Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2013

Summary of Significant Accounting Policies [Abstract]

Components of property and equipment

Components of Property and Equipment as of September 30, 2013 and December 31, 2012 are as follows:

	(In thousands)
	September 30,			December 31,
	2013			2012
Oil & Gas properties
Unproved	$	9,687		$	9,169
Wells in progress		777			--
Proved		127,382			119,919
		137,846			129,088
Less accumulated depreciation
depletion and amortization		(53,333	)		(43,454	)
Net book value		84,513			85,634
Mineral properties		20,739			20,739
Building, land and equipment		8,410			8,469
Less accumulated depreciation		(4,184	)		(4,034	)
Net book value		4,226			4,435
Totals	$	109,478		$	110,808

Mineral properties

Our carrying balance in the Mt. Emmons property at September 30, 2013 and December 31, 2012 is as follows:

	(In thousands)
	September 30,		December 31,
	2013		2012
Costs associated with Mount Emmons beginning of year	$	20,739	$	20,739
Development costs		--		--
Costs at the end of the period	$	20,739	$	20,739