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Related-Party Transaction
12 Months Ended
Dec. 31, 2011
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

5. Related-Party Transaction

 

Effective January 1, 1990, John H. Alexander, an officer and director of the Company participated with a group of investors that acquired the mineral and fee interest on one of the Company's oil and gas leases (Santa Fe Energy lease) in the Carneros Creek field after the Company declined to participate. The thirty-three percent interest owned by Mr. Alexander represents a minority interest in the investor group. Royalties on oil and gas production from this property paid to the investor group approximated $226,200, $195,000 and $188,500 in 2011, 2010 and 2009, respectively.

 

As a director, Mr. Alexander has abstained from voting on any of the above matters that have been brought before the Board of Directors, involving the Santa Fe lease. See Note 13 for discussion of severance awards entered into with Mr. Alexander.