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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
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