(3) Investments in Piceance Energy: Balance Sheet for Piceance Energy (Tables)

3 Months Ended

Mar. 31, 2013

Tables/Schedules

Balance Sheet for Piceance Energy

	March 31, 2013
	100%	Our Share
	(Unaudited)
Assets
Cash and equivalents	$1,001	$334
Accounts receivable	4,166	1,389
Prepaids and other assets	447	149
Total current assets	5,614	1,872
Natural gas and oil property, successful efforts method	535,558	178,555
Other real estate and land	14,314	4,772
Office furniture and equipment	3,115	1,039
Total	552,987	184,366
Less: accumulated depletion, depreciation and amortization	(96,097)	(32,039)
Total property and equipment, net	456,890	152,327
Deferred issue costs and other assets, net	904	301
Total assets	$463,408	$154,500

	March 31, 2013
	100%	Our Share
	(Unaudited)
Liabilities and Members’ Equity
Accounts payable and accrued liabilities............................	$11,929	$3,977
Natural gas and oil sales payable..........................................	1,589	530
Derivative liabilities..................................................................	2,776	926
Total current liabilities..................................................	16,294	5,433
Note payable.............................................................................	89,000	29,672
Asset retirement obligation.....................................................	2,882	961
Derivative liabilities..................................................................	1,240	413
Total non-current liabilities...............................	93,122	31,046
Total liabilities...........................................................................	109,416	36,479
Members equity........................................................................
Members’ equity	365,046	121,706
Accumulated deficit................................................................	(11,054)	(3,685)
Total equity..........................................................	353,992	118,021
Total liabilities and members’ equity...................................	$463,408	$154,500