Note 2 - Current Liabilities

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Note 2. Current Liabilities

The Company's accounts payable and accrued expenses consist of the following at December 31:

	2024		2023
Accounts Payable:
Production and related other	$	2,644,137	$	2,698,368
Other		70,103		78,178
Total accounts payable	$	2,714,240	$	2,776,546
Accrued Expenses:
Payroll and retirement plan contributions	$	769,526	$	746,841
Current portion of asset retirement obligations		169,000		216,000
Federal, state and local taxes		35,867		36,083
Other general and administrative		22,700		12,800
Total accrued expenses	$	997,093	$	1,011,724