Segment Information (Tables)

6 Months Ended

Jun. 30, 2012

Summary of result of operations and total assets by segment

As of June 30, 2012, we had two reportable segments: Oil and Gas and Maintenance of Mineral Properties. A summary of results of operations for the six months ended June 30, 2012, and 2011, and total assets as of June 30, 2012 and December 31, 2011 by segment are as follows:

	(In thousands)						(In thousands)
	For the three months ended June 30,						For the six months ended June 30,
	2012			2011			2012			2011
Revenues:
Oil and gas	$	8,522		$	7,025		$	16,857		$	13,704
Total revenues:		8,522			7,025			16,857			13,704

Operating expenses:
Oil and gas		7,111			5,075			13,645			11,939
Mineral properties		642			535			1,261			1,007
Total operating expenses:		7,753			5,610			14,906			12,946

Interest expense
Oil and gas		28			20			58			29
Mineral properties		6			9			12			18
Total interest expense:		34			29			70			47

Operating (loss) income
Oil and gas	$	1,383		$	1,930		$	3,154		$	1,736
Mineral properties		(648	)		(544	)		(1,273	)		(1,025	)
Operating income (loss)
from identified segments		735			1,386			1,881			711

General and administrative expenses		(1,760	)		(2,138	)		(3,654	)		(4,549	)
Add back interest expense		34			29			70			47
Other revenues and expenses:		1,615			1,143			1,494			(721	)
Loss before income taxes
and discontinued operations	$	624		$	420		$	(209)		$	(4,512	)

Depreciation depletion and amortization expense:
Oil and gas	$	4,030		$	3,120		$	7,671		$	5,905
Mineral properties		32			25			64			51
Corporate		120			124			245			250
Total depreciation expense	$	4,182		$	3,269		$	7,980		$	6,206

	(In thousands)
	June 30,		December 31,
	2012		2011
Assets by segment
Oil and Gas	$	94,311	$	109,141
Mineral		20,754		20,755
Corporate		32,217		32,543
Total assets	$	147,283	$	162,439

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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