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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
REVENUES:        
Oil and gas $ 7,025 $ 6,218 $ 13,704 $ 13,927
Realized (loss) on risk management activities (1,015) 0 (1,570) 0
Unrealized gain on risk management activities 2,138 0 897 0
Total revenues 8,148 6,218 13,031 13,927
OPERATING EXPENSES:        
Oil and gas 1,955 1,498 6,034 2,628
Oil and gas depreciation, depletion and amortization 3,120 2,396 5,905 4,651
Water treatment plant 498 459 927 808
Mineral holding costs 37 (5) 80 52
General and administrative 2,138 2,167 4,549 4,835
Total operating expenses 7,748 6,515 17,495 12,974
OPERATING (LOSS) INCOME 400 (297) (4,464) 953
OTHER INCOME AND (EXPENSES):        
Gain on the sale of assets 137 0 137 115
Equity gain/(loss) in unconsolidated investment (65) 179 (129) 1,142
Gain on sale of marketable securities 9 8 9 8
Miscellaneous income and (expenses) (37) (50) (38) (80)
Interest income 10 2 30 61
Interest expense (115) (18) (138) (35)
Total other income and (expenses) (61) 121 (129) 1,211
(LOSS) INCOME BEFORE INCOME TAXES AND DISCONTINUED OPERATIONS 339 (176) (4,593) 2,164
Income taxes:        
Deferred benefit from (provision for) (618) 17 1,976 (871)
Total income taxes (618) 17 1,976 (871)
(LOSS) INCOME FROM CONTINUING OPERATIONS (279) (159) (2,617) 1,293
DISCONTINUED OPERATIONS        
Discontinued operations, net of taxes 204 28 333 103
DISCONTINUED OPERATIONS 204 28 333 103
NET (LOSS) INCOME $ (75) $ (131) $ (2,284) $ 1,396
(Loss) income from continuing operations, basic $ (0.01) $ 0.00 $ (0.09) $ 0.05
Income from discontinued operations, basic $ 0.01 $ 0.00 $ 0.01 $ 0.00
Net (loss) income, basic $ 0.00 $ 0.00 $ (0.08) $ 0.05
(Loss) from continuing operations, diluted $ (0.01) $ 0.00 $ (0.09) $ 0.05
Income from discontinuined operations, diluted $ 0.01 $ 0.00 $ 0.01 $ 0.00
Net (loss) income, diluted $ 0.00 $ 0.00 $ (0.08) $ 0.05
Weighted average shares outstanding        
Basic 27,220,049 26,734,636 27,203,336 26,611,583
Diluted 27,866,544 26,734,636 27,203,336 27,813,215