Investment in Sunrise Energy (Sunrise Energy [Member])

3 Months Ended

Mar. 31, 2015

Sunrise Energy [Member]

(3)Equity Investment in Sunrise Energy

We own a 50% interest in Sunrise Energy, LLC, which owns gas reserves and gathering equipment with plans to develop and operate such reserves. Sunrise Energy also plans to develop and explore for coal-bed methane gas reserves on or near our underground coal reserves. They use the successful efforts method of accounting. We account for our interest using the equity method of accounting.

Below (in thousands) to the 100% is a condensed balance sheet at March 31, and a condensed statement of operations for the three months ended March 31, 2015 and 2014.


Condensed Balance Sheet
	2015

Current assets	$	2,659
Oil and gas properties, net		7,799
	$	10,458

Total liabilities	$	747
Members' capital		9,711
	$	10,458


Condensed Statement of Operations

	2015			2014

Revenue	$	617		$	782
Expenses		(537	)		(605	)
Net income	$	80		$	177

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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