Note 6 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

Note 6 . Commitments and Contingencies

The Company has multiple contracts with the Major Gas Purchaser which obligate the Major Gas Purchaser to purchase, and the Company to sell and deliver, certain quantities of natural gas production from the Company’s oil and gas properties throughout the contract periods. Management believes the Company can meet its delivery commitments based on estimated production.

The Company is party to various legal proceedings and claims in the ordinary course of its business and believes the outcome of such matters will

not

have a material adverse effect on its consolidated financial position, results of operations, or liquidity.

On

March 11, 2020,

the World Health Organization declared the outbreak of the novel strain of the coronavirus (COVID-

19

) a global pandemic.  As a result, physical and economic uncertainties have arisen which are likely to negatively impact the Company’s operations.  Other financial impacts could occur though any such potential impact is unknown at this time.