XML 13 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and equivalents $ 1,814 $ 2,518
Oil and gas sales receivable 464 562
Discontinued operations - assets of mining segment 114 114
Assets available for sale 653 653
Marketable securities 464 946
Commodity price risk derivatives 29  
Other current assets 131 96
Total current assets 3,669 4,889
Oil and gas properties under full cost method:    
Unevaluated properties and exploratory wells in progress 4,664 4,664
Evaluated properties 87,919 87,834
Less accumulated depreciation, depletion and amortization (83,233) (82,640)
Net oil and gas properties 9,350 9,858
Other assets:    
Property and equipment, net 1,749 1,864
Other assets 125 156
Total other assets 1,874 2,020
Total assets 14,893 16,767
Accounts payable and accrued liabilities:    
Payable to major operator 2,442 2,710
Contingent ownership interests 1,557 1,430
Other 392 743
Accrued compensation and benefits 69 49
Current portion of long-term debt 6,000
Total current liabilities 4,460 10,932
Noncurrent liabilities:    
Revolving credit facility 6,000
Asset retirement obligations 1,069 1,045
Warrant liability 580 1,030
Other liabilities 6 2
Total noncurrent liabilities 7,655 2,077
Commitments and contingencies (Note 7)
Shareholders' equity:    
Preferred stock, par value $0.01 per share. Authorized 100,000 shares, 50,000 shares of series A Convertible Preferred Stock outstanding as of September 30, 2017 and December 31, 2016; liquidation preference of $2,375 as of September 30, 2017. 1 1
Common stock, $0.01 par value; unlimited shares authorized; 5,983,498 and 5,834,568 shares issued and outstanding, respectively 61 61
Additional paid-in capital 127,864 127,576
Accumulated deficit (124,611) (123,825)
Other comprehensive loss (537) (55)
Total shareholders' equity 2,778 3,758
Total liabilities and shareholders' equity $ 14,893 $ 16,767