E. NOTES PAYABLE

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

NOTES PAYABLE

Notes payable is comprised of the following (in thousands):

	2017			2016
Bank Debt		359			432
Deferred Borrowing Costs	$	(35	)	$	(40	)
	$	324		$	392

Bank debt represent loans from a bank to finance drilling and equipment at the Company’s oil and gas operation. The interest rate ranges from 5% to 5 ½ %. The loans are collateralized by the Company’s oil & gas leases as well as real property and equipment.

Aggregate annual principal maturities of long-term debt at December 31, 2017 are as follows (in thousands):

2018		81
2019		58
2020		55
2021		55
2022		55
Thereafter		55
	$	359
Deferred borrowing costs		(35	)
	$	324