0001017386-21-000113.txt : 20210415 0001017386-21-000113.hdr.sgml : 20210415 20210415124935 ACCESSION NUMBER: 0001017386-21-000113 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 83 CONFORMED PERIOD OF REPORT: 20201231 FILED AS OF DATE: 20210415 DATE AS OF CHANGE: 20210415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPINDLETOP OIL & GAS CO CENTRAL INDEX KEY: 0000867038 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 752063001 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18774 FILM NUMBER: 21827948 BUSINESS ADDRESS: STREET 1: 12850 SPURLING RD. STREET 2: SUITE 200 CITY: DALLAS STATE: TX ZIP: 75230-1279 BUSINESS PHONE: 9726442581 MAIL ADDRESS: STREET 1: 12850 SPURLING RD. STREET 2: SUITE 200 CITY: DALLAS STATE: TX ZIP: 75230-1279 10-K 1 sog_2020dec31-10k.htm ANNUAL REPORT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-K

 

[ X ] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020

 

or

 

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Commission File No. 000-18774

 

SPINDLETOP OIL & GAS CO.

(Exact name of registrant as specified in its charter)

 

Texas 75-2063001
(State or other jurisdiction
of incorporation or organization)
(IRS Employer
Identification No.)
   
12850 Spurling Rd., Suite 200, Dallas, TX 75230
(Address of principal executive offices) (Zip Code)
   
(972) 644-2581
(Registrant's telephone number, including area code)
   

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on
which registered
Common Stock SPND OTC Markets - Pink

 

Securities registered pursuant to Section 12(g) of the Act: Common Stock, $0.01 par value

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [ X ]

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [ X ]

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding twelve months (or for such shorter period that the registrant was required to submit and post such files). Yes [ X ] No [ ]

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Company was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [ X ] No [ ]

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§293.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of the Form 10-K or any amendment to this Form 10-K. [ X ]

 

 

1


 
 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act (Check one):

 

Large accelerated filer  [    ] Accelerated filer                   [    ]
   
Non-accelerated filer    [    ] Smaller reporting company   [ X ]
   
Emerging growth company   [    ]

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act. Yes [ ] No [ X ]

 

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

 

$1,709,031 based upon a total of 909,059 shares held as of June 30, 2020 by persons believed to be non-affiliates of the Registrant; the basis of the calculation does not constitute a determination by the Registrant as defined in Rule 405 of the Securities Act of 1933, as amended, that such calculation, if made as of a date within 60 days of this filing, would yield a different value.

 

APPLICABLE ONLY TO REGISTRANTS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

 

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ]

 

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

 

Indicate the number of shares outstanding of each of the issuer's classes of common, as of the latest practicable date.

 

Common Stock, $0.01 par value 6,755,318
(Class) (Outstanding at April 15, 2021)

 

 

DOCUMENTS INCORPORATED BY REFERENCE

 

None

 

2


 
 

  

PART I

 

Item 1. Description of Business

 

GENERAL

 

Spindletop Oil & Gas Co. is an independent oil and gas company engaged in the exploration, development, production and acquisition of oil and natural gas; the rental of oilfield equipment; and through one of its subsidiaries, the gathering and marketing of natural gas. The terms the "Company", "We", "Us" or “Spindletop” are used interchangeably herein to refer to Spindletop Oil & Gas Co. (“Spindletop”, “SOG”) and its wholly owned subsidiaries, Spindletop Drilling Company ("SDC"), and Prairie Pipeline Co. (“PPC”).

 

The Company has focused its oil and gas operations principally in Texas, although we operate properties in six states including: Texas, Oklahoma, New Mexico, Louisiana, Alabama, and Arkansas. We operate a majority of our projects through the drilling and production phases. Our staff has a great deal of experience in the operations arena. We have traditionally leveraged the risks associated with drilling by obtaining industry partners to share in the costs.

 

In addition, the Company, through PPC, owns several miles of pipelines associated with Company operated oil and natural gas properties in Texas which are used for the gathering of natural gas. These gathering lines are located primarily in the Fort Worth Basin and are being utilized to transport the Company's natural gas as well as natural gas produced by third parties.

 

Website Access to Our Reports

 

We make available free of charge through our website, www.spindletopoil.com, our annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with the Securities and Exchange Commission. Information on our website is not a part of this report.

 

Operating Approach

 

We believe that a major attribute of the Company is its long history with, and extensive knowledge of, the Fort Worth Basin of Texas. Our technical staff has an average of over 27 years oil and gas experience, most of it in the Fort Worth Basin.

 

One of our strengths has been the ability of the Company to look at cost effective ways to grow our production. We have traditionally increased our reserve base in one of two ways. Initially, in the 1970s and 1980s, the Company obtained its production through an exploration and development drilling program focused principally in the Fort Worth Basin of North Texas. Today, the Company has retained many of these wells as producing properties and holds a large amount of acreage by production in that Basin.

 

From the 1990s through 2003, the Company took advantage of the lower product prices by cost effectively adding to its reserve base through value-priced acquisitions. We found that through selective purchases we could make producing property acquisitions that were more cost effective than drilling.

 

During this time period, the Company acquired a large number of operated and non-operated oil and gas properties in various states.

 

From 2003 through 2008, we returned our focus to a strategy of development drilling with an emphasis on our Barnett Shale acreage. Since 2009, our focus has evolved to seek value-priced acquisitions combined with the development of economically feasible drilling prospects. Currently we are continuing our efforts to acquire producing properties and develop our leasehold acreage. We are pursuing controlled growth primarily through acquisitions of good quality producing properties. With current oil and natural gas prices and high costs to produce, we believe that it is prudent to carefully evaluate all our options and make sure that each transaction can be supported in today’s price environment.

 

3


 
 

 

Strategic Business Plans

 

One of our key strategies is to attempt to maintain shareholder value through implementation of plans for selective drilling and value priced acquisitions to the extent the economics of such projects work in this low energy price environment. The Company's long-term focus is to grow its oil and natural gas production through a strategic combination of selected property acquisitions, divestitures, and a development program primarily based on developing its leasehold acreage. Additionally, the Company plans to continue to rework existing wells to increase production and reserves when feasible.

 

The Company's primary area of operation has been in the State of Texas with an emphasis in the geological province known as the Fort Worth Basin. We plan to continue to focus on operations in Texas, and we want to capitalize on our strengths which include an extensive knowledge of the various reservoirs in Texas, experience in operations in this geographic area, development of lease holdings, and utilization of existing infrastructure to minimize costs.

 

The Company will continue to generate and evaluate prospects using its own technical staff. The Company intends to fund operations primarily from cash flow generated by its operations.

 

Project Significant Areas

 

The Company owns various interests in wells located in 14 states and the Company’s operations are currently located in 6 of those states which include Alabama, Arkansas, Louisiana, Oklahoma, New Mexico and Texas.

 

The Company holds approximately 80,598 gross acres under lease in 14 states. The majority of the leases are held by production. A breakout of the Company’s leasehold acreage by geographic area is as follows:

 

   Operated  Non-Operated        Percent
   Properties  Properties  Total  of Total
   Gross  Net  Gross  Net  Gross  Net  Gross  Net
Geographic Area  Acres  Acres  Acres  Acres  Acres  Acres  Acres  Acres
North Texas (1)   6,117    5,706    6,759    334    12,876    6,040    15.99%   33.18%
East Texas   3,200    2,793    7,781    816    10,981    3,609    13.62%   19.82%
Gulf Coast Texas   40    35    2,250    65    2,290    100    2.84%   0.55%
West Texas   1,075    979    2,870    225    3,945    1,204    4.89%   6.61%
Texas Panhandle   1,760    1,216    1,440    99    3,200    1,315    3.97%   7.22%
Alabama   1,160    634    2,498    169    3,658    803    4.54%   4.41%
Arkansas   1,286    1,141    2,957    109    4,243    1,250    5.26%   6.86%
Louisiana   195    144    3,058    213    3,253    357    4.04%   1.96%
New Mexico   2,276    1,827    796    29    3,072    1,856    3.81%   10.19%
Oklahoma   317    197    26,071    536    26,388    733    32.74%   4.03%
Colorado   —      —      240    —      240    —      0.30%   0.00%
Kansas   —      —      640    184    640    184    0.79%   1.01%
Michigan   —      —      240    6    240    6    0.30%   0.03%
Mississippi   —      —      140    6    140    6    0.17%   0.03%
Montana   —      —      10    2    10    2    0.01%   0.01%
North Dakota   —      —      1,102    137    1,102    137    1.37%   0.75%
Utah   —      —      2,520    473    2,520    473    3.13%   2.60%
Wyoming   —      —      1,800    134    1,800    134    2.23%   0.74%
                                         
Total   17,426    14,672    63,172    3,537    80,598    18,209    100.00%   100.00%
                                         
(1) North Texas includes the Fort Worth Basin & Bend Arch

 

 

The majority of the Company’s net acres (67.38%) are located in Texas.

 

4


 
 

A breakout of the Company's most significant oil and gas reserves by geographic area is as follows:

 

 

   BOE  % Total
North Texas including the Fort Worth Basin & Bend Arch   416,995    66.17%
East Texas   116,482    18.48%
Panhandle Texas   28,030    4.45%
West Texas   6,306    1.00%
Gulf Coast Texas   1,717    0.27%
Total Texas   569,530    90.38%
           
Alabama   47,642    7.56%
Oklahoma   6,990    1.11%
New Mexico   3,320    0.53%
Louisiana   2,450    0.39%
Montana   216    0.03%
Total Other States   60,618    9.62%
Total   630,148    100.00%

 

 

North Texas - Fort Worth Basin & Bend Arch

 

The Fort Worth Basin-Bend Arch Province has been a focal point of the Company since its inception. Our technical personnel have an average of over 27 years of exploration, drilling, completing, and production experience extracting natural gas and oil from both conventional and unconventional hydrocarbon deposits found across the basin. Furthermore, the Company maintains comprehensive and extensive dossiers of geologic and engineering data gathered from the province.

 

The Fort Worth Basin-Bend Arch Province is a major United States onshore natural gas-prone expanse containing multiple pay zones that range in depth from one thousand to nine thousand (1,000-9,000) feet. Improved technical advances in fracturing and stimulation technologies have helped unlock natural gas and oil reserves from the hydrocarbon bearing Barnett Shale Formation; and thus, continue to bolster vigorous exploration and development activities that target these conventional and unconventional reservoir reserves throughout the province.

 

The Barnett Shale is a thick natural gas and oil bearing stratigraphic zone found throughout the Fort Worth Basin-Bend Arch Province. The natural gas reserves in place are significant; however, because of the extreme low permeability character of the shales, it has been technically challenging to produce these reserves. According to the United States Geological Survey assessment, an estimated 26.7 trillion cubic feet (TCF) of undiscovered natural gas, 98.5 MMBO of undiscovered oil, as well as a mean of 1.1 BBNGL of undiscovered natural gas liquids reserves remain within the 54,000 square mile Fort Worth Basin-Bend Arch Province. More than 98 percent or approximately 26.2 TCF of the undiscovered natural gas is contained in the organic-rich Mississippian Barnett Shale. Combined, recent advances in hydraulic fracturing, completion procedures, and improvements in pump technology, as well as refined horizontal well drilling technologies, continue to enable the economic recovery of natural gas and oil reserves from tight low-permeability reservoirs found throughout the Fort Worth Basin-Bend Arch Province. Undiscovered conventional reservoir natural gas reserves are estimated to be 467 billion cubic feet of gas (BCFG), the majority of which is dissolved in conventional oil accumulations (source: United States Geological Survey Energy Resource Program).

 

The Company has 12,876 gross acres under lease across the prolific Fort Worth Basin-Bend Arch Province, the majority of which is held by production from the more shallow producing zones. The Company uses recent and emerging technologies, as well as proven industry practices, to develop and produce oil and natural gas from its properties. Additionally, the Company has a dedicated and well-trained team of employees and professional staff that continually seek out low-risk profitable drilling and acquisition opportunities throughout the Fort Worth Basin-Bend Arch Province.

 

5


 
 

 

North Texas

 

Effective January 1, 2020, the Company acquired additional working interests of 2.00% with net revenue interests of 1.50% in seven of its operated Olex wells located in the Newark East Barnett Block of Denton County, Texas. The Company’s working interests range from 58.75% to 60.00% with net revenue interests ranging from 43.75% to 45.00%, after the addition of these interests.

 

Effective January 1, 2020, the Company sold eleven of its operated wells. Seven of the wells were located in Palo Pinto County, Texas with working interests ranging from 100% to 89%. Three of the wells were located in Jones County, Texas with working interests ranging from 100% to 77%. One of the wells was located in Comanche County, Texas with a working interest of 78.42%.

 

West Texas

 

Effective March 1, 2020, the Company acquired additional working interests of 3.281% with a net revenue interest of 2.567% in its operated Weise 28-1 well located in Wheeler Co., Texas. The acquisition brings the Company’s total working interest in the well to 36.446% with a net revenue interest of 29.187%.

 

Effective May 1, 2020, the Company acquired additional working interest of 6.05% with a net revenue interest of 4.84% in its operated Opal #1 well located in Martin Co., Texas. The acquisition brings the Company’s total working interest in the well to 61.908% with a net revenue interest of 49.527%.

 

Effective December 31, 2020, the Company acquired additional working interest of 2.13% with net revenue interest of 1.59% in its Pope #4H well located in the Spearman, SE block of Ochiltree County, Texas. The acquisition brings the Company’s total working interest in the well to 34.5% with a net revenue interest of 25.875%.

 

East Texas

 

Effective December 1, 2020, the Company acquired additional working interest of 1.00% with net revenue interest of 0.83% in its Maude Albrecht #2 well located in the Centerville East block of Leon County, Texas.

The acquisition brings the Company’s total working interest in the well to 72.5% with a net revenue interest of 60.417%.

 

 

Oklahoma

 

Effective January 1, 2020, the Company acquired additional working interests of 7.5% with net revenue interests of 5.93% in its operated Cook 1-17 well located in Harper County, Oklahoma. The acquisition brings the Company’s total working interest in the well to 68.40% with a net revenue interest of 54.01%.

 

 

6


 
 

  

Oil and Natural Gas Reserves

 

The Company’s net proved oil and natural gas reserves have been estimated by Company personnel. (See footnote 18 to the financial statements). No separate independent reserve report analysis has been prepared by an independent third party.

 

The net proved crude oil and natural gas reserves of the Company as of December 31, 2020 were 144,700 barrels of oil and condensate and 2.913 BCF of natural gas. Based on SEC guidelines, the reserves were classified as follows:

 

   Barrels
of Oil
  BCF
Gas
Proved Developed Producing   144,700    2.913 
Proved Developed Non-Producing   —      —   
Proved Undeveloped   —      —   
Total Proved Reserves   144,700    2.913 

 

 

 

Only reserves that fell within the Proved classification were considered. Other categories such as Probable or Possible Reserves were not considered. No value was given to the potential future development of behind pipe reserves, untested fault blocks, or the potential for deeper reservoirs underlying the Company's properties. Shut-in, uneconomic wells, and insignificant non-operated interests were excluded.

 

On a BOE (barrel of oil equivalent) basis (6 MCF/BOE), the net reserves are:

 

 

   Barrels of Oil
Equivalent
(BOE)
   
       
Natural Gas Reserves   485,448    77%
Oil Reserves   144,700    23%
Total Reserves   630,148    100%
           
Proved Developed Producing   630,148    100%
Proved Developed Non-Producing   —      0%
Proved Undeveloped   —      0%
Total Proved Reserves   630,148    100%

  

The Company has operational control over the majority of these reserves and can therefore to a large extent control the timing of development and production. 

 

   Barrels of Oil
Equivalent
(BOE)
   
       
Operated Wells   503,210    80%
Non-Operated Wells   126,938    20%
Total   630,148    100%

  

Financial Information Relating to Industry Segments

 

The Company has three identifiable business segments: (1) exploration, acquisition, development and production of oil and natural gas, (2) natural gas gathering, and (3) commercial real estate investment. Footnote 15 to the Consolidated Financial Statements filed herein sets forth the relevant information regarding revenues, income from operations, and identifiable assets for these segments. 

 

7


 
 

Narrative Description of Business

 

The Company is engaged in the exploration, development, acquisition and production of oil and natural gas, and the gathering and marketing of natural gas. The Company is also engaged in commercial real estate leasing through leasing office space to non-related third-party tenants in the Company’s corporate headquarters office building.

 

 

Principal Products, Distribution and Availability

 

The principal products marketed by the Company are crude oil and natural gas which are sold to major oil and gas companies, brokers, pipelines and distributors, and oil and natural gas properties which are acquired and sold to oil and natural gas development entities. Reserves of oil and natural gas are depleted upon extraction, and the Company is in competition with other entities for the discovery of new prospects.

 

The Company is also engaged in the gathering and marketing of natural gas through its subsidiary PPC, which owns several miles of pipeline in Texas. Natural gas is gathered for a fee. Substantially all of the natural gas gathered by the Company is produced from wells that the Company operates and in which it owns a working interest.

 

The Company owns land and a two-story commercial office building in Dallas, Texas, which it uses as its principal headquarters office. The Company leases the remainder of the building to non-related third-party commercial tenants at prevailing market rates.

 

Patents, Licenses and Franchises

 

Oil and natural gas leases of the Company are obtained from the owner of the mineral estate. The leases are generally for a primary term of one or more years, and often have extension options for an equivalent period as the original primary term for payment of additional bonus consideration. The leases customarily provide for extension beyond their primary term for as long as oil and natural gas are produced in commercial quantities or other operations are conducted on such leases as provided by the terms of the leases.

 

The Company currently holds interests in producing and non-producing oil and natural gas leases. The existence of the oil and natural gas leases and the terms of the oil and natural gas leases are important to the business of the Company because future additions to reserves will come from oil and natural gas leases currently owned by the Company, and others that may be acquired, when they are proven to be productive. The Company is continuing to purchase oil and natural gas leases in areas where it currently has production, and also in other areas. 

 

 

8


 
 

  

Dependence on Customers

 

The following is a summary of a partial list of purchasers / operators (listed by percent of total oil and natural gas sales) from oil and natural gas produced by the Company for the three-year period ended December 31, 2020.

 

Purchaser / Operator  2020  2019  2018
Sunoco Partners Marketing   20%   21%   18%
Enlink Gas Marketing, LTD.   12%   8%   10%
Targa Midstream Services, LLC   11%   8%   9%
Bedrock Production LLC   10%   8%   0%
Hunt Crude Oil Supply   6%   3%   0%
Barnett Gathering, LP   5%   5%   4%
Peveler Pipeline, LP   4%   3%   0%
Phillips 66   3%   3%   1%
Pruet Production Co.   3%   3%   3%
Eastex Crude Company   3%   5%   3%
ETC Texas Pipeline, LTD   2%   2%   4%
Midcoast Energy Partners LP   2%   2%   3%
FDL Operating LLC   2%   1%   1%
Oasis Transportation & Marketing Group   1%   0%   0%
ACE Gathering, Inc.   1%   4%   4%
Empire Pipeline Corp.   1%   1%   1%
Land and Natural Resource Develomeent   1%   1%   2%
OXY USA, Inc.   1%   1%   1%
Eagle Ridge Operating, Inc   1%   0%   0%
Valero Energy Corporation   1%   1%   1%
Edinger Engineering Inc.   1%   0%   0%
Webb Energy Resources, Inc.   1%   0%   1%
Lion Oil Trading & Transportation   1%   0%   0%
ETX Energy, LLC formerly New Gulf Resources   1%   6%   5%
Enterprise Crude Oil, LLC   1%   0%   1%
Sandridge Energy, Inc.   0%   1%   1%
XTO Energy, Inc.   0%   1%   1%
Enlink Crude Purchasing, LLC   0%   1%   0%
Shell Trading (US) Company   0%   3%   4%
Range Resources Corporation   0%   1%   1%
Enervest Operating, LLC   0%   0%   10%
Dorado Oil Company   0%   0%   0%
Devon OEI Operating, Inc.   0%   0%   2%
LPC Crude Oil Marketing LLC   0%   0%   2%
BP America Production Company   0%   0%   0%
DCP Midstream, LP   0%   1%   4%
Camino   0%   0%   0%

 

 

 

Oil and natural gas is sold to approximately 103 different purchasers under market sensitive, short-term contracts computed on a month to month basis.

 

Except as set forth above, there are no other customers of the Company that individually accounted for more than one percent (1%) of the Company's oil and natural gas revenues during the three years ended

December 31, 2020.

 

The Company currently has no hedged contracts.

 

9


 
 

 

Prospective Drilling Activities

 

The Company's primary oil and natural gas prospect generation and acquisition efforts have been in known producing areas in the United States with emphasis devoted to Texas.

 

The Company intends to use a portion of its available funds to participate in drilling activities. The Company does not own any drilling rigs. Independent drilling contractors perform all drilling activity. The Company does not refine or otherwise process its oil and natural gas production.

 

Exploration for oil and natural gas is normally conducted with the Company acquiring undeveloped oil and natural gas leases under prospects and carrying out exploratory drilling on the prospective leasehold with the Company retaining a majority interest in the prospect. Interests in the property are sometimes sold to key employees and associated companies at cost. Also, interests may be sold to third parties with the Company retaining an overriding royalty interest, carried working interest, or a reversionary interest.

 

A prospect is a geographical area designated by the Company for the purpose of searching for oil and natural gas reserves and reasonably expected by it to contain at least one oil or natural gas reservoir. The Company utilizes its own funds along with the issuance of common stock and options to purchase common stock in some limited cases, to acquire oil and gas leases covering the lands comprising the prospects. These leases are selected by the Company and are obtained directly from the landowners, as well as from land men, geologists, other oil companies, some of whom may be affiliated with the Company, and by direct purchase, farm-in, or option agreements. After an initial test well is drilled on a property, any subsequent development drilling of such prospect will normally require the Company to fund the development activities.

 

Employees

 

As of December 31, 2020, the Company employed or contracted for the services of a total of approximately 42 people. Of this total, 12 are full-time employees, and the remainder are part-time employees or independent contractors. We believe that our relationships with our employees are good.

 

In order to effectively utilize our resources, we employ the services of independent consultants and contractors to perform a variety of professional, technical, and field services, including in the areas of lease acquisition, land related documentation and contracts, drilling and completion work, pumping, inspection, testing, maintenance and specialized services. We believe that it can be more cost effective to utilize the services of consultants and independent contractors for some of these services.

 

We depend to a large extent on the services of certain key management personnel and officers, and the loss of any these individuals could have a material adverse effect on our operations. The Company does not maintain key-man life insurance policies on its employees.

 

Financial Information about Foreign and Domestic Operations and Export Sales

 

All of the Company's business is conducted domestically, with no export sales.

 

Compliance with Environmental Regulations

 

Our oil and natural gas operations are subject to numerous United States federal, state, and local laws and regulations relating to the protection of the environment, including those governing the discharge of materials into the water and air, the generation, management and disposal of hazardous substances and wastes, and clean-up of contaminated sites. We could incur material costs, including clean-up costs, fines, civil and criminal sanctions, and third-party claims for property damage and personal injury as a result of violations of, or liabilities under, environmental laws and regulations. Such laws and regulations not only expose us to liability for our own activities but may also expose us to liability for the conduct of others or for actions by us that were in compliance with all applicable laws at the time those actions were taken. In addition, we could incur substantial expenditures complying with environmental laws and regulations, including future environmental laws and regulations which may be more stringent.

 

10


 
 

 

Glossary of Oil and Gas Terms

 

The following are abbreviations and definitions of terms commonly used in the oil and gas industry that are used in this Report. The terms defined herein may be found in this report in both upper and lower case or a combination of both.

 

"BBL" means a barrel of 42 U.S. gallons.

 

“BBNGL” means billion barrels of natural gas liquids.

 

“BCF” or “BCFG” means billion cubic feet.

 

"BOE" means barrels of oil equivalent, converting volumes of natural gas to oil equivalent volumes using a ratio of six Mcf of natural gas to one Bbl of oil.

 

“BOPD” means barrels of oil per day.

 

"BTU" means British Thermal Units. British Thermal Unit means the quantity of heat required to raise the temperature of one pound of water by one degree Fahrenheit.

 

“BSWPD” means barrels of salt water per day.

 

"Completion" means the installation of permanent equipment for the production of oil or natural gas.

 

"Development Well" means a well drilled within the proved area of an oil or natural gas reservoir to the depth of a strata graphic horizon known to be productive.

 

"Dry Hole" or "Dry Well" means a well found to be incapable of producing hydrocarbons in sufficient quantities such that proceeds from the sale of such production exceed production expenses and taxes.

 

"Exploratory Well" means a well drilled to find and produce oil or natural gas reserves not classified as proved, to find a new production reservoir in a field previously found to be productive of oil or natural gas in another reservoir or to extend a known reservoir.

 

"Farm-Out" means an agreement pursuant to which the owner of a working interest in an oil and natural gas lease assigns the working interest or a portion thereof to another party who desires to drill on the leased acreage. Generally, the assignee is required to drill one or more wells in order to earn its interest in the acreage. The assignor usually retains a royalty or reversionary interest in the lease. The interest received by an assignee is a "farm-in" and the assignor issues a "farm-out."

 

"Farm-In" see "Farm-Out" above.

 

"Gas" means natural gas.

 

"Gross" when used with respect to acres or wells, refers to the total acres or wells in which we have a working interest.

 

"Infill Drilling" means drilling of an additional well or wells provided for by an existing spacing order to drain a reservoir more adequately.

 

"MCF" or “MCFG” means thousand cubic feet.

 

“MCFGPD” means thousand cubic feet of natural gas per day.

 

11


 
 

"MCFE" means MCF of natural gas equivalent; converting volumes of oil to natural gas equivalent volumes using a ratio of one BBL of oil to six MCF of natural gas.

 

“MD” means measured depth.

 

“MMBO” means million barrels of oil.

 

"MMBTU" means one million BTUs.

 

"Net" when used with respect to acres or wells, refers to gross acres or wells multiplied, in each case, by the percentage working interest owned by the Company.

 

"Net Production" means production that is owned by the Company less royalties and production due others.

 

"Non-Operated" or "Outside Operated" means wells that are operated by a third party.

 

“Oil and Gas” means oil and natural gas.

 

"Operator" means the individual or company responsible for the exploration, development, production and management of an oil or gas well or lease.

 

“Overriding Royalty” means a royalty interest which is usually reserved by an owner of the leasehold in connection with a transfer to a subsequent owner.

 

"Present Value" ("PV") when used with respect to oil and natural gas reserves, means the estimated future gross revenues to be generated from the production of proved reserves calculated in accordance with the guidelines of the SEC, net of estimated production and future development costs as of the date of estimation without future escalation, and discounted using an annual discount rate of 10%. Prices are not escalated and are computed using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of the year (except to the extent a contract specifically provides otherwise). No effect is given to non-property related expenses such as general and administrative expenses, debt service, future income tax expense and depreciation, depletion and amortization.

 

"Productive Wells" or "Producing Wells" consist of producing wells and wells capable of production, including wells waiting on pipeline connections.

 

"Proved Developed Reserves" means reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. Additional oil and natural gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery will be included as "proved developed reserves" only after testing by a pilot project or after the operation of an installed program has confirmed through production response that increased recovery will be achieved.

 

"Proved Reserves" means the estimated quantities of crude oil and natural gas which upon analysis of geological and engineering data appear with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions, i.e., prices and costs as of the date the estimate is made. Prices include consideration of changes in existing prices provided only by contractual arrangements, but not on escalations based upon future conditions.

 

(i) Reservoirs are considered proved if either actual production or conclusive formation

tests support economic producability. The area of a reservoir considered proved

includes (A) that portion delineated by drilling and defined by gas-oil and/or oil-water

contacts, if any; and (B) the immediately adjoining portions not yet drilled, but which

can be reasonably judged as economically productive on the basis of available geological

and engineering data. In the absence of information on fluid contacts, the lowest known

structural occurrence of hydrocarbons controls the lower proved limit of the reservoir.

 

12


 
 

 

(ii) Reserves which can be produced economically through application of improved recovery

techniques (such as fluid injection) are included in the "proved" classification when successful

testing by a pilot project, or the operation of an installed program in the reservoir, provides

support for the engineering analysis on which the project or program was based.

 

(iii) Estimates of proved reserves do not include the following: (A) oil that may become

available from known reservoirs but is classified separately as "indicated additional reserves";

(B) crude oil and natural gas, the recovery of which is subject to reasonable doubt because of

uncertainty as to geology, reservoir characteristics or economic factors; (C) crude oil and

natural gas that may occur in undrilled prospects; and (D) crude oil and natural gas that may

be recovered from oil shales, coal, gilsonite and other such resources.

 

"Proved Undeveloped Reserves" means reserves that are recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for completion. Reserves on undrilled acreage shall be limited to those drilling units offsetting productive units that are reasonably certain of production when drilled. Proved reserves for other undrilled units can be claimed only where it can be demonstrated with certainty that there is continuity of production from the existing productive formation. Under no circumstances should estimates for proved undeveloped reserves be attributable to any acreage for which an application of fluid injection or other improved recovery technique is contemplated unless such techniques have been proved effective by actual tests in the area and in the same reservoir.

 

"Recompletion" means the completion for production of an existing well bore in another formation from that in which the well has been previously completed.

 

"Reserves" means proved reserves.

 

"Reservoir" means a porous and permeable underground formation containing a natural accumulation of producible oil and/or gas that is confined by impermeable rock or water barriers and is individual and separate from other reservoirs.

 

"Royalty" means an interest in an oil and natural gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage. Royalties may be either landowner's royalties, which are reserved by the owner of the leased acreage at the time the lease is granted, or overriding royalties, which are usually reserved by an owner of the leasehold in connection with a transfer to a subsequent owner.

 

“TCF” means trillion cubic feet.

 

“TD” means total depth.

 

“TVD” means true vertical depth,

 

"2-D Seismic" means an advanced technology method by which a cross-section of the earth's subsurface is created through the interpretation of reflecting seismic data collected along a single source profile.

 

"3-D Seismic" means an advanced technology method by which a three-dimensional image of the earth's subsurface is created through the interpretation of reflection seismic data collected over a surface grid. 3-D seismic surveys allow for a more detailed understanding of the subsurface than do conventional surveys and contribute significantly to field appraisal, development, and production.

 

"Working Interest" means an interest in an oil and natural gas lease that gives the owner of the interest the right to drill for and produce oil and gas on the leased acreage and requires the owner to pay a share of the costs of drilling and production operations. The share of production to which a working interest owner is entitled will always be smaller than the share of costs that the working interest owner is required to bear, with the balance of the production accruing to the owners of royalties.

 

"Workover" means operations on a producing well to restore or increase production.

 

13


 
 

Item 1A. Risk Factors

 

Risks Related Directly to Our Company.

 

One should carefully consider the following risk factors, in addition to the other information set forth in this Report, before investing in shares of our common stock. Each of these risk factors could adversely affect our business, operating results, and financial condition, as well as adversely affect the value of an investment in our common stock. Some information in this Report may contain "forward-looking" statements that discuss future expectations of our financial condition and results of operation. The risk factors noted in this section and other factors could cause our actual results to differ materially from those contained in any forward-looking statements.

 

We are exposed to global health, economic and market risks that are beyond our control, which could adversely affect our financial results and capital requirements.

 

The COVID-19 pandemic has drastically weakened the global demand for oil. The accompanying conditions of oversupply have led to a significant decrease in commodity prices and profit margins. Future business results, including cash flows and financing needs, will be affected by the extent and duration of these conditions and the effectiveness of responsive actions that the Company and others take, including actions to reduce capital and operating expenses, and actions taken by governments and others to address the COVID-19 pandemic including the ongoing development and distribution of COVID-19 vaccines, and the impact of the pandemic on national and global economies and markets.

 

During 2020 and continuing subsequent to the end of the year, attempts at containment of COVID-19 have resulted in decreased economic activity which has adversely affected the broader global economy. As the economy dramatically stalled, the demand for oil and natural gas substantially weakened. Many countries around the world, as well as the majority of the states in the United States, ordered their citizens to stay home in order to contain the spread of the virus. As part of the “shelter in place” and “stay at home” orders in effect during 2020, fewer businesses than normal were open, less people traveled to work, and more people were working from home which has reduced the demand for oil and natural gas. Airlines have dramatically cut back on flights as the number of passengers has dropped. Fewer cars on the road and planes in the sky equate to far less demand for oil. At this time, the full extent to which COVID-19 will negatively impact the global economy and our business is uncertain, but pandemics or other significant public health events will most likely have a material adverse effect on our business and results of operations.

 

Other uncertainties regarding the global economic and financial environment could lead to an extended national or global economic recession. A slowdown in economic activity caused by a recession would likely reduce national and worldwide demand for oil and natural gas and result in lower commodity prices for long periods of time. Costs of exploration, development and production have not yet adjusted to current economic conditions, or in proportion to the significant reduction in product prices. Prolonged, substantial decreases in oil and natural gas prices would likely have a material adverse effect on the Company’s business, financial condition, and results of operations, and could further limit the Company's access to liquidity and credit and could hinder its ability to satisfy its capital requirements.

In the past several years, capital and credit markets have experienced volatility and disruption. Given the levels of market volatility and disruption, the availability of funds from those markets may diminish substantially. Further, arising from concerns about the stability of financial markets generally and the solvency of borrowers specifically, the cost of accessing the credit markets has increased as many lenders have raised interest rates, enacted tighter lending standards, or altogether ceased to provide funding to borrowers.

Due to these potential capital and credit market conditions, the Company cannot be certain that funding will be available in amounts or on terms acceptable to the Company. The Company is evaluating whether current cash balances and cash flow from operations alone would be sufficient to provide working capital to fully fund the Company's operations. Accordingly, the Company is evaluating alternatives, such as joint ventures with third parties, or sales of interest in one or more of its properties. Such transactions, if undertaken, could result in a reduction in the Company's operating interests or require the Company to relinquish the right to operate the property. There can be no assurance that any such transactions can be completed or that such transactions will satisfy the Company's operating capital requirements. If the Company is not successful in obtaining sufficient funding or completing an alternative transaction on a timely basis on terms acceptable to the Company, the Company would be required to curtail its expenditures or restructure its operations, and the Company would be unable to continue its exploration, drilling, and recompletion program, any of which would have a material adverse effect on its business, financial condition, and results of operations.

 

14


 
 

There could be adverse legislation which if passed, would significantly curtail our ability to attract investors and raise capital. Proposed changes in the Federal income tax laws which would eliminate or reduce the percentage depletion deduction and the deduction for intangible drilling and development costs for small independent producers, will significantly reduce the investment capital available to those in the industry as well as our Company. Lengthening the time to expense seismic costs will also have an adverse effect on our ability to explore and find new reserves.

 

Other factors that may affect the demand for oil and natural gas, and therefore impact our results, include technological improvements in energy efficiency; seasonal weather patterns; increased competitiveness of, or government policy support for, alternative energy sources; changes in technology that alter fuel choices, such as technological advances in energy storage that make wind and solar more competitive for power generation; changes in consumer preferences for our products, including consumer demand for alternative fueled or electric transportation or alternatives to plastic products; and broad-based changes in personal income levels.

 

Commodity prices and margins also vary depending on a number of factors affecting supply. For example, increased supply from the development of new oil and gas supply sources and technologies to enhance recovery from existing sources tend to reduce commodity prices to the extent such supply increases are not offset by commensurate growth in demand.

 

Other sections of this report may also include suggested factors that could adversely affect our business and financial performance. Moreover, we operate in an extremely competitive and rapidly changing environment. New risks may emerge from time to time and it is not possible for management to predict all such matters; nor can we assess the impact of all such matters on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Investors should also refer to our quarterly reports on Form 10-Q for future periods and current reports on Form 8-K as we file them with the SEC, and to other materials we may furnish to the public from time to time through Forms 8-K or otherwise.

 

 

We face significant competition, and many of our competitors have resources in excess of our available resources.

 

The oil and natural gas industry is highly competitive. We encounter competition from other oil and gas companies in all areas of our operations, including the acquisition of producing properties and sale of crude oil and natural gas. Our competitors include major integrated oil and gas companies and numerous independent oil and gas companies, individuals, and drilling and income programs. Many of our competitors are large, well-established companies with substantially larger operating staffs and greater capital resources than us. Such companies may be able to pay more for productive oil and gas properties and exploratory prospects and to define, evaluate, bid for, and purchase a greater number of properties and prospects than our financial or human resources permit. Our ability to acquire additional properties and to discover reserves in the future will depend upon our ability to evaluate and select suitable properties and to consummate transactions in this highly competitive environment.

 

Exploratory drilling is a speculative activity that may not result in commercially productive reserves and may require expenditures in excess of budgeted amounts.

 

Drilling activities are subject to many risks, including the risk that no commercially productive oil or natural gas reservoirs will be encountered. There can be no assurance that new wells drilled by us will be productive or that we will recover all or any portion of our investment. Drilling for oil and natural gas may involve unprofitable efforts, not only from dry wells, but also from wells that are productive but do not produce sufficient net revenues to return a profit after drilling, operating and other costs. The cost of drilling, completing and operating wells is often uncertain. Our drilling operations may be curtailed, delayed, or canceled as a result of a variety of factors, many of which are beyond our control, including economic conditions, mechanical problems, pressure or irregularities in formations, title problems, weather conditions, compliance with governmental requirements, and shortages in or delays in the delivery of equipment and services. In today's environment, shortages make drilling rigs, labor, and services difficult to obtain and could cause delays or inability to proceed with our drilling and development plans. Such equipment shortages and delays sometimes involve drilling rigs where inclement weather prohibits the movement of land rigs causing a high demand for rigs by a large number of companies during a relatively short period of time. Our future drilling activities may not be successful. Lack of drilling success could have a material adverse effect on our financial condition and results of operations.

 

15


 
 

 

 

Our operations are also subject to all the hazards and risks normally incident to the development, exploitation, production, and transportation of, and the exploration for, oil and natural gas, including unusual or unexpected geologic formations, pressures, down hole fires, mechanical failures, blowouts, explosions, uncontrollable flows of oil, natural gas or well fluids and pollution and other environmental risks. These hazards could result in substantial losses to us due to injury and loss of life, severe damage to and destruction of property and equipment, pollution and other environmental damage and suspension of operations. We participate in insurance coverage maintained by the operator of its wells, although there can be no assurances that such coverage will be sufficient to prevent a material adverse effect to us in such events.

 

The vast majority of our oil and natural gas reserves are classified as proved reserves. Recovery of the Company's future proved undeveloped reserves will require significant capital expenditures. Our management estimates that additional capital expenditures will be required to fully develop some of these reserves in the next twelve-month period. No assurance can be given that our estimates of capital expenditures will prove accurate, that our financing sources will be sufficient to fully fund our planned development activities or that development activities will be either successful or in accordance with our schedule. Additionally, any significant decrease in oil and natural gas prices or any significant increase in the cost of development could result in a significant reduction in the number of wells drilled and/or reworked. No assurance can be given that any wells will produce oil or natural gas in commercially profitable quantities.

 

 

We are subject to uncertainties in reserve estimates and future net cash flows.

 

This annual report contains estimates of our oil and natural gas reserves and the future net cash flows from those reserves. These estimates have been prepared by Company personnel for 2020, 2019 and 2018. There are numerous uncertainties inherent in estimating quantities of reserves of oil and natural gas and in projecting future rates of production and the timing of development expenditures, including many factors beyond our control. The reserve estimates in this annual report are based on various assumptions, including decline curve analysis, constant oil and natural gas prices, operating expenses, capital expenditures and the availability of funds, and therefore, are inherently imprecise indications of future net cash flows. Actual future production, cash flows, taxes, operating expenses, development expenditures and quantities of recoverable oil and gas reserves may vary substantially from those assumed in the estimates. Any significant variance in these assumptions could materially affect the estimated quantity and value of reserves set forth in this annual report. Additionally, our reserves may be subject to downward or upward revision based upon actual production performance, results of future development and exploration, prevailing oil and natural gas prices and other factors, many of which are beyond our control.

 

The present value of future net reserves discounted at 10% (the "PV-10") of proved reserves referred to in this annual report should not be construed as the current market value of the estimated proved reserves of oil and gas attributable to our properties. In accordance with applicable requirements of the SEC, the estimated discounted future net cash flows from proved reserves are generally based on prices using a 12-month average price, calculated as the un-weighted arithmetic average of the first day-of-the month price for each month of each year, and costs as of the date of the estimate, whereas actual future prices and costs may be materially higher or lower. Actual future net cash flows also will be affected by: (i) the timing of both production and related expenses; (ii) changes in consumption levels; and (iii) governmental regulations or taxation. In addition, the calculation of the present value of the future net cash flows using a 10% discount as required by the SEC is not necessarily the most appropriate discount factor based on interest rates in effect from time to time and risks associated with our reserves or the oil and gas industry in general. Furthermore, our reserves may be subject to downward or upward revision based upon actual production, results of future development, supply and demand for oil and natural gas, prevailing oil and natural gas prices and other factors. See "Properties - Oil and Gas Reserves."

 

16


 
 

 

Unless we replace our oil and natural gas reserves, our reserves and production will decline, which would adversely affect our cash flows and income.

 

Unless we conduct successful development, exploitation and exploration activities or acquire properties containing proved reserves, our proved reserves will decline as those reserves are produced. Producing oil and natural gas reservoirs generally are characterized by declining production rates that vary depending upon reservoir characteristics and other factors. Our future oil and natural gas reserves and production, and, therefore our cash flow and income, are highly dependent on our success in efficiently developing and exploiting our current reserves and economically finding or acquiring additional recoverable reserves. We may be unable to make such acquisitions because we are:

 

·unable to identify attractive acquisition candidates or negotiate acceptable purchase contracts with them.
·unable to obtain financing for these acquisitions on economically acceptable terms; or
·outbid by competitors.

 

If we are unable to develop, exploit, find or acquire additional reserves to replace our current and future production, our cash flow and income will decline as production declines, until our existing properties would be incapable of sustaining commercial production.

 

 

There are risks in acquiring producing oil and natural gas properties, including difficulties in integrating acquired properties into our business, additional liabilities and expenses associated with acquired properties, diversion of management attention, increasing the scope, geographic diversity and complexity of our operations.

 

One of our business strategies includes growing our reserve base through acquisitions of oil and natural gas properties. Our failure to integrate acquired properties successfully into our existing business, or the expense incurred in consummating future acquisitions, could result in unanticipated expenses and losses. In addition, we may assume environmental cleanup or reclamation obligations or other unanticipated liabilities in connection with these acquisitions. The scope and cost of these obligations may ultimately be materially greater than estimated at the time of the acquisition.

 

We are continually investigating opportunities for acquisitions. In connection with future acquisitions, the process of integrating acquired operations into our existing operations may result in unforeseen operating difficulties and may require significant management attention and financial resources that would otherwise be available for the ongoing development or expansion of existing operations. Our ability to make future acquisitions may be constrained by our ability to obtain additional financing.

 

Possible future acquisitions could result in our incurring debt, contingent liabilities and expense, all of which could have a material effect on our financial condition and operating results.

 

 

Acquisitions may prove to be worth less than we paid because of uncertainties in evaluating recoverable reserves and potential liabilities.

 

Successful acquisitions require an assessment of several factors, including estimates of recoverable reserves, exploration potential, recovery applicability from water flood and Enhanced Oil Recovery techniques (“EOR”), future oil and natural gas prices, operating costs and potential environmental and other liabilities. Such assessments are inexact, and their accuracy is inherently uncertain. In connection with our assessments, we perform a review of the acquired properties which we believe is generally consistent with industry practices. However, such a review will not reveal all existing or potential problems. In addition, our review may not permit us to become sufficiently familiar with the properties to fully assess their deficiencies and capabilities. We do not inspect every well or property. Even when we inspect a well or property, we do not always discover structural, subsurface, and environmental problems that may exist or arise. We are generally not entitled to contractual indemnification for pre-closing liabilities, including environmental liabilities. Normally, we acquire interests in properties on an “as is” basis with limited remedies for breaches of representations and warranties. As a result of these factors, we may not be able to acquire oil and natural gas properties that contain economically recoverable reserves or be able to complete such acquisitions on acceptable terms.

 

17


 
 

Additionally, significant acquisitions can change the nature of our operations and business depending upon the character of the acquired properties, which may have substantially different operating and geological characteristics or be in different geographic locations than our existing properties. It is our current intention to continue focusing on acquiring properties with development and exploration potential located in onshore United States. To the extent that we acquire properties substantially different from the properties in our primary operating regions or acquire properties that require different technical expertise, we may not be able to realize the economic benefits of these acquisitions as efficiently as in our prior acquisitions.

 

 

We cannot control activities on properties we do not operate. Failure to fund capital expenditure requirements may result in reduction or forfeiture of our interests in some of our non-operated projects.

 

We do not operate some of the properties in which we have an interest, and we have limited ability to exercise influence over operations for these properties or their associated costs. As of December 31, 2020, approximately 20% of our crude oil and natural gas proved reserves were operated by other companies. Our dependence on other operators and other working interest owners for these projects and our limited ability to influence operations and associated costs could materially adversely affect the realization of our targeted return on capital in drilling or acquisition activities and our targeted production growth rate. The success and timing of drilling, development and exploitation activities on properties operated by others depend on a number of factors that are beyond our control, including the operator’s expertise and financial resources, approval of other participants for drilling wells and utilization of technology.

 

When we are not the majority owner or operator of a particular crude oil or natural gas project, we may have no control over the timing or amount of capital expenditures associated with such project. If we are not willing or able to fund our capital expenditures relating to such projects when required by the majority owner or operator, our interests in these projects may be reduced or forfeited.

 

 

We are subject to risks associated with the current United States Government Administration’s possible budget features.

 

Future legislation may set forth budget proposals which if passed, would significantly curtail our ability to attract investors and raise capital. Future possible changes in the Federal income tax laws which would eliminate or reduce the percentage depletion deduction and the deduction for intangible drilling and development costs for small independent producers will likely significantly reduce the investment capital available to those in the industry as well as our Company. Lengthening the time to expense seismic costs would likely also have an adverse effect on our ability to explore and find new reserves.

 

 

We are subject to various operating and other casualty risks that could result in liability exposure or the loss of production and revenues.

 

Our oil and gas business involves a variety of operating risks, including, but not limited to, unexpected formations or pressures, uncontrollable flows of oil, natural gas, brine or well fluids into the environment (including groundwater contamination), blowouts, fires, explosions, pollution, and other risks, any of which could result in personal injuries, loss of life, damage to properties and substantial losses. Although we carry insurance at levels that we believe are reasonable, we are not fully insured against all risks. We do not carry business interruption insurance. Losses and liabilities arising from uninsured or under-insured events could have a material adverse effect on our financial condition and operations.

 

From time to time, due primarily to contract terms, pipeline interruptions or weather conditions, the producing wells in which we own an interest have been subject to production curtailments. The curtailments range from production being partially restricted to wells being completely shut in. The duration of curtailments varies from a few days to several months. In most cases, we are provided only limited notice as to when production will be curtailed and the duration of such curtailments. We are not currently experiencing any material curtailment of our production.

 

We intend to increase to some extent our development and, to a lesser extent, exploration activities. Exploration drilling and, to a lesser extent, development drilling of oil and gas reserves involve a high degree of risk that no commercial production will be obtained and/or that production will be insufficient to recover drilling and completion costs. The cost of drilling, completing and operating wells is often uncertain. Our drilling operations may be curtailed, delayed or canceled as a result of numerous factors, including title problems, weather conditions, compliance with governmental requirements and shortages or delays in the delivery of equipment. Furthermore, completion of a well does not assure a profit on the investment or a recovery of drilling, completion, and operating costs. 

18


 
 

We depend on our key management personnel and technical experts and the loss of any of these individuals could adversely affect our business.

 

If we lose the services of our key management personnel, technical experts or are unable to attract additional qualified personnel, our business, financial condition, results of operations, development efforts and ability to grow could suffer. We have assembled a team of engineers and geologists who have considerable experience in applying advanced drilling and completion techniques to explore for and to develop crude oil and natural gas. We depend upon the knowledge, skill, and experience of these experts to assist us in improving the performance and reducing the risks associated with our participation in crude oil and natural gas exploration and development projects. In addition, the success of our business depends, to a significant extent, upon the abilities and continued efforts of our management, particularly Chris Mazzini, our Chief Executive Officer, President and Chairman of the Board. We do not have an employment agreement with or key-man life insurance on Mr. Mazzini or any of our other employees.

 

 

The inability to continue to hire, train and retain operational, technical, and managerial personnel could adversely affect our results of operations.

 

The average age of the employee base of the Company has been increasing for a number of years, with a number of employees becoming eligible to retire within the next two to ten years. If we were unable to hire appropriate personnel to fill future needs, the Company could encounter operating challenges and increased costs, primarily due to a loss of knowledge, errors due to inexperience or the lengthy time period typically required to adequately train replacement personnel. In addition, higher costs could result from the increased use of contractors to replace retiring employees, loss of productivity or increased safety compliance issues. The inability to hire, train and retain new operational, technical, and managerial personnel adequately and to transfer institutional knowledge and expertise could adversely affect our ability to manage and operate our business. If we were unable to hire, train and retain appropriately qualified personnel, our results of operations could be adversely affected.

 

The costs of providing health care benefits to our employees may increase substantially.

 

We provide health care benefits to eligible full-time employees. The costs of providing health care benefits to our employees could significantly increase over time due to rapidly increasing health care inflation, and any future legislative changes related to the provision of health care benefits. The impact of additional costs which are likely to be passed on to the Company are difficult to measure at this time. Further, our costs of providing such benefits are also subject to a number of factors, including (i) changing demographics; and (ii) future government regulation.

 

 

Certain of our affiliates control a majority of our outstanding common stock, which may affect your vote as a shareholder.

 

Our executive officers, directors, and their affiliates as of December 31, 2020 hold approximately 87.35% of our outstanding shares of common stock. As a result, officers, directors and their affiliates and such shareholders have the ability to exert significant influence over our business affairs, including the ability to control the election of directors and results of voting on all matters requiring shareholder approval. This concentration of voting power may delay or prevent a potential change in control.

 

 

Certain of our affiliates have engaged in business transactions with the Company, which may result in conflicts of interest.

 

Certain officers, directors, and related parties, including entities controlled by Mr. Mazzini, the President and Chief Executive Officer, have engaged in business transactions with the Company which were not the result of arm's length negotiations between independent parties. Our management believes that the terms of these transactions were as favorable to us as those that could have been obtained from unaffiliated parties under similar circumstances. All future transactions between us and our affiliates will be on terms no less favorable than could be obtained from unaffiliated third parties and will be approved by a majority of the disinterested members of our Board of Directors.

 

 

19


 
 

 

Our common stock is traded on the Over-the-Counter market and is currently quoted on the OTC Market (Other), symbol "SPND".

 

The liquidity of our common stock may be adversely affected, and purchasers of our common stock may have difficulty selling our common stock, if our common stock does not continue to trade in that or another suitable trading market.

 

There is presently only a limited public market for our common stock, and there is no assurance that a ready public market for our securities will develop. It is likely that any market that develops for our common stock will be highly volatile and that the trading volume in such market will be limited. The trading price of our common stock could be subject to wide fluctuations in response to quarter-to-quarter variations in our operating results, announcements of our drilling results and other events or factors. In addition, the United States stock market has from time-to-time experienced extreme price and volume fluctuations that have affected the market price for many companies and which often have been unrelated to the operating performance of these companies. These broad market fluctuations may adversely affect the market price of our securities.

 

 

We do not intend to declare dividends in the foreseeable future.

 

Our Board of Directors presently intends to retain all our earnings for the expansion of our business. We therefore do not anticipate the distribution of cash dividends in the foreseeable future. Any future decision of our Board of Directors to pay cash dividends will depend, among other factors, upon our earnings, financial position and cash requirements.

 

 

We are subject to certain title risks.

 

Our company employees and contract land professionals have reviewed title records or other title review materials relating to substantially all our producing properties. The title investigation performed by us prior to acquiring undeveloped properties is thorough, but less rigorous than that conducted prior to drilling, consistent with industry standards. We believe we have satisfactory title to all our producing properties in accordance with standards generally accepted in the oil and gas industry. Our properties are subject to customary royalty interests, liens incident to operating agreements, liens for current taxes and other burdens, which we believe do not materially interfere with the use of or affect the value of such properties. At December 31, 2020, our leaseholds for some of our net acreage were being kept in force by virtue of production on that acreage in paying quantities. The remaining net acreage was held by lease rentals and similar provisions and requires production in paying quantities prior to expiration of various time periods to avoid lease termination.

 

We expect to make acquisitions of oil and gas properties from time to time subject to available resources. In making an acquisition, we generally focus most of our title and valuation efforts on the more significant properties. It is generally not feasible for us to review in-depth every property we purchase and all records with respect to such properties. However, even an in-depth review of properties and records may not necessarily reveal existing or potential problems, nor will it permit us to become familiar enough with the properties to assess fully their deficiencies and capabilities. Evaluation of future recoverable reserves of oil and gas, which is an integral part of the property selection process, is a process that depends upon evaluation of existing geological, engineering and production data, some, or all of which may prove to be unreliable or not indicative of future performance. To the extent the seller does not operate the properties, obtaining access to properties and records may be more difficult. Even when problems are identified, the seller may not be willing or financially able to give contractual protection against such problems, and we may decide to assume environmental and other liabilities in connection with acquired properties.

 

Our business is highly capital-intensive, requiring continuous development and acquisition of oil and gas reserves. In addition, capital is required to operate and expand our oil and natural gas field operations and purchase equipment. On December 31, 2020, we had working capital of $4,948,000. We anticipate that we will be able to meet our cash requirements for the next 12 months. However, if such plans or assumptions change or prove to be inaccurate, we could be required to seek additional financing sooner than currently anticipated.

 

We have funded our operations, acquisitions, and expansion costs primarily through our internally generated cash flow. Our success in obtaining the necessary capital resources to fund future costs associated with our operations and expansion plans is dependent upon our ability to: (i) increase revenues through acquisitions and recovery of our proved producing and proved developed non-producing oil and gas reserves; and (ii) maintain effective cost controls at the corporate administrative office and in field operations. However, even if we achieve some success with our plans, there can be no assurance that we will be able to generate sufficient revenues to achieve significant profitable operations or fund our expansion plans. 

20


 
 

 

We have substantial capital requirements necessary for undeveloped properties for which we may not be able to obtain adequate financing.

 

Development of our properties will require additional capital resources. We have no commitments to obtain any additional debt or equity financing and there can be no assurance that additional financing will be available, when required, on favorable terms to us. The inability to obtain additional financing could have a material adverse effect on us, including requiring us to significantly curtail our oil and gas acquisition and development plans or farm-out development of our properties. Any additional financing may involve substantial dilution to the interests of our shareholders at that time. 

 

 

Oil and natural gas prices fluctuate widely, and low prices could have a material adverse impact on our business and financial results.

 

Our revenues, profitability and the carrying value of our oil and gas properties are substantially dependent upon prevailing prices of, and demand for, oil and natural gas and the costs of acquiring, finding, developing, and producing reserves. Our ability to obtain borrowing capacity, to repay future indebtedness, and to obtain additional capital on favorable terms is also substantially dependent upon oil and natural gas prices. Historically, the markets for oil and natural gas have been volatile and are likely to continue to be volatile in the future. Prices for oil and natural gas are subject to wide fluctuations in response to: (i) relatively minor changes in the supply of, and demand for, oil and natural gas; (ii) market uncertainty; and (iii) a variety of additional factors, all of which are beyond our control. These factors include domestic and foreign political conditions, the price and availability of domestic and imported oil and natural gas, the level of consumer and industrial demand, weather, domestic and foreign government relations, the price and availability of alternative fuels and overall economic conditions. Furthermore, the marketability of our production depends in part upon the availability, proximity, and capacity of gathering systems, pipelines and processing facilities. Volatility in oil and natural gas prices could affect our ability to market our production through such systems, pipelines or facilities. As of December 31, 2020, approximately 95% of our oil and natural gas production is currently sold to 25 purchasing firms on a month-to-month basis at prevailing spot market prices. Oil prices remained subject to unpredictable political and economic forces during 2020, 2019, and 2018, and experienced fluctuations similar to those seen in natural gas prices for the year. We believe that oil prices will continue to fluctuate in response to changes in the policies of the Organization of Petroleum Exporting Countries ("OPEC"), changes in demand from many Asian countries, current events in the Middle East and Eastern Europe, security threats to the United States, and other factors associated with the world political and economic environment. As a result of the many uncertainties associated with levels of production maintained by OPEC and other oil producing countries, the availabilities of worldwide energy supplies and competitive relationships and consumer perceptions of various energy sources, we are unable to predict what changes will occur in crude oil and natural gas prices.

 

 

Gathering and transporting natural gas involve risks that may result in accidents and additional operating costs.

 

Our natural gas pipeline business involves several hazards and operating risks that cannot be completely avoided, such as leaks, accidents and operational problems, which could cause loss of human life, as well as substantial financial losses resulting from property damage, damage to the environment and to our operations. We maintain liability and property insurance coverage in place for many of these hazards and risks. However, because some of our pipelines are near or are in populated areas, any loss of human life or adverse financial results resulting from such events could be large. If these events were not fully covered by our general liability and property insurance, which policies are subject to certain limits and deductibles, our operations or financial results could be adversely affected. Our pipelines are aging, and we will be responsible for eventually replacing these lines. The costs of maintaining and replacing our aging pipeline infrastructure may have a material adverse impact on our operating costs and financial results.

 

 

We will be responsible for additional costs in connection with abandonment of properties.

 

We are responsible for payment of plugging and abandonment costs on our oil and gas properties pro rata to our working interest. Based on our experience, we anticipate that in most cases, the costs of abandoning such properties will range from $20,000 to $100,000 or more per well. In addition, abandonment costs and their timing may change due to many factors, including actual production results, inflation rates and changes in environmental laws and regulations.

 

 

 

 

21


 
 

Risks that Involve the Oil and Gas Industry in General.

 

We are subject to various governmental regulations which may cause us to incur substantial costs.

 

Our operations are affected from time to time in varying degrees by political developments and federal, state, and local laws and regulations. In particular, oil and natural gas production-related operations are or have been subject to price controls, taxes and other laws and regulations relating to the oil and gas industry. Failure to comply with such laws and regulations can result in substantial penalties. The regulatory burden on the oil and gas industry increases our cost of doing business and affects our profitability. Although we believe we are in substantial compliance with all applicable laws and regulations because such laws and regulations are frequently amended or reinterpreted, we are unable to predict the future cost or impact of complying with such laws and regulations.

 

Sales of natural gas by us are not regulated and are generally made at market prices. However, the Federal Energy Regulatory Commission ("FERC") regulates interstate natural gas transportation rates and service conditions, which affect the marketing of natural gas produced by us, as well as the revenues received by us for sales of such production. Sales of our natural gas currently are made at uncontrolled market prices, subject to applicable contract provisions and price fluctuations that normally attend sales of commodity products.

 

Since the mid-1980s, the FERC has issued a series of orders, culminating in Order Nos. 636, 636-A and 636-B ("Order 636"), that have significantly altered the marketing and transportation of natural gas. Order 636 mandated a fundamental restructuring of interstate pipeline sales and transportation service, including the unbundling by interstate pipelines of the sale, transportation, storage, and other components of the city-gate sales services such pipelines previously performed. One of the FERC's purposes in issuing the orders was to increase competition within all phases of the natural gas industry. Order 636 and subsequent FERC orders issued in individual pipeline restructuring proceedings have been the subject of appeals, and the courts have largely upheld Order 636. Because further review of certain of these orders is still possible, and other appeals may be pending, it is difficult to exactly predict the ultimate impact of the orders on us and our natural gas marketing efforts. Generally, Order 636 has eliminated or substantially reduced the interstate pipelines' traditional role as wholesalers of natural gas and has substantially increased competition and volatility in natural gas markets.

 

While significant regulatory uncertainty remains, Order 636 may ultimately enhance our ability to market and transport our natural gas, although it may also subject us to greater competition, more restrictive pipeline imbalance tolerances and greater associated penalties for violation of such tolerances.

 

The FERC has announced several important transportation-related policy statements and proposed rule changes, including the appropriate manner in which interstate pipelines release capacity under Order 636 and, more recently, the price which shippers can charge for their released capacity. In addition, in 1995, the FERC issued a policy statement on how interstate natural gas pipelines can recover the costs of new pipeline facilities. In January 1997, the FERC issued a policy statement and a request for comments concerning alternatives to its traditional cost-of-service rate making methodology. A number of pipelines have obtained FERC authorization to charge negotiated rates as one such alternative. While any additional FERC action on these matters would affect us only indirectly, these policy statements and proposed rule changes are intended to further enhance competition in natural gas markets. We cannot predict what the FERC will take on these matters, nor can we predict whether the FERC's actions will achieve its stated goal of increasing competition in natural gas markets. However, we do not believe that we will be treated materially differently than other natural gas producers and marketers with which we compete.

 

The price we receive from the sale of oil is affected by the cost of transporting such products to market. Effective January 1, 1995, the FERC implemented regulations establishing an indexing system for transportation rates for oil pipelines, which, generally, would index such rates to inflation, subject to certain conditions and limitations. These regulations could increase the cost of transporting oil by interstate pipelines, although the most recent adjustment generally decreased rates. These regulations have generally been approved on judicial review. We are not able to predict with certainty the effect, if any, of these regulations on its operations. However, the regulations may increase transportation costs or reduce wellhead prices for oil.

 

The State of Texas and many other states require permits for drilling operations, drilling bonds and reports concerning operations and impose other requirements relating to the exploration for and production of oil and natural gas. Such states also have statutes or regulations addressing conservation matters, including provisions for the unitization or pooling of oil and gas properties, the establishment of maximum rates of production from wells and the regulation of spacing, plugging and abandonment of such wells. The statutes and regulations of certain states limit the rate at which oil and gas can be produced from our properties. However, we do not believe we will be affected materially differently by these statutes and regulations than any other similarly situated oil and gas company.

22


 
 

 

We may not have enough insurance to cover all the risks we face, which could result in significant financial exposure.

 

We maintain insurance coverage against some, but not all, potential losses to protect against the risks we face. We may elect not to carry insurance if our management believes that the cost of insurance is excessive relative to the risks presented. If an event occurs that is not covered, or not fully covered, by insurance, it could harm our financial condition, results of operations and cash flows. In addition, we cannot fully insure against pollution and environmental risks.

 

 

Future new technologies could make the products we sell obsolete.

 

Future alternative technologies could dramatically impact the demand for the natural gas and crude oil we sell thereby causing a material adverse impact on our operations and financial results. Such alternative technologies could also cause a material adverse impact on the value of our oil and natural gas properties.

 

 

Cyber-attacks or acts of cyber-terrorism could disrupt our business operations and information technology systems or result in the loss or exposure of confidential or sensitive customer, employee or Company information.

 

Our business operations and information technology systems may be vulnerable to an attack by individuals or organizations intending to disrupt our business operations and information technology systems, even though the Company has implemented policies, procedures, and controls to prevent and detect these activities. We use our information technology systems to manage our oil and gas operations and other business processes. Disruption of those systems could adversely impact our ability to safely operate our wells, operate our pipelines or otherwise run our business. Accordingly, if such an attack or act of terrorism were to occur, our operations and financial results could be adversely affected. In addition, we use our information technology systems to protect confidential or sensitive employee and Company information developed and maintained in the normal course of our business. Any attack on such systems that would result in the unauthorized release of employee or other confidential or sensitive data could have a material adverse effect on our business reputation, increase our costs and expose us to additional material legal claims and liability. If such an attack or act of terrorism were to occur, our operations and financial results would be adversely affected since we may not maintain insurance coverage to cover these risks.

 

 

Natural disasters, terrorist activities or other significant events could adversely affect our operations or financial results.

 

Natural disasters are always a threat to our assets and operations. In addition, the threat of terrorist activities could lead to increased economic instability and volatility in the price of natural gas that could affect our operations. Also, companies in our industry may face a heightened risk of exposure to actual acts of terrorism, which could subject our operations to increased risks. As a result, the availability of insurance covering such risks may become more limited, which could increase the risk that an event could adversely affect our operations or financial results.

 

 

The operations and financial results of the Company could be adversely impacted because of climate changes or related additional legislation or regulation in the future.

 

To the extent climate changes occur, our businesses could be adversely impacted, although we believe it is likely that any such resulting impacts would occur very gradually over a long period of time and thus would be difficult to quantify with any degree of specificity. To the extent climate changes would result in warmer temperatures in our areas of operations, financial results could be adversely affected through lower gas volumes and revenues. In addition, there have been a number of federal and state legislative and regulatory initiatives proposed in recent years in an attempt to control or limit the effects of global warming and overall climate change, including greenhouse gas emissions, such as carbon dioxide. The adoption of this type of legislation by Congress or similar legislation by states or the adoption of related regulations by federal or state governments mandating a substantial reduction in greenhouse gas emissions in the future could have far-reaching and significant impacts on the energy industry. Such new legislation or regulations could result in increased compliance costs for us or additional operating restrictions on our business, affect the demand for natural gas, or impact the prices we charge to our customers. At this time, we cannot predict the potential impact of such laws or regulations that may be adopted on our future business, financial condition, or financial results.

 

 

23


 
 

 

We are subject to various environmental risks which may cause us to incur substantial costs.

