XML 24 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
Investment in Sunrise Energy
 6 Months Ended
Jun. 30, 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 June 30, and a condensed statement of operations for the six months ended June 30. 





 

 

 

 

 

 

Condensed Balance Sheet

 

 

 

 

 

 



 

 

 

 

2016

 

Current assets

 

 

 

$

 2,156 

 

Oil and gas properties, net

 

 

 

 

 7,706 

 



 

 

 

$

 9,862 

 



 

 

 

 

 

 

Total liabilities

 

 

 

$

 697 

 

Members’ capital

 

 

 

 

 9,165 

 



 

 

 

$

 9,862 

 





 

 

 

 

 

 



 

 

 

 

 

 

Condensed Statement of Operations

 

 

 

 

 

 



 

2016

 

 

2015

 

Revenue

$

 796

 

$

 1,167

 

Expenses

 

 (1,113

)

 

 (1,161

)

Net income (loss)

$

 (317

)

$

 6