XML 70 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
ASSETS AND LIABILITIES HELD FOR SALE
12 Months Ended
Dec. 31, 2013
Text Block [Abstract]  
ASSETS AND LIABILITIES HELD FOR SALE

NOTE 6 - ASSETS AND LIABILITIES HELD FOR SALE

At December 31, 2012 the assets held for sale consists of $3,013,000 related to the sale of shallow wells in January 2013. The amount includes property and equipment sold which was used to maintain the shallow wells. Assets held for sale are reported as other assets in the Consolidated Balance Sheet. Liabilities held for sale at December 31, 2012, $388,005 relates to the sale of the shallow wells and consists of the Asset Retirement Obligation and settlement expenses. Liabilities held for sale are reported as long-term liabilities in the Consolidated Balance Sheet.