Derivative Instruments

12 Months Ended

Dec. 31, 2011

Derivative Instruments [Abstract]

Derivative Instruments

8. DERIVATIVE INSTRUMENTS

On January 1, 2009, the Company adopted ASC 815, Determining Whether an Instrument (or Embedded Feature) is Indexed to an Entity's Own Stock. As part of the adoption of ASC 815, the Company determined that the stock purchase warrants denominated in Canadian dollars are not indexed to its stock, and therefore the value was recorded as a liability.

The Company recorded the following cumulative effect of change in accounting principle:

	Increase/(Decrease)
	Share-Based Payment  Liability		Additional Paid-in  Capital			Deficit
Balance as of December 31, 2008	$	—	$	15,748		$	(67,377	)
Record January 1, 2009, stock purchase warrants liability fair value		675		—			(675	)
Reclassification of accumulated stock purchase warrant expense		—		(14,670	)		14,670
Cumulative Change in Balances as of January 1, 2009	$	675	$	1,078		$	(53,382	)

Derivative Liabilities

The Company currently does not hold derivative instruments to manage its exposures to commodity prices. The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. All derivative financial instruments are recognized in the balance sheet at fair value. Changes in fair value are recognized in earnings if they are not eligible for hedge accounting or other comprehensive income if they qualify for cash flow hedge accounting.

A Black-Scholes option-pricing model was used to obtain the fair value of the Company's stock purchase warrants using the assumptions described in note 6 at December 31, 2011 and 2010. The fair value of outstanding derivative instruments not designed as hedging instruments on the accompanying Consolidated Balance Sheets were as follows for the years ended December 31, 2011 and 2010:

Derivative Instruments	Balance Sheet Location	2011		2010
Stock purchase warrants	Share—based payment liabilities	$	—	$	129

The effect of derivative instruments not designed as hedging instruments on the accompanying consolidated statements of operations was immaterial for the year ended December 31, 2011.