(3) Investments in Piceance Energy: Summary of Income Statement of Equity Investment (Tables)

9 Months Ended

Sep. 30, 2013

Tables/Schedules

Summary of Income Statement of Equity Investment

Summarized income statement information and our share for the period for which our investment was accounted for under the equity method is as follows:

	Three Months Ended September 30, 2013
	100%			Our Share
	(Unaudited)
	(in thousands)
Natural gas, oil and natural gas liquids revenues	$	14,622		$	4,875
Natural gas and oil operating expenses		7,416			2,473
Depletion, depreciation and amortization		6,897			2,299
Management fee		1,950			650
General and administrative		447			149
Total operating expenses		16,710			5,571
Loss from operations		(2,088	)		(696	)
Other income (expense)
Income from derivatives		106			35
Interest expense and debt issue costs		(718	)		(239	)
Other expense		(20	)		(7	)
Total other expense, net		(632	)		(211	)
Net loss	$	(2,720	)	$	(907	)

	Nine Months Ended  September 30, 2013
	100%			Our Share
	(Unaudited)
	(in thousands)
Natural gas, oil and natural gas liquids revenues	$	44,076		$	14,695
Natural gas and oil operating expenses		22,160			7,388
Depletion, depreciation and amortization		17,557			5,854
Management fee		5,850			1,950
General and administrative		2,420			807
Total operating expenses		47,987			15,999
Loss from operations		(3,911	)		(1,304	)
Other income (expense)
Income from derivatives		825			275
Interest expense and debt issue costs		(2,139	)		(713	)
Other expense		(91	)		(30	)
Total other expense, net		(1,405	)		(468	)
Net loss	$	(5,316	)	$	(1,772	)