 

Our operations and properties are subject to extensive and changing federal, state, and local laws and regulations relating to environmental protection, including the generation, storage, handling and transportation of oil and natural gas and the discharge of materials into the environment, and relating to safety and health. The recent trend in environmental legislation and regulation generally is toward stricter standards, and this trend will likely continue. These laws and regulations may require the acquisition of a permit or other authorization before construction or drilling commences and for certain other activities; limit or prohibit construction, drilling and other activities on certain lands lying within wilderness and other protected areas; and impose substantial liabilities for pollution resulting from our operations. The permits required for our various operations are subject to revocation, modification, and renewal by issuing authorities. Governmental authorities have the power to enforce compliance with their regulations, and violations are subject to fines, penalties, or injunctions. In the opinion of management, we are in substantial compliance with current applicable environmental laws and regulations, and we have no material commitments for capital expenditures to comply with existing environmental requirements. Nevertheless, changes in existing environmental laws and regulations or in interpretations thereof could have a significant impact on us. The impact of such changes, however, would not likely be any more burdensome to us than to any other similarly situated oil and gas company.

 

The Comprehensive Environmental Response, Compensation, and Liability Act ("CERCLA"), also known as the "Superfund" law, and similar state laws impose liability, without regard to fault or the legality of the original conduct, on certain classes of persons that are considered to have contributed to the release of a "hazardous substance" into the environment. These persons include the owner or operator of the disposal site or sites where the release occurred and companies that disposed or arranged for the disposal of the hazardous substances found at the site. Persons who are or were responsible for releases of hazardous substances under CERCLA may be subject to joint and several liabilities for the costs of cleaning up the hazardous substances that have been released into the environment and for damages to natural resources. Furthermore, neighboring landowners and other third parties may file claims for personal injury and property damage allegedly caused by the hazardous substances released into the environment.

 

We generate typical oil and gas field wastes, including hazardous wastes that are subject to the Federal Resources Conservation and Recovery Act and comparable state statutes. The United States Environmental Protection Agency and various state agencies have limited the approved methods of disposal for certain hazardous and non-hazardous wastes. Furthermore, certain wastes generated by our oil and gas operations that are currently exempt from regulation as "hazardous wastes" may in the future be designated as "hazardous wastes", and therefore be subject to more rigorous and costly operating and disposal requirements.

 

The Oil Pollution Act ("OPA") imposes a variety of requirements on responsible parties for onshore and offshore oil and gas facilities and vessels related to the prevention of oil spills and liability for damages resulting from such spills in waters of the United States. The "responsible party" includes the owner or operator of an onshore facility or vessel or the lessee or permittee of, or the holder of a right of use and easement for, the area where an onshore facility is located. OPA assigns liability to each responsible party for oil spill removal costs and a variety of public and private damages from oil spills. Few defenses exist to the liability for oil spills imposed by OPA. OPA also imposes financial responsibility requirements. Failure to comply with ongoing requirements or inadequate cooperation in a spill event may subject a responsible party to civil or criminal enforcement actions.

 

We own or lease properties that for many years have produced oil and natural gas. We also own natural gas gathering systems. It is not uncommon for such properties to be contaminated with hydrocarbons. Although we or previous owners of these interests may have used operating and disposal practices that were standard in the industry at the time, hydrocarbons or other wastes may have been disposed of or released on or under the properties or on or under other locations where such wastes have been taken for disposal. These properties may be subject to federal or state requirements that could require us to remove any such wastes or to remediate the resulting contamination. In addition to properties that we operate, we have interests in many properties which are operated by third parties over whom we have limited control. Notwithstanding our lack of control over properties operated by others, the failure of the previous owners or operators to comply with applicable environmental regulations may, in certain circumstances, adversely impact us.

 

 

24


 
 

Item 1B. Unresolved Staff Comments

 

None

 

 

Item 2. Properties

 

OIL AND GAS PROPERTIES

 

The following table sets forth pertinent data with respect to the Company-owned oil and gas properties, all located within the continental United States, as estimated by the Company:

 

 

 

   Years Ended December 31,
   2020  2019  2018
Gas and Oil Properties, net (1)               
Proved developed gas reserves-Mcf (2)               
Proved developed producing   2,913,000    6,849,000    7,173,000 
Proved developed non-producing   —      —      —   
Proved undeveloped gas reserves-Mcf (3)   —      —      —   
Total proved gas reserves-Mcf   2,913,000    6,849,000    7,173,000 
                
Proved Developed Crude Oil and               
Condensate reserves-Bbls (2)               
Proved developed producing   145,000    262,000    309,000 
Proved developed non-producing   —      —      —   
Proved Undeveloped crude oil and   —      —      —   
Condensate reserves-Bbls (3)   —      —      —   
    145,000    262,000    309,000 

 

 

(1) The estimate of the net proved oil and natural gas reserves, future net revenues, and the present value of future net revenues.

 

(2) "Proved Developed Oil and Natural gas Reserves" are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods.

 

(3) "Proved Undeveloped Reserves" are reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for recompletion. See Footnote 18 to the Financial Statements, Supplemental Reserve Information (Unaudited), for further explanation of the changes for 2018 through 2020.

 

(4) Reserve amounts are rounded to the nearest thousand.

 

Productive Wells

 

The following table sets forth our domestic productive wells, shut-in wells, and includes both operated and non-operated wells at December 31, 2020.

 

 

 Gas Wells         Oil Wells         Total Wells      
 Gross    Net    Gross    Net    Gross    Net 
                            
 274    88.26    162    63.76    436    152.02 

 

 

25


 
 

 

Acreage

 

The following table sets forth our undeveloped and developed gross and net leasehold acreage for our operated and non-operated wells at December 31, 2020. Undeveloped acreage includes leased acres on which wells have not been drilled or completed to a point that would permit the production of commercial quantities of oil and gas, regardless of whether such acreage contains proved reserves. Undeveloped acreage should not be confused with undrilled acreage held by Production under the terms of a lease. Undrilled acreage held by production under the terms of a lease is included in the Developed Acreage category total shown below.

 

 

 Undeveloped
Acreage
         Developed
Acreage
         Total Acreage      
 Gross    Net    Gross    Net    Gross    Net 
                            
 5,258    1,991    80,597    18,207    85,855    20,198 

 

 

All the leases for the undeveloped acreage summarized in the preceding table will expire at the end of their respective primary terms unless prior to that date, the existing leases are renewed or production has been obtained from the acreage subject to the lease, in which event the lease will remain in effect until the cessation of production. As is customary in the industry, we generally acquire oil and gas acreage without any warranty of title except as to claims made by, through or under the transferor. Although we have title to developed acreage examined prior to acquisition in those cases in which the economic significance of the acreage justifies the cost, there can be no assurance that losses will not result from title defect or from defects in the assignment of leasehold rights. 

 

Wells Drilled and Completed

 

The Company's working interests in both operated and outside operated exploration and development wells completed during the years indicated were as follows:

 

   2020  2019  2018
   Gross  Net  Gross  Net  Gross  Net
                   
Exploratory Wells (1):                              
Productive   1.000    0.030    1.000    0.014    —      —   
Non-Productive   —      —      —      —      —      —   
Total   1.000    0.030    1.000    0.014    —      —   
                               
Developed Wells (2):                              
Productive   —      —      —      —      —      —   
Non-Productive   —      —      —      —      —      —   
Total   —      —      —      —      —      —   
                               
Total Exploration & Development Wells:                              
Productive   1.000    0.030    1.000    0.014    —      —   
Non-Productive   —      —      —      —      —      —   
Total   1.000    0.030    1.000    0.014    —      —   

 

 

(1) An exploratory well is a well drilled to find and produce oil or natural gas in an unproved area, to find a new reservoir in a field previously found to be productive of oil or natural gas in another reservoir, or to extend a known reservoir.

 

(2) A development well is a well drilled within the proved area of an oil or natural gas reservoir to the depth of a stratigraphic horizon known to be productive.

26


 
 

 

The following tables set forth additional data with respect to production from Company-owned oil and gas operated and non-operated properties, all located within the continental United States:

 

 

   For the years ended December 31,
   2020  2019  2018  2017  2016
                
Oil and Gas Production, net:                         
Natural Gas (Mcf)   743,465    916,456    874,812    619,654    582,348 
Crude Oil & Condensate (Bbl)   30,900    41,919    43,136    51,082    50,248 
                          
Average Sales Price per Unit Produced                         
Natural Gas (Mcf)  $1.84   $2.08   $2.86   $2.87   $2.08 
Crude Oil & Condensate (Bbl)  $41.71   $55.76   $62.09   $47.70   $37.49 
                          
Average Production Cost per Equivalent Barrel (1) (2)  $12.92   $13.26   $13.18   $13.33   $13.04 

 

 

(1) Includes severance taxes and ad valorem taxes.

 

(2) Natural gas production is converted to equivalent barrels at the rate of six MCFG per barrel, representing relative energy content of natural gas to oil.

 

The Company owns producing royalties and overriding royalties under properties located in Texas. The revenue from these properties is not significant.

 

The Company is not aware of any major discovery or other favorable or adverse event that is believed to have caused a significant change in the estimated proved reserves since December 31, 2020.

 

OFFICE SPACE

 

The Company owns a commercial office building. The property is a two-story multi-tenant, garden office building with a sub-grade parking garage. The building was built in 1983 and contains approximately 46,286 rentable square feet, sitting on a 1.4919- acre block of land situated in north Dallas, Texas in close proximity to hotels, restaurants and shopping areas (the Galleria Mall) with easy access to Interstate Highway 635 (LBJ Freeway) and Dallas Parkway (North Dallas Toll Road). The Company occupies approximately 10,273 rentable square feet of the building as its primary office headquarters and leases the remaining space in the building to non-related third-party commercial tenants at prevailing market rates.

 

The address of the Company's principal executive offices is One Spindletop Centre, 12850 Spurling Road, Suite 200, Dallas, Texas 75230. The telephone number is (972) 644-2581.

 

PIPELINES

 

The Company owns, through its subsidiary, PPC, several miles of natural gas pipelines in Texas. These pipelines are steel and polyethylene and range in size from two inches to four inches. These pipelines primarily gather natural gas from wells operated by the Company and in which the Company owns a working interest and may also gather for other parties.

 

The Company normally does not purchase and resell natural gas but gathers natural gas for a fee. The fees charged in some cases are subject to regulations by the State of Texas and the Federal Energy Regulatory Commission.

 

27


 
 

Oilfield Production Equipment

 

The Company owns various natural gas compressors, pumping units, dehydrators, and various other pieces of oilfield production equipment.

 

Substantially all the equipment is located on oil and gas properties operated by the Company and in which it owns a working interest. The rental fees are charged as lease operating fees to each property and each owner.

 

 

Item 3. Legal Proceedings

 

On July 23, 2020, a subsidiary of the Company received notice of a lawsuit filed in Louisiana against the Company’s subsidiary and numerous other oil and gas companies alleging a pollution claim for properties operated by the defendants in Louisiana, and the Company’s subsidiary filed an answer. The Plaintiffs filed a First Supplemental and Amending Petition for Damages on January 21, 2021.  The litigation is currently in the discovery phase. Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of contingencies for litigation.. The Company will continue to defend its subsidiary vigorously in this matter.

 

 

Item 4. Mine Safety Disclosures

 

Not Applicable

 

 

 

28


 
 

PART II

 

Item 5. Market for the Company's Common Equity, Related Stockholder Matters And Issuer Purchases Of Equity Securities.

 

The Company's common stock trades Over-The-Counter under the symbol "SPND".

 

Prior to 2004, no significant public trading market had been established for the Company's common stock. The Company does not believe that listings of bid and asking prices for its stock are indicative of the actual trades of its stock, since trades are made infrequently. The following table shows high and low trading prices for each quarter in 2020, 2019, and 2018 as aggregated by Yahoo!.com from various OTC sources.

 

   Price Per Share
   High  Low
       
2020          
First Quarter  $2.86   $1.01 
Second Quarter  $1.96   $1.05 
Third Quarter  $2.22   $1.51 
Fourth Quarter  $2.65   $1.52 
           
2019          
First Quarter  $3.97   $2.60 
Second Quarter  $3.70   $2.12 
Third Quarter  $3.00   $1.63 
Fourth Quarter  $2.35   $1.35 
           
2018          
First Quarter  $3.86   $2.00 
Second Quarter  $3.98   $2.11 
Third Quarter  $3.95   $3.25 
Fourth Quarter  $4.00   $2.09 
           
           
           
During the First Quarter of 2020 subsequent to year end, the following high and low prices were recorded for the Company's common stock.
    Price Per Share 
    High    Low 
2021          
First Quarter  $2.49   $1.61 

  

There is no amount of common stock that is subject to outstanding warrants to purchase, or securities convertible into, common stock of the Company.

 

According to the transfer records of the Company on April 15, 2021, common stock of the Company was held by approximately 535 known holders of record. 

 

The following chart compares the yearly percentage change in the cumulative total stockholder return on the Company's Common Stock during the five years ended December 31, 2020 with the cumulative total return of the Standard and Poor's 500 Stock Index and of the Dow Jones U.S. Exploration and Production Index (formerly Dow Jones Secondary Oil Stock Index). The comparison assumes $100 was invested on December 31, 2015 in the Company's Common Stock and in each of the foregoing indices and assumes reinvestment of dividends. The Company paid no dividends on its Common Stock during the five-year period. Figures shown are past results and are not predictive of results in future periods. 

29


 
 

 

Stock Performance Chart

 

Comparison of Five-Year Cumulative Total Return Among

Spindletop Oil & Gas Co., S&P 500 Index and

the Dow Jones U.S. Exploration and Production Index

 

 

 

 

 

The Company has not paid any dividends since its reorganization and it is not contemplated that it will pay any dividends on its Common Stock in the foreseeable future.

 

The Registrant currently serves as its own stock transfer agent and registrar.

 

The Company has not approved nor authorized any standing repurchase program for its common stock.

 

During the fiscal year ended December 31, 2020, the Company made the following one-time repurchase of its common stock:

 

Effective April 6, 2020, and June 20, 2020, the Company repurchased 45,036 shares and 9,248 shares of its common stock from a non-controlling, unaffiliated shareholder of the Company for a negotiated purchase price of $56,295 and $11,560 respectively, or $1.25 per share.

 

The repurchased shares are held as Treasury Stock.

 

 

 

30


 
 

 

Item 6. Selected Financial Data

 

The selected financial information presented should be read in conjunction with the consolidated financial statements and the related notes thereto.

 

 

   For the years ended December 31,
   2020  2019  2018  2017  2016
                
Total Revenue  $4,179,000   $5,587,000   $6,734,000   $5,604,000   $4,515,000 
Net Income (Loss)   (894,000)   (646,000)   264,000    (3,000)   (1,329,000)
Earnings (Loss) per Share  ($0.13)  ($0.09)  $0.04   $0.00   ($0.19)
                          

 

           
   For the years ended December 31,  
  2020 2019 2018 2017 2016
           
Total Assets $22,670,000 $23,898,000 $24,398,000 $24,132,000 $23,365,000
Long-Term Debt                  -                     -                     -                     -                     -   

 

 

 

Item 7. Management's Discussion and Analysis of Financial Condition And

Results of Operations

 

 

The following discussion should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this report.

 

This Report on Form 10-K may contain forward-looking statements within the meaning of the federal securities laws, principally, but not only, under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” We caution investors that any forward-looking statements in this report, or which management may make orally or in writing from time to time, are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “expect,” “intend,” “may,” “might,” “plan,” “estimate,” “project,” “should,” “will,” “result” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors, that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We caution you that while forward-looking statements reflect our good faith beliefs when we make them, they are not guarantees of future performance and are impacted by actual events when they occur after we make such statements. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

 

Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the factors listed and described at Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K discussed above, which investors should review.

 

31


 
 

 

Other sections of this report may also include suggested factors that could adversely affect our business and financial performance. Moreover, we operate in an extremely competitive and rapidly changing environment. New risks may emerge from time to time and it is not possible for management to predict all such matters; nor can we assess the impact of all such matters on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Investors should also refer to our quarterly reports on Form 10-Q for future periods and current reports on Form 8-K as we file them with the SEC, and to other materials we may furnish to the public from time to time through Forms 8-K or otherwise.

 

 

Oil and Gas Properties

 

The Company follows the full cost method of accounting for its oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and natural gas reserves are capitalized in cost centers on a country-by-country basis. For each cost center, capitalized costs, less accumulated amortization and related deferred income taxes, shall not exceed an amount (the cost center ceiling) equal to the sum of:

a)The present value of estimated future net revenues computed by applying current prices of oil and natural gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus
b)The cost of properties not being amortized; plus
c)The lower of cost or estimated fair market value of unproven properties included in the costs being amortized; less
d)Income tax effects related to differences between the book and tax basis of the properties.

 

If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling (as defined), the excess is charged to expense and separately disclosed during the period in which the excess occurs. Amounts required to be written off will not be reinstated for any subsequent increase in the cost center ceiling. All the Company’s oil and gas properties are located within the United States and are accounted for in one cost center.

 

In order to test the cost center ceiling, the Company prepares a “Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves (Unaudited)” as of the end of each calendar year (“the Reserve Report”). The Company prepared its annual Reserve Report as of December 31, 2020.

 

Reserve estimates are prepared in accordance with standard Security and Exchange Commission guidelines. The estimated net future net cash flows for 2020, 2019, and 2018, were computed using a 12-month average price, calculated as the un-weighted arithmetic average of the first day-of-the month price for each month of the year. Lease operating costs, compression, dehydration, transportation, ad valorem taxes, severance taxes, and federal income taxes were deducted. Costs and prices were held constant and were not escalated over the life of the properties. No deductions were made for interest. The annual discount of estimated future cash flows is defined, for use herein, as future cash flows discounted at 10% per year, over the expected period of realization.

 

These Reserve Reports do not purport to present the fair market value of a company's oil and gas properties. An estimate of such value should consider, among other factors, anticipated future prices of oil and natural gas, the probability of recoveries in excess of existing proved reserves, the value of probable reserves and acreage prospects, and perhaps different discount rates.

 

It should be noted that estimates of reserve quantities, especially from new discoveries, are inherently imprecise and subject to substantial revision. Accordingly, the estimates are expected to change as more current information becomes available. It is reasonably possible that, because of changes in market conditions or the inherent imprecision of these reserve estimates, that the estimates of future cash inflows, future gross revenues, the amount of oil and natural gas reserves, the remaining estimated lives of the oil and natural gas properties, or any combination of the above may be increased or reduced in the near term. If reduced, the carrying amount of capitalized oil and gas properties may be reduced materially in the near term.

32


 
 

 

During the year ended December 31, 2020, average quarterly crude oil prices per bbl for the Company were $45.26, $23.46, $36.48, and $44.94. During the year ended December 31, 2019, average quarterly crude oil prices per bbl for the Company were $48.27, $54.67, $54.84, and $51.42 respectively. During the year ended December 31, 2018, average quarterly crude oil prices per bbl for the Company were $51.95, $65.00, $57.61, and $52.48 respectively.

 

During the year ended December 31, 2020, average quarterly natural gas prices per mcf for the Company were $1.26, $1.06, $1.88, and $2.20. During the year ended December 31, 2019, average quarterly natural gas prices per mcf for the Company were $2.64, $2.10, $1.62, and $2.07 respectively. During the year ended December 31, 2018, average quarterly natural gas prices per mcf for the Company were $3.03, $2.55, $2.74, and $2.93 respectively.

 

The increases or decreases in the Company’s product prices have a direct effect on its cash flow, profits, projected development and drilling schedules, and the estimated net present value of its proved reserves. Prolonged, substantial decreases in oil and natural gas prices would likely have a material adverse effect on the Company’s business, financial condition, and results of operations, and could further limit the Company's access to liquidity and credit and could hinder its ability to satisfy its capital requirements.

 

We may incur impairments to our crude oil and natural gas properties in 2021 if prices do not increase. The possibility and amount of any future impairment is difficult to predict, and will depend, in part, upon future crude oil and natural gas prices to be utilized in the ceiling test, estimates of proved reserves and future capital expenditures and operating costs. We cannot assure you that we will not experience write-downs in the future. If commodity prices decline or if any of our proved reserves are revised downward, a write-down of the carrying value of our oil and gas properties may be required.

 

Liquidity and Capital Resources

 

The Company's operating capital needs, as well as its capital spending program, are generally funded from cash flow generated by operations. Because future cash flow is subject to a number of variables, such as the level of production and the sales price of oil and natural gas, the Company can provide no assurance that its operations will provide cash sufficient to maintain current levels of capital spending. Substantial decreases in crude oil and natural gas prices would likely have a material adverse effect on the Company’s business, financial condition, and results of operations, and could further limit the Company's access to liquidity and credit and could hinder its ability to satisfy its capital requirements. Accordingly, the Company may be required to seek additional financing from third parties to fund its exploration and development programs.

 

As noted in our Results of Operations discussion below, the Company has focused on lowering costs through headcount reduction by attrition and spending only on essential general and administrative expenditures. To raise additional revenue, the Company is pursuing the acquisition of new operated and non-operated reserves through acquisitions of producing properties and drilling ventures. The Company believes that it is well positioned to take advantage of the declining prices for existing wells with its cash reserves and ability to borrow to effect any acquisition. 

 

Results of Operations 

 

2020 Compared to 2019

 

Oil and natural gas revenues for the year ended December 31, 2020 were $2,924,000 compared to $4,631,000 for the year ended December 31, 2019, a decrease of $1,707,000 or 36.9%.

 

Oil revenue for 2020 was approximately $1,552,000 compared to $2,726,000 for 2019, a decrease of approximately $1,174,000 or 43.1%. Oil prices decreased to an average of $41.71 per barrel in 2020 from an average of $55.76 per barrel in 2019, a decrease of $14.05 per barrel or 25.2%. Oil sales decreased to 30,900 barrels from approximately 41,919 barrels in 2019, a decrease of 11,019 barrels or 26.29%.

 

33


 
 

Natural gas revenue for 2020 was approximately $1,372,000 compared to $1,905,000 for 2019, a decrease of approximately $533,000 or 28.0%. Natural gas sales decreased to approximately 743,000 mcf in 2020 from approximately 916,000 mcf in 2019, a decrease of approximately 173,000 mcf or 18.9%. Natural gas prices decreased to an average of $1.84 per mcf in 2020 a decrease of $0.24 or 11.54% from an average of $2.08 per mcf in 2019.

 

The decrease in oil revenue is due to a decrease in crude oil prices and a decrease in volumes sold during 2020 compared to 2019. The decrease in natural gas revenue during 2020 is due to the decrease in natural gas prices received. Natural gas volumes sold decreased during 2020 compared to 2019. A portion of the decrease was due to the Company’s decision to shut-in some of its wells during a period of time when natural gas prices fell to a level which would not cover the operating expenses.

 

Revenue from lease operations was approximately $233,000 for 2020, compared to approximately $315,000 in 2019, a decrease of approximately $82,000 or 26.0%. Revenue from lease operations results from field supervision charges on operated wells as well as administrative overhead billed to working interest owners.

 

Revenues from gas gathering, compression, and equipment rental for 2020 were approximately $89,000, a decrease of $36,000 or 28.8% from approximately $125,000 in 2019. The decrease was due primarily to a decrease in natural gas volume sold through PPC as wells were shut in due to low natural gas pricing. Equipment rental revenue also decreased as wells were shut in during 2020.

 

Real estate rental revenue for 2020 was approximately $272,000, an increase of $24,000 or 9.7% from approximately $248,000 in 2019. The increase was due to new office leases signed during the year.

 

Interest income for 2020 was approximately $216,000, an increase of $23,000 from approximately $193,000 in 2019 or 11.92%. The increase in interest income is due to the Company investing its funds in both long-term and short-term certificates of deposit and depository accounts paying higher rates of interest than those received in money market accounts.

 

Debt forgiveness income. On May 1, 2020, the Company received funding of a loan pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act, enacted March 27, 2020 in the amount of $403,573. In December 2020, the Company received notification that the Small Business Administration has authorized full forgiveness of the PPP loan. The amount of the loan which was fully forgiven is recorded as debt forgiveness income.

 

Other revenue for 2020 was $42,000, as compared to $75,000 in 2019, a decrease of $33,000 or 44.0%.

 

Lease operating expenses 2020 were $1,324,000 as compared to $1,754,000 in 2019, a net decrease of approximately $430,000, or 24.5%. There were both increases and decreases within different segment categories of lease operating expenses. Amounts billed by third-party operators as operating expenses on non-operated properties decreased by approximately $65,000. The remaining decrease of $365,000 represents net increases and decreases on various operated properties due to general price fluctuations and levels of operation activity. A number of both operated and non-operated wells were shut-in during 2020 due to low oil and gas prices.

 

Production taxes, gathering, and marketing expenses for 2020 were approximately $675,000 compared to $828,000 in 2019, a decrease of approximately $153,000, or 18.5%. This decrease was directly related to the decrease in oil and natural gas production and revenues.

 

Pipeline and rental expenses for 2020 were $9,000 compared to $32,000 for 2019, a decrease of $23,000, or 71.9%. The decrease is primarily due substantially to non-recurring repair and maintenance expenses in 2019 as compared to 2020.

 

Real estate expenses in 2020 were approximately $174,000 compared to $179,000 during the same period in 2019, a decrease of approximately $5,000 or 2.8%.

 

Depreciation and amortization expense for 2020 was $452,000 compared to $456,000 for 2019, a decrease of approximately $4,000 or 0.9%. Amortization of the full cost pool of oil and natural gas assets for 2020 was $393,000 compared to $394,000 for the year ended 2019, a decrease of approximately $1,000 or 0.3%. The Company re-evaluated its proved oil and gas reserves as of December 31, 2020 and decreased its estimated total proved reserves by approximately 352,000 BOE to 630,000 BOE at the end of 2020 compared to 982,000 BOE at the end of 2019, a decrease of approximately 35.9%. Sales of oil and natural gas products during 2020 decreased by approximately 40,000 BOE from approximately 195,000 BOE in 2019 to approximately 155,000 BOE in 2020, a decrease of 20.5 %. (See Footnote 18 to the Financial Statements). This resulted in an increase in the depletion rate factor from 16.543% in 2019 on an unamortized full cost pool base of $2,381,000 to a depletion rate factor of 19.722% on an unamortized full cost pool base of $1,994,000 in 2020. The net decrease in the unamortized full cost pool base of $388,000 is due mainly to a depletion charge of $394,000 from 2019. 

34


 
 

Asset Retirement Obligation (“ARO”) accretion expense for 2020 was $139,000 up from $120,000 in 2019, an increase of $19,000 or 15.8%. The ARO calculation is based on the Company’s annual reserve report and takes into consideration the changes between years of the Company’s estimated obligation to plug its interests in existing wells. This estimated future cost is discounted using a 10% discount factor based on the estimated life of each property. Changes are incorporated as applicable into the full cost pool and the carrying value of the liability. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability.

 

General and administrative expenses for 2020 were approximately $2,640,000 as compared to approximately $2,967,000 for 2019, a decrease of approximately $327,000 or 11.0%. The decrease is from reduced salary, wages, other personnel costs, and reduced office, computer and other expenses.

 

 

2019 Compared to 2018

 

 

Oil and natural gas revenues for the year ended December 31, 2019 were $4,631,000 compared to $5,848,000 for the year ended December 31, 2018, a decrease of $1,217,000 or 20.8%.

 

Oil revenue for 2019 was approximately $2,726,000 compared to $3,350,000 for 2018, a decrease of approximately $624,000 or 18.6%. Oil prices decreased to an average of $55.76 per barrel in 2019 from an average of $62.09 per barrel in 2018, a decrease of $6.33 per barrel or 10.2%. Oil sales decreased to 41,919 barrels from approximately 43,136 barrels in 2018, a decrease of 1,217 barrels or 2.8%.

 

Natural gas revenue for 2019 was approximately $1,905,000 compared to $2,498,000 for 2018, a decrease of approximately $593,000 or 23.7%. Natural gas sales increased to approximately 916,000 mcf in 2019 from approximately 875,000 mcf in 2018, an increase of approximately 41,000 mcf or 4.7%. Natural gas prices decreased to an average of $2.08 per mcf in 2019, a decrease of $0.78 or 27.3% from an average of $2.86 per mcf in 2018.

 

The decrease in oil revenue is due to a decrease in crude oil prices and a decrease in volumes sold during 2019 compared to 2018. Oil production from operated properties increased slightly during 2019 but decreases in oil production on non- operated properties contributed to the overall production decrease. The decrease in natural gas revenue during 2019 is due to the decrease in natural gas pricing. Natural gas volumes sold increased during 2019 compared to 2018; however, the 27% decrease in pricing resulted in an overall decrease in natural gas revenue.

 

Revenue from lease operations was approximately $315,000 for 2019, compared to approximately $258,000 in 2018, an increase of approximately $57,000 or 22.1%. Revenue from lease operations results from field supervision charges on operated wells as well as administrative overhead billed to working interest owners.

 

Revenues from gas gathering, compression, and equipment rental for 2019 were approximately $125,000, a decrease of $11,000 or 8.1% from approximately $136,000 in 2018. The decrease was due primarily to a decrease in natural gas volume sold through PPC as wells were shut in due to low natural gas pricing. Equipment rental revenue also decreased as wells were shut in during 2019.

 

Real estate rental revenue for 2019 was approximately $248,000, an increase of $16,000 or 6.9% from approximately $232,000 in 2018. The increase was due to scheduled tenant rent increases at the Company’s corporate office building.

 

Interest income for 2019 was approximately $193,000, an increase of $12,000 from approximately $181,000 in 2018 or 6.6%. The increase in interest income was due to the Company investing its funds in both long-term and short-term certificates of deposit and depository accounts paying higher rates of interest than those received in prior years.

 

Other revenue for 2019 was $75,000, as compared to $79,000 in 2018, a decrease of $4,000 or 5.1%.

35


 
 

Lease operating expenses 2019 were $1,754,000 as compared to $1,656,000 in 2018, a net increase of approximately $98,000, or 5.9%.  There were both increases and decreases within different segment categories of lease operating expenses. Amounts billed by third-party operators as operating expenses on non-operated properties increased by approximately $77,000 due to large workovers and unitization expenses. The remaining increase of $21,000 represents net increases and decreases on various properties due to general price fluctuations and levels of operation activity.

 

Production taxes, gathering, and marketing expenses for 2019 were approximately $828,000 compared to $835,000 in 2018, a decrease of approximately $7,000, or 0.8%. This decrease was directly related to the decrease in oil and natural gas production and revenues.

 

Pipeline and rental expenses for 2019 were $32,000 compared to $49,000 for 2018, a decrease of $17,000, or 34.7%. The decrease is primarily due to substantially lower levels of compressor repairs in 2019 as compared to 2018.

 

Real estate expenses in 2019 were approximately $179,000 compared to $196,000 during the same period in 2018, a decrease of approximately $17,000 or 8.7%. The decrease is primarily due to lower property taxes and utilities in 2019 as compared to 2018.

 

Depreciation and amortization expense for 2019 was $456,000 compared to $499,000 for 2018, a decrease of $43,000 or 8.6%. Amortization of the full cost pool of oil and natural gas assets for 2019 was $394,000 compared to $439,000 for the year ended 2018, a decrease of $45,000 or 10.3%. The Company re-evaluated its proved oil and gas reserves as of December 31, 2019 and decreased its estimated total proved reserves by approximately 421,000 BOE to 982,000 BOE at the end of 2019 compared to 1,403,000 BOE at the end of 2018, a decrease of approximately 30.0%. Sales of oil and natural gas products during 2019 increased by approximately 6,000 BOE from approximately 195,000 BOE in 2019 to approximately 189,000 BOE in 2018, an increase of 3.2 %. (See Footnote 18 to the Financial Statements). This resulted in an increase in the depletion rate factor from 11.868% in 2018 on an unamortized full cost pool base of $3,700,000 to a depletion rate factor of 16.543% on an unamortized full cost pool base of $2,382,000 in 2019. The net decrease in the unamortized full cost pool base of $1,318,000 was due in part to accumulated depletion of $439,000 from 2018. In addition, $918,000 of proceeds from sales of properties was credited to the full cost pool in accordance with GAAP.

 

Asset Retirement Obligation (“ARO”) accretion expense for 2019 was $120,000 down from $189,000 in 2018, a decrease of $69,000 or 36.5%. The ARO calculation is based on the Company’s annual reserve report and takes into consideration the changes between years of the Company’s estimated obligation to plug its interests in existing wells. This estimated future cost is discounted using a 10% discount factor based on the estimated life of each property. Changes are incorporated as applicable into the full cost pool and the carrying value of the liability. Accretion expense measures and incorporates changes due to the passage of time into the carrying amount of the liability.

 

General and administrative expenses for 2019 were approximately $2,967,000 as compared to approximately $2,943,000 for 2018, an increase of approximately $24,000 or 0.8%.

 

 

36


 
 

  

Item 8. Consolidated Financial Statements and

Schedules Index at Page 44  

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

 

None

Item 9A. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our Principal Executive Officer and Principal Financial and Accounting Manager, we conducted an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e)) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial and Accounting Manager, as appropriate to allow timely decisions regarding required disclosure. Based on this evaluation, our Principal Executive Officer and Principal Financial and Accounting Manager concluded that our disclosure controls and procedures were effective as of the end of the period covered by this report.

 

Management’s Report on Internal Control over Financial Reporting

 

Our management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company. Our internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements in accordance with generally accepted accounting principles. There are inherent limitations to the effectiveness of any system of internal control over financial reporting. These limitations include the possibility of human error, the circumvention of overriding of the system and reasonable resource constraints. Because of its inherent limitations, our internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with policies or procedures may deteriorate.

Management assessed the effectiveness of the Company’s internal controls over financial reporting as of December 31, 2020. In making this assessment, management used the criteria set forth in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on management’s assessments and those criteria, management has concluded that Company’s internal control over financial reporting was effective as of December 31, 2020.

This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial report. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this annual report. 

 

Changes in Internal Control over Financial Reporting

In preparation for management’s report on internal control over financial reporting, we documented and tested the design and operating effectiveness of our internal control over financial reporting. There were no changes in our internal controls over financial reporting (as such term is defined in Exchange Act Rule 13a-15(f)) that occurred during the quarter ended December 31, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 

  

37


 
 

.

 

Item 9B. Other Information

 

Not Applicable

 

 

PART III

 

Item 10. Directors, Executive Officers, and Corporate Governance

 

The Directors and Executive Officers of the Company and certain information concerning them is set forth below:
     
Name Age Position
     
Chris G. Mazzini 63 Chairman of the Board, Director, and President
     
Michelle H. Mazzini 59 Director, Vice President, Secretary, and Treasurer
     
Ted R. Munselle 65 Director

 

 

All directors hold offices until the next annual meeting of the shareholders or until their successors are duly elected and qualified. Officers of the Company serve at the discretion of the Board of Directors.

 

Business Experience

 

Chris Mazzini, Chairman of the Board of Directors and President, graduated from the University of Texas at Arlington in 1979 with a Bachelor of Science degree in Geology. He started his career in the oil and gas industry in 1978 and began as a Petroleum Geologist with Spindletop in 1979, working the Fort Worth Basin of North Texas. He became Vice President of Geology at Spindletop in 1982 and served in that capacity until he left the Company in 1985 when he founded Giant Energy Corp. ("Giant"). Mr. Mazzini has served as President of Giant since then. He rejoined the Company in December, 1999 when he through Giant, purchased controlling interest. Mr. Mazzini has been Chairman of the Board of Directors and President of the Company since 1999 and is a Certified and Licensed Petroleum Geologist. Mr. Mazzini has worked numerous geological basins throughout the United States with an emphasis on the Fort Worth Basin. He is responsible for several new field discoveries in the Fort Worth Basin.

 

Michelle Mazzini, Vice President and General Counsel, received her Bachelor of Science Degree in Business Administration (Major: Accounting) from the University of Southwestern Louisiana (now named University of Louisiana at Lafayette) where she graduated magna cum laude in 1985. She earned her law degree from Louisiana State University where she graduated Order of the Coif in 1988. Ms. Mazzini began her career with Thompson & Knight, a large law firm in Dallas, where she focused her practice on general corporate and finance transactions. She also worked as Corporate Counsel for Alcatel USA, a global telecommunications manufacturing corporation where her practice was broad-based. Ms. Mazzini serves as Vice President and General Counsel of the Company.

 

Mr. Ted R. Munselle has been a member of the Board of Directors of Spindletop Oil & Gas Co. since 2012. Mr. Munselle is Vice President and Chief Financial Officer (since October 1998) of Landmark Nurseries, Inc. He is a Certified Public Accountant (since 1980) who was employed as an Audit Partner in two Dallas, Texas based CPA firms (1986 to 1998), as an Audit Manager at Grant Thornton, LLP (1983 to 1986) and as Audit Staff to Audit Supervisor at Laventhol & Horwath (1977 to 1983). Mr. Munselle is also a director (since February 2004) of American Realty Investors, Inc. and Transcontinental Realty Investors, Inc., both of which are Nevada corporations which have their common stock listed and traded on the New York Stock Exchange (“NYSE”), as well as a director (since May 2009) of Income Opportunity Realty Investors, Inc., a Nevada corporation which has its common stock listed and traded on the NYSE American.

 

 

38


 
 

 

Key and Technical Employees

 

In addition to the services provided by Mr. Mazzini and Ms. Mazzini (both of whom have biographies listed above), the Company also relies extensively on the key and the technical employees identified below.

 

Dave Chivvis, Petroleum Engineer, joined the Company in May 2008. Mr. Chivvis earned his Bachelor of Science degree in Petroleum Engineering from Texas A&M University in 1993. After graduation, he worked for Cox Resources Corporation, an independent oil and gas company located in Dallas, Texas. Mr. Chivvis worked in various engineering areas from operations to acquisitions of oil and gas properties in Texas, Oklahoma, Louisiana, and Arkansas. He then moved to Los Angeles in 2001 to pursue other opportunities before moving back to Texas to join the Company.

 

Dick A. Mastin, Petroleum Landman, has been a full-time employee of the Company since February 2006. Mr. Mastin graduated cum laude from Stephen F. Austin State University in 1980 with a Bachelor of Science in Forestry and a minor in General Business. From September of 1980 until December of 1985, Mr. Mastin worked for Spindletop Oil & Gas Co. as a Petroleum Landman. He received his Master of Science in Management and Administrative Sciences from the University of Texas at Dallas in 1990. In January of 1987, he took a position with the Dallas office of the Federal Bureau of Investigation. After a year with the Bureau, he accepted a position with the Internal Revenue Service as a Revenue Agent. Fifteen of his eighteen years with the Service were spent in the Large and Mid-Sized Business unit auditing tax returns of the largest business entities.

 

Glenn E. Sparks is the Land Director and also acts as Associate General Counsel to the Company. Mr. Sparks was previously employed as a Landman by the Company from 1982 through 1986, prior to attending law school. Mr. Sparks holds a B.B.A. with a concentration in Finance from the University of Texas at Arlington, and a J.D. from Texas Tech University School of Law. From 1990 to 2005, Mr. Sparks practiced law in a private practice focusing primarily on oil and gas law and real estate, as a partner in the law firm of Logan & Sparks, PLLC, and has acted as outside legal counsel for the Company in numerous oil and gas transactions during his years in private practice. Mr. Sparks left his private law practice and joined the Company again as an employee in his current position in 2005. Mr. Sparks is Board Certified in Oil & Gas Mineral Law by the Texas Board of Legal Specialization.

 

 

Family Relationships

 

Michelle Mazzini, Vice President, Secretary, Treasurer, and General Counsel is the wife of Chris Mazzini, Chairman of the Board and President. 

 

Involvement in Certain Legal Proceedings

 

None of the directors or executive officers of the Registrant, during the past five years, has been involved in any civil or criminal legal proceedings, bankruptcy filings or has been the subject of an order, judgment, or decree of any Federal or State authority involving Federal or State securities laws. 

 

 

Board Meetings, Committees, and Corporate Governance

 

The Board of Directors met one time in 2020. The Board has established an audit committee. The Board is small and all members of the Board serve on the audit committee. The function of the audit committee is to assist the Board in fulfilling its oversight responsibilities by reviewing the financial information that will be provided to the shareholders and others, the systems of internal controls that management and the Board of Directors have established, and the audit process. During 2020, Mr. Munselle was Chairman of the Audit Committee. Mr. Munselle is qualified as an “audit committee financial expert” within the meaning of SEC Regulations.

 

With respect to nominations to the Board, compensation, financial planning, strategies, and business alternatives, the Company does not have separate committees as the Board is small and all members of the Board participate in making recommendations and decisions on these matters.

 

 

39


 
 

 

Item 11. Executive Compensation

 

Cash Compensation

 

Cash compensation including salaries and bonuses, of $404.447, $227,959, and, $227,389 was paid to Mr. Mazzini in 2020, 2019, and 2018 respectively. Cash compensation including salaries and bonuses of $332,898, $182,493, and $157,558 was paid to Ms. Mazzini in 2020, 2019, and 2018 respectively.

 

The Company has no stock option or incentive plan, does not grant any plan-based awards or awards of equity securities. The Company has no pension plan for its employees.

 

Compensation Pursuant to Plan

 

None

 

Other Compensation

 

Key employees and officers of the Company may sometimes be assigned overriding royalty interests and/or carried working interests in prospects acquired by or generated by the Company. These interests normally vary from less than one percent to three percent for each employee or officer. There is no set formula or policy for such program, and the frequency and amounts are largely controlled by the economics of each particular prospect. We believe that these types of compensation arrangements enable us to attract, retain and provide additional incentives to qualified and experienced personnel.

 

Compensation of Directors

 

Directors who are employees of the Company are not currently compensated for their services on the Board. Mr. Munselle was paid a director’s fee of $10,000 in 2020, $10,000 in 2019 and $10,000 in 2018 to compensate him for his position as the Board of Directors’ Financial Expert. Mr. Munselle also receives $2,500 for each Board of Directors’ meeting during the year other than the annual meeting.

 

Termination of Employment and Change of Control Arrangement

 

There are no plans or arrangements for payment to officers or directors upon resignation or a change in control of the Registrant.

 

 

 

 

40


 
 

 

Item 12. Security Ownership of Certain Beneficial Owners and Management

 

Security Ownership of Certain Beneficial Owners and Managers

 

The table below sets forth the information indicated regarding ownership of the Registrant's common stock, $.01 par value, the only outstanding voting securities, as of April 15, 2021 with respect to: (i) any person who is known to the Registrant to be the owner of more than five percent of the Registrant's common stock; (ii) the common stock of the Registrant beneficially owned by each of the directors of the Registrant, and (iii) by all officers and directors as a group. Each person has sole investment and voting power with respect to the shares indicated, except as otherwise set forth in the footnotes to the table.

 

 

Name and Address
of Beneficial Owner
  Number
of Shares
  Nature of
Beneficial
Ownership *
  Percent Based on
Outstanding
Percent of
Class **
          
Chris Mazzini and Michelle Mazzini   5,900,543    (1)   87.35%
12850 Spurling Rd., Suite 200               
Dallas, Texas 75230               
                
All officers and directors as a group   5,900,543         87.35%
                

 

 

* “Beneficial Ownership” means the sole or shared power to vote, or direct the voting of, a security or investment power with respect to a security, or any combination thereof.

 

** Percentages are based upon 6,755,318 shares of Common Stock outstanding at April 15, 2021.

(1) Chris Mazzini directly owns 39,654 shares (0.5870%). Giant Energy Corp. directly owns 5,860,889 shares (86.7596%). Chris Mazzini owns 100% of the common stock of Giant Energy Corp.

 

 

Changes in control

 

The Company is not aware of any arrangements or pledges with respect to its securities that may result in a change in control of the Company.

 

 

Item 13. Certain Relationships and Related Transactions and Director Independence

 

Transactions with management and others

 

Certain officers, directors and related parties, including entities controlled by Mr. Mazzini, the President and Chief Executive Officer, have engaged in business transactions with the Company which were not the result of arm's length negotiations between independent parties. Our management believes that the terms of these transactions were as favorable to us as those that could have been obtained from unaffiliated parties under similar circumstances. All future transactions between us and our affiliates will be on terms no less favorable than could be obtained from unaffiliated third parties and will be approved by a majority of the disinterested members of our Board of Directors.

 

41


 
 

Certain Business Relationships

 

On October 1, 2008, Giant entered into an Administrative Services Agreement with the Company whereby Giant pays the Company $250 per month for the Company providing administrative services to Giant. On October 1, 2008, the Company entered into a similar agreement with Giant NRG, LP (“NRG”) a limited partnership with Chris Mazzini and Michelle Mazzini as limited partners. Under this agreement NRG pays a monthly fee of $1,500 to the Company in exchange for the Company providing certain administrative services to NRG. The Company has entered into a similar arrangement with Peveler Pipeline, LP ("Peveler"), whereby Peveler pays the Company a monthly charge of $250 in exchange for the Company providing administrative services to Peveler. Chris and Michelle Mazzini are the owners of Peveler Pipeline, LP, a limited partnership which owns a pipeline gathering system servicing wells owned by Giant, another related entity, described elsewhere in this report. The Company entered into a similar agreement with M-R Ventures, LLC (“MRV”) a limited liability company that operates some wells in Michigan, and that is owned by Chris and Michelle Mazzini. Pursuant to this agreement, MRV pays the Company a monthly fee in the amount of $500 for certain administrative services that the Company provides to MRV. The Company entered into a similar agreement with Reserve Royalty Company (“Reserve”) a sole proprietorship that holds some royalty interests owned by Chris and Michelle Mazzini. Pursuant to this agreement, Reserve pays the Company a monthly fee in the amount of $350 for certain administrative services that the Company provides to Reserve. See also note 5 to the Financial Statements. 

 

Director Independence

 

Although the Company is not a listed issuer, the Board of Directors has determined to utilize a definition of independence from the NYSE American exchange standard. Utilizing that standard, the Board of Directors, which consists of only three individuals, two of whom are also executive officers of the Company, has determined that Director Ted R. Munselle, is “independent”, utilizing the standards of the NYSE American exchange.

 

 

Item 14. Principal Accounting Fees and Services

 

The following table sets forth the aggregate fees for professional services rendered to Spindletop Oil & Gas Co. and Subsidiaries for the years 2020 and 2019 by accounting firm, Farmer, Fuqua, & Huff, P.C.

 

 

Type of Fees  2020  2019
       
Audit Fees  $50,500   $50,000 
Audit Related Fees   —      —   
Tax Fees   —      —   
All other fees   —      —   

 

 

 

Members of the Board of Directors (the "Board") fulfill the responsibilities of an audit committee and have established policies and Procedures for the approval and pre-approval of audit services and permitted non-audit services. The Board has the responsibility to engage and terminate Farmer, Fuqua, & Huff, P.C. an independent registered public accounting firm, to pre-approve their performance of audit services and permitted non-audit services, to approve all audit and non-audit fees, and to set guidelines for permitted non-audit services and fees. All the fees for 2020 and 2019 were pre-approved by the Board or were within the pre-approved guidelines for permitted non-audit services and fees established by the Board, and there were no instances of waiver of approved requirements or guidelines during the same periods.

 

 

 

 

 

 

42


 
 

 

 

 

 

 

 

 

 

 

PART IV

 

Item 15. Exhibits and Financial Statement Schedules

 

 

 

a. The following documents are filed as a part of this report:  
     
  (1) FINANCIAL STATEMENTS:  The following financial statements of the Registrant and Report of Independent Registered Public Accounting Firm therein are filed as part of this Report on Form 10-K:
     
    Page
  Report of Farmer, Fuqua & Huff, P.C
     Independent Registered Public Accounting Firm
47-48
  Consolidated Balance Sheets 49-50
  Consolidated Statements of Operations 51
  Consolidated Statements of Changes in Stockholders' Equity 52
  Consolidated Statements of Cash Flows 53
  Notes to Consolidated Financial Statements 54
     
     
  (2) FINANCIAL STATEMENT SCHEDULES:  
     
  Schedule II - Valuation and Qualifying Accounts 74
  Schedule III - Real Estate and Accumulated Depreciation 74
     
     
  Other financial statement schedules have been omitted because the information required to be set forth therein is not applicable, is immaterial or is shown in the consolidated financial statements or notes thereto.

 

 

 

 

 

 

43


 
 

 

 

 

 

 

(3) EXHIBITS: The following documents are filed as exhibits (or are incorporated by reference as indicated) into Report:

     
Exhibit
Designation
  Exhibit Description
     
3.1   Articles of Incorporation of Spindletop Oil & Gas Co. (previously filed with our General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990)
     
3.2   Bylaws of Spindletop Oil & Gas Co. (previously filed with our General Form for Registration of Securities on Form 10, filed with the Commission on August 14, 1990)
     
14   Code of Ethics for Senior Financial Officers (Incorporated by reference to Exhibit 14 to the registrant's annual report Form 10-K for the fiscal year ended December 31, 2005)
     
21 *   Subsidiaries of the Registrant
     
31.1 *   Rule 13a-14(a) Certification of Chief Executive Officer
     
31.2 *   Rule 13a-14(a) Certification of Chief Financial Officer
     
32. *   Officers' Section 1350 Certifications
     
*  Filed herewith  

 

 

 

(b) The Index of Exhibits is included following the Financial Statement Schedules beginning at page 76 of this Report.

 

(c) The Index to Consolidated Financial Statements and Supplemental Schedules is included following the signatures, beginning at page 47 of this Report

 

(d) Supplemental Reserve Information (unaudited) is included in Note 18 to the Consolidated Financial Statements.

 

 

 

Item 16. Form 10-K Summary

 

Optional and not included herein.

 

 

 

44


 
 

 

 

 

 

 

 

SIGNATURES
 
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to have been signed in its behalf by the undersigned, thereunto duly authorized.
       
SPINDLETOP OIL & GAS CO.
       
Date: April 15, 2021      
       
    By:/s/ Chris G. Mazzini  
    Chris G. Mazzini  
    President, Principal Executive Officer
       
       
Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following on behalf of the Registrant and in the capacities and on the dates indicated.
       
Signatures      
Principal Executive Officers   Capacity Date
       
       
/s/  Chris Mazzini      
    President, Director April 15, 2021
Chris Mazzini   (Chief Executive Officer  
       
       
/s/  Michelle Mazzini      
    Vice President, Secretary, April 15, 2021
Michelle Mazzini   Treasurer, Director  
       
       
/s/  Ted R. Munselle      
    Director April 15, 2021
Ted R. Munselle      
       
       
/s/  Robert E. Corbin   Principal Financial Officer April 15, 2021
    and Accounting Manager  

Robert E. Corbin

 

     

 

 

 

 

 

 

45


 
 

 

 

 

 

 

 

 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
Index to Consolidated Financial Statements and Schedules
   
   
  Page
   
Report of Independent Registered Public Accounting Firm 47-48
   
Consolidated Balance Sheets - December 31, 2020 and 2019 49-50
   
Consolidated Statements of Operations for the Years Ended  
December 31, 2020, 2019 and 2018 51
   
Consolidated Statements of Changes in Shareholders' Equity  
for the Years Ended December 31, 2020, 2019 and 2018 52
   
Consolidated Statements of Cash Flows  
for the Years Ended December 31, 2020, 2019 and 2018 53
   
Notes to Consolidated Financial Statements 54
   
Schedules for the years ended December 31, 2020, 2019 and 2018  
II - Valuation and Qualifying Accounts 74
III - Real Estate and Accumulated Depreciation 74
   
   
All other schedules have been omitted because they are not applicable, not required, or the information has been supplied in the consolidated financial statements or notes thereto.

 

 

 

 

 

 

 

 

 

 

46


 
 

 

 

 

 

 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

To the Board of Directors and

Shareholders of Spindletop Oil & Gas Co.

 

Opinion of the Consolidated Financial Statements

We have audited the accompanying consolidated balance sheets of Spindletop Oil & Gas Co. (A Texas Corporation) and subsidiaries as of December 31, 2020 and 2019, and the related consolidated statements of operations, shareholders' equity and cash flows for each of the years in the three-year period ended December 31, 2020, and the related notes and schedules (collectively referred to as the “financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2020 and 2019, and the results of operations and its cash flows for each of the three years in the period ended December 31, 2020, in conformity with accounting principles generally accepted in the United States of America.

Basis of Opinion

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matter

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the consolidated financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of a critical audit matter does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

 

 

47


 
 

 

Impact of estimated proved oil and natural gas reserves related to evaluated oil and natural gas properties on depletion expense and the ceiling test calculation

As discussed in Note 2 to the consolidated financial statements, the Company uses the full-cost method of accounting for oil and natural gas properties and amortizes capitalized costs of oil and natural gas properties using the unit-of-production method based on production and estimates of proved reserves quantities. The Company is required to perform a ceiling test calculation and the applicable ceiling is equal to the sum of (1) the present value, discounted at 10%, of future net revenues of proved oil and natural gas reserves, reduced by the estimated costs of developing these reserves, plus (2) unproved and unevaluated property costs not being amortized, plus (3) the lower of cost or estimated fair value of unproved and unevaluated properties included in the costs being amortized, if any, less (4) any income tax effects related to the properties involved. Any excess of the Company’s net capitalized costs above the cost center ceiling is charged to operations as a full-cost ceiling impairment. Estimates of economically recoverable oil and natural gas reserves depend upon a number of factors and assumptions, including quantities of oil and natural gas that are ultimately recovered, the timing of the recovery of oil and natural gas reserves, the operating costs incurred, the amount of future development expenditures, and the price received for the production. For the year ended December 31, 2020, the Company recorded depletion expense of evaluated oil and natural gas properties of 393,000 and no full-cost ceiling cost impairment was necessary. The Company recorded $26,928,000 and $1,687,000 of gross and net, respectively, evaluated oil and natural gas properties as of December 31, 2020. The Company’s internal reserve engineer prepares the report of the proved oil and natural gas reserves.

We identified the assessment of the impact of estimated proved oil and natural gas reserves related to evaluated oil and natural gas properties on both depletion expense and the ceiling test calculation as a critical audit matter. There is a high degree of subjectivity in evaluating the estimate of proved oil and natural gas reserves, as auditor judgment was required to evaluate the assumptions used by the Company related to determining the value and quantity of future oil and gas reserves.

The following are the primary procedures we performed to address this critical audit matter. We obtained an understanding of the internal controls over the Company’s depletion and ceiling test processes. We evaluated (1) the professional qualifications of the Company’s internal reserve engineer and (2) the knowledge, skill, and ability of the Company’s internal reserve engineer. We assessed the methodology used by the Company to estimate the reserves for consistency with industry and regulatory standards. We tested the current year pricing, production, and expenses used in the preparation of the reserve report. In addition, we performed a retrospective review of the prior year reserve report. We analyzed the depletion expense calculation for compliance with industry and regulatory standards and recalculated it. We also analyzed the ceiling test impairment calculation for compliance with industry and regulatory standards. In addition, we performed an independent calculation of the ceiling test impairment calculation and compared our results with the Company’s results.

Supplemental Information

Our audits were made for the purpose of forming an opinion on the basic consolidated financial statements taken as a whole. The schedules listed in the index of the consolidated financial statements are presented for purposes of complying with the Securities and Exchange Commission's rules and are not part of the basic consolidated financial statements. Spindletop Oil & Gas Co.’s management is responsible for the schedules. These schedules have been subjected to the auditing procedures applied in the audits of the basic consolidated financial statements and, in our opinion, fairly state, in all material respects, the financial data required to be set forth therein in relation to the basic consolidated financial statements taken as a whole.

 

/s/ Farmer, Fuqua, & Huff, P.C.

 

We are uncertain as to the year our predecessor firm began serving as the auditor of the Company’s consolidated financial statements; however, we are aware that we have been the Company’s auditor consecutively since at least 1995.

 

Richardson, Texas

April 15, 2021

48


 
 

 

 

 

SPINDLETOP OIL & GAS Co. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
 
     December 31,      December 31,  
    2020    2019 
ASSETS          
           
Current Assets          
Cash and cash equivalents  $7,480,000   $15,229,000 
Restricted cash   295,000    795,000 
Accounts receivable   2,613,000    3,190,000 
Income tax receivable   274,000    83,000 
Total Current Assets   10,662,000    19,297,000 
           
Property and Equipment - at cost          
Oil and gas properties (full cost method)   26,928,000    26,938,000 
Rental equipment   412,000    412,000 
Gas gathering system   115,000    115,000 
Other property and equipment   315,000    315,000 
    27,770,000    27,780,000 
Accumulated depreciation and amortization   (26,061,000)   (25,664,000)
Total Property and Equipment   1,709,000    2,116,000 
           
Real Estate Property - at cost          
Land   688,000    688,000 
Commercial office building   1,624,000    1,580,000 
Accumulated depreciation   (1,047,000)   (992,000)
Total Real Estate Property   1,265,000    1,276,000 
           
Other Assets          
Deferred Income Tax Asset   205,000    56,000 
Other long-term investments   8,825,000    1,150,000 
Other   4,000    3,000 
Total Other Assets   9,034,000    1,209,000 
Total Assets  $22,670,000   $23,898,000 
           
           
           
The accompanying notes are an integral part of these statements.

 

 

 

49


 
 

 

 

 

 

 

 

 

 

SPINDLETOP OIL & GAS Co. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
 
     December 31,      December 31,  
    2020    2019 
LIABILITIES AND SHAREHOLDERS' EQUITY          
           
Current Liabilities          
Accounts payable and accrued liabilities  $5,714,000   $6,005,000 
Notes payable, Paycheck Protection Program   —      —   
Total Current Liabilities   5,714,000    6,005,000 
           
Noncurrent Liabilities          
Asset retirement obligation   1,434,000    1,408,000 
Total Noncurrent Liabilities   1,434,000    1,408,000 
           
           
Total Liabilities   7,148,000    7,413,000 
           
Shareholders' Equity          
Common stock, $.01 par value, 100,000,000 shares authorized; 7,677,471 shares issued and 6,755,318 and 6,809,602 shares outstanding at December 31, 2020 and at December 31, 2019.   77,000    77,000 
Additional paid-in capital   943,000    943,000 
Treasury stock, at cost   (1,874,000)   (1,806,000)
Retained earnings   16,376,000    17,271,000 
Total Shareholders' Equity   15,522,000    16,485,000 
Total Liabilities and Shareholders' Equity  $22,670,000   $23,898,000 
           
           
           
           
           
           
The accompanying notes are an integral part of these statements.

 

 

 

 

 

50


 
 

 

 

 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
 
   Years Ended December 31,
   2020  2019  2018
Revenues         
Oil and gas revenues  $2,924,000   $4,631,000   $5,848,000 
Revenue from lease operations   233,000    315,000    258,000 
Gas gathering, compression, equipment rental   89,000    125,000    136,000 
Real estate rental income   272,000    248,000    232,000 
Interest Income   216,000    193,000    181,000 
Debt forgiveness income   403,000    —      —   
Other   42,000    75,000    79,000 
Total Revenues   4,179,000    5,587,000    6,734,000 
                
Expenses               
Lease operations   1,324,000    1,754,000    1,656,000 
Production taxes, gathering and marketing   675,000    828,000    835,000 
Pipeline and rental operations   9,000    32,000    49,000 
Real estate operations   174,000    179,000    196,000 
Depreciation and  amortization   452,000    456,000    499,000 
ARO accretion expense   139,000    120,000    189,000 
General and administrative   2,640,000    2,967,000    2,943,000 
Total Expenses   5,413,000    6,336,000    6,367,000 
Income (Loss) Before Income Tax   (1,234,000)   (749,000)   367,000 
                
Current income tax provision (benefit)   (191,000)   39,000    224,000 
Deferred income tax provision (benefit)   (149,000)   (142,000)   (121,000)
Total income tax provision (benefit)   (340,000)   (103,000)   103,000 
Net Income (Loss)  $(894,000)  $(646,000)  $264,000 
                
Earnings (Loss) per Share of Common Stock               
Basic and Diluted  $(0.13)  $(0.09)  $0.04 
                
Weighted Average Shares Outstanding               
Basic and Diluted   6,771,094    6,809,602    6,925,511 
                
The accompanying notes are an integral part of these statements.

 

 

 

 

 

 

51


 
 

 

 

 

 

 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDER'S EQUITY
For the Years Ended December 31, 2020, 2018, and 2018
 
    
    Common
Stock
Shares
    Common
Stock
Amount
    Additional
Paid-In
Capital
    Treasury
Stock
Shares
    Treasury
Stock
Amount
    Retained
Earnings
 
Balance December 31, 2017   7,677,471   $77,000   $943,000    741,202   ($1,536,000)  $17,653,000 
                               
Purchase of 126,667 shares of
Common Stock as Treasury Stock
   —      —      —      126,667    (270,000)   —   
                               
Net Income   —      —      —      —      —      264,000 
Balance December 31, 2018   7,677,471    77,000    943,000    867,869    (1,806,000)   17,917,000 
                               
Net (Loss)   —      —      —      —      —      (646,000)
Balance December 31, 2019   7,677,471    77,000    943,000    867,869    (1,806,000)   17,271,000 
                               
Purchase of 54,284 shares of
Common Stock as Treasury Stock
   —      —      —      54,284    (68,000)   —   
                               
    —      —      —      —      —      (894,000)
Balance December 31, 2020   7,677,471   $77,000   $943,000    922,153   ($1,874,000)  $16,376,000 
                               
                               
The accompanying notes are an integral part of these statements.

 

 

 

 

 

 

 

52


 
 

  

 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
    
   Twelve Months Ended
   December 31,  December 31,  December 31,
   2020  2019  2018
Cash Flows from Operating Activities               
Net (Loss)  $(894,000)  $(646,000)  $264,000 
Reconciliation of net (Loss) to net cash               
provided by operating activities               
Depreciation and amortization   452,000    456,000    499,000 
Accretion of asset retirement obligation   139,000    120,000    189,000 
Changes in accounts receivable   577,000    (325,000)   (16,000)
Changes in income tax receivable   (191,000)   152,000    24,000 
Changes in accounts payable and accrued liabilities   (291,000)   148,000    249,000 
Forgiveness of SBA Paycheck Protection Loan   (403,000)   —      —   
Changes in deferred Income tax asset   (149,000)   (56,000)   —   
Changes in deferred Income tax payable   —      (86,000)   (121,000)
Changes in other assets   (1,000)   6,000    —   
Net cash (used) for operating activities   (761,000)   (231,000)   1,088,000 
                
Cash Flows from Investing Activities               
Capitalized acquisition, exploration and development   (104,000)   (251,000)   (320,000)
Purchase of other property and equipment   —      (19,000)   —   
Changes in Other long-term investments   (7,675,000)   1,208,000    308,000 
Proceeds from sale of oil and gas properties   —      918,000    1,523,000 
Capitalized tenant improvements and broker fees   (44,000)   —      —   
Net cash provided (used) for investing activities   (7,823,000)   1,856,000    1,511,000 
                
Cash Flows from Financing Activities               
Purchase of treasury stock   (68,000)   —      (270,000)
Proceeds from SBA Paycheck Protection Loan program   403,000           
Net cash used for financing activities   335,000    —      (270,000)
Increase (Decrease) in cash, cash equivalents, and restricted cash   (8,249,000)   1,625,000    2,329,000 
                
Cash, cash equivalents, and restricted cash at beginning of period   16,024,000    14,399,000    12,070,000 
Cash, cash equivalents, and restricted cash at end of period  $7,775,000   $16,024,000   $14,399,000 
                
The accompanying notes are an integral part of these statements.

 

 

 

 

 

53


 
 

 

  

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

 

 

 

1. BASIS OF PRESENTATION AND ORGANIZATION

 

Merger and Basis of Presentation

 

On July 13, 1990, Prairie States Energy Co., a Texas corporation, (the Company) merged with Spindletop Oil & Gas Co., a Utah corporation (the Acquired Company). The name of Prairie States Energy Co. was changed to Spindletop Oil & Gas Co., a Texas corporation at the time of the merger.

 

Organization and Nature of Operations

 

The Company was organized as a Texas corporation in September 1985, in connection with the Plan of Reorganization ("the Plan"), effective September 9, 1985, of Prairie States Exploration, Inc., ("Exploration"), a Colorado corporation, which had previously filed for Chapter 11 bankruptcy. In connection with the Plan, Exploration was merged into the Company, with the Company being the surviving corporation.

 

Spindletop Oil & Gas Co. is engaged in the exploration, development and production of oil and natural gas; and through one of its subsidiaries, the gathering and marketing of natural gas.

 

The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters. The Company leases the remaining space in the building to non-related third-party commercial tenants at prevailing market rates.

 

 

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements follows:

 

Consolidation

 

The consolidated financial statements include the accounts of Spindletop Oil & Gas Co. and its wholly owned subsidiaries, Prairie Pipeline Co. and Spindletop Drilling Company. All significant inter-company transactions and accounts have been eliminated.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid instruments with a maturity of three months or less at time of original issuance to be cash equivalents.

 

Other Investments

 

Other short-term and long-term investments consist of certificates of deposit with maturities of more than three months. Carrying amounts approximate fair value.

 

 

Allowance for Doubtful Accounts

 

The Company provides an allowance for doubtful accounts equal to the estimated uncollectible portion of accounts receivable. This estimate is based on historical collection experience and a review of the current status of accounts receivable.

