|
Note 2.
|
Current Liabilities
|
The Company’s current liabilities consist of the following on March 31, 2026 and December 31, 2025:
| |
|
March 31,
|
|
|
December 31,
|
|
| |
|
2026
|
|
|
2025
|
|
| |
|
|
|
|
|
|
|
|
|
Accounts Payable:
|
|
|
|
|
|
|
|
|
|
Production and related other
|
|
$ |
2,928,495 |
|
|
$ |
2,911,105 |
|
|
Other
|
|
|
74,881 |
|
|
|
73,087 |
|
| |
|
|
|
|
|
|
|
|
|
Total accounts payable
|
|
$ |
3,003,376 |
|
|
$ |
2,984,192 |
|
| |
|
|
|
|
|
|
|
|
|
Accrued Expenses:
|
|
|
|
|
|
|
|
|
|
Current portion of asset retirement obligations
|
|
$ |
277,000 |
|
|
$ |
242,000 |
|
|
Payroll and retirement plan contributions
|
|
|
152,526 |
|
|
|
728,134 |
|
|
Other general and adminstrative
|
|
|
66,200 |
|
|
|
25,400 |
|
|
Federal, state and local taxes
|
|
|
8,969 |
|
|
|
35,943 |
|
| |
|
|
|
|
|
|
|
|
|
Total accrued expenses
|
|
$ |
504,695 |
|
|
$ |
1,031,477 |
|
|