FAIR VALUE MEASUREMENTS (Details) (USD $)			9 Months Ended
FAIR VALUE MEASUREMENTS (Details) (USD $)	Jul. 31, 2012	Oct. 31, 2011	Jul. 31, 2012 Short-term investments	Apr. 30, 2012 Short-term investments	Jul. 31, 2012 Recurring basis Level 1	Jul. 31, 2012 Recurring basis Level 2	Jul. 31, 2012 Recurring basis Level 3	Jul. 31, 2012 Recurring basis Total
Fair value measured on a recurring basis
Short-term investments					$ 380,000		$ 14,000	$ 394,000
Derivative assets	40,000	8,000				40,000		40,000
Reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy
Balance at the beginning of the period			19,000	14,000
Total gains or losses (realized or unrealized):
Included in earnings			(5,000)
Balance at the end of the period			$ 14,000	$ 14,000

Fair values as of the balance sheet date for all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments and which are expected to be converted into cash or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

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+ Details

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Trading Securities which consist of all investments in certain debt and equity securities that are bought and held principally for the purpose of selling them in the near term (thus held for only a short period of time) or for which an entity has elected the fair value option. Trading generally reflects active and frequent buying and selling, and trading securities are generally used with the objective of generating profits on short-term differences in price, but this category of investments may also include items which are not intended to be sold in the near term or for which the fair value option has been elected.

+ References+ Details

CREDO PETROLEUM CORP 10-Q