FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2011

Financial Instruments [Abstract]

FINANCIAL INSTRUMENTS

9.   FINANCIAL INSTRUMENTS

Fair values

The carrying value and estimated fair value of the Company's financial instruments at December 31, 2011 and 2010 are as follows:

(in thousands of $)	2011 Fair  value		2011 Carrying value		2010 Fair value		2010 Carrying value
Financial assets:
Restricted cash and investments		941		941		7,727		7,727

The estimated fair values of financial assets are as follows:

(in thousands of $)	2011 Fair value		Level 1		Level 2		Level 3
Financial assets:
Restricted cash and investments		941		941		-		-

The following methods and assumptions were used to estimate the fair value of each class of financial instrument;

Restricted cash and investments - the carrying value is a reasonable estimate of fair value.

Concentrations of risk

There is a concentration of credit risk with respect to Restricted Cash to the extent that all of the amounts are invested with The Bank of New York Mellon.