Riley Exploration Permian (REPX) 10-Q 14 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	8-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	TENGASCO INC
Entity Central Index Key	1001614
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		60,842,413

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Current [Abstract]
Cash and cash equivalents	$83	$35
Accounts receivable, less allowance for doubtful accounts of $14	615	877
Accounts receivable - related party, less allowance for doubtful accounts of $159
Inventory	688	804
Deferred tax asset-current	68	68
Other current assets	280	311
Total current assets	1,734	2,095
Restricted cash	386	386
Loan fees, net	14	18
Oil and gas properties, net (full cost accounting method)	24,935	25,413
Manufactured Methane facilities, net	1,619	1,634
Other property and equipment, net	173	200
Deferred tax asset - noncurrent	7,614	7,283
Total assets	36,475	37,029
Current liabilities
Accounts payable - trade	282	455
Accounts payable - other	159	159
Accounts payable - related party	602	590
Accrued and other current liabilities	768	759
Current maturities of long-term debt	59	65
Total current liabilities	1,870	2,028
Asset retirement obligation	2,027	2,008
Long term debt, less current maturities	921	824
Total liabilities	4,818	4,860
Commitments and contingencies (Note 11)
Stockholders' equity
Common stock, $.001 par value, authorized 100,000,000 shares, 60,842,413 shares issued and outstanding	61	61
Additional paid-in capital	55,706	55,703
Accumulated deficit	-24,110	-23,595
Total stockholders' equity	31,657	32,169
Total liabilities and stockholders' equity	$36,475	$37,029

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts	$14,000	$14,000
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	60,842,413	60,842,413
Common stock, shares outstanding	60,842,413	60,842,413
Related Party [Member]
Allowance for doubtful accounts	$159,000	$159,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Consolidated Statements Of Operations [Abstract]
Revenues	$1,634	$3,505
Cost and expenses
Production costs and taxes	1,202	1,399
Depreciation, depletion, and amortization	732	703
General and administrative	554	693
Total cost and expenses	2,488	2,795
Net income (loss) from operations	-854	710
Other income (expense)
Interest expense	-12	-31
Gain on sale of assets	20	18
Total other income (expenses)	8	-13
Income (loss) from operations before income tax	-846	697
Deferred Income tax benefit (expense)	331	-273
Net income (loss)	($515)	$424
Net income (loss) per share
Basic	($0.01)	$0.01
Fully Diluted	($0.01)	$0.01
Shares used in computing earnings per share
Basic	60,842,413	60,842,413
Diluted	60,842,413	60,847,779

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Stockholders' Equity (USD $)	Common Stock [Member]	Paid In Capital [Member]	Accumulated Deficit [Member]	Total
In Thousands, except Share data
Balance, value at Dec. 31, 2014	$61	$55,703	($23,595)	$32,169
Balance, shares at Dec. 31, 2014	60,842,413			60,842,413
Net income			-515	-515
Stock based compensation		3		3
Balance, value at Mar. 31, 2015	$61	$55,706	($24,110)	$31,657
Balance, shares at Mar. 31, 2015	60,842,413			60,842,413

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net income (loss) from operations	($515)	$424
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	732	703
Amortization of loan fees-interest expense	4	4
Accretion on asset retirement obligation	31	28
Gain on sale of assets	-20	-18
Stock based compensation	3	9
Deferred tax expense	-331	273
Changes in assets and liabilities:
Accounts receivable	262	-159
Inventory and other assets	147	45
Accounts payable	28	529
Accrued and other current liabilities	10	95
Settlement on asset retirement obligation	-11	-48
Net cash provided by operating activities	340	1,885
Investing activities
Additions to oil and gas properties	-409	-479
Additions to methane project		-266
Additions to other property and equipment		-11
Proceeds from sale of other property and equipment	32	17
Net cash (used in) investing activities	-377	-739
Financing activities
Repayments of borrowings	-1,415	-2,956
Proceeds from borrowings	1,500	1,800
Net cash provided by (used in) financing activities	85	-1,156
Net change in cash and cash equivalents	48	-10
Cash and cash equivalents, beginning of period	35	54
Cash and cash equivalents, end of period	83	44
Supplemental cash flow information:
Cash interest payments	9	27
Supplemental non-cash investing and financing activities:
Financed company vehicles	28
Asset retirement obligations incurred		9
Capital expenditures included in accounts payable and accrued liabilities	$17	$363

