Note 11 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2024			2023
	(in thousands)
Current:
Federal	$	-		$	-
State		36			(9	)
Total current income tax	$	36		$	(9	)
Deferred:
Federal	$	456		$	(351	)
State		(472	)		(531	)
Total deferred income taxes	$	(16	)	$	(882	)
Total income tax expense (benefit)	$	20		$	(891	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2024			2023
	(in thousands)
Income tax benefit at federal statutory rate (21%)	$	(5,410	)	$	(6,982	)
State income tax benefit, net of federal benefit		(444	)		(541	)
Compensation		155			224
Other		13			(284	)
Change in valuation allowance		5,705			6,692
Income tax expense (benefit)	$	20		$	(891	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2024			2023
	(in thousands)
Deferred tax assets:
Net operating loss carryover	$	9,787		$	9,012
Property and equipment		6,781			1,244
Percentage depletion and contribution carryovers		1,988			1,987
Deferred compensation liability		188			150
Asset retirement obligations		3,215			4,220
Stock-based compensation		379			428
Lease obligations		138			179
Other		220			212
Total deferred tax assets		22,695			17,432
Deferred tax liabilities:
Derivatives		-			(421	)
Lease assets		(119	)		(156	)
Total deferred tax liabilities		(119	)		(577	)
Net deferred tax assets		22,576			16,855
Less valuation allowance		(22,576	)		(16,871	)
Net deferred tax liability		-		$	(16	)