 

54


 
 

 

Oil and Gas Properties

 

The Company follows the full cost method of accounting for its oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and natural gas reserves are capitalized and accounted for in cost centers, on a country-by-country basis. For each cost center, capitalized costs, less accumulated amortization and related deferred income taxes, shall not exceed an amount (the cost center ceiling) equal to the sum of:

e)The present value of estimated future net revenues computed by applying current prices of oil and natural gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus
f)The cost of properties not being amortized; plus
g)The lower of cost or estimated fair market value of unproven properties included in the costs being amortized; less
h)Income tax effects related to differences between the book and tax basis of the properties.

 

If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling (as defined), the excess is charged to expense and separately disclosed during the period in which the excess occurs. Amounts required to be written off will not be reinstated for any subsequent increase in the cost center ceiling.

 

Depreciation and amortization for each cost center are computed on a composite unit-of-production method, based on estimated proven reserves attributable to the respective cost center. All costs associated with oil and gas properties are currently included in the base for computation and amortization. Such costs include all acquisition, exploration, development costs and estimated future expenditures for proved undeveloped properties as well as estimated dismantlement and abandonment costs as calculated under the asset retirement obligation category, net of salvage value. All of the Company's oil and gas properties are located within the continental United States.

 

Gains and losses on sales of oil and gas properties are treated as adjustments of capitalized costs. Gains or losses on sales of property and equipment, other than oil and gas properties, are recognized as part of operations. Expenditures for renewals and improvements are capitalized, while expenditures for maintenance and repairs are charged to operations as incurred.

 

Property and Equipment

 

The Company, as operator, leases equipment to owners of oil and gas wells, on a month-to-month basis.

 

The Company, as operator, transports natural gas through its natural gas gathering systems, in exchange for a fee.

 

Depreciation is provided in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives (5 to 10 years for rental equipment and natural gas gathering systems, 4 to 5 years for other property and equipment). The straight-line method of depreciation is used for financial reporting purposes, while accelerated methods are used for tax purposes.

 

Real Estate Property

 

The Company owns land along with a two-story commercial office building which is situated thereon. The Company occupies a portion of the building as its primary corporate headquarters and leases the remaining space in the building to non-related third-party commercial tenants at prevailing market rates. The Company depreciates the commercial office building using the straight-line method of depreciation for financial statement and income tax purposes.

 

 

55


 
 

 

 

Investments in Real Estate

 

All investments in real estate holdings are stated at cost or adjusted carrying value. ASC Topic 360, “Accounting for the Impairment or Disposal of Long-Lived Assets”, requires that a property be considered impaired if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the property. If impairment exists, an impairment loss is recognized by a charge against earnings equal to the amount by which the carrying amount of the property exceeds fair market value less cost to sell the property. If impairment of a property is recognized, the carrying amount of the property is reduced by the amount of the impairment, and a new cost for the property is established. Depreciation is provided over the properties estimated remaining useful life. There was no charge to earnings during 2020, 2019, or 2018 due to impairment of real estate holdings.

 

Accounting for Asset Retirement Obligations

 

The Company adopted ASC Topic 410-20, "Accounting for Asset Retirement Obligations" on December 31, 2005. This statement requires the recording of a liability in the period in which an asset retirement obligation ("ARO") is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter, each quarter, this liability is accreted up to the final retirement cost. The determination of the ARO is based on an estimate of the future cost to plug and abandon our oil and gas wells. The actual costs could be higher or lower than current estimates.

 

The following table reflects the changes of the asset retirement obligations during the period ending December 31;

   2020  2019
Carrying amount of asset retirement obligation  $1,408,000   $1,324,000 
Liabilities added   32,000    110,000 
Liabilities divested or settled   (145,000)   (146,000)
Current period accretion expenses   139,000    120,000 
Carrying amount as of December 31,  $1,434,000   $1,408,000 

  

 

Revenue Recognition

 

The Company follows the “sales” (takes or cash) method of accounting for oil and natural gas revenues. Under this method, the Company recognizes revenues on oil and natural gas production as it is taken and delivered to the purchasers. The volumes sold may be more or less than the volumes the Company is entitled to take based on our ownership in the property. These differences result in a condition known as a production imbalance. Our crude oil and natural gas imbalances are insignificant.

 

Income Taxes

 

In June, 2006, an interpretation of ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes” was issued. The interpretation creates a single model to address accounting for uncertainty in tax positions. Specifically, the pronouncement prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest, and penalties, accounting in interim periods, disclosure and transition of certain tax positions. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed.

 

The Company accounts for income taxes pursuant to ASC Topic 740-10 "Accounting for Income Taxes”, which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities, using enacted tax rates in effect in the years in which the differences are expected to reverse. The temporary differences primarily relate to depreciation, depletion, and intangible drilling costs.

 

 

56


 
 

Use of Estimates

 

The preparation of financial statements in conformity with U. S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Share-Based Payments

 

Effective January 1, 2006, the Company adopted ASC Topic 718-10, “Share-Based Payment". ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant-date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices, or the amount of share-based compensation recognized in earnings.

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842). The FASB issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The accounting for Lessees relates primarily to finance leases and for operating leases. The Company does not currently have any finance or operating leases as a lessee. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. Under GAAP accounting, lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. The Company does lease space in its commercial office building to third-party tenants under rental lease agreements as the lessor and recognizes lease income from tenants on a straight-line basis. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. The Company does not anticipate that this new guidance will have a material impact on the Company’s consolidated financial position or results of operations for the periods presented.

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which supersedes nearly all existing revenue recognition guidance under existing generally accepted accounting principles.  This new standard is based upon the principal that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.

 

Revenue from Contracts with Customers  

Sales of oil, condensate, natural gas and natural gas liquids (“NGLs”) are recognized at the time control of the products are transferred to the customer. Based upon the Company’s current purchasers’ past experience and expertise in the market, collectability is probable, and there have not been payment issues with the Company’s purchasers over the past year or currently. Generally, the Company’s gas processing and purchase agreements indicate that the processors take control of the gas at the inlet of the plant and that control of residue gas is returned to the Company at the outlet of the plant. The midstream processing entity gathers and processes the natural gas and remits proceeds to the Company for the resulting sales of NGLs. The Company delivers oil and condensate to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product. 

 

 

57


 
 

When sales volumes exceed the Company’s entitled share, a production imbalance occurs. If production imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. Production imbalances have not had and currently do not have a material impact on the financial statements, and this did not change with the adoption of ASC 606.

 

Generally, the Company’s contracts have an initial term of one year or longer but continue month to month unless written notification of termination in a specified time period is provided by either party to the contract. The Company has used the practical expedient in ASC 606 which states that the Company is not required to disclose that transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligation is not required.

 

Contract Balances  

The Company receives purchaser statements from the majority of its customers but there are a few contracts where the Company prepares the invoice. Payment is unconditional upon receipt of the statement or invoice. Accordingly, the Company’s product sales contracts do not give rise to contract assets or liabilities under ASC 606. The majority of the Company’s contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, whether a well delivers to a gathering or transmission line, quality of the oil or natural gas, and supply and demand conditions. The price of these commodities fluctuates to remain competitive with supply.

 

Prior Period Performance Obligations

The Company records revenue in the month production is delivered to the purchaser. Settlement statements may not be received for 30 to 90 days after the date production is delivered, and therefore the Company is required to estimate the amount of production delivered to the purchaser and the price that will be received for the sale of the product. Differences between the Company’s estimates and the actual amounts received for product sales are generally recorded in the following month that payment is received. Any differences between the Company’s revenue estimates and actual revenue received historically have not been significant. The Company has internal controls in place for its revenue estimation accrual process.

 

Impact of Adoption of ASC 606

The Company has completed its review of its primary oil and natural gas marketing agreements in order to assess the impact of adoption, and it has assessed that adoption of this standard will not have a material impact on the Company's financial statements because revenue will continue to be recognized as production is delivered.  The Company adopted this standard in the first quarter of 2018 utilizing the modified retrospective method.

 

 

In August 2016, the FASB issued Accounting Standards Update No 2016-15: Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The FASB issued this Accounting Standards Update to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.

 

Currently, there are no other new accounting pronouncements that were issued to be effective in 2020 or subsequent thereto that would have a material impact on the Company’s financial reporting.

 

 

58


 
 

 

Subsequent Events

 

The Company has evaluated subsequent events through the issuance date of April 15, 2021.

 

Subsequent to year-end, the Company applied for and was granted a loan in the amount of $402,573 pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted March 27, 2020.

 

On March 18, 2021, the loan (the “Loan”) was funded and matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing after the loan forgiveness determination has been made by the Small Business Administration. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.

 

The PPP provides that loan principal and accrued interest may be forgiven after a twenty-four-week period if the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.

 

The Company believes it will use the loan proceeds from the loan for purposes consistent with the PPP. While the Company currently believes that its use of the loan proceeds should meet the conditions for forgiveness of at least a portion of the loan, we cannot assure you that the Company will be eligible for forgiveness of the loan, in whole or in part.

 

 

3. ACCOUNTS RECEIVABLE

 

 

   December 31,
   2020  2019
       
Trade  $99,000   $129,000 
Accrued receivable   2,529,000    2,826,000 
Qualified Intermediary   —      250,000 
    2,628,000    3,205,000 
Less: Allowance for losses   (15,000)   (15,000)
   $2,613,000   $3,190,000 

 

 

 

Receivable from Qualified Intermediary is funds on deposit related to sale proceeds for which the Company is pursuing treatment under IRC Section 1031- Like Kind Exchange. These funds are released as the 180-day replacement period expires.

 

Accrued receivables are receivables from purchasers of oil and gas. These revenues are booked from check stub detail after receipt of the check for sales of oil and natural gas products. These payments are for sales of oil and natural gas produced in the reporting period, but for which payment has not yet been received until after the closing date of the reporting period. Therefore, these sales are accrued as receivables as of the balance sheet date. Revenues for oil and natural gas production that has been sold but for which payment has not yet been received is accrued in the period sold.

 

 

59


 
 

 

 

4. ACCOUNTS PAYABLE

 

 

 

   December 31,
   2020  2019
       
Trade payables  $2,427,000   $2,271,000 
Production proceeds payable   2,914,000    3,341,000 
Prepaid drilling costs   373,000    393,000 
   $5,714,000   $6,005,000 

 

 

 

5. NOTES PAYABLE

 

On May 1, 2020, the Company was granted a loan (the “Loan”) in the amount of $402,573 pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted March 27, 2020.

 

The Loan, which is in the form of a note dated April 9, 2020 issued by the Company, matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing on November 9, 2020. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.

 

The PPP provides that loan principal and accrued interest may be forgiven after either an eight-week period or a twenty-four-week period as long as the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.

 

Effective December 9, 2020, the Company received notice from its bank that the Small Business Administration has authorized full forgiveness of the Company’s Paycheck Protection Program loan in the amount of $402,573. The amount of the loan which was fully forgiven is recorded as debt forgiveness income on the Company’s Consolidated Statements of Operations for the year ended December 31, 2020.

 

 

6. RELATED PARTY TRANSACTIONS

 

On October 1, 2008, Giant entered into an Administrative Services Agreement with the Company whereby Giant pays the Company $250 per month for the Company providing administrative services to Giant. On October 1, 2008, the Company entered into a similar agreement with Giant NRG, LP (“NRG”) a limited partnership with Chris Mazzini and Michelle Mazzini as limited partners. Under this agreement NRG pays a monthly fee of $1,500 to the Company in exchange for the Company providing certain administrative services to NRG. The Company has entered into a similar arrangement with Peveler Pipeline, LP ("Peveler"), whereby Peveler pays the Company a monthly charge of $250 in exchange for the Company providing administrative services to Peveler. Chris and Michelle Mazzini are the owners of Peveler Pipeline, LP, a limited partnership which owns a pipeline gathering system servicing wells owned by Giant, another related entity, described elsewhere in this report. The Company entered into a similar agreement with M-R Ventures, LLC (“MRV”) a limited liability company that operates some wells in Michigan, and that is owned by Chris and Michelle Mazzini. Pursuant to this agreement, MRV pays the Company a monthly fee in the amount of $500 for certain administrative services that the Company provides to MRV. The Company entered into a similar agreement with Reserve Royalty Company (“Reserve”) a sole proprietorship that holds some royalty interests owned by Chris and Michelle Mazzini. Pursuant to this agreement, Reserve pays the Company a monthly fee in the amount of $350 for certain administrative services that the Company provides to Reserve.

 

 

60


 
 

 

7. COMMON STOCK

 

Effective January 1, 2006, the Company adopted ASC Topic 718-10, "Share-Based Payment". ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices, or the amount of share-based compensation recognized in earnings.

 

During the three-year period ending December 31, 2020, the Company did not issue any compensation related to share-based payments.

 

The Company has not approved nor authorized any standing repurchase program for its common stock.

 

During the three-year period ending December 31, 2020, the Company made the following repurchase of its common stock:

 

Effective December 6, 2018, the Company repurchased 126,667 shares of its common stock as a one-time transaction for a purchase price of $269,801 or $2.13 per share.

 

Effective April 6, 2020, and June 20, 2020, the Company repurchased 45,036 shares and 9,248 shares of its common stock from a non-controlling, unaffiliated shareholder of the Company for a negotiated purchase price of $56,295 and $11,560 respectively, or $1.25 per share. The repurchased shares are held as Treasury Stock.

 

The repurchased shares are held as Treasury Stock.

 

8. INCOME TAXES

 

The Company accounts for income taxes pursuant to ASC Topic 740-10, "Accounting for Income Taxes". ASC Topic 740-10 utilizes the liability method of computing deferred income taxes.

 

Income tax differed from the amounts computed by applying an effective United States federal income tax rate of 21% to pretax income in 2020, 2019, and 2018.

Deferred income taxes reflect the effects of temporary differences between the tax bases of assets and liabilities and the reported amounts of those assets and liabilities for financial reporting purposes. Deferred income taxes also reflect the value of investment tax credits and an offsetting valuation allowance. The Company's total deferred tax assets and corresponding valuation allowance at December 31, 2020 and 2019 consisted of the following:

 

   2020  2019  2018
Computed expected tax expense (benefit)  $(259,000)  $(157,000)  $77,000 
                
Miscellaneous timing differences               
related to book and tax depletion differences               
and the expensing of intangible drilling costs.   68,000    (9,000)   (233,000)
Gain on sale of oil and gas properties'   —      193,000    303,000 
Correction of prior year estimate   —      12,000    77,000 
Expected Federal income tax expense (benefit)  $(191,000)  $39,000   $224,000 
                
Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018
                
                
    2020    2019    2018 
Federal income taxes (benefit)  $(191,000)  $39,000   $224,000 
State income taxes   —      —      —   
Current income tax provision (benefit)  $(191,000)  $39,000   $224,000 

  

61


 
 
   December 31,
   2020  2019
Deferred tax assets          
Depletion and amortization   105,000    152,000 
Expired leasehold   153,000    145,000 
Other, net   4,000    4,000 
Depreciation   52,000    47,000 
Total deferred tax assets   314,000    348,000 
           
Deferred tax liabilities          
Intangible drilling costs   (109,000)   (292,000)
Total deferred tax liability   (109,000)   (292,000)
Net deferred income tax asset (payable)  $205,000   $56,000 

 

 

On December 22, 2017, the U.S. Congress enacted the Tax Cuts and Jobs Act (the “Act”) which made significant changes to U.S. federal income tax law, including lowering the federal statutory corporate income tax rate to 21% beginning January 1, 2018. The income tax effects of changes in tax laws are recognized in the period when enacted.

 

The Company's estimate does not reflect effects of any state tax law changes and uncertainties regarding interpretations that may arise as a result of federal tax reform. 

 

9. CASH FLOW INFORMATION

 

The Company does not consider any of its assets, other than cash and certificates of deposit shown as cash on the balance sheet, to meet the definition of a cash equivalent.

 

Net cash provided by operating activities includes cash payments for the following:

 

 

   2020  2019  2018
          
Income taxes  $—     $60,000   $200,000 
Insurance proceeds        —      —   
Accounts Payable        —      —   

 

 

Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows:

 

   2020  2019  2018
Addition (Reduction) of oil & gas               
properties by recognitions of               
asset retirement obligation  $(113,000)  $(36,000)  $(45,000)
   $(113,000)  $(36,000)  $(45,000)

 

 

   2020  2019  2018
Proceeds from sales of oil and gas properties  $—     $1,168,000   $965,000 
Less:               
Capital acquisition under IRC Section 1031   —      —      (21,000)
Qualified Intermediary accounts receivable   —      (250,000)   579,000 
   $—     $918,000   $1,523,000 

  

62


 
 

 

 

10. EARNINGS PER SHARE

 

Earnings per share ("EPS") are calculated in accordance with ASC Topic 260-10, "Earnings per Share", which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. The adoption of ASC Topic 260-10 had no effect on previously reported EPS. Diluted EPS is computed based on the weighted number of shares outstanding, plus the additional common shares that would have been issued had the options outstanding been exercised.

 

 

11. CONCENTRATIONS OF CREDIT RISK

 

Deposits held in non-interest-bearing transaction accounts at the same institution are now aggregated with any interest-bearing deposits the owner may hold in the same ownership category, and the combined total insured up to at least $250,000.

 

As of December 31, 2020, the Company had approximately $3,263,000 in checking and money market accounts at one bank, $1,474,000 at a second bank, $1,786,000 and $378,000 invested at two other banks. The Company also had approximately $8,825,000 of long-term certificates of deposit invested at these banks. Cash amounts on deposit at these institutions exceeded current per account FDIC protection limits by approximately $2,325,000.

 

Most of the Company's business activity is located in Texas. Accounts receivable as of December 31, 2020 and 2019 are due from both individual and institutional owners of joint interests in oil and gas wells as well as purchasers of oil and natural gas. A portion of the Company's ability to collect these receivables is dependent upon revenues generated from sales of oil and natural gas produced by the related wells.

 

 

12. FINANCIAL INSTRUMENTS

 

The estimated fair value of the Company's financial instruments at December 31, 2020 and 2019 follows:

 

   2020  2019
   Carrying
Amount
  Fair
Value
  Carrying
Amount
  Fair
Value
Cash  $7,480,000   $7,480,000   $15,229,000   $15,229,000 
Restricted cash   295,000    292,000    795,000    795,000 
Long-term investments   8,825,000    8,825,000    1,150,000    1,150,000 
Accounts receivable   2,613,000    2,613,000    3,190,000    3,190,000 

 

 

 

The fair value amounts for each of the financial instruments listed above approximate carrying amounts due to the short maturities of these instruments.

 

63


 
 

 

13. COMMITMENTS AND CONTINGENCIES

 

The Company's oil and gas exploration and production activities are subject to Federal, State and environmental quality and pollution control laws and regulations. Such regulations restrict emission and discharge of wastes from wells, may require permits for the drilling of wells, prescribe the spacing of wells and rate of production, and require prevention and clean-up of pollution.

 

Although the Company has not in the past incurred substantial costs in complying with such laws and regulations, future environmental restrictions or requirements may materially increase the Company's capital expenditures, reduce earnings, and delay or prohibit certain activities.

 

At December 31, 2020 the Company has acquired bonds and letters of credit issued in favor of various state regulatory agencies as mandated by state law in order to comply with financial assurance regulations required to perform oil and gas operations within the various state jurisdictions.

 

The Company has seven $5,000 single-well bonds totaling $35,000 and one $10,000 single well bond with an insurance company, for wells the Company operates in Alabama.  The $5,000 bonds are written for a three-year period and have expiration dates of August 1, 2022.   The $10,000 bond is written for a one-year period and expired February 16, 2021.  Subsequent to year-end, this bond has been extended through February 16, 2022.

 

The Company has seven letters of credit from a bank issued for the benefit of various state regulatory agencies in Texas, New Mexico, Oklahoma, and Louisiana, ranging in amounts from $25,000 to $100,000 and totaling $295,000.  These letters of credit are fully secured by funds on deposit with the bank in business money market accounts and automatically extend for a period of one year unless cancelled by the beneficiary. 

 

The Company also has three letters of credit secured with four certificates of deposit at a second bank totaling $425,000.  The letters of credit have expiration dates ranging from November 30, 2021 to August 15, 2024.

 

64


 
 

  

14. ADDITIONAL OPERATIONS AND BALANCE SHEET INFORMATION

 

Certain information about the Company's operations for the years ended December 31, 2020, 2019 and 2018 follows.

Dependence on Customers

 

The following is a summary of a partial list of purchasers / operators (listed by percent of total oil and natural gas sales) from oil and natural gas produced by the Company for the three-year period ended December 31, 2020:

 

Purchaser / Operator  2020  2019  2018
Sunoco Partners Marketing   20%   21%   18%
Enlink Gas Marketing, LTD.   12%   8%   10%
Targa Midstream Services, LLC   11%   8%   9%
Bedrock Production LLC   10%   8%   0%
Hunt Crude Oil Supply   6%   3%   0%
Barnett Gathering, LP   5%   5%   4%
Peveler Pipeline, LP   4%   3%   0%
Phillips 66   3%   3%   1%
Pruet Production Co.   3%   3%   3%
Eastex Crude Company   3%   5%   3%
ETC Texas Pipeline, LTD   2%   2%   4%
Midcoast Energy Partners LP   2%   2%   3%
FDL Operating LLC   2%   1%   1%
Oasis Transportation & Marketing Group   1%   0%   0%
ACE Gathering, Inc.   1%   4%   4%
Empire Pipeline Corp.   1%   1%   1%
Land and Natural Resource Develomeent   1%   1%   2%
OXY USA, Inc.   1%   1%   1%
Eagle Ridge Operating, Inc   1%   0%   0%
Valero Energy Corporation   1%   1%   1%
Edinger Engineering Inc.   1%   0%   0%
Webb Energy Resources, Inc.   1%   0%   1%
Lion Oil Trading & Transportation   1%   0%   0%
ETX Energy, LLC formerly New Gulf Resources   1%   6%   5%
Enterprise Crude Oil, LLC   1%   0%   1%
Sandridge Energy, Inc.   0%   1%   1%
XTO Energy, Inc.   0%   1%   1%
Enlink Crude Purchasing, LLC   0%   1%   0%
Shell Trading (US) Company   0%   3%   4%
Range Resources Corporation   0%   1%   1%
Enervest Operating, LLC   0%   0%   10%
Dorado Oil Company   0%   0%   0%
Devon OEI Operating, Inc.   0%   0%   2%
LPC Crude Oil Marketing LLC   0%   0%   2%
BP America Production Company   0%   0%   0%
DCP Midstream, LP   0%   1%   4%
Camino   0%   0%   0%

 

 

Oil and natural gas is sold to approximately 103 different purchasers under market sensitive, short-term contracts computed on a month to month basis.

 

Except as set forth above, there are no other customers of the Company that individually accounted for more than one percent (1%) of the Company's oil and gas revenues during the three years ended

December 31, 2020.

 

The Company currently has no hedged contracts.

65


 
 

Certain revenues, costs and expenses related to the Company's oil and gas operations are as follows:

 

 

 

 

   Year Ended December 31,
   2020  2019  2018
Capitalized costs relating to oil and gas               
producing activities:               
Unproved properties  $1,876,000   $1,876,000   $1,896,000 
Proved properties   25,052,000    25,062,000    25,996,000 
Total capitalized costs   26,928,000    26,938,000    27,892,000 
Accumulated amortization   (25,241,000)   (24,848,000)   (24,454,000)
Total capitalized costs, net  $1,687,000    2,090,000    3,438,000 

 

 

 

   Year Ended December 31,
   2020  2019  2018
Costs incurred in oil and gas property               
acquisitions, exploration and development:               
Acquisition of properties  $22,000   $214,000   $354,000 
Development costs   97,000    72,000    191,000 
Total costs incurred  $119,000   $286,000   $545,000 

 

 

 

   Year Ended December 31,
   2020  2019  2018
Results of operations from producing activities:         
Sales of oil and gas  $2,923,000   $4,631,000   $5,848,000 
                
Production costs   2,000,000    2,582,000    2,491,000 
Amortization of oil and gas properties   393,000    394,000    439,000 
Total production costs   2,393,000    2,976,000    2,930,000 
Total net revenue  $530,000   $1,655,000   $2,918,000 

 

66


 
 

  

 

   Year Ended December 31,
   2020  2019  2018
Sales price per equivalent Mcf  $3.15   $3.97   $5.16 
Production costs per equivalent Mcf  $2.15   $2.21   $2.20 
Amortization per equivalent Mcf  $0.42   $0.34   $0.39 

 

 

   Year Ended December 31,
   2020  2019  2018
Results of operations from gas gathering         
and equipment rental activities:               
Revenue  $89,000   $125,000   $136,000 
Operating expenses   9,000    32,000    49,000 
Depreciation   1,000    2,000    1,000 
Total costs   10,000    34,000    50,000 
Total net revenue  $79,000   $91,000   $86,000 

 

 

 

15. BUSINESS SEGMENTS

 

The Company's three business segments are (1) oil and gas exploration, acquisition, production, and operations, (2) transportation and compression of natural gas, and (3) commercial real estate investment. Management has chosen to organize the Company into the three segments based on the products or services provided. The following is a summary of selected information for these segments for the

three-year period ended December 31, 2020:

 

 

 

 

   Year Ended December 31,
   2020  2019  2018
Revenues: (1)         
Oil and gas exploration, production  $3,157,000   $4,946,000   $6,106,000 
and operations               
Gas gathering, compression and   89,000    125,000    136,000 
equipment rental               
Real estate rental   272,000    248,000    232,000 
   $3,518,000   $5,319,000   $6,474,000 

 

67


 
 

 

 

   Year Ended December 31,  
  2020 2019 2018
Depreciation, depletion, and      
amortization expense:      
Oil and gas exploration, production  $      396,000  $      408,000  $       461,000
and operations      
Impairment of oil and gas assets                   -                      -                      -   
Gas gathering, compression and              1,000              1,000            13,000
equipment rental      
Real estate rental            55,000            47,000            48,000
   $      452,000  $      456,000  $       522,000

 

 

   Year Ended December 31,  
  2020 2019 2018
Income (loss) from operations:      
Oil and gas exploration, production  $      623,000  $    1,836,000  $    2,975,000
and operations      
Gas gathering, compression and            79,000            92,000            86,000
equipment rental      
Real estate rental            43,000            22,000           (11,000)
           745,000       1,950,000        3,050,000
Corporate and other (2)      (1,639,000)      (2,596,000)       (2,786,000)
Consolidated net income (loss)  $     (894,000)  $     (646,000)  $       264,000

 

 

 

  Year Ended December 31,
  2020  2019  2018
Identifiable assets net of DDA:        
Oil and gas exploration, production              
and operations $1,703,000   $2,108,000   $3,449,000 
Gas gathering, compression and              
equipment rental  6,000    8,000    10,000 
Real estate rental  1,265,000    1,276,000    1,323,000 
   2,974,000    3,392,000    4,782,000 
Corporate and other (3)  19,696,000    20,506,000    19,616,000 
Consolidated total assets $22,670,000   $23,898,000   $24,398,000 

 

 

 

Note (1): All reported revenues are from external customers.

 

Note (2): Corporate and other includes general and administrative expenses, other non-operating income and expense and income taxes.

 

Note (3): Corporate and other includes cash, accounts and notes receivable, inventory, other property and equipment and intangible assets.

 

68


 
 

 

16. SUPPLEMENTARY INCOME STATEMENT INFORMATION

 

The following items were charged directly to expense:

 

 

 

   Year Ended December 31,
   2020  2019  2018
Maintenance and repairs  $6,000   $29,000   $47,000 
Production taxes   116,000    203,000    242,000 
Taxes, other than payroll and income taxes   16,000    18,000    8,000 

 

  

 

 

17. QUARTERLY DATA (UNAUDITED)

 

The table below reflects selected quarterly information for the years ended December 31, 2020, 2019 and 2018.

 

 

   Year Ended December 31, 2020
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $964,000   $548,000   $1,135,000   $1,532,000 
Expense   (1,320,000)   (1,055,000)   (1,006,000)  (2,032,000)
Operating income (loss)   (356,000)   (507,000)   129,000   (500,000)
Current tax (provision) benefit   61,000    113,000    (43,000)  60,000 
Deferred tax (provision) benefit   23,000    (28,000)   17,000   137,000 
Net income (loss)  $(272,000)  $(422,000)  $103,000   $(303,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $(0.04)  $(0.06)  $0.02   $(0.05)

 

 

69


 
 

 

 

 

   Year Ended December 31, 2019
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $1,395,000   $1,487,000   $1,340,000   $1,365,000 
Expense   (1,441,000)   (1,714,000)   (1,566,000)   (1,615,000)
Operating income (loss)   (46,000)   (227,000)   (226,000)   (250,000)
Current tax (provision) benefit   (4,000)   24,000    (58,000)   (1,000)
Deferred tax (provision) benefit   71,000    80,000    98,000    (107,000)
Net income (loss)  $21,000   $(123,000)  $(186,000)  $(358,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $—     $(0.02)  $(0.03)  $(0.04)

 

 

 

 

 

   Year Ended December 31, 2018
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $1,631,000   $2,063,000   $1,479,000   $1,561,000 
Expense   (1,381,000)   (1,574,000)   (1,304,000)   (2,108,000)
Operating income (loss)   250,000    489,000    175,000    (547,000)
Current tax (provision) benefit   (66,000)   (17,000)   (98,000)   (43,000)
Deferred tax (provision) benefit   121,000    230,000    (172,000)   (58,000)
Net income (loss)  $305,000   $702,000   $(95,000)  $(648,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $0.04   $0.10   $(0.01)  $(0.09)

 

 

 

70


 
 

 

18. SUPPLEMENTAL RESERVE INFORMATION (UNAUDITED)

 

The Company’s net proved oil and natural gas reserves as of December 31, 2020, 2019, and 2018, have been estimated by Company personnel.

 

All estimates are in accordance generally accepted petroleum engineering and evaluation principles and definitions and with guidelines established by the Securities and Exchange Commission. All of the Company’s reserves are located in the United States of America and accounted for under one cost center.

 

Our policies and practices regarding internal control over the estimating of reserves are structured to objectively and accurately estimate our oil and natural gas reserve quantities, and present values in compliance with the U.S. Securities and Exchange Commission (“SEC”) regulations and accounting principles generally accepted in the United States of America. We maintain an internal staff of petroleum engineers and geosciences professionals who work closely with the accounting and financial departments to ensure the integrity, accuracy and timeliness of data used in the estimation process. The data used in our reserve estimation process is based on historical results for production, oil and natural gas prices received, lease operating expenses and development costs incurred, ownership interest and other required data. Historical oil and natural gas prices, lease operating expenses, and ownership interests are provided by and verified by the Company’s accounting department.

 

The Petroleum Engineer responsible for the supervision and preparation of the Company’s internally generated reserve report has a Bachelor of Science degree in Petroleum Engineering from a major university and has experience in preparing economic evaluations and reserve estimates. He meets the requirements regarding qualifications, objectivity and confidentiality set forth in the Standards Pertaining to the Engineering and Auditing of Oil and Gas Reserves Information promulgated by the Society of Petroleum Engineers.

 

The Company has established a written internal control procedure to verify that the data entered into our engineering evaluation software is complete and correct. These internal control procedures establish the source of the data both internally and externally, the personnel that will collect the data and testing of the data collected to ensure its accuracy.

 

The following reserve estimates were based on existing economic and operating conditions. Oil and natural gas prices for 2020, 2019, and 2018 were calculated using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of each year. Operating costs, production and ad valorem taxes and future development costs were based on current costs with no escalation.

 

There are numerous uncertainties inherent in estimating quantities of proved reserves and in projecting the future rates of production and timing of development expenditures. The following reserve data represents estimates only and should not be construed as being exact. Moreover, the present values should not be construed as the current market value of the Company's oil and natural gas reserves or the costs that would be incurred to obtain equivalent reserves.

 

 

71


 
 

 

 

Changes in Estimated Quantities of Proved Oil and Gas Reserves (Unaudited):

 

 

 

Quantities of Proved Reserves:  Crude Oil
Bbls
  Natural Gas
Mcf
Balance December 31, 2017   308,940    7,173,430 
Sales of reserves in place   —      —   
Acquired properties   1,100    3,020 
Extensions and discoveries   230    325,070 
Revisions of previous estimates *   (5,634)   222,642 
Production   (43,136)   (874,812)
Balance December 31, 2018   261,500    6,849,350 
Sales of reserves in place   (60)   (27,530)
Acquired properties   780    6,970 
Extensions and discoveries   —      121,400 
Revisions of previous estimates *   8,446    (1,514,053)
Production   (41,919)   (916,456)
Balance December 31, 2019   228,747    4,519,681 
Sales of reserves in place   —      —   
Acquired properties   2,861    17,341 
Extensions and discoveries   —      —   
Revisions of previous estimates *   (56,008)   (880,867)
Production   (30,900)   (743,465)
Balance December 31, 2020   144,700    2,912,690 
           
*  May also include divestitures, not only changes in engineering.          
           
Proved Developed Reserves:          
Balance December 31, 2018   261,500    6,849,350 
Balance December 31, 2019   228,747    4,519,681 
Balance December 31, 2020   144,700    2,912,690 

 

 

 

Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves (Unaudited)

 

The Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves ("Standardized Measures") does not purport to present the fair market value of a company's oil and gas properties. An estimate of such value should consider, among other factors, anticipated future prices of oil and natural gas, the probability of recoveries in excess of existing proved reserves, the value of probable reserves and acreage prospects, and perhaps different discount rates. It should be noted that estimates of reserve quantities, especially from new discoveries, are inherently imprecise and subject to substantial revision.

 

72


 
 

Reserve estimates were prepared in accordance with standard Security and Exchange Commission guidelines. The future net cash flow for 2020, 2019, and 2018, was computed using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of the year. Lease operating costs, compression, dehydration, transportation, ad valorem taxes, severance taxes, and federal income taxes were deducted. Costs and prices were held constant and were not escalated over the life of the properties. No deduction has been made for interest. The annual discount of estimated future cash flows is defined, for use herein, as future cash flows discounted at 10% per year, over the expected period of realization.

 

Proved Developed Reserves were calculated based on Decline Curve Analysis on 29 operated wells and 41 non-operated wells. Materially insignificant operated and non-operated wells were excluded from the reserve estimate.

 

The Company emphasizes that reserve estimates are inherently imprecise. Accordingly, the estimates are expected to change as more current information becomes available. It is reasonably possible that, because of changes in market conditions or the inherent imprecision of these reserve estimates, that the estimates of future cash inflows, future gross revenues, the amount of oil and natural gas reserves, the remaining estimated lives of the oil and natural gas properties, or any combination of the above may be increased or reduced in the near term. If reduced, the carrying amount of capitalized oil and gas properties may be reduced materially in the near term.

 

 

   Year Ended December 31,
   2020  2019  2018
Future production revenue  $10,020,000   $22,235,000   $35,572,000 
Future development costs   —      —      —   
Future production costs   (6,284,000)   (9,167,000)   (17,830,000)
Future net cash flow before Federal income taxes   3,736,000    13,068,000    17,742,000 
Future income taxes   (560,000)   (1,960,000)   (2,661,000)
Future net cash flows   3,176,000    11,108,000    15,081,000 
Effect of 10% annual discounting   (609,000)   (5,010,000)   (4,030,000)
Standardized measure of discounted cash flows  $2,567,000   $6,098,000   $11,051,000 

 

 

Changes in the standardized measure of discounted future net cash flows:

 

 

 

   Year Ended December 31,
   2020  2019  2018
Beginning of the year  $6,098,000   $11,051,000   $9,794,000 
Sales of oil and gas, net of production costs   (879,000)   (1,950,000)   (3,194,000)
Net changes in prices and production costs   (963,000)   (3,558,000)   2,171,000 
Extensions, discoveries, additions less related costs   —      17,000    475,000 
Development costs incurred   92,000    68,000    181,000 
Revisions of previous quantity estimates   (963,200)   203,000    284,000 
Net change in purchase and sales of minerals in place   28,664    20,000    33,000 
Accretion of discount   610,000    1,105,000    979,000 
Net change in income taxes   777,000    (276,000)   (103,000)
Other   (2,233,464)   (582,000)   431,000 
End of year  $2,567,000   $6,098,000   $11,051,000 

 

 

 

 

73


 
 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

YEARS ENDED DECEMBER 31, 2020, 2019, AND 2018

 

 

SCHEDULE  I I
 
    Balance    Costs &
Expenses
    Deductions    Ending
Balance
 
Allowance for doubtful accounts                    
                     
December 31, 2020  $15,000   $—     $—     $15,000 
                     
December 31, 2019  $15,000   $—     $—     $15,000 
                     
December 31, 2018  $15,000   $—     $—     $15,000 

 

 

 

 

          SCHEDULE III
           
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION
           
Initial Cost to Corporation Total Cost
Description   Encumbrances Land Buildings Subsequent
to Acquist'n
           
Two story multi-tenant garden office building with sub-grade parking garage located in Dallas, Texas (b)  $    688,000  $ 1,624,000  $       326,000
           
Gross amounts at which carried at close of year    
           
Land Buildings Total Accumulated
Depreciation
Life on which
Depreciation
Calculated
Date
Acquired
           
 $    688,000  $1,624,000  $    2,312,000  $ 1,047,000 (a) 12/27/2004
           
           
           
Notes to Schedule III        
           
(a)  See Footnote 2 to the Financial Statements outlining depreciation methods and lives.
           
(b)  None

 

74


 
 
(c)  The reconciliation for investments in real estate and accumulated  depreciation for the years ended December 31, 2020 are as follows:
    Investments in
Real Estate
    Accumulated
Depreciation
 
Balance, December 31, 2005  $1,986,000   $49,000 
Acquisitions   210,000      
Depreciation expense        71,000 
Balance, December 31, 2006   2,196,000    120,000 
Acquisitions   34,000      
Depreciation expense        84,000 
Balance, December 31, 2007   2,230,000    204,000 
Acquisitions   38,000      
Depreciation expense        96,000 
Balance, December 31, 2008   2,268,000    300,000 
Acquisitions          
Depreciation expense        100,000 
Balance, December 31, 2009   2,268,000    400,000 
Acquisitions          
Depreciation expense        101,000 
Balance, December 31, 2010   2,268,000    501,000 
Acquisitions          
Depreciation expense        100,000 
Balance, December 31, 2011   2,268,000    601,000 
Acquisitions          
Depreciation expense        51,000 
Balance, December 31, 2012   2,268,000    652,000 
Acquisitions          
Depreciation expense        52,000 
Balance, December 31, 2013   2,268,000    704,000 
Acquisitions          
Depreciation expense        52,000 
Balance, December 31, 2014   2,268,000    756,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2015   2,268,000    803,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2016   2,268,000    850,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2017   2,268,000    897,000 
Acquisitions          
Depreciation expense        48,000 
Balance, December 31, 2018   2,268,000    945,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2019   2,268,000    992,000 
Acquisitions   44,000      
Depreciation expense        55,000 
Balance, December 31, 2020   2,312,000    1,047,000 

75


EX-21 2 exhibit_21.htm SPINDLETOP OIL GAS CO. AND SUBSIDIARIES

Exhibit 21

 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

 

 

 

Subsidiaries of the Registrant

 

 

 

Spindletop Drilling Company, incorporated September 5, 1975, under the laws of the State of Texas, is a wholly owned subsidiary of the Registrant.

 

 

Prairie Pipeline Co. incorporated June 22, 1983, under the laws of the State of Texas, is a wholly owned subsidiary of the Registrant.

 

EX-31.1 3 exhibit_31-1.htm RULE 13A-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER

Exhibit 31.1

 

CERTIFICATIONS

 

I, Chris G. Mazzini, certify that:

 

1.       I have reviewed this report on Form 10-K of Spindletop Oil & Gas Co.:

 

2.       Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report:

 

3.       Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.       The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13-15(e) and 15d-15e) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

 

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the controls and procedures as of the end of the period covered by this report based on such evaluation; and

 

(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.       The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's Board of directors (or persons performing the equivalent functions):

 

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls.

 

Date: April 15, 2021

 

 
   
  By:/s/ Chris G. Mazzini
  Chris G. Mazzini
  President, Principal Executive Officer

 

EX-31.2 4 exhibit_31-2.htm RULE 13A-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER

Exhibit 31.2

 

CERTIFICATIONS

 

I, Robert E. Corbin, certify that:

 

1.       I have reviewed this report on Form 10-K of Spindletop Oil & Gas Co.;

 

2.       Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.       Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.       The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13-15(e) and 15d-15e) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) for the registrant and have:

 

(a)designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

(b)designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

(c)evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the controls and procedures as of the end of the period covered by this report based on such evaluation; and

 

(d)disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.       The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's Board of directors (or persons performing the equivalent functions):

 

(a)all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

(b)any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls.

 

Date: April 15, 2021  
   
  By:/s/ Robert E. Corbin
  Robert E. Corbin
 

Principal Financial Officer and

Accounting Manager

 

EX-32 5 exhibit_32.htm OFFICERS' SECTION 1350 CERTIFICATIONS

Exhibit 32

 

Certification Pursuant to 18 U.S.C. Section 1350

As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

 

In connection with the Annual Report of Spindletop Oil & Gas Co. (the “Company”), on Form 10-K for the year ended December 31, 2020 as filed with the Securities Exchange Commission on the date hereof (the “Report”), the undersigned Principal Executive Officer and Principal Financial and Accounting Officer of the Company, do hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 

 

Date: April 15, 2021  
   
  By:/s/ Chris G. Mazzini
  Chris G. Mazzini
  President, Principal Executive Officer
   
   
  By:/s/ Robert E. Corbin
  Robert E. Corbin
  Principal Financial Officer and
  Accounting Manager

 

