Note 2 - Current Liabilities

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note 2. Current Liabilities

The Company’s current liabilities consist of the following at

March 31, 2019

and

December 31, 2018:

	March 31,		December 31,
	2019		2018
Accounts Payable:
Production and related other	$	1,739,980	$	1,522,106
Other		295,929		299,150
Joint venture partner deposits		48,629		48,629
Total accounts payable	$	2,084,538	$	1,869,885
Accrued Expenses:
Current portion of asset retirement obligations	$	196,000	$	196,000
Other		137,800		55,100
Payroll and retirement plan contributions		137,707		692,083
Drilling		106,100		106,100
Federal, state and local taxes		12,555		35,064
Total accrued expenses	$	590,162	$	1,084,347