Note 2 - Current Liabilities

12 Months Ended

Dec. 31, 2019

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:

	2019		2018
Accounts Payable:
Production and related other	$	1,768,723	$	1,522,106
Other		304,488		299,150
Joint venture partner deposits		63,379		48,629
Total accounts payable	$	2,136,590	$	1,869,885
Accrued Expenses:
Payroll and retirement plan contributions	$	651,856	$	692,083
Current portion of asset retirement obligations		581,000		196,000
Drilling		96,419		106,100
Other		60,300		55,100
Federal, state and local taxes		35,917		35,064
Total accrued expenses	$	1,425,492	$	1,084,347