GRAPHIC 6 image_001.jpg GRAPHIC begin 644 image_001.jpg M_]C_X 02D9)1@ ! 0$ 8 !@ #_VP!# @&!@<&!0@'!P<)"0@*#!0-# L+ M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$ P$! 0$! M 0$! 0 $" P0%!@<("0H+_\0 M1$ @$"! 0#! <%! 0 0)W $" M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,! (1 Q$ /P#T3P;X-\+7 MG@;P_=77AO1Y[B;3;:2666QB9W8Q*2S$KDDDY)-;?_"">#_^A4T/_P %T/\ M\31X$_Y)YX:_[!5K_P"BEKH* .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T M*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z' M_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** M .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$ M\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH? M_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B M:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/! M_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_ M^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P") MKH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ M .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_] M"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA M_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ MA!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T M*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z' M_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** M .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$ M\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH? M_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B M:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/! M_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_ M^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P") MKH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ M .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_] M"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA M_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ MA!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T M*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z' M_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** M .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$ M\'_]"IH?_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH? M_@NA_P#B:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B M:/\ A!/!_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:/\ A!/! M_P#T*FA_^"Z'_P")KH** .?_ .$$\'_]"IH?_@NA_P#B:Q/&7@WPM9^!O$%U M:^&]'@N(=-N9(I8K&)71A$Q#*0N001D$5W=<_P"._P#DGGB7_L%77_HIJ #P M)_R3SPU_V"K7_P!%+705S_@3_DGGAK_L%6O_ **6N@H **** "BBB@ HHHH M\MDDFT[XB)+XAGUFUDDDD-M>P3L]HT9FC6*-D!944J0C;T7+$D-G#5KZE9W- MKK-M':ZSJ%YXAGO5G,<=PZP06GF?,'@W&-4$8*AB-S-R#GIHW'@B.[UI;RXU MG4YK('?]@DD5DSO60#>5\S8&4';NQP!]WY:EL?",NG7=Q/:^)-707%R;F:,I M:L)&)Z%C"7(QA1\V0 ","@#%DCU*PUFZUK6[2[2Q&H!(WCUNX!5"ZQQD6J? MNRA."7Y.=F0O.[&[<.O:N ME'A"U%R<7UX-.-S]J_LP>7Y'F[_,W9V>9]_Y\;\9[8XH7PA9KJ G^V7QLUNC M>KIV]?($Y.[?]W?]XEMN[;NYQ0!T-9&L^)=-T!6?41>K$D1E>6&PGFC1!G)9 MXT95Q@GDCCFM>N?\=_\ )//$O_8*NO\ T4U !_PF6E_\^NN?^"*]_P#C-'_" M9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN? M^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-= M!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF M6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ M ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_" M9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN? M^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-= M!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF M6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ M ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_" M9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN? M^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-= M!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF M6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ M ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_" M9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN? M^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-= M!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF M6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ M ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_" M9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN? M^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-= M!10!S_\ PF6E_P#/KKG_ ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF M6E_\^NN?^"*]_P#C-'_"9:7_ ,^NN?\ @BO?_C-=!10!S_\ PF6E_P#/KKG_ M ((KW_XS1_PF6E_\^NN?^"*]_P#C-=!10!S_ /PF6E_\^NN?^"*]_P#C-'_" M9:7_ ,^NN?\ @BO?_C-=!10!@+XPTQF"BUUO)..="O0/S\JM^BB@ KG_ !W_ M ,D\\2_]@JZ_]%-705S_ ([_ .2>>)?^P5=?^BFH / G_)//#7_8*M?_ $4M M=!7/^!/^2>>&O^P5:_\ HI:Z"@ HHHH **** "BBB@ HHHH **** "N?\=_\ MD\\2_P#8*NO_ $4U=!7/^._^2>>)?^P5=?\ HIJ .@HHHH **** "BBB@ HH MHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** M"BBB@ HHHH **** "BBB@ HHHH **** "N?\=_\ )//$O_8*NO\ T4U=!7/^ M._\ DGGB7_L%77_HIJ #P)_R3SPU_P!@JU_]%+705S_@3_DGGAK_ +!5K_Z* M6N@H **** "BBB@ HHHH S&\1Z*FN+HC:K9C5&7<+0S+YG3/W>N<'..N.>E/ M.NZ.-7_LDZK8C4C_ ,N?VA/.Z;ON9W=.>G3FO.[HCP_XF6ZB?2]:T6>XD=T? M'G0RR7<8^5LLLC)(> 0A 4#)(K>DT^UUE_[(T2V$6FV^I"\O;]LL&G67S&2( MDDL^\89ONJ,J,D%5 .I&L:8=5.E#4;0ZB%WFT$Z^:%QG.S.<8]J!K&F'53I0 MU&T.HA=YM!.OFA<9SLSG&/:O/XQ&/"5MCR?[4/BCGGY_/^UG=[Y\K/\ P#VH MC$8\)6V/)_M0^*.>?G\_[6=WOGRL_P# /:@#TVN?\=_\D\\2_P#8*NO_ $4U M=!7(?$:;5D\%Z\EG964UFVE7/G2S7CQR(/+;.U!$P;CGEER>..M '7T5S_VS MQA_T M#_ /!S-_\ (M'VSQA_T M#_P#!S-_\BT =!17/_;/&'_0"T/\ \',W M_P BT?;/&'_0"T/_ ,',W_R+0!T%%<_]L\8?] +0_P#P)[6:WBGTG0(Y+A_+B5M:ER[8)P/]%]!4_VSQA_T M#_ /!S-_\ (M%QN+23 M:W.@HKG_ +9XP_Z 6A_^#F;_ .1:/MGC#_H!:'_X.9O_ )%H$=!17/\ VSQA M_P! +0__ B!<\D:Q*3 MC_P%K?H *Y_QW_R3SQ+_ -@JZ_\ 135T%<_X[_Y)YXE_[!5U_P"BFH / G_) M//#7_8*M?_12UT%<_P"!/^2>>&O^P5:_^BEKH* "BBB@ HHHH **** ,K_A& MM#_MP:W_ &19?VH 1]K\A?,Z8SNQUP,9ZXXZ5#_PAOA?[7]J_P"$;T?[3O\ M,\[[#%OWYSNSMSG/.:VZ* *0T?3!JIU4:=:#42NPW8@7S2N,8WXSC'O0-'TP M:J=5&G6@U$KL-V(%\TKC&-^,XQ[U=HH *Y_QW_R3SQ+_ -@JZ_\ 135T%<_X M[_Y)YXE_[!5U_P"BFH Z"BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HH MHH **** "BBB@ HHHH ***YC6O'_ (=T/-GT)Z#\2*F4XP M5Y.QM0P];$2Y*,7)^2N=/5>]OK73K5[F\N(X(4&2\C8%>?\ _"3>-?$_RZ!H MZZ;:-TN[OKCU&1C\@U,D^%M[J.VZU7Q'+]+YVNE\V_0T[+XG:+]F>H/:G2?%?PLGW;BYDXS\L!_+G%)I'P]%AJ\=[>WEI?1JC(89+ H[UUD6E:=#CRK"UCQTVPJ,?I44/K4H+VED_O\ U-,1+*83]R,I7[2L MO36-SBF^,'A[<%CM=2E8] L*=?Q>FCXJPRX^S^'M5ER2M_/^'_!,/K.7K;#M^LW^D4>>CXBZU( ;?P-JD@S@GYP!^49H_X3 M+QE*/W/@J5,'_EH[?X"O0J*/95.LW]R#Z]A%\.&C\Y3?ZH\].N_$F7/D^%[% M,'_EI*.G_?P4&X^*$V?]#TJ#OU!_#[QKT*BCV+ZS?]?(/[3@OAP]-?)O\Y'G MOV'XH3Y_XFNE6^>?N@X]O]6:/^$<^(<^?/\ %=LF1SY4??VP@KT*BCZNNK?W ML/[6J+X:=-?]N1_6YXI?:?XF74Y1>OJ]_-:OBWN5LY2JD8.Y,*1]X#GOM%=G MX;^(<-[O0-I>JC VRJ420]L;N5)]#^==Q6-XA\+Z7XFM/)U" &11B.=. M)(_H?3V/%80PLZ,I3IR;OT>QTSS3#XM*GBJ5DMI1W7RLE;JU]VILT5YC'J'B M3X=2+#J:OJV@ [4N4&9(1V!ST^AX]#7H&DZSI^N62W>G7*3PGKMZJ?0CJ#]: MZ:=52=GH^QP8O 5*$54BU.F]I+;T?9^3_$O4445J< 4444 %%%% !1110 44 M44 %%%% !114%Q>6MFNZYN885]9'"_SH$VEN3T5G?VU;R?\ 'K#=71]883M/ M_ FPOZT>?JTW^KLH+=?[UQ-N8?\ 5!'_CU%R>==-31KF-6\!/^2>>&O^P5:_^BEKH*Y_ MP)_R3SPU_P!@JU_]%+704 %%%% !1110 4444 %%*M)?Q.GAZ&X$^H>6\DBQ8980N.'/ M\+'/ Z]_2@#:HK$C\0R7&JS6=KHFHSP0S^1)>HT A5L M]Z4.0,X.%/((&<5 M"GC"R?4/(%I>_9#=&R&H;%\@S@XV?>W_ 'OEW;=N[C- '0US_CO_ ))YXE_[ M!5U_Z*:N@KG_ !W_ ,D\\2_]@JZ_]%-0!T%%%% !1110 4444 %%%% !1110 M 4444 %%%% !1110 444R::*WB:6>5(HU&6=V"@#W)H&DV[(?17%:M\3]"L9 M/L]AYNJ71.%CMERI/IN[_AFLS?\ $+Q3]Q(O#]BW<_ZTC_T+/_?-8/$1O:.K M\OZL>G3RFOR\]>U./>3M]R^)_<=QJFNZ7HL7F:E?06PQD!V^9OHHY/X"N,N/ MB7<:G,UKX5T.YU"4<>=*I6-?<@=OJ5JWI?POT6UE^TZG)/JMV3EGN&.TGUVY MY_$FNT@MX+6%8;>&.&)>%2-0JCZ 4K5I[OE7WO\ R+Y\NP_PQ=67=^['[E[S M^;1YW_PA_BWQ+\WB;7#:VS=;.T]/0XX_/=73Z+X(\/Z%M:UL$>=?^6\_[Q\^ MH)X'X 5T-%5&A"+ON^[U,:^:8FK'V:?+#^6*Y5^&_P VPHHHK8\X**** "BB MB@ HHHH **** "BBB@ HHHH :\:2QM'(BNC##*PR"/0BO/\ 5O =YI%ZVL^# M+@VEUUDLR?WF*]"HK.I3C-:G7A,;6PLFZ;T>Z>J:[-?T^S.-\- M>/[;4[G^R]7A.F:NAVM#+E5<_P"R3T/L?PS795@^)?".E>*+;9>Q;9U&([F/ MAT_'N/8UR$6M>(OA]*EIKR2:GHN=L5]'R\8[ Y_D?P)Q6?M)TM*FJ[_Y_P"9 MW/"T,=[V#]V?6#>_^!O?_"]>USTVBJFFZI9:Q9)>:?1*$H2<9*S04456NM0M++ N+B.-F^ZI;YF^@ZG\*9#:6K+-%2!]GSF/:3AU/"?>/Y"N8\"Z+JD.M3F>*_T^,V[#S3#MW?,ORY= M2/Z\5-];'//$-5%!1O?K_2/4JHRZQIT,AC:[B:4?\LXSO?\ [Y7)IG]AV3\W M"RW1[_:96D!_X"3M_2KT4,4"!(8DC0=%10!^E4;>\_(H_P!ISR_\>NF74@[/ M*!"O_CQW?^.T;=8GZR6=HOHJM,WYG:!^1K1HH#E?5F=_9/F_\?5_>S^WF^4/ MRCV_KFIK?3+&T;?!:0QOW<(-Q^IZFK=% U"*UL%%%%!04444 %%%% !1110 M4444 %<_X[_Y)YXE_P"P5=?^BFKH*Y_QW_R3SQ+_ -@JZ_\ 134 '@3_ ))Y MX:_[!5K_ .BEKH*Y_P "?\D\\-?]@JU_]%+704 %%%% !1110 4444 >5WX> M#Q[')X?M=:WZ* /.KC3K/[=*FG^')K'Q*VI"3[=C8U3_ M *'/7/\ OS9?_(]=!10!S_\ PCVJ?]#GKG_?FR_^1Z/^$>U3_H<]<_[\V7_R M/7044 <__P (]JG_ $.>N?\ ?FR_^1Z/^$>U3_H<]<_[\V7_ ,CUT%% '/\ M_"/:I_T.>N?]^;+_ .1Z/^$>U3_H<]<_[\V7_P CUT%% '/_ /"/:I_T.>N? M]^;+_P"1Z/\ A'M4_P"ASUS_ +\V7_R/7044 <__ ,(]JG_0YZY_WYLO_D>C M_A'M4_Z'/7/^_-E_\CUT%% '/_\ "/:I_P!#GKG_ 'YLO_D>C_A'M4_Z'/7/ M^_-E_P#(]:NH:I8:5!Y]_=PVT?\ >E<+GZ>OX5Q5Y\4(+BX-GX;TNZU:Y[,$ M*H/?&-V/J!]:SG5A#XF=F&P&)Q.M*#:[[)>K=E^)T'_"/:I_T.>N?]^;+_Y' MKE?$>K3Z#>V\"^,=;N0"6NQ%'8LT*=!Q]GZYYP>P/M3O^$?\<^*.=:U9-)M& MZVUK]['H<'^;'Z4D/PH-J)([;64$3L2!+9EVQZ$B09_(5S5ZN(V.]7:U5#F5ZC;\NGW(QJ9I[%N&"@H+NM9/_MZ6JOY)'&Z5\/4T./9 MIOB/5K?C!98+(L?JQMR3^)K2_P"$>U3_ *'/7/\ OS9?_(]=!16Z22LCRJE2 M=23E-MON]3G_ /A'M4_Z'/7/^_-E_P#(]'_"/:I_T.>N?]^;+_Y'KH**9!S_ M /PCVJ?]#GKG_?FR_P#D>C_A'M4_Z'/7/^_-E_\ (]=!10!S_P#PCVJ?]#GK MG_?FR_\ D>C_ (1[5/\ H<]<_P"_-E_\CUT%4M6U.#1],FO[A9&BBQN$8!8Y M( QDCN:!-I*[,S_A'M4_Z'/7/^_-E_\ (]'_ CVJ?\ 0YZY_P!^;+_Y'HT+ MQAI_B"]>UM(;E)$C,A,JJ!@$#LQ]1704)W%"<9KFB[HY_P#X1[5/^ASUS_OS M9?\ R/1_PCVJ?]#GKG_?FR_^1ZZ"B@HY_P#X1[5/^ASUS_OS9?\ R/1_PCVJ M?]#GKG_?FR_^1ZZ"B@#G_P#A'M4_Z'/7/^_-E_\ (]'_ CVJ?\ 0YZY_P!^ M;+_Y'KH** .?_P"$>U3_ *'/7/\ OS9?_(]'_"/:I_T.>N?]^;+_ .1ZZ"B@ M#G_^$>U3_H<]<_[\V7_R/1_PCVJ?]#GKG_?FR_\ D>N@HH Y_P#X1[5/^ASU MS_OS9?\ R/1_PCVJ?]#GKG_?FR_^1ZZ"J4^JV5O*8FG#S#_EE$#(_P#WRN30 M)M+.(^2GY+\Q_%C2$IO>* M_0\WU/P=>^$"USX4\0W'VY@?,M9?+:27W5%0*<9X!7 ]:?HNNZGJ]PFF/XIU M>SUGVUG;6:%+:WCA4]0B@9^OK6)XF\&:5XH MBS*/W=U$,.OIG^\/8_ABL'2E#6E]W3Y=CU8XR.+M3Q[VVFE[R[FS['/BLNGAK3TE![26J?SZ/R=F9'_"/:I_T.>N?]^;+ M_P"1Z/\ A'M4_P"ASUS_ +\V7_R/7045JC_ M (1[5/\ H<]<_P"_-E_\CUT%% '/_P#"/:I_T.>N?]^;+_Y'H_X1[5/^ASUS M_OS9?_(]=!10!S__ CVJ?\ 0YZY_P!^;+_Y'H_X1[5/^ASUS_OS9?\ R/70 M44 <_P#\(]JG_0YZY_WYLO\ Y'H_X1[5/^ASUS_OS9?_ "/7044 <_\ \(]J MG_0YZY_WYLO_ )'H_P"$>U3_ *'/7/\ OS9?_(]=!10!S_\ PCVJ?]#GKG_? MFR_^1Z/^$>U3_H<]<_[\V7_R/7044 <__P (]JG_ $.>N?\ ?FR_^1Z/^$>U M3_H<]<_[\V7_ ,CUT%% & OA_4PP)\8ZVP!Z&&RP?_)>M^BB@ KG_'?_ "3S MQ+_V"KK_ -%-705S_CO_ ))YXE_[!5U_Z*:@ \"?\D\\-?\ 8*M?_12UT%<_ MX$_Y)YX:_P"P5:_^BEKH* "BBB@ HHHH **** "BBB@ HHHH *Y_QW_R3SQ+ M_P!@JZ_]%-705S_CO_DGGB7_ +!5U_Z*:@#H**** "BBB@ HHHH ***R-8\3 MZ+H*DZCJ$,3XR(@=SG_@(YI.2BKMFE.E.K+DIQ;?9*YKTC,J*69@J@9))P!7 MG4GQ"UC79&@\)Z!-.,X^U7(P@_7 _%OPJI=^%+Z^47/CKQ;';P'YOLR3+&@_ M%L*/R/UK*-5U'RT8N3_K^M$>E_97L=<945/R^*7_ ("MOFT='K/Q)\.Z23%' MVAQ6JG^*_NP&'_ 8@X/_ M 'T*U^I8B7\5\J[72_/7\ ^NX+#_ .[4N9_S3U^Z*]W[VSGM/^%U@9_M>O7U MUJ]V>6,KE4_GD_G^%=K9V%IIUN(+*VAMXAT2) H_2LO^S=?N?^/K7DMU_NZ? M:*A^FZ4R9^H H_X1/3)>;YKO4#W%Y=/(A_[9YV?^.UI##4*7VON3?XNQQXG' MXG%?Q9-KMLEZ):?@6+SQ'HNGR^3TGQ3 M'::+$;>RB17S=6C*USGDG#@,%[#&,X)STKVFST^RTZ+RK&SM[6/^Y!$J#\@* MY7Q'XB\,V^LBVU;1_MEW9E3'*]M')Y9(#?*6.1VZ5Z&!Q6#PU7GJTG-6>[7Y M6M^/XGGUI*,;RE8OV'BF[N].MKF3PQK"/-$DC*%BPI(!QRX/Y@'VJQ_PD-S_ M -"WK/\ WQ#_ /'*L0^(M+FMX95NT)E17$2G=(H(S@JN2#3_ .U7D_X]M-OI MO=HQ$/\ R(5/Z5R.M1;NJ?XLI37WD$G!Z>7IDO/XD 5 WC*X8_+H>I0*>C3V-RQ_[YCB;^8KK**.>C_)_ MY,_\AN,GU.1_X2-Y?];(M,U+7KJ#6Y+>V;[.?)WR>6CG'O#D%Q#I6EQ0)<8\T,6D+X[$N2 M<>W2G-X2T0.7MK,V,A.2]A*]L2?4^61G\!JUG+#Q<(]M'^MU][(I4( MPC:R+7]D ?H/X[*ZV.?^ 2 ?\ ?=7K2_\O5A)_V[.G_LYJI_PE5E#QJ% MKJ&GGN;FU;8/K(FY!_WU6C8ZII^IQ^987UM=)_>@E5Q^AJ)T*D%>47;OT^_5 M?B/E71_B0[]:7_EA82?]MG3/_CIH^U:JOW],A;_KG=9_FHK1HK,.5]W_ %\C M._M&]7[^C79_W)(3_-Q1_:Q7[^G7Z?\ ;$-_Z"36C10'++O^1YUKWQ U+3M9 MGM;6U@$,>W;]HB3&Y_-=2WN(DEAD&UT=J? MJOU5FNYROA?QUI_B)OLDJM8ZHG#VDW!)'7:3U^G7VKJ$D212R.K $KE3GD'! M'X$8KAOB5HVBOHS:KO?$%Q?+HWA[Q M!;6Z3!I2LVUR6&-V#M8Y(Y[=">M>?\ "+^/Y?\ 6^+HEQT\M/\ [$4?\(/XME_UOCBZ7=][ MRU?CZ?,/Z5T>UGT@_P /\SB_L_#+XL3#Y*;_ $/0Z*\\_P"%<:S)_P ?'CC5 M),=/O\?G(:/^%5B3_CX\2ZI(#]_YOO?F31[2K_)^*#ZG@5OB5\H2_6QZ'4+W MEK$"9+F% .I9P,5P7_"G]%DYGU+5)".A\Q./S4U,GPB\-(1N:^?']Z8<_DHH MYZW\J^__ ( ?5\M6]>3](?YR.N?6])C.)-4LE)[-<(/ZU6?Q7X=C!+:[IO'4 M"Z0G\@:PD^%7A5 0UK._NUPW]*LI\-/",9!&D D?WKB4_INHO7[+[W_D'L\K M6]2H_P#MV*_.13GZ*?:KR> ?"L8P-%MS_ +Q8_P S6%<_#+?>W,MIJ-K:P3/E8%L>$7& M.)!GCOCGFL:\L6H_NTF_Z[G1AXY.Y/FE-?XK6_\ )4WY_(]!HJEI-G-I^DVU MG<7/VJ6! AFV;=P'3C)[8[U=KL3NM3Q)I*32=UW[A1113)"BBB@ KG_'?_)/ M/$O_ &"KK_T4U=!7/^._^2>>)?\ L%77_HIJ #P)_P D\\-?]@JU_P#12UT% M<_X$_P"2>>&O^P5:_P#HI:Z"@ HHHH **** "BBB@#S6+7=1_P"%B+9ZGK\^ ME2O)*MO87%LHM;B-9$"B-RHWNR'=E7)5CC& 5/12:EKJ^.[&RG2U@TF:&X\M M$??+,R;<.Y*@(/FX4$^Y["KJ'A'5]5UM7O=;AETH$$QFS N,"5)53>&V8#(! MNV9P,)&U( M_8I-5%G_ &?Y*>4(#/Y ;=MW^9G#YW;>HV]Z$UW5_L<7B1M2/V*3519_V?Y* M>4(#/Y ;=MW^9G#YW;>HV]ZU5\(W"W"VYU0'14OOMZV?V;][YF_S-IEW8\L2 M'=C9GH-V*%\(W"W"VYU0'14OOMZV?V;][YF_S-IEW8\L2'=C9GH-V* .IKD/ MB-KFDV'@O7K&\U2RM[RXTJY$-O-<(DDI,; ;5)RA_P#@QA_^*H_X3OP?_P!#7H?_ (,8?_BJZ"B@#D-;^)?A;2M' MN+VVUO2]0FB *VMM?1M))D@8 !)[YZ=JXFQ^/D-S!-YFA2+<+DQJDQ8$9XS\ MO&!U_IGCTKQ9H#>)_#\VD?:5MXYROF,T7F94'.,;ACD YSVKE_ _PM7P1K#7 M\&KBY\R-HI%>UVL5.#@-O..0#T[5WT9X%86I&M&3JW7*UM;^M]'TL5",E)3N MK+H[Z_7YNWX'9/,\6X>SIR4(]H)1^]K M5_-GF">(_"\D:I<^)WND P%;7+2UCQZ;8)%X]B/SJY9>)/!MA)YMC+X0@EZF M5]6@#D^I8!B?SKT.BM'7JM6YG;LM%]RL>=R/=LX[_A/-);_F:/"<7_<31_ZK M1_PFFCM][QUX70>B31Y_,S?TKL:*R#D\V<=_PEGAYOO_ !#TI?\ KE=VH_GF MC_A)?"+?ZSQ[9/\ ]Q:!?_02*[&BBPA_^#&'_P"*H_X3OP?_ -#7H?\ X,8?_BJZ"B@9S_\ PG?@ M_P#Z&O0__!C#_P#%4?\ "=^#_P#H:]#_ /!C#_\ %5T%% '/_P#"=^#_ /H: M]#_\&,/_ ,51_P )WX/_ .AKT/\ \&,/_P 57044 <__ ,)WX/\ ^AKT/_P8 MP_\ Q5'_ G?@_\ Z&O0_P#P8P__ !5=!10!S_\ PG?@_P#Z&O0__!C#_P#% M4?\ "=^#_P#H:]#_ /!C#_\ %5T%% '/_P#"=^#_ /H:]#_\&,/_ ,51_P ) MWX/_ .AKT/\ \&,/_P 57044 <__ ,)WX/\ ^AKT/_P8P_\ Q59M]K?PXU*3 MS;S6/#$THZ2M>0;Q]&W9'X&NRHJH3E!WB[/R"QP?]K^$+?\ Y!WQ$M[/T4ZQ M#<+^4Q? ]@11_P )Q;VGW?&/@_45'027RVK_ (L&<$_\!%=Y16OUB;^*S]4O MST?XBL<'_P +:\-6_P#R$+RTA ZR6]_;W*?@(W+_ /CE:]K\0O!UY!YT7B;2 MU3_IK*>(]4E0,I_ T<]&6\6O1_H_\ ,-3GY_B+ MX-MY(4;Q+IKF5MJF&<2J#_M%O4XJ;_A._"'_0UZ'_ .#&'_XJO._&GP3E MUKQ$M]H5Q8V-G*%$UNZE!%C S&JC&".<<<_7CT"Q\#Z-9V%M:N+NX$,2Q[I; MR8AMH R5WX[= ,#MBNW$8? 0HTYTJK$3T\5:&?\ N(1?_%4__A#?#9_UFC6M\>3H.EQX.1LLXQ@_@*XK4.\ON7^96I /&WA,]/$^BG_ +?XO_BJ MCF\>>$8/O^)=)Z9^6[1OY&MB+3K*#_4V=O'@Y^2)1SZ\"K-%Z':7WK_(-3CY M?BIX&A(W^([3G^Z&;^0JG_PN7P$W^KUY']?W+KC_ +Z KO**.>C_ "/_ ,"_ MX :G!_\ "WO";?ZN]1_^WFW3_P!"D%'_ M?0G_U9MQ[R:O8*"/PN"?S%=Y1 M1[2GTI_B_P#@!9]SR[Q)\5%C\.7TFDW.BI>"(^43K%O(Z^X12=S 9('KZ]#Q MOPS^*MS87UY%XLUHR:Y);F0-(DF0 ,[BI&644DJ?K^GZOIVJJQL M+V"XV<.J."R'T9>JGV-3*A4BN:VG=:K[U_P NC,_X3OP?_T->A_^#&'_ .*H M_P"$[\'_ /0UZ'_X,8?_ (JN@HK(9S__ G?@_\ Z&O0_P#P8P__ !5'_"=^ M#_\ H:]#_P#!C#_\57044 <__P )WX/_ .AKT/\ \&,/_P 51_PG?@__ *&O M0_\ P8P__%5T%% '/_\ "=^#_P#H:]#_ /!C#_\ %4?\)WX/_P"AKT/_ ,&, M/_Q5=!10!S__ G?@_\ Z&O0_P#P8P__ !5'_"=^#_\ H:]#_P#!C#_\5704 M4 8"^.?"+L%7Q5HA8G U"+)/_?5;]%% !7/^._^2>>)?^P5=?\ HIJZ"N?\ M=_\ )//$O_8*NO\ T4U !X$_Y)YX:_[!5K_Z*6N@KG_ G_)//#7_ &"K7_T4 MM=!0 4444 %%%% !1110 4444 %%%% !7/\ CO\ Y)YXE_[!5U_Z*:N@KG_' M?_)//$O_ &"KK_T4U '04444 %%%% !1110 4444 %%%% !1110 4444 %%% M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 M %%%% !1110 4444 %%%% !1110 4444 %4-0T33-497O+**25/N38VR)_NN M,,OX$5?HJHSE!WB[,##_ +(U6QYTS6I'0=(-13SU^@<$/^+,WTH_MN_LN-5T M6X11UGL3]JC_ " $G_CA'O6Y16OM^;^)%/\ !_>OU0K=BEI^KZ=JJL;"]@N- MG#JC@LA]&7JI]C5VJ&H:)IFJ,KWEE%)*GW)L;9$_W7&&7\"*I?V1JMCSIFM2 M.@Z0:BGGK] X(?\ %F;Z4$M%O;>UFOGF>7EC;Q[Q",X^?N#UXY/'3I5T\#B*LN6 ME!R]-?R_X G)+<[:BHX)HKF".>"19(I%#HZG(92,@@^F*DKE:MHR@HHHH ** M** "N?\ '?\ R3SQ+_V"KK_T4U=!7/\ CO\ Y)YXE_[!5U_Z*:@ \"?\D\\- M?]@JU_\ 12UT%<_X$_Y)YX:_[!5K_P"BEKH* "BBB@ HHHH **** "F>;&)A M#YB>:5+A-PW%>F<>G(I]>4W>FIH'C];_ %K2([Z.:5YTU:VEQ<0[YXUC\P?* MP5=PCPC,"NK45YN^F)I^H77BJ[MO#FJ(^J *\5F);E095A3;<%L*R M<90+U4C.3FH([2)=%@\2B '7GUX1M=9_>E#=^28=W78(^-O3C.,C- 'I]<_X M[_Y)YXE_[!5U_P"BFKH*Y#XC:A+1[VZBETJYWW,+PB.+,;#Y@\BL M<=?E4\=,GB@#KZ*Y_P#X2'5/^A,US_O]9?\ R11_PD.J?]"9KG_?ZR_^2* . M@HKG_P#A(=4_Z$S7/^_UE_\ )%'_ D.J?\ 0F:Y_P!_K+_Y(H Z"BN?_P"$ MAU3_ *$S7/\ O]9?_)%'_"0ZI_T)FN?]_K+_ .2* .@HKG_^$AU3_H3-<_[_ M %E_\D4?\)#JG_0F:Y_W^LO_ )(H Z"BN?\ ^$AU3_H3-<_[_67_ ,D4?\)# MJG_0F:Y_W^LO_DB@#H**Y_\ X2'5/^A,US_O]9?_ "11_P )#JG_ $)FN?\ M?ZR_^2* .@HKG_\ A(=4_P"A,US_ +_67_R11_PD.J?]"9KG_?ZR_P#DB@#H M**Y__A(=4_Z$S7/^_P!9?_)%'_"0ZI_T)FN?]_K+_P"2* .@HKG_ /A(=4_Z M$S7/^_UE_P#)%'_"0ZI_T)FN?]_K+_Y(H Z"BN?_ .$AU3_H3-<_[_67_P D M4?\ "0ZI_P!"9KG_ '^LO_DB@#H**Y__ (2'5/\ H3-<_P"_UE_\D4?\)#JG M_0F:Y_W^LO\ Y(H Z"BN?_X2'5/^A,US_O\ 67_R11_PD.J?]"9KG_?ZR_\ MDB@#H**Y_P#X2'5/^A,US_O]9?\ R11_PD.J?]"9KG_?ZR_^2* .@HKG_P#A M(=4_Z$S7/^_UE_\ )%'_ D.J?\ 0F:Y_P!_K+_Y(H Z"BN?_P"$AU3_ *$S M7/\ O]9?_)%'_"0ZI_T)FN?]_K+_ .2* .@HKG_^$AU3_H3-<_[_ %E_\D4? M\)#JG_0F:Y_W^LO_ )(H Z"BN?\ ^$AU3_H3-<_[_67_ ,D4?\)#JG_0F:Y_ MW^LO_DB@#H**Y_\ X2'5/^A,US_O]9?_ "11_P )#JG_ $)FN?\ ?ZR_^2* M.@HKG_\ A(=4_P"A,US_ +_67_R11_PD.J?]"9KG_?ZR_P#DB@#H**Y__A(= M4_Z$S7/^_P!9?_)%'_"0ZI_T)FN?]_K+_P"2* .@HKG_ /A(=4_Z$S7/^_UE M_P#)%'_"0ZI_T)FN?]_K+_Y(H Z"BN?_ .$AU3_H3-<_[_67_P D4?\ "0ZI M_P!"9KG_ '^LO_DB@#H**Y__ (2'5/\ H3-<_P"_UE_\D4?\)#JG_0F:Y_W^ MLO\ Y(H Z"BN?_X2'5/^A,US_O\ 67_R11_PD.J?]"9KG_?ZR_\ DB@#H**Y M_P#X2'5/^A,US_O]9?\ R11_PD.J?]"9KG_?ZR_^2* .@HKG_P#A(=4_Z$S7 M/^_UE_\ )%'_ D.J?\ 0F:Y_P!_K+_Y(H Z"BN?_P"$AU3_ *$S7/\ O]9? M_)%'_"0ZI_T)FN?]_K+_ .2* .@HKG_^$AU3_H3-<_[_ %E_\D4?\)#JG_0F M:Y_W^LO_ )(H Z"O-_&GP@L?%_B-=8&I264CA1>)?^P5=?^BFH / G_)//#7_ &"K7_T4 MM=!7/^!/^2>>&O\ L%6O_HI:Z"@ HHHH **** "BBB@ KG/^$&T'^V5U/[-- MO5C(+?[1)]G\PL&W^3G9G<-W3&[YOO:0>%M&75O[3%H?M'FF<+YS^4)<8\P1;M@?'\>W= M[UL44 %<_P"._P#DGGB7_L%77_HIJZ"N?\=_\D\\2_\ 8*NO_134 =!1110 M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1 M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%% M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %<_X[_Y)YXE_P"P M5=?^BFKH*Y_QW_R3SQ+_ -@JZ_\ 134 '@3_ ))YX:_[!5K_ .BEKH*Y_P " M?\D\\-?]@JU_]%+704 %%%% !1110 4444 %%%% !17/OXTT./7QH[3S>?N\ MLS?9W\@29 V&7&S=E@,9ZG;U(%6!XIT9M6_LP79^T>:8 WDOY1EQGRQ+MV%\ M?P;MWM0!L5S_ ([_ .2>>)?^P5=?^BFKH*Y_QW_R3SQ+_P!@JZ_]%-0!T%%% M% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 M %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 5S_CO_DGGB7_ M +!5U_Z*:N@KG_'?_)//$O\ V"KK_P!%-0 >!/\ DGGAK_L%6O\ Z*6N@KG_ M )_R3SPU_V"K7_T4M=!0 4444 %%%% !1110 4444 >37&J6VB>.D'AW65F MEEED2?1+F+,F^2X0R>6,+(G!>3+;EQR,+S5J.YA_L6#PTLZC7EUX2O:A?WH4 M7?G&8KUV&/G?TY SGBO3/*C,PF\M/-"E ^T;@O7&?3@4^@ KD?B+#J\G@S76 MLKVRBM!I=SYT,MF\DC_NVSM<2J%R.!E6P>>>E==10!S_ -C\8?\ 0=T/_P $ MTW_R51]C\8?]!W0__!--_P#)5=!10!S_ -C\8?\ 0=T/_P $TW_R51]C\8?] M!W0__!--_P#)5=!5#4]=TC1?*_M75;&P\W/E_:KA(M^,9QN(SC(_.@#.^Q^, M/^@[H?\ X)IO_DJC['XP_P"@[H?_ ()IO_DJM._UC2]+, U#4K.T-PVV$7$Z MQ^8?1M69[B&UB,MQ-'%&" 7D8*,DX R?4D#\: ,/['XP_Z#NA_P#@ MFF_^2J/L?C#_ *#NA_\ @FF_^2JT-3U[1]%,8U75K&P\W/E_:KA(M^.N-Q&< M9'YU=AFBN8(YX)4EAD4.DB,&5E/(((ZB@#"^Q^,/^@[H?_@FF_\ DJC['XP_ MZ#NA_P#@FF_^2JZ"B@#D(9_&$OB"\TK^UM# MK6"X\W^R)OF\QYEVX^T\8\K M.<\[NV.;_P!C\8?]!W0__!--_P#)5=!10!S_ -C\8?\ 0=T/_P $TW_R51]C M\8?]!W0__!--_P#)5=!10!S_ -C\8?\ 0=T/_P $TW_R51]C\8?]!W0__!-- M_P#)5:&FZ[I&LF4:7JMC?&''FBUN$EV9SC=M)QG!Z^E/T_6-,U=96TW4;2]$ M3;)#;3K)L;T.TG!H S/L?C#_ *#NA_\ @FF_^2J/L?C#_H.Z'_X)IO\ Y*K< MCN(9998HYHWDA($B*P)0D9 ([<'-5-/US2=6EFBT[5+*\D@.)DMKA)#&>1\P M4G'0]?2@#.^Q^,/^@[H?_@FF_P#DJC['XP_Z#NA_^":;_P"2JZ"B@#D-=G\8 M:-X?U+51JVASFRM9;@1#2)E\S8A;;G[2<9QC.#5_['XP_P"@[H?_ ()IO_DJ MN@HH Y_['XP_Z#NA_P#@FF_^2J/L?C#_ *#NA_\ @FF_^2JZ"B@#G_L?C#_H M.Z'_ .":;_Y*H^Q^,/\ H.Z'_P"":;_Y*K1U/7=(T7RO[5U6QL/-SY?VJX2+ M?C&<;B,XR/SIU_K&EZ68!J&I6=H;AML(N)UC\P^BY(R>1T]: ,S['XP_Z#NA M_P#@FF_^2J/L?C#_ *#NA_\ @FF_^2JW)[B&UB,MQ-'%&" 7D8*,DX R?4D# M\:SM1\3Z!I%R+;4]*>WE7='+$X9''J"."*EH Y_P"Q M^,/^@[H?_@FF_P#DJJ$,_C"7Q!>:5_:VA@6UK!<>;_9$WS>8\R[,>5G. M>=W;'/7T4 <_]C\8?]!W0_\ P33?_)5'V/QA_P!!W0__ 33?_)5=!10!S_V M/QA_T'=#_P#!--_\E4?8_&'_ $'=#_\ !--_\E5T%9^FZ[I&LF4:7JMC?&'' MFBUN$EV9SC=M)QG!Z^E &?\ 8_&'_0=T/_P33?\ R51]C\8?]!W0_P#P33?_ M "56GI^L:9JZRMINHVEZ(FV2&VG638WH=I.#5E+B&666*.:-Y(2!(BL"4)&1 MD=N#GF@##^Q^,/\ H.Z'_P"":;_Y*H^Q^,/^@[H?_@FF_P#DJM+3=:TK65E; M2]3LKX1$"0VLZR[">@.TG'2KU '/_8_&'_0=T/\ \$TW_P E50UV?QAHWA_4 MM5&K:'.;*UEN!$-(F7S-B%MN?M)QG&,X-=?10!S_ -C\8?\ 0=T/_P $TW_R M51]C\8?]!W0__!--_P#)5=!10!S_ -C\8?\ 0=T/_P $TW_R51]C\8?]!W0_ M_!--_P#)5=!5#4]=TC1?*_M75;&P\W/E_:KA(M^,9QN(SC(_.@#.^Q^,/^@[ MH?\ X)IO_DJC['XP_P"@[H?_ ()IO_DJM._UC2]+, U#4K.T-PVV$7$ZQ^8? M1M69[B&UB,MQ-'%&" 7D8*,DX R?4D#\: ,/['XP_Z#NA_P#@FF_^ M2J/L?C#_ *#NA_\ @FF_^2JTM1UO2M(:%=3U.RLFG)$0N;A8S(1C(7<1GJ.G MK5Z@#G_L?C#_ *#NA_\ @FF_^2J/L?C#_H.Z'_X)IO\ Y*KH** .0AG\82^( M+S2O[6T,"VM8+CS?[(F^;S'F7;C[3QCRLYSSN[8YO_8_&'_0=T/_ ,$TW_R5 M7044 <_]C\8?]!W0_P#P33?_ "51]C\8?]!W0_\ P33?_)5=!10!S_V/QA_T M'=#_ /!--_\ )5'V/QA_T'=#_P#!--_\E5H:;KND:R91I>JV-\8<>:+6X279 MG.-VTG&<'KZ4_3]8TS5EE;3=1M+U86V2&VG60(WH=I.#]: ,S['XP_Z#NA_^ M":;_ .2J/L?C#_H.Z'_X)IO_ )*K0TW7=(UDRC2]5L;XPX\T6MPDNS.<;MI. M,X/7TI^GZQIFKK*VFZC:7HB;9(;:=9-C>AVDX- &9]C\8?\ 0=T/_P $TW_R M51]C\8?]!W0__!--_P#)5=!10!R&N3^,-%\/ZEJO]K:'/]BM9;GR1I$R^9L0 MMMS]I.,XQG!^E=?110 5S_CO_DGGB7_L%77_ **:N@KG_'?_ "3SQ+_V"KK_ M -%-0 >!/^2>>&O^P5:_^BEKH*Y_P)_R3SPU_P!@JU_]%+704 %%%% !1110 M 4444 %%%% !1110 4444 %%%% !7,ZO);PZU/'I=@EYXAO+18G,C$Q0P MM M:4GA4W,WR@;G/8@$KTU96H>%_#^K77VK4M"TR]N-H7S;FTCD? Z#+ G% '): M5I5CHFJZII>HRPRP6?AZV@22X :W7S1(2#P%R!GL/ESVJK?Z0MY\,O#]_J7 MGO>6L%@41IG"*Y>,;BF<%\'&2#CMBNZF\.Z)<6]I;S:/I\D-G_Q[1O:H5@_W M 1A>@Z>E7I[>&ZB,5Q#'+&2"4D4,,@Y!P?0@'\* .:U&P-]XOEE@\176GSVU M@FZ""VC)V,['=OE1E*DK@A0"-HR>16KX;U*?6/#6FZEO/K4NI:)I.L&$ZII=E?&$DQ?:K=)=A.,[=P..@Z>E7Z "BBB@ HHHH * MI:Q%83Z+?1:JRKI[P.MR6D*#R\'=E@00,9[U=J&ZM;>^M9+6[@BN+>5=LD4J M!T<>A!X(H \]\1VEWJFAZIKT%HUA:6VC3VME"R;9I8WVEG8#E%VH-J?>Y)(4 M\5K^5:R>.-,BTUXDA;0I5D:W8 B+?&(2".W^LV_\"Q6YI_A?P_I%S]ITW0M, MLKC:5\VVM(XVP>HRH!Q5C3]'TS2%E73=.M+(2MOD%M L>]O4[0,F@#SZ[TY= M%T'XA6NDI*"%5LM,[NQ:!2[%V)8GDG))-=%ILUW:>)-.LK]-)N3<6,K6LME; MM&]M&ACRA+.V]#N3YAM&5'R\C'4);PQ2RRQPQI),09'50"Y P"3WX&*J:=H> MDZ0\SZ9I=E9-.096MK=(S(1G&[:!GJ>OJ: +]%%% !1110 4444 EV"7GB&\M%B%3P^7/:NMU#POX?U:Z^U:EH6F7MQM"^;;1]/DAL_P#CVC>U0K!_N C"]!T]* .%O](6\^&7A^_U M+SWO+6"P*(TSA%+Y);F"PT*"1HWU>X^SR.K89( I> M4CODJI7/8N#703V\-U$8KB&.6,D$I(H89!R#@^A /X4/;PR313/#&TL6?+=E M!9,\'![9H (((K:WC@@C2*&)0B1H,*J@8 ["I*** "BBB@ HHHH I:Q%83Z M+?1:JRKI[P.MR6D*#R\'=E@00,9[UPGB.TN]4T/5->@M&L+2VT:>ULH63;-+ M&^TL[ U6/?(OVAC+)NM@6)D?<]O4[0,FK*6\,4LLL<,:23$&1U4 N0,#)[\#'- M '%:!%-I_BS3[6]N+:\FET8K!+91^6D<*.F ZY.XDMPX*C@@(*[FJ&FZ)I.C M>;_9>EV5CYI!D^RVZ1;R.F=H&>I_.K] !1110 4444 %EV"7G MB&\M%B%3P^7/ M:JM_I"WGPR\/W^I>>]Y:P6!1&F<(KEXQN*9P7P<9(..V*[J;P[HEQ;VEO-H^ MGR0V?_'M&]JA6#_GMX;J(Q7$,.O/3'7FM*_T/2=5F@FU'2[*\E@.87N+=)&C/!^4L#CH.GI5^ M@ HHHH **** "J6L16$^BWT6JLJZ>\#K]7:ANK6WOK62 MUNX(KBWE7;)%*@=''H0>"* //?$=I=ZIH>J:]!:-86EMHT]K90LFV:6-]I9V M Y1=J#:GWN22%/%7=3AT:;Q);0NULNDMX=G6]*2;%^S;H_+RRD$+CS,'/3=B MNFT_POX?TBY^TZ;H6F65QM*^;;6D<;8/494 XI\'AW1+:TN;2#1M/BMKKFXA MCM45)O\ ?4##?C0!Q/B.TN]4T/5->@M&L+2VT:>ULH63;-+&^TL[ 3C'E>9%Y/3M_K-O;[V*V=/\+^'](N?M.F MZ%IEE<;2OFVUI'&V#U&5 .*L:?H^F:0LJZ;IUI9"5M\@MH%CWMZG:!DT 7:* M** "BBB@ KG_ !W_ ,D\\2_]@JZ_]%-705S_ ([_ .2>>)?^P5=?^BFH / G M_)//#7_8*M?_ $4M=!7/^!/^2>>&O^P5:_\ HI:Z"@ HHHH **** "BBB@ H MHHH **** *>JZC#H^CWVIW*NT%G;R7$@C +%44L< XYP*R_^$AU3_H3-<_[_ M %E_\D4>._\ DGGB7_L%77_HIJZ"@#G_ /A(=4_Z$S7/^_UE_P#)%'_"0ZI_ MT)FN?]_K+_Y(KH*Y/Q)I>GZOXP\/VVI6-M>V_DW;>5-O+5B$4E0&"DA=W)ZG-F;6/%6G6DL$\.HPQ7-Q:V]M?ZF M+,S1-+*$?Y8&*'"D%H#K A&0.-VU0?2L;Q'9R3Z]X: MU0ZA>&!M0C6*R91'&F8G)9EVAB_'\1XST!S0!I_\)#JG_0F:Y_W^LO\ Y(H_ MX2'5/^A,US_O]9?_ "17-^(-'6;5M=\17,'AO4[;3XU_T>ZM!<3JL4>]H]Y8 M"%B6)^ZW#*3V%>@02B>WBF52H= P5AR,C/- &'_PD.J?]"9KG_?ZR_\ DBJ] MQXON[2>TAG\(ZXDEW*88!YEF=[A&D(XN./E1CSZ>N*ZBN?\ $/\ R'/"?_85 MD_\ 2*ZH /\ A(=4_P"A,US_ +_67_R11_PD.J?]"9KG_?ZR_P#DBN@HH Y_ M_A(=4_Z$S7/^_P!9?_)%'_"0ZI_T)FN?]_K+_P"2*RK?PWH>M^+O$TFJZ-I] M](LT"*]S;)(RKY"\ D9'X5@6&OZXRV.A6']J3QJ]\5NK-K=[AX89_+C^:Y.P MC#Y07C&0^7"G.0,%0:ZQ]9@MK^#3I MTO7NG"@R0Z=.T))[F0*44?5N.] %'_A(=4_Z$S7/^_UE_P#)%'_"0ZI_T)FN M?]_K+_Y(K(M+2XTGQMK-Q)J%U?W#Z2DVZ?: I#R81%4 *O'N3GDDUE^$XX[5 M?#FK:CX?MHKG48U5=5BNLW4TSQ%CYZA%!5L-@;WP=G QE0#J_P#A(=4_Z$S7 M/^_UE_\ )%'_ D.J?\ 0F:Y_P!_K+_Y(KH** .7M_%]W=SW<,'A'7'DM)1# M./,LQL/7US5C_A(=4_Z$S7/^_P!9?_)%'A[_ )#GBS_L*Q_^ MD5K704 <_P#\)#JG_0F:Y_W^LO\ Y(H_X2'5/^A,US_O]9?_ "15GQ5_R*&M M?]>$_P#Z+-JZJ)=I-=)0!R]_XON],TZYO[SPCKD=K:Q/-,_F69VHH)8X%QDX /2K'_ D. MJ?\ 0F:Y_P!_K+_Y(H\=_P#)//$O_8*NO_135T% '/\ _"0ZI_T)FN?]_K+_ M .2*/^$AU3_H3-<_[_67_P D5T%'[;4K&VO;?R;MO*N85D3( M$>#A@1F@"Y_PD.J?]"9KG_?ZR_\ DBC_ (2'5/\ H3-<_P"_UE_\D5R6J7\W M@[5-6T[P[:[;:5;$16T 4);33S/&WEJQ"*2H#!20N[D]3FS-K'BK3K26">'4 M88KFXM;>VO\ 4Q9F:)I90C_+ Q0X4@KE1\QP=PH Z3_A(=4_Z$S7/^_UE_\ M)%'_ D.J?\ 0F:Y_P!_K+_Y(J87C^'M.1=6O+[4G,C!)X-->60KU =8$(R! MQNVJ#Z5C>([.2?7O#6J'4+PP-J$:Q63*(XTS$Y+,NT,7X_B/&>@.: -/_A(= M4_Z$S7/^_P!9?_)%'_"0ZI_T)FN?]_K+_P"2*XSQ)9BYU;Q+K/V6*>*P>$'4 M)TAG\(ZXDEW*88!YEF=[A&D(XN./E1CSZ>N*ZBN?\0_\ASP MG_V%9/\ TBNJ #_A(=4_Z$S7/^_UE_\ )%'_ D.J?\ 0F:Y_P!_K+_Y(KH* M* .?_P"$AU3_ *$S7/\ O]9?_)%'_"0ZI_T)FN?]_K+_ .2*RK?PWH>M^+O$ MTFJZ-I]](LT"*]S;)(RKY"\ D9'X5@6&OZXRV.A6']J3QJ]\5NK-K=[AX89_ M+C^:Y.PC#Y07C&0^7"G.0,%0:ZQ]9 M@MK^#3ITO7NG"@R0Z=.T))[F0*44?5N.] %'_A(=4_Z$S7/^_P!9?_)%'_"0 MZI_T)FN?]_K+_P"2*R].TZZLO'NJ[M3N;RZGTN-Q)<;=L9\R0!550 JC'3DG MG))KF]&2/3+WPH(-'O;+7GNC;ZS<2VS(;DF*1I-TI $^77>"I8 #/RT =Q_P MD.J?]"9KG_?ZR_\ DBC_ (2'5/\ H3-<_P"_UE_\D5T%% '+V_B^[NY[N&#P MCKCR6DHAG'F68V.460#FXY^5U/'KZYJQ_P )#JG_ $)FN?\ ?ZR_^2*/#W_( M<\6?]A6/_P!(K6N@H Y__A(=4_Z$S7/^_P!9?_)%'_"0ZI_T)FN?]_K+_P"2 M*L^*O^10UK_KPG_]%FN4U+0M)\/Z!I&KZ)IEG8:FMQ9HKVD*Q-.))$1XWV@; MP58G!SR >HS0!T7_ D.J?\ 0F:Y_P!_K+_Y(H_X2'5/^A,US_O]9?\ R17, M6&O^+-5G.I65AJDD(OI(1;#[$+0PI*8V)+.)P^%)STW<;2.NYX9N]5U42ZY< M:H_V-IKF+^SA;JRQK'*R(58#?OPA+9+ EB !@4 6_P#A(=4_Z$S7/^_UE_\ M)%'_ D.J?\ 0F:Y_P!_K+_Y(JIJUYX?U_2Q-JAOX].M)U>6WN[&:!+IB"$C M:.2,&4;B"%4'+!>O KGHM%99M+TZZL%L]#U35Y)DTDXV1Q+;LRQN@^4!G0R% M!P">>N?\ '?\ R3SQ+_V"KK_T4U=!0 5S_CO_ M ))YXE_[!5U_Z*:N@KG_ !W_ ,D\\2_]@JZ_]%-0!A^"]=U&'P+X>B3PGK,Z M)IELJRQRV85P(E^8;IP<'KR ?4"MS_A(=4_Z$S7/^_UE_P#)%8WA[Q7H?A[P M%X5AU2_6"232+5E3RV4HS\H.*N?\ "S/"'_07_P#):7_XBLW5IQ=G)'73 MP&+JQ4Z=*33ZI.Q=_P"$AU3_ *$S7/\ O]9?_)%'_"0ZI_T)FN?]_K+_ .2* MR+#XG:(8&_M>8V%QO.V(Q.^4ZJ5HW"8? MY<%H^,')SD:=SXBU2"70["WTZSO[_4K1YWECO#';(4$98AMC,4._@@$].,$D M;' 3_P#"0ZI_T)FN?]_K+_Y(H_X2'5/^A,US_O\ 67_R16//XZ9(1=FSF26V ML]0DN;3SEVB6V*!EW;"2"2=K#'!R5).!./',MBTC:WI0LH3ISZE 8;GSW:-" MH9&7:H5_G3@%@*+2[NDN+6'30N@7M[$L$RW*F5/+V$LT:D,NXY7!4Y')[3:A\3K'3K MJY@:72RM@J"[%SJ:6]P[% [>3$5/F8##JR@G('2@#>_X2'5/^A,US_O]9?\ MR11_PD.J?]"9KG_?ZR_^2*Q(/%^I0ZMXAEGMXKFQA>UBTZ*&?YG>8+L7E & M+ DDG;[@5:OO&EYI$-[%J.BK_:5M]G=+:UN_,2>.641 H[(GS!B<@J.W.#D M%3QIKNHS>!?$,3^$]9@1],N5:626S*H#$WS';.3@=> 3Z UN?\)#JG_0F:Y_ MW^LO_DBL/Q+K=W<^$_%^DZI816=]#HD]PH@N#/')$TY]!N('YD#WH XZ*WABTN[TW_ M (0#7);:\)-SY]U:2R3'U>1[HNQ&!@DY&!C&!4<5E!':W=NW@/Q%,+L*LTES MJ%O-*P4Y4"1[LNNT\C!&#R,'FK,'B[5&\*37]QI]O#JC:B=/AM3)E$V:X\$: MX[6THFB/VBS&UP" >+GGACUJWHNIZ@^KW^C:JUI+=VL<4Z3VL;1))')N ^1F M8J048?>.>#QG%96J>)]7@;7+^RCL?[+T1PD\4J,9;C"*\A1PP$>U6 *MD@] M* (KV%=1OFN[GP-XB,CA1*B7]LD4V.GF1K=!)../F!XP.@K7_P"$AU/_ *$S M7/\ O]9?_)%9>H^*=60:UJ5@EB=*T5@L\=]FUB M*!9,#:,K'>*IX&.E2W4,5W9V=J? .N01V7_'J;2[M;=X!C!"/'=*R@C@@'![ MUI^+/$&HZ'!";#2FN=TL0FN9&5884:0*<\[F;G@ 8[DCN[QIXCE\->'KJ[LX M$N+\0R200OG;A%W,S8YV@=?4D#J10!B36%M-86]F? /B".*WW^6\%_;Q2?/] M_,BW8=MQY;).X\G)K:AUR_MX8X8?!.M1Q1J$1%EL0%4# 'VCI57Q)K^J:7: M"\CGTO3[*.V$K7.H N+B8@D0QJLBD' /)W=0 #S6M?ZX=.\)3:Y<6;QO%:?: M&M78!@VW.PGUSQF@#.&IW8U%M0'@C7/M3PB!I/M%GR@)(&/M..I-9]I EE?I M>P>!?$/F1EC"CW]L\4!/!,<3712,X)'R@<$CH34ESXIU;PZ+A=?2QN'_ +-D MOX?L:M%\T94-$=S-GEUPXQGGY1CG0TO5-8AUV#2M;-A))=6C74+VD;QA"C*' MC8,S;L;U(8$9Y^44 2?\)#JG_0F:Y_W^LO\ Y(H_X2'5/^A,US_O]9?_ "17 M044 <'H6NZBFL>)V7PGK,A?4T9E66SS&?LEN-K9G S@ \9&&'.<@;G_"0ZI_ MT)FN?]_K+_Y(H\/?\ASQ9_V%8_\ TBM:Z"@#F;K6+Z]LY[2X\%:X\$\;1R+Y M]D-RD8(R+G/0UDV5E%8W4%RG@GQ1-);_ .H^V:K#5S>E>(=1U#Q3>Z=34F MOF\ ^(/,>87#Q"^MA \HQB1H1=>66X!W%W@N38/YPE-Q8P1.MQIFT_()R7 M.20,?=3)Y&13_"_BJ]UZ]AEDO[5+2N'3PH00FYM.@.0,_:<]1ZU:\6> M(;G2+G3;.SECBGO&D8LVGS7I"(HSMBA(8G++ST S4/\ ;FJW5);:C;V[J&QN&Z.[4D' X/I79U!>W#6EG).EM-= M.@^6& +O<^@W$#\R![T <=%;PQ:7=Z;_ ,(!KDMM>$FY\^ZM)9)CZO(]T78C M P21@C!Y&#S4\7 MB_53X3FOY]/M[?4VU$Z=#;ERT<3M*(T\QAU SDXQG&!U%3C7/$,-YJ.B>18W MVKPQ03P30J8(3'*Y0LZ,[$;"K,0&)88 P: ':9>W&D6IMK/P3X@5&>&/6I]$ MU34I-=U+1M2EL[J6TBAF^TV<+1*/,W?NV1G?##;G.[D,.!WR]4\57B>)[S3K M:_M;.VLQ$LLDVD7%T S+N)>6-U2)0I7E_<]!0!%?6D.I7[WEUX"\0-)+L\Y$ MOK9(I]OW?-C6Z"28X'S \ #H*VO^$AU/_H3-<_[_ %E_\D5F:GXGU>$ZWJ%D MEB=+T1PD\U6& 5;)!Z5V2L'174Y5AD&@# _X2'5/^A,US M_O\ 67_R16'KNNZB^L>&&;PGK,934W95:6SS(?LEP-JXG(S@D\X&%/.< ]Y7 M/^(?^0YX3_["LG_I%=4 '_"0ZI_T)FN?]_K+_P"2*/\ A(=4_P"A,US_ +_6 M7_R17044 <'>V:W]]<7DO@WQ9'-<8\[[-K$4"R8&T96.\53P,=*ENH8KNSL[ M4^ =<@CLO^/4VEW:V[P#&"$>.Z5E!'! .#WK3\6>(-1T."$V&E-<[I8A-(-1T."$V&E-<[I8A-S/@'Q!'%;[_ "W@O[>*3Y_OYD6[#MN/+9)W'DY-;4.N7]O# M'##X)UJ.*-0B(LMB J@8 ^T=*I^(/%366LRZ;#J^C:1]GACDDN=5&Y)&9'@X0DG)ZCBMK4]6DT;POP1M-;6IFDAADRK.%SM5B!P3P"0/I0!E_ MVE=?V@]__P (/KGVEX1 SF>SY0$D#'VG'4FJ&FP)I-TMQ:>!?$(=%*Q+)?VT MJ0*>HB1[HK&.@P@ P .E27/BG5O#HN%U]+&X?^S9+^'[&K1?-&5#1'?E% $G_ M D.J?\ 0F:Y_P!_K+_Y(H_X2'5/^A,US_O]9?\ R17044 <'H6NZBFL>)V7 MPGK,A?4T9E66SS&?LEN-K9G S@ \9&&'.<@;G_"0ZI_T)FN?]_K+_P"2*/#W M_(<\6?\ 85C_ /2*UKH* .9NM8OKVSGM+CP5KCP3QM'(OGV0W*1@C(N<]#63 M9645C=07*>"?%$TEO_J/MFJPW*Q'&,HLMVP4XXR!G!([UWE ?$'F/,+AXA M?6P@>48Q(T(NO++< [BN<@'J,U+;HMKJ[ZI#X$U];EF=\?;+4QJS_>98S=;% M9N[ G)R>3FQ;ZSXBM-4T:/6$TY1JLCI]@@C;SK3",^3)O990NT*Q"J,L"#V M-K2?$&HZAXJO=.N=*:QM(K5)H#,RF67+,I8A20J\< _-ZXZ4 4=8>375MA?> M"O$A-M)YL+P:A;0,CX*Y#1W2GH2.O>JYM@VGM92^"_%,\1E696GU:&62-QT9 M)&O"Z$?[)'?UK3\6>(;G2+G3;.SECBGO&D8LVGS7I"(HSMBA(8G++ST S4/] MN:K=S:7IFFWFFRWMS!+Q%:M '!^,]=U&;P+XABD\)ZS MCZ94O3(J36_ VEZEI_P!GL+/3=/E+JQF2P1C@'.!@J1DXYSTR M.]9?@O0M1F\"^'I4\6:S CZ9;,L4<5F50&)?E&Z G Z,'/0@L[8((';U'>NG@\.Z':SI/;Z-I\4R'*21VJ*RGU! XJC_PCVJ?] M#GKG_?FR_P#D>C_A'M4_Z'/7/^_-E_\ (]12P]*E'EA&R-*^88FN[SF^VFB^ MY-+\!;O1];%]=3:7KL<,%U@O!>VK7(B8+M)B(D38" "5.X9Y &3G"N_#FHZ; MK7A*RT"Y>&'3K&YA-SLDEPDED)G60*$9 MXF+@*2JKPRN,C..2#7U-(]%,8U7XD7UAYN?+^U/I\6_'7&Z 9QD?G15]/439QC83!\W4=/6@">]\(27=]JLXU+RUO3;S1D0 R0W$ M.-C[MV&7Y1E=HSSS6/XI\,ZK+HNH7TMZ;S6;A[.")[&T,:P1)<(^5C+.202S M$DGH. !6I?VITIH5U'XB:C9F=MD(N#I\?F-Z+NMQD\CIZU=_X1[5/^ASUS_O MS9?_ "/0!B>)=$NK;PAXNU;5+^*]U";1)[<-!;F"*.)8W( 0NYR68DDL>W Q M7=UP?C30M1A\"^(97\6:S.B:9U3_ *'/7/\ OS9? M_(] %27PO>2:'>VRSVZW9U1M2M78%D#"82(K=#SC!QTR<9JO<^%]5U5K_4[Q MK"VU61K5K6*)VFBB^SN9%#.54MN9FR0HP",9QS<&EW)@FG'CS5C# 6$LFVPV MQE?O;C]GP,8YSTJ&UM3?Z>VH6?Q$U&XLDW%KF$Z>\:[>N6%OCCO0!GV3V/]F:V MX>XEE=Q+;[D5) J!2'RJY!++@D]:L:?82ZM:BZTWX@:G>6Y)42VPL)$)'496 MW(IEQ:FTU"#3[GXB:C#>W',-M(=/623_ '5-OD]#TH AU'POJLBZSIE@U@-* MUE@T\LKLLMOE%CD"H%(?*H,$LN"3UKLE4(BHHPJC %@#H*Y_Q#_R'/"?_85D M_P#2*ZH_X1[5/^ASUS_OS9?_ "/6'KNA:BFL>&%;Q9K,A?4W56:*SS&?LEP= MRX@ S@$45S_\ PCVJ?]#GKG_?FR_^1Z/^$>U3_H<]<_[\V7_R M/0!;\1Z9-J^BR65NT:R-+"X,A(&$D5ST![*:Q_%O@ZYUZWU.2RUJ\M;F[L6M M!#B$P$8. 2T3.H)/.T@G ]!5F?1;VUB,MQXXUF*,$ O)'8J,DX R;?N2!^-5 MK^U.E-"NH_$34;,SMLA%P=/C\QO1=UN,GD=/6@"V]EXBL$ACLY[75(3;)#)' MJ$H@V.NN #J3 M#9?_ "/0!F77A?5?$1N&UYK"V;^S9;"'[$[3?-(5+2G>JXY1<)SCGYCFM#3- M+UB?7H=6UM;"*2UM&M88[.1Y Y=E+R$LJ[<[% 4 XY^8UGZ\:Z>U7QSK!N$0.\02QWJI) )'V?(!(//L: M .EHKG_^$>U3_H<]<_[\V7_R/1_PCVJ?]#GKG_?FR_\ D>@ \/?\ASQ9_P!A M6/\ ](K6N@K@]"T+47UCQ.J^+-9C*:FBLRQ6>9#]DMSN;,!&<$#C PHXSDG< M_P"$>U3_ *'/7/\ OS9?_(] '05D'29F\3W&I&15@EL$M0%)WA@[L3TQC##O M5;_A'M4_Z'/7/^_-E_\ (]1C1;TW)MAXXUGSP@78[@I. MLM8O#ID_GK=Q2EI;IPC(I:/RU6+._<=K-R,#@YJ.VMQ>W\]A:_$74)[RW_UU MO$=/:2+G'S*+?(Y]:+:U-[>W%E:?$349[NVXG@B.GM)%SCYE%OE?QH U+X>( M0]K=6"V3NJND]C-<%(FR1M<2B)FR,8QMP=Q]!6+;>&-5TFYMM5T\6$^HEKHW M5O-(T43">02$+($8C8R@ E?F&2=I-6-1LVT>W%QJ?Q"U*Q@9@@EN?L$2EN3C M+6X&>#Q[5-_9%W]C^U_\)UJ_V;R_-\[98[-F,[MWV?&,P%:M<\F@:E(BNGC36V5AD,(K$@C_P'I?^ M$>U3_H<]<_[\V7_R/0 >._\ DGGB7_L%77_HIJZ"N#\::%J,/@7Q#*_BS69T M33+EFBDBLPK@1-\IVP X/3@@^A%;G_"/:I_T.>N?]^;+_P"1Z .@HKG_ /A' MM4_Z'/7/^_-E_P#(]'_"/:I_T.>N?]^;+_Y'H K2>&[E_#>KZ<\5A=/>7DUP ML5P7\MD>3<%++AD;'1AG:<$9Q69;^%==L+;4K_3?L=MK-VD5NGF7\UP(XE8E MF,\J,[N=QQN0JN%&" E5[2 M.._L)K^S^)%]U %[0+/5=+L);8Z/IMM@[U, M>IRSM.Y/S-([PJV['.X[B>G%1ZUIOB&_CU/389+&;3=1C,8FN)"DEHK)L8+& ML9$HZL-S*I7T*ML:2U^P2J&P#@E;F7L*: M==P6E]\1[^UN;@@0PSMIZ/)DX&U3!D\\<4 07OA/5!!J^DZ>]C_9.KE?.EF= MQ-;@QK'(%0*1)E4!!++@D]:[55"(J*,*HP!7&Z@UMI-TMKJ7Q-N[.X=0RQ7, MFG1N03@$!H <9!K3_P"$>U/_ *'/7/\ OS9?_(] '05S_B'_ )#GA/\ ["LG M_I%=4?\ "/:I_P!#GKG_ 'YLO_D>L/7="U%-8\,*WBS69"^INJLT5GF,_9+@ M[EQ !G (YR,,>,X( .\HKG_^$>U3_H<]<_[\V7_R/1_PCVJ?]#GKG_?FR_\ MD>@"WXCTR;5]%DLK=HUD:6%P9"0,)(KGH#V4T>(],FU?19+*W:-9&EA<&0D# M"2*YZ ]E-4)]%O;6(RW'CC68HP0"\D=BHR3@#)M^Y('XU3U-(]%,8U7XD7UA MYN?+^U/I\6_'7&Z 9QD?G0!:OM'U&U\0W>LZ1::==S7MM';S)>SM#L"%L%66 M-]P.[E<#[H.:5?#$A\%CPM)-&;?^S_LWVH9#!\8!$>,!1P1\W;'O5*[$%A%: MRWGQ*O;>.[&;9YGT]!,..4)@^;J.GJ*TO^$>U3_H<]<_[\V7_P CT 9EUX7U M7Q$;AM>:PMF_LV6PA^Q.TWS2%2TIWJN.47"0.792\A+*NW.Q0% ..?F-4(!!=6ES=V_P 2KV:VM<_:)HWT]DAQ MR=["#"_C3-/FL]7NOLVF_$^YO;C:6\JVETZ1\#J<+ 3B@#M:*Y__ (1[5/\ MH<]<_P"_-E_\CT?\(]JG_0YZY_WYLO\ Y'H /#W_ "'/%G_85C_](K6N@K@] M"T+47UCQ.J^+-9C*:FBLRQ6>9#]DMSN;,!&<$#C PHXSDG<_X1[5/^ASUS_O MS9?_ "/0!T%9!TVY7Q/<:K&83&]@ENB,Q!WJ[MSQT^8>_7BJW_"/:I_T.>N? M]^;+_P"1ZC&BWIN3;#QQK/GA YB\NQW!2< X^SYQD$9]J *GAW3?$EGJ'VO5 M[#2I[N<;;F_34I'=5ZA(HS J X^4,/4EFR3M)IDR^+)M5+1^0]BEN%R=VY7 M9B<8QC##O6-:P+?7T]C9_$;4+B\M\B:WA;3WDBP<'.:6VMQ>W\]A:_ M$74)[RW_ -=;Q'3VDBYQ\RBWR.?6@#4OAXA#VMU8+9.ZJZ3V,UP4B;)&UQ*( MF;(QC&W!W'T%8MMX8U72;FVU73Q83ZB6NC=6\TC11,)Y!(0L@1B-C* "5^89 M)VDT[4UBT5HUU7XDWM@TH)C%T^GQ%\=<;H!GJ*K27^F16T-S)\5I4@GW>5*U MQIH63:<-M/D8.#UQTH Z7PYI,FBZ-':SRI+<-))/.\:[5,DCL[8!YQEB!GL! M6K7+6&GS:K:+=:=X_P!4O+9B0)K<6$B$CKRMN15G_A'M4_Z'/7/^_-E_\CT M'CO_ ))YXE_[!5U_Z*:N@K@_&>A:C#X%\0RR>+-9G1-,N6:*2*S"R 1-\IVP M X/3@@^A%=Y0 5S_ ([_ .2>>)?^P5=?^BFKH*Y_QW_R3SQ+_P!@JZ_]%-0! M7\'/>)\._"_V2""4G2K7=YTQCQ^Z7IA6S^E,\67NM6WAF\E\FWMMNS]];WCE MU^=1P/+7Z=1UK.\%^+-.MO OAZ![;62\>F6R,8]%O'4D1*.&6(AA[@D'M6Y_ MPF6E_P#/KKG_ ((KW_XS2:,ZD')-)VN<;X%U?6KO6IX_M$E[BW9O+N[IPH^9 M>1PW//IW->C6\NIM,!_\ QFC_ M (3+2_\ GUUS_P $5[_\9H2L11HNG'EK8R=0FGU[0_"5GX;C_LVZ-F=1L9;F7>(1'&J> M5\P;>6$N-QZ#YN3@5N:CJ7A'6)HYM3\/7M[+$,1O<^&+J1D'7 +0'%2ZCKGA MK6+9;;4]%U*]@5@XBN?#=W(H8< X:$C/)_.F;G&:?KD6K>&O"QT"RCV66N+; M0Q75X,NPMY"Y=D5MIW,W12#@$8!&.^TC2]3/B*\UO5(;*VFFMH[58+.9I@55 MF;,*2!Z D5=_X M3+2_^?77/_!%>_\ QF@"MJ-@;[Q?++!XBNM/GMK!-T$%M&3L9V.[?*C*5)7! M"@$;1D\BL+0]1BUB^U+4]=BM8C<^'K:4I(?D\@^:92-W\!."?8KFM?4M7\*Z MP83JF@W]\823%]J\-7R&[N3RV]5W0G!X M'3TJ[_PF6E_\^NN?^"*]_P#C- !X[_Y)YXE_[!5U_P"BFKH*X/QIXLTZY\"^ M(8$MM9#R:9VBWUG);/)-&D@PS02M&X'LRD$?4$&L;_A,M+_Y]=<_\$5[_P#&:/\ A,M+ M_P"?77/_ 17O_QF@#CQ8VNG^!Y[*.-(],A\1B.9'8E1"+M<[B>HZ9)]\T_Q M0(SXBUH#R?[/,ND?VADX7/GMNW_\ \O.?X<=JZ8>)=!$$T TO5A#.6,L?_"/ M7FV0M][VGV>B:C;V3[@UM#X;NTC;=URHAQSWH FTO M;_PL+Q#Y&SROLEIY^S_GM^]Z_P"UL\OWQMKF]8$']A?$0W'E?;?/&S&[MI(_]UC#D=3TJ[_PF6E_\^NN?^"*]_P#C- '05S_B'_D.>$_^PK)_Z175 M'_"9:7_SZZY_X(KW_P",UAZ[XLTZ76/##K;:R!%J;NV[1;Q21]DN%^4&++'+ M#@9.,GH"0 =Y17/_ /"9:7_SZZY_X(KW_P",T?\ "9:7_P ^NN?^"*]_^,T M9_Q!TBUO-(CO[CSGEM;BW,*>U7I_%6BW41BN-/UF6,D$I)X?O6&0<@X,/8@' M\*K7^M>&-5:%M1T34;PP-OA-QX;NY/+;U7="<'@=/2@#FM$^V6$%O>7EA'J@ MN?#EK%.IN(E>S50V3*LC B)PX\-7E6 M_P#A*M%^T_:/[/UCS]GE^;_PC][NVYSMSY.<9YQ0!FQWEYX3EM+)+N\URV;3 M9;A8E@CWIY0C"")8D&5;?C!W'@8/!SF^#;N%_B'JQ87S7EUIUO+<23V$\ ,@ M>7('F(NU0"JKGJ%[D&MG3=7\*Z-YO]EZ#?V/FD&3[+X:NXMY'3.V$9ZG\ZM+ MXIT1;I[I=.U@7#H$>4>'[S>R@D@$^3D@$GCW- '2T5S_ /PF6E_\^NN?^"*] M_P#C-'_"9:7_ ,^NN?\ @BO?_C- !X>_Y#GBS_L*Q_\ I%:UT%<'H7BS3HM8 M\3NUMK)$NIHZ[=%O&('V2W7Y@(LJ#@XP>A!.Y_P )EI?_ #ZZY_X(KW_X MS0!T%<;I6DVFD?$'4C!Y[O/ID4L\LLSRR2-YCC.22>@ & .P%:7_"9:7_SZ MZY_X(KW_ .,U&/%6BBY-R-/UGSR@0R_\(_>[BH.0,^3G&23CWH P)XHK:Y\, MWFC20RZ6ZRPZ;!%%(DJ-)"S&21F)+CY3E2%(+9))&*CT86PT[X<"R\GS\-NV MGYMGV=_.SW_UFW=_M8SS6S;:QX6L]0GU"UT+4(+V?/G7,7AJ[623)R=S"')Y M]:6VUKPQ97MQ>VFB:C!=W/,\\7AN[627G/S,((XY[GQIH$5C-!;7\ M=O=2Q3W2&6+;^[5E$8*EFY!R'7: >H.*Q#IFGZS\);F.5+@P6,5X%C%P1'*\ M;/\ .=FT.FY@7UQ9QMO2WF\,W;QJW/(4P8!Y/Y MFK0\3Z$++[$--U<6HC\KR!X>O-FS&-NWR<8QQB@#;TO_ )!%E_UP3_T$5;KG MD\7Z3&BHEGK:JHP%&@WH '_?FE_X3+2_^?77/_!%>_\ QF@ \=_\D\\2_P#8 M*NO_ $4U=!7!^-/%FG7/@7Q# EMK(>33+E%,FBWB*"8F'+-$ H]R0!WK<_X3 M+2_^?77/_!%>_P#QF@#H*@O;1;ZSDMGDFC2089H)6C<#V92"/J"#6-_PF6E_ M\^NN?^"*]_\ C-'_ F6E_\ /KKG_@BO?_C- &#HMCH.G>#M2M=0A"Z5::O, M4AR[99)\QK@?,Y+!?EYW'C!S5B;3[60ZGXB\46PM;:Y%LJ6/+/B&0M%YFPG? M(SL/D&X=%^:K%SK/A>]LY+.ZT/4)[660RR0R^&KMD=R/PC*D,VWS8U\)W(5\'(W#R,'!Z9H VM#L+R36=0U^^MQ9R7L44$=IP72 M.,L0TA&07)<\ D #)KE[B74[=_&U])_9+V5ODR67ABYMDF $JP^%KI!( M:#?W-W;D&&>;PU=O)'@Y&UC#D8//% %&^>6!O$?B.QUZXAEM(4D?3VM45%*0 MAUCD+H793NSF,K]X@ZA#J%WH-_/ M>P8\FYE\-7;21X.1M8PY&"2>*O\ _"9:7_SZZY_X(KW_ .,T =!7/^(?^0YX M3_["LG_I%=4?\)EI?_/KKG_@BO?_ (S6'KOBS3I=8\,.MMK($6IN[;M%O%)' MV2X7Y08LL@) !WE%<_\ \)EI?_/KKG_@BO?_ (S1_P )EI?_ #ZZ MY_X(KW_XS0!G_$'2+6\TB._N/.>6UN+VL$W006T9.QG8[M\J,I4E<$* 1M&3R*EG\5:+=1&*XT_698 MR02DGA^]89!R#@P]B ?PJIJ6K^%=8,)U30;^^,))B^U>&KN783C.W="<=!T] M* .>BN;WQ-=M?K)9V%U+X=B:\%RID26*1I"?+4X*#@Y>]3:CJWA76#"=3T&_OO)),7VGPU=R^63C M.W="<=!T]*M_\)5HOVC[1_9^L>?L\OS/^$?O=VW.=N?)SC/.* *L(M1X^T@: M;Y'DC1)/,\G&/*\R+R>G;_6;>WWL5-X74:K?ZCXDF 9KB9[2S[^7;Q,5X_WW M#.?7Y?[HJ+3]:\,:0LJZ;HFHV0E;?(+;PW=Q[V]3MA&35F#Q5HMK"L-OI^LP MQ+]U(_#]ZJCOP!#0!TE%<_\ \)EI?_/KKG_@BO?_ (S1_P )EI?_ #ZZY_X( MKW_XS0 >'O\ D.>+/^PK'_Z16M=!7!Z%XLTZ+6/$[M;:R1+J:.NW1;QB!]DM MU^8"+*G*G@X.,'H03N?\)EI?_/KKG_@BO?\ XS0!T%<9IFE6FC>/]3>W6>22 M;3(YII)96EDD;S''5B>P & .P%:?_"9:7_SZZY_X(KW_P",U&/%6BBY-R-/ MUGSR@0R_\(_>[BH.0,^3G&23CWH Y+PTILHO!D\LL4UE<+,MC#;\S0!XV=O, M:;)%+HKL\-A!%$Z2IYD3,TCLQ)YP:%\1>'UAAA72 MM5$4+[XD'AV\VQMSRH\G@\GD>M22^*M%N/+\[3]9D\MQ(F_P_>G:PZ,,P\'W MH V-*TRVT;2[;3K1-L$"!%SU;U8GN2_ M_&:/^$RTO_GUUS_P17O_ ,9H /'?_)//$O\ V"KK_P!%-705P?C/Q9IUSX%\ M0P1VVLAY=,N44R:+>(H)B8N\H *Y_QW_R3SQ+_P!@JZ_]%-70 M5S_CO_DGGB7_ +!5U_Z*:@ \"?\ )//#7_8*M?\ T4M;D\\5K;R7$\BQPQ*7 M=W. J@9))],5RWA71]+U?X=>%EU/3;.]6/2K8H+F!9-N8DSC<#CI4^H_#_PM MJ&FW-HN@Z9;--&R">"SC5XR1PRD#@BMZ2H-KVC:[V2_S$[]"7P[XX\.^*KF> MWTC4%GFA&YD*,A*YQN 8#(_ED>M=#7E/@SX+66@:I/>:S-:ZLFTI#!);@H,_ MQ,&SS_*O0K+PSH.FW2W5AHFFVMPH(66"TC1QG@X(&:ZL?2P-.JXX6>(]0U[5[33;W2K6"Q>-$6YL))FU.:S\1Z?KVKW>FV6E74%\\;HU MS?R0LA6,)@JL+@\C/6LVZ\(Z['H$NCVE[9SP:C#<)J#S9B*RS.6::,!6+8W, M A('"_-UKSBRQXF\57.DZAH=L-4T?2H;^":66ZU*,L@9!'A5_>Q]=YZD]*6[ M\47%CX(O=;BU?1]7\B0 W=C"1!"F5#,RB5RY0$L0&!(XXZU;UG2=6&NZ+J>D M0V5P+"WG@>*[N7@W"3R\$,L;]-A[#K4>IZ9KFLP6-S=6&E)=Z?>"XBM#>R2P M3C8R_,YA4HP+;@=CWDC+1L^X%I7# ;>1@<'. M>,'(TKP'J]CI/B:T>33E75[.2&VBCDD*V6?,V0@D?-&/,)R%4@D@+C&.LT3P MKHFAI#+9:-IMK>+"(Y)[:U1&;@9^8 $@D4 ;5%%% '/^._\ DGGB7_L%77_H MIJZ"N?\ '?\ R3SQ+_V"KK_T4U=!0 5!>WD-A9R75QO\J,9;RXVD8]L!5!)/ ML 34]% '*V_C47'A>?63I5U%(MV;.&SD(65Y#((T#?W"21D<[>>N*)?%\]C! MJ$6HZ4(]4M6@5+:VN/-21C-6;P_J3Z!>(ENAO(M:; M4K>)Y !*JSB0#<,@%E! ST)&:K7VAZMK-U?ZX=,-I=*]DUI97$Z;Y!;R-(VX MH612V\J.3T!.,X !TNCZQZ=J-E'9W]H(W=(9_.C>-\[65RJGJK @J,$ M=Q@UG:EXNN+*XU*2#2A/IFDLJWUR;C8ZDJ&;RTVD.%5E)RR]P,D4_2X=0;6] M4\076DW%LT\$%K!9M+$TQ5"Y+-M6FTAPJLI.67N!DBNJ!! (Z&N"U+0]6BM?$6AV6F&>UUM]T=Z)T5+.@)K)\3MK-YJ8T\:+J5SH?E S-8 M36ZOWXT_RWN+L>;;R MR;<;7!;>P/^U:\71Q9V5MYTRZ;JGVR:-L9".@C4*W4 M?>/(Q[UHZ9X@OY-5@TS6M*BT^YNK=KBV\FZ^T*P4J'1CL7:Z[EX&0<\'BLJY MTR]\0S*]SX=DL[6WTVXM&L[JYC1;DR!,(IA9]J#8>2 1E<#K3/#F@ZF_B&TU M341JZ)86DEO$-5GMY)6+E.!Y'R[0$^\WSL3SP.0#N:*** .?\/?\ASQ9_P!A M6/\ ](K6N@KG_#W_ "'/%G_85C_](K6N@H *Y[3/%<.K:_>Z;!97:0VMNLPN M9HFC$V6(.Q6 )48^]T/;/6NAK$^Q7INT=J?M!:X1MC.HEA*#82J-PK,0< ^H6S\4:DUY MIG]I:&+&SU21H[5FN2UPC;&=1-$479E5;.&;!P#ZBAHK:S/JB:GKGAG5#J.U MEB8RVAM[-2/NQ@3%B3@ N1D_[*_*':#_ &O=:S#J.O\ AS4UOR&2.1I;4VUB MAZJ@68L2< %]I8^BK\H -W5M8N+6_M=-TZSBN]0N(WF5)YC#&L:%0S,X1R.6 M4 ;3G/:J-WXDU2W?2;%=%A75[\R_N+B]"0H(A\Q\U48MG*E1M!(.2%P15/Q# MH8U/5[#6;OP])JL$=M+;2Z8YA+ LZLKE7<1L!M/5N,@CGIF#PYJ$-IIG]H:$ M=5TN,W.=$$L3_9@[AHH6.@0PZDQ^T;Y'$9D\PPHSEDC+?Q%5(7/MP2*V M: .?\=_\D\\2_P#8*NO_ $4U=!7/^._^2>>)?^P5=?\ HIJZ"@ HHHH Y34? M%]U:S:K-:Z2MSI>D$+?7!N=D@(4._EQ["'VJP)RRY.0,XI=?\2:YI$2W-IH^ MFWMM/+'%:#^TGCFG9\8 3R"H[G[V 22*Q_$OAO4K^_UFTL+/4H(-60)-)#= MP?8Y24V&256_?(P (BX8*N3R<="^CSR>*=)D:,MIVF6G-5=(@OKKQ%>ZU=6,^G12VL5LEM<21M(Q1G8N?+=E ^< RVW$D/DS\2#8V,L/X2?3MTK8K&\-V-S86^H+3QT!-9NHVVJZ9XBU'4=.TE]134;..'$<\<9AEC+X+ M[V'R$..5W$;3\IS0!/K7C*RTKP:/$<44ES'+;B>VMP=KRY3?COC"@DGG !ZU MKW>I16.B3ZI,CF*"W:X=(QN;:%W$#U/%<+JO@?7H_"36&G:A8S-#HO\ 9\=M M+:,S%MF'*2>:H4N0O+*<;1[UU5W:ZO<>%YM+BD\K4GL"BWL?[J-92N !AF=3 MWR,X['/% %/3/%T\WF#5;"WLR-.&I1FVN_M"F'ON.Q=K?0$'G!XI_A7Q/<>) M \A711$D:LZV&K?:Y(F/19%$2A3U_B/(_&L?3]#U!I[@Z=X=M]#M6T^6&:TO M3%)#>7#[=K.D3MN 8%V(9@^,&M;3X-0U#Q!I]_-H\^D6]A:2P&*:2(^:7,> M HB=AL78?O8/(P.M '44444 <_X>_P"0YXL_["L?_I%:UT%<_P"'O^0YXL_[ M"L?_ *16M=!0 5CZMK%Q:W]KING6<5WJ%Q&\RI/,88UC0J&9G".1RR@#:Z]9:M/HO]MVT5M);26'[LY+,K*^V5E1@-IZG(R"* -"YU37X= M+CO!H^GPLB.UVEYJ;1K%M/562)]RD G)VG&,@'(%CP[JE[K/A^VU*\TY;&:X M0R);^<9,*?NDL54C(P<$9&>>:Y[_ (1_4Y?!<&C-;>7#8 MLYP0$ 3:N0,X&0!79-(R311K [(V M9E4C*M)$4 4'_99B,CCJ0W3M&N'N_$5U?)Y3$VX,1;J@5,8ZB0V_A[^S[K3\)?:N)(B+V-8RA0%6,CAFVD"10%"^JJ* /0Z*** M .?\=_\ )//$O_8*NO\ T4U=!7/^._\ DGGB7_L%77_HIJZ"@ KG_'?_ "3S MQ+_V"KK_ -%-705S_CO_ ))YXE_[!5U_Z*:@##\%VOBIO OAYK?6=&C@.F6Q MC2329795\I< L+D G'? SZ"MS['XP_Z#NA_^":;_ .2J/ G_ "3SPU_V"K7_ M -%+704 <_\ 8_&'_0=T/_P33?\ R51]C\8?]!W0_P#P33?_ "57044 <_\ M8_&'_0=T/_P33?\ R51]C\8?]!W0_P#P33?_ "57044 <_\ 8_&'_0=T/_P3 M3?\ R51]C\8?]!W0_P#P33?_ "57044 <_\ 8_&'_0=T/_P33?\ R51]C\8? M]!W0_P#P33?_ "57044 <_\ 8_&'_0=T/_P33?\ R51]C\8?]!W0_P#P33?_ M "57044 2WD:/1Y0P5U*DC-R1G!]#5S['XP_Z M#NA_^":;_P"2JZ"B@#G_ +'XP_Z#NA_^":;_ .2J/L?C#_H.Z'_X)IO_ )*K MH** .?\ L?C#_H.Z'_X)IO\ Y*H^Q^,/^@[H?_@FF_\ DJN@HH Y_P"Q^,/^ M@[H?_@FF_P#DJC['XP_Z#NA_^":;_P"2JZ"B@#G_ +'XP_Z#NA_^":;_ .2J M/L?C#_H.Z'_X)IO_ )*KH** .?\ L?C#_H.Z'_X)IO\ Y*JG>Z#XJOKK3KB7 M7]&#V%P;B(+H\N"QBDBPW^D]-LC'C'('T/644 <_]C\8?]!W0_\ P33?_)5' MV/QA_P!!W0__ 33?_)5=!10!S_V/QA_T'=#_P#!--_\E4?8_&'_ $'=#_\ M!--_\E5T%% '/_8_&'_0=T/_ ,$TW_R51]C\8?\ 0=T/_P $TW_R57044 <_ M]C\8?]!W0_\ P33?_)5'V/QA_P!!W0__ 33?_)5=!10!S_V/QA_T'=#_P#! M--_\E4?8_&'_ $'=#_\ !--_\E5T%% ')V6@^*K&ZU&XBU_1B]_<"XE#:/+@ M,(HXL+_I/3;&IYSR3]!<^Q^,/^@[H?\ X)IO_DJN@HH Y_['XP_Z#NA_^":; M_P"2J/L?C#_H.Z'_ .":;_Y*KH** .?^Q^,/^@[H?_@FF_\ DJC['XP_Z#NA M_P#@FF_^2JZ"B@#G_L?C#_H.Z'_X)IO_ )*H^Q^,/^@[H?\ X)IO_DJN@HH MY_['XP_Z#NA_^":;_P"2J/L?C#_H.Z'_ .":;_Y*KH** .3U;0?%6LZ-?:7< M:_HRP7MO);R-'H\H8*ZE21FY(S@^AJY]C\8?]!W0_P#P33?_ "57044 <_\ M8_&'_0=T/_P33?\ R51]C\8?]!W0_P#P33?_ "57044 <_\ 8_&'_0=T/_P3 M3?\ R51]C\8?]!W0_P#P33?_ "57044 <_\ 8_&'_0=T/_P33?\ R51]C\8? M]!W0_P#P33?_ "57044 <_\ 8_&'_0=T/_P33?\ R51]C\8?]!W0_P#P33?_ M "57044 <_\ 8_&'_0=T/_P33?\ R55.]T'Q5?76G7$NOZ,'L+@W$071Y<%C M%)%AO])Z;9&/&.0/H>LHH Y_['XP_P"@[H?_ ()IO_DJC['XP_Z#NA_^":;_ M .2JZ"B@#G_L?C#_ *#NA_\ @FF_^2J/L?C#_H.Z'_X)IO\ Y*KH** .?^Q^ M,/\ H.Z'_P"":;_Y*H^Q^,/^@[H?_@FF_P#DJN@HH Y_['XP_P"@[H?_ ()I MO_DJC['XP_Z#NA_^":;_ .2JZ"B@#G_L?C#_ *#NA_\ @FF_^2J/L?C#_H.Z M'_X)IO\ Y*KH** .3LM!\56-UJ-Q%K^C%[^X%Q*&T>7 811Q87_2>FV-3SGD MGZ"Y]C\8?]!W0_\ P33?_)5=!10!S_V/QA_T'=#_ /!--_\ )5'V/QA_T'=# M_P#!--_\E5T%% '/_8_&'_0=T/\ \$TW_P E4?8_&'_0=T/_ ,$TW_R57044 M <_]C\8?]!W0_P#P33?_ "51]C\8?]!W0_\ P33?_)5=!10!S_V/QA_T'=#_ M /!--_\ )5'V/QA_T'=#_P#!--_\E5T%% ')ZMH7BG6='OM+N=?T98+RWDMY M&CT>4,%=2I()N2,X/H:ZRBB@ KG_ !W_ ,D\\2_]@JZ_]%-705S_ ([_ .2> M>)?^P5=?^BFH / G_)//#7_8*M?_ $4M=!7/^!/^2>>&O^P5:_\ HI:Z"@ H MHHH **** "BBB@ HHHH **** "BBB@ HHHH *YBUUSQ'J8N)M.T32FM8[J>V M1KC5)(W;RI7B)*K;L!DH2/F/&*Z>N?\ !O\ R [G_L*ZE_Z6S4 'VSQA_P! M+0__ CEN45A]03FJMSXP\/6UM)-_;-C-L7/EP7 M".[^RJ#DFH=2"W:-XX6O*W+!N_D_\B+[9XP_Z 6A_P#@YF_^1:/MGC#_ * 6 MA_\ @YF_^1:L+XK\.NBL-=TP C.#=H#^1/%7++5M-U(N+#4+6Z*#+""97Q]< M&FIQ>S%+#UH*\H-+S3_R,O[9XP_Z 6A_^#F;_P"1:/MGC#_H!:'_ .#F;_Y% MK&T/Q5JVLW$01B9028S)MV;\ G;G)&".HJC$9]L\8?] +0__!S-_P#(M'VS MQA_T M#_ /!S-_\ (M0CQSH5M9V[W>HF5WM(KMY8+&;8(G!Q*0 WEH=I^\?E M[FF>(O&=II+_ &.UD\V_%S;0LIMY&B3S9$&&D V*^QBP4MGH<$'D L_;/&'_ M $ M#_\ !S-_\BT?;/&'_0"T/_P,/^@%H?_@YF_P#D6C[9XP_Z 6A_^#F;_P"1:L6?BG2+ZTO+ MF*XE1+./SIUGMI872/!(?8ZABI ." 0<''2G:1XFTG799(M/N6D=(UEVR0R1 M;XV)"R)O4;T.#AER/>@"K]L\8?\ 0"T/_P ',W_R+1]L\8?] +0__!S-_P#( MM=!10!S_ -L\8?\ 0"T/_P ',W_R+1]L\8?] +0__!S-_P#(M=!10!S_ -L\ M8?\ 0"T/_P ',W_R+1]L\8?] +0__!S-_P#(M=!5+5M3@T?3)K^X61HHL;A& M 6.2 ,9([F@3:2NS,^V>,/\ H!:'_P"#F;_Y%H^V>,/^@%H?_@YF_P#D6C0O M&&G^(+U[6TAN4D2,R$RJH& 0.S'U%=!0G<4)QFN:+NCG_MGC#_H!:'_X.9O_ M )%H^V>,/^@%H?\ X.9O_D6LW4_$NH#Q/=:/::GHNFSQ+']FM]2C9I+]F!.8 MR)$PN?DX#G(/'0%OBKQ9JFC6FEE(+6QN;R"1S'=QM< SJJE;5?+89=B6 89^ M[PK$B@HU/MGC#_H!:'_X.9O_ )%H^V>,/^@%H?\ X.9O_D6HM2U+6Y-ZT35=6Y_L^S3%Q"HW%!(_FL,E1_<7D^U68O$^I:7 M;ZT->CM)9]/T]-17[&C1JR,'S&=S-\P:-ANZ$$' H O_ &SQA_T M#_\',W_ M ,BT?;/&'_0"T/\ \',W_P BTF@:IJLNJ7>EZT+-KJ*WAND>T1D39)N&TAF8 MDJR-\V1D$<"NAH Y_P"V>,/^@%H?_@YF_P#D6C[9XP_Z 6A_^#F;_P"1:Z"B M@#G_ +9XP_Z 6A_^#F;_ .1:/MGC#_H!:'_X.9O_ )%KH** .?\ MGC#_H!: M'_X.9O\ Y%H^V>,/^@%H?_@YF_\ D6MR>>*UMY+B>18X8E+N[G 50,DD^F*P MO#OCCP[XJN9[?2-06>:$;F0HR$KG&X!@,C^61ZUK&C4G!U(Q;BMW;1>HKK87 M[9XP_P"@%H?_ (.9O_D6C[9XP_Z 6A_^#F;_ .1:Z"N3_M#Q/J&IZXFF7.DQ MPZ=<""*"XLY&>8^3')S()0%R7QG8<=<'I60RY]L\8?\ 0"T/_P ',W_R+1]L M\8?] +0__!S-_P#(M1S^)WD\)Z7K=G JF^FM$,4W.P2RHC#@CD!C^(K&O/&, M\?B#5[&7Q5X8T9+.X6**'482TKJ8D??G[0G&7(X7M0!N_;/&'_0"T/\ \',W M_P BT?;/&'_0"T/_ ,',W_R+67XI\5:AHEGI?V:YTYY+N"1UN7MY'BNI552D M,2H^0TF25.6^[@!B:OZEJ6MR:YI>F:=)8V+W-E-=3&[MFN"A1HAL 61/^>AY MR>E $OVSQA_T M#_ /!S-_\ (M'VSQA_T M#_P#!S-_\BU)X>U.^O)]4LM0: MUEN-/N!"UQ:HR1R;D5Q\A9BI 8 CS@DN)1%K$I>)?^P5=?^BFKH*Y_QW_R3SQ+_P!@JZ_]%-0 >!/^2>>& MO^P5:_\ HI:Z"N?\"?\ )//#7_8*M?\ T4M=!0 4444 %%%% !1110 4444 M%%%% !1110 4444 %<_X-_Y =S_V%=2_]+9JZ"N/TB[U?1+:ZLG\*ZK<_P#$ MPO)DFMYK38Z2W,DBD;YU;[KCJ!S0!V%%<_\ \)#JG_0F:Y_W^LO_ )(H_P"$ MAU3_ *$S7/\ O]9?_)% '045S_\ PD.J?]"9KG_?ZR_^2*/^$AU3_H3-<_[_ M %E_\D4 17OP_P#"^HWLUY=:6'GF' MI334HK4[Z6:XVE;EJRTZ-MKML]#&TWX6:!!;LNIP)?7#2%O-0R0C![;0Y'K6 M[H_A#0] GEGTJR^S3R1^6T@D=SMSGC<2.H'Y5'_PD.J?]"9KG_?ZR_\ DBC_ M (2'5/\ H3-<_P"_UE_\D4X4*<+*L:AX M7UIY;ZULFL&L;W4+:_>6:5Q+&T;1%D"A2""(LAMPQG&.]:W_ D.J?\ 0F:Y M_P!_K+_Y(H_X2'5/^A,US_O]9?\ R10!D:KX-O;V>]NHY(VE.JK?P1+>2VV] M?LRPE6EC&]#]XY7/0 ]3BK/X$OY+&WMH39PK+97UK=_Z1-*8S<,K[U:3 M5IRVD$=K(S[P2K,[[E7:3M7"C=CGYCFK7_"0ZI_T)FN?]_K+_P"2*/\ A(=4 M_P"A,US_ +_67_R10!T%%<__ ,)#JG_0F:Y_W^LO_DBC_A(=4_Z$S7/^_P!9 M?_)% '045S__ D.J?\ 0F:Y_P!_K+_Y(H_X2'5/^A,US_O]9?\ R10!L75A M9WP47=I!]-_ MX2'5/^A,US_O]9?_ "11_P )#JG_ $)FN?\ ?ZR_^2*+$2IPDK21G:%\/[72 M;UY[N>'4(VC*"*6V& <@[N2>>,?C711:)I,$JRQ:791R(,85]X O6MX+6/[%J*+IT- MDEQ=RO#-9/&21+"55CDDJ=N5/[MW1_P#"0ZI_T)FN?]_K+_Y(H_X2'5/^ MA,US_O\ 67_R13-3&L? ]Q=7&EGQ2NGZTMC!=1/)%-1U:W-KJD6G6$$6FSZ="--=BCB4(" M^QD7RP/+!" OUZ\-@R21V<:LI'0@@9!K+&G^)K# M5-;;3K?27@U&Y$\=Q/=R*\/[F./F(1$-@IG&\9Z9'6KG_"0ZI_T)FN?]_K+_ M .2*/^$AU3_H3-<_[_67_P D5QSJ3J.\Y-^K;_-LM)(R(O"NMV]M9:&+NTGT M6VFM9DN)&*W$?D[&*! FUMSIG<7!&\\' J[%9^)-+UC69K"PTJ[MK^Z6X1I] M0DA=<11H05$#CJFXNKC2SXI73]:6Q@NHGDN4,QF:21&238X(0[58%0<+G"\=-G_A(=4_Z$S7/ M^_UE_P#)%'_"0ZI_T)FN?]_K+_Y(H U['3[+2[1;33[.WM+9"2L-O$L:+DY. M% ZU9KG_P#A(=4_Z$S7/^_UE_\ )%'_ D.J?\ 0F:Y_P!_K+_Y(H Z"BN? M_P"$AU3_ *$S7/\ O]9?_)%'_"0ZI_T)FN?]_K+_ .2* #QW_P D\\2_]@JZ M_P#135T%<7XDO]:UGPMJ^EV_@_64GO;*:WC:2>R"AG0J"<7!.,GL#7:4 %%% M% !1110 4444 %%%% !1110 5S_CO_DGGB7_ +!5U_Z*:N@KG_'?_)//$O\ MV"KK_P!%-0!\ZZ7\>_%.BZ39:5;6&C/!90);1M)#*6*HH4$D2 9P/05;_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ M_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"& MCO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ M-_\ ':** #_AH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_A MH[QA_P! W0_^_$W_ ,=H_P"&CO&'_0-T/_OQ-_\ ':** #_AH[QA_P! W0_^ K_$W_ ,=JIJGQ[\4ZUI-[I5S8:,D%[ ]M(T<,H8*ZE203(1G!]#110!__V0$! end EX-101.INS 7 spnd-20201231.xml XBRL INSTANCE FILE 0000867038 2013-01-01 2013-12-31 0000867038 2013-12-31 0000867038 2014-12-31 0000867038 2012-01-01 2012-12-31 0000867038 2020-06-30 0000867038 2011-01-01 2011-12-31 0000867038 2011-12-31 0000867038 2010-12-31 0000867038 us-gaap:TradeAccountsReceivableMember 2019-12-31 0000867038 us-gaap:AccruedIncomeReceivableMember 2019-12-31 0000867038 SPND:GiantMember 2008-09-29 2008-10-01 0000867038 SPND:NRGMember 2008-09-29 2008-10-01 0000867038 SPND:PevelerMember 2008-09-29 2008-10-01 0000867038 SPND:MRVMember 2008-09-29 2008-10-01 0000867038 SPND:ReserveMember 2008-09-29 2008-10-01 0000867038 SPND:SingleWellBondsMember 2020-12-31 0000867038 SPND:SingleWellBondsAdditionalMember 2020-12-31 0000867038 us-gaap:LetterOfCreditMember 2020-12-31 0000867038 SPND:SunocoPartnersMarketingMember 2019-01-01 2019-12-31 0000867038 SPND:SunocoPartnersMarketingMember 2018-01-01 2018-12-31 0000867038 SPND:EnervestOperatingLLCMember 2019-01-01 2019-12-31 0000867038 SPND:EnervestOperatingLLCMember 2018-01-01 2018-12-31 0000867038 SPND:EnlinkGasMarketingLTDMember 2019-01-01 2019-12-31 0000867038 SPND:EnlinkGasMarketingLTDMember 2018-01-01 2018-12-31 0000867038 SPND:LPCCrudeOilMarketingLLCMember 2019-01-01 2019-12-31 0000867038 SPND:LPCCrudeOilMarketingLLCMember 2018-01-01 2018-12-31 0000867038 us-gaap:OilAndGasPropertiesMember 2020-01-01 2020-12-31 0000867038 us-gaap:OilAndGasPropertiesMember 2019-01-01 2019-12-31 0000867038 us-gaap:GasGatheringAndProcessingEquipmentMember 2019-01-01 2019-12-31 0000867038 srt:NaturalGasReservesMember 2020-01-01 2020-12-31 0000867038 srt:NaturalGasReservesMember 2019-01-01 2019-12-31 0000867038 srt:NaturalGasReservesMember 2018-01-01 2018-12-31 0000867038 us-gaap:RealEstateInvestmentMember 2020-01-01 2020-12-31 0000867038 us-gaap:RealEstateInvestmentMember 2019-01-01 2019-12-31 0000867038 us-gaap:RealEstateInvestmentMember 2018-01-01 2018-12-31 0000867038 SPND:SubtotalMember 2020-01-01 2020-12-31 0000867038 SPND:SubtotalMember 2019-01-01 2019-12-31 0000867038 SPND:SubtotalMember 2018-01-01 2018-12-31 0000867038 us-gaap:CorporateAndOtherMember 2020-01-01 2020-12-31 0000867038 us-gaap:CorporateAndOtherMember 2019-01-01 2019-12-31 0000867038 us-gaap:CorporateAndOtherMember 2018-01-01 2018-12-31 0000867038 us-gaap:OilAndGasPropertiesMember 2020-12-31 0000867038 us-gaap:OilAndGasPropertiesMember 2019-12-31 0000867038 us-gaap:OilAndGasPropertiesMember 2018-12-31 0000867038 srt:NaturalGasReservesMember 2020-12-31 0000867038 srt:NaturalGasReservesMember 2019-12-31 0000867038 srt:NaturalGasReservesMember 2018-12-31 0000867038 us-gaap:CommercialRealEstateMember 2020-12-31 0000867038 us-gaap:CommercialRealEstateMember 2019-12-31 0000867038 us-gaap:CommercialRealEstateMember 2018-12-31 0000867038 SPND:SubtotalMember 2020-12-31 0000867038 SPND:SubtotalMember 2019-12-31 0000867038 SPND:SubtotalMember 2018-12-31 0000867038 us-gaap:CorporateAndOtherMember 2020-12-31 0000867038 us-gaap:CorporateAndOtherMember 2019-12-31 0000867038 us-gaap:CorporateAndOtherMember 2018-12-31 0000867038 srt:CrudeOilMember 2019-01-01 2019-12-31 0000867038 srt:CrudeOilMember 2017-12-31 0000867038 srt:CrudeOilMember 2019-12-31 0000867038 2014-01-01 2014-12-31 0000867038 2012-12-31 0000867038 us-gaap:GasGatheringAndProcessingEquipmentMember 2018-01-01 2018-12-31 0000867038 us-gaap:OilAndGasPropertiesMember 2018-01-01 2018-12-31 0000867038 2006-01-01 2006-12-31 0000867038 2007-01-01 2007-12-31 0000867038 2009-01-01 2009-12-31 0000867038 2010-01-01 2010-12-31 0000867038 2005-12-31 0000867038 2006-12-31 0000867038 2007-12-31 0000867038 2008-12-31 0000867038 2009-12-31 0000867038 2015-01-01 2015-12-31 0000867038 2016-12-31 0000867038 SPND:OxyUsaIncMember 2019-01-01 2019-12-31 0000867038 SPND:OxyUsaIncMember 2018-01-01 2018-12-31 0000867038 SPND:ValeroEnergyCorporationMember 2019-01-01 2019-12-31 0000867038 SPND:ValeroEnergyCorporationMember 2018-01-01 2018-12-31 0000867038 SPND:Phillps66Member 2019-01-01 2019-12-31 0000867038 SPND:Phillps66Member 2018-01-01 2018-12-31 0000867038 SPND:Phillps66Member 2020-01-01 2020-12-31 0000867038 SPND:DCPMidstreamLPMember 2019-01-01 2019-12-31 0000867038 SPND:DCPMidstreamLPMember 2018-01-01 2018-12-31 0000867038 SPND:NaturalGasMcfMember 2019-01-01 2019-12-31 0000867038 SPND:NaturalGasMcfMember 2019-12-31 0000867038 SPND:NaturalGasMcfMember 2017-12-31 0000867038 2017-01-01 2017-12-31 0000867038 2017-12-31 0000867038 us-gaap:CommonStockMember 2017-12-31 0000867038 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000867038 us-gaap:TreasuryStockMember 2017-12-31 0000867038 us-gaap:RetainedEarningsMember 2017-12-31 0000867038 SPND:LetterOfCreditAdditionalMember 2020-12-31 0000867038 us-gaap:LetterOfCreditMember srt:MinimumMember 2020-12-31 0000867038 us-gaap:LetterOfCreditMember srt:MaximumMember 2020-12-31 0000867038 SPND:TargaMidstreamServicesLLCMember 2020-01-01 2020-12-31 0000867038 SPND:TargaMidstreamServicesLLCMember 2019-01-01 2019-12-31 0000867038 SPND:TargaMidstreamServicesLLCMember 2018-01-01 2018-12-31 0000867038 SPND:ETXEnergyLLCformerlyNewGulfResourcesMember 2020-01-01 2020-12-31 0000867038 SPND:ETXEnergyLLCformerlyNewGulfResourcesMember 2019-01-01 2019-12-31 0000867038 SPND:ETXEnergyLLCformerlyNewGulfResourcesMember 2018-01-01 2018-12-31 0000867038 SPND:SunocoPartnersMarketingMember 2020-01-01 2020-12-31 0000867038 SPND:EastexCrudeCompanyMember 2020-01-01 2020-12-31 0000867038 SPND:EastexCrudeCompanyMember 2019-01-01 2019-12-31 0000867038 SPND:EastexCrudeCompanyMember 2018-01-01 2018-12-31 0000867038 SPND:EnlinkGasMarketingLTDMember 2020-01-01 2020-12-31 0000867038 SPND:ShellTradingUSCompanyMember 2020-01-01 2020-12-31 0000867038 SPND:ShellTradingUSCompanyMember 2019-01-01 2019-12-31 0000867038 SPND:ShellTradingUSCompanyMember 2018-01-01 2018-12-31 0000867038 SPND:OxyUsaIncMember 2020-01-01 2020-12-31 0000867038 SPND:MidcoastEnergyPartnersLPMember 2020-01-01 2020-12-31 0000867038 SPND:MidcoastEnergyPartnersLPMember 2019-01-01 2019-12-31 0000867038 SPND:MidcoastEnergyPartnersLPMember 2018-01-01 2018-12-31 0000867038 SPND:PruetProductionCoMember 2020-01-01 2020-12-31 0000867038 SPND:PruetProductionCoMember 2019-01-01 2019-12-31 0000867038 SPND:PruetProductionCoMember 2018-01-01 2018-12-31 0000867038 SPND:LPCCrudeOilMarketingLLCMember 2020-01-01 2020-12-31 0000867038 SPND:DCPMidstreamLPMember 2020-01-01 2020-12-31 0000867038 SPND:ValeroEnergyCorporationMember 2020-01-01 2020-12-31 0000867038 SPND:EnervestOperatingLLCMember 2020-01-01 2020-12-31 0000867038 SPND:ETCTexasPipelineLtdMember 2020-01-01 2020-12-31 0000867038 SPND:ETCTexasPipelineLtdMember 2019-01-01 2019-12-31 0000867038 SPND:ETCTexasPipelineLtdMember 2018-01-01 2018-12-31 0000867038 SPND:OasisTransportationMarketingGroupMember 2020-01-01 2020-12-31 0000867038 SPND:SandridgeEnergyIncMember 2020-01-01 2020-12-31 0000867038 SPND:SandridgeEnergyIncMember 2019-01-01 2019-12-31 0000867038 SPND:SandridgeEnergyIncMember 2018-01-01 2018-12-31 0000867038 SPND:EmpirePipelineCorpMember 2020-01-01 2020-12-31 0000867038 SPND:EmpirePipelineCorpMember 2019-01-01 2019-12-31 0000867038 SPND:EmpirePipelineCorpMember 2018-01-01 2018-12-31 0000867038 SPND:XTOEnergyIncMember 2020-01-01 2020-12-31 0000867038 SPND:XTOEnergyIncMember 2019-01-01 2019-12-31 0000867038 SPND:XTOEnergyIncMember 2018-01-01 2018-12-31 0000867038 SPND:EnterpriseCrudeOilLLCMember 2020-01-01 2020-12-31 0000867038 SPND:EnterpriseCrudeOilLLCMember 2019-01-01 2019-12-31 0000867038 SPND:EnterpriseCrudeOilLLCMember 2018-01-01 2018-12-31 0000867038 SPND:RangeResourcesCorporationMember 2020-01-01 2020-12-31 0000867038 SPND:RangeResourcesCorporationMember 2019-01-01 2019-12-31 0000867038 SPND:RangeResourcesCorporationMember 2018-01-01 2018-12-31 0000867038 SPND:WebbEnergyResourcesIncMember 2020-01-01 2020-12-31 0000867038 SPND:WebbEnergyResourcesIncMember 2019-01-01 2019-12-31 0000867038 SPND:WebbEnergyResourcesIncMember 2018-01-01 2018-12-31 0000867038 2018-01-01 2018-12-31 0000867038 2021-04-15 0000867038 2018-12-31 0000867038 us-gaap:CommonStockMember 2018-12-31 0000867038 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000867038 us-gaap:TreasuryStockMember 2018-01-01 2018-12-31 0000867038 us-gaap:TreasuryStockMember 2018-12-31 0000867038 us-gaap:RetainedEarningsMember 2018-01-01 2018-12-31 0000867038 us-gaap:RetainedEarningsMember 2018-12-31 0000867038 us-gaap:TradeAccountsReceivableMember 2020-12-31 0000867038 SPND:NaturalGasMcfMember 2018-01-01 2018-12-31 0000867038 SPND:NaturalGasMcfMember 2018-12-31 0000867038 srt:CrudeOilMember 2018-01-01 2018-12-31 0000867038 srt:CrudeOilMember 2018-12-31 0000867038 us-gaap:AccruedIncomeReceivableMember 2020-12-31 0000867038 us-gaap:BankTimeDepositsMember 2020-12-31 0000867038 SPND:BankTimeDeposits2Member 2020-12-31 0000867038 SPND:BankTimeDeposits3Member 2020-12-31 0000867038 SPND:BankTimeDeposits4Member 2020-12-31 0000867038 us-gaap:CertificatesOfDepositMember 2020-01-01 2020-12-31 0000867038 SPND:AceGatheringIncMember 2020-01-01 2020-12-31 0000867038 SPND:AceGatheringIncMember 2018-01-01 2018-12-31 0000867038 SPND:AceGatheringIncMember 2019-01-01 2019-12-31 0000867038 SPND:BarnettGatheringLPMember 2020-01-01 2020-12-31 0000867038 SPND:BarnettGatheringLPMember 2018-01-01 2018-12-31 0000867038 SPND:BarnettGatheringLPMember 2019-01-01 2019-12-31 0000867038 2019-01-01 2019-12-31 0000867038 2019-12-31 0000867038 us-gaap:CommonStockMember 2019-12-31 0000867038 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000867038 us-gaap:TreasuryStockMember 2019-12-31 0000867038 us-gaap:RetainedEarningsMember 2019-01-01 2019-12-31 0000867038 us-gaap:RetainedEarningsMember 2019-12-31 0000867038 SPND:QualifiedIntermediaryMember 2020-12-31 0000867038 SPND:LandandNaturalResourcesDevelopmentMember 2019-01-01 2019-12-31 0000867038 SPND:LandandNaturalResourcesDevelopmentMember 2018-01-01 2018-12-31 0000867038 SPND:LandandNaturalResourcesDevelopmentMember 2020-01-01 2020-12-31 0000867038 SPND:DevonOEIOperatingIncMember 2019-01-01 2019-12-31 0000867038 SPND:DevonOEIOperatingIncMember 2018-01-01 2018-12-31 0000867038 SPND:FDLOperatingLLCMember 2018-01-01 2018-12-31 0000867038 SPND:FDLOperatingLLCMember 2019-01-01 2019-12-31 0000867038 SPND:FDLOperatingLLCMember 2020-01-01 2020-12-31 0000867038 2018-01-01 2018-03-31 0000867038 2018-04-01 2018-06-30 0000867038 2018-07-01 2018-09-30 0000867038 2018-10-01 2018-12-31 0000867038 2020-12-31 0000867038 2020-01-01 2020-12-31 0000867038 srt:CrudeOilMember 2020-01-01 2020-12-31 0000867038 srt:CrudeOilMember 2020-12-31 0000867038 SPND:NaturalGasMcfMember 2020-01-01 2020-12-31 0000867038 SPND:NaturalGasMcfMember 2020-12-31 0000867038 2019-01-01 2019-03-31 0000867038 2019-04-01 2019-06-30 0000867038 2019-07-01 2019-09-30 0000867038 us-gaap:CommonStockMember 2020-12-31 0000867038 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0000867038 us-gaap:TreasuryStockMember 2020-01-01 2020-12-31 0000867038 us-gaap:TreasuryStockMember 2020-12-31 0000867038 us-gaap:RetainedEarningsMember 2020-01-01 2020-12-31 0000867038 us-gaap:RetainedEarningsMember 2020-12-31 0000867038 SPND:BedrockProductionLLCMember 2020-01-01 2020-12-31 0000867038 SPND:BedrockProductionLLCMember 2019-01-01 2019-12-31 0000867038 SPND:BedrockProductionLLCMember 2018-01-01 2018-12-31 0000867038 SPND:PevelerPipelineLPMember 2020-01-01 2020-12-31 0000867038 SPND:PevelerPipelineLPMember 2019-01-01 2019-12-31 0000867038 SPND:PevelerPipelineLPMember 2018-01-01 2018-12-31 0000867038 SPND:HuntCrudeOilSupplyMember 2018-01-01 2018-12-31 0000867038 SPND:HuntCrudeOilSupplyMember 2019-01-01 2019-12-31 0000867038 SPND:HuntCrudeOilSupplyMember 2020-01-01 2020-12-31 0000867038 SPND:EnlinkCurdePurchasingLLCMember 2018-01-01 2018-12-31 0000867038 SPND:EnlinkCurdePurchasingLLCMember 2019-01-01 2019-12-31 0000867038 SPND:EnlinkCurdePurchasingLLCMember 2020-01-01 2020-12-31 0000867038 2019-10-01 2019-12-31 0000867038 SPND:OasisTransportationMarketingGroupMember 2019-01-01 2019-12-31 0000867038 SPND:OasisTransportationMarketingGroupMember 2018-01-01 2018-12-31 0000867038 us-gaap:TreasuryStockCommonMember 2018-01-01 2018-12-06 0000867038 us-gaap:TreasuryStockCommonMember 2018-12-06 0000867038 us-gaap:TreasuryStockCommonMember 2020-01-01 2020-04-06 0000867038 us-gaap:TreasuryStockCommonMember 2020-04-06 0000867038 us-gaap:TreasuryStockCommonMember 2020-06-20 0000867038 us-gaap:TreasuryStockCommonMember 2020-01-01 2020-06-20 0000867038 2020-01-01 2020-03-31 0000867038 2020-04-01 2020-06-30 0000867038 2020-07-01 2020-09-30 0000867038 2020-10-01 2020-12-31 0000867038 2008-01-01 2008-12-31 0000867038 2015-12-31 0000867038 2016-01-01 2016-12-31 0000867038 SPND:EagleRidgeOperatingIncMember 2020-01-01 2020-12-31 0000867038 SPND:EagleRidgeOperatingIncMember 2019-01-01 2019-12-31 0000867038 SPND:EagleRidgeOperatingIncMember 2018-01-01 2018-12-31 0000867038 SPND:EdinerEngineeringIncMember 2020-01-01 2020-12-31 0000867038 SPND:EdinerEngineeringIncMember 2019-01-01 2019-12-31 0000867038 SPND:EdinerEngineeringIncMember 2018-01-01 2018-12-31 0000867038 SPND:LionOilTradingandTransportationMember 2020-01-01 2020-12-31 0000867038 SPND:LionOilTradingandTransportationMember 2019-01-01 2019-12-31 0000867038 SPND:LionOilTradingandTransportationMember 2018-01-01 2018-12-31 0000867038 SPND:DevonOEIOperatingIncMember 2020-01-01 2020-12-31 0000867038 SPND:DoradoOilCompanyMember 2020-01-01 2020-12-31 0000867038 SPND:DoradoOilCompanyMember 2019-01-01 2019-12-31 0000867038 SPND:DoradoOilCompanyMember 2018-01-01 2018-12-31 0000867038 SPND:BPAmericaProductionCompanyMember 2020-01-01 2020-12-31 0000867038 SPND:BPAmericaProductionCompanyMember 2019-01-01 2019-12-31 0000867038 SPND:BPAmericaProductionCompanyMember 2018-01-01 2018-12-31 0000867038 SPND:CaminoMember 2019-01-01 2019-12-31 0000867038 SPND:CaminoMember 2020-01-01 2020-12-31 0000867038 SPND:CaminoMember 2018-01-01 2018-12-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure iso4217:USD utr:Mcf utr:bbl utr:Mcf 6755318 1709031 264000 -646000 305000 702000 -95000 -648000 -894000 21000 -123000 -186000 -358000 -272000 -422000 103000 -303000 0.04 -0.09 0.04 0.10 -0.01 -0.09 -0.13 -0.02 -0.03 -0.04 -0.04 -0.06 0.02 -0.05 1703000 2108000 3449000 6000 8000 10000 1265000 1276000 1323000 2974000 3392000 4782000 19696000 20506000 19616000 24398000 23898000 22670000 77000 943000 -1536000 17653000 77000 943000 -1806000 17917000 16485000 77000 943000 -1806000 17271000 15522000 77000 943000 -1874000 16376000 6734000 5587000 1631000 2063000 1479000 1561000 4179000 1395000 1487000 1340000 1365000 964000 548000 1135000 1532000 6367000 6336000 -1381000 -1574000 -1304000 -2108000 5413000 -1441000 -1714000 -1566000 -1615000 -1320000 -1055000 -1006000 -2032000 367000 -749000 250000 489000 175000 -547000 -1234000 -46000 -227000 -226000 -250000 -356000 -507000 129000 -500000 7677471 7677471 867869 7677471 867869 7677471 922153 1324000 1408000 1434000 110000 32000 -146000 -145000 129000 2826000 99000 2529000 3205000 250000 2628000 15000 15000 15229000 7480000 3190000 2613000 3263000 1474000 1786000 378000 35000 10000 295000 425000 25000 100000 393000 394000 2000 1000 439000 1000 2393000 2976000 34000 50000 2930000 10000 121000 230000 -172000 -58000 71000 80000 98000 -107000 23000 -28000 17000 137000 3157000 4946000 89000 125000 136000 272000 248000 232000 6106000 6474000 5319000 3518000 623000 1836000 79000 92000 86000 43000 22000 -11000 745000 1950000 3050000 1639000 -2596000 -2786000 2975000 264000 -646000 -894000 -66000 -17000 -98000 -43000 -4000 24000 -58000 -1000 61000 113000 -43000 60000 308940 228747 4519681 7173430 6849350 261500 144700 2912690 121400 325070 230 41919 916456 874812 43136 30900 743465 8446 -1514053 222642 -5634 -56008 -880867 780 6970 3020 1100 2861 17341 60 27530 15000 15000 15000 2268000 2268000 2268000 2268000 2268000 1986000 2196000 2230000 2268000 2268000 2268000 2268000 2268000 2268000 2312000 2268000 704000 756000 601000 501000 652000 49000 120000 204000 300000 400000 850000 897000 945000 992000 1047000 803000 52000 51000 100000 52000 71000 84000 100000 101000 47000 47000 48000 47000 55000 96000 47000 210000 34000 44000 38000 1298000 1624000 228747 4519681 6849350 261500 144700 2912690 <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">Carrying amount of asset retirement obligation</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,408,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,324,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Liabilities added</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">32,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">110,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Liabilities divested or settled</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(145,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Current period accretion expenses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">139,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">120,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Carrying amount as of December 31,</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,434,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,408,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">3. ACCOUNTS RECEIVABLE</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 1in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="7" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; padding-left: 5.4pt">Trade</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">99,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">129,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Accrued receivable</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,529,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,826,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Qualified Intermediary</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">250,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,628,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,205,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Less: Allowance for losses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(15,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(15,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,613,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,190,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Receivable from Qualified Intermediary is funds on deposit related to sale proceeds for which the Company is pursuing treatment under IRC Section 1031- Like Kind Exchange. These funds are released as the 180-day replacement period expires.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Accrued receivables are receivables from purchasers of oil and gas. These revenues are booked from check stub detail after receipt of the check for sales of oil and natural gas products. These payments are for sales of oil and natural gas produced in the reporting period, but for which payment has not yet been received until after the closing date of the reporting period. Therefore, these sales are accrued as receivables as of the balance sheet date. Revenues for oil and natural gas production that has been sold but for which payment has not yet been received is accrued in the period sold.</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="7" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; padding-left: 5.4pt">Trade</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">99,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">129,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Accrued receivable</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,529,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,826,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Qualified Intermediary</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">250,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,628,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,205,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Less: Allowance for losses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(15,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(15,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,613,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,190,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">4. ACCOUNTS PAYABLE</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 1in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="7" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">Trade payables</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,427,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,271,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Production proceeds payable</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,914,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,341,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Prepaid drilling costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">373,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">393,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,714,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,005,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="7" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">Trade payables</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,427,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">2,271,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Production proceeds payable</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,914,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,341,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Prepaid drilling costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">373,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">393,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,714,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,005,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">6. RELATED PARTY TRANSACTIONS</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On October 1, 2008, Giant entered into an Administrative Services Agreement with the Company whereby Giant pays the Company $250 per month for the Company providing administrative services to Giant. On October 1, 2008, the Company entered into a similar agreement with Giant NRG, LP (&#8220;NRG&#8221;) a limited partnership with Chris Mazzini and Michelle Mazzini as limited partners. Under this agreement NRG pays a monthly fee of $<font style="color: #000000">1,500 </font>to the Company in exchange for the Company providing certain administrative services to NRG. The Company has entered into a similar arrangement with Peveler Pipeline, LP (&#34;Peveler&#34;), whereby Peveler pays the Company a monthly charge of $250 in exchange for the Company providing administrative services to Peveler. Chris and Michelle Mazzini are the owners of Peveler Pipeline, LP, a limited partnership which owns a pipeline gathering system servicing wells owned by Giant, another related entity, described elsewhere in this report. The Company entered into a similar agreement with M-R Ventures, LLC (&#8220;MRV&#8221;) a limited liability company that operates some wells in Michigan, and that is owned by Chris and Michelle Mazzini. Pursuant to this agreement, MRV pays the Company a monthly fee in the amount of $500 for certain administrative services that the Company provides to MRV. The Company entered into a similar agreement with Reserve Royalty Company (&#8220;Reserve&#8221;) a sole proprietorship that holds some royalty interests owned by Chris and Michelle Mazzini. Pursuant to this agreement, Reserve pays the Company a monthly fee in the amount of $350 for certain administrative services that the Company provides to Reserve.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">7. COMMON STOCK</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Effective January 1, 2006, the Company adopted ASC Topic 718-10, &#34;Share-Based Payment&#34;. ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices, or the amount of share-based compensation recognized in earnings.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the three-year period ending December 31, 2020, the Company did not issue any compensation related to share-based payments.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company has not approved nor authorized any standing repurchase program for its common stock.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">During the three-year period ending December 31, 2020, the Company made the following repurchase of its common stock:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">Effective December 6, 2018, the Company repurchased 126,667 shares of its common stock as a one-time transaction for a purchase price of $269,801 or $2.13 per share.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">Effective April 6, 2020, and June 20, 2020, the Company repurchased 45,036 shares and 9,248 shares of its common stock from a non-controlling, unaffiliated shareholder of the Company for a negotiated purchase price of $56,295 and $11,560 respectively, or $1.25 per share. The repurchased shares are held as Treasury Stock.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The repurchased shares are held as Treasury Stock.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">8. INCOME TAXES</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company accounts for income taxes pursuant to ASC Topic 740-10, &#34;Accounting for Income Taxes&#34;. ASC Topic 740-10 utilizes the liability method of computing deferred income taxes.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Income tax differed from the amounts computed by applying an effective United States federal income tax rate of 21% to pretax income in 2020, 2019, and 2018.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Deferred income taxes reflect the effects of temporary differences between the tax bases of assets and liabilities and the reported amounts of those assets and liabilities for financial reporting purposes. Deferred income taxes also reflect the value of investment tax credits and an offsetting valuation allowance. The Company's total deferred tax assets and corresponding valuation allowance at December 31, 2020 and 2019 consisted of the following:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Computed expected tax expense (benefit)</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(259,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(157,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">77,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Miscellaneous timing differences</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">related to book and tax depletion differences</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">and the expensing of intangible drilling costs.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">68,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(9,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(233,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Gain on sale of oil and gas properties'</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">193,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">303,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Correction of prior year estimate</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">12,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">77,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 10pt; padding-left: 5.4pt">Expected Federal income tax expense (benefit)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">224,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="13">Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2020</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2019</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2018</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Federal income taxes (benefit)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(191,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">39,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">224,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">State income taxes</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Current income tax provision (benefit)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">224,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="7" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Deferred tax assets</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left; text-indent: 10pt; padding-left: 5.4pt">Depletion and amortization</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">105,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">152,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Expired leasehold</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">153,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">145,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Other, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Depreciation</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">52,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Total deferred tax assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">314,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">348,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Deferred tax liabilities</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Intangible drilling costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(109,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(292,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Total deferred tax liability</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(109,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(292,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">Net deferred income tax asset (payable)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">205,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">56,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On December 22, 2017, the U.S. Congress enacted the Tax Cuts and Jobs Act (the &#8220;Act&#8221;) which made significant changes to U.S. federal income tax law, including lowering the federal statutory corporate income tax rate to 21% beginning January 1, 2018. The income tax effects of changes in tax laws are recognized in the period when enacted.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company's estimate does not reflect effects of any state tax law changes and uncertainties regarding interpretations that may arise as a result of federal tax reform.&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Computed expected tax expense (benefit)</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(259,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">(157,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">77,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Miscellaneous timing differences</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">related to book and tax depletion differences</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">and the expensing of intangible drilling costs.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">68,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(9,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(233,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Gain on sale of oil and gas properties'</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">193,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">303,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Correction of prior year estimate</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">12,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">77,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 10pt; padding-left: 5.4pt">Expected Federal income tax expense (benefit)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">224,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td colspan="13">Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2020</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2019</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2018</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Federal income taxes (benefit)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(191,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">39,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">224,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">State income taxes</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Current income tax provision (benefit)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(191,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">39,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">224,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">10. EARNINGS PER SHARE</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Earnings per share (&#34;EPS&#34;) are calculated in accordance with ASC Topic 260-10, &#34;Earnings per Share&#34;, which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. The adoption of ASC Topic 260-10 had no effect on previously reported EPS. Diluted EPS is computed based on the weighted number of shares outstanding, plus the additional common shares that would have been issued had the options outstanding been exercised.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">11. CONCENTRATIONS OF CREDIT RISK</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Deposits held in non-interest-bearing transaction accounts at the same institution are now aggregated with any interest-bearing deposits the owner may hold in the same ownership category, and the combined total insured up to at least $250,000.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">As of December 31, 2020, the Company had approximately $<font style="background-color: white">3,263,000</font> in checking and money market accounts at one bank, $1,474,000 at a second bank, $1,786,000 and $378,000 invested at two other banks. The Company also had approximately $8,825,000 of long-term certificates of deposit invested at these banks. Cash amounts on deposit at these institutions exceeded current per account FDIC protection limits by approximately $2,325,000.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Most of the Company's business activity is located in Texas. Accounts receivable as of December 31, 2020 and 2019 are due from both individual and institutional owners of joint interests in oil and gas wells as well as purchasers of oil and natural gas. A portion of the Company's ability to collect these receivables is dependent upon revenues generated from sales of oil and natural gas produced by the related wells.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">12. FINANCIAL INSTRUMENTS</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The estimated fair value of the Company's financial instruments at December 31, 2020 and 2019 follows:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Carrying<br /> Amount</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair<br /> Value</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Carrying<br /> Amount</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair<br /> Value</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Cash</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">7,480,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">7,480,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">15,229,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">15,229,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Restricted cash</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">295,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">292,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">795,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">795,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Long-term investments</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,825,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,825,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,150,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,150,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Accounts receivable</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,613,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,613,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,190,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,190,000</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The fair value amounts for each of the financial instruments listed above approximate carrying amounts due to the short maturities of these instruments.</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Carrying<br /> Amount</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair<br /> Value</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Carrying<br /> Amount</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Fair<br /> Value</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Cash</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">7,480,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">7,480,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">15,229,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">15,229,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Restricted cash</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">295,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">292,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">795,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">795,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Long-term investments</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,825,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,825,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,150,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,150,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Accounts receivable</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,613,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,613,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,190,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,190,000</td><td style="text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">13. COMMITMENTS AND CONTINGENCIES</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company's oil and gas exploration and production activities are subject to Federal, State and environmental quality and pollution control laws and regulations. Such regulations restrict emission and discharge of wastes from wells, may require permits for the drilling of wells, prescribe the spacing of wells and rate of production, and require prevention and clean-up of pollution.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Although the Company has not in the past incurred substantial costs in complying with such laws and regulations, future environmental restrictions or requirements may materially increase the Company's capital expenditures, reduce earnings, and delay or prohibit certain activities.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">At December 31, 2020 the Company has acquired bonds and letters of credit issued in favor of various state regulatory agencies as mandated by state law in order to comply with financial assurance regulations required to perform oil and gas operations within the various state jurisdictions.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: white">The Company has seven $5,000 single-well bonds totaling $35,000 and one $10,000 single well bond with an insurance company, for wells the Company operates in Alabama.&#160; The $5,000 bonds are written for a three-year period and have expiration dates of August 1, 2022.&#160; &#160;The $10,000 bond is written for a one-year period and expired February 16, 2021.&#160; Subsequent to year-end, this bond has been extended through February 16, 2022.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: white">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: white">The Company has seven letters of credit from a bank issued for the benefit of various state regulatory agencies in Texas, New Mexico, Oklahoma, and Louisiana, ranging in amounts from $25,000 to $100,000 and totaling $295,000.&#160; These letters of credit are fully secured by funds on deposit with the bank in business money market accounts and automatically extend for a period of one year unless cancelled by the beneficiary.