Investment in Sunrise Energy

3 Months Ended

Mar. 31, 2016

Sunrise Energy [Member]

Investment

(4)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 oil, gas and 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, 2016 and 2015. 

Condensed Balance Sheet
	2016
Current assets	$	2,204
Oil and gas properties, net		7,844
	$	10,048
Total liabilities	$	716
Members’ capital		9,332
	$	10,048

Condensed Statement of Operations
	2016		2015
Revenue	$	458	$	617
Expenses		(607)		(537)
Net income (loss)	$	(149)	$	80