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Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 39 $ 22
Accounts receivable from oil and gas sales 69 73
Current portion note receivable (including $3,620 and $4,136 in 2020 and 2019 from related parties) 3,660 4,046
Other current assets 25
Total current assets 3,793 4,141
Oil and natural gas properties (full cost accounting method)    
Proved developed and undeveloped oil and gas properties, net of depletion 706 767
Property and equipment, net of depreciation    
Land, buildings and equipment - oil and gas operations 662 668
Note receicable 192 214
Total assets 5,353 5,790
Current liabilities    
Accounts payable - (including $20 and $180 due to related parties in 2020 and 2019) 195 355
Accrued expenses 37 35
Current portion of long term debt 40 44
Total current liabilities 272 434
Long-term debt    
Notes payable less current portion 161 177
Asset retirement obligation 2,745 2,770
Total liabilities 3,178 3,381
Stockholders' equity    
Preferred stock, Series B 1 1
Common stock $.01 par value; authorized, 100,000,000 shares; issued and outstanding, 5,131,934 and 2,036,935 shares at June 30, 2020 and December 31, 2019 51 51
Additional paid-in capital 63,579 63,579
Accumulated deficit (61,456) (61,222)
Total shareholder equity 2,175 2,409
Total liabilities & equity $ 5,353 $ 5,790