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10. INCOME TAXES (Tables)

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Deferred income taxes assets

Deferred income tax assets as of September 30, 2015 and December 31, 2014 are as follows (in thousands):

		As of				As of
		September 30,				December 31,
		2015				2014
Deferred Tax Assets (Liabilities)
Difference in depreciation, depletion, and capitalization methods – oil and natural gas properties		$	1,695			$	1,385
Net operating losses			4,131				4,131
Impairment – oil and natural gas properties			(1,122	)			(1,122	)
Other			753				623
Total deferred tax asset			5,457				5,017
Less: valuation allowance			(5,457	)			(5,017	)
Total deferred tax assets		$	-			$	-

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- References

No definition available.

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 740



-SubTopic 10



-Section 50



-Paragraph 2



-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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