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Subsequent Events | 12 Months Ended
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Dec. 31, 2012
Subsequent Events [Abstract] |
Subsequent Events | 17. Subsequent Events On January 2, 2013, options to purchase 18,750 common shares at $0.64 per share were issued to the Company's non-executive directors. These options fully vested upon grant date and will expire on January 1, 2018. On January 31, 2013, the Company's senior credit facility with F&M Bank was amended to revise the "Change in Control" definition. No other changes we made to the credit facility. On March 1, 2013, the Company entered into an agreement with Swan Creek Partners LLC to sell the Company's Swan Creek and Pipeline assets for $1.5 million. Final closing of this transaction is contingent upon customary due diligence as well as certain regulatory and easement holder approvals. On March 6, 2013, the Company's senior credit facility with F&M Bank and Trust Company, N.A. of Dallas, Texas (F&M Bank") after F&M Bank's semiannual review of the Company's currently owned producing properties was amended to decrease the Company's borrowing base from $21.5 million to $20.5 million and extend the term of the facility to January 27, 2015. The borrowing base remains subject to the existing periodic redetermination provisions in the credit facility. The interest rate remained the greater of prime plus 0.25% or 5.25% per annum. The maximum line of credit of the Company under the F&M Bank credit facility remained $40 million and the Company's outstanding borrowing under the facility as of March 6, 2013 was $9.1 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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