Assets and Liabilities Held For Sale	6 Months Ended
Jun. 30, 2015
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Assets and Liabilities Held For Sale	NOTE 5 — ASSETS AND LIABILITIES HELD FOR SALE On April 3, 2015, we and our wholly owned subsidiaries American Shale and Prima, along with Republic Energy Ventures, LLC, Republic Partners VIII, LLC, Republic Partners VI, LP, Republic Partners VII, LLC, and Republic Energy Operating, LLC (collectively, the “Sellers”) entered into a Purchase and Sale Agreement (the “PSA”), pursuant to which the Sellers agreed to sell certain interests located in Wetzel County, West Virginia, including 5,159 net acres held by the Company and the Company’s interest in twelve Marcellus producing wellbores, to TH Exploration, LLC (“Buyer”). The Company expected to receive approximately $47.0 million at closing, net of funds used to repurchase assets that are to be included in the sale. The Company expected to ultimately receive approximately $71.3 million in connection with the sale of its assets and the overriding royalty interests that were to be repurchased and included in the sale. The incremental funds were expected to be received upon the successful resolution of certain quiet title actions that are currently ongoing and the release of funds would be held in escrow for a time following the closing. The PSA contained customary representations, warranties and indemnities among the parties and the closing contemplated by the PSA was subject to the satisfaction of certain customary conditions as described therein. Additionally, the PSA provided the Buyer with the opportunity to terminate the agreement and receive its deposit plus reimbursement for diligence expenses in the event that certain conditions are not met. The foregoing descriptions of the PSA and the consideration payable hereunder do not purport to be complete and are qualified in their entirety by reference to the complete text of the PSA, a copy of which is attached hereto as exhibit 99.1. On July 30, 2015, the Buyer elected to formally extend the expiration date of the PSA until August 14, 2015 (the “Extension Period”). During the Extension Period, the Buyer provided notice to the Company that the PSA would terminate on August 13, 2015. The Company believes that the PSA terminated as a result of such notice. No assets were sold under the PSA. See Note 15 Subsequent Events related to sale assets. Total assets held for sale as of June 30, 2015 and December 31, 2014 were $14,164,597 and $14,301,375, respectively.

NOTE 5 — ASSETS AND LIABILITIES HELD FOR SALE

On April 3, 2015, we and our wholly owned subsidiaries American Shale and Prima, along with Republic Energy Ventures, LLC, Republic Partners VIII, LLC, Republic Partners VI, LP, Republic Partners VII, LLC, and Republic Energy Operating, LLC (collectively, the “Sellers”) entered into a Purchase and Sale Agreement (the “PSA”), pursuant to which the Sellers agreed to sell certain interests located in Wetzel County, West Virginia, including 5,159 net acres held by the Company and the Company’s interest in twelve Marcellus producing wellbores, to TH Exploration, LLC (“Buyer”). The Company expected to receive approximately $47.0 million at closing, net of funds used to repurchase assets that are to be included in the sale. The Company expected to ultimately receive approximately $71.3 million in connection with the sale of its assets and the overriding royalty interests that were to be repurchased and included in the sale. The incremental funds were expected to be received upon the successful resolution of certain quiet title actions that are currently ongoing and the release of funds would be held in escrow for a time following the closing.

The PSA contained customary representations, warranties and indemnities among the parties and the closing contemplated by the PSA was subject to the satisfaction of certain customary conditions as described therein. Additionally, the PSA provided the Buyer with the opportunity to terminate the agreement and receive its deposit plus reimbursement for diligence expenses in the event that certain conditions are not met.

The foregoing descriptions of the PSA and the consideration payable hereunder do not purport to be complete and are qualified in their entirety by reference to the complete text of the PSA, a copy of which is attached hereto as exhibit 99.1.

On July 30, 2015, the Buyer elected to formally extend the expiration date of the PSA until August 14, 2015 (the “Extension Period”). During the Extension Period, the Buyer provided notice to the Company that the PSA would terminate on August 13, 2015. The Company believes that the PSA terminated as a result of such notice. No assets were sold under the PSA. See Note 15 Subsequent Events related to sale assets.

Total assets held for sale as of June 30, 2015 and December 31, 2014 were $14,164,597 and $14,301,375, respectively.