&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: white">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; background-color: white">The Company also has three letters of credit secured with four certificates of deposit at a second bank totaling $425,000.&#160; The letters of credit have expiration dates ranging from November 30, 2021 to August 15, 2024.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">14. ADDITIONAL OPERATIONS AND BALANCE SHEET INFORMATION</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Certain information about the Company's operations for the years ended December 31, 2020, 2019 and 2018 follows.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><i>Dependence on Customers</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following is a summary of a partial list of purchasers / operators (listed by percent of total oil and natural gas sales) from oil and natural gas produced by the Company for the three-year period ended December 31, 2020:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Purchaser / Operator</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: right">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: right">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: right">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Sunoco Partners Marketing</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: right">18</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Enlink Gas Marketing, LTD.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Targa Midstream Services, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Bedrock Production LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Hunt Crude Oil Supply</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Barnett Gathering, LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Peveler Pipeline, LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Phillips 66</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Pruet Production Co.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Eastex Crude Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">ETC Texas Pipeline, LTD</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Midcoast Energy Partners LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">FDL Operating LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Oasis Transportation &#38; Marketing Group</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">ACE Gathering, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Empire Pipeline Corp.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Land and Natural Resource Develomeent</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">OXY USA, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Eagle Ridge Operating, Inc</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Valero Energy Corporation</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Edinger Engineering Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Webb Energy Resources, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Lion Oil Trading &#38; Transportation</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">ETX Energy, LLC formerly New Gulf Resources</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Enterprise Crude Oil, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Sandridge Energy, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">XTO Energy, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Enlink Crude Purchasing, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Shell Trading (US) Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Range Resources Corporation</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Enervest Operating, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Dorado Oil Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Devon OEI Operating, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">LPC Crude Oil Marketing LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">BP America Production Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">DCP Midstream, LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Camino</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Oil and natural gas is sold to <font style="background-color: white">approximately 103 different purchasers </font>under market sensitive, short-term contracts computed on a month to month basis.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Except as set forth above, there are no other customers of the Company that individually accounted for more than one percent (1%) of the Company's oil and gas revenues during the three years ended</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">December 31, 2020.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company currently has no hedged contracts.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Certain revenues, costs and expenses related to the Company's oil and gas operations are as follows:&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Capitalized costs relating to oil and gas</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">producing activities:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; text-indent: 30pt; padding-left: 5.4pt">Unproved properties</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,876,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,876,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,896,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Proved properties</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25,052,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25,062,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25,996,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Total capitalized costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">26,928,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">26,938,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">27,892,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Accumulated amortization</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(25,241,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(24,848,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(24,454,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total capitalized costs, net</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,687,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,090,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,438,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Costs incurred in oil and gas property</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">acquisitions, exploration and development:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-indent: 30pt; padding-left: 5.4pt">Acquisition of properties</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">22,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">214,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">354,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Development costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">97,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">72,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">191,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total costs incurred</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">119,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">286,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">545,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Results of operations from producing activities:</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Sales of oil and gas</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,923,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,631,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">5,848,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Production costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,000,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,582,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,491,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Amortization of oil and gas properties</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">393,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">394,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">439,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Total production costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,393,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,976,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,930,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total net revenue</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">530,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,655,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,918,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-bottom: 2.5pt; padding-left: 5.4pt">Sales price per equivalent Mcf</td><td style="width: 5%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; text-align: right">3.15</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; text-align: right">3.97</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; text-align: right">5.16</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Production costs per equivalent Mcf</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.15</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.21</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.20</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Amortization per equivalent Mcf</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.42</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.34</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.39</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Results of operations from gas gathering</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">and equipment rental activities:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Revenue</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">89,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">125,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">136,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Operating expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">32,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">49,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Total costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">10,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">34,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">50,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total net revenue</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">79,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">91,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">86,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">15. BUSINESS SEGMENTS</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company's three business segments are (1) oil and gas exploration, acquisition, production, and operations, (2) transportation and compression of natural gas, and (3) commercial real estate investment. Management has chosen to organize the Company into the three segments based on the products or services provided. The following is a summary of selected information for these segments for the</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">three-year period ended December 31, 2020:&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Revenues: (1)</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; text-indent: 10pt; padding-left: 5.4pt">Oil and gas exploration, production</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,157,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,946,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,106,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">and operations</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Gas gathering, compression and</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">89,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">125,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">136,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">equipment rental</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Real estate rental</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">272,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">248,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">232,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,518,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,319,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,474,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;Year Ended December 31,&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Depreciation, depletion, and </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">amortization expense:</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Oil and gas exploration, production</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;396,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;408,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;461,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">and operations</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Impairment of oil and gas assets</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Gas gathering, compression and</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">equipment rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Real estate rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;55,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;47,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;48,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;452,000 </font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;456,000 </font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;522,000 </font></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;Year Ended December 31,&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income (loss) from operations:</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Oil and gas exploration, production</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;623,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;1,836,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;2,975,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">and operations</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Gas gathering, compression and</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;79,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;92,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;86,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">equipment rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Real estate rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(11,000)</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;745,000 </font></td> <td style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,950,000 </font></td> <td style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,050,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate and other (2)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;(1,639,000)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;(2,596,000)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;(2,786,000)</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Consolidated net income (loss)</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(894,000)</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(646,000)</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;264,000 </font></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Identifiable assets net of DDA:</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Oil and gas exploration, production</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; text-indent: 20pt; padding-left: 5.4pt">and operations</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,703,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,108,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,449,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Gas gathering, compression and</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">equipment rental</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Real estate rental</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,265,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,276,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,323,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,974,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,392,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,782,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Corporate and other (3)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">19,696,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">20,506,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">19,616,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Consolidated total assets</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,670,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">23,898,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,398,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: right">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-align: right">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Note (1): All reported revenues are from external customers.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Note (2): Corporate and other includes general and administrative expenses, other non-operating income and expense and income taxes.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Note (3): Corporate and other includes cash, accounts and notes receivable, inventory, other property and equipment and intangible assets.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">16. SUPPLEMENTARY INCOME STATEMENT INFORMATION</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following items were charged directly to expense:&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Maintenance and repairs</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">29,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">47,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Production taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">116,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">203,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">242,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Taxes, other than payroll and income taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">16,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,000</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Maintenance and repairs</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">29,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">47,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Production taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">116,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">203,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">242,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Taxes, other than payroll and income taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">16,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,000</td><td style="text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">17. QUARTERLY DATA (UNAUDITED)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The table below reflects selected quarterly information for the years ended December 31, 2020, 2019 and 2018.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, 2020</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">First<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Second<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Third<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Fourth<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenue</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">964,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">548,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,135,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,532,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expense</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,320,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,055,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,006,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">(2,032,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Operating income (loss)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(356,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(507,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">129,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left"></td><td style="text-align: right">(500,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Current tax (provision) benefit</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">61,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">113,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(43,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left"></td><td style="text-align: right">60,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Deferred tax (provision) benefit</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">23,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(28,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">17,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">137,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(272,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(422,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">103,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(303,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Earnings (loss) per share of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">common stock</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Basic and diluted</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.04</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, 2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">First<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Second<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Third<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Fourth<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenue</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,395,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,487,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,340,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,365,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expense</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,441,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,714,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,566,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,615,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Operating income (loss)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(46,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(227,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(226,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(250,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Current tax (provision) benefit</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">24,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(58,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Deferred tax (provision) benefit</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">71,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">80,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">98,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(107,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">21,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(123,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(186,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(358,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Earnings (loss) per share of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">common stock</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Basic and diluted</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.03</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.04</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, 2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">First<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Second<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Third<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Fourth<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenue</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,631,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,063,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,479,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,561,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expense</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,381,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,574,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,304,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,108,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Operating income (loss)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">489,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">175,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(547,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Current tax (provision) benefit</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(66,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(17,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(98,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(43,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Deferred tax (provision) benefit</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">121,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">230,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(172,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(58,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">305,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">702,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(95,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(648,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Earnings (loss) per share of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">common stock</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Basic and diluted</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.04</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.10</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.01</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.09</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">18. SUPPLEMENTAL RESERVE INFORMATION (UNAUDITED)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company&#8217;s net proved oil and natural gas reserves as of December 31, 2020, 2019, and 2018, have been estimated by Company personnel.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">All estimates are in accordance generally accepted petroleum engineering and evaluation principles and definitions and with guidelines established by the Securities and Exchange Commission. All of the Company&#8217;s reserves are located in the United States of America and accounted for under one cost center.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Our policies and practices regarding internal control over the estimating of reserves are structured to objectively and accurately estimate our oil and natural gas reserve quantities, and present values in compliance with the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) regulations and accounting principles generally accepted in the United States of America. We maintain an internal staff of petroleum engineers and geosciences professionals who work closely with the accounting and financial departments to ensure the integrity, accuracy and timeliness of data used in the estimation process. The data used in our reserve estimation process is based on historical results for production, oil and natural gas prices received, lease operating expenses and development costs incurred, ownership interest and other required data. Historical oil and natural gas prices, lease operating expenses, and ownership interests are provided by and verified by the Company&#8217;s accounting department.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Petroleum Engineer responsible for the supervision and preparation of the Company&#8217;s internally generated reserve report has a Bachelor of Science degree in Petroleum Engineering from a major university and has experience in preparing economic evaluations and reserve estimates. He meets the requirements regarding qualifications, objectivity and confidentiality set forth in the Standards Pertaining to the Engineering and Auditing of Oil and Gas Reserves Information promulgated by the Society of Petroleum Engineers.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company has established a written internal control procedure to verify that the data entered into our engineering evaluation software is complete and correct. These internal control procedures establish the source of the data both internally and externally, the personnel that will collect the data and testing of the data collected to ensure its accuracy.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following reserve estimates were based on existing economic and operating conditions. Oil and natural gas prices for 2020, 2019, and 2018 were calculated using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of each year. Operating costs, production and ad valorem taxes and future development costs were based on current costs with no escalation.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">There are numerous uncertainties inherent in estimating quantities of proved reserves and in projecting the future rates of production and timing of development expenditures. The following reserve data represents estimates only and should not be construed as being exact. Moreover, the present values should not be construed as the current market value of the Company's oil and natural gas reserves or the costs that would be incurred to obtain equivalent reserves.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Changes in Estimated Quantities of Proved Oil and Gas Reserves (Unaudited):&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Quantities of Proved Reserves:</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Crude Oil<br /> Bbls</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Natural Gas<br /> Mcf</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2017</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">308,940</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">7,173,430</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Sales of reserves in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Acquired properties</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,100</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,020</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Extensions and discoveries</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">230</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">325,070</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Revisions of previous estimates *</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(5,634</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">222,642</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 40pt; padding-left: 5.4pt">Production</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(43,136</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(874,812</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2018</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">261,500</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,849,350</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Sales of reserves in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(60</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(27,530</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Acquired properties</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">780</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,970</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Extensions and discoveries</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">121,400</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Revisions of previous estimates *</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,446</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,514,053</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 40pt; padding-left: 5.4pt">Production</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(41,919</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(916,456</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2019</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">228,747</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,519,681</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Sales of reserves in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Acquired properties</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,861</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17,341</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Extensions and discoveries</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Revisions of previous estimates *</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(56,008</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(880,867</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 40pt; padding-left: 5.4pt">Production</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(30,900</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(743,465</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2020</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">144,700</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,912,690</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">*&#160;&#160;May also include divestitures, not only changes in engineering.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Proved Developed Reserves:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2018</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">261,500</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,849,350</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2019</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">228,747</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,519,681</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2020</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">144,700</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,912,690</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves (Unaudited)</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves (&#34;Standardized Measures&#34;) does not purport to present the fair market value of a company's oil and gas properties. An estimate of such value should consider, among other factors, anticipated future prices of oil and natural gas, the probability of recoveries in excess of existing proved reserves, the value of probable reserves and acreage prospects, and perhaps different discount rates. It should be noted that estimates of reserve quantities, especially from new discoveries, are inherently imprecise and subject to substantial revision.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Reserve estimates were prepared in accordance with standard Security and Exchange Commission guidelines. The future net cash flow for 2020, 2019, and 2018, was computed using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of the year. Lease operating costs, compression, dehydration, transportation, ad valorem taxes, severance taxes, and federal income taxes were deducted. Costs and prices were held constant and were not escalated over the life of the properties. No deduction has been made for interest. The annual discount of estimated future cash flows is defined, for use herein, as future cash flows discounted at 10% per year, over the expected period of realization.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Proved Developed Reserves were calculated based on Decline Curve Analysis on <font style="background-color: white">29 operated wells and 41 non-operated wells</font>. Materially insignificant operated and non-operated wells were excluded from the reserve estimate.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company emphasizes that reserve estimates are inherently imprecise. Accordingly, the estimates are expected to change as more current information becomes available. It is reasonably possible that, because of changes in market conditions or the inherent imprecision of these reserve estimates, that the estimates of future cash inflows, future gross revenues, the amount of oil and natural gas reserves, the remaining estimated lives of the oil and natural gas properties, or any combination of the above may be increased or reduced in the near term. If reduced, the carrying amount of capitalized oil and gas properties may be reduced materially in the near term.</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Future production revenue</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">10,020,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">22,235,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">35,572,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Future development costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Future production costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(6,284,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(9,167,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(17,830,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Future net cash flow before Federal income taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,736,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">13,068,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17,742,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Future income taxes</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(560,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,960,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,661,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Future net cash flows</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,176,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11,108,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">15,081,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Effect of 10% annual discounting</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(609,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,010,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,030,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Standardized measure of discounted cash flows</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,567,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,098,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,051,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Changes in the standardized measure of discounted future net cash flows:</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Beginning of the year</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,098,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">11,051,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">9,794,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Sales of oil and gas, net of production costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(879,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,950,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(3,194,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Net changes in prices and production costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(963,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(3,558,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,171,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Extensions, discoveries, additions less related costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">475,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Development costs incurred</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">92,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">68,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">181,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Revisions of previous quantity estimates</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(963,200</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">203,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">284,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Net change in purchase and sales of minerals in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">28,664</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">20,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">33,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Accretion of discount</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">610,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,105,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">979,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Net change in income taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">777,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(276,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(103,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Other</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,233,464</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(582,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">431,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">End of year</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,567,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,098,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,051,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">SPINDLETOP OIL &#38; GAS CO. AND SUBSIDIARIES</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">VALUATION AND QUALIFYING ACCOUNTS</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">YEARS ENDED DECEMBER 31, 2020, 2019, AND 2018</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 2.75in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="17" style="text-align: center">SCHEDULE&#160;&#160;I I</td></tr> <tr style="vertical-align: bottom"> <td colspan="17" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Balance</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Costs &#38;<br /> Expenses</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Deductions</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Ending<br /> Balance</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Allowance for doubtful accounts</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">December 31, 2020</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">15,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">15,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">December 31, 2019</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">December 31, 2018</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">SCHEDULE III</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">SPINDLETOP OIL &#38; GAS CO. AND SUBSIDIARIES</font></td></tr> <tr style="vertical-align: bottom"> <td colspan="6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">REAL ESTATE AND ACCUMULATED DEPRECIATION</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="5" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Initial Cost to Corporation</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Cost</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Description</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Encumbrances</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Land</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Buildings</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Subsequent<br /> to Acquist'n</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Two story multi-tenant garden office building with sub-grade parking garage located in Dallas, Texas</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;688,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$ 1,624,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;326,000 </font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Gross amounts at which carried at close of year</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Land</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Buildings</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Accumulated<br /> Depreciation</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Life on which<br /> Depreciation<br /> Calculated</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Date<br /> Acquired</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;688,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$1,624,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;2,312,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$ 1,047,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">12/27/2004</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td colspan="2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Notes to Schedule III</font></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td colspan="6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)&#160;&#160;See Footnote 2 to the Financial Statements outlining depreciation methods and lives.</font></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td colspan="6" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)&#160;&#160;None</font></td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="9">(c)&#160;&#160;The reconciliation for investments in real estate and accumulated&#160;&#160;depreciation for the years ended December 31, 2020 are as follows:</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Investments in<br /> Real Estate</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Accumulated<br /> Depreciation</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; padding-left: 5.4pt">Balance, December 31, 2005</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,986,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">49,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">210,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">71,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2006</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,196,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">120,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">34,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">84,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Balance, December 31, 2007</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,230,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">204,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">38,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">96,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2008</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">300,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">100,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Balance, December 31, 2009</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">400,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">101,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2010</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">501,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">100,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Balance, December 31, 2011</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">601,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">51,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">652,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">52,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2013</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">704,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">52,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2014</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">756,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2015</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">803,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2016</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">850,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2017</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">897,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">48,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2018</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">945,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2019</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">992,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">44,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">55,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2020</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,312,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,047,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; text-align: center; margin-bottom: 0"></p> 396000 408000 1000 1000 13000 55000 47000 47000 461000 522000 456000 452000 264000 -646000 -894000 0.01 0.01 100000000 100000000 7677471 7677471 6809602 6755318 1150000 8825000 795000 292000 0.21 0.18 0.00 0.10 0.08 0.10 0.00 0.02 0.01 0.01 0.01 0.03 0.03 0.01 0.03 0.01 0.04 0.11 0.08 0.09 0.01 0.06 0.05 0.20 0.03 0.05 0.03 0.12 0.00 0.03 0.04 0.01 0.02 0.02 0.03 0.03 0.03 0.03 0.00 0.00 0.01 0.00 0.03 0.02 0.04 0.02 0.00 0.01 0.01 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.04 0.04 0.05 0.04 0.05 0.01 0.02 0.01 0.00 0.02 0.01 0.01 0.02 0.10 0.08 0.00 0.03 0.00 0.00 0.00 0.03 0.06 0.00 0.01 0.00 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Quantities of Proved Reserves:</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Crude Oil<br /> Bbls</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Natural Gas<br /> Mcf</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2017</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">308,940</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">7,173,430</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Sales of reserves in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Acquired properties</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,100</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,020</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Extensions and discoveries</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">230</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">325,070</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Revisions of previous estimates *</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(5,634</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">222,642</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 40pt; padding-left: 5.4pt">Production</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(43,136</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(874,812</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2018</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">261,500</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,849,350</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Sales of reserves in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(60</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(27,530</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Acquired properties</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">780</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,970</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Extensions and discoveries</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">121,400</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Revisions of previous estimates *</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,446</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,514,053</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 40pt; padding-left: 5.4pt">Production</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(41,919</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(916,456</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2019</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">228,747</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,519,681</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Sales of reserves in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Acquired properties</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,861</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17,341</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Extensions and discoveries</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Revisions of previous estimates *</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(56,008</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(880,867</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 40pt; padding-left: 5.4pt">Production</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(30,900</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(743,465</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2020</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">144,700</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,912,690</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">*&#160;&#160;May also include divestitures, not only changes in engineering.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Proved Developed Reserves:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2018</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">261,500</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,849,350</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2019</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">228,747</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,519,681</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Balance December 31, 2020</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">144,700</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,912,690</td><td style="text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Future production revenue</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">10,020,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">22,235,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">35,572,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Future development costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Future production costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(6,284,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(9,167,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(17,830,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Future net cash flow before Federal income taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,736,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">13,068,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17,742,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Future income taxes</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(560,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,960,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,661,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Future net cash flows</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,176,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11,108,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">15,081,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Effect of 10% annual discounting</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(609,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(5,010,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(4,030,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Standardized measure of discounted cash flows</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,567,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,098,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,051,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Beginning of the year</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,098,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">11,051,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">9,794,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Sales of oil and gas, net of production costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(879,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,950,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(3,194,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Net changes in prices and production costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(963,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(3,558,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,171,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Extensions, discoveries, additions less related costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">17,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">475,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Development costs incurred</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">92,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">68,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">181,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Revisions of previous quantity estimates</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(963,200</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">203,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">284,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Net change in purchase and sales of minerals in place</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">28,664</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">20,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">33,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Accretion of discount</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">610,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,105,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">979,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Net change in income taxes</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">777,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(276,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(103,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Other</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,233,464</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(582,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">431,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">End of year</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,567,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,098,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,051,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="17" style="text-align: center">SCHEDULE&#160;&#160;I I</td></tr> <tr style="vertical-align: bottom"> <td colspan="17" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Balance</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Costs &#38;<br /> Expenses</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Deductions</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Ending<br /> Balance</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Allowance for doubtful accounts</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">December 31, 2020</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">15,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 3%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 10%; text-align: right">15,000</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">December 31, 2019</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">December 31, 2018</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">SCHEDULE III</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">SPINDLETOP OIL &#38; GAS CO. AND SUBSIDIARIES</font></td></tr> <tr style="vertical-align: bottom"> <td colspan="6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">REAL ESTATE AND ACCUMULATED DEPRECIATION</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="5" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Initial Cost to Corporation</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total Cost</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Description</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Encumbrances</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Land</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Buildings</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Subsequent<br /> to Acquist'n</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Two story multi-tenant garden office building with sub-grade parking garage located in Dallas, Texas</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;688,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$ 1,624,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;326,000 </font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td colspan="4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Gross amounts at which carried at close of year</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Land</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Buildings</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Total</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Accumulated<br /> Depreciation</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Life on which<br /> Depreciation<br /> Calculated</font></td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Date<br /> Acquired</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;688,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$1,624,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;2,312,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$ 1,047,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">12/27/2004</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td colspan="2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Notes to Schedule III</font></td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td colspan="6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(a)&#160;&#160;See Footnote 2 to the Financial Statements outlining depreciation methods and lives.</font></td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr> <td colspan="6" style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">(b)&#160;&#160;None</font></td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Purchaser / Operator</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: right">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: right">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: right">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Sunoco Partners Marketing</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: right">20</td><td style="width: 1%; text-align: left">%</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: right">21</td><td style="width: 1%; text-align: left">%</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: right">18</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Enlink Gas Marketing, LTD.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Targa Midstream Services, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">11</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Bedrock Production LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Hunt Crude Oil Supply</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Barnett Gathering, LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Peveler Pipeline, LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Phillips 66</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Pruet Production Co.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Eastex Crude Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">ETC Texas Pipeline, LTD</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Midcoast Energy Partners LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">FDL Operating LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Oasis Transportation &#38; Marketing Group</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">ACE Gathering, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Empire Pipeline Corp.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Land and Natural Resource Develomeent</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">OXY USA, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Eagle Ridge Operating, Inc</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Valero Energy Corporation</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Edinger Engineering Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Webb Energy Resources, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Lion Oil Trading &#38; Transportation</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">ETX Energy, LLC formerly New Gulf Resources</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Enterprise Crude Oil, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Sandridge Energy, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">XTO Energy, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Enlink Crude Purchasing, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Shell Trading (US) Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Range Resources Corporation</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Enervest Operating, LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Dorado Oil Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Devon OEI Operating, Inc.</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">LPC Crude Oil Marketing LLC</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">BP America Production Company</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">DCP Midstream, LP</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Camino</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="text-align: left">%</td></tr> </table> <p style="margin: 0pt">&#160;</p> Exceeds 2,325,000 282000 326000 -270000 -68000 269801 45036 9248 126667 54284 126667 56295 11560 8825000 250 1500 250 500 350 2923000 4631000 5848000 5848000 4631000 2924000 SPINDLETOP OIL & GAS CO 0000867038 10-K 2020-12-31 false --12-31 No No Yes Non-accelerated Filer false false false FY 2020 250000 Yes <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">1. BASIS OF PRESENTATION AND ORGANIZATION</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Merger and Basis of Presentation</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On July 13, 1990, Prairie States Energy Co., a Texas corporation, (the Company) merged with Spindletop Oil &#38; Gas Co., a Utah corporation (the Acquired Company). The name of Prairie States Energy Co. was changed to Spindletop Oil &#38; Gas Co., a Texas corporation at the time of the merger.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Organization and Nature of Operations</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company was organized as a Texas corporation in September 1985, in connection with the Plan of Reorganization (&#34;the Plan&#34;), effective September 9, 1985, of Prairie States Exploration, Inc., (&#34;Exploration&#34;), a Colorado corporation, which had previously filed for Chapter 11 bankruptcy. In connection with the Plan, Exploration was merged into the Company, with the Company being the surviving corporation.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Spindletop Oil &#38; Gas Co. is engaged in the exploration, development and production of oil and natural gas; and through one of its subsidiaries, the gathering and marketing of natural gas.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters. The Company leases the remaining space in the building to non-related third party commercial tenants at prevailing market rates.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements follows:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Consolidation </u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The consolidated financial statements include the accounts of Spindletop Oil &#38; Gas Co. and its wholly owned subsidiaries, Prairie Pipeline Co. and Spindletop Drilling Company. All significant inter-company transactions and accounts have been eliminated.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Cash and Cash Equivalents</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company considers all highly liquid instruments with a maturity of three months or less at time of original issuance to be cash equivalents.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Other Investments</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Other short-term and long-term investments consist of certificates of deposit with maturities of more than three months. Carrying amounts approximate fair value.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Allowance for Doubtful Accounts</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company provides an allowance for doubtful accounts equal to the estimated uncollectible portion of accounts receivable. This estimate is based on historical collection experience and a review of the current status of accounts receivable.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Oil and Gas Properties</u></p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company follows the full cost method of accounting for its oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and natural gas reserves are capitalized and accounted for in cost centers, on a country-by-country basis. For each cost center, capitalized costs, less accumulated amortization and related deferred income taxes, shall not exceed an amount (the cost center ceiling) equal to the sum of:</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">a)</td><td><font style="font-family: Arial, Helvetica, Sans-Serif">The present value of estimated future net revenues computed by applying current prices of oil and natural gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Arial, Helvetica, Sans-Serif">b)</font></td><td><font style="font-family: Arial, Helvetica, Sans-Serif">The cost of properties not being amortized; plus</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Arial, Helvetica, Sans-Serif">c)</font></td><td><font style="font-family: Arial, Helvetica, Sans-Serif">The lower of cost or estimated fair market value of unproven properties included in the costs being amortized; less</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in">d)</td><td><font style="font-family: Arial, Helvetica, Sans-Serif">Income tax effects related to differences between the book and tax basis of the properties.</font></td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling (as defined), the excess is charged to expense and separately disclosed during the period in which the excess occurs. Amounts required to be written off will not be reinstated for any subsequent increase in the cost center ceiling.&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Depreciation and amortization for each cost center are computed on a composite unit-of-production method, based on estimated proven reserves attributable to the respective cost center. All costs associated with oil and gas properties are currently included in the base for computation and amortization. Such costs include all acquisition, exploration, development costs and estimated future expenditures for proved undeveloped properties as well as estimated dismantlement and abandonment costs as calculated under the asset retirement obligation category, net of salvage value. All of the Company's oil and gas properties are located within the continental United States.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gains and losses on sales of oil and gas properties are treated as adjustments of capitalized costs. Gains or losses on sales of property and equipment, other than oil and gas properties, are recognized as part of operations. Expenditures for renewals and improvements are capitalized, while expenditures for maintenance and repairs are charged to operations as incurred.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Property and Equipment</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company, as operator, leases equipment to owners of oil and gas wells, on a month-to-month basis.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company, as operator, transports natural gas through its natural gas gathering systems, in exchange for a fee.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Depreciation is provided in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives (5 to 10 years for rental equipment and natural gas gathering systems, 4 to 5 years for other property and equipment). The straight-line method of depreciation is used for financial reporting purposes, while accelerated methods are used for tax purposes.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Real Estate Property</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company owns land along with a two-story commercial office building which is situated thereon. The Company occupies a portion of the building as its primary corporate headquarters, and leases the remaining space in the building to non-related third party commercial tenants at prevailing market rates. The Company depreciates the commercial office building using the straight-line method of depreciation for financial statement and income tax purposes.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Investments in Real Estate</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">All investments in real estate holdings are stated at cost or adjusted carrying value. ASC Topic 360, &#8220;Accounting for the Impairment or Disposal of Long-Lived Assets&#8221;, requires that a property be considered impaired if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the property. If impairment exists, an impairment loss is recognized by a charge against earnings equal to the amount by which the carrying amount of the property exceeds fair market value less cost to sell the property. If impairment of a property is recognized, the carrying amount of the property is reduced by the amount of the impairment, and a new cost for the property is established. Depreciation is provided over the properties estimated remaining useful life. There was no charge to earnings during 2020, 2019, or 2018 due to impairment of real estate holdings.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Accounting for Asset Retirement Obligations</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company adopted ASC Topic 410-20, &#34;Accounting for Asset Retirement Obligations&#34; on December 31, 2005. This statement requires the recording of a liability in the period in which an asset retirement obligation (&#34;ARO&#34;) is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter, each quarter, this liability is accreted up to the final retirement cost. The determination of the ARO is based on an estimate of the future cost to plug and abandon our oil and gas wells. The actual costs could be higher or lower than current estimates.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following table reflects the changes of the asset retirement obligations during the period ending December 31;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">Carrying amount of asset retirement obligation</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,408,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,324,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Liabilities added</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">32,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">110,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Liabilities divested or settled</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(145,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Current period accretion expenses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">139,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">120,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Carrying amount as of December 31,</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,434,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,408,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;&#160;&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Revenue Recognition</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company follows the &#8220;sales&#8221; (takes or cash) method of accounting for oil and natural gas revenues. Under this method, the Company recognizes revenues on oil and natural gas production as it is taken and delivered to the purchasers. The volumes sold may be more or less than the volumes the Company is entitled to take based on our ownership in the property. These differences result in a condition known as a production imbalance. Our crude oil and natural gas imbalances are insignificant.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Income Taxes</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In June, 2006, an interpretation of ASC Topic 740-10, &#8220;Accounting for Uncertainty in Income Taxes&#8221; was issued. The interpretation creates a single model to address accounting for uncertainty in tax positions. Specifically, the pronouncement prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition of certain tax positions. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company accounts for income taxes pursuant to ASC Topic 740-10 &#34;Accounting for Income Taxes&#34; , which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities, using enacted tax rates in effect in the years in which the differences are expected to reverse. The temporary differences primarily relate to depreciation, depletion and intangible drilling costs.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Use of Estimates</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The preparation of financial statements in conformity with U. S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Share-Based Payments</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Effective January 1, 2006, the Company adopted ASC Topic 718-10, &#8220;Share-Based Payment&#34;. ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant-date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices or the amount of share-based compensation recognized in earnings.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 14pt 0 12pt"><u>Recently Issued Accounting Pronouncements</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842). The FASB issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The accounting for Lessees relates primarily to finance leases and for operating leases. The Company does not currently have any finance or operating leases as a lessee. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. Under GAAP accounting, lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. The Company does lease space in its commercial office building to third-party tenants under rental lease agreements as the lessor, and recognizes lease income from tenants on a straight-line basis. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. The Company does not anticipate that this new guidance will have a material impact on the Company&#8217;s consolidated financial position or results of operations for the periods presented.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">In May 2014, the Financial Accounting Standards Board (&#34;FASB&#34;) issued Accounting Standards Update (&#34;ASU&#34;) 2014-09, <i>Revenue from Contracts with Customers (Topic 606) </i>(&#34;ASU 2014-09&#34;), which supersedes nearly all existing revenue recognition guidance under existing generally accepted accounting principles.&#160;&#160;This new standard is based upon the principal that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>&#160;</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Revenue from Contracts with Customers</i> &#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Sales of oil, condensate, natural gas and natural gas liquids (&#8220;NGLs&#8221;) are recognized at the time control of the products are transferred to the customer. Based upon the Company&#8217;s current purchasers&#8217; past experience and expertise in the market, collectability is probable, and there have not been payment issues with the Company&#8217;s purchasers over the past year or currently. Generally, the Company&#8217;s gas processing and purchase agreements indicate that the processors take control of the gas at the inlet of the plant and that control of residue gas is returned to the Company at the outlet of the plant. The midstream processing entity gathers and processes the natural gas and remits proceeds to the Company for the resulting sales of NGLs. The Company delivers oil and condensate to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product.&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">When sales volumes exceed the Company&#8217;s entitled share, a production imbalance occurs. If production imbalance exceeds the Company&#8217;s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. Production imbalances have not had and currently do not have a material impact on the financial statements, and this did not change with the adoption of ASC 606.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Generally, the Company&#8217;s contracts have an initial term of one year or longer but continue month to month unless written notification of termination in a specified time period is provided by either party to the contract. The Company has used the practical expedient in ASC 606 which states that the Company is not required to disclose that transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligation is not required.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>Contract Balances</i> &#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Company receives purchaser statements from the majority of its customers but there are a few contracts where the Company prepares the invoice. Payment is unconditional upon receipt of the statement or invoice. Accordingly, the Company&#8217;s product sales contracts do not give rise to contract assets or liabilities under ASC 606. The majority of the Company&#8217;s contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, whether a well delivers to a gathering or transmission line, quality of the oil or natural gas, and supply and demand conditions. The price of these commodities fluctuates to remain competitive with supply.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>Prior Period Performance Obligations</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Company records revenue in the month production is delivered to the purchaser. Settlement statements may not be received for 30 to 90 days after the date production is delivered, and therefore the Company is required to estimate the amount of production delivered to the purchaser and the price that will be received for the sale of the product. Differences between the Company&#8217;s estimates and the actual amounts received for product sales are generally recorded in the following month that payment is received. Any differences between the Company&#8217;s revenue estimates and actual revenue received historically have not been significant. The Company has internal controls in place for its revenue estimation accrual process.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>Impact of Adoption of ASC 606</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Company has completed its review of its primary oil and natural gas marketing agreements in order to assess the impact of adoption, and it has assessed that adoption of this standard will not have a material impact on the Company's financial statements because revenue will continue to be recognized as production is delivered.&#160;&#160;The Company adopted this standard in the first quarter of 2018 utilizing the modified retrospective method.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In August 2016, the FASB issued Accounting Standards Update No 2016-15: Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The FASB issued this Accounting Standards Update to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Currently, there are no other new accounting pronouncements that were issued to be effective in 2020 or subsequent thereto that would have a material impact on the Company&#8217;s financial reporting.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Subsequent Events</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company has evaluated subsequent events through the issuance date of April1 15, 2021.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Subsequent to year-end, the Company applied for and was granted a loan in the amount of $402,573 pursuant to the Paycheck Protection Program (&#8220;PPP&#8221;) under the Coronavirus Aid, Relief and Economic Security Act (&#8220;CARES Act&#8221;), which was enacted March 27, 2020.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><font style="color: #000000">On March 18, 2021, the loan (the &#8220;Loan&#8221;) was funded and matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing after the loan forgiveness determination has been made by the Small Business Administration. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.</font></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The PPP provides that loan principal and accrued interest may be forgiven after a twenty-four-week period if the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company believes it will use the loan proceeds from the loan for purposes consistent with the PPP. While the Company currently believes that its use of the loan proceeds should meet the conditions for forgiveness of at least a portion of the loan, we cannot assure you that the Company will be eligible for forgiveness of the loan, in whole or in part.