Note 2 - Current Liabilities

6 Months Ended

Jun. 30, 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 on June 30, 2022 and December 31, 2021:

	June 30,		December 31,
	2022		2021
Accounts Payable:
Production and related other	$	2,232,344	$	2,108,366
Other		188,361		193,789
Total accounts payable	$	2,420,705	$	2,302,155
Accrued Expenses:
Repurchase of Units	$	304,599	$	-
Payroll and retirement plan contributions		295,099		671,031
Current portion of asset retirement obligations		80,000		122,000
Other general and administrative		33,400		55,441
Federal, state and local taxes		23,625		35,990
Total accrued expenses	$	736,723	$	884,462