| ASSETS |
| Cash and cash equivalents |
21.38M |
| Accounts receivable, net of allowance for doubtful accounts of $561 and $571, respectively |
10.7M |
| Commodity derivative contracts |
2.26M |
| Prepaid expenses |
616K |
| Total current assets |
34.95M |
| PROPERTY, PLANT AND EQUIPMENT: |
| Unproved properties, excluded from amortization |
| Proved properties |
769.05M |
| Total natural gas and oil properties |
871.39M |
| Furniture and equipment |
2.41M |
| Total property, plant and equipment |
873.8M |
| Accumulated depreciation, depletion and amortization |
-506.19M |
| Total property, plant and equipment, net |
367.61M |
| OTHER ASSETS: |
| Restricted cash |
| Commodity derivative contracts |
7.4M |
| Deferred charges, net |
| Advances to operators and other assets |
12.31M |
| Total other assets |
21.84M |
| TOTAL ASSETS |
424.4M |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
| Accounts payable |
5.61M |
| Revenue payable |
12.06M |
| Accrued interest |
6.47M |
| Accrued drilling and operating costs |
2.73M |
| Advances from non-operators |
12.95M |
| Commodity derivative contracts |
794K |
| Commodity derivative premium payable |
1.82M |
| Accrued litigation settlement liability |
| Other accrued liabilities |
8.32M |
| Total current liabilities |
51.5M |
| LONG-TERM LIABILITIES: |
| Long-term debt |
| Commodity derivative contracts |
0 |
| Commodity derivative premium payable |
7.65M |
| Accrued litigation settlement liability |
| Asset retirement obligation |
8.01M |
| Total long-term liabilities |
210.49M |
| Commitments and contingencies (Note 12) |
0 |
| SHAREHOLDERS' EQUITY: |
| Common stock, value |
306.59M |
| Additional paid-in capital |
| Accumulated deficit |
-251.48M |
| Total shareholders' equity |
85.64M |
| Non-controlling interest: |
| Preferred stock of subsidiary, aggregate liquidation preference $16,268 and $0 at June 30, 2011 and December 31, 2010, respectively |
76.77M |
| Total equity |
162.41M |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
424.4M |
| ASSETS |
| Cash and cash equivalents |
21.36M |
| Accounts receivable, net of allowance for doubtful accounts of $561 and $571, respectively |
10.7M |
| Commodity derivative contracts |
2.26M |
| Prepaid expenses |
587K |
| Total current assets |
34.9M |
| PROPERTY, PLANT AND EQUIPMENT: |
| Unproved properties, excluded from amortization |
| Proved properties |
769.05M |
| Total natural gas and oil properties |
871.38M |
| Furniture and equipment |
2.41M |
| Total property, plant and equipment |
873.79M |
| Accumulated depreciation, depletion and amortization |
-506.18M |
| Total property, plant and equipment, net |
367.61M |
| OTHER ASSETS: |
| Restricted cash |
| Commodity derivative contracts |
7.4M |
| Deferred charges, net |
| Advances to operators and other assets |
12.31M |
| Total other assets |
21.84M |
| TOTAL ASSETS |
424.36M |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
| Accounts payable |
5.61M |
| Revenue payable |
12.06M |
| Accrued interest |
6.47M |
| Accrued drilling and operating costs |
2.73M |
| Advances from non-operators |
12.95M |
| Commodity derivative contracts |
794K |
| Commodity derivative premium payable |
1.82M |
| Accrued litigation settlement liability |
| Other accrued liabilities |
7.97M |
| Total current liabilities |
51.16M |
| LONG-TERM LIABILITIES: |
| Long-term debt |
| Commodity derivative contracts |
0 |
| Commodity derivative premium payable |
7.65M |
| Accrued litigation settlement liability |
| Asset retirement obligation |
8M |
| Due to parent |
34.81M |
| Total long-term liabilities |
245.29M |
| Commitments and contingencies (Note 12) |
0 |
| SHAREHOLDERS' EQUITY: |
| Preferred stock, $0.01 par value; 10,000,000 shares authorized; 650,728 and 0 shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively, with liquidation preference of $25.00 per share |
40K |
| Common stock, value |
225.43M |
| Additional paid-in capital |
| Accumulated deficit |
-174.29M |
| Total shareholders' equity |
127.92M |
| Non-controlling interest: |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY |
424.36M |
