F. NOTES PAYABLE

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

NOTES PAYABLE

NOTE F – NOTES PAYABLE

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

	2019			2018
Bank Debt		245			289
Deferred Borrowing Costs	$	(24	)	$	(29	)
	$	221		$	260

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, 2019 are as follows (in thousands):

2019		44
2020		36
2021		32
2022		29
2023		26
Thereafter		78
	$	245
Deferred borrowing costs		(24	)
	$	221