Description_Of_Business_And_Si

Description Of Business And Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Description Of Business And Significant Accounting Policies [Abstract]
Description Of Business And Significant Accounting Policies	(1) Description of Business and Significant Accounting Policies
	Tengasco, Inc. (the Company) is a Delaware corporation. The Company is in the business of exploration for and production of oil and natural gas. The Companys primary area of exploration and production is in Kansas.
	The Companys wholly-owned subsidiary, Manufactured Methane Corporation (MMC) operates a treatment facility for the extraction of methane gas from nonconventional sources for eventual sale to natural gas customers or generation of electricity. This facility is located at the Carter Valley landfill site in Church Hill, Tennessee.
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Item 210 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation for the periods presented have been included as required by Regulation S-X, Rule 10-01. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ended December 31, 2015. It is suggested that these condensed consolidated financial statements be read in conjunction with the Companys consolidated financial statements and footnotes thereto included in the Companys Annual Report on Form 10-K for the year ended December 31, 2014.
	Principles of Consolidation
	The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after elimination of all significant intercompany transactions and balances.
	Use of Estimates
	The accompanying consolidated financial statements are prepared in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include reserve quantities and estimated future cash flows associated with proved reserves, which significantly impact depletion expense and potential impairment of oil and natural gas properties, income taxes and the valuation of deferred tax assets, stock-based compensation and commitments and contingencies. We analyze our estimates based on historical experience and other assumptions that we believe to be reasonable. While we believe that our estimates and assumptions used in preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
	Revenue Recognition
	Revenues are recognized based on actual volumes of oil, natural gas, methane, and electricity sold to purchasers at a fixed or determinable price, when delivery has occurred and title has transferred, and collectability is reasonably assured. Crude oil is stored and at the time of delivery to the purchasers, revenues are recognized. There were no natural gas imbalances at March 31, 2015 or December 31, 2014. Methane gas and electricity sales meters are located at the Carter Valley landfill site and any sales of methane or electricity are billed each month. No methane gas was sold during the quarters ended March 31, 2015 or 2014.
	Cash and Cash Equivalents
	Cash and cash equivalents include temporary cash investments with a maturity of ninety days or less at date of purchase.
	Restricted Cash
	During the 4th quarter of 2012, the Company placed $386,000 as collateral for a bond with RLI Insurance Company to appeal a civil penalty related to issuance of an Incident of Non-Compliance by the Bureau of Safety and Environmental Enforcement (BSEE) concerning one of the Hoactzin properties operated by the Company pursuant to the Management Agreement (see Note 5). At March 31, 2015 and December 31, 2014, this amount was recorded in the Consolidated Balance Sheets under Restricted cash (see Note 11).
	Inventory
	Inventory consists of crude oil in tanks and is carried at lower of cost or market value. The cost component of the oil inventory is calculated using the average per barrel cost which includes production costs and taxes, allocated general and administrative costs, depreciation, and allocated interest cost. The market component is calculated using the average March 2015 and December 2014 oil sales prices received from the Companys Kansas properties. In addition, the Company also carried equipment and materials in inventory to be used in its Kansas operation and is carried at the lower of cost or market value. The cost component of the equipment and materials inventory represents the original cost paid for the equipment and materials. The market component is based on estimated sales value for similar equipment and materials as of March 31, 2015 and December 31, 2014. The following table sets forth information concerning the Companys inventory (in thousands):
			31-Mar-15		31-Dec-14
	Oil carried at market	$	457	$	573
	Equipment and materials carried at cost		231		231
	Total inventory	$	688	$	804
	Full Cost Method of Accounting
	The Company follows the full cost method of accounting for oil and gas property acquisition, exploration, and development activities. Under this method, all costs incurred in connection with acquisition, exploration, and development of oil and gas reserves are capitalized. Capitalized costs include lease acquisition costs, seismic related costs, certain internal exploration costs, drilling, completion, and estimated asset retirement costs. The capitalized costs of oil and gas properties, plus estimated future development costs relating to proved reserves and estimated asset retirement costs which are not already included net of estimated salvage value, are amortized on the unit-of-production method based on total proved reserves. The Company has determined its reserves based upon reserve reports provided by LaRoche Petroleum Consultants Ltd. The costs of unproved properties are excluded from amortization until the properties are evaluated, subject to an annual assessment of whether impairment has occurred. The Company had unevaluated properties of $507,000 and $462,000 at March 31, 2015 and December 31, 2014, respectively. Proceeds from the sale of oil and gas properties are accounted for as reductions to capitalized costs unless such sales cause a significant change in the relationship between costs and the estimated value of proved reserves, in which case a gain or loss is recognized.
	At the end of each reporting period, the Company performs a ceiling test on the value of the net capitalized cost of oil and gas properties. This test compares the net capitalized cost (capitalized cost of oil and gas properties, net of accumulated depreciation, depletion and amortization and related deferred income taxes) to the present value of estimated future net revenues from oil and gas properties using an average price (arithmetic average of the beginning of month prices for the prior 12 months) and current cost discounted at 10% plus cost of properties not being amortized and the lower of cost or estimated fair value of unproven properties included in the cost being amortized (ceiling). If the net capitalized cost is greater than the ceiling, a write-down or impairment is required. A write-down of the carrying value of the asset is a non-cash charge that reduces earnings in the current period. Once incurred, a write-down cannot be reversed in a later period.
	Accounts Receivable
	Accounts receivable consist of uncollateralized joint interest owner obligations due within 30 days of the invoice date, uncollateralized accrued revenues due under normal trade terms, generally requiring payment within 30 days of production, and other miscellaneous receivables. No interest is charged on past-due balances. Payments made on accounts receivable are applied to the earliest unpaid items. We review accounts receivable periodically and reduce the carrying amount by a valuation allowance that reflects our best estimate of the amount that may not be collectible. An allowance was recorded at March 31, 2015 and December 31, 2014.
	The following table sets forth information concerning the Companys accounts receivable (in thousands):
			31-Mar-15			31-Dec-14
	Revenue	$	584		$	845
	Joint interest		23			24
	Other		22			22
	Allowance for doubtful accounts		(14	)		(14	)
	Total accounts receivable	$	615		$	877

