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FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2016
Fair Value Disclosures [Abstract] |
Schedule of recurring measurements of the fair value of assets and liabilities | Recurring measurements of the fair value of assets and liabilities as of December 31, 2016 and 2015 are as follows:
|  | December 31, 2016 |  |  | December 31, 2015 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Marketable equity securitites: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sutter Gold Mining Company(1) |  | $ | - |  |  | $ | 16 |  |  | $ | - |  |  | $ | 16 |  |  | $ | - |  |  | $ | 13 |  |  | $ | - |  |  | $ | 13 |
Anfield Resources, Inc. (2) |  |  | 930 |  |  |  | - |  |  |  | - |  |  |  | 930 |  |  |  | - |  |  |  | - |  |  |  | 238 |  |  |  | 238 |
Outstanding Warrants |  |  |  |  |  |  |  |  |  |  | 1,030 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Crude oil price risk derivatives |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,634 |  |  |  | - |  |  |  | 1,634 |
Total |  | $ | 930 |  |  | $ | 16 |  |  | $ | 1,030 |  |  | $ | 1,976 |  |  | $ | 25 |  |  | $ | 1,647 |  |  | $ | 238 |  |  | $ | 1,885 |
Executive retirement liability |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 584 |  |  | $ | 584 |
| (1) | Due to a less active market for this investment, during the fourth quarter of 2015 the Company transferred this investment from Level 1 to Level 2 of the fair value hierarchy.
| (2) | Because the trading volume of Anfield shares have increased since we took possession, we determined a mark-to-market technique would be most appropriate to determine the fair value for Anfield shares. Previously, the Company used alternative methods to determine fair value upon receipt of the shares in September 2015, which requires classification under Level 3 of the fair value hierarchy. The Company has reclassified the Anfield shares under Level 1 of the fair value hierarchy.
Schedule of reconciliation of changes in assets and liabilities measured at fair value on a recurring basis | The following table presents a reconciliation of changes in assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2016 and 2015:
|  | Assets |  |  |  |  |  | Liabilities |
|  | Marketable Securities |  |  | Crude Oil |  |  | Crude Oil |  |  | Executive |  |  |  |  |  |  |
|  | Sutter |  |  | Sutter |  |  | Anfield |  |  | Derivatives |  |  | Derivatives |  |  | Retirement |  |  | Warrants |  |  |  |
|  | (Level 1) |  |  | (Level 2) |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 2) |  |  | (Level 3) |  |  | (Level 3) |  |  | Net |
Fair value, December 31, 2014 |  |  | 25 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,309 | ) |  |  | - |  |  |  | (1,284 | )
Total net losses included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive loss |  |  | (12 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (12 | )
Fair value adjustments included in net loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net realized losses on oil price risk derivatives |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (35 | ) |  |  | (40 | ) |  |  | - |  |  |  | - |  |  |  | (75 | )
Net unrealized gains on oil price risk derivatives |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,634 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,634 |
Retirement expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (45 | ) |  |  | - |  |  |  | (45 | )
Transfer from Level 1 to Level 2 |  |  | (13 | ) |  |  | 13 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Acquisition of investment |  |  | - |  |  |  |  |  |  |  | 238 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 238 |
Discount negotiated on settlement |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 77 |  |  |  | - |  |  |  | 77 |
Offset of derivative assets and liabilities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (40 | ) |  |  | 40 |  |  |  | - |  |  |  | - |  |  |  | - |
Cash settlements paid |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 75 |  |  |  | - |  |  |  | 694 |  |  |  | - |  |  |  | 769 |
Fair value, December 31, 2015 |  | $ | - |  |  | $ | 13 |  |  | $ | 238 |  |  | $ | 1,634 |  |  | $ | - |  |  | $ | (583 | ) |  |  |  |  |  | $ | 1,302 |
Total net losses included in: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive loss |  |  | - |  |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | 695 |
Fair value adjustments included in net loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net realized losses on oil price risk derivatives |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |
Net unrealized gains on oil price risk derivatives |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |
Net unrealized gain on warrant valuation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (210 | ) |  |  |  |
Net unrealized loss on Anfield Shares |  |  |  |  |  |  |  |  |  |  | (58 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Retirement expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |
Transfer from Level 1 to Level 2 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Issuance of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,240 |  |  |  |  |
Acquisition of investment |  |  | - |  |  |  |  |  |  |  | 750 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |
Discount negotiated on settlement |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |  |  |  | - |
Offset of derivative assets and liabilities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (194 | ) |  |  | - |  |  |  | - |  |  |  |  |  |  |  | (194 | )
Cash settlements paid |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (1,440 | ) |  |  | - |  |  |  | 583 |  |  |  |  |  |  |  | (857 | )
Fair value, December 31, 2016 |  | $ | - |  |  | $ | 16 |  |  | $ | 930 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  |  | 1,030 |  |  | $ | 1,976 |

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- Definition Tabular disclosure of the amount of gains or losses for the period included in earnings or resulted in a change to net assets, have arisen from the use of significant unobservable inputs (level 3) to measure the fair value of assets, liabilities, and financial instruments classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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