Note 2 - Current Liabilities

6 Months Ended

Jun. 30, 2025

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, 2025 and December 31, 2024:

	June 30,		December 31,
	2025		2024
Accounts Payable:
Production and related other	$	2,819,002	$	2,644,137
Other		71,303		70,103
Total accounts payable	$	2,890,305	$	2,714,240
Accrued Expenses:
Payroll and retirement plan contributions	$	300,052	$	769,526
Current portion of asset retirement obligations		121,000		169,000
Repurchase of Units		63,555		-
Other general and administrative		27,800		22,700
Federal, state and local taxes		17,972		35,867
Total accrued expenses	$	530,379	$	997,093