Note 2 - Current Liabilities

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

N ote 2. Current Liabilities

The Company's accounts payable and accrued expenses consist of the following at

December 31:

	2018		2017
Accounts Payable:
Production and related other	$	1,522,106	$	1,615,606
Other		299,150		295,507
Joint venture partner deposits		48,629		46,929
Total accounts payable	$	1,869,885	$	1,958,042
Accrued Expenses:
Current portion of asset retirement obligations	$	196,000	$	775,000
Payroll and retirement plan contributions		692,083		664,384
Drilling		106,100		106,100
Other		55,100		45,600
Federal, state and local taxes		35,064		33,121
Total accrued expenses	$	1,084,347	$	1,624,205