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	(2) Income Taxes
	The total deferred tax asset was $7.68 million and $7.35 million at March 31, 2015 and December 31, 2014, respectively. At March 31, 2015 and December 31, 2014, the Company recorded a valuation allowance of $790,000. Although management considers the valuation allowance as of March 31, 2015 and December 31, 2014 adequate, material changes in these amounts may occur in the future based on tax audits and changes in legislation. The difference between the rate used to record tax expense and the statutory rate during the three months ended March 31, 2015 is primarily related to state income tax.

Earnings_Per_Common_Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2015
Earnings Per Common Share [Abstract]
Earnings Per Common Share	(3) Earnings per Common Share
	We report basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share which include the effect of all potentially dilutive securities unless their impact is anti-dilutive. The following are reconciliations of the numerators and denominators of our basic and diluted earnings per share, (in thousands except for share and per share amounts):
			For the Three Months Ended March 31,
			2015			2014
	Income (numerator):
	Net income (loss)	$	(515	)	$	424
	Weighted average shares (denominator):
	Weighted average shares basic		60,842,413		60,842,413
	Dilution effect of share-based compensation, treasury method		-			5,366
	Weighted average shares dilutive		60,842,413		60,847,779
	Earnings (loss) per share Basic and Dilutive:
	Basic	$	(0.01	)	$	0.01
	Dilutive	$	(0.01	)	$	0.01

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2015
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	(4) Recent Accounting Pronouncements
	In April 2015, the FASB issued ASU 2015-03 Interest Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Cost. This guidance intends to simplify U.S. GAAP by changing the presentation of debt issuance costs. Under the new standard, debt issuance costs will be presented as a reduction of the carrying amount of the related liability, rather than as an asset. This guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted for financial statements that have not been previously issued. The Company does not expect this to impact its operating results or cash flows. However, there will be a resulting reclassification of debt issuance costs from assets to a reduction of liabilities

