Note 2 - Current Liabilities

3 Months Ended

Mar. 31, 2022

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, 2022 and December 31, 2021:

	March 31,		December 31,
	2022		2021
Accounts Payable:
Production and related other	$	2,152,408	$	2,108,366
Other		194,639		193,789
Total accounts payable	$	2,347,047	$	2,302,155
Accrued Expenses:
Payroll and retirement plan contributions	$	147,544	$	671,031
Other general and administrative		67,100		55,441
Current portion of asset retirement obligations		65,000		122,000
Federal, state and local taxes		13,664		35,990
Total accrued expenses	$	293,308	$	884,462