</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="7" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Deferred tax assets</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left; text-indent: 10pt; padding-left: 5.4pt">Depletion and amortization</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">105,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">152,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Expired leasehold</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">153,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">145,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Other, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Depreciation</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">52,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Total deferred tax assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">314,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">348,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Deferred tax liabilities</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Intangible drilling costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(109,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(292,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Total deferred tax liability</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(109,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(292,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 20pt; padding-left: 5.4pt">Net deferred income tax asset (payable)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">205,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">56,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> 0.21 <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">9. CASH FLOW INFORMATION</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company does not consider any of its assets, other than cash and certificates of deposit shown as cash on the balance sheet, to meet the definition of a cash equivalent.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Net cash provided by operating activities includes cash payments for the following:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 1in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Income taxes</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">60,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">200,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Insurance proceeds</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Accounts Payable</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Addition (Reduction) of oil &#38; gas</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">properties by recognitions of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">asset retirement obligation</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">(113,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">(36,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">(45,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(113,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(36,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(45,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Proceeds from sales of oil and gas properties</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,168,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">965,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Less:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Capital acquisition under IRC Section 1031</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(21,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Qualified Intermediary accounts receivable</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(250,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">579,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">918,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,523,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Net cash provided by operating activities includes cash payments for the following:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 1in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Income taxes</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">60,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">200,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Insurance proceeds</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Accounts Payable</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows:</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Addition (Reduction) of oil &#38; gas</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">properties by recognitions of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">asset retirement obligation</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">(113,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">(36,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">(45,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(113,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(36,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(45,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-left: 5.4pt">Proceeds from sales of oil and gas properties</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,168,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">965,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Less:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Capital acquisition under IRC Section 1031</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(21,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Qualified Intermediary accounts receivable</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(250,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">579,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">918,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,523,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Capitalized costs relating to oil and gas</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">producing activities:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; text-indent: 30pt; padding-left: 5.4pt">Unproved properties</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,876,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,876,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,896,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Proved properties</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25,052,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25,062,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">25,996,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 40pt; padding-left: 5.4pt">Total capitalized costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">26,928,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">26,938,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">27,892,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Accumulated amortization</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(25,241,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(24,848,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(24,454,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total capitalized costs, net</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,687,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,090,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,438,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Costs incurred in oil and gas property</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">acquisitions, exploration and development:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-indent: 30pt; padding-left: 5.4pt">Acquisition of properties</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">22,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">214,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">354,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Development costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">97,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">72,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">191,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total costs incurred</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">119,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">286,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">545,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Results of operations from producing activities:</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Sales of oil and gas</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">2,923,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">4,631,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">5,848,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Production costs</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,000,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,582,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,491,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Amortization of oil and gas properties</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">393,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">394,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">439,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Total production costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,393,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,976,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,930,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total net revenue</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">530,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,655,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,918,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-bottom: 2.5pt; padding-left: 5.4pt">Sales price per equivalent Mcf</td><td style="width: 5%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; text-align: right">3.15</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; text-align: right">3.97</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 11%; text-align: right">5.16</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Production costs per equivalent Mcf</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.15</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.21</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2.20</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Amortization per equivalent Mcf</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.42</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.34</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0.39</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td>&#160;</td> <td colspan="11" style="text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Results of operations from gas gathering</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">and equipment rental activities:</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Revenue</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">89,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">125,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 5%; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">136,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Operating expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">32,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">49,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 30pt; padding-left: 5.4pt">Total costs</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">10,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">34,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">50,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; text-indent: 40pt; padding-left: 5.4pt">Total net revenue</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">79,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">91,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">86,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="margin: 0pt"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="9">(c)&#160;&#160;The reconciliation for investments in real estate and accumulated&#160;&#160;depreciation for the years ended December 31, 2020 are as follows:</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Investments in<br /> Real Estate</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Accumulated<br /> Depreciation</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; padding-left: 5.4pt">Balance, December 31, 2005</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,986,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">49,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">210,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">71,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2006</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,196,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">120,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">34,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">84,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Balance, December 31, 2007</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,230,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">204,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">38,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">96,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2008</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">300,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">100,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Balance, December 31, 2009</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">400,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">101,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2010</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">501,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">100,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Balance, December 31, 2011</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">601,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">51,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Balance, December 31, 2012</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,268,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">652,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">52,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2013</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">704,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">52,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2014</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">756,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2015</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">803,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2016</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">850,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2017</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">897,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">48,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2018</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">945,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">47,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2019</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,268,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">992,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: 20pt; padding-left: 5.4pt">Acquisitions</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">44,000</td><td style="text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 20pt; padding-left: 5.4pt">Depreciation expense</td><td style="font-size: 12pt; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#160;</td><td style="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">55,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Balance, December 31, 2020</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,312,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,047,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="margin: 0pt">&#160;</p> 0.39 0.34 0.42 <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Revenues: (1)</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; text-indent: 10pt; padding-left: 5.4pt">Oil and gas exploration, production</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,157,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">4,946,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">6,106,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">and operations</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Gas gathering, compression and</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">89,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">125,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">136,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">equipment rental</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Real estate rental</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">272,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">248,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">232,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,518,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,319,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,474,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;Year Ended December 31,&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Depreciation, depletion, and </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">amortization expense:</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Oil and gas exploration, production</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;396,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;408,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;461,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">and operations</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Impairment of oil and gas assets</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Gas gathering, compression and</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">equipment rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Real estate rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;55,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;47,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;48,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;452,000 </font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;456,000 </font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;522,000 </font></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;Year Ended December 31,&#160;&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 57%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2020</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 14%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2019</font></td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Arial, Helvetica, Sans-Serif">2018</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Income (loss) from operations:</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Oil and gas exploration, production</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;623,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;1,836,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;2,975,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">and operations</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Gas gathering, compression and</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;79,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;92,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;86,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 20pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">equipment rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-indent: 10pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Real estate rental</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,000 </font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(11,000)</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;745,000 </font></td> <td style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;1,950,000 </font></td> <td style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,050,000 </font></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Corporate and other (2)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;(1,639,000)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;(2,596,000)</font></td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;&#160;&#160;&#160;(2,786,000)</font></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Consolidated net income (loss)</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(894,000)</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;(646,000)</font></td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font: 10pt Arial, Helvetica, Sans-Serif">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;264,000 </font></td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="11" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2018</td></tr> <tr style="vertical-align: bottom"> <td>Identifiable assets net of DDA:</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td><td style="font-size: 12pt">&#160;</td> <td colspan="3" style="font-size: 12pt">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Oil and gas exploration, production</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; text-indent: 20pt; padding-left: 5.4pt">and operations</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,703,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">2,108,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 5%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">3,449,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">Gas gathering, compression and</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">equipment rental</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">8,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">10,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; text-indent: 10pt; padding-left: 5.4pt">Real estate rental</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,265,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,276,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,323,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 12pt; padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">2,974,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,392,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">4,782,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Corporate and other (3)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">19,696,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">20,506,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">19,616,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Consolidated total assets</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">22,670,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">23,898,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">24,398,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Consolidation </u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The consolidated financial statements include the accounts of Spindletop Oil &#38; Gas Co. and its wholly owned subsidiaries, Prairie Pipeline Co. and Spindletop Drilling Company. All significant inter-company transactions and accounts have been eliminated.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Cash and Cash Equivalents</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company considers all highly liquid instruments with a maturity of three months or less at time of original issuance to be cash equivalents.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Other Investments</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Other short-term and long-term investments consist of certificates of deposit with maturities of more than three months. Carrying amounts approximate fair value.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Allowance for Doubtful Accounts</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company provides an allowance for doubtful accounts equal to the estimated uncollectible portion of accounts receivable. This estimate is based on historical collection experience and a review of the current status of accounts receivable</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Oil and Gas Properties</u></p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company follows the full cost method of accounting for its oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and natural gas reserves are capitalized and accounted for in cost centers, on a country-by-country basis. For each cost center, capitalized costs, less accumulated amortization and related deferred income taxes, shall not exceed an amount (the cost center ceiling) equal to the sum of:</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Arial, Helvetica, Sans-Serif">a)</font></td><td><font style="font-family: Arial, Helvetica, Sans-Serif">The present value of estimated future net revenues computed by applying current prices of oil and natural gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Arial, Helvetica, Sans-Serif">b)</font></td><td><font style="font-family: Arial, Helvetica, Sans-Serif">The cost of properties not being amortized; plus</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Arial, Helvetica, Sans-Serif">c)</font></td><td><font style="font-family: Arial, Helvetica, Sans-Serif">The lower of cost or estimated fair market value of unproven properties included in the costs being amortized; less</font></td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><font style="font-family: Arial, Helvetica, Sans-Serif">d)</font></td><td><font style="font-family: Arial, Helvetica, Sans-Serif">Income tax effects related to differences between the book and tax basis of the properties.</font></td></tr></table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling (as defined), the excess is charged to expense and separately disclosed during the period in which the excess occurs. Amounts required to be written off will not be reinstated for any subsequent increase in the cost center ceiling. </p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Depreciation and amortization for each cost center are computed on a composite unit-of-production method, based on estimated proven reserves attributable to the respective cost center. All costs associated with oil and gas properties are currently included in the base for computation and amortization. Such costs include all acquisition, exploration, development costs and estimated future expenditures for proved undeveloped properties as well as estimated dismantlement and abandonment costs as calculated under the asset retirement obligation category, net of salvage value. All of the Company's oil and gas properties are located within the continental United States.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Gains and losses on sales of oil and gas properties are treated as adjustments of capitalized costs. Gains or losses on sales of property and equipment, other than oil and gas properties, are recognized as part of operations. Expenditures for renewals and improvements are capitalized, while expenditures for maintenance and repairs are charged to operations as incurred.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Property and Equipment</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company, as operator, leases equipment to owners of oil and gas wells, on a month-to-month basis.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company, as operator, transports natural gas through its natural gas gathering systems, in exchange for a fee.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Depreciation is provided in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives (5 to 10 years for rental equipment and natural gas gathering systems, 4 to 5 years for other property and equipment). The straight-line method of depreciation is used for financial reporting purposes, while accelerated methods are used for tax purposes.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Real Estate Property</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company owns land along with a two-story commercial office building which is situated thereon. The Company occupies a portion of the building as its primary corporate headquarters, and leases the remaining space in the</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"> building to non-related third party commercial tenants at prevailing market rates. The Company depreciates the commercial office building using the straight-line method of depreciation for financial statement and income tax purposes.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Investments in Real Estate</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">All investments in real estate holdings are stated at cost or adjusted carrying value. ASC Topic 360, &#8220;Accounting for the Impairment or Disposal of Long-Lived Assets&#8221;, requires that a property be considered impaired if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the property. If impairment exists, an impairment loss is recognized by a charge against earnings equal to the amount by which the carrying amount of the property exceeds fair market value less cost to sell the property. If impairment of a property is recognized, the carrying amount of the property is reduced by the amount of the impairment, and a new cost for the property is established. Depreciation is provided over the properties estimated remaining useful life. There was no charge to earnings during 2020, 2019, or 2018 due to impairment of real estate holdings.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Accounting for Asset Retirement Obligations</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company adopted ASC Topic 410-20, &#34;Accounting for Asset Retirement Obligations&#34; on December 31, 2005. This statement requires the recording of a liability in the period in which an asset retirement obligation (&#34;ARO&#34;) is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter, each quarter, this liability is accreted up to the final retirement cost. The determination of the ARO is based on an estimate of the future cost to plug and abandon our oil and gas wells. The actual costs could be higher or lower than current estimates.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The following table reflects the changes of the asset retirement obligations during the period ending December 31;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2020</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">Carrying amount of asset retirement obligation</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,408,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,324,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Liabilities added</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">32,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">110,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Liabilities divested or settled</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(145,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(146,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Current period accretion expenses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">139,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">120,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt">Carrying amount as of December 31,</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,434,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,408,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Revenue Recognition</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company follows the &#147;sales&#148; (takes or cash) method of accounting for oil and natural gas revenues. Under this method, the Company recognizes revenues on oil and natural gas production as it is taken and delivered to the purchasers. The volumes sold may be more or less than the volumes the Company is entitled to take based on our ownership in the property. These differences result in a condition known as a production imbalance. Our crude oil and natural gas imbalances are insignificant.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Income Taxes</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In June, 2006, an interpretation of ASC Topic 740-10, &#147;Accounting for Uncertainty in Income Taxes&#148; was issued. The interpretation creates a single model to address accounting for uncertainty in tax positions. Specifically, the pronouncement prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition of certain tax positions. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company accounts for income taxes pursuant to ASC Topic 740-10 &#34;Accounting for Income Taxes&#34; , which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities, using enacted tax rates in effect in the years in which the differences are expected to reverse. The temporary differences primarily relate to depreciation, depletion and intangible drilling costs.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Use of Estimates</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The preparation of financial statements in conformity with U. S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Share-Based Payments</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Effective January 1, 2006, the Company adopted ASC Topic 718-10, &#8220;Share-Based Payment&#34;. ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant-date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices or the amount of share-based compensation recognized in earnings.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 14pt 0 12pt"><u>Recently Issued Accounting Pronouncements</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842). The FASB issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The accounting for Lessees relates primarily to finance leases and for operating leases. The Company does not currently have any finance or operating leases as a lessee. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. Under GAAP accounting, lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. The Company does lease space in its commercial office building to third-party tenants under rental lease agreements as the lessor, and recognizes lease income from tenants on a straight-line basis. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. The Company does not anticipate that this new guidance will have a material impact on the Company&#8217;s consolidated financial position or results of operations for the periods presented.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 12pt 0 0; text-align: justify">In May 2014, the Financial Accounting Standards Board (&#34;FASB&#34;) issued Accounting Standards Update (&#34;ASU&#34;) 2014-09, <i>Revenue from Contracts with Customers (Topic 606) </i>(&#34;ASU 2014-09&#34;), which supersedes nearly all existing revenue recognition guidance under existing generally accepted accounting principles.&#160;&#160;This new standard is based upon the principal that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>&#160;</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Revenue from Contracts with Customers</i> &#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Sales of oil, condensate, natural gas and natural gas liquids (&#8220;NGLs&#8221;) are recognized at the time control of the products are transferred to the customer. Based upon the Company&#8217;s current purchasers&#8217; past experience and expertise in the market, collectability is probable, and there have not been payment issues with the Company&#8217;s purchasers over the past year or currently. Generally, the Company&#8217;s gas processing and purchase agreements indicate that the processors take control of the gas at the inlet of the plant and that control of residue gas is returned to the Company at the outlet of the plant. The midstream processing entity gathers and processes the natural gas and remits proceeds to the Company for the resulting sales of NGLs. The Company delivers oil and condensate to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product.&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">When sales volumes exceed the Company&#8217;s entitled share, a production imbalance occurs. If production imbalance exceeds the Company&#8217;s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. Production imbalances have not had and currently do not have a material impact on the financial statements, and this did not change with the adoption of ASC 606.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">Generally, the Company&#8217;s contracts have an initial term of one year or longer but continue month to month unless written notification of termination in a specified time period is provided by either party to the contract. The Company has used the practical expedient in ASC 606 which states that the Company is not required to disclose that transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligation is not required.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>Contract Balances</i> &#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Company receives purchaser statements from the majority of its customers but there are a few contracts where the Company prepares the invoice. Payment is unconditional upon receipt of the statement or invoice. Accordingly, the Company&#8217;s product sales contracts do not give rise to contract assets or liabilities under ASC 606. The majority of the Company&#8217;s contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, whether a well delivers to a gathering or transmission line, quality of the oil or natural gas, and supply and demand conditions. The price of these commodities fluctuates to remain competitive with supply.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>Prior Period Performance Obligations</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Company records revenue in the month production is delivered to the purchaser. Settlement statements may not be received for 30 to 90 days after the date production is delivered, and therefore the Company is required to estimate the amount of production delivered to the purchaser and the price that will be received for the sale of the product. Differences between the Company&#8217;s estimates and the actual amounts received for product sales are generally recorded in the following month that payment is received. Any differences between the Company&#8217;s revenue estimates and actual revenue received historically have not been significant. The Company has internal controls in place for its revenue estimation accrual process.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><i>Impact of Adoption of ASC 606</i></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Company has completed its review of its primary oil and natural gas marketing agreements in order to assess the impact of adoption, and it has assessed that adoption of this standard will not have a material impact on the Company's financial statements because revenue will continue to be recognized as production is delivered.&#160;&#160;The Company adopted this standard in the first quarter of 2018 utilizing the modified retrospective method.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">In August 2016, the FASB issued Accounting Standards Update No 2016-15: Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The FASB issued this Accounting Standards Update to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Currently, there are no other new accounting pronouncements that were issued to be effective in 2020 or subsequent thereto that would have a material impact on the Company&#8217;s financial reporting.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Subsequent Events</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company has evaluated subsequent events through the issuance date of April1 15, 2021.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Subsequent to year-end, the Company applied for and was granted a loan in the amount of $402,573 pursuant to the Paycheck Protection Program (&#8220;PPP&#8221;) under the Coronavirus Aid, Relief and Economic Security Act (&#8220;CARES Act&#8221;), which was enacted March 27, 2020.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><font style="color: #000000">On March 18, 2021, the loan (the &#8220;Loan&#8221;) was funded and matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing after the loan forgiveness determination has been made by the Small Business Administration. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.</font></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The PPP provides that loan principal and accrued interest may be forgiven after a twenty-four-week period if the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company believes it will use the loan proceeds from the loan for purposes consistent with the PPP. While the Company currently believes that its use of the loan proceeds should meet the conditions for forgiveness of at least a portion of the loan, we cannot assure you that the Company will be eligible for forgiveness of the loan, in whole or in part.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Merger and Basis of Presentation</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On July 13, 1990, Prairie States Energy Co., a Texas corporation, (the Company) merged with Spindletop Oil &#38; Gas Co., a Utah corporation (the Acquired Company). The name of Prairie States Energy Co. was changed to Spindletop Oil &#38; Gas Co., a Texas corporation at the time of the merger.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><u>Organization and Nature of Operations</u></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company was organized as a Texas corporation in September 1985, in connection with the Plan of Reorganization (&#34;the Plan&#34;), effective September 9, 1985, of Prairie States Exploration, Inc., (&#34;Exploration&#34;), a Colorado corporation, which had previously filed for Chapter 11 bankruptcy. In connection with the Plan, Exploration was merged into the Company, with the Company being the surviving corporation.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Spindletop Oil &#38; Gas Co. is engaged in the exploration, development and production of oil and natural gas; and through one of its subsidiaries, the gathering and marketing of natural gas.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters. The Company leases the remaining space in the building to non-related third party commercial tenants at prevailing market rates.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></p> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, 2020</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">First<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Second<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Third<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Fourth<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenue</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">964,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">548,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,135,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,532,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expense</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,320,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,055,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,006,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">(2,032,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Operating income (loss)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(356,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(507,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">129,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left"></td><td style="text-align: right">(500,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Current tax (provision) benefit</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">61,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">113,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(43,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left"></td><td style="text-align: right">60,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Deferred tax (provision) benefit</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">23,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(28,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">17,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left"></td><td style="border-bottom: Black 1pt solid; text-align: right">137,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(272,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(422,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">103,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(303,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Earnings (loss) per share of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">common stock</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Basic and diluted</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.04</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.02</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Courier New, Courier, Monospace; margin: 0; text-indent: 0.5in"></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, 2019</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">First<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Second<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Third<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Fourth<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenue</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,395,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,487,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,340,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,365,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expense</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,441,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,714,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,566,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,615,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Operating income (loss)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(46,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(227,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(226,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(250,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Current tax (provision) benefit</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">24,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(58,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(1,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Deferred tax (provision) benefit</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">71,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">80,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">98,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(107,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">21,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(123,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(186,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(358,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Earnings (loss) per share of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">common stock</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Basic and diluted</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.02</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.03</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.04</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 12pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="15" style="border-bottom: Black 1pt solid; text-align: center">Year Ended December 31, 2018</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 12pt; padding-bottom: 1pt; padding-left: 5.4pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">First<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Second<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Third<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><font style="font: 10pt Arial, Helvetica, Sans-Serif">Fourth<br /> Quarter</font></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenue</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,631,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">2,063,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,479,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,561,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Expense</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,381,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,574,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(1,304,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(2,108,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Operating income (loss)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">250,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">489,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">175,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(547,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Current tax (provision) benefit</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(66,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(17,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(98,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(43,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Deferred tax (provision) benefit</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">121,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">230,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(172,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(58,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net income (loss)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">305,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">702,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(95,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(648,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Earnings (loss) per share of</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: 10pt; padding-left: 5.4pt">common stock</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt">&#160;</td> <td style="font-size: 12pt; text-align: left">&#160;</td><td style="font-size: 12pt; text-align: right">&#160;</td><td style="font-size: 12pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: 20pt; padding-left: 5.4pt">Basic and diluted</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.04</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">0.10</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.01</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">$</td><td style="text-align: right">(0.09</td><td style="text-align: left">)</td></tr> </table> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters. 15229000 7480000 795000 295000 3190000 2613000 83000 274000 19297000 10662000 26938000 26928000 412000 412000 115000 115000 315000 315000 27780000 27770000 25664000 26061000 2116000 1709000 688000 688000 1580000 1624000 992000 1047000 1276000 1265000 1150000 8825000 6005000 5714000 1408000 1434000 1408000 1434000 7413000 7148000 77000 77000 943000 943000 1806000 1874000 17271000 16376000 23898000 22670000 258000 315000 233000 136000 125000 89000 232000 248000 272000 181000 193000 216000 79000 75000 42000 1656000 1754000 1324000 835000 828000 675000 49000 32000 9000 196000 179000 174000 499000 456000 452000 2943000 2967000 2640000 -121000 -142000 -149000 103000 -103000 -340000 6925511 6809602 6771094 499000 456000 452000 -16000 -325000 577000 24000 152000 -191000 249000 148000 -291000 -56000 -149000 -121000 -86000 6000 -1000 1088000 -231000 -761000 19000 7675000 1523000 918000 1511000 1856000 -7823000 -270000 335000 2329000 1625000 -8249000 12070000 14399000 16024000 7775000 189000 120000 139000 403000 2271000 2427000 3341000 2914000 393000 373000 6005000 5714000 <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">5. NOTES PAYABLE</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">On May 1, 2020, the Company was granted a loan (the &#8220;Loan&#8221;) in the amount of $402,573 pursuant to the Paycheck Protection Program (&#8220;PPP&#8221;) under the Coronavirus Aid, Relief and Economic Security Act (&#8220;CARES Act&#8221;), which was enacted March 27, 2020.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The Loan, which is in the form of a note dated April 9, 2020 issued by the Company, matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing on November 9, 2020. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">The PPP provides that loan principal and accrued interest may be forgiven after either an eight-week period or a twenty-four-week period as long as the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&#160;</p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">Effective December 9, 2020, the Company received notice from its bank that the Small Business Administration has authorized full forgiveness of the Company&#8217;s Paycheck Protection Program loan in the amount of $402,573. The amount of the loan which was fully forgiven is recorded as debt forgiveness income on the Company&#8217;s Consolidated Statements of Operations for the year ended December 31, 2020.</p> 0.0098 402573 2.13 1.25 1.25 152000 105000 145000 153000 4000 4000 47000 52000 348000 314000 292000 109000 292000 109000 56000 205000 77000 -157000 -259000 233000 9000 -68000 303000 193000 224000 39000 -191000 224000 39000 -191000 200000 60000 -45000 -36000 -113000 965000 1168000 21000 579000 1523000 918000 1896000 1876000 1876000 25996000 25062000 25052000 27892000 26938000 26928000 24454000 24848000 25241000 3438000 2090000 1687000 354000 214000 22000 191000 72000 97000 545000 286000 119000 2000000 2582000 2491000 530000 1655000 2918000 5.16 3.97 3.15 2.20 2.21 2.15 125000 136000 89000 32000 49000 9000 91000 86000 79000 47000 29000 6000 242000 203000 116000 14000 18000 16000 35572000 22235000 10020000 17830000 9167000 6284000 17742000 13068000 3736000 -2661000 -1960000 -560000 15081000 11108000 3176000 -4030000 -5010000 -609000 9794000 11051000 6098000 2567000 -3194000 -1950000 -879000 2171000 -3558000 -963000 475000 17000 181000 68000 92000 284000 203000 -963200 33000 20000 28664 979000 1105000 610000 -103000 -276000 777000 431000 -582000 -2233464 403000 77000 12000 44000 3000 4000 4601000 12008000 1209000 9034000 320000 251000 104000 308000 1208000 250000 270000 68000 Seven, $5,000 single-well Seven Letters of credit EX-101.SCH 8 spnd-20201231.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Consolidated Statements of Changes in Shareholders Equity link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Account Receivable link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Accounts Payable link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Notes Payable link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Common Stock link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Income Taxes link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Cash Flow Information link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Earnings Per Share link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Concentration of Credit Risk link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Financial Instruments link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Additional Operations and Balance Sheet Information link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Business Segments link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Supplementory Income Statement link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Quarterly Data link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Supplemental Reserve Information link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Basis of Presentation (Policies) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Account Receivable (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Accounts Payable (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Income Taxes (Tables) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Cash Flow Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Financial Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Additional Operations and Balance Sheet Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Business Segments (Tables) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - Supplementory Income Statement (Tables) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - Quarterly Data (Tables) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - Supplemental Reserve Information (Tables) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - Basis of Presentation (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - Summary of Significant Accounting Policies (Details Narrative 1) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - Summary of Significant Accounting Policies (Details Narrative 2) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - Account Receivable (Details) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - Accounts Payable - Accounts Payable (Details) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - Notes Payable (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - Related Party Transactions (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - Common Stock (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - Income Taxes - Income Tax Expense (Benefit) (Details) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - Income Taxes - Deferred Tax (Details) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - Income Taxes (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - Cash Flow Information - Cash Flow (Details) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - Concentration of Credit Risk (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - Financial Instruments - Financial Instruments (Details) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - Commitments and Contingencies (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000054 - Disclosure - Additional Operations and Balance Sheet Information - Significant purchasers / operators (Details) link:presentationLink link:calculationLink link:definitionLink 00000055 - Disclosure - Additional Operations and Balance Sheet Information - Revenues, costs and expenses related to the Company's oil and gas operations (Details) link:presentationLink link:calculationLink link:definitionLink 00000056 - Disclosure - Additional Operations and Balance Sheet Information (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000057 - Disclosure - Additional Operations and Balance Sheet Information (Details 3) link:presentationLink link:calculationLink link:definitionLink 00000058 - Disclosure - Additional Operations and Balance Sheet Information (Details 4) link:presentationLink link:calculationLink link:definitionLink 00000059 - Disclosure - Additional Operations and Balance Sheet Information (Details 5) link:presentationLink link:calculationLink link:definitionLink 00000060 - Disclosure - Business Segments - Business Segments (Details) link:presentationLink link:calculationLink link:definitionLink 00000061 - Disclosure - Supplementory Income Statement - Supplementary Income statement (Details) link:presentationLink link:calculationLink link:definitionLink 00000062 - Disclosure - Quarterly Data - Quarterly Data (Details) link:presentationLink link:calculationLink link:definitionLink 00000063 - Disclosure - Supplemental Reserve Information (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000064 - Disclosure - Supplemental Reserve Information (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000065 - Disclosure - Supplemental Reserve Information (Details 3) link:presentationLink link:calculationLink link:definitionLink 00000066 - Disclosure - Supplemental Reserve Information (Details 4) link:presentationLink link:calculationLink link:definitionLink 00000067 - Disclosure - Supplemental Reserve Information (Details 5) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 spnd-20201231_cal.xml XBRL CALCULATION FILE EX-101.DEF 10 spnd-20201231_def.xml XBRL DEFINITION FILE EX-101.LAB 11 spnd-20201231_lab.xml XBRL LABEL FILE Receivable Type [Axis] Trade Receivables [Member] Accrued Receivables [Member] Related Party Transaction [Axis] Giant [Member] NRG [Member] Peveler [Member] MRV [Member] Reserve [Member] Ceded Credit Risk, Reinsurer [Axis] Single-well bonds [Member] Single-well bonds Additional Letters of Credit [Member] Oil and Gas Delivery Commitments and Contracts [Axis] Sunoco Partners Marketing [Member] Enervest Operating, LLC [Member] Enlink Gas Marketing, LTD [Member] LPC Crude Oil Marketing LLC [Member] Oil and gas exploration, acquisition, production and operations [Member] Gas Gathering [Member] Segments [Axis] Gas gathering, compression and equipment rental [Member] Commercial real estate investment [Member] Subtotal [Member] Corporate and other [Member] Commercial real estate investment Crude Oil Bbls [Member] OXY USA, Inc. [Member] Valero Energy Corporation [Member] Phillps 66 [Member] DCP Midstream, LP [Member] Natural Gas Mcf [Member] Equity Components [Axis] Common Stock Additional Paid-In Capital Treasury Stock Retained Earnings [Member] Letters of Credit Additional [Member] Range [Axis] Minimum [Member] Maximum [Member] Targa Midstream Services, LLC [Member] ETX Energy, LLC formerly New Gulf Resources [Member] Eastex Crude Company [Member] Shell Trading (US) Company[Member] Midcoast Energy Partners LP[Member] Pruet Production Co.[Member] ETC Texas Pipeline, Ltd [Member] Oasis Transportation and Marketing Group [Member] Sandridge Energy, Inc.[Member] Empire Pipeline Corp..[Member] XTO Energy, Inc.[Member] Enterprise Crude Oil, LLC[Member] Range Resources Corporation[Member] Webb Energy Resources, Inc.[Member] Federal Home Loan Bank Branch [Axis] Bank One [Member] Bank Two [Member] Bank Three [Member] Bank Four [Member] Investment Type [Axis] Certificate of Deposit [Member] Ace Gathering, Inc.[Member] Barnett Gathering.L.P.[Member] Qualified Intermediary [Member] Land and Natural Resources DevelopmentMember] Devon OEI Operating, Inc Member] FDL Operating LLC [Member] Bedrock Producation LLC [Member] Peveler Pipeline ,LP [Member] Hunt Crude Oil Supply[Member] Enlink Crude Purchasing, LLC [Member] Class of Stock [Axis] Treasury Stock [Member] Eagle Ridge Operating, Inc.[Member] Ediner Engineering Inc.[Member] Lion Oil Trading and Transportation [Member] Devon OEI Operating, Inc. [Member] Dorado Oil Company [Member] BP America Production Company [Member] Camino [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Small Business Entity Emerging Growth Company Entity Transition Period Entity Shell Business Entity Interactive Data Entity Public Float Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Amendment Statement of Financial Position [Abstract] ASSETS Current Assets Cash and cash equivalents Restricted cash Accounts receivable Income tax receivable Total Current Assets Property and Equipment - at cost Oil and gas properties (full cost method) Rental equipment Gas gathering system Other property and equipment Total Property and Equipment Accumulated depreciation and amortization Total Property and Equipment, Net Real Estate Property - at cost Land Commercial office building Accumulated depreciation Total Real Estate Property Other Assets Deferred Income Tax Asset Other long-term investments Other Total Other Assets Total NonCurrent Assets Total Assets LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities Notes payable, Paycheck Protection Program Total Current Liabilities Noncurrent Liabilities Asset retirement obligation Total Noncurrent Liabilities Deferred Income Tax Payable Total Liabilities Shareholders' Equity Common stock, $.01 par value, 100,000,000 shares authorized; 7,677,471 shares issued and 6,755,318 and 6,809,602 shares outstanding at December 31, 2020 and at December 31, 2019. Additional paid-in capital Treasury stock, at cost Retained earnings Total Shareholders' Equity Total Liabilities and Shareholders' Equity Common Stock, Par Value $0.01 Common Stock, Par Value Common Stock, Shares Authorized Common Stock, Shares Issued Common Stock, Shares Outstanding Income Statement [Abstract] Revenues Oil and gas revenues Revenue from lease operations Gas gathering, compression, equipment rental Real estate rental income Interest Income Debt forgiveness income Other Total Revenues Expenses Lease operations Production taxes, gathering and marketing Pipeline and rental operations Real estate operations Depreciation and amortization ARO accretion expense General and administrative Total Expenses Income (Loss) Before Income Tax Current income tax provision (benefit) Deferred income tax provision (benefit) Total income tax provision (benefit) Net Income (Loss) Earnings (Loss) per Share of Common Stock Basic and Diluted Weighted Average Shares Outstanding Basic and Diluted Statement [Table] Statement [Line Items] Beginning Balance, Amount Beginning Balance, Shares Purchase shares of Common Stock as Treasury Stock, Amount Purchase shares of Common Stock as Treasury Stock, Shares Net loss Ending Balance, Amount Enidng Balance, shares Statement of Cash Flows [Abstract] Cash Flows from Operating Activities Net (Loss) Reconciliation of net Income (Loss) to net cash provided by operating activities Depreciation and amortization Impairment of oil and gas properties Accretion of asset retirement obligation Insurance proceeds received for environmental remediation Gain on insurance proceeds received Changes in accounts receivable Changes in income tax receivable Changes in accts payable & accrued liabilities Forgiveness of SBA Paycheck Protection Loan Changes in deferred Income tax asset Changes in deferred income tax payable Other Net cash provided (used) for operating activities Cash Flows from Investing Activities Capitalized acquisition, exploration and development Purchase of other property and equipment Other long-term investments Other long-term investments Proceeds from sale of oil and gas properties Capitalized tenant improvements and broker fees Net cash used for investing activities Cash Flows from Financing Activities Purchase shares of treasury stock Proceeds from SBA Paycheck Protection Loan program Net cash used for financing activities Increase (decrease) in cash, cash equivalents, and restricted cash Cash, cash equivalents, and restricted cash at beginning of period Cash, cash equivalents, and restricted cash at end of period Accounting Policies [Abstract] Basis of Presentation Summary of Significant Accounting Policies Notes to Financial Statements Account Receivable Payables and Accruals [Abstract] Accounts Payable Debt Disclosure [Abstract] Notes Payable Related Party Transactions [Abstract] Related Party Transactions Equity [Abstract] Common Stock Income Tax Disclosure [Abstract] Income Taxes Supplemental Cash Flow Elements [Abstract] Cash Flow Information Earnings Per Share [Abstract] Earnings Per Share Risks and Uncertainties [Abstract] Concentration of Credit Risk Investments, All Other Investments [Abstract] Financial Instruments Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Organization, Consolidation and Presentation of Financial Statements [Abstract] Additional Operations and Balance Sheet Information Segment Reporting [Abstract] Business Segments Supplementory Income Statement Quarterly Financial Information Disclosure [Abstract] Quarterly Data Supplemental Reserve Information Merger and Basis of Presentation Organization and Nature of Operations FASB Accounting Standards Codification Consolidation Cash and Cash Equivalents Other Investments Allowance for Doubtful Accounts Oil and Gas Properties Property and Equipment Real Estate Property Investments in Real Estate Accounting for Asset Retirement Obligations Revenue Recognition Income Taxes Use of Estimates Share-Based Payments Recently Issued Accounting Pronouncements Subsequent Events Asset Retirement Obligation Accounts Receivable Accounts Payable Income Tax Expense (Benefit) Deferred Tax Cash Flow Financial Instruments Significant purchasers / operators Revenues, costs and expenses related to the Company's oil and gas operations Business Segments Supplementary Income statement Quarterly Data Quantities of Proved Reserves Standardized measure of discounted future net cash flows related to proved reserves: Changes in the standardized measure of discounted future net cash flows: Allowance for doubtful accounts Real Estate Real Estate reconciliation Basis Of Presentation Rental square feet Summary Of Significant Accounting Policies Impairment of oil & gas properties Carrying amount of asset retirement obligation Liabilities added Liabilities divested or settled Current period accretion expenses Carrying amount as of December 31, Schedule of Acquired Finite-Lived Intangible Asset by Major Class [Table] Acquired Finite-Lived Intangible Assets [Line Items] Major Property Class [Axis] Rental Properties [Member] Statistical Measurement [Axis] Estimated life Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Accounts, Notes, Loans and Financing Receivable [Line Items] Account receivable, gross Less: Allowance for losses Accounts receivable, trade Trade payables Production proceeds payable Prepaid drilling costs Accounts payable and accrued liabilities Loan Interest rate Schedule of Related Party Transactions, by Related Party [Table] Related Party Transaction [Line Items] MRO [Member] Monthly Fees Repurchase shares of Common Stock as Treasury Stock, Amount Repurchase shares of Common Stock as Treasury Stock, Shares Restricted common stock, issued Price per share Treasury stock, outstanding Computed expected tax expense (benefit) Miscellaneous timing differences related to book and tax depletion differences and the expensing of intangible drilling costs NOL Carryforward Gain on sale of oil and gas properties' Expired and surrendered leases Correction of prior year estimate Expected Federal income tax expense (benefit) Current income tax provision (benefit) Deferred tax assets Depletion and amortization Expired leasehold Other, net Depreciation Net deferred tax asset Deferred tax liabilities Intangible drilling costs Installment sale income Depreciation Total deferred tax liability Net deferred tax liability Net deferred tax asset Payments to unsecured creditors Owed to unsecured creditors Effective tax rate Provisional deferred tax expense Deferred tax balances due to the rate reduction Net cash provided by operating activities includes cash payments for the following: Interest expense Income taxes Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows: Addition (Reductions) of oil & gas properties by recognitions of asset retirement obligation Proceeds from sales of oil and gas properties Capital acquisition under IRC Section 1031 Qualified Intermediary accounts receivable Qualified Intermediary accounts receivable Negotiated settlements Non-cash investing and financing activities Concentration Risk [Table] Concentration Risk [Line Items] FDIC Insured FIDC Insured Checking and money market accounts Long term investments Certificates of Deposits Cash, Fair Value Restricted cash, Fair Value Other long-term investments, Fair Value Accounts receivable, Fair Value Other Commitments [Table] Other Commitments [Line Items] Single-well bonds Schedule of Product Information [Table] Product Information [Line Items] Significant Purchaser Capitalized costs relating to oil and gas producing activities: Unproved properties Proved properties Total capitalized costs Accumulated amortization Total capitalized costs, net Costs incurred in oil and gas property acquisitions, exploration and development: Acquisition of properties Development costs Total costs incurred Result of operations from producing activities: Production costs Amortization of oil and gas properties Total production costs Total net revenue Sales price per equivalent Mcf Production costs per equivalent Mcf Amortization per equivalent Mcf Oil and Gas, Present Activity [Table] Oil and Gas, Present Activity [Line Items] Results of operations from gas gathering and equipment rental activities: Revenue Operating costs Amortization/Depreciation Total net revenue Schedule of Segment Reporting Information, by Segment [Table] Segment Reporting Information [Line Items] Impairment of oil and gas assets[Member] Revenue Depreciation, depletion, and amortization Income from operations Identifiable assets net of DDA Income Statement Related Disclosures [Abstract] Maintenance and repairs Production taxes Taxes, other than payroll and income taxes Total Revenues Expense Operating income (loss) Current tax (provision) benefit Deferred tax (provision) benefit Net income (loss) Earnings (loss) per share of common stock Basic and diluted Quantities of Proved Reserves: Supplemental Reserve Information Beginning Balance Sales of reserves in place Acquired properties Extensions and discoveries Revisions of previous estimates * Production Ending Balance Proved Developed Reserves: Proved Developed Reserves Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves [Abstract] Standardized measure of discounted future net cash flows related to proved reserves: Future production revenue Future development costs Future production costs Future net cash flow before Federal income taxes Future income taxes Future net cash flows Effect of 10% annual discounting Standardized measure of discounted cash flows Changes in the standardized measure of discounted future net cash flows: Beginning of the year Sales of oil and gas, net of production costs Net changes in prices and production costs Extensions, discoveries, additions less related costs Development costs incurred Net changes in future development cost Revisions of previous quantity estimates Net change in purchase and sales of minerals in place Accretion of discount Net change in income taxes Other End of the year Supplemental Reserve Information Allowance for doubtful accounts Supplemental Reserve Information Buildings Acquisition Costs Investment in real estate Acquistions in real estate Investment in real estate Accumulated depreciation Depreciation Expense Accumulated depreciation Accumulated Depreciation for Real Estate Ace Gathering Inc. Member Amortization Of Oil And GasProperties Asset Obligiation Liabilities Divested Or Settled Asset Retirement Liabilities Added Bank Time Deposits 2 Member Bank Time Deposits 3 Member Bank Time Deposits 4 Member Barnett Gathering L.P.Member Bedrock Production LLC Member Commercial Office Building Common Stock Par Value 0.01 Abstract Courson Oil GasInc Member DCP Midstream LP Member Deferred Income Taxes And Tax Credits Due To Rate Reduction Devon OEI Operating Inc Member ETC Texas Pipeline Ltd Member ETX Energy LLC formerly New Gulf Resources Member Eastex Crude Company Member Empire Pipeline Corp Member Enervest Operating LLC Member Enlink Curde Purchasing LLC Member Enlink Gas Marketing LTD Member Enterprise Crude Oil LLC Member FDIC Insured Commentary FDL Operating LLC Member Future Net Cash Flow Before Federal Income Taxes Gas Gathering And Equipment Rental Net Revenue Gas Gathering Compression Equip Rental Gas Gathering System Giant Member Hunt Crude Oil Supply Member Impairment Of Oil And Gas Assets Member Insurance Proceeds Received For Environmental Remediation LPC Crude Oil Marketing LLC Member Land and Natural Resources Development Member Lease Operations Letter Of Credit Additional Member Lucid Energy Group II Member MRO Member MRV Member Midcoast Energy Partners LP Member NRG Member Natural Gas Mcf Member Net Changes In Estimated Future Development Costs Oil And Gas Net Revenue Oxy Usa Inc Member Peveler Member Peveler Pipeline LP Member Phillips 66 Member Phillps 66 Member Pipeline And Rental Operations Prepaid Drilling Costs Production Proceeds Payable Production Taxes Gathering And Marketing Pruet Production Co Member Qualified Intermediary Accounts Receivable Member Range Resources Corporation Member Real Estate Property At Cost Abstract Rental Equipment Renta lSquare Feet Reserve Member Restricted Cash Fair Value Results Of Operations From Gas Gathering And Equipment Rental Activities Sandridge Energy Inc Member Segment Current Tax Provision Benefit Segment Revenues Shell Trading US Company Member Single Well Bonds Additional Member Single Well Bonds Member Standarized Measure Accretion Of Discount Subtotal Member Sunoco Partners Marketing Member Supplemental Reserve Information Supplemental Reserve Information Text Block Supplementory Income Statement Text Block Targa Midstream Services LLC Member Total Real Estate Property Valero Energy Corporation Member Ward Petroleum Corporation Member Ward Petrolum Corporation Member Webb Energy Resources Inc Member Weighted Average Shares Outstanding Basic And Diluted White Knight Production LLC Member XTO Energy Inc Member Oasis Transportation Marketing Group Member Assets, Current Property, Plant and Equipment, Gross Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Property, Plant and Equipment, Net Accumulated depreciation TotalRealEstateProperty Other Assets, Noncurrent Assets, Noncurrent Liabilities, Current Liabilities, Noncurrent Liabilities Treasury Stock, Value Stockholders' Equity Attributable to Parent Liabilities and Equity Other Income Income Tax Expense (Benefit) [Default Label] Shares, Outstanding Depreciation, Depletion and Amortization, Nonproduction Increase (Decrease) in Other Operating Assets Net Cash Provided by (Used in) Operating Activities CapitalizedAcquisitionExplorationAndDevelopment Payments to Acquire Productive Assets Payments to Acquire Long-term Investments Proceeds from Sale of Long-term Investments CapitalizedTenantImprovementsAndBrokerFees Net Cash Provided by (Used in) Investing Activities Payments for Repurchase of Equity Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Cash Equivalents, at Carrying Value Stockholders' Equity Note Disclosure [Text Block] Income Tax, Policy [Policy Text Block] Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] Business Combination, Segment Allocation [Table Text Block] Quarterly Financial Information [Table Text Block] Asset Retirement Obligation [Default Label] Accounts Receivable, Allowance for Credit Loss, Current Effective Income Tax Rate Reconciliation, Deduction, Qualified Production Activity, Amount Current Income Tax Expense (Benefit) Deferred Tax Assets, Net of Valuation Allowance Deferred Tax Liabilities, Goodwill and Intangible Assets Deferred Tax Liabilities, Investments Deferred Tax Liabilities, Deferred Expense, Reserves and Accruals Deferred Tax Liabilities, Gross Payments for Capital Improvements Noncash or Part Noncash Acquisition, Other Liabilities Assumed Noncash or Part Noncash Acquisition, Net Nonmonetary Assets Acquired (Liabilities Assumed) Capitalized Costs, Oil and Gas Producing Activities, Gross Capitalized Costs, Accumulated Depreciation, Depletion, Amortization and Valuation Allowance Relating to Oil and Gas Producing Activities Capitalized Costs, Oil and Gas Producing Activities, Net Costs Incurred, Oil and Gas Property Acquisition, Exploration, and Development Activities Production and Distribution Costs Tax savings benefit Gas gathering system [Default Label] Tax savings benefit [Default Label] TotalOtherAssets Proved Developed and Undeveloped Reserves, Net Proved Developed and Undeveloped Reserves, Sales of Minerals in Place Proved Developed and Undeveloped Reserves, Production Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Development Costs Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Production Costs Standardized Measure of Discounted Future Net Cash Flow of Proved Oil and Gas Reserves, Other Accounts Receivable, Allowance for Credit Loss Real Estate Investments, Net Property, Plant and Equipment, Other, Accumulated Depreciation EX-101.PRE 12 spnd-20201231_pre.xml XBRL PRESENTATION FILE XML 13 R1.htm IDEA: XBRL DOCUMENT v3.21.1
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2020
Apr. 15, 2021
Jun. 30, 2020
Document And Entity Information      
Entity Registrant Name SPINDLETOP OIL & GAS CO    
Entity Central Index Key 0000867038    
Document Type 10-K    
Document Period End Date Dec. 31, 2020    
Amendment Flag false    
Current Fiscal Year End Date --12-31    
Is Entity a Well-known Seasoned Issuer? No    
Is Entity a Voluntary Filer? No    
Is Entity's Reporting Status Current? Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Business false    
Entity Interactive Data Yes    
Entity Public Float     $ 1,709,031
Entity Common Stock, Shares Outstanding   6,755,318  
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2020    
XML 14 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 7,480,000 $ 15,229,000
Restricted cash 295,000 795,000
Accounts receivable 2,613,000 3,190,000
Income tax receivable 274,000 83,000
Total Current Assets 10,662,000 19,297,000
Property and Equipment - at cost    
Oil and gas properties (full cost method) 26,928,000 26,938,000
Rental equipment 412,000 412,000
Gas gathering system 115,000 115,000
Other property and equipment 315,000 315,000
Total Property and Equipment 27,770,000 27,780,000
Accumulated depreciation and amortization (26,061,000) (25,664,000)
Total Property and Equipment, Net 1,709,000 2,116,000
Real Estate Property - at cost    
Land 688,000 688,000
Commercial office building 1,624,000 1,580,000
Accumulated depreciation (1,047,000) (992,000)
Total Real Estate Property 1,265,000 1,276,000
Other Assets    
Deferred Income Tax Asset 205,000 56,000
Other long-term investments 8,825,000 1,150,000
Other 4,000 3,000
Total Other Assets 9,034,000 1,209,000
Total NonCurrent Assets 12,008,000 4,601,000
Total Assets 22,670,000 23,898,000
Current Liabilities    
Accounts payable and accrued liabilities 5,714,000 6,005,000
Notes payable, Paycheck Protection Program
Total Current Liabilities 5,714,000 6,005,000
Noncurrent Liabilities    
Asset retirement obligation 1,434,000 1,408,000
Total Noncurrent Liabilities 1,434,000 1,408,000
Total Liabilities 7,148,000 7,413,000
Shareholders' Equity    
Common stock, $.01 par value, 100,000,000 shares authorized; 7,677,471 shares issued and 6,755,318 and 6,809,602 shares outstanding at December 31, 2020 and at December 31, 2019. 77,000 77,000
Additional paid-in capital 943,000 943,000
Treasury stock, at cost (1,874,000) (1,806,000)
Retained earnings 16,376,000 17,271,000
Total Shareholders' Equity 15,522,000 16,485,000
Total Liabilities and Shareholders' Equity $ 22,670,000 $ 23,898,000
XML 15 R3.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2020
Dec. 31, 2019
Common Stock, Par Value $0.01    
Common Stock, Par Value $ 0.01 $ 0.01
Common Stock, Shares Authorized 100,000,000 100,000,000
Common Stock, Shares Issued 7,677,471 7,677,471
Common Stock, Shares Outstanding 6,755,318 6,809,602
XML 16 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Oil and gas revenues $ 2,924,000 $ 4,631,000 $ 5,848,000
Revenue from lease operations 233,000 315,000 258,000
Gas gathering, compression, equipment rental 89,000 125,000 136,000
Real estate rental income 272,000 248,000 232,000
Interest Income 216,000 193,000 181,000
Debt forgiveness income 403,000
Other 42,000 75,000 79,000
Total Revenues 4,179,000 5,587,000 6,734,000
Expenses      
Lease operations 1,324,000 1,754,000 1,656,000
Production taxes, gathering and marketing 675,000 828,000 835,000
Pipeline and rental operations 9,000 32,000 49,000
Real estate operations 174,000 179,000 196,000
Depreciation and amortization 452,000 456,000 499,000
ARO accretion expense 139,000 120,000 189,000
General and administrative 2,640,000 2,967,000 2,943,000
Total Expenses 5,413,000 6,336,000 6,367,000
Income (Loss) Before Income Tax (1,234,000) (749,000) 367,000
Current income tax provision (benefit) (191,000) 39,000 224,000
Deferred income tax provision (benefit) (149,000) (142,000) (121,000)
Total income tax provision (benefit) (340,000) (103,000) 103,000
Net Income (Loss) $ (894,000) $ (646,000) $ 264,000
Earnings (Loss) per Share of Common Stock Basic and Diluted $ (0.13) $ (0.09) $ 0.04
Weighted Average Shares Outstanding Basic and Diluted 6,771,094 6,809,602 6,925,511
XML 17 R5.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Changes in Shareholders Equity - USD ($)
Common Stock
Additional Paid-In Capital
Treasury Stock
Retained Earnings [Member]
Beginning Balance, Amount at Dec. 31, 2017 $ 77,000 $ 943,000 $ (1,536,000) $ 17,653,000
Beginning Balance, Shares at Dec. 31, 2017 7,677,471      
Purchase shares of Common Stock as Treasury Stock, Amount     $ (270,000)  
Purchase shares of Common Stock as Treasury Stock, Shares     126,667  
Net loss       264,000
Ending Balance, Amount at Dec. 31, 2018 $ 77,000 943,000 $ (1,806,000) 17,917,000
Enidng Balance, shares at Dec. 31, 2018 7,677,471   867,869  
Net loss       (646,000)
Ending Balance, Amount at Dec. 31, 2019 $ 77,000 943,000 $ (1,806,000) 17,271,000
Enidng Balance, shares at Dec. 31, 2019 7,677,471   867,869  
Purchase shares of Common Stock as Treasury Stock, Amount     $ (68,000)  
Purchase shares of Common Stock as Treasury Stock, Shares     54,284  
Net loss       (894,000)
Ending Balance, Amount at Dec. 31, 2020 $ 77,000 $ 943,000 $ (1,874,000) $ 16,376,000
Enidng Balance, shares at Dec. 31, 2020 7,677,471   922,153  
XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net (Loss) $ (894,000) $ (646,000) $ 264,000
Reconciliation of net Income (Loss) to net cash provided by operating activities      
Depreciation and amortization 452,000 456,000 499,000
Impairment of oil and gas properties  
Accretion of asset retirement obligation 139,000 120,000 189,000
Insurance proceeds received for environmental remediation  
Gain on insurance proceeds received  
Changes in accounts receivable 577,000 (325,000) (16,000)
Changes in income tax receivable (191,000) 152,000 24,000
Changes in accts payable & accrued liabilities (291,000) 148,000 249,000
Forgiveness of SBA Paycheck Protection Loan (403,000)
Changes in deferred Income tax asset (149,000) (56,000)
Changes in deferred income tax payable (86,000) (121,000)
Other (1,000) 6,000
Net cash provided (used) for operating activities (761,000) (231,000) 1,088,000
Cash Flows from Investing Activities      
Capitalized acquisition, exploration and development (104,000) (251,000) (320,000)
Purchase of other property and equipment (19,000)
Other long-term investments (7,675,000)    
Other long-term investments   1,208,000 308,000
Proceeds from sale of oil and gas properties 918,000 1,523,000
Capitalized tenant improvements and broker fees (44,000)
Net cash used for investing activities (7,823,000) 1,856,000 1,511,000
Cash Flows from Financing Activities      
Purchase shares of treasury stock (68,000) (270,000)
Proceeds from SBA Paycheck Protection Loan program 403,000    
Net cash used for financing activities 335,000 (270,000)
Increase (decrease) in cash, cash equivalents, and restricted cash (8,249,000) 1,625,000 2,329,000
Cash, cash equivalents, and restricted cash at beginning of period 16,024,000 14,399,000 12,070,000
Cash, cash equivalents, and restricted cash at end of period $ 7,775,000 $ 16,024,000 $ 14,399,000
XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Basis of Presentation
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Basis of Presentation

