H. ASSETS HELD FOR SALE

In January 2011, we made the decision to sell our Remington Village multifamily project in Gillette, Wyoming and plan to use the proceeds to further the development of our oil and gas business. At December 31, 2011 and 2010, we recorded impairments of $3.1 million and $1.5 million, respectively, to adjust the carrying value of the multifamily project to the estimated fair value as of the evaluation date. As of December 31, 2011, Remington is classified as an asset held for sale with a net book value of $18.1 million and a $10.2 million liability held for sale. Because Remington Village has been classified as an asset held for sale, the scheduled depreciation of $946,000 was not recorded during 2011. Remington is pledged as collateral on a $10.0 million note. At such time as Remington is sold, the debt balance will be retired.

The Company's real estate operations for the years ending December 31, 2010 and 2009 respectively were reported as an operating segment. For the year ended December 31, 2011, these operations have been reclassified as discontinued operations in the current financial statements. Results of discontinued operations for the years ended December 31, were as follows:

	(In thousands)
	For the years ending December 31,
	2011			2010			2009
Revenues	$	2,147		$	2,411		$	2,630
Operating expenses		1,468			2,062			1,840
Impairment		3,063			1,540			--
		4,531			3,602			1,840

(Loss) income before income taxes		(2,384	)		(1,191	)		790

Income tax benefit from (provision for)		(245	)		(123	)		(264	)

Net (loss) income from discontinued operations	$	(2,629	)	$	(1,314	)	$	526

The following assets and liabilities have been segregated and included in the Assets Held for Sale and Liabilities Held for Sale, as appropriate, in the consolidated balance sheets as of December 31, 2011 and 2010, respectively, and represent the assets and liabilities of the multifamily housing project.

	(In thousands)
	December 31,		December 31,
	2011		2010
Cash and cash equivalents	$	170	$	198
Accounts receivable		13		43
Prepaid expenses		99		--
Property, plant and equipment, net		17,730		20,738
Restricted investment		120		--
Assets of discontinued operations held for sale	$	18,132	$	20,979

Accounts payable	$	117	$	86
Accrued and other liabilities		220		237
Long term debt		9,904		--
Assets of discontinued operations held for sale	$	10,241	$	323