XML 21 R15.htm IDEA: XBRL DOCUMENT v2.3.0.15
Related Party Transactions
9 Months Ended
Sep. 30, 2011
Related Party Transactions [Abstract] 
Related Party Transactions

NOTE H-RELATED PARTY TRANSACTIONS

In June 2011, the Company entered into a licensing agreement for $335,000 with Texoz E&P, Inc., a wholly owned subsidiary of Texon Petroleum Ltd. ("Texon"). Texon was formed in 2006 as a spinoff from Wandoo Energy LLC, of which the Company owns 20% and has a representative on its board of directors. The Company received shares and stock options in Texon in connection with its formation. As of September 30, 2011, the Company has sold all of its shares in Texon but continues to hold stock options.