(3) Investments in Piceance Energy: Summary of Balance Sheet of Equity Investment (Tables)

9 Months Ended

Sep. 30, 2013

Tables/Schedules

Summary of Balance Sheet of Equity Investment

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

	September 30, 2013
		100%		Our Share
	(Unaudited)
	(in thousands)
Assets
Cash and equivalents	$	23		$	8
Accounts receivable		3,486			1,162
Prepaids and other assets		1,323			441
Total current assets		4,832			1,611
Natural gas and oil property, successful efforts method of accounting		549,327			183,146
Other real estate and land		14,314			4,772
Office furniture and equipment		3,110			1,037
Total		566,751			188,955
Less: accumulated depletion, depreciation and amortization		(107,216	)		(35,746	)
Total property and equipment, net		459,535			153,209
Deferred issue costs and other assets, net		953			318
Total assets	$	465,320		$	155,138

	September 30, 2013
		100%		Our Share
	(Unaudited)
	(in thousands)
Accounts payable and accrued liabilities	$	5,023		$	1,675
Natural gas and oil sales payable		11,041			3,681
Derivative liabilities		542			181
Total current liabilities		16,606			5,537
Note payable		90,000			30,006
Asset retirement obligations		2,959			987
Total non-current liabilities		92,959			30,993
Total liabilities		109,565			36,530
Members equity
Members’ equity		365,046			121,706
Accumulated deficit		(9,291	)		(3,098	)
Total members’ equity		355,755			118,608
Total liabilities and members’ equity	$	465,320		$	155,138