Annual report pursuant to Section 13 and 15(d)

Other Assets

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Other Assets
 12 Months Ended
Dec. 31, 2011
Other Assets [Abstract]  
Other Assets
6. OTHER ASSETS

Other assets consist of the following as of December 31, 2011 and 2010:

 

     December 31,  
     2011      2010  

Plugging and abandonment escrow account on the WCBB properties (Note 17)

    $ 3,121,000       $ 3,129,000   

Certificates of Deposit securing letter of credit

      275,000         275,000   

Prepaid drilling costs

      228,000         7,000   

Loan commitment fees

      1,495,000         767,000   

Deposits

      4,000         4,000   
  

 

 

     

 

 

  
   $ 5,123,000       $ 4,182,000