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OTHER LIABILITIES AND DEBT (Tables)

12 Months Ended

Dec. 31, 2012

OTHER LIABILITIES AND DEBT [Abstract]

Schedule of Other Liability and Debt

As of December 31, 2012 and 2011, USE had current and long term liabilities associated with the following funding commitments:

		(In thousands)
		December 31,				December 31,
		2012				2011
Other liabilities and debt:
Other liabilities
Deferred rent			12				14
Employee health insurance self funding			32				10
		$	44			$	24
Other long term liabilities:
Accrued executive retirement costs		$	771			$	822
Debt:
Credit Facility - collateralized by
oil and gas reserves, at 2.92%		$	10,000			$	12,000
Long term Debt
Real estate note - collateralized by
property, interest at 5.5%			9,621				9,904
Real estate note - collateralized by
property, interest at 6%			200				400
			19,821				22,304
Less current portion			(526	)			(481	)
Totals		$	19,295			$	21,823

Schedule of Future Payments on Debt Maturities

On May 5, 2011, USE borrowed $10.0 million from a commercial bank against Remington Village. At the date of filing of this annual report $9.6 million is due on the note. The note is collateralized by the Company's multi-family property in Gillette, WY. The note is amortized over 20 years with a balloon payment at the end of five years with an interest rate of 5.50% per annum. Proceeds of the note were used to fund general business obligations. When Remington Village is sold, the proceeds from the sale will first be applied to the retirement of the debt and the remainder applied to general corporate overhead and project development. Therefore, the debt related to Remington Village is included in current liabilities held for sale.

		(In thousands)
		Payments due by period
		Total				2013				2014				2015				2016				2017 and thereafter
Credit facility 3.2%		$	10,000			$	--			$	10,000			$	--			$	--			$	--
Real estate note 5.5%			9,621				308				326				8,987				--				--
Real estate note 6.0%			200				200				--				--				--				--
Total		$	19,821			$	508			$	10,326			$	8,987			$	--			$	--

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- Definition

Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

+ References

No definition available.

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- Definition

Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 470

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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