Note 11 - Major Customers

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

NOTE

11.

Major Customers

Lion Oil Trading and Transportation, LLC (“Lion”) purchased approximately

96%

of the Company's crude oil, NGL and natural gas during the

three

months ended

March 31, 2021.

Enlink Crude Purchasing, LLC purchased approximately

88%

of the Company's crude oil, NGL and natural gas during the

three

months ended

March 31, 2020.

Based on the current demand for oil and natural gas and the availability of other purchasers, management believes the loss of these major purchasers would

not

have a material adverse effect on our financial condition and results of operations because crude oil and natural gas are fungible products with well-established markets and numerous purchasers.