Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") (Tables)

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") (Tables)

3 Months Ended

Mar. 31, 2015

INVESTMENT IN AL MASANE AL KOBRA MINING COMPANY ("AMAK") [Abstract]

Summarized Results of Operation and Financial Position for AMAK

Results of Operations

	Three Months Ended March 31,
	2015			2014
	(Thousands of Dollars)
Sales	$	5,301		$	267
Gross Profit		1,712			639
General, administrative and other expenses		2,501			2,588
Net Loss	$	(789	)	$	(1,949	)

Financial Position

	March 31,		December 31,
	2015		2014
	(Thousands of Dollars)
Current assets	$	31,420	$	17,782
Noncurrent assets		263,765		265,584
Total assets	$	295,185	$	283,366

Current liabilities	$	26,597	$	23,034
Long term liabilities		76,644		67,598
Shareholders' equity		191,944		192,734
	$	295,185	$	283,366

Equity in Income or Loss of AMAK Reflected on Consolidated Statement Of Operation

The equity in the income or loss of AMAK reflected on the consolidated statement of income for the three months ended March 31, 2015, and 2014, is comprised of the following:

	Three months ended March 31,
	2015			2014
	(Thousands of Dollars)
Company’s share of loss reported by AMAK	$	(278	)	$	(687	)
Amortization of difference between Company’s investment in AMAK and Company’s share of net assets of AMAK		337			337
Equity in income (loss) of AMAK	$	59		$	(350	)