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	(5) Related Party Transactions
	On September 17, 2007, the Company entered into a drilling program with Hoactzin Partners, L.P. (Hoactzin) for ten wells to be drilled on the Companys Kansas Properties (the Ten Well Program). Peter E. Salas, the Chairman of the Board of Directors of the Company, is the controlling person of Hoactzin. He was also at the time the sole shareholder and controlling person of Dolphin Management, Inc., the general partner of Dolphin Offshore Partners, L.P., which was the Companys largest shareholder.
	Under the terms of the Ten Well Program, Hoactzin would receive all the working interest in the ten wells in the Program, but would pay an initial fee to the Company of 25% of its working interest revenues net of operating expenses. This is referred to as a management fee but, as defined, is in the nature of a net profits interest. The fee paid to the Company by Hoactzin would increase to 85% if net revenues received by Hoactzin reached an agreed payout point (the Payout Point) for its interest in the Ten Well Program.
	On September 17, 2007, Hoactzin, simultaneously with subscribing to participate in the Ten Well Program, was conveyed a 75% net profits interest in the methane extraction project developed by MMC at the Carter Valley landfill owned by Republic Services in Church Hill, Tennessee (the "Methane Project"). Through March 31, 2015 no payments were made to Hoactzin for its net profits interest in the Methane Project, because no net profits were generated.
	In February 2014, net revenues earned by Hoactzin from the Ten Well Program reached the Payout Point which increased the management fee due to the Company by Hoactzin from 25% to 85% and reduced the net profits interest in the Methane Project from 75% to 7.5%.
	On December 18, 2007, the Company entered into a Management Agreement with Hoactzin to manage Hoactzins working interest in certain oil and gas properties located in the onshore Texas Gulf Coast, offshore Texas, and offshore Louisiana (the Management Agreement). The Management Agreement terminated by its own terms on December 18, 2012. The Company is assisting Hoactzin with becoming operator of record of these wells. The Company has entered into a transition agreement with Hoactzin whereby Hoactzin and its controlling member indemnify the Company for any costs or liabilities incurred by the Company resulting from such assistance, or the fact that the Company remains the operator of record on certain of these wells.
	During the course of the Management Agreement, the Company became the operator of certain properties owned by Hoactzin. The Company obtained from IndemCo, over time, bonds in the face amount of approximately $10.7 million for the purpose of covering plugging and abandonment obligations for Hoactzins operated properties located in federal offshore waters. In connection with the issuance of these bonds the Company signed a Payment and Indemnity Agreement whereby the Company guaranteed payment of any bonding liabilities incurred by IndemCo. Dolphin Direct Equity Partners, LP also signed the Payment and Indemnity Agreement, and was jointly and severally liable with the Company for the obligations to IndemCo. Dolphin Direct Equity Partners, L.P. is a private equity fund controlled by Peter E. Salas that has a significant economic interest in Hoactzin. As of May 15, 2014, all bonds issued by IndemCo and subject to the Payment and Indemnity Agreement were released by the BSEE and were cancelled by IndemCo. Accordingly, the exposure to the Company under any of the now cancelled IndemCo bonds or the indemnity agreement relating to those bonds has decreased to zero.
	As part of the transition to Hoactzin becoming operator of its own properties, right-of-use and easement (RUE) bonds in the amount of $1.55 million were required by the regulatory process to be issued by Argonaut in the Companys name as current operator. Hoactzin is in the process of transferring these RUE bonds from the Company to Hoactzin. Hoactzin and Dolphin Direct signed an indemnity agreement with Argonaut and provided all the collateral for the new Argonaut bonds, including 100% cash collateral for the RUE bonds issued in the Companys name. The Company is not party to any indemnity agreement with Argonaut and has not provided any collateral for any of the Argonaut bonds. When the transfer of the RUEs and associated bonds is approved, the transfer of operations to Hoactzin would be complete and the Companys involvement in the Hoactzin properties will be ended.
	As operator, the Company routinely contracted in its name for goods and services with vendors in connection with its operation of the Hoactzin properties. In practice, Hoactzin directly paid these invoices for goods and services that were contracted in the Companys name. As a result of operations performed in late 2009 and early 2010, Hoactzin had significant past due balances to several vendors, a portion of which were included on the Companys balance sheet. Payables related to these past due and ongoing operations remained outstanding at March 31, 2015 and December 31, 2014 in the amount of $159,000. The Company has recorded the Hoactzin-related payables and the corresponding receivable from Hoactzin as of March 31, 2015 and December 31, 2014 in its Consolidated Balance Sheets under Accounts payable other and Accounts receivable related party. However, Hoactzin had not made payments to reduce the $159,000 of past due balances from 2009 and 2010 since the second quarter of 2012. Based on these circumstances, the Company has elected to establish an allowance in the amount of $159,000 for the balances outstanding at March 31, 2015 and December 31, 2014. This allowance was recorded in the Companys Consolidated Balance Sheets under Accounts receivable related party. This results in no balances recorded in the Companys Consolidated Balance Sheets under Accounts receivable related party, less allowance for doubtful accounts of $159.
	The Company has entered into an agreement with Hoactzin whereby Hoactzin and Dolphin Direct are indemnifying the Company for any costs or liabilities incurred by the Company resulting from such assistance, or the fact that the Company is still the operator of record on certain of these wells. Until such time as Hoactzin becomes operator of record on these wells, the Company is suspending drilling payments to Hoactzin. As of March 31, 2015 and December 31, 2014, the Company has suspended approximately $602,000 and $590,000 in payments, respectively. This balance of these suspended payments is recorded in the Consolidated Balance Sheet under Accounts payable related party.
	The Company has not advanced any funds to pay any obligations of Hoactzin. No borrowing capability of the Company has been used by the Company in connection with its obligations under the Management Agreement, except for those funds used to collateralize the appeal bond with RLI Insurance Company.

Oil_And_Gas_Properties

Oil And Gas Properties	3 Months Ended
	Mar. 31, 2015
Oil And Gas Properties [Abstract]
Oil And Gas Properties	(6) Oil and Gas Properties
	The following table sets forth information concerning the Companys oil and gas properties (in thousands):
			31-Mar-15			31-Dec-14
	Oil and gas properties, at cost	$	49,562		$	49,388
	Unevaluated properties		507			462
	Accumulated depletion		(25,134	)		(24,437	)
	Oil and gas properties, net	$	24,935		$	25,413
	The Company recorded depletion expense of $696,000 and $636,000 for the three months ended March 31, 2015 and 2014, respectively.

Asset_Retirement_Obligation

Asset Retirement Obligation	3 Months Ended
	Mar. 31, 2015
Asset Retirement Obligation [Abstract]
Asset Retirement Obligation	(7) Asset Retirement Obligation
	Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon, and remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following table summarizes the Companys Asset Retirement Obligation transactions for the three months ended March 31, 2015 (in thousands):
	Balance December 31, 2014	$	2,008
	Accretion expense		31
	Liabilities incurred		-
	Liabilities settled		(12	)
	Balance March 31, 2015	$	2,027

LongTerm_Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2015
Long-Term Debt [Abstract]
Long-Term Debt	(8) Long-Term Debt
	Long-term debt to unrelated entities consisted of the following (in thousands):
			31-Mar-15			31-Dec-14
	Note payable to a financial institution, with interest only
	payment until maturity.	$	843		$	734
	Installment notes bearing interest at the rate of 5.5% to
	8.25% per annum collateralized by vehicles with monthly
	payments including interest, insurance and maintenance of
	approximately $10		137			155
	Total long-term debt		980			889
	Less current maturities		(59	)		(65	)
	Long-term debt, less current maturities	$	921		$	824
	On March 16, 2015, the Companys senior credit facility with Prosperity Bank was amended to decrease the Companys borrowing base from $14.3 million to $7.8 million and extend the term of the facility to January 27, 2017. The borrowing base remains subject to the existing periodic redetermination provisions in the credit facility. The interest rate remained prime plus 0.50% per annum. The maximum line of credit of the Company under the Prosperity Bank credit facility remained $40 million. The credit facility is secured by substantially all of the Companys producing and non-producing oil and gas properties and the Companys Manufactured Methane facilities. The credit facility includes certain covenants with which the Company is required to comply. These covenants include leverage, interest coverage, and minimum liquidity ratios. The Company is in compliance with all of the credit facility covenants.
	The total borrowing by the Company under the Prosperity Bank facility at March 31, 2015 and December 31, 2014 was $843,000 and $734,000, respectively. The next borrowing base review will take place in July 2015.