1. BASIS OF PRESENTATION AND ORGANIZATION

 

Merger and Basis of Presentation

 

On July 13, 1990, Prairie States Energy Co., a Texas corporation, (the Company) merged with Spindletop Oil & Gas Co., a Utah corporation (the Acquired Company). The name of Prairie States Energy Co. was changed to Spindletop Oil & Gas Co., a Texas corporation at the time of the merger.

 

Organization and Nature of Operations

 

The Company was organized as a Texas corporation in September 1985, in connection with the Plan of Reorganization ("the Plan"), effective September 9, 1985, of Prairie States Exploration, Inc., ("Exploration"), a Colorado corporation, which had previously filed for Chapter 11 bankruptcy. In connection with the Plan, Exploration was merged into the Company, with the Company being the surviving corporation.

 

Spindletop Oil & Gas Co. is engaged in the exploration, development and production of oil and natural gas; and through one of its subsidiaries, the gathering and marketing of natural gas.

 

The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters. The Company leases the remaining space in the building to non-related third party commercial tenants at prevailing market rates.

XML 20 R8.htm IDEA: XBRL DOCUMENT v3.21.1
Summary of Significant Accounting Policies
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

A summary of the significant accounting policies consistently applied in the preparation of the accompanying financial statements follows:

 

Consolidation

 

The consolidated financial statements include the accounts of Spindletop Oil & Gas Co. and its wholly owned subsidiaries, Prairie Pipeline Co. and Spindletop Drilling Company. All significant inter-company transactions and accounts have been eliminated.

 

Cash and Cash Equivalents

 

The Company considers all highly liquid instruments with a maturity of three months or less at time of original issuance to be cash equivalents.

 

Other Investments

 

Other short-term and long-term investments consist of certificates of deposit with maturities of more than three months. Carrying amounts approximate fair value.

 

Allowance for Doubtful Accounts

The Company provides an allowance for doubtful accounts equal to the estimated uncollectible portion of accounts receivable. This estimate is based on historical collection experience and a review of the current status of accounts receivable.

  

Oil and Gas Properties

 

The Company follows the full cost method of accounting for its oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and natural gas reserves are capitalized and accounted for in cost centers, on a country-by-country basis. For each cost center, capitalized costs, less accumulated amortization and related deferred income taxes, shall not exceed an amount (the cost center ceiling) equal to the sum of:

a)The present value of estimated future net revenues computed by applying current prices of oil and natural gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus
b)The cost of properties not being amortized; plus
c)The lower of cost or estimated fair market value of unproven properties included in the costs being amortized; less
d)Income tax effects related to differences between the book and tax basis of the properties.

 

If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling (as defined), the excess is charged to expense and separately disclosed during the period in which the excess occurs. Amounts required to be written off will not be reinstated for any subsequent increase in the cost center ceiling. 

 

Depreciation and amortization for each cost center are computed on a composite unit-of-production method, based on estimated proven reserves attributable to the respective cost center. All costs associated with oil and gas properties are currently included in the base for computation and amortization. Such costs include all acquisition, exploration, development costs and estimated future expenditures for proved undeveloped properties as well as estimated dismantlement and abandonment costs as calculated under the asset retirement obligation category, net of salvage value. All of the Company's oil and gas properties are located within the continental United States.

 

Gains and losses on sales of oil and gas properties are treated as adjustments of capitalized costs. Gains or losses on sales of property and equipment, other than oil and gas properties, are recognized as part of operations. Expenditures for renewals and improvements are capitalized, while expenditures for maintenance and repairs are charged to operations as incurred.

 

Property and Equipment

 

The Company, as operator, leases equipment to owners of oil and gas wells, on a month-to-month basis.

 

The Company, as operator, transports natural gas through its natural gas gathering systems, in exchange for a fee.

 

Depreciation is provided in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives (5 to 10 years for rental equipment and natural gas gathering systems, 4 to 5 years for other property and equipment). The straight-line method of depreciation is used for financial reporting purposes, while accelerated methods are used for tax purposes.

 

Real Estate Property

 

The Company owns land along with a two-story commercial office building which is situated thereon. The Company occupies a portion of the building as its primary corporate headquarters, and leases the remaining space in the building to non-related third party commercial tenants at prevailing market rates. The Company depreciates the commercial office building using the straight-line method of depreciation for financial statement and income tax purposes.

 

Investments in Real Estate

 

All investments in real estate holdings are stated at cost or adjusted carrying value. ASC Topic 360, “Accounting for the Impairment or Disposal of Long-Lived Assets”, requires that a property be considered impaired if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the property. If impairment exists, an impairment loss is recognized by a charge against earnings equal to the amount by which the carrying amount of the property exceeds fair market value less cost to sell the property. If impairment of a property is recognized, the carrying amount of the property is reduced by the amount of the impairment, and a new cost for the property is established. Depreciation is provided over the properties estimated remaining useful life. There was no charge to earnings during 2020, 2019, or 2018 due to impairment of real estate holdings.

 

Accounting for Asset Retirement Obligations

 

The Company adopted ASC Topic 410-20, "Accounting for Asset Retirement Obligations" on December 31, 2005. This statement requires the recording of a liability in the period in which an asset retirement obligation ("ARO") is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter, each quarter, this liability is accreted up to the final retirement cost. The determination of the ARO is based on an estimate of the future cost to plug and abandon our oil and gas wells. The actual costs could be higher or lower than current estimates.

 

The following table reflects the changes of the asset retirement obligations during the period ending December 31;

 

   2020  2019
Carrying amount of asset retirement obligation  $1,408,000   $1,324,000 
Liabilities added   32,000    110,000 
Liabilities divested or settled   (145,000)   (146,000)
Current period accretion expenses   139,000    120,000 
Carrying amount as of December 31,  $1,434,000   $1,408,000 

    

 

Revenue Recognition

 

The Company follows the “sales” (takes or cash) method of accounting for oil and natural gas revenues. Under this method, the Company recognizes revenues on oil and natural gas production as it is taken and delivered to the purchasers. The volumes sold may be more or less than the volumes the Company is entitled to take based on our ownership in the property. These differences result in a condition known as a production imbalance. Our crude oil and natural gas imbalances are insignificant.

 

 

Income Taxes

 

In June, 2006, an interpretation of ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes” was issued. The interpretation creates a single model to address accounting for uncertainty in tax positions. Specifically, the pronouncement prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition of certain tax positions. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed.

 

The Company accounts for income taxes pursuant to ASC Topic 740-10 "Accounting for Income Taxes" , which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities, using enacted tax rates in effect in the years in which the differences are expected to reverse. The temporary differences primarily relate to depreciation, depletion and intangible drilling costs.

 

Use of Estimates

 

The preparation of financial statements in conformity with U. S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Share-Based Payments

 

Effective January 1, 2006, the Company adopted ASC Topic 718-10, “Share-Based Payment". ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant-date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices or the amount of share-based compensation recognized in earnings.

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842). The FASB issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The accounting for Lessees relates primarily to finance leases and for operating leases. The Company does not currently have any finance or operating leases as a lessee. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. Under GAAP accounting, lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. The Company does lease space in its commercial office building to third-party tenants under rental lease agreements as the lessor, and recognizes lease income from tenants on a straight-line basis. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. The Company does not anticipate that this new guidance will have a material impact on the Company’s consolidated financial position or results of operations for the periods presented.

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which supersedes nearly all existing revenue recognition guidance under existing generally accepted accounting principles.  This new standard is based upon the principal that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.

 

Revenue from Contracts with Customers  

Sales of oil, condensate, natural gas and natural gas liquids (“NGLs”) are recognized at the time control of the products are transferred to the customer. Based upon the Company’s current purchasers’ past experience and expertise in the market, collectability is probable, and there have not been payment issues with the Company’s purchasers over the past year or currently. Generally, the Company’s gas processing and purchase agreements indicate that the processors take control of the gas at the inlet of the plant and that control of residue gas is returned to the Company at the outlet of the plant. The midstream processing entity gathers and processes the natural gas and remits proceeds to the Company for the resulting sales of NGLs. The Company delivers oil and condensate to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product. 

 

When sales volumes exceed the Company’s entitled share, a production imbalance occurs. If production imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. Production imbalances have not had and currently do not have a material impact on the financial statements, and this did not change with the adoption of ASC 606.

 

Generally, the Company’s contracts have an initial term of one year or longer but continue month to month unless written notification of termination in a specified time period is provided by either party to the contract. The Company has used the practical expedient in ASC 606 which states that the Company is not required to disclose that transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligation is not required.

 

Contract Balances  

The Company receives purchaser statements from the majority of its customers but there are a few contracts where the Company prepares the invoice. Payment is unconditional upon receipt of the statement or invoice. Accordingly, the Company’s product sales contracts do not give rise to contract assets or liabilities under ASC 606. The majority of the Company’s contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, whether a well delivers to a gathering or transmission line, quality of the oil or natural gas, and supply and demand conditions. The price of these commodities fluctuates to remain competitive with supply.

 

Prior Period Performance Obligations

The Company records revenue in the month production is delivered to the purchaser. Settlement statements may not be received for 30 to 90 days after the date production is delivered, and therefore the Company is required to estimate the amount of production delivered to the purchaser and the price that will be received for the sale of the product. Differences between the Company’s estimates and the actual amounts received for product sales are generally recorded in the following month that payment is received. Any differences between the Company’s revenue estimates and actual revenue received historically have not been significant. The Company has internal controls in place for its revenue estimation accrual process.

 

Impact of Adoption of ASC 606

The Company has completed its review of its primary oil and natural gas marketing agreements in order to assess the impact of adoption, and it has assessed that adoption of this standard will not have a material impact on the Company's financial statements because revenue will continue to be recognized as production is delivered.  The Company adopted this standard in the first quarter of 2018 utilizing the modified retrospective method.

 

 

In August 2016, the FASB issued Accounting Standards Update No 2016-15: Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The FASB issued this Accounting Standards Update to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.

 

Currently, there are no other new accounting pronouncements that were issued to be effective in 2020 or subsequent thereto that would have a material impact on the Company’s financial reporting.

 

Subsequent Events

 

The Company has evaluated subsequent events through the issuance date of April1 15, 2021.

 

Subsequent to year-end, the Company applied for and was granted a loan in the amount of $402,573 pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted March 27, 2020.

 

On March 18, 2021, the loan (the “Loan”) was funded and matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing after the loan forgiveness determination has been made by the Small Business Administration. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.

 

The PPP provides that loan principal and accrued interest may be forgiven after a twenty-four-week period if the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.

 

The Company believes it will use the loan proceeds from the loan for purposes consistent with the PPP. While the Company currently believes that its use of the loan proceeds should meet the conditions for forgiveness of at least a portion of the loan, we cannot assure you that the Company will be eligible for forgiveness of the loan, in whole or in part.

XML 21 R9.htm IDEA: XBRL DOCUMENT v3.21.1
Account Receivable
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Account Receivable

3. ACCOUNTS RECEIVABLE

 

 

   December 31,
   2020  2019
       
Trade  $99,000   $129,000 
Accrued receivable   2,529,000    2,826,000 
Qualified Intermediary   —      250,000 
    2,628,000    3,205,000 
Less: Allowance for losses   (15,000)   (15,000)
   $2,613,000   $3,190,000 

 

 

 

Receivable from Qualified Intermediary is funds on deposit related to sale proceeds for which the Company is pursuing treatment under IRC Section 1031- Like Kind Exchange. These funds are released as the 180-day replacement period expires.

 

Accrued receivables are receivables from purchasers of oil and gas. These revenues are booked from check stub detail after receipt of the check for sales of oil and natural gas products. These payments are for sales of oil and natural gas produced in the reporting period, but for which payment has not yet been received until after the closing date of the reporting period. Therefore, these sales are accrued as receivables as of the balance sheet date. Revenues for oil and natural gas production that has been sold but for which payment has not yet been received is accrued in the period sold.

XML 22 R10.htm IDEA: XBRL DOCUMENT v3.21.1
Accounts Payable
12 Months Ended
Dec. 31, 2020
Payables and Accruals [Abstract]  
Accounts Payable

4. ACCOUNTS PAYABLE

 

 

   December 31,
   2020  2019
       
Trade payables  $2,427,000   $2,271,000 
Production proceeds payable   2,914,000    3,341,000 
Prepaid drilling costs   373,000    393,000 
   $5,714,000   $6,005,000 

 

XML 23 R11.htm IDEA: XBRL DOCUMENT v3.21.1
Notes Payable
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Notes Payable

5. NOTES PAYABLE

 

On May 1, 2020, the Company was granted a loan (the “Loan”) in the amount of $402,573 pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted March 27, 2020.

 

The Loan, which is in the form of a note dated April 9, 2020 issued by the Company, matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing on November 9, 2020. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.

 

The PPP provides that loan principal and accrued interest may be forgiven after either an eight-week period or a twenty-four-week period as long as the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.

 

Effective December 9, 2020, the Company received notice from its bank that the Small Business Administration has authorized full forgiveness of the Company’s Paycheck Protection Program loan in the amount of $402,573. The amount of the loan which was fully forgiven is recorded as debt forgiveness income on the Company’s Consolidated Statements of Operations for the year ended December 31, 2020.

XML 24 R12.htm IDEA: XBRL DOCUMENT v3.21.1
Related Party Transactions
12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions

6. RELATED PARTY TRANSACTIONS

 

On October 1, 2008, Giant entered into an Administrative Services Agreement with the Company whereby Giant pays the Company $250 per month for the Company providing administrative services to Giant. On October 1, 2008, the Company entered into a similar agreement with Giant NRG, LP (“NRG”) a limited partnership with Chris Mazzini and Michelle Mazzini as limited partners. Under this agreement NRG pays a monthly fee of $1,500 to the Company in exchange for the Company providing certain administrative services to NRG. The Company has entered into a similar arrangement with Peveler Pipeline, LP ("Peveler"), whereby Peveler pays the Company a monthly charge of $250 in exchange for the Company providing administrative services to Peveler. Chris and Michelle Mazzini are the owners of Peveler Pipeline, LP, a limited partnership which owns a pipeline gathering system servicing wells owned by Giant, another related entity, described elsewhere in this report. The Company entered into a similar agreement with M-R Ventures, LLC (“MRV”) a limited liability company that operates some wells in Michigan, and that is owned by Chris and Michelle Mazzini. Pursuant to this agreement, MRV pays the Company a monthly fee in the amount of $500 for certain administrative services that the Company provides to MRV. The Company entered into a similar agreement with Reserve Royalty Company (“Reserve”) a sole proprietorship that holds some royalty interests owned by Chris and Michelle Mazzini. Pursuant to this agreement, Reserve pays the Company a monthly fee in the amount of $350 for certain administrative services that the Company provides to Reserve.

XML 25 R13.htm IDEA: XBRL DOCUMENT v3.21.1
Common Stock
12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
Common Stock

7. COMMON STOCK

 

Effective January 1, 2006, the Company adopted ASC Topic 718-10, "Share-Based Payment". ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices, or the amount of share-based compensation recognized in earnings.

 

During the three-year period ending December 31, 2020, the Company did not issue any compensation related to share-based payments.

 

The Company has not approved nor authorized any standing repurchase program for its common stock.

 

During the three-year period ending December 31, 2020, the Company made the following repurchase of its common stock:

 

Effective December 6, 2018, the Company repurchased 126,667 shares of its common stock as a one-time transaction for a purchase price of $269,801 or $2.13 per share.

 

Effective April 6, 2020, and June 20, 2020, the Company repurchased 45,036 shares and 9,248 shares of its common stock from a non-controlling, unaffiliated shareholder of the Company for a negotiated purchase price of $56,295 and $11,560 respectively, or $1.25 per share. The repurchased shares are held as Treasury Stock.

 

The repurchased shares are held as Treasury Stock.

XML 26 R14.htm IDEA: XBRL DOCUMENT v3.21.1
Income Taxes
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes

8. INCOME TAXES

 

The Company accounts for income taxes pursuant to ASC Topic 740-10, "Accounting for Income Taxes". ASC Topic 740-10 utilizes the liability method of computing deferred income taxes.

 

Income tax differed from the amounts computed by applying an effective United States federal income tax rate of 21% to pretax income in 2020, 2019, and 2018.

 

Deferred income taxes reflect the effects of temporary differences between the tax bases of assets and liabilities and the reported amounts of those assets and liabilities for financial reporting purposes. Deferred income taxes also reflect the value of investment tax credits and an offsetting valuation allowance. The Company's total deferred tax assets and corresponding valuation allowance at December 31, 2020 and 2019 consisted of the following:

 

   2020  2019  2018
Computed expected tax expense (benefit)  $(259,000)  $(157,000)  $77,000 
                
Miscellaneous timing differences               
related to book and tax depletion differences               
and the expensing of intangible drilling costs.   68,000    (9,000)   (233,000)
Gain on sale of oil and gas properties'   —      193,000    303,000 
Correction of prior year estimate   —      12,000    77,000 
Expected Federal income tax expense (benefit)  $(191,000)  $39,000   $224,000 
                
Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018
                
                
    2020    2019    2018 
Federal income taxes (benefit)  $(191,000)  $39,000   $224,000 
State income taxes   —      —      —   
Current income tax provision (benefit)  $(191,000)  $39,000   $224,000 

  

   December 31,
   2020  2019
Deferred tax assets          
Depletion and amortization   105,000    152,000 
Expired leasehold   153,000    145,000 
Other, net   4,000    4,000 
Depreciation   52,000    47,000 
Total deferred tax assets   314,000    348,000 
           
Deferred tax liabilities          
Intangible drilling costs   (109,000)   (292,000)
Total deferred tax liability   (109,000)   (292,000)
Net deferred income tax asset (payable)  $205,000   $56,000 

 

 

On December 22, 2017, the U.S. Congress enacted the Tax Cuts and Jobs Act (the “Act”) which made significant changes to U.S. federal income tax law, including lowering the federal statutory corporate income tax rate to 21% beginning January 1, 2018. The income tax effects of changes in tax laws are recognized in the period when enacted.

 

The Company's estimate does not reflect effects of any state tax law changes and uncertainties regarding interpretations that may arise as a result of federal tax reform. 

XML 27 R15.htm IDEA: XBRL DOCUMENT v3.21.1
Cash Flow Information
12 Months Ended
Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]  
Cash Flow Information

9. CASH FLOW INFORMATION

 

The Company does not consider any of its assets, other than cash and certificates of deposit shown as cash on the balance sheet, to meet the definition of a cash equivalent.

 

Net cash provided by operating activities includes cash payments for the following:

 

 

   2020  2019  2018
          
Income taxes  $—     $60,000   $200,000 
Insurance proceeds        —      —   
Accounts Payable        —      —   

 

 

Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows:

 

   2020  2019  2018
Addition (Reduction) of oil & gas               
properties by recognitions of               
asset retirement obligation  $(113,000)  $(36,000)  $(45,000)
   $(113,000)  $(36,000)  $(45,000)

 

 

   2020  2019  2018
Proceeds from sales of oil and gas properties  $—     $1,168,000   $965,000 
Less:               
Capital acquisition under IRC Section 1031   —      —      (21,000)
Qualified Intermediary accounts receivable   —      (250,000)   579,000 
   $—     $918,000   $1,523,000 

  

XML 28 R16.htm IDEA: XBRL DOCUMENT v3.21.1
Earnings Per Share
12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share

10. EARNINGS PER SHARE

 

Earnings per share ("EPS") are calculated in accordance with ASC Topic 260-10, "Earnings per Share", which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. The adoption of ASC Topic 260-10 had no effect on previously reported EPS. Diluted EPS is computed based on the weighted number of shares outstanding, plus the additional common shares that would have been issued had the options outstanding been exercised.

XML 29 R17.htm IDEA: XBRL DOCUMENT v3.21.1
Concentration of Credit Risk
12 Months Ended
Dec. 31, 2020
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk

11. CONCENTRATIONS OF CREDIT RISK

 

Deposits held in non-interest-bearing transaction accounts at the same institution are now aggregated with any interest-bearing deposits the owner may hold in the same ownership category, and the combined total insured up to at least $250,000.

 

As of December 31, 2020, the Company had approximately $3,263,000 in checking and money market accounts at one bank, $1,474,000 at a second bank, $1,786,000 and $378,000 invested at two other banks. The Company also had approximately $8,825,000 of long-term certificates of deposit invested at these banks. Cash amounts on deposit at these institutions exceeded current per account FDIC protection limits by approximately $2,325,000.

 

Most of the Company's business activity is located in Texas. Accounts receivable as of December 31, 2020 and 2019 are due from both individual and institutional owners of joint interests in oil and gas wells as well as purchasers of oil and natural gas. A portion of the Company's ability to collect these receivables is dependent upon revenues generated from sales of oil and natural gas produced by the related wells.

XML 30 R18.htm IDEA: XBRL DOCUMENT v3.21.1
Financial Instruments
12 Months Ended
Dec. 31, 2020
Investments, All Other Investments [Abstract]  
Financial Instruments

12. FINANCIAL INSTRUMENTS

 

The estimated fair value of the Company's financial instruments at December 31, 2020 and 2019 follows:

 

   2020  2019
   Carrying
Amount
  Fair
Value
  Carrying
Amount
  Fair
Value
Cash  $7,480,000   $7,480,000   $15,229,000   $15,229,000 
Restricted cash   295,000    292,000    795,000    795,000 
Long-term investments   8,825,000    8,825,000    1,150,000    1,150,000 
Accounts receivable   2,613,000    2,613,000    3,190,000    3,190,000 

   

The fair value amounts for each of the financial instruments listed above approximate carrying amounts due to the short maturities of these instruments.

XML 31 R19.htm IDEA: XBRL DOCUMENT v3.21.1
Commitments and Contingencies
12 Months Ended
Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

13. COMMITMENTS AND CONTINGENCIES

 

The Company's oil and gas exploration and production activities are subject to Federal, State and environmental quality and pollution control laws and regulations. Such regulations restrict emission and discharge of wastes from wells, may require permits for the drilling of wells, prescribe the spacing of wells and rate of production, and require prevention and clean-up of pollution.

 

Although the Company has not in the past incurred substantial costs in complying with such laws and regulations, future environmental restrictions or requirements may materially increase the Company's capital expenditures, reduce earnings, and delay or prohibit certain activities.

 

At December 31, 2020 the Company has acquired bonds and letters of credit issued in favor of various state regulatory agencies as mandated by state law in order to comply with financial assurance regulations required to perform oil and gas operations within the various state jurisdictions.

 

The Company has seven $5,000 single-well bonds totaling $35,000 and one $10,000 single well bond with an insurance company, for wells the Company operates in Alabama.  The $5,000 bonds are written for a three-year period and have expiration dates of August 1, 2022.   The $10,000 bond is written for a one-year period and expired February 16, 2021.  Subsequent to year-end, this bond has been extended through February 16, 2022.

 

The Company has seven letters of credit from a bank issued for the benefit of various state regulatory agencies in Texas, New Mexico, Oklahoma, and Louisiana, ranging in amounts from $25,000 to $100,000 and totaling $295,000.  These letters of credit are fully secured by funds on deposit with the bank in business money market accounts and automatically extend for a period of one year unless cancelled by the beneficiary. 

 

The Company also has three letters of credit secured with four certificates of deposit at a second bank totaling $425,000.  The letters of credit have expiration dates ranging from November 30, 2021 to August 15, 2024.

XML 32 R20.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information
12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Operations and Balance Sheet Information

14. ADDITIONAL OPERATIONS AND BALANCE SHEET INFORMATION

 

Certain information about the Company's operations for the years ended December 31, 2020, 2019 and 2018 follows.

Dependence on Customers

 

The following is a summary of a partial list of purchasers / operators (listed by percent of total oil and natural gas sales) from oil and natural gas produced by the Company for the three-year period ended December 31, 2020:

 

Purchaser / Operator  2020  2019  2018
Sunoco Partners Marketing   20%   21%   18%
Enlink Gas Marketing, LTD.   12%   8%   10%
Targa Midstream Services, LLC   11%   8%   9%
Bedrock Production LLC   10%   8%   0%
Hunt Crude Oil Supply   6%   3%   0%
Barnett Gathering, LP   5%   5%   4%
Peveler Pipeline, LP   4%   3%   0%
Phillips 66   3%   3%   1%
Pruet Production Co.   3%   3%   3%
Eastex Crude Company   3%   5%   3%
ETC Texas Pipeline, LTD   2%   2%   4%
Midcoast Energy Partners LP   2%   2%   3%
FDL Operating LLC   2%   1%   1%
Oasis Transportation & Marketing Group   1%   0%   0%
ACE Gathering, Inc.   1%   4%   4%
Empire Pipeline Corp.   1%   1%   1%
Land and Natural Resource Develomeent   1%   1%   2%
OXY USA, Inc.   1%   1%   1%
Eagle Ridge Operating, Inc   1%   0%   0%
Valero Energy Corporation   1%   1%   1%
Edinger Engineering Inc.   1%   0%   0%
Webb Energy Resources, Inc.   1%   0%   1%
Lion Oil Trading & Transportation   1%   0%   0%
ETX Energy, LLC formerly New Gulf Resources   1%   6%   5%
Enterprise Crude Oil, LLC   1%   0%   1%
Sandridge Energy, Inc.   0%   1%   1%
XTO Energy, Inc.   0%   1%   1%
Enlink Crude Purchasing, LLC   0%   1%   0%
Shell Trading (US) Company   0%   3%   4%
Range Resources Corporation   0%   1%   1%
Enervest Operating, LLC   0%   0%   10%
Dorado Oil Company   0%   0%   0%
Devon OEI Operating, Inc.   0%   0%   2%
LPC Crude Oil Marketing LLC   0%   0%   2%
BP America Production Company   0%   0%   0%
DCP Midstream, LP   0%   1%   4%
Camino   0%   0%   0%

 

Oil and natural gas is sold to approximately 103 different purchasers under market sensitive, short-term contracts computed on a month to month basis.

 

Except as set forth above, there are no other customers of the Company that individually accounted for more than one percent (1%) of the Company's oil and gas revenues during the three years ended

December 31, 2020.

 

The Company currently has no hedged contracts.

 

Certain revenues, costs and expenses related to the Company's oil and gas operations are as follows: 

 

   Year Ended December 31,
   2020  2019  2018
Capitalized costs relating to oil and gas               
producing activities:               
Unproved properties  $1,876,000   $1,876,000   $1,896,000 
Proved properties   25,052,000    25,062,000    25,996,000 
Total capitalized costs   26,928,000    26,938,000    27,892,000 
Accumulated amortization   (25,241,000)   (24,848,000)   (24,454,000)
Total capitalized costs, net  $1,687,000    2,090,000    3,438,000 

 

 

 

   Year Ended December 31,
   2020  2019  2018
Costs incurred in oil and gas property               
acquisitions, exploration and development:               
Acquisition of properties  $22,000   $214,000   $354,000 
Development costs   97,000    72,000    191,000 
Total costs incurred  $119,000   $286,000   $545,000 

 

 

   Year Ended December 31,
   2020  2019  2018
Results of operations from producing activities:         
Sales of oil and gas  $2,923,000   $4,631,000   $5,848,000 
                
Production costs   2,000,000    2,582,000    2,491,000 
Amortization of oil and gas properties   393,000    394,000    439,000 
Total production costs   2,393,000    2,976,000    2,930,000 
Total net revenue  $530,000   $1,655,000   $2,918,000 

  

   Year Ended December 31,
   2020  2019  2018
Sales price per equivalent Mcf  $3.15   $3.97   $5.16 
Production costs per equivalent Mcf  $2.15   $2.21   $2.20 
Amortization per equivalent Mcf  $0.42   $0.34   $0.39 

 

 

   Year Ended December 31,
   2020  2019  2018
Results of operations from gas gathering         
and equipment rental activities:               
Revenue  $89,000   $125,000   $136,000 
Operating expenses   9,000    32,000    49,000 
Depreciation   1,000    2,000    1,000 
Total costs   10,000    34,000    50,000 
Total net revenue  $79,000   $91,000   $86,000 

 

XML 33 R21.htm IDEA: XBRL DOCUMENT v3.21.1
Business Segments
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Business Segments

15. BUSINESS SEGMENTS

 

The Company's three business segments are (1) oil and gas exploration, acquisition, production, and operations, (2) transportation and compression of natural gas, and (3) commercial real estate investment. Management has chosen to organize the Company into the three segments based on the products or services provided. The following is a summary of selected information for these segments for the

three-year period ended December 31, 2020: 

 

   Year Ended December 31,
   2020  2019  2018
Revenues: (1)         
Oil and gas exploration, production  $3,157,000   $4,946,000   $6,106,000 
and operations               
Gas gathering, compression and   89,000    125,000    136,000 
equipment rental               
Real estate rental   272,000    248,000    232,000 
   $3,518,000   $5,319,000   $6,474,000 

 

 

   Year Ended December 31,  
  2020 2019 2018
Depreciation, depletion, and      
amortization expense:      
Oil and gas exploration, production  $      396,000  $      408,000  $       461,000
and operations      
Impairment of oil and gas assets                   -                      -                      -   
Gas gathering, compression and              1,000              1,000            13,000
equipment rental      
Real estate rental            55,000            47,000            48,000
   $      452,000  $      456,000  $       522,000

 

 

   Year Ended December 31,  
  2020 2019 2018
Income (loss) from operations:      
Oil and gas exploration, production  $      623,000  $    1,836,000  $    2,975,000
and operations      
Gas gathering, compression and            79,000            92,000            86,000
equipment rental      
Real estate rental            43,000            22,000           (11,000)
           745,000       1,950,000        3,050,000
Corporate and other (2)      (1,639,000)      (2,596,000)       (2,786,000)
Consolidated net income (loss)  $     (894,000)  $     (646,000)  $       264,000

  

   Year Ended December 31,
   2020  2019  2018
Identifiable assets net of DDA:         
Oil and gas exploration, production               
and operations  $1,703,000   $2,108,000   $3,449,000 
Gas gathering, compression and               
equipment rental   6,000    8,000    10,000 
Real estate rental   1,265,000    1,276,000    1,323,000 
    2,974,000    3,392,000    4,782,000 
Corporate and other (3)   19,696,000    20,506,000    19,616,000 
Consolidated total assets  $22,670,000   $23,898,000   $24,398,000 

 

 

 

Note (1): All reported revenues are from external customers.

 

Note (2): Corporate and other includes general and administrative expenses, other non-operating income and expense and income taxes.

 

Note (3): Corporate and other includes cash, accounts and notes receivable, inventory, other property and equipment and intangible assets.

XML 34 R22.htm IDEA: XBRL DOCUMENT v3.21.1
Supplementory Income Statement
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Supplementory Income Statement

16. SUPPLEMENTARY INCOME STATEMENT INFORMATION

 

The following items were charged directly to expense: 

 

   Year Ended December 31,
   2020  2019  2018
Maintenance and repairs  $6,000   $29,000   $47,000 
Production taxes   116,000    203,000    242,000 
Taxes, other than payroll and income taxes   16,000    18,000    8,000 

 

 

XML 35 R23.htm IDEA: XBRL DOCUMENT v3.21.1
Quarterly Data
12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data

 

17. QUARTERLY DATA (UNAUDITED)

 

The table below reflects selected quarterly information for the years ended December 31, 2020, 2019 and 2018.

 

   Year Ended December 31, 2020
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $964,000   $548,000   $1,135,000   $1,532,000 
Expense   (1,320,000)   (1,055,000)   (1,006,000)  (2,032,000)
Operating income (loss)   (356,000)   (507,000)   129,000   (500,000)
Current tax (provision) benefit   61,000    113,000    (43,000)  60,000 
Deferred tax (provision) benefit   23,000    (28,000)   17,000   137,000 
Net income (loss)  $(272,000)  $(422,000)  $103,000   $(303,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $(0.04)  $(0.06)  $0.02   $(0.05)

   

   Year Ended December 31, 2019
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $1,395,000   $1,487,000   $1,340,000   $1,365,000 
Expense   (1,441,000)   (1,714,000)   (1,566,000)   (1,615,000)
Operating income (loss)   (46,000)   (227,000)   (226,000)   (250,000)
Current tax (provision) benefit   (4,000)   24,000    (58,000)   (1,000)
Deferred tax (provision) benefit   71,000    80,000    98,000    (107,000)
Net income (loss)  $21,000   $(123,000)  $(186,000)  $(358,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $—     $(0.02)  $(0.03)  $(0.04)

 

 

   Year Ended December 31, 2018
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $1,631,000   $2,063,000   $1,479,000   $1,561,000 
Expense   (1,381,000)   (1,574,000)   (1,304,000)   (2,108,000)
Operating income (loss)   250,000    489,000    175,000    (547,000)
Current tax (provision) benefit   (66,000)   (17,000)   (98,000)   (43,000)
Deferred tax (provision) benefit   121,000    230,000    (172,000)   (58,000)
Net income (loss)  $305,000   $702,000   $(95,000)  $(648,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $0.04   $0.10   $(0.01)  $(0.09)

 

XML 36 R24.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Supplemental Reserve Information

18. SUPPLEMENTAL RESERVE INFORMATION (UNAUDITED)

 

The Company’s net proved oil and natural gas reserves as of December 31, 2020, 2019, and 2018, have been estimated by Company personnel.

 

All estimates are in accordance generally accepted petroleum engineering and evaluation principles and definitions and with guidelines established by the Securities and Exchange Commission. All of the Company’s reserves are located in the United States of America and accounted for under one cost center.

 

Our policies and practices regarding internal control over the estimating of reserves are structured to objectively and accurately estimate our oil and natural gas reserve quantities, and present values in compliance with the U.S. Securities and Exchange Commission (“SEC”) regulations and accounting principles generally accepted in the United States of America. We maintain an internal staff of petroleum engineers and geosciences professionals who work closely with the accounting and financial departments to ensure the integrity, accuracy and timeliness of data used in the estimation process. The data used in our reserve estimation process is based on historical results for production, oil and natural gas prices received, lease operating expenses and development costs incurred, ownership interest and other required data. Historical oil and natural gas prices, lease operating expenses, and ownership interests are provided by and verified by the Company’s accounting department.

 

The Petroleum Engineer responsible for the supervision and preparation of the Company’s internally generated reserve report has a Bachelor of Science degree in Petroleum Engineering from a major university and has experience in preparing economic evaluations and reserve estimates. He meets the requirements regarding qualifications, objectivity and confidentiality set forth in the Standards Pertaining to the Engineering and Auditing of Oil and Gas Reserves Information promulgated by the Society of Petroleum Engineers.

 

The Company has established a written internal control procedure to verify that the data entered into our engineering evaluation software is complete and correct. These internal control procedures establish the source of the data both internally and externally, the personnel that will collect the data and testing of the data collected to ensure its accuracy.

 

The following reserve estimates were based on existing economic and operating conditions. Oil and natural gas prices for 2020, 2019, and 2018 were calculated using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of each year. Operating costs, production and ad valorem taxes and future development costs were based on current costs with no escalation.

 

There are numerous uncertainties inherent in estimating quantities of proved reserves and in projecting the future rates of production and timing of development expenditures. The following reserve data represents estimates only and should not be construed as being exact. Moreover, the present values should not be construed as the current market value of the Company's oil and natural gas reserves or the costs that would be incurred to obtain equivalent reserves.

  

 

Changes in Estimated Quantities of Proved Oil and Gas Reserves (Unaudited): 

 

Quantities of Proved Reserves:  Crude Oil
Bbls
  Natural Gas
Mcf
Balance December 31, 2017   308,940    7,173,430 
Sales of reserves in place   —      —   
Acquired properties   1,100    3,020 
Extensions and discoveries   230    325,070 
Revisions of previous estimates *   (5,634)   222,642 
Production   (43,136)   (874,812)
Balance December 31, 2018   261,500    6,849,350 
Sales of reserves in place   (60)   (27,530)
Acquired properties   780    6,970 
Extensions and discoveries   —      121,400 
Revisions of previous estimates *   8,446    (1,514,053)
Production   (41,919)   (916,456)
Balance December 31, 2019   228,747    4,519,681 
Sales of reserves in place   —      —   
Acquired properties   2,861    17,341 
Extensions and discoveries   —      —   
Revisions of previous estimates *   (56,008)   (880,867)
Production   (30,900)   (743,465)
Balance December 31, 2020   144,700    2,912,690 
           
*  May also include divestitures, not only changes in engineering.          
           
Proved Developed Reserves:          
Balance December 31, 2018   261,500    6,849,350 
Balance December 31, 2019   228,747    4,519,681 
Balance December 31, 2020   144,700    2,912,690 

  

Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves (Unaudited)

 

The Standardized Measure of Discounted Future Net Cash Flows and Changes Therein Relating to Proved Oil and Natural Gas Reserves ("Standardized Measures") does not purport to present the fair market value of a company's oil and gas properties. An estimate of such value should consider, among other factors, anticipated future prices of oil and natural gas, the probability of recoveries in excess of existing proved reserves, the value of probable reserves and acreage prospects, and perhaps different discount rates. It should be noted that estimates of reserve quantities, especially from new discoveries, are inherently imprecise and subject to substantial revision.

Reserve estimates were prepared in accordance with standard Security and Exchange Commission guidelines. The future net cash flow for 2020, 2019, and 2018, was computed using a 12-month average price, calculated as the un-weighted arithmetic average of the first-day-of-the month price for each month of the year. Lease operating costs, compression, dehydration, transportation, ad valorem taxes, severance taxes, and federal income taxes were deducted. Costs and prices were held constant and were not escalated over the life of the properties. No deduction has been made for interest. The annual discount of estimated future cash flows is defined, for use herein, as future cash flows discounted at 10% per year, over the expected period of realization.

 

Proved Developed Reserves were calculated based on Decline Curve Analysis on 29 operated wells and 41 non-operated wells. Materially insignificant operated and non-operated wells were excluded from the reserve estimate.

 

The Company emphasizes that reserve estimates are inherently imprecise. Accordingly, the estimates are expected to change as more current information becomes available. It is reasonably possible that, because of changes in market conditions or the inherent imprecision of these reserve estimates, that the estimates of future cash inflows, future gross revenues, the amount of oil and natural gas reserves, the remaining estimated lives of the oil and natural gas properties, or any combination of the above may be increased or reduced in the near term. If reduced, the carrying amount of capitalized oil and gas properties may be reduced materially in the near term.

 

 

   Year Ended December 31,
   2020  2019  2018
Future production revenue  $10,020,000   $22,235,000   $35,572,000 
Future development costs   —      —      —   
Future production costs   (6,284,000)   (9,167,000)   (17,830,000)
Future net cash flow before Federal income taxes   3,736,000    13,068,000    17,742,000 
Future income taxes   (560,000)   (1,960,000)   (2,661,000)
Future net cash flows   3,176,000    11,108,000    15,081,000 
Effect of 10% annual discounting   (609,000)   (5,010,000)   (4,030,000)
Standardized measure of discounted cash flows  $2,567,000   $6,098,000   $11,051,000 

 

 

Changes in the standardized measure of discounted future net cash flows:

 

 

 

   Year Ended December 31,
   2020  2019  2018
Beginning of the year  $6,098,000   $11,051,000   $9,794,000 
Sales of oil and gas, net of production costs   (879,000)   (1,950,000)   (3,194,000)
Net changes in prices and production costs   (963,000)   (3,558,000)   2,171,000 
Extensions, discoveries, additions less related costs   —      17,000    475,000 
Development costs incurred   92,000    68,000    181,000 
Revisions of previous quantity estimates   (963,200)   203,000    284,000 
Net change in purchase and sales of minerals in place   28,664    20,000    33,000 
Accretion of discount   610,000    1,105,000    979,000 
Net change in income taxes   777,000    (276,000)   (103,000)
Other   (2,233,464)   (582,000)   431,000 
End of year  $2,567,000   $6,098,000   $11,051,000 

  

 

 

SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

YEARS ENDED DECEMBER 31, 2020, 2019, AND 2018

 

 

SCHEDULE  I I
 
    Balance    Costs &
Expenses
    Deductions    Ending
Balance
 
Allowance for doubtful accounts                    
                     
December 31, 2020  $15,000   $—     $—     $15,000 
                     
December 31, 2019  $15,000   $—     $—     $15,000 
                     
December 31, 2018  $15,000   $—     $—     $15,000 

 

 

 

          SCHEDULE III
           
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION
           
Initial Cost to Corporation Total Cost
Description   Encumbrances Land Buildings Subsequent
to Acquist'n
           
Two story multi-tenant garden office building with sub-grade parking garage located in Dallas, Texas (b)  $    688,000  $ 1,624,000  $       326,000
           
Gross amounts at which carried at close of year    
           
Land Buildings Total Accumulated
Depreciation
Life on which
Depreciation
Calculated
Date
Acquired
           
 $    688,000  $1,624,000  $    2,312,000  $ 1,047,000 (a) 12/27/2004
           
           
           
Notes to Schedule III        
           
(a)  See Footnote 2 to the Financial Statements outlining depreciation methods and lives.
           
(b)  None
(c)  The reconciliation for investments in real estate and accumulated  depreciation for the years ended December 31, 2020 are as follows:
    Investments in
Real Estate
    Accumulated
Depreciation
 
Balance, December 31, 2005  $1,986,000   $49,000 
Acquisitions   210,000      
Depreciation expense        71,000 
Balance, December 31, 2006   2,196,000    120,000 
Acquisitions   34,000      
Depreciation expense        84,000 
Balance, December 31, 2007   2,230,000    204,000 
Acquisitions   38,000      
Depreciation expense        96,000 
Balance, December 31, 2008   2,268,000    300,000 
Acquisitions          
Depreciation expense        100,000 
Balance, December 31, 2009   2,268,000    400,000 
Acquisitions          
Depreciation expense        101,000 
Balance, December 31, 2010   2,268,000    501,000 
Acquisitions          
Depreciation expense        100,000 
Balance, December 31, 2011   2,268,000    601,000 
Acquisitions          
Depreciation expense        51,000 
Balance, December 31, 2012   2,268,000    652,000 
Acquisitions          
Depreciation expense        52,000 
Balance, December 31, 2013   2,268,000    704,000 
Acquisitions          
Depreciation expense        52,000 
Balance, December 31, 2014   2,268,000    756,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2015   2,268,000    803,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2016   2,268,000    850,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2017   2,268,000    897,000 
Acquisitions          
Depreciation expense        48,000 
Balance, December 31, 2018   2,268,000    945,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2019   2,268,000    992,000 
Acquisitions   44,000      
Depreciation expense        55,000 
Balance, December 31, 2020   2,312,000    1,047,000 

XML 37 R25.htm IDEA: XBRL DOCUMENT v3.21.1
Basis of Presentation (Policies)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Merger and Basis of Presentation

Merger and Basis of Presentation

 

On July 13, 1990, Prairie States Energy Co., a Texas corporation, (the Company) merged with Spindletop Oil & Gas Co., a Utah corporation (the Acquired Company). The name of Prairie States Energy Co. was changed to Spindletop Oil & Gas Co., a Texas corporation at the time of the merger.

Organization and Nature of Operations

Organization and Nature of Operations

 

The Company was organized as a Texas corporation in September 1985, in connection with the Plan of Reorganization ("the Plan"), effective September 9, 1985, of Prairie States Exploration, Inc., ("Exploration"), a Colorado corporation, which had previously filed for Chapter 11 bankruptcy. In connection with the Plan, Exploration was merged into the Company, with the Company being the surviving corporation.

 

Spindletop Oil & Gas Co. is engaged in the exploration, development and production of oil and natural gas; and through one of its subsidiaries, the gathering and marketing of natural gas.

 

The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters. The Company leases the remaining space in the building to non-related third party commercial tenants at prevailing market rates.

XML 38 R26.htm IDEA: XBRL DOCUMENT v3.21.1
Summary of Significant Accounting Policies (Policies)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Consolidation

Consolidation

 

The consolidated financial statements include the accounts of Spindletop Oil & Gas Co. and its wholly owned subsidiaries, Prairie Pipeline Co. and Spindletop Drilling Company. All significant inter-company transactions and accounts have been eliminated.

Cash and Cash Equivalents

Cash and Cash Equivalents

 

The Company considers all highly liquid instruments with a maturity of three months or less at time of original issuance to be cash equivalents.

Other Investments

Other Investments

 

Other short-term and long-term investments consist of certificates of deposit with maturities of more than three months. Carrying amounts approximate fair value.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts

The Company provides an allowance for doubtful accounts equal to the estimated uncollectible portion of accounts receivable. This estimate is based on historical collection experience and a review of the current status of accounts receivable

Oil and Gas Properties

Oil and Gas Properties

 

The Company follows the full cost method of accounting for its oil and gas properties. Accordingly, all costs associated with acquisition, exploration and development of oil and natural gas reserves are capitalized and accounted for in cost centers, on a country-by-country basis. For each cost center, capitalized costs, less accumulated amortization and related deferred income taxes, shall not exceed an amount (the cost center ceiling) equal to the sum of:

a)The present value of estimated future net revenues computed by applying current prices of oil and natural gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil and gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of ten percent and assuming continuation of existing economic conditions; plus
b)The cost of properties not being amortized; plus
c)The lower of cost or estimated fair market value of unproven properties included in the costs being amortized; less
d)Income tax effects related to differences between the book and tax basis of the properties.

 

If unamortized costs capitalized within a cost center, less related deferred income taxes, exceed the cost center ceiling (as defined), the excess is charged to expense and separately disclosed during the period in which the excess occurs. Amounts required to be written off will not be reinstated for any subsequent increase in the cost center ceiling.

 

Depreciation and amortization for each cost center are computed on a composite unit-of-production method, based on estimated proven reserves attributable to the respective cost center. All costs associated with oil and gas properties are currently included in the base for computation and amortization. Such costs include all acquisition, exploration, development costs and estimated future expenditures for proved undeveloped properties as well as estimated dismantlement and abandonment costs as calculated under the asset retirement obligation category, net of salvage value. All of the Company's oil and gas properties are located within the continental United States.

 

Gains and losses on sales of oil and gas properties are treated as adjustments of capitalized costs. Gains or losses on sales of property and equipment, other than oil and gas properties, are recognized as part of operations. Expenditures for renewals and improvements are capitalized, while expenditures for maintenance and repairs are charged to operations as incurred.

Property and Equipment

Property and Equipment

 

The Company, as operator, leases equipment to owners of oil and gas wells, on a month-to-month basis.

 

The Company, as operator, transports natural gas through its natural gas gathering systems, in exchange for a fee.

 

Depreciation is provided in amounts sufficient to relate the cost of depreciable assets to operations over their estimated service lives (5 to 10 years for rental equipment and natural gas gathering systems, 4 to 5 years for other property and equipment). The straight-line method of depreciation is used for financial reporting purposes, while accelerated methods are used for tax purposes.

Real Estate Property

Real Estate Property

 

The Company owns land along with a two-story commercial office building which is situated thereon. The Company occupies a portion of the building as its primary corporate headquarters, and leases the remaining space in the

building to non-related third party commercial tenants at prevailing market rates. The Company depreciates the commercial office building using the straight-line method of depreciation for financial statement and income tax purposes.

Investments in Real Estate

Investments in Real Estate

 

All investments in real estate holdings are stated at cost or adjusted carrying value. ASC Topic 360, “Accounting for the Impairment or Disposal of Long-Lived Assets”, requires that a property be considered impaired if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount of the property. If impairment exists, an impairment loss is recognized by a charge against earnings equal to the amount by which the carrying amount of the property exceeds fair market value less cost to sell the property. If impairment of a property is recognized, the carrying amount of the property is reduced by the amount of the impairment, and a new cost for the property is established. Depreciation is provided over the properties estimated remaining useful life. There was no charge to earnings during 2020, 2019, or 2018 due to impairment of real estate holdings.

Accounting for Asset Retirement Obligations

Accounting for Asset Retirement Obligations

 

The Company adopted ASC Topic 410-20, "Accounting for Asset Retirement Obligations" on December 31, 2005. This statement requires the recording of a liability in the period in which an asset retirement obligation ("ARO") is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter, each quarter, this liability is accreted up to the final retirement cost. The determination of the ARO is based on an estimate of the future cost to plug and abandon our oil and gas wells. The actual costs could be higher or lower than current estimates.

 

The following table reflects the changes of the asset retirement obligations during the period ending December 31;

   2020  2019
Carrying amount of asset retirement obligation  $1,408,000   $1,324,000 
Liabilities added   32,000    110,000 
Liabilities divested or settled   (145,000)   (146,000)
Current period accretion expenses   139,000    120,000 
Carrying amount as of December 31,  $1,434,000   $1,408,000 

 

Revenue Recognition

Revenue Recognition

 

The Company follows the “sales” (takes or cash) method of accounting for oil and natural gas revenues. Under this method, the Company recognizes revenues on oil and natural gas production as it is taken and delivered to the purchasers. The volumes sold may be more or less than the volumes the Company is entitled to take based on our ownership in the property. These differences result in a condition known as a production imbalance. Our crude oil and natural gas imbalances are insignificant.

Income Taxes

Income Taxes

 

In June, 2006, an interpretation of ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes” was issued. The interpretation creates a single model to address accounting for uncertainty in tax positions. Specifically, the pronouncement prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The interpretation also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition of certain tax positions. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed.

 

The Company accounts for income taxes pursuant to ASC Topic 740-10 "Accounting for Income Taxes" , which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement carrying amounts and tax bases of assets and liabilities, using enacted tax rates in effect in the years in which the differences are expected to reverse. The temporary differences primarily relate to depreciation, depletion and intangible drilling costs.

Use of Estimates

Use of Estimates

 

The preparation of financial statements in conformity with U. S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

 

Share-Based Payments

Share-Based Payments

 

Effective January 1, 2006, the Company adopted ASC Topic 718-10, “Share-Based Payment". ASC Topic 718-10 requires compensation costs related to share-based payments to be recognized in the income statement over the requisite service period. The amount of the compensation cost is to be measured based on the grant-date fair value of the instrument issued. ASC Topic 718-10 is effective for awards granted or modified after the date of adoption and for awards granted prior to that date that have not vested. ASC Topic 718-10 does not materially change the Company's existing accounting practices or the amount of share-based compensation recognized in earnings.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

In February 2016, the FASB issued Accounting Standards Update No. 2016-02: Leases (Topic 842). The FASB issued this Update to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The accounting for Lessees relates primarily to finance leases and for operating leases. The Company does not currently have any finance or operating leases as a lessee. The accounting applied by a lessor is largely unchanged from that applied under previous GAAP. Under GAAP accounting, lessors should continue to recognize lease income for those leases on a generally straight-line basis over the lease term. The Company does lease space in its commercial office building to third-party tenants under rental lease agreements as the lessor, and recognizes lease income from tenants on a straight-line basis. The amendments in this Update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities. The Company does not anticipate that this new guidance will have a material impact on the Company’s consolidated financial position or results of operations for the periods presented.

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which supersedes nearly all existing revenue recognition guidance under existing generally accepted accounting principles.  This new standard is based upon the principal that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts. ASU 2014-09 is effective for annual and interim periods beginning after December 15, 2017.

 

Revenue from Contracts with Customers  

Sales of oil, condensate, natural gas and natural gas liquids (“NGLs”) are recognized at the time control of the products are transferred to the customer. Based upon the Company’s current purchasers’ past experience and expertise in the market, collectability is probable, and there have not been payment issues with the Company’s purchasers over the past year or currently. Generally, the Company’s gas processing and purchase agreements indicate that the processors take control of the gas at the inlet of the plant and that control of residue gas is returned to the Company at the outlet of the plant. The midstream processing entity gathers and processes the natural gas and remits proceeds to the Company for the resulting sales of NGLs. The Company delivers oil and condensate to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product. 

 

When sales volumes exceed the Company’s entitled share, a production imbalance occurs. If production imbalance exceeds the Company’s share of the remaining estimated proved natural gas reserves for a given property, the Company records a liability. Production imbalances have not had and currently do not have a material impact on the financial statements, and this did not change with the adoption of ASC 606.

 

Generally, the Company’s contracts have an initial term of one year or longer but continue month to month unless written notification of termination in a specified time period is provided by either party to the contract. The Company has used the practical expedient in ASC 606 which states that the Company is not required to disclose that transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Future volumes are wholly unsatisfied, and disclosure of the transaction price allocated to remaining performance obligation is not required.

 

Contract Balances  

The Company receives purchaser statements from the majority of its customers but there are a few contracts where the Company prepares the invoice. Payment is unconditional upon receipt of the statement or invoice. Accordingly, the Company’s product sales contracts do not give rise to contract assets or liabilities under ASC 606. The majority of the Company’s contract pricing provisions are tied to a market index, with certain adjustments based on, among other factors, whether a well delivers to a gathering or transmission line, quality of the oil or natural gas, and supply and demand conditions. The price of these commodities fluctuates to remain competitive with supply.

 

Prior Period Performance Obligations

The Company records revenue in the month production is delivered to the purchaser. Settlement statements may not be received for 30 to 90 days after the date production is delivered, and therefore the Company is required to estimate the amount of production delivered to the purchaser and the price that will be received for the sale of the product. Differences between the Company’s estimates and the actual amounts received for product sales are generally recorded in the following month that payment is received. Any differences between the Company’s revenue estimates and actual revenue received historically have not been significant. The Company has internal controls in place for its revenue estimation accrual process.

 

Impact of Adoption of ASC 606

The Company has completed its review of its primary oil and natural gas marketing agreements in order to assess the impact of adoption, and it has assessed that adoption of this standard will not have a material impact on the Company's financial statements because revenue will continue to be recognized as production is delivered.  The Company adopted this standard in the first quarter of 2018 utilizing the modified retrospective method.

 

 

In August 2016, the FASB issued Accounting Standards Update No 2016-15: Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments. The FASB issued this Accounting Standards Update to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The amendments in this Update are effective for public entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years.

 

Currently, there are no other new accounting pronouncements that were issued to be effective in 2020 or subsequent thereto that would have a material impact on the Company’s financial reporting.

Subsequent Events

Subsequent Events

 

The Company has evaluated subsequent events through the issuance date of April1 15, 2021.

 

Subsequent to year-end, the Company applied for and was granted a loan in the amount of $402,573 pursuant to the Paycheck Protection Program (“PPP”) under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), which was enacted March 27, 2020.

 

On March 18, 2021, the loan (the “Loan”) was funded and matures twenty-four months from the date of the note and bears interest at the rate of 0.98% per annum, payable monthly commencing after the loan forgiveness determination has been made by the Small Business Administration. The Note may be prepaid by the Borrower at any time prior to maturity with no prepayment penalties.

 

The PPP provides that loan principal and accrued interest may be forgiven after a twenty-four-week period if the borrower uses the loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and maintains its payroll levels. Under the CARES Act, the amount of loan forgiveness may be reduced if the borrower terminates employees or reduces salaries during the period set forth in the CARES Act.

 

The Company believes it will use the loan proceeds from the loan for purposes consistent with the PPP. While the Company currently believes that its use of the loan proceeds should meet the conditions for forgiveness of at least a portion of the loan, we cannot assure you that the Company will be eligible for forgiveness of the loan, in whole or in part.

XML 39 R27.htm IDEA: XBRL DOCUMENT v3.21.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Asset Retirement Obligation

   2020  2019
Carrying amount of asset retirement obligation  $1,408,000   $1,324,000 
Liabilities added   32,000    110,000 
Liabilities divested or settled   (145,000)   (146,000)
Current period accretion expenses   139,000    120,000 
Carrying amount as of December 31,  $1,434,000   $1,408,000 

 

XML 40 R28.htm IDEA: XBRL DOCUMENT v3.21.1
Account Receivable (Tables)
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Accounts Receivable

   December 31,
   2020  2019
       
Trade  $99,000   $129,000 
Accrued receivable   2,529,000    2,826,000 
Qualified Intermediary   —      250,000 
    2,628,000    3,205,000 
Less: Allowance for losses   (15,000)   (15,000)
   $2,613,000   $3,190,000 

 

XML 41 R29.htm IDEA: XBRL DOCUMENT v3.21.1
Accounts Payable (Tables)
12 Months Ended
Dec. 31, 2020
Payables and Accruals [Abstract]  
Accounts Payable

   December 31,
   2020  2019
       
Trade payables  $2,427,000   $2,271,000 
Production proceeds payable   2,914,000    3,341,000 
Prepaid drilling costs   373,000    393,000 
   $5,714,000   $6,005,000 

 

XML 42 R30.htm IDEA: XBRL DOCUMENT v3.21.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Tax Expense (Benefit)

   2020  2019  2018
Computed expected tax expense (benefit)  $(259,000)  $(157,000)  $77,000 
                
Miscellaneous timing differences               
related to book and tax depletion differences               
and the expensing of intangible drilling costs.   68,000    (9,000)   (233,000)
Gain on sale of oil and gas properties'   —      193,000    303,000 
Correction of prior year estimate   —      12,000    77,000 
Expected Federal income tax expense (benefit)  $(191,000)  $39,000   $224,000 
                
Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018
                
                
    2020    2019    2018 
Federal income taxes (benefit)  $(191,000)  $39,000   $224,000 
State income taxes   —      —      —   
Current income tax provision (benefit)  $(191,000)  $39,000   $224,000 

 

Deferred Tax

   December 31,
   2020  2019
Deferred tax assets          
Depletion and amortization   105,000    152,000 
Expired leasehold   153,000    145,000 
Other, net   4,000    4,000 
Depreciation   52,000    47,000 
Total deferred tax assets   314,000    348,000 
           
Deferred tax liabilities          
Intangible drilling costs   (109,000)   (292,000)
Total deferred tax liability   (109,000)   (292,000)
Net deferred income tax asset (payable)  $205,000   $56,000 

 

XML 43 R31.htm IDEA: XBRL DOCUMENT v3.21.1
Cash Flow Information (Tables)
12 Months Ended
Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]  
Cash Flow

Net cash provided by operating activities includes cash payments for the following:

 

 

   2020  2019  2018
          
Income taxes  $—     $60,000   $200,000 
Insurance proceeds        —      —   
Accounts Payable        —      —   

 

 

Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows:

 

   2020  2019  2018
Addition (Reduction) of oil & gas               
properties by recognitions of               
asset retirement obligation  $(113,000)  $(36,000)  $(45,000)
   $(113,000)  $(36,000)  $(45,000)

 

 

   2020  2019  2018
Proceeds from sales of oil and gas properties  $—     $1,168,000   $965,000 
Less:               
Capital acquisition under IRC Section 1031   —      —      (21,000)
Qualified Intermediary accounts receivable   —      (250,000)   579,000 
   $—     $918,000   $1,523,000 

  

XML 44 R32.htm IDEA: XBRL DOCUMENT v3.21.1
Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2020
Investments, All Other Investments [Abstract]  
Financial Instruments

   2020  2019
   Carrying
Amount
  Fair
Value
  Carrying
Amount
  Fair
Value
Cash  $7,480,000   $7,480,000   $15,229,000   $15,229,000 
Restricted cash   295,000    292,000    795,000    795,000 
Long-term investments   8,825,000    8,825,000    1,150,000    1,150,000 
Accounts receivable   2,613,000    2,613,000    3,190,000    3,190,000 

 

XML 45 R33.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information (Tables)
12 Months Ended
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Significant purchasers / operators

Purchaser / Operator  2020  2019  2018
Sunoco Partners Marketing   20%   21%   18%
Enlink Gas Marketing, LTD.   12%   8%   10%
Targa Midstream Services, LLC   11%   8%   9%
Bedrock Production LLC   10%   8%   0%
Hunt Crude Oil Supply   6%   3%   0%
Barnett Gathering, LP   5%   5%   4%
Peveler Pipeline, LP   4%   3%   0%
Phillips 66   3%   3%   1%
Pruet Production Co.   3%   3%   3%
Eastex Crude Company   3%   5%   3%
ETC Texas Pipeline, LTD   2%   2%   4%
Midcoast Energy Partners LP   2%   2%   3%
FDL Operating LLC   2%   1%   1%
Oasis Transportation & Marketing Group   1%   0%   0%
ACE Gathering, Inc.   1%   4%   4%
Empire Pipeline Corp.   1%   1%   1%
Land and Natural Resource Develomeent   1%   1%   2%
OXY USA, Inc.   1%   1%   1%
Eagle Ridge Operating, Inc   1%   0%   0%
Valero Energy Corporation   1%   1%   1%
Edinger Engineering Inc.   1%   0%   0%
Webb Energy Resources, Inc.   1%   0%   1%
Lion Oil Trading & Transportation   1%   0%   0%
ETX Energy, LLC formerly New Gulf Resources   1%   6%   5%
Enterprise Crude Oil, LLC   1%   0%   1%
Sandridge Energy, Inc.   0%   1%   1%
XTO Energy, Inc.   0%   1%   1%
Enlink Crude Purchasing, LLC   0%   1%   0%
Shell Trading (US) Company   0%   3%   4%
Range Resources Corporation   0%   1%   1%
Enervest Operating, LLC   0%   0%   10%
Dorado Oil Company   0%   0%   0%
Devon OEI Operating, Inc.   0%   0%   2%
LPC Crude Oil Marketing LLC   0%   0%   2%
BP America Production Company   0%   0%   0%
DCP Midstream, LP   0%   1%   4%
Camino   0%   0%   0%

 

Revenues, costs and expenses related to the Company's oil and gas operations

 

   Year Ended December 31,
   2020  2019  2018
Capitalized costs relating to oil and gas               
producing activities:               
Unproved properties  $1,876,000   $1,876,000   $1,896,000 
Proved properties   25,052,000    25,062,000    25,996,000 
Total capitalized costs   26,928,000    26,938,000    27,892,000 
Accumulated amortization   (25,241,000)   (24,848,000)   (24,454,000)
Total capitalized costs, net  $1,687,000    2,090,000    3,438,000 

 

 

   Year Ended December 31,
   2020  2019  2018
Costs incurred in oil and gas property               
acquisitions, exploration and development:               
Acquisition of properties  $22,000   $214,000   $354,000 
Development costs   97,000    72,000    191,000 
Total costs incurred  $119,000   $286,000   $545,000 

 

 

   Year Ended December 31,
   2020  2019  2018
Results of operations from producing activities:         
Sales of oil and gas  $2,923,000   $4,631,000   $5,848,000 
                
Production costs   2,000,000    2,582,000    2,491,000 
Amortization of oil and gas properties   393,000    394,000    439,000 
Total production costs   2,393,000    2,976,000    2,930,000 
Total net revenue  $530,000   $1,655,000   $2,918,000 

  

   Year Ended December 31,
   2020  2019  2018
Sales price per equivalent Mcf  $3.15   $3.97   $5.16 
Production costs per equivalent Mcf  $2.15   $2.21   $2.20 
Amortization per equivalent Mcf  $0.42   $0.34   $0.39 

  

   Year Ended December 31,
   2020  2019  2018
Results of operations from gas gathering         
and equipment rental activities:               
Revenue  $89,000   $125,000   $136,000 
Operating expenses   9,000    32,000    49,000 
Depreciation   1,000    2,000    1,000 
Total costs   10,000    34,000    50,000 
Total net revenue  $79,000   $91,000   $86,000 

 

XML 46 R34.htm IDEA: XBRL DOCUMENT v3.21.1
Business Segments (Tables)
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Business Segments

   Year Ended December 31,
   2020  2019  2018
Revenues: (1)         
Oil and gas exploration, production  $3,157,000   $4,946,000   $6,106,000 
and operations               
Gas gathering, compression and   89,000    125,000    136,000 
equipment rental               
Real estate rental   272,000    248,000    232,000 
   $3,518,000   $5,319,000   $6,474,000 

 

 

   Year Ended December 31,  
  2020 2019 2018
Depreciation, depletion, and      
amortization expense:      
Oil and gas exploration, production  $      396,000  $      408,000  $       461,000
and operations      
Impairment of oil and gas assets                   -                      -                      -   
Gas gathering, compression and              1,000              1,000            13,000
equipment rental      
Real estate rental            55,000            47,000            48,000
   $      452,000  $      456,000  $       522,000

 

 

   Year Ended December 31,  
  2020 2019 2018
Income (loss) from operations:      
Oil and gas exploration, production  $      623,000  $    1,836,000  $    2,975,000
and operations      
Gas gathering, compression and            79,000            92,000            86,000
equipment rental      
Real estate rental            43,000            22,000           (11,000)
           745,000       1,950,000        3,050,000
Corporate and other (2)      (1,639,000)      (2,596,000)       (2,786,000)
Consolidated net income (loss)  $     (894,000)  $     (646,000)  $       264,000

  

   Year Ended December 31,
   2020  2019  2018
Identifiable assets net of DDA:         
Oil and gas exploration, production               
and operations  $1,703,000   $2,108,000   $3,449,000 
Gas gathering, compression and               
equipment rental   6,000    8,000    10,000 
Real estate rental   1,265,000    1,276,000    1,323,000 
    2,974,000    3,392,000    4,782,000 
Corporate and other (3)   19,696,000    20,506,000    19,616,000 
Consolidated total assets  $22,670,000   $23,898,000   $24,398,000 

 

XML 47 R35.htm IDEA: XBRL DOCUMENT v3.21.1
Supplementory Income Statement (Tables)
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Supplementary Income statement

   Year Ended December 31,
   2020  2019  2018
Maintenance and repairs  $6,000   $29,000   $47,000 
Production taxes   116,000    203,000    242,000 
Taxes, other than payroll and income taxes   16,000    18,000    8,000 

 

XML 48 R36.htm IDEA: XBRL DOCUMENT v3.21.1
Quarterly Data (Tables)
12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Data

 

   Year Ended December 31, 2020
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $964,000   $548,000   $1,135,000   $1,532,000 
Expense   (1,320,000)   (1,055,000)   (1,006,000)  (2,032,000)
Operating income (loss)   (356,000)   (507,000)   129,000   (500,000)
Current tax (provision) benefit   61,000    113,000    (43,000)  60,000 
Deferred tax (provision) benefit   23,000    (28,000)   17,000   137,000 
Net income (loss)  $(272,000)  $(422,000)  $103,000   $(303,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $(0.04)  $(0.06)  $0.02   $(0.05)

  

   Year Ended December 31, 2019
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $1,395,000   $1,487,000   $1,340,000   $1,365,000 
Expense   (1,441,000)   (1,714,000)   (1,566,000)   (1,615,000)
Operating income (loss)   (46,000)   (227,000)   (226,000)   (250,000)
Current tax (provision) benefit   (4,000)   24,000    (58,000)   (1,000)
Deferred tax (provision) benefit   71,000    80,000    98,000    (107,000)
Net income (loss)  $21,000   $(123,000)  $(186,000)  $(358,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $—     $(0.02)  $(0.03)  $(0.04)

 

 

   Year Ended December 31, 2018
    First
Quarter
    Second
Quarter
    Third
Quarter
    Fourth
Quarter
 
Revenue  $1,631,000   $2,063,000   $1,479,000   $1,561,000 
Expense   (1,381,000)   (1,574,000)   (1,304,000)   (2,108,000)
Operating income (loss)   250,000    489,000    175,000    (547,000)
Current tax (provision) benefit   (66,000)   (17,000)   (98,000)   (43,000)
Deferred tax (provision) benefit   121,000    230,000    (172,000)   (58,000)
Net income (loss)  $305,000   $702,000   $(95,000)  $(648,000)
Earnings (loss) per share of                    
common stock                    
Basic and diluted  $0.04   $0.10   $(0.01)  $(0.09)

 

XML 49 R37.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information (Tables)
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Quantities of Proved Reserves

Quantities of Proved Reserves:  Crude Oil
Bbls
  Natural Gas
Mcf
Balance December 31, 2017   308,940    7,173,430 
Sales of reserves in place   —      —   
Acquired properties   1,100    3,020 
Extensions and discoveries   230    325,070 
Revisions of previous estimates *   (5,634)   222,642 
Production   (43,136)   (874,812)
Balance December 31, 2018   261,500    6,849,350 
Sales of reserves in place   (60)   (27,530)
Acquired properties   780    6,970 
Extensions and discoveries   —      121,400 
Revisions of previous estimates *   8,446    (1,514,053)
Production   (41,919)   (916,456)
Balance December 31, 2019   228,747    4,519,681 
Sales of reserves in place   —      —   
Acquired properties   2,861    17,341 
Extensions and discoveries   —      —   
Revisions of previous estimates *   (56,008)   (880,867)
Production   (30,900)   (743,465)
Balance December 31, 2020   144,700    2,912,690 
           
*  May also include divestitures, not only changes in engineering.          
           
