FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 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 March 31, 2016 and December 31, 2015 are as follows:

	March 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	$	-	$	23	$	-	$	23	$	-	$	13	$	-	$	13
Anfield Resources, Inc. (1)		-		-		238		238		-		-		238		238
Crude oil price risk derivatives		-		1,061		-		1,061		-		1,634		-		1,634
Total	$	-	$	1,084	$	238	$	1,322	$	-	$	1,647	$	238	$	1,885
Executive retirement liability	$	-	$	-	$	-	$	-	$	-	$	-	$	584	$	584

⁽¹⁾ Because of limited trading for this investment and considering the large block of common stock held by the Company, management determined that the quoted marked price was not an accurate indicator of fair value. Accordingly, 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.