Credo Petroleum Corp (CRED) Balance Sheet

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Cash and cash equivalents	2.26M
Short-term investments	394K
Accrued oil and gas sales	4.91M
Trade	3.82M
Derivative assets	40K
Other current assets	617K
Total current assets	12.04M
Unevaluated oil and gas properties	11.51M
Evaluated oil and gas properties	129.27M
Less: accumulated depreciation, depletion and amortization of oil and gas properties	-66.88M
Net oil and gas properties, at cost, using full cost method	73.91M
Intangible assets, net of accumulated amortization of $1,198,000 in 2011 and $872,000 in 2010	2.82M
Compressor and tubular inventory to be used in development	1.26M
Other, net	28K
Total Assets	90.05M
Accounts payable
Revenue distribution payable	981K
Accrued compensation	404K
Other accrued liabilities
Derivative liability
Income taxes payable	105K
Total current liabilities	23.52M
Deferred income taxes, net	6.15M
Non-current derivative liability
Asset retirement obligation	1.44M
Total liabilities	37.11M
Commitments:	0
Preferred stock, no par value, 5,000,000 shares authorized, none issued	0
Common stock, $.10 par value, 20,000,000 shares authorized, 10,660,000 issued	1.07M
Capital in excess of par value	31.53M
Treasury stock at cost, 619,000 shares in 2011 and 601,000 in 2010	-4.65M
Retained earnings	25M
Total stockholders' equity
Total Liabilities and Stockholders' Equity	90.05M

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