XML 15 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 437 $ 300
Accounts receivable from oil and gas sales 137 216
Other current assets 362 182
Total current assets 936 698
Oil and natural gas properties (full cost accounting method)    
Proved developed and undeveloped oil and gas properties, net of depletion 8,776 8,809
Property and equipment, net of depreciation    
Land, buildings and equipment - oil and gas operations 845 1,476
Other 152 162
Total property and equipment 997 1,638
Other assets (including $124 due from related parties in 2014) 1,275 1,129
Total assets 11,984 12,274
Current liabilities    
Accounts payable (includes $494 due to related parties in 2014) 165 673
Accrued expenses 252 229
Current portion of long term debt 775 881
Total current liabilities 1,192 1,783
Long-term debt    
Notes payable less current portion 1,305 1,428
Asset retirement obligation 2,770 2,770
Total liabilities 5,267 5,981
Stockholders' equity    
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, 2015 and December 31, 2014 20 20
Additional paid-in capital 58,838 58,838
Accumulated deficit (52,142) (52,566)
Total Stockholder's equity 6,717 6,293
Total liabilities & equity $ 11,984 $ 12,274