Manufactured_Methane

Manufactured Methane	3 Months Ended
	Mar. 31, 2015
Manufactured Methane [Abstract]
Manufactured Methane	(9) Manufactured Methane
	The following table sets forth information concerning the Manufactured Methane facilities (in thousands):
			31-Mar-15			31-Dec-14
	Manufactured Methane facilities, at cost	$	1,634		$	1,634
	Accumulated depreciation		(15	)		-
	Manufactured Methane facilities, net	$	1,619		$	1,634
	The methane facilities were placed into service on April 1, 2009. The methane facilities are being depreciated over the estimated useful life of approximately 33 years based on estimated landfill closure date of December 2041. The Company recorded depreciation expense of $15,000 and $41,000 for the three months ended March 31, 2015 and 2014, respectively.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	(10) Fair Value Measurements
	FASB ASC 820, Fair Value Measurements and Disclosures, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC 820 are described as follows:
	Level 1 Observable inputs, such as unadjusted quoted prices in active markets, for substantially identical assets and liabilities.
	Level 2 Observable inputs other than quoted prices within Level 1 for similar assets and liabilities. These include quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. If the asset or liability has a specified or contractual term, the input must be observable for substantially the full term of the asset or liability.
	Level 3 Unobservable inputs that are supported by little or no market activity, generally requiring a significant amount of judgment by management. The assets or liabilities fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
	The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Further, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
	Upon completion of wells, the Company records an asset retirement obligation at fair value using Level 3 assumptions.
	The carrying amounts of other financial instruments including cash and cash equivalents, accounts receivable, account payables, accrued liabilities and long term debt in our balance sheet approximates fair value as of March 31, 2015 and December 31, 2014.

Commitments_And_Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments And Contingencies [Abstract]
Commitments And Contingencies	(11) Commitments and Contingencies
	The Company as designated operator of the Hoactzin properties was administratively issued an Incident of Non-Compliance by BSEE during the quarter ended September 30, 2012 concerning one of Hoactzins operated properties. This action calls for payment of a civil penalty of $386,000 for failure to provide, upon request, documentation to the BSEE evidencing that certain safety inspections and tests had been conducted in 2011. In the 4th quarter of 2012, the Company filed an administrative appeal with the Interior Board of Land Appeals (IBLA) of this action in order to attempt to significantly reduce the civil penalty. This appeal required a fully collateralized appeal bond to postpone the payment obligation until the appeal was determined. The Company posted and collateralized this bond with RLI Insurance Company. If the bond was not posted, the appeal would have been administratively denied and the order to the Company as operator to pay the $386,000 penalty would have become final. On June 23, 2014, the IBLA affirmed the civil penalty without reduction. On September 22, 2014, the Company sought judicial review of the June 23, 2014 agency action in the federal district court in the Eastern District of Louisiana at New Orleans. While the civil penalty could ultimately be reduced in the judicial review process, as a result of the determination by the IBLA, the Company recorded a liability of $386,000 in the Companys Consolidated Balance Sheets under Accrued and other current liabilities and an expense in its Consolidated Statements of Operations under Production costs and taxes for the year ended December 31, 2014. In the event any portion of the civil penalty is affirmed, the Company expects to seek reimbursement of such penalty from Hoactzin, pursuant to the terms of the Management Agreement. However, there can be no assurances that the Company would be successful in such a claim.
	No funds have been advanced by the Company to pay any obligations of Hoactzin. No borrowing capability of the Company has been used by the Company in connection with its obligations under the Management Agreement, except for those funds used to collateralize the appeal bond with RLI Insurance Company.
	During the quarter ended March 31, 2015, the Company initiated cost reduction measures including compensation reductions for each employee as well as members of the Board of Directors. These compensation reductions will remain in place until such time, if any, that the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy Information Administration meets or exceeds $70 per barrel when compensation shall revert to the levels in place before the reductions became effective. At such time, if any, that the market price of crude oil, calculated as a thirty day trailing average of WTI postings as published by the U.S. Energy Information Administration meets or exceeds $85 per barrel, all previous reductions made will be reimbursed to each employee and members of the Board of Directors if he is still employed by the Company or still a member of the Board of Directors. As of March 31, 2015, the reductions were approximately $23,000. The Company has not accrued any liabilities associated with these compensation reductions.

