F. NOTES PAYABLE

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

NOTES PAYABLE

NOTE F – NOTES PAYABLE

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

	2018	2017
Bank Debt	289	359
Deferred Borrowing Costs	$          (29)	$           (35)
	$          260	$           324

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, 2018 are as follows (in thousands):

2018	59
2019	46
2020	46
2021	46
2022	46
Thereafter	46
	$      289
Deferred borrowing costs	(29)
	$         260