future net cash flows related to our proved reserves.

	2013			2012
Future oil and gas cash inflows	$	30,060		$	23,109
Future oil and gas operating expenses		(5,445	)		(2,829	)
Future development costs		(3,350	)		(3,382	)
Future tax expense		(1,257)			(466	)
Future net cash flows		20,008			16,432
10% discount to reflect timing of cash flows		(7,787	)		(5,708)
Standardized measure of discounted future net cash flows	$	12,221		$	10,724

Schedule of Oil and Gas In Process Activities

NOTE N - SUPPLEMENTARY FINANCIAL INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED)

The Company’s net ownership interests in estimated quantities of proved oil and natural gas reserves and changes in net proved reserves, all of which are located in the continental United States, are summarized below:

	2013
	Gas	Oil
	(MMCF)	(MBBLS)
Proved developed and undeveloped reserves -
January 1, 2013	2,849	103
Purchase of oil and natural gas properties in place	0	0
Discoveries and exclusions	0	0
Revisions	232	82
Sales of oil and gas properties in place	0	0
Production	(194)	(12)
December 31, 2013	2,887	173
Proved developed at  beginning of year	593	35
Proved developed reserves at end of year	719	105

	2012
	Gas	Oil
	(MMCF)	(MBBLS)
Proved developed and undeveloped reserves -
January 1, 2012	2,551	103
Purchase of oil and natural gas properties in place	0	0
Discoveries and exclusions	809	22
Revisions	(333)	(14)
Sales of oil and gas properties in place	0	0
Production	(178)	(8)
December 31, 2012	2,849	103
Proved developed at  beginning of year	1,105	56
Proved developed reserves at end of year	593	35

The following table presents the changes in our total proved undeveloped reserves.

	Gas			Oil
Proved undeveloped reserves as of December 31, 2011		1,447			47
Conversion to proved developed reserves		-			-
Revaluation of undeveloped reserves		809			21
Proved undeveloped reserves as of December 31, 2012		2,256			68
Conversion to proved developed reserves		(88	)		-
Revaluation of undeveloped reserves		-			-
Proved undeveloped reserves as of December 31, 2013		2,168			68

The following table reflects the capitalized costs relating to oil and gas producing activities.

	2013			2012
Property acquisition costs:
Proved properties	$	11,368		$	11,328
Unproved properties		-			-
Accumulated depreciation, depletion and amortization and valuation allowance		(2,178	)		(1,611	)
Net capitalized costs	$	9,190		$	9,717

The following table reflects the costs incurred in oil and gas property acquisition, exploration and development activities.

	2013		2012
Property acquisition costs:
Proved properties	$	-	$	-
Unproved properties		-		-
Exploration costs		-		-
Development costs		240		102
Total cost incurred	$	240	$	102