Description_Of_Business_And_Si1

Description Of Business And Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2015
Description Of Business And Significant Accounting Policies [Abstract]
Basis Of Presentation	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Item 210 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements, although the Company believes that the disclosures made are adequate to make the information not misleading. In the opinion of management, all adjustments (consisting of only normal recurring accruals) considered necessary for a fair presentation for the periods presented have been included as required by Regulation S-X, Rule 10-01. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ended December 31, 2015. It is suggested that these condensed consolidated financial statements be read in conjunction with the Companys consolidated financial statements and footnotes thereto included in the Companys Annual Report on Form 10-K for the year ended December 31, 2014.
Principles Of Consolidation	Principles of Consolidation
	The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries after elimination of all significant intercompany transactions and balances.
Use Of Estimates	Use of Estimates
	The accompanying consolidated financial statements are prepared in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include reserve quantities and estimated future cash flows associated with proved reserves, which significantly impact depletion expense and potential impairment of oil and natural gas properties, income taxes and the valuation of deferred tax assets, stock-based compensation and commitments and contingencies. We analyze our estimates based on historical experience and other assumptions that we believe to be reasonable. While we believe that our estimates and assumptions used in preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition
	Revenues are recognized based on actual volumes of oil, natural gas, methane, and electricity sold to purchasers at a fixed or determinable price, when delivery has occurred and title has transferred, and collectability is reasonably assured. Crude oil is stored and at the time of delivery to the purchasers, revenues are recognized. There were no natural gas imbalances at March 31, 2015 or December 31, 2014. Methane gas and electricity sales meters are located at the Carter Valley landfill site and any sales of methane or electricity are billed each month. No methane gas was sold during the quarters ended March 31, 2015 or 2014.
Cash And Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include temporary cash investments with a maturity of ninety days or less at date of purchase.
Restricted Cash	Restricted Cash
	During the 4th quarter of 2012, the Company placed $386,000 as collateral for a bond with RLI Insurance Company to appeal a civil penalty related to issuance of an Incident of Non-Compliance by the Bureau of Safety and Environmental Enforcement (BSEE) concerning one of the Hoactzin properties operated by the Company pursuant to the Management Agreement (see Note 5). At March 31, 2015 and December 31, 2014, this amount was recorded in the Consolidated Balance Sheets under Restricted cash (see Note 11).
Inventory	Inventory
	Inventory consists of crude oil in tanks and is carried at lower of cost or market value. The cost component of the oil inventory is calculated using the average per barrel cost which includes production costs and taxes, allocated general and administrative costs, depreciation, and allocated interest cost. The market component is calculated using the average March 2015 and December 2014 oil sales prices received from the Companys Kansas properties. In addition, the Company also carried equipment and materials in inventory to be used in its Kansas operation and is carried at the lower of cost or market value. The cost component of the equipment and materials inventory represents the original cost paid for the equipment and materials. The market component is based on estimated sales value for similar equipment and materials as of March 31, 2015 and December 31, 2014. The following table sets forth information concerning the Companys inventory (in thousands):
			31-Mar-15		31-Dec-14
	Oil carried at market	$	457	$	573
	Equipment and materials carried at cost		231		231
	Total inventory	$	688	$	804
Full Cost Method Of Accounting	Full Cost Method of Accounting
	The Company follows the full cost method of accounting for oil and gas property acquisition, exploration, and development activities. Under this method, all costs incurred in connection with acquisition, exploration, and development of oil and gas reserves are capitalized. Capitalized costs include lease acquisition costs, seismic related costs, certain internal exploration costs, drilling, completion, and estimated asset retirement costs. The capitalized costs of oil and gas properties, plus estimated future development costs relating to proved reserves and estimated asset retirement costs which are not already included net of estimated salvage value, are amortized on the unit-of-production method based on total proved reserves. The Company has determined its reserves based upon reserve reports provided by LaRoche Petroleum Consultants Ltd. The costs of unproved properties are excluded from amortization until the properties are evaluated, subject to an annual assessment of whether impairment has occurred. The Company had unevaluated properties of $507,000 and $462,000 at March 31, 2015 and December 31, 2014, respectively. Proceeds from the sale of oil and gas properties are accounted for as reductions to capitalized costs unless such sales cause a significant change in the relationship between costs and the estimated value of proved reserves, in which case a gain or loss is recognized.
	At the end of each reporting period, the Company performs a ceiling test on the value of the net capitalized cost of oil and gas properties. This test compares the net capitalized cost (capitalized cost of oil and gas properties, net of accumulated depreciation, depletion and amortization and related deferred income taxes) to the present value of estimated future net revenues from oil and gas properties using an average price (arithmetic average of the beginning of month prices for the prior 12 months) and current cost discounted at 10% plus cost of properties not being amortized and the lower of cost or estimated fair value of unproven properties included in the cost being amortized (ceiling). If the net capitalized cost is greater than the ceiling, a write-down or impairment is required. A write-down of the carrying value of the asset is a non-cash charge that reduces earnings in the current period. Once incurred, a write-down cannot be reversed in a later period.
Accounts Receivable	Accounts Receivable
	Accounts receivable consist of uncollateralized joint interest owner obligations due within 30 days of the invoice date, uncollateralized accrued revenues due under normal trade terms, generally requiring payment within 30 days of production, and other miscellaneous receivables. No interest is charged on past-due balances. Payments made on accounts receivable are applied to the earliest unpaid items. We review accounts receivable periodically and reduce the carrying amount by a valuation allowance that reflects our best estimate of the amount that may not be collectible. An allowance was recorded at March 31, 2015 and December 31, 2014.
	The following table sets forth information concerning the Companys accounts receivable (in thousands):
			31-Mar-15			31-Dec-14
	Revenue	$	584		$	845
	Joint interest		23			24
	Other		22			22
	Allowance for doubtful accounts		(14	)		(14	)
	Total accounts receivable	$	615		$	877

