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

6 Months Ended

Jun. 30, 2013

Tables/Schedules

Balance Sheet for Piceance Energy

Summarized balance sheet information and our share of the equity investment are as follows:

	June 30, 2013
	100%	Our Share
	(Unaudited)
	(in thousands)
Assets
Cash and equivalents	$35	$12
Accounts receivable	3,972	1,324
Prepaids and other assets	1,661	554
Total current assets	5,668	1,890
Natural gas and oil property, successful efforts method of accounting	544,266	181,458
Other real estate and land	14,314	4,772
Office furniture and equipment	3,116	1,039
Total	561,696	187,269
Less: accumulated depletion, depreciation and amortization	(100,329)	(33,450)
Total property and equipment, net	461,367	153,819
Deferred issue costs and other assets, net	1,026	342
Total assets	$468,061	$156,051

	June 30, 2013
	100%	Our Share
	Unaudited)
	(in thousands)
Liabilities and Members’ Equity
Accounts payable and accrued liabilities	$13,285	$4,428
Natural gas and oil sales payable	1,780	595
Derivative liabilities	397	132
Total current liabilities	15,462	5,155
Note payable	91,000	30,339
Asset retirement obligations	2,920	974
Derivative liabilities	204	68
Total non-current liabilities	94,124	31,381
Total liabilities	109,586	36,536
Members equity
Members’ equity	365,046	121,706
Accumulated deficit	(6,571)	(2,191)
Total members’ equity	358,475	119,515
Total liabilities and members’ equity	$468,061	$156,051