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IMPAIRMENT OF PROVED PROPERTIES:
9 Months Ended
Sep. 30, 2012
IMPAIRMENT OF PROVED PROPERTIES:  
IMPAIRMENT OF PROVED PROPERTIES:

11. IMPAIRMENT OF PROVED PROPERTIES:

 

The Company recorded $1.6 million of proved property impairments on the Company’s legacy California assets and $0.3 million of proved property impairment in one non-core field in Southern Arkansas for the nine months ended September 30, 2012.  The impairments of the Company’s legacy assets in California were related to anticipated sales proceeds that were lower than the net book value of the properties as of September 30, 2012 and the impairment of the non-core field in Southern Arkansas was related to a the well repair that did not restore the well to its previous production levels.