Description_Of_Business_And_Si2

Description Of Business And Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2015
Description Of Business And Significant Accounting Policies [Abstract]
Inventory
			31-Mar-15		31-Dec-14
	Oil carried at market	$	457	$	573
	Equipment and materials carried at cost		231		231
	Total inventory	$	688	$	804
Accounts Receivable
			31-Mar-15			31-Dec-14
	Revenue	$	584		$	845
	Joint interest		23			24
	Other		22			22
	Allowance for doubtful accounts		(14	)		(14	)
	Total accounts receivable	$	615		$	877

Earnings_Per_Common_Share_Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Common Share [Abstract]
Reconciliations Of The Numerators And Denominators Of Basic And Diluted Earnings Per Share
			For the Three Months Ended March 31,
			2015			2014
	Income (numerator):
	Net income (loss)	$	(515	)	$	424
	Weighted average shares (denominator):
	Weighted average shares basic		60,842,413		60,842,413
	Dilution effect of share-based compensation, treasury method		-			5,366
	Weighted average shares dilutive		60,842,413		60,847,779
	Earnings (loss) per share Basic and Dilutive:
	Basic	$	(0.01	)	$	0.01
	Dilutive	$	(0.01	)	$	0.01

Oil_And_Gas_Properties_Tables

Oil And Gas Properties (Tables)	3 Months Ended
	Mar. 31, 2015
Oil And Gas Properties [Abstract]
Schedule Of Oil And Gas Properties
			31-Mar-15			31-Dec-14
	Oil and gas properties, at cost	$	49,562		$	49,388
	Unevaluated properties		507			462
	Accumulated depletion		(25,134	)		(24,437	)
	Oil and gas properties, net	$	24,935		$	25,413

Asset_Retirement_Obligation_Ta

Asset Retirement Obligation (Tables)	3 Months Ended
	Mar. 31, 2015
Asset Retirement Obligation [Abstract]
Asset Retirement Obligation Transactions
	Balance December 31, 2014	$	2,008
	Accretion expense		31
	Liabilities incurred		-
	Liabilities settled		(12	)
	Balance March 31, 2015	$	2,027

LongTerm_Debt_Tables

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2015
Long-Term Debt [Abstract]
Schedule Of Long-Term Debt To Unrelated Entities
			31-Mar-15			31-Dec-14
	Note payable to a financial institution, with interest only
	payment until maturity.	$	843		$	734
	Installment notes bearing interest at the rate of 5.5% to
	8.25% per annum collateralized by vehicles with monthly
	payments including interest, insurance and maintenance of
	approximately $10		137			155
	Total long-term debt		980			889
	Less current maturities		(59	)		(65	)
	Long-term debt, less current maturities	$	921		$	824

Manufactured_Methane_Tables

Manufactured Methane (Tables)	3 Months Ended
	Mar. 31, 2015
Manufactured Methane [Abstract]
Methane Facilities
			31-Mar-15			31-Dec-14
	Manufactured Methane facilities, at cost	$	1,634		$	1,634
	Accumulated depreciation		(15	)		-
	Manufactured Methane facilities, net	$	1,619		$	1,634

Description_Of_Business_And_Si3

Description Of Business And Significant Accounting Policies (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2012
Description Of Business And Significant Accounting Policies [Line Items]
material natural gas imbalances	$0		$0
Methane gas revenue	0	0
Restricted cash	386,000		386,000
Unevaluated properties	507,000		462,000
Collateralized Bond [Member]
Description Of Business And Significant Accounting Policies [Line Items]
Restricted cash				$386,000

Description_Of_Business_And_Si4

Description Of Business And Significant Accounting Policies (Inventory) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Description Of Business And Significant Accounting Policies [Abstract]
Oil carried at market	$457	$573
Equipment and materials - carried at cost	231	231
Total inventory	$688	$804

Description_Of_Business_And_Si5

Description Of Business And Significant Accounting Policies (Accounts Receivable) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts	($14)	($14)
Total accounts receivable	615	877
Revenue [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	584	845
Joint Interest [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	23	24
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$22	$22

Income_Taxes_Details

Income Taxes (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Income Taxes [Abstract]
Deferred tax asset	$7,680,000	$7,350,000
Valuation allowance	$790,000	$790,000

