Quarterly report pursuant to Section 13 or 15(d)

Other Assets

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Other Assets
 3 Months Ended
Mar. 31, 2012
Other Assets [Abstract]  
Other Assets
5.   OTHER ASSETS

Other assets consist of the following as of March 31, 2012 and December 31, 2011:

 

     March 31, 2012      December 31, 2011  

Plugging and abandonment escrow account on the WCBB properties (Note 10)

    $ 3,121,000       $ 3,121,000   

Certificates of deposit securing letter of credit

      275,000         275,000   

Prepaid drilling costs

      310,000         228,000   

Loan commitment fees

      1,383,000         1,495,000   

Deposits

      4,000         4,000   
  

 

 

     

 

 

  
   $ 5,093,000       $ 5,123,000