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Schedule of information on Oil and Gas Industries (Tables) | 12 Months Ended
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Dec. 31, 2013
Schedule of information on Oil and Gas Industries (Tables) |
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities |
|  | 2013 |  |  | 2012 |
Oil and gas sales |  | $ | 1,477 |  |  | $ | 1,182 |
Production expenses |  |  | (1,213 | ) |  |  | (1,130 | )
Exploration expenses |  |  | - |  |  |  | - |
Depreciation, depletion and amortization |  |  | (654 | ) |  |  | (690 | )
Accretion of asset retirement obligations |  |  | - |  |  |  | (68) |
Impairment of oil and gas properties |  |  | (200 | ) |  |  | (912) |
General and administrative expenses |  |  | - |  |  |  | - |
Income tax benefit (expense) |  |  | - |  |  |  | - |
Results of operations |  | $ | (590 | ) |  | $ | (1,618 | )
The following table reflects the standardized measure of future net cash flows related to our proved reserves.
|  | 2013 |  |  | 2012 |
Future oil and gas cash inflows |  | $ | 30,060 |  |  | $ | 23,109 |
Future oil and gas operating expenses |  |  | (5,445 | ) |  |  | (2,829 | )
Future development costs |  |  | (3,350 | ) |  |  | (3,382 | )
Future tax expense |  |  | (1,257) |  |  |  | (466 | )
Future net cash flows |  |  | 20,008 |  |  |  | 16,432 |
10% discount to reflect timing of cash flows |  |  | (7,787 | ) |  |  | (5,708) |
Standardized measure of discounted future net cash flows |  | $ | 12,221 |  |  | $ | 10,724 |
Schedule of Oil and Gas In Process Activities | NOTE N - SUPPLEMENTARY FINANCIAL INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES (UNAUDITED) The Company’s net ownership interests in estimated quantities of proved oil and natural gas reserves and changes in net proved reserves, all of which are located in the continental United States, are summarized below:
|  |  | 2013
|  |  | Gas |  | Oil
|  |  | (MMCF) |  | (MBBLS)
Proved developed and undeveloped reserves - |  |  |  |  |
January 1, 2013 |  |  | 2,849 |  | 103
Purchase of oil and natural gas properties in place |  |  | 0 |  | 0
Discoveries and exclusions |  |  | 0 |  | 0
Revisions |  |  | 232 |  | 82
Sales of oil and gas properties in place |  |  | 0 |  | 0
Production |  |  | (194) |  | (12)
December 31, 2013 |  |  | 2,887 |  | 173
Proved developed at beginning of year |  |  | 593 |  | 35
Proved developed reserves at end of year |  |  | 719 |  | 105
|  |  | 2012
|  |  | Gas |  | Oil
|  |  | (MMCF) |  | (MBBLS)
Proved developed and undeveloped reserves - |  |  |  |  |
January 1, 2012 |  |  | 2,551 |  | 103
Purchase of oil and natural gas properties in place |  |  | 0 |  | 0
Discoveries and exclusions |  |  | 809 |  | 22
Revisions |  |  | (333) |  | (14)
Sales of oil and gas properties in place |  |  | 0 |  | 0
Production |  |  | (178) |  | (8)
December 31, 2012 |  |  | 2,849 |  | 103
Proved developed at beginning of year |  |  | 1,105 |  | 56
Proved developed reserves at end of year |  |  | 593 |  | 35
The following table presents the changes in our total proved undeveloped reserves.
|  | Gas |  |  | Oil |
Proved undeveloped reserves as of December 31, 2011 |  |  | 1,447 |  |  |  | 47 |
Conversion to proved developed reserves |  |  | - |  |  |  | - |
Revaluation of undeveloped reserves |  |  | 809 |  |  |  | 21 |
Proved undeveloped reserves as of December 31, 2012 |  |  | 2,256 |  |  |  | 68 |
Conversion to proved developed reserves |  |  | (88 | ) |  |  | - |
Revaluation of undeveloped reserves |  |  | - |  |  |  | - |
Proved undeveloped reserves as of December 31, 2013 |  |  | 2,168 |  |  |  | 68 |
The following table reflects the capitalized costs relating to oil and gas producing activities.
|  | 2013 |  |  | 2012 |
Property acquisition costs: |  |  |  |  |  |
Proved properties |  | $ | 11,368 |  |  | $ | 11,328 |
Unproved properties |  |  | - |  |  |  | - |
Accumulated depreciation, depletion and amortization and valuation allowance |  |  | (2,178 | ) |  |  | (1,611 | )
Net capitalized costs |  | $ | 9,190 |  |  | $ | 9,717 |
The following table reflects the costs incurred in oil and gas property acquisition, exploration and development activities.
|  | 2013 |  |  | 2012 |
Property acquisition costs: |  |  |  |  |  |
Proved properties |  | $ | - |  |  | $ | - |
Unproved properties |  |  | - |  |  |  | - |
Exploration costs |  |  | - |  |  |  | - |
Development costs |  |  | 240 |  |  |  | 102 |
Total cost incurred |  | $ | 240 |  |  | $ | 102 |

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- Definition Tabular disclosure of in process activities, such as the number of wells in process of drilling (including wells temporarily suspended), water floods in process of installation, pressure maintenance operations, and any other related operations of material importance by appropriate geographic areas. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Industry Guide -Number 2 -Paragraph 7 + Details
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- Definition Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61858-109447 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61797-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61869-109447 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61831-109447 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61872-109447 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61884-109447 + Details
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