Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax Expense (Benefit)

	2019			2018			2017
Computed expected tax expense (benefit)	$	(157,000	)	$	77,000		$	78,000
Miscellaneous timing differences
related to book and tax depletion
differences and the expensing of
intangible drilling costs		(9,000	)		(233,000	)		(89,000	)
NOL Carryforward		—			—			(106,000	)
Gain on sale of oil and gas properties'		193,000			303,000			235,000
Expired and surrendered leases		—			.			(74,000	)
Correction of prior year estimate		12,000			77,000			—
Expected Federal income tax expense	$	39,000		$	224,000		$	44,000

Income Tax expense (benefit) for the years ended December 31, 2019, 2018, and 2017 consisted of the following:

	2019		2018		2017
Federal income taxes	$	39,000	$	224,000	$	44,000
State income taxes		—		—		—
Current income tax provision	$	39,000	$	224,000	$	44,000

Deferred Tax

	December 31,
	2019			2018
Deferred tax assets
Depletion and amortization		152,000			282,000
Expired leasehold		145,000			134,000
Other, net		4,000			4,000
Depreciation		47,000			—
Total deferred tax assets		348,000			420,000
Deferred tax liabilities
Intangible drilling costs		(292,000	)		(482,000	)
Depreciation		—			(24,000	)
Total deferred tax liability		(292,000	)		(506,000	)
Net deferred income tax asset (payable)	$	56,000		$	(86,000	)