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Supplemental Disclosures

6 Months Ended

Jun. 30, 2012

NOTE 11 - SUPPLEMENTAL DISCLOSURES

Accrued Liabilities

The following table summarizes the Company’s current accrued liabilities at June 30, 2012 and December 31, 2011 (in thousands).


	June 30, 2012		December 31, 2011
Accrued evaluated and unproved and unevaluated property costs	$	29,653	$	18,185
Accrued support equipment and facilities costs		—		216
Accrued cost to issue equity		—		332
Accrued stock-based compensation		1,276		2,860
Accrued lease operating expenses		2,272		575
Accrued interest on borrowings under Credit Agreement		118		—
Accrued asset retirement obligations		343		334
Other		2,597		2,937

Total accrued liabilities	$	36,259	$	25,439

Supplemental Cash Flow Information

The following table provides supplemental disclosures of cash flow information for the six months ended June 30, 2012 and 2011 (in thousands).


	Six Months Ended June 30,
	2012			2011
Cash paid for interest expense, net of amounts capitalized	$	226		$	36
Asset retirement obligations related to mineral properties		293			(22	)
Asset retirement obligations related to support equipment and facilities		33			17
Increase (decrease) in liabilities for oil and natural gas properties capital expenditures		8,995			(12,587	)
(Decrease) increase in liabilities for support equipment and facilities		(215	)		71
Increase in accounts receivable for oil and natural gas properties capital expenditures		—			45
Issuance of restricted stock units for Board and advisor services		10			—
Issuance of common stock for Board and advisor services		61			99
Decrease in liabilities for accrued cost to issue equity		(331	)		(291	)
Stock-based compensation expense recognized as liability		(491	)		115
Transfer of costs to support equipment and facilities from oil and natural gas properties capital expenditures		—			129
Transfer of inventory from oil and natural gas properties		—			(157	)
Receivable for inventory from other joint interest owners		—			(157	)