Earnings_Per_Common_Share_Deta

Earnings Per Common Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Common Share [Abstract]
Net income (loss)	($515)	$424
Weighted average shares - basic	60,842,413	60,842,413
Dilution effect of share-based compensation, treasury method		5,366
Weighted average shares - dilutive	60,842,413	60,847,779
Basic	($0.01)	$0.01
Dilutive	($0.01)	$0.01

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	1 Months Ended	0 Months Ended		3 Months Ended
	Feb. 28, 2014	Sep. 17, 2007	Sep. 17, 2007	Mar. 31, 2015	Dec. 31, 2014	Dec. 18, 2007	15-May-14
Productive Wells [Line Items]
Bond, face value						$10,700,000
Related party allowance for doubtful accounts receivable				14,000	14,000
Suspended portion of accounts payable				602,000	590,000
Right-Of-Use And Easement Bonds [Member]
Productive Wells [Line Items]
Bond, face value				1,550,000
Ten Well Program [Member]
Productive Wells [Line Items]
Wells in process of drilling		10	10
Percent of net profits, interest	75.00%
Ten Well Program [Member] | At Or Above Revenue Threshold [Member]
Productive Wells [Line Items]
Percent of working interest revenue, as a fee	85.00%		85.00%
Percent of net profits, interest	7.50%	75.00%
Ten Well Program [Member] | Up To Revenue Threshold [Member]
Productive Wells [Line Items]
Percent of working interest revenue, as a fee	25.00%		25.00%
Hoactzin Partners, L.P. [Member]
Productive Wells [Line Items]
Percentage of cash collateral				100.00%
Related parties accounts payable				159,000	159,000
Past due related parties accounts payable				159,000
Liability to related party				0
Hoactzin Partners, L.P. [Member] | Methane Project [Member]
Productive Wells [Line Items]
Net profits				0
Indem Co [Member]
Productive Wells [Line Items]
Liability to related party							0
Related Party [Member]
Productive Wells [Line Items]
Related party allowance for doubtful accounts receivable				159,000	159,000
Related Party [Member] | Hoactzin Partners, L.P. [Member]
Productive Wells [Line Items]
Related party allowance for doubtful accounts receivable				$159,000

Oil_And_Gas_Properties_Details

Oil And Gas Properties (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Oil And Gas Properties [Abstract]
Oil and gas properties, at cost	$49,562,000		$49,388,000
Unevaluated properties	507,000		462,000
Accumulated depletion	-25,134,000		-24,437,000
Oil and gas properties, net	24,935,000		25,413,000
Depletion expense	$696,000	$636,000

Asset_Retirement_Obligation_De

Asset Retirement Obligation (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Asset Retirement Obligation [Abstract]
Balance	$2,008
Accretion expense	31	28
Liabilities incurred
Liabilities settled	-12
Balance	$2,027

LongTerm_Debt_Narrative_Detail

Long-Term Debt (Narrative) (Details) (Prosperity Bank [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 16, 2015	Mar. 15, 2015	Dec. 31, 2014
Prosperity Bank [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$40,000,000
Borrowing base			14,300,000
Decreased borrowing base		7,800,000
Rate above prime	0.50%
Credit facility maturity date	27-Jan-17
Loans and letters of credit amount outstanding	$843,000			$734,000

LongTerm_Debt_Schedule_Of_Long

Long-Term Debt (Schedule Of Long-Term Debt To Unrelated Entities) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Note payable to financial institution, with interest only payment until maturity	$843	$734
Installment notes bearing interest at the rate of 5.5% to 8.25% per annum collateralized by vehicles with monthly payments including interest, insurance and maintenance of approximately $10	137	155
Total long-term debt	980	889
Less current maturities	-59	-65
Long-term debt, less current maturities	921	824
Periodic payments including interest, insurance and maintenance	$10
Maximum [Member]
Debt Instrument [Line Items]
Interest rate per annum	8.25%
Minimum [Member]
Debt Instrument [Line Items]
Interest rate per annum	5.50%

Manufactured_Methane_Details

Manufactured Methane (Details) (Methane Project [Member], USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Methane Project [Member]
Methane Project [Line Items]
Date methane facilities were placed into service	1-Apr-09
Landfill closure date	1-Dec-41
Methane facilities estimated useful life	33 years
Depreciation expense	$15,000	$41,000

Manufactured_Methane_Manufactu

Manufactured Methane (Manufactured Methane Facilities) (Details) (Methane Project [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Methane Project [Member]
Property, Plant and Equipment [Line Items]
Manufactured Methane facilities, at cost	$1,634	$1,634
Accumulated depreciation	-15
Manufactured Methane facilities, net	$1,619	$1,634

Commitments_And_Contingencies_

Commitments And Contingencies (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Loss Contingencies [Line Items]
Production costs and taxes	$1,202,000	$1,399,000
Decrease in compensation	-23,000
Incidence Of Non-Compliance [Member]
Loss Contingencies [Line Items]
Wells issued incidence of non-compliance	1
Maximum potential loss	386,000
Production costs and taxes	$386,000
Minimum [Member]
Loss Contingencies [Line Items]
Compensation reduction until WTI posting	70
Compensation reimbursement at WTI posting	85