Note 11 - Commitments

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE

11

– COMMITMENTS

Effective

November 1, 2018,

the Company entered into an employment contract with the President and CFO of the Company. The President will receive an annual salary of

$120,000,

increasing

10%

per year for

five

years. In addition, the employee will receive

$750

per month for health insurance, will receive a year-end bonus of

25,000

shares of the Company stock and will receive a

.03125%

overriding royalty interest in each future producing well. As of

December 31, 2018,

the Company had

$185,537

accrued related to this contract including the value of the

25,000

shares (

$162,500

) which had

not

been issued by

December 31, 2018.