Proved Developed Reserves:          
Balance December 31, 2018   261,500    6,849,350 
Balance December 31, 2019   228,747    4,519,681 
Balance December 31, 2020   144,700    2,912,690 

 

Standardized measure of discounted future net cash flows related to proved reserves:

   Year Ended December 31,
   2020  2019  2018
Future production revenue  $10,020,000   $22,235,000   $35,572,000 
Future development costs   —      —      —   
Future production costs   (6,284,000)   (9,167,000)   (17,830,000)
Future net cash flow before Federal income taxes   3,736,000    13,068,000    17,742,000 
Future income taxes   (560,000)   (1,960,000)   (2,661,000)
Future net cash flows   3,176,000    11,108,000    15,081,000 
Effect of 10% annual discounting   (609,000)   (5,010,000)   (4,030,000)
Standardized measure of discounted cash flows  $2,567,000   $6,098,000   $11,051,000 

 

Changes in the standardized measure of discounted future net cash flows:

   Year Ended December 31,
   2020  2019  2018
Beginning of the year  $6,098,000   $11,051,000   $9,794,000 
Sales of oil and gas, net of production costs   (879,000)   (1,950,000)   (3,194,000)
Net changes in prices and production costs   (963,000)   (3,558,000)   2,171,000 
Extensions, discoveries, additions less related costs   —      17,000    475,000 
Development costs incurred   92,000    68,000    181,000 
Revisions of previous quantity estimates   (963,200)   203,000    284,000 
Net change in purchase and sales of minerals in place   28,664    20,000    33,000 
Accretion of discount   610,000    1,105,000    979,000 
Net change in income taxes   777,000    (276,000)   (103,000)
Other   (2,233,464)   (582,000)   431,000 
End of year  $2,567,000   $6,098,000   $11,051,000 

 

Allowance for doubtful accounts

SCHEDULE  I I
 
    Balance    Costs &
Expenses
    Deductions    Ending
Balance
 
Allowance for doubtful accounts                    
                     
December 31, 2020  $15,000   $—     $—     $15,000 
                     
December 31, 2019  $15,000   $—     $—     $15,000 
                     
December 31, 2018  $15,000   $—     $—     $15,000 

 

Real Estate

          SCHEDULE III
           
SPINDLETOP OIL & GAS CO. AND SUBSIDIARIES
REAL ESTATE AND ACCUMULATED DEPRECIATION
           
Initial Cost to Corporation Total Cost
Description   Encumbrances Land Buildings Subsequent
to Acquist'n
           
Two story multi-tenant garden office building with sub-grade parking garage located in Dallas, Texas (b)  $    688,000  $ 1,624,000  $       326,000
           
Gross amounts at which carried at close of year    
           
Land Buildings Total Accumulated
Depreciation
Life on which
Depreciation
Calculated
Date
Acquired
           
 $    688,000  $1,624,000  $    2,312,000  $ 1,047,000 (a) 12/27/2004
           
           
           
Notes to Schedule III        
           
(a)  See Footnote 2 to the Financial Statements outlining depreciation methods and lives.
           
(b)  None

 

Real Estate reconciliation

(c)  The reconciliation for investments in real estate and accumulated  depreciation for the years ended December 31, 2020 are as follows:
    Investments in
Real Estate
    Accumulated
Depreciation
 
Balance, December 31, 2005  $1,986,000   $49,000 
Acquisitions   210,000      
Depreciation expense        71,000 
Balance, December 31, 2006   2,196,000    120,000 
Acquisitions   34,000      
Depreciation expense        84,000 
Balance, December 31, 2007   2,230,000    204,000 
Acquisitions   38,000      
Depreciation expense        96,000 
Balance, December 31, 2008   2,268,000    300,000 
Acquisitions          
Depreciation expense        100,000 
Balance, December 31, 2009   2,268,000    400,000 
Acquisitions          
Depreciation expense        101,000 
Balance, December 31, 2010   2,268,000    501,000 
Acquisitions          
Depreciation expense        100,000 
Balance, December 31, 2011   2,268,000    601,000 
Acquisitions          
Depreciation expense        51,000 
Balance, December 31, 2012   2,268,000    652,000 
Acquisitions          
Depreciation expense        52,000 
Balance, December 31, 2013   2,268,000    704,000 
Acquisitions          
Depreciation expense        52,000 
Balance, December 31, 2014   2,268,000    756,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2015   2,268,000    803,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2016   2,268,000    850,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2017   2,268,000    897,000 
Acquisitions          
Depreciation expense        48,000 
Balance, December 31, 2018   2,268,000    945,000 
Acquisitions          
Depreciation expense        47,000 
Balance, December 31, 2019   2,268,000    992,000 
Acquisitions   44,000      
Depreciation expense        55,000 
Balance, December 31, 2020   2,312,000    1,047,000 

 

XML 50 R38.htm IDEA: XBRL DOCUMENT v3.21.1
Basis of Presentation (Details)
12 Months Ended
Dec. 31, 2020
Basis Of Presentation  
Rental square feet The Company owns land along with a commercial office building which contains approximately 46,286 of rentable square feet, of which the Company occupies approximately 12,759 rentable square feet as its corporate office headquarters.
XML 51 R39.htm IDEA: XBRL DOCUMENT v3.21.1
Summary of Significant Accounting Policies (Details Narrative 1) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Summary Of Significant Accounting Policies    
Impairment of oil & gas properties
XML 52 R40.htm IDEA: XBRL DOCUMENT v3.21.1
Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Accounting Policies [Abstract]      
Carrying amount of asset retirement obligation $ 1,408,000 $ 1,324,000  
Liabilities added 32,000 110,000  
Liabilities divested or settled (145,000) (146,000)  
Current period accretion expenses 139,000 120,000 $ 189,000
Carrying amount as of December 31, $ 1,434,000 $ 1,408,000 $ 1,324,000
XML 53 R41.htm IDEA: XBRL DOCUMENT v3.21.1
Account Receivable (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Account receivable, gross $ 2,628,000 $ 3,205,000
Less: Allowance for losses (15,000) (15,000)
Accounts receivable, trade 2,613,000 3,190,000
Trade Receivables [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Account receivable, gross 99,000 129,000
Accrued Receivables [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Account receivable, gross 2,529,000 $ 2,826,000
Qualified Intermediary [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Account receivable, gross $ 250,000  
XML 54 R42.htm IDEA: XBRL DOCUMENT v3.21.1
Accounts Payable - Accounts Payable (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Payables and Accruals [Abstract]    
Trade payables $ 2,427,000 $ 2,271,000
Production proceeds payable 2,914,000 3,341,000
Prepaid drilling costs 373,000 393,000
Accounts payable and accrued liabilities $ 5,714,000 $ 6,005,000
XML 55 R43.htm IDEA: XBRL DOCUMENT v3.21.1
Notes Payable (Details Narrative)
Dec. 31, 2020
USD ($)
Debt Disclosure [Abstract]  
Loan $ 402,573
Interest rate 0.98%
XML 56 R44.htm IDEA: XBRL DOCUMENT v3.21.1
Related Party Transactions (Details Narrative)
Oct. 01, 2008
USD ($)
Giant [Member]  
Related Party Transaction [Line Items]  
Monthly Fees $ 250
NRG [Member]  
Related Party Transaction [Line Items]  
Monthly Fees 1,500
Peveler [Member]  
Related Party Transaction [Line Items]  
Monthly Fees 250
MRV [Member]  
Related Party Transaction [Line Items]  
Monthly Fees 500
Reserve [Member]  
Related Party Transaction [Line Items]  
Monthly Fees $ 350
XML 57 R45.htm IDEA: XBRL DOCUMENT v3.21.1
Common Stock (Details Narrative) - Treasury Stock [Member] - USD ($)
3 Months Ended 6 Months Ended 11 Months Ended
Apr. 06, 2020
Jun. 20, 2020
Dec. 06, 2018
Repurchase shares of Common Stock as Treasury Stock, Amount $ 45,036 $ 9,248 $ 269,801
Repurchase shares of Common Stock as Treasury Stock, Shares 56,295 11,560 126,667
Price per share $ 1.25 $ 1.25 $ 2.13
XML 58 R46.htm IDEA: XBRL DOCUMENT v3.21.1
Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Tax Disclosure [Abstract]      
Computed expected tax expense (benefit) $ (259,000) $ (157,000) $ 77,000
Miscellaneous timing differences related to book and tax depletion differences and the expensing of intangible drilling costs 68,000 (9,000) (233,000)
Gain on sale of oil and gas properties' 193,000 303,000
Correction of prior year estimate 12,000 77,000
Expected Federal income tax expense (benefit) (191,000) 39,000 224,000
Current income tax provision (benefit) $ (191,000) $ 39,000 $ 224,000
XML 59 R47.htm IDEA: XBRL DOCUMENT v3.21.1
Income Taxes - Deferred Tax (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Deferred tax assets    
Depletion and amortization $ 105,000 $ 152,000
Expired leasehold 153,000 145,000
Other, net 4,000 4,000
Depreciation 52,000 47,000
Net deferred tax asset 314,000 348,000
Deferred tax liabilities    
Intangible drilling costs (109,000) (292,000)
Total deferred tax liability (109,000) (292,000)
Net deferred tax asset $ 205,000 $ 56,000
XML 60 R48.htm IDEA: XBRL DOCUMENT v3.21.1
Income Taxes (Details Narrative)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Effective tax rate 21.00%
XML 61 R49.htm IDEA: XBRL DOCUMENT v3.21.1
Cash Flow Information - Cash Flow (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Net cash provided by operating activities includes cash payments for the following:      
Income taxes $ 60,000 $ 200,000
Excluded from the Consolidated Statements of Cash Flows were the effects of certain non-cash investing and financing activities, as follows:      
Addition (Reductions) of oil & gas properties by recognitions of asset retirement obligation (113,000) (36,000) (45,000)
Proceeds from sales of oil and gas properties 1,168,000 965,000
Capital acquisition under IRC Section 1031 (21,000)
Qualified Intermediary accounts receivable   579,000
Qualified Intermediary accounts receivable   (250,000)  
Non-cash investing and financing activities $ 918,000 $ 1,523,000
XML 62 R50.htm IDEA: XBRL DOCUMENT v3.21.1
Concentration of Credit Risk (Details Narrative)
12 Months Ended
Dec. 31, 2020
USD ($)
Concentration Risk [Line Items]  
FDIC Insured $ 250,000
Long term investments $ 8,825,000
Certificate of Deposit [Member]  
Concentration Risk [Line Items]  
FIDC Insured Exceeds 2,325,000
Bank One [Member]  
Concentration Risk [Line Items]  
Checking and money market accounts $ 3,263,000
Bank Two [Member]  
Concentration Risk [Line Items]  
Checking and money market accounts 1,474,000
Bank Three [Member]  
Concentration Risk [Line Items]  
Checking and money market accounts 1,786,000
Bank Four [Member]  
Concentration Risk [Line Items]  
Checking and money market accounts $ 378,000
XML 63 R51.htm IDEA: XBRL DOCUMENT v3.21.1
Financial Instruments - Financial Instruments (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Investments, All Other Investments [Abstract]    
Cash and cash equivalents $ 7,480,000 $ 15,229,000
Cash, Fair Value 7,480,000 15,229,000
Restricted cash 295,000 795,000
Restricted cash, Fair Value 292,000 795,000
Other long-term investments 8,825,000 1,150,000
Other long-term investments, Fair Value 8,825,000 1,150,000
Accounts receivable, trade 2,613,000 3,190,000
Accounts receivable, Fair Value $ 2,613,000 $ 3,190,000
XML 64 R52.htm IDEA: XBRL DOCUMENT v3.21.1
Commitments and Contingencies (Details Narrative)
Dec. 31, 2020
USD ($)
Single-well bonds [Member]  
Other Commitments [Line Items]  
Single-well bonds $ 35,000 [1]
Single-well bonds Additional  
Other Commitments [Line Items]  
Single-well bonds 10,000
Letters of Credit [Member]  
Other Commitments [Line Items]  
Single-well bonds 295,000 [2]
Letters of Credit [Member] | Minimum [Member]  
Other Commitments [Line Items]  
Single-well bonds 25,000
Letters of Credit [Member] | Maximum [Member]  
Other Commitments [Line Items]  
Single-well bonds 100,000
Letters of Credit Additional [Member]  
Other Commitments [Line Items]  
Single-well bonds $ 425,000
[1] Seven, $5,000 single-well
[2] Seven Letters of credit
XML 65 R53.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information - Significant purchasers / operators (Details)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Sunoco Partners Marketing [Member]      
Product Information [Line Items]      
Significant Purchaser 20.00% 21.00% 18.00%
Enlink Gas Marketing, LTD [Member]      
Product Information [Line Items]      
Significant Purchaser 12.00% 8.00% 10.00%
Targa Midstream Services, LLC [Member]      
Product Information [Line Items]      
Significant Purchaser 11.00% 8.00% 9.00%
Bedrock Producation LLC [Member]      
Product Information [Line Items]      
Significant Purchaser 10.00% 8.00% 0.00%
Hunt Crude Oil Supply[Member]      
Product Information [Line Items]      
Significant Purchaser 6.00% 3.00% 0.00%
Barnett Gathering.L.P.[Member]      
Product Information [Line Items]      
Significant Purchaser 5.00% 5.00% 4.00%
Peveler Pipeline ,LP [Member]      
Product Information [Line Items]      
Significant Purchaser 3.00% 0.00% 0.00%
Phillps 66 [Member]      
Product Information [Line Items]      
Significant Purchaser 3.00% 3.00% 1.00%
Pruet Production Co.[Member]      
Product Information [Line Items]      
Significant Purchaser 3.00% 3.00% 3.00%
Eastex Crude Company [Member]      
Product Information [Line Items]      
Significant Purchaser 3.00% 5.00% 3.00%
ETC Texas Pipeline, Ltd [Member]      
Product Information [Line Items]      
Significant Purchaser 3.00% 2.00% 4.00%
Midcoast Energy Partners LP[Member]      
Product Information [Line Items]      
Significant Purchaser 2.00% 2.00% 3.00%
FDL Operating LLC [Member]      
Product Information [Line Items]      
Significant Purchaser 2.00% 1.00% 1.00%
Oasis Transportation and Marketing Group [Member]      
Product Information [Line Items]      
Significant Purchaser 2.00% 0.00% 0.00%
Ace Gathering, Inc.[Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 4.00% 4.00%
Empire Pipeline Corp..[Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 1.00% 1.00%
Land and Natural Resources DevelopmentMember]      
Product Information [Line Items]      
Significant Purchaser 1.00% 1.00% 2.00%
OXY USA, Inc. [Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 1.00% 1.00%
Eagle Ridge Operating, Inc.[Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 0.00% 0.00%
Valero Energy Corporation [Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 1.00% 3.00%
Ediner Engineering Inc.[Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 0.00% 0.00%
Webb Energy Resources, Inc.[Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 0.00% 1.00%
Lion Oil Trading and Transportation [Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 0.00% 0.00%
ETX Energy, LLC formerly New Gulf Resources [Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 6.00% 5.00%
Enterprise Crude Oil, LLC[Member]      
Product Information [Line Items]      
Significant Purchaser 1.00% 0.00% 1.00%
Sandridge Energy, Inc.[Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 1.00% 1.00%
XTO Energy, Inc.[Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 1.00% 1.00%
Enlink Crude Purchasing, LLC [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 1.00% 0.00%
Shell Trading (US) Company[Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 3.00% 4.00%
Range Resources Corporation[Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 1.00% 1.00%
Enervest Operating, LLC [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 0.00% 10.00%
Dorado Oil Company [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 0.00% 0.00%
Devon OEI Operating, Inc. [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 0.00% 2.00%
LPC Crude Oil Marketing LLC [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 0.00% 2.00%
BP America Production Company [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 0.00% 0.00%
DCP Midstream, LP [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 1.00% 4.00%
Camino [Member]      
Product Information [Line Items]      
Significant Purchaser 0.00% 0.00% 0.00%
XML 66 R54.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information - Revenues, costs and expenses related to the Company's oil and gas operations (Details) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Capitalized costs relating to oil and gas producing activities:      
Unproved properties $ 1,876,000 $ 1,876,000 $ 1,896,000
Proved properties 25,052,000 25,062,000 25,996,000
Total capitalized costs 26,928,000 26,938,000 27,892,000
Accumulated amortization (25,241,000) (24,848,000) (24,454,000)
Total capitalized costs, net $ 1,687,000 $ 2,090,000 $ 3,438,000
XML 67 R55.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information (Details 2) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Costs incurred in oil and gas property acquisitions, exploration and development:      
Acquisition of properties $ 22,000 $ 214,000 $ 354,000
Development costs 97,000 72,000 191,000
Total costs incurred $ 119,000 $ 286,000 $ 545,000
XML 68 R56.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information (Details 3) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Result of operations from producing activities:      
Oil and gas revenues $ 2,924,000 $ 4,631,000 $ 5,848,000
Amortization of oil and gas properties 1,000    
Total production costs 10,000    
Oil and gas exploration, acquisition, production and operations [Member]      
Result of operations from producing activities:      
Oil and gas revenues 2,923,000 4,631,000 5,848,000
Production costs 2,000,000 2,582,000 2,491,000
Amortization of oil and gas properties 393,000 394,000 439,000
Total production costs 2,393,000 2,976,000 2,930,000
Total net revenue $ 530,000 $ 1,655,000 $ 2,918,000
XML 69 R57.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information (Details 4) - $ / Mcf
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Sales price per equivalent Mcf 3.15 3.97 5.16
Production costs per equivalent Mcf 2.15 2.21 2.20
Amortization per equivalent Mcf 0.42 0.34 0.39
XML 70 R58.htm IDEA: XBRL DOCUMENT v3.21.1
Additional Operations and Balance Sheet Information (Details 5) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Results of operations from gas gathering and equipment rental activities:      
Revenue $ 89,000    
Operating costs 9,000    
Amortization/Depreciation 1,000    
Total production costs 10,000    
Total net revenue $ 79,000    
Gas Gathering [Member]      
Results of operations from gas gathering and equipment rental activities:      
Revenue   $ 125,000 $ 136,000
Operating costs   32,000 49,000
Amortization/Depreciation   2,000 1,000
Total production costs   34,000 50,000
Total net revenue   $ 91,000 $ 86,000
XML 71 R59.htm IDEA: XBRL DOCUMENT v3.21.1
Business Segments - Business Segments (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Segment Reporting Information [Line Items]      
Revenue $ 3,518,000 $ 5,319,000 $ 6,474,000
Depreciation, depletion, and amortization 452,000 456,000 522,000
Income from operations (894,000) (646,000) 264,000
Identifiable assets net of DDA 22,670,000 23,898,000 24,398,000
Gas gathering, compression and equipment rental [Member]      
Segment Reporting Information [Line Items]      
Revenue 89,000 125,000 136,000
Depreciation, depletion, and amortization 1,000 1,000 13,000
Income from operations 79,000 92,000 86,000
Identifiable assets net of DDA 6,000 8,000 10,000
Commercial real estate investment [Member]      
Segment Reporting Information [Line Items]      
Revenue 272,000 248,000 232,000
Depreciation, depletion, and amortization 55,000 47,000 47,000
Income from operations 43,000 22,000 (11,000)
Subtotal [Member]      
Segment Reporting Information [Line Items]      
Income from operations 745,000 1,950,000 3,050,000
Identifiable assets net of DDA 2,974,000 3,392,000 4,782,000
Corporate and other [Member]      
Segment Reporting Information [Line Items]      
Income from operations 1,639,000 (2,596,000) (2,786,000)
Identifiable assets net of DDA 19,696,000 20,506,000 19,616,000
Commercial real estate investment      
Segment Reporting Information [Line Items]      
Identifiable assets net of DDA 1,265,000 1,276,000 1,323,000
Oil and gas exploration, acquisition, production and operations [Member]      
Segment Reporting Information [Line Items]      
Revenue 3,157,000 4,946,000 6,106,000
Depreciation, depletion, and amortization 396,000 408,000 461,000
Income from operations 623,000 1,836,000 2,975,000
Identifiable assets net of DDA $ 1,703,000 $ 2,108,000 $ 3,449,000
XML 72 R60.htm IDEA: XBRL DOCUMENT v3.21.1
Supplementory Income Statement - Supplementary Income statement (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Statement Related Disclosures [Abstract]      
Maintenance and repairs $ 6,000 $ 29,000 $ 47,000
Production taxes 116,000 203,000 242,000
Taxes, other than payroll and income taxes $ 16,000 $ 18,000 $ 14,000
XML 73 R61.htm IDEA: XBRL DOCUMENT v3.21.1
Quarterly Data - Quarterly Data (Details) - USD ($)
3 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]                              
Total Revenues $ 1,532,000 $ 1,135,000 $ 548,000 $ 964,000 $ 1,365,000 $ 1,340,000 $ 1,487,000 $ 1,395,000 $ 1,561,000 $ 1,479,000 $ 2,063,000 $ 1,631,000 $ 4,179,000 $ 5,587,000 $ 6,734,000
Expense (2,032,000) (1,006,000) (1,055,000) (1,320,000) (1,615,000) (1,566,000) (1,714,000) (1,441,000) (2,108,000) (1,304,000) (1,574,000) (1,381,000) 5,413,000 6,336,000 6,367,000
Operating income (loss) (500,000) 129,000 (507,000) (356,000) (250,000) (226,000) (227,000) (46,000) (547,000) 175,000 489,000 250,000 (1,234,000) (749,000) 367,000
Current tax (provision) benefit 60,000 (43,000) 113,000 61,000 (1,000) (58,000) 24,000 (4,000) (43,000) (98,000) (17,000) (66,000)      
Deferred tax (provision) benefit 137,000 17,000 (28,000) 23,000 (107,000) 98,000 80,000 71,000 (58,000) (172,000) 230,000 121,000      
Net income (loss) $ (303,000) $ 103,000 $ (422,000) $ (272,000) $ (358,000) $ (186,000) $ (123,000) $ 21,000 $ (648,000) $ (95,000) $ 702,000 $ 305,000 $ (894,000) $ (646,000) $ 264,000
Earnings (loss) per share of common stock Basic and diluted $ (0.05) $ 0.02 $ (0.06) $ (0.04) $ (0.04) $ (0.03) $ (0.02) $ (0.09) $ (0.01) $ 0.10 $ 0.04 $ (0.13) $ (0.09) $ 0.04
XML 74 R62.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information (Details 1)
12 Months Ended
Dec. 31, 2020
bbl
Mcf
Dec. 31, 2019
bbl
Mcf
Dec. 31, 2018
bbl
Mcf
Crude Oil Bbls [Member]      
Quantities of Proved Reserves:      
Beginning Balance | bbl 228,747 261,500 308,940
Sales of reserves in place | bbl (60)  
Acquired properties | bbl 2,861 780 1,100
Extensions and discoveries | bbl 230
Revisions of previous estimates * | bbl (56,008) 8,446 (5,634)
Production | bbl (30,900) (41,919) (43,136)
Ending Balance | bbl 144,700 228,747 261,500
Proved Developed Reserves:      
Proved Developed Reserves | bbl 144,700 228,747 261,500
Natural Gas Mcf [Member]      
Quantities of Proved Reserves:      
Beginning Balance | Mcf 4,519,681 6,849,350 7,173,430
Sales of reserves in place | Mcf (27,530)
Acquired properties | Mcf 17,341 6,970 3,020
Extensions and discoveries | Mcf 121,400 325,070
Revisions of previous estimates * | Mcf (880,867) (1,514,053) 222,642
Production | Mcf (743,465) (916,456) (874,812)
Ending Balance | Mcf 2,912,690 4,519,681 6,849,350
Proved Developed Reserves:      
Proved Developed Reserves | Mcf 2,912,690 4,519,681 6,849,350
XML 75 R63.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information (Details 2) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Standardized measure of discounted future net cash flows related to proved reserves:        
Future production revenue $ 10,020,000 $ 22,235,000 $ 35,572,000  
Future development costs  
Future production costs (6,284,000) (9,167,000) (17,830,000)  
Future net cash flow before Federal income taxes 3,736,000 13,068,000 17,742,000  
Future income taxes (560,000) (1,960,000) (2,661,000)  
Future net cash flows 3,176,000 11,108,000 15,081,000  
Effect of 10% annual discounting (609,000) (5,010,000) (4,030,000)  
Standardized measure of discounted cash flows $ 2,567,000 $ 6,098,000 $ 11,051,000 $ 9,794,000
XML 76 R64.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information (Details 3) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Changes in the standardized measure of discounted future net cash flows:      
Beginning of the year $ 6,098,000 $ 11,051,000 $ 9,794,000
Sales of oil and gas, net of production costs (879,000) (1,950,000) (3,194,000)
Net changes in prices and production costs (963,000) (3,558,000) 2,171,000
Extensions, discoveries, additions less related costs 17,000 475,000
Development costs incurred 92,000 68,000 181,000
Revisions of previous quantity estimates (963,200) 203,000 284,000
Net change in purchase and sales of minerals in place 28,664 20,000 33,000
Accretion of discount 610,000 1,105,000 979,000
Net change in income taxes 777,000 (276,000) (103,000)
Other (2,233,464) (582,000) 431,000
End of the year $ 2,567,000 $ 6,098,000 $ 11,051,000
XML 77 R65.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information (Details 4) - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Supplemental Reserve Information Details 3Abstract      
Allowance for doubtful accounts $ 15,000 $ 15,000 $ 15,000
XML 78 R66.htm IDEA: XBRL DOCUMENT v3.21.1
Supplemental Reserve Information (Details 5) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2007
Dec. 31, 2006
Dec. 31, 2005
Supplemental Reserve Information Details 4Abstract                                
Land $ 688,000 $ 688,000                            
Buildings 1,624,000                             $ 1,298,000
Acquisition Costs 326,000                             $ 282,000
Investment in real estate 2,268,000 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,268,000 $ 2,230,000 $ 2,196,000 $ 1,986,000  
Acquistions in real estate 44,000                       38,000 34,000 210,000  
Investment in real estate 2,312,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,268,000 2,230,000 2,196,000  
Accumulated depreciation 992,000 945,000 897,000 850,000 803,000 756,000 704,000 652,000 601,000 501,000 400,000 300,000 204,000 120,000 49,000  
Depreciation Expense 55,000 47,000 48,000 47,000 47,000 47,000 52,000 52,000 51,000 100,000 101,000 100,000 96,000 84,000 71,000  
Accumulated depreciation $ 1,047,000 $ 992,000 $ 945,000 $ 897,000 $ 850,000 $ 803,000 $ 756,000 $ 704,000 $ 652,000 $ 601,000 $ 501,000 $ 400,000 $ 300,000 $ 204,000 $ 120,000  
EXCEL 79 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0 ( "YFCU('04UB@0 +$ 0 9&]C4')O<',O87!P+GAM M;$V./0L",1!$_\IQO;=!P4)B0-!2L+(/>QLOD&1#LD)^OCG!CVX>;QA&WPIG M*N*I#BV&5(_C(I(/ !47BK9.7:=N')=HI6-Y #OGDK7A.YNJQ<&4GPZ4A!0W_J=0U[R;UEA_6\#MI7E!+ P04 M " N9H]2P=D:5.\ K @ $0 &1O8U!R;W!S+V-O&ULS9+/ M3L,P#(=?!>7>NFD'$E&7"]-.("$Q"<0M2KPMHOFCQ*C=V].6K1."!^ 8^Y?/ MGR6W.@H=$CZG$#&1Q7PSN,YGH>.:'8FB ,CZB$[ED/ M=4"HJ^H.')(RBA1,P"(N1"9;HX5.J"BD,][H!1\_4S?#C ;LT*&G#+SDP.0T M,9Z&KH4K8((1)I>_"V@6XES]$SMW@)V30[9+JN_[LF_FW+@#A[>GQY=YW<+Z M3,IK'']E*^@4<&UL[5I;<]HX%'[OK]!X9_9M"\8V@;:T$W-I=MNTF83M M3A^%$5B-;'EDD81_OTV23;J;/ 0LZ?O.14?GZ#AY\^XN8NB&B)3R M> +]O6N[!3+ MUES@6QHO(];JM-O=5H1I;*$81V1@?5XL:$#05%%:;U\@M.4?,_@5RU2-9:,! M$U=!)KF(M/+Y;,7\VMX^9<_I.ATR@6XP&U@@?\YOI^1.6HCA5,+$P&IG/U9K MQ]'22(""R7V4!;I)]J/3%0@R#3LZG5C.=GSVQ.V?C,K:=#1M&N#C\7@XMLO2 MBW A(5M>5 TR M6'!VULS2 Y9>*?IUE!K9';O=05SP6.XYB1'^QL4$UFG2&98T1G*=D 4. #?$ MT4Q0?*]!MHK@PI+27)#6SRFU4!H(FLB!]4>"(<7K;YH] M5Z%82=J$^!!&&N*<<^9ST6S[!Z5&T?95O-RCEU@5 9<8WS2J-2S%UGB5P/&M MG#P=$Q+-E L&08:7)"82J3E^34@3_BNEVOZKR2.FJW"$2M"/F(9 M-AIRM1:!MG&IA&!:$L;1>$[2M!'\6:PUDSY@R.S-D77.UI$.$9)>-T(^8LZ+ MD!&_'H8X2IKMHG%8!/V>7L-)P>B"RV;]N'Z&U3-L+([W1]072N0/)J<_Z3(T M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+ M.7\N?<^E[[GT/:'2MSAD6R4)RU3393>* M$IY"&V[I4_5*E=?EK[DHN#Q;Y.FOH70^+,_Y/%_GM,T+,T.WF)&Y M"M-2D&_#^>G%>!KB.=D$N7V85VWGV-'1^^?!4;"C[SR6'<>(\J(A[J&&F,_# M0X=Y>U^89Y7&4#04;6RL)"Q&MV"XU_$L%.!D8"V@!X.O40+R4E5@,5O& RN0 MHGQ,C$7H<.>77%_CT9+CVZ9EM6ZO*7<9;2)2.<)IF!-GJ\K>9;'!51W/55OR ML+YJ/;053L_^6:W(GPP13A8+$DACE!>F2J+S&5.^YRM)Q%4XOT4SMA*7&+SC MYL=Q3E.X$G:V#P(RN;LYJ7IE,6>F\M\M# DL6XA9$N)-7>W5YYNTB42%(JP# 4A M%W+C[^^3:G>,U_HL@6V$5#)DU1?*0XG!/3-R0]A4)?.NVB8+A=OB5,V[&KXF M8$O#>FZ=+2?_VU[4/;07/4;SHYG@'K.' MYA,L0Z1^P7V*BH 1JV*^NJ]/^26<.[1[\8$@F_S6VZ3VW> ,?-2K6J5D*Q$_ M2P=\'Y(&8XQ;]#1?CQ1BK::QK<;:,0QY@%CS#*%F.-^'19H:,]6+K#F-"F]! MU4#E/]O4#6CV#30,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04 M" N9H]2J]&,WAH$ !!#P & 'AL+W=OY(0Q,GW#H+K"BTL\RE164NZDV\?GQLO_89[;AXDEM*%7K),R;'WE:IXKWORWA+$$9 MO%ESD1,%MV+CRT)0DIB@///#(.C[.4F9-QF99TLQ&?%292FC2X%DF>=$O%[1 MC._&'O;V#^[3S5;I!_YD5) -75'UK5@*N/,;E23-*9,I9TC0]=B;XO?ST 28 M+[ZG=":8SFF5:"3C^JT6]IDT=>'B] M5[\QG8?./!))9SS[D29J._:&'DKHFI29NN>[?VG=H9[6BWDFS7^TJ[[MAAZ* M2ZEX7@<#09ZRZI>\U(DX" B[1P+".B#\)0 ?"XCJ@.C<@&X=T#69J;IB\C G MBDQ&@N^0T%^#FKXPR331T/V4Z7%?*0%O4XA3DSF/2QA&A0A+T#53J7I%"U;- M)STN'?1M-4=__?YVY"MH3@?Y<2U]54F'1Z1QB+YPIK82=!.:_"S@ V<#&^YA MKT*GXIS&%RC"[U 8A($%:.8.GQ;B N&>"<>6\+D[_&/)H/7 UOI/O8F:U$=& M+SJ5^JDU]8X6NDT+7=-"]T@+M>@]W:12"0)-W9*(S^H/DQ=_HPW2%9G<.REY#V3N'<@:I$"2#%"3T!7VBKS9.MU( ?\/^((B& M#JQ^@]5WBC7#\_6UL.;,'8Z#SB<'Q:"A&)Q'L:0BY7J>) @6NA7HA%*]>'Y[ M\^;$!!XV;$.GXA3 $@-WDY&-C<@=OR:9I Z.RX;CTJDS*X4P%*F,80(]4"*< M>7*K=3HX[$38P86#UEP#I]9"[A)W@07 ;:3Y]M *W'8[+\)#.U38^GOH=N%F=ZZWGGJ3 MOH''U@ET0N[FP75(;DT]=+OPKU1F0SS.Y!8[=E;P#VH.O:9-[291S&$/J2WGU?%Y1>B+4&BC*XA-+@8P/015;U6W2A>F KFD2NHA\SE%FI< M*O0'\'[-N=K?Z ::JGGR/U!+ P04 " N9H]28S/?6\0& #4'0 & M 'AL+W=OCD>GSOR[KFCKEZX M>)(;QA3Z7E>-O)YLE-J^F\UDOF$UE9=\RQK]9L5%396^%>N9W I&BVY07JJILV+U LJUK*E[?LXJ_7$_P9/?@H5QOE'DP6UQM MZ9H],O5U>R_TW6ROI2AKULB2-TBPU?7D!K^[C8@9T$G\5;(7>7"-C"E+SI_, MSA(81*QBN3(JJ/[WS&Y951E-&L>W0>ED/Z<9>'B]T_YK9[PV9DDEN^75 MWV6A-M>3=((*MJ)MI1[XR^]L,&AN].6\DMU?]#+(!A.4MU+Q>ABL$=1ET_^G MWP='' S D6, &0:0

$PX"P,[1'UIEU1Q5=7 G^@H21UMK,1>>;;K2VIFS, M,CXJH=^6>IQ:W/)&\JHLJ&(%>D\KVN0,/1IU$EV@KX]WZ.V;GZ]F2D]E!LSR M0>W[7BUQJ+UC^24*\121@ 3 \-NSA^/L>/A,&[BWDNRM))V^T&5E*P1K%+J1 M4AOF41CN%8:=PLBED,H-HDV!$Y(=BAX!#;:@XV\8!^85*+,S0H;N!#$7D%\,#7)YC9"6RPY%CO" M-]_CFWOQW>0Y;[7O=%K(F7;DLF(0QKF-,<:A#=*6"W$6.%'&>Y2Q%^7')NKMJJZ.5#-U(878'K+@,V6D=1V$"@8IDX'X6#,S,&)L&W,8K*=<\ L M'%C31QA8QM-RQR /Z -[0?ZFG;NF:L-$V:R1?)6*U2!0;&\D#&28TW+'0$<& MP,2_&PS&W3[HMYW?LP1((Q#@DW+'@$>&P7Z*Z4,9CA,0< CDG20!> :63-TI M$H],@_U4HU-Y6[=55TT43!>6>4G[P!:8-/+!8F#& ,F0*+S M.([<-HQLA/UTY'/\%'UFL/=MUL%)D '( 1K#.';C'OD)Q]Z4^L T[ ]2:>>/ MZ,])J'AD%^RGET_:&:#U-DW$*9 L3\L= QO9!*?^>HS7-1-ZLU6(KU:EKF&7 M;5D5.B>!<%-[L6("<#0D./<%RLA-V$].KD !X=H<C/BB@+08A)C;=8!(#V1,43-S10$9B(M@;#7V^/UGPDX,6PD\@=VS%=%E5 MH*$0_*(+P4X]Z ";%4@ V6_+S3W6C^1!_.316U_Q9GVAF*A1V3SK)J!V=2C$ M9H0T)1!>6["G9Q?BD3F(GSDZQ" V.]4#D0I(N:MI,G(!.8<+W'MI@&CG]"P( M(90 2Y# W>&1,?D3?W?2 _W,F].U/[$[#U,* ND:D(SB +OACD1"SNE3/!AM MHB DAHH92#),,S>ID)%4B+]'V;GR4TF7956:[L&72<;<3T[F_K[?W=)7TT3V MQ5&>BU9GE\HUV> 8.\//$PQM-5M0)Q9W81J.5!#ZJ> S5VR/?8KNZ6N^8?F3 M(00U',[IR[6@8"/@5VY.+=_)+M'!X<@_EYIHM@))@J!>L:>+ZL MRK6SD@D!^HB@1 D*!NZ@#D>>"?T\LT^4)UTR0+:)Q0$9$O1!'DDH/(>$3N&T MJ45O,R"I0X(1=I-E.')0Z&] 'C=4L VO"B;D3UW/]._J\%CQR!:AGRU,=:^S MBE0\?YJB-Y>)O/Y-,3I<)<&V30.R$Z2MTK7NHUI(TP;=<=R5B]U); [V.X3 MM_4"9Y?@"ME,E0 U_$FQ8R>.;!;Z6Z2;HBA-7.JMM*5E<5$V**?;4F\M$*S= M^601<-AZ6NX8[DB2H9\DOPA&92M>=ZL.MK$#5J@_2J$S5U@R<%?,D&0)U=[EA5$,W OK]BNOJ:;@Q'_;V'W(7 M_P!02P,$% @ +F:/4EA)RV)5 @ @ 8 !@ !X;"]W;W)KB.W<<_P[#MQ,MU(]ZPH R6O-A9YY%>+FVO=U44%- M]4AN0)@[*ZEJBF:JUK[>**"E$]7OZ45[H]W M[E]==I/EB6J82_Z+E5C-O(E'2EC1AN.#W'Z#+D]B_0K)M?LFV[8VR3Q2-!IE MW8D-0Z6OW3GL"<+Q"4'4":*/"N).$+N@+9F+=4>1YE,EMT39:N-F!^YL MG-JD8<(^Q24J9S*;3DK*0();FEG(H"R-+::?)I014(K !90?EG\H5< M$)_HRJSJJ8]F=^OA%]U.M^U.T8F=[J 8D3B\)%$0!0/R^8?EX=6AW#>9^^!1 M'SQR?O')X'5M?D9+E,7S)3%)R2/E#9"+8!2$__&/>__8^8_/\Q\ZM]8H2MPPO^Z?S3M$!X[AG')_!N'0/EMPT6$G%_D(YQ-H:IGL88=!]CH _4GE MG?34R?G4]UHWP\3)&XXLS;)Q=GS []<=T*8];7H^[8\&-5)1,K$>0D[?H*19 MDL3AY AYH&X27*5!=(3L[_4'VYN_4[5F0A,.*Z,,1IG)KMI^UTY0;ES+>))H M&I ;5N85 CC MO,?BXIF+)[EF3*&7JJSEY62MU.9\.I6+-:NH/.,;5NM?EEQ45.E+L9K*C6 T M;QI5Y91X7C2M:%%/9A?-O3LQN^!;518UNQ-(;JN*BE_7K.3/EQ,\>;UQ7ZS6 MRMR8SBXV=,4>F/J^N1/Z:MI'R8N*U;+@-1)L>3FYPN<9B4V#1O%/P9[EWG=D M4!XY?S(7G_/+B6=ZQ$JV4"8$U1\[-F=E:2+I?OSL@D[Z9YJ&^]]?H__9P&N8 M1RK9G)<_BERM+R?)!.5L2;>ENN?/?[$.*#3Q%KR4S5_TW&HC;X(66ZEXU376 M/:B*NOVD+]U [#7 T4@#TC4@QPV"D09^U\!_;X.@:Q T(].B-..0445G%X(_ M(V'4.IKYT@QFTUKC%[69]P>*@\?L)\)MX_DB\>[9C M]99)1ZB@#Q4TH8*14+=%B6B=HQ65>DM"8=OA;:.$3123%W8SDI+ \_1@[O;' MT=8%D8\M76;KPB1(]G4'.&&/$SIQNI%!2\$K5#*]N1'OER3$U8:+]KE\W\:R M93X.;2H@6C@.%?50D1/JDYZ;%55K)HIZ=8(6O-+I6IHL>H+8SVVQ,=M/SUZM M: DQ1E:ODM1&M%68 (B S(]&$>,>,7YCWFB)F#2YI -!1:U!&<03VZ,<$QL( MD!VNL!8(D/ED%"CI@1(GT.=:,3U)"GT>Q4CL!^/(QK!E.+57: ;($CR*D?88 MJ1,C8X\*Z4IAI8VVUFO.,2NIU8' W:2\WFF8CF7&[I@EQ.SQIG8L;GN3.FV8B@IWGV" #+$I#%P#Z#9.GH?.(][\;.[G_C9G/!#M)Q M8)L#QT#& (1AF,0 BRV,8C\8IR$##7$ZXSAD@ M"QS[=/!\[#;]?4=\ P>PY!A:D9#.!L\@7>I8CX/'8[?)9TSGXD5!VY(A]2#/8.7'; M>5M>H@]?N)0?T373M1KK:D[TC;Z >+8;GV+B QD#4L8!D#( H1-O\'="G'CS MK3 IO2L[C8VAC>"[HCE"^O"H%^FR4. )0Q?XD#*UWT3G@!#8D1D@(V2\A"%# MU4'<54?&EDQ#YK_#:)<.IQB8GSDL!-P,%)+Q]P@R%"/$78RTV^XW&.VZX=2' M4@LDQ, ;2 8(CW2'B$,E0MR5R-_L]76OVX\@3VB=?)PF*;3Y &$40,G%%K;) M=X1G*$&(NP2YH:+6U:%\S2ZZ"D$/:ZH3#%^B.:\J/7T#65Q:+QBJPH MM^KXR*XC;Y\6[P-Y9]@_Y@9E7GI,;W\/EJ[UHCB&'MI<,P+"!-/%USDF!@0IB0,,3Z"GNX=[59, MK)HC=8>I@]AVK/]KU2LBEJBDBUU2.\L MUJM/M,?E[87BF^8 ^9$KQ:OFZYK1G DCT+\O.5>O%^8!_3\M9O\!4$L#!!0 M ( "YFCU*) 6,%Q , %,/ 8 >&PO=V]R:W-H965T&ULK5=1CZ,V$/XK%NI#*UT63, FIR32;I*J]W!5M.FU#U4?O,$)U@+.V<[F M]M_7!I:0M6'3*B^ 8>:;SY]G/'AZXN)99I0J\*/(2SGS,J4.GWU?;C-:$'G' M#[347W9<%$3IH=C[\B H22NG(O?#($!^05CIS:?5N[683_E1Y:RD:P'DL2B( M>'V@.3_-/.B]O7AD^TR9%_Y\>B![NJ'JVV$M],AO45)6T%(R7@)!=S/O'GY> M060<*HL_&3W)SC,P4WGB_-D,OJ0S+S",:$ZWRD 0?7NA"YKG!DGS^-Z >FU, MX]A]?D/_M9J\GLP3D73!\[]8JK*9EW@@I3MRS-4C/_U&FPG%!F_+Y2*%XVS9E"PLKZ3'XT0'0QS&CX,6A4Z2C>+;9X?W8MC[/DV923*2@S5AZ>A+"1;DP!3) M'5C+8:P_='')HWCMY;(:]G^D2A>CEFY%1,G*O01_?Z7%$Q7_7&+Y>EG:M0G; MM0DK\*@'_('N66E0P0/)2;FEG\!]P8^E D2!)=W>@3'\!,( 8M<2U-AQA6VV MBYV(<0HOD"\T&+<:C'^KUI422FO MTJ+&1ETM$,81AFY244LJ&B2U/HIMIGHVV7()R@B9OXI"4^^=\Y,[$BCE"$>K6"P;E7!C=(FXFS(097 MY4UC]F'B..!Z,L>!"'&(8;\(/D<A^%0^L!S;X7#S?6F>S=T M]$>4]$M\[GIPN.W==/>&=AN,HS")>DB>NR <;H-#M=BX7A1C,NG?P>&YK\'A MQG95,8:!,_OBZXK1-G,7HVVGBQ%'CF*T+2$:XX&]Z=Q#X7 3O:H8>^2PFVQ/ M,=J&DS#4/X+OR/N=\X@Y;GXE0O^]29#3G78,[K 60-0GN'J@^*$ZHCQQI0\\ MU6.F3[U4& /]?<>Y>AN84T][CI[_"U!+ P04 " N9H]2-S K.]T& "! M'P & 'AL+W=OW!%]J&\=C/,^.9 MQ_'%@]+W9B6$)8]IDIG+SLK:]7FW:Z*52+GYJ-8B@_\LE$ZYA9]ZV35K+7B< M#TJ3+@N"03?E,NM,+O)GMWIRH38VD9FXU<1LTI3KIVN1J(?+#NT\/_@NEROK M'G0G%VN^%'?"_EC?:OC5K;S$,A69D2HC6BPN.U?T?!:&;D!N\8\4#V;G.W%0 MYDK=NQ\W\64G<"L2B8BL<\'A8RNF(DF<)UC'S])IIYK3#=S]_NS]4PX>P,RY M$5.5_"MCN[KLC#HD%@N^2>QW]?"W* 'UG;]()2;_2QY*VZ!#HHVQ*BT'PPI2 MF16?_+$D8F< ';0,8.4 ]G) KV5 6 X(#QW0*P?T_?;CH6IC4#>U&Y037Q02L90+*R!>5V94A?V:QB/<==&&UU9+9 M\Y*OF=?C3$0?24A/"0M8@"QH>O!P.D:&SPX?/O*@":L A+F_L"T -BW3?(42Z2K&=G(W& MO2 >K>[S")V@]Z@83=KVK'!GKL]#/T*0]]+U7<1J2R2B>1YR8 4S0#531:I M5)3@B%7YP\BQNM9J*R'GR/R)J(I6?@BM@VI) R^M,P'5-BH7Q+.8\%1I*W_E M#S"F"W>#'69Z?=8D&C-#>$;,QN-6GH<5J*$7U$VZYE*[.N X5C+)D2VY<8P" MCTWNBD5[O;H&=F[6/!*7'>#,"+T5G0G!-N#;_>S!'E6P1U[85U&DQ7-F<6,@ MC=QO+0HFYHE;0\H0XV+%L SSU3G5$K-_N9X\+&M1]+_"R\1=H M(@*QENVL8+C]7H\ _@Z.]I'O='SJ13Y=\6PI#""'6ABIC6OW!60^3P3:X6DC M(?O#83.]$;NSD/6;"8X9TD%KAE-68V.'8I-%7[#\\35T#%G,F"+PFH84*=XS MQ(ZU=S]:*P4:'A$XB-J:/SE0Y'>>KO]PS_0&]C+TQSDTR98J?5U.L@>7H7"; MAK0W0N V[5BOO5S16K)0OV8!8;^$?9@)D^O1N^LK'QW]*FWKL;(21A-A11MNW M3*W'B3;84Y_'C(:CW$_'IHRM<2 M=)_\!9SRZ.=&&NFJZRD1C^M$Z?J$$XNM2-3:R42,W'*:%XF&G"4Q0]9'R,4, MPWW9O(^Y5D+,KX1N-SI:<2/R8X[;.<\'G*</8. M$^[35(LJYA=5>5$AB97,U6C<^TM[VZRJOS^[L80<3$<,43W(I9TA(DZS+!/V_4*J_4* M&Q[5WCY)2(SH\/96"P?F%PY5J3'L_T2,5=$]2B72_P?-33/U MSWU,OF&"8^AI=;6.8/Z7/_N%R'>4,Z9C@<8GND:8CS-,,L7_)4H._NW$VF0B_S.UY# M\O>.Q9U?];2Z1[[*;T]?/+^FY[/B-KAV4UQ.?^$:TL"01"S 9?!Q",O2Q7UO M\<.J=7X#.E?6JC3_NA(\%MH9P/\7"BI@^<--4-VZ3_X#4$L#!!0 ( "YF MCU)FUG?]6 0 *0) 8 >&PO=V]R:W-H965T&ULI59- M;^,V$+W[5PQT*+* ZJ]\;++K&+"3[-8%$AMQM@5:]$!+(XL(12HD%24U+BRXJBB$W4Y1FZ(U'I5CC$OVW08J9J)2_-YM?L,GGE/$2HUSXA4UM>TP1D\IY4S3.M"ZD MKO_%2Z-#R^&\_X;#L'$8!MYUH,#R6G@Q'EFS 2DYJ(LO:6W MDOS\>"J<=& R6%ATJ+U@K48]3]!LT$L:F&D-,WP#9C"$6Z-][N!&IYB^!N@1 MISVQX8[8=/@NXC4F73@>Q##L#_OOX!WO$ST.>,=OX$V2Q%3:2[V&A5$RD>C@ MS\G*>4N-\=<[ 4[V 4Y"@)/_J^3[,(,N3"?+V1+F7V!Q?[.\N7N8/,SF=S"Y MNX;Y_=?)W>R/>N,6[1HM")W"P=@PU_!KI;8P.(YA<''1C^FUD%8B+,D"N58$ ML84KTXU!P .^" >)L:6Q 2#N'/D5"S1M*D?1[F7T(0;, M,@PG6 OU(JZ!#VGW4JI]&6I>55UV.0RR2$7*= Y_RQ- MY:B),JDH5YH"<)4+(D Y#>@\U(^V*GVR[<+LA^0Z._YQFTY0KVDEJ:F8K1Z+ MOXNRTWJ%_,GRCJOLLWSF58MM]]U> /HJ4*]%'2N@8$L8.KZ?:2R5-&1\ARM? M6I-6=0(DJ2$XWM7<#T+!6KC/8GAD@="R ;W/C/&[!0?87\S&_P!02P,$% @ +F:/4F2( MM&N!&@ \DD !@ !X;"]W;W)KW=@7FV(5@$0BCR\/\-5MVWWWU];VYD==-?[G@^N^W[QX_-@7U[;. M_;S=V(:>K-JNSGOZLUL_]IO.YB4/JJO')XO%T\=U[IJ#7U[Q=Y?=+Z_:H:]< M8R\[XX>ZSKN[U[9J;W\^.#X(7WQQZ^L>7SS^Y=4F7]LKVW_;7';TU^,X2^EJ MVWC7-J:SJY\/SH]?O#[#^_S"?SA[ZY//!CM9MNUW_/&A_/E@ 8)L98L>,^3T MWXV]L%6%B8B,?^BF!*0;?M[4.)@IJU\C_^0_E0S+@^>*> 2W:39\X*WR:"+.-3B4J[ZCIX[&];]=WYNK#^T\? MWGVX./_TU9Q?7'S^]NGKAT_OS>7GCQ\N/KR],N=![T!+?VV-3^C)1WHV@0]% M2YKG>]OTU9W)-YO*V3)S#8\E_=_D789.6:O"E<7AG?Y[TE M)>Z]6;45F0#_PES0S+1**>._TN B?F/+_8-=4U1#:>-2 [X$5S>N*2O;MYOL MLZO,7_-Z\]*\SSTM,C=Y4QI'[]U>T]*T\=N&IO?#TKO2Y1UMV.E $924_C<[8ZGN>*!%_G-]8L MK6T,+4;:C/W.S47NK_D]_O#V'X.[R2O>-7BCB\IYE+:C*6GU:[(VM*7*T=NT MR89$=A!.W;J>9B,;T0^=Z^\R/I_.6E.++K:=J:RG67K3DWD%$]O.K8F8RCCO M!^(]L;DE,DT!>NQ(S]Q\)OYWYD-S8WTOR\DW_KKM^B-B0LT;J=IF+7^YY%65 M**Q8V*YGYO76@\+2;EKO>B%>28<0TJ.Z[7#L>3/9!KC6=2QL>2W,)1GMVA^. M1ENSHE,U1/5@^;#:6]X5^3#SIAV6_6JH@@Y.F4PSW!"3<6Q@T^+.Q\'$?W8QI:$1 M]*"G@REHC3 A?6M_;"S)*ZABR:+);LA39:J%Q=!UQ&O6G,'?NRI4!<.A*)<= M>?B.N9UR0K659Z5M@P@ZNMKVUVV9S,O:3NR!FK6NRC#KFF;=Q%GGS.FNI#>K MNQD++Z8B%GO?DIJ#9R*S!4D:"0%MU(VK*\@^AN7)]7[G>:/5%!F!=0V\AV"@O%)3. 50R_T=T=+>^.]"-. MP]$." 8FQ?7Z:C99 W>THPU*Z.UAGJH>&-=%8>$'*P=%;07;(; M).'Y#]@C?PT&-6U/'"@L$Z\";A[Q 8\$T'\.9NDP2J+8]:$F:7B1Y8=\GANP MA4:S,H!UHZ2N!F*>-0U!/Y(BVPQL]>O-@(=+,?K0L"Q(U8;$493R(?Z;1WR< MP5Y%+\&C34&:O,8D#9DO)=G^Z&5Z5CY>FT:S$Z:-T7EV&,-&Y!!C=K9 (\NA M&!=J;Z!#2N.$MMP'AP5G$S[C2(BOR[QB?1&=RE'(,])O3QW2:2.#2\V299)%,_SWP* M\NYWEV4]*P_)$P7E,7:U(AOIHX(1WTM'WW4PEIBBOX7CQ:0($IA1-"YC%0^" MD)JM#Z PKJF4I#H/,7=B.!*KP+*B1&3W:+GJ]CT*;1Z1E-)(@B/EX4PUI,"T M1"CI3[>6[;'\>7$$7@"9):6"@%2MQ^KD1H-8D==HF:NWUXX,63)I2^:J@YFN M@Z,@.]S)$B2YM^2*(6#M:D4[5N-$WW<6J",/)A4^ ]"*!EM&1 7%B-YFR3EN M;7-NWEC2,;B 8!PGUG*UQ^@:MNW!1K5-EO-?P Z63LOU1^WJ*+$&XJ]FHU<= M15)E;[0,?=^YY=##0P;#1 \WEN/&E C!?RP/V;832XU.HCM,MM@%.J%M(0=U MO%W9V7Y^$-H?E!D1#F=P%O?YS=G$::K/I4D?MF,@0VW0T.@$PJVX%\*8%NOZ M;)R*A*XF)%RQE1;:E_1OVZ2+0WVJ0CTC9N\$SWO/+J@GJ1,'OZS<6K@ A+AN M.P(.<%.DI3ZO;O*U57"7X214=Q6Y_)M_Z!"JMHB'%4431I+6)3_VC42(GEY! MKDDEWN=.(3PIE&>O!0*F/G#/*CW)/GM_$I#RMR$ 8)C&;"7C:J%>FQ=]NGSV)J+W-*]FU MJUD4A/HM6#6#):GV2 ]2060P\H!1$2NZ3F'9:+U&*B 8P3_. QZ5+;\-6TZQ MZ8R]. ]OV>#F8%OD#D].H5ZW?4H9Q#: /0XCCOKVB#\$H'?_*AS4 BA MF*0=UM>,?_7[#-^3^-()P?KZ.PJB:UK6 ;T+_!&+:5;6;AE!YT<4Y)H8VOAA MM4)4+IL3YQ+-JL9// EL%ZN3WV(QG2(KFTN],BP?,%GE&+8]P9CCA;FS>1>% M 5HQLG8;\\5M9G&;9YCE23*)R.I^23X4EB/A@O39$8?@8Y!1;O%F\.IMQAP! M21=L)%&P&3IR!!!]$4R"X;8" VB,3"DR'"LD<;93"-B$BF M/"%%F#;$MR'0[F_;(T1JP*QU32@,5+4X+YLM!UN*]E>3';%6MUSZH#.Y287M**PKA.32=O)PG;B M\2D5.PP:"1!TV_]969C*0,P3\;9'J)6<;IJRH,VGAPT7XJ:/.SRV\OBZ90I% M=A3PY'W$N&+?R< 6(1\1T@Y7%^8KH?S"G#Y=S,Q?_^7YR#IKG0J0D=IRB&Q)I!KR:H+$C M&S1JG0+K.X;5;MPQ1R0LK^FW\(28>O1?'(_JLB9?PV72X+QK^&C2 #C3A6G M"'7_@"H%Y'Y/G,*[X\.FZ3UPST/;:5?9>!C3'3%<:V9 M)H#(70M]*D]9.A=DF, 4!;3E YXF.(<4QHQ>8K0=9#F1 :O20@^D*E'OO[XIQG$FSX\-^7 KT[XME?GYF9+7U@-2'LC5/P(T M?967[0;$CUIX=KPX BD'^Z;,]D]Y *SPQA:V7A*'I/"P>*)9N]'J)-HHF(NS M79PE(V;E2[*3.(YF7R26(<'S !^='#^Y?,!*UK 2 PEQKS0)/N3*.Y6]!W# M;LA(L@!;$#>);/5P\Q4'M!R#J6>!$$/EQTUY^%DB'8A^$ZA8<38YV1 $5%Q= M:9$71NJ;%@]I2]KB)/>9CX%:$/Q@IE03-]6P3L,,TP[=! HSUI,E)8T4 OAV MJ$K$K\B@VRYCW'T;P'3(W835=09)AK*'8HC5V57%R096Z9#16NV-9A)>4U2_ M$Y$#.],WB9"]S* SK#+9Q:ZY>$A8_F*.9V>+Y[/%8L&?3T_.\#G[J.?%T**$ MRI^>\$O'QXN=%TJ@00ZO.S)X/<5TI7ET?/:$!QSBXU/YF%V$O*!L100A9*D; M8(_CTY]DG1-99WL_DHZ;:!COX?0L[B'LYXND*.E_MJBQ=K0O8:W.EL,H]9GF M49]_MQQGP=4=*K+(=E/9^W.;DA^=4X0H82N):T@N),'G:._',1#H?7..:8J, M01TT #2&A#=0N:9A6%Z&CB2-(+O*Y$U;#37-[LE6DLNZ@TQSK204>()+CF^F M=,(WT);Y<%'"H'5']6-=X@CJVFVBW8HNCU;W=I)<(]LW5+W19)AF%,WWAB;! M$>=I@M;5FF:=F\^T3M$AC[&//_%%@5[D\<>*VSQD_KXBH49_F+\-C67S_%3 M!) *N;L^YCY'3_#L;'%TO ^293C^;PV*4XAAV62GZP11@M-#J4PMY?9B!4?_ MV#9 ;85CH=/$.9+N=5Q[FTK<,"[)^3(@UU8R.G385P34>-L5ZB=Z%$V+0;6D MS:TO.K?D%;M$.U O\W"EBA1JB@<&-1HAVV4C#(UP.DL=VS@;YDAG8.^6DJK" MBZQ=P):2093O63CP/O%IZ)J]G,LKWV:Q!K<>7,E9A!8Y\Z.$F)DI*K*#4D'D MOR,RY8PZQ2F59D%&3CN5"E>KP:+'FBN%9^%\,()\%SR3'LKV>;RSJ&J(O I< MP0OY0,9 JY9KV^"-ZDX*OHP*$-)(TC:O$=CPD0RD*:&@?N/:P6N-DX-G=HZ1 M7X1-*:@MI_%B+.Y)46M,,<-:H)3+2VY+?K8-@5(9/S SQB.KO*EL- FD4@1_N-9=ACX)36Q^\XS>W@8L%>J1:>O(/$!!T MG %B?8^*A9)L!6 G[32$+8JW*:R?I3=.F]R*1UB(S7<7,1V8ZUL M(^A,@FEAL @]LC!2Q<4!9O<>F;CLT9AP$8RI8F-[SYA^IQ"YEQULF1)RLB!/ M'#4IR."T6H!="@BI& Z+SPZ 6$3 K+JVIF&MMRD$OJ+HSAZ]9C6X MS.^$JK?,)Y1&_I8W \3H./C?%&CL!F+/CI_#_6;J?O=,?C#?>7T\4=1(:)?J M:AG3)R4_S[.)QFX"J>*&DF2X:H]:S%%C8R#,JW%1*>1( _>^[H3D.P0QD.,E MU5]NF9 U>9G^",>>[41F22M/A!@[O !XB]SG5/)MWI5>)A;@3I"#O"-$%T'< M1,[X1%1]LSVCR0+ CK:B#J6DFH-=1O%/PH,]=)6MEHDA-YUC1=6$]]1XASIT MEC:>H=PO_07=5N(C/=0)MZ<.(J0>D,LMI-+V@5DX-1()=F+D^,XN.Y9?BKA4 M>-^=7[U6]J=CK\C4E+DA?DHZ=9'PI+G9R>:W$XG8U>D M@Y$!T2JI5A=RV&#)D',O61>B;&(%\@G=.F^T&NB1'@K;!R1L4QJZ&26GB'> MGI#;[]8HH)-TL-"6P1S"*^@0J5I&N/;^_/PRP Q\3E:1KI&6W#-A<)A8;<:P MXHA524#NYYE4OJ+T?!TG\Q7G97WN&=GP=;: MIHRP(-4?!C<3,[@B.2;*!#TO[=HUG+84$QB3#,=/.!_Y?*95=(D-)H'!6![& M6:332GU\6%:DXDO -.X,0B3MMB0WBY)+NW2$2Z(AY4T@;1L#'.ZK$+&.MI/3 MHP1$V@GRA=,\?O;2W]N,>6NY6:ZLDFX]L1^@%(-,>8HY6NS2%S'DFL&?8W'?((<$6DD#$+_:-)SI8H7"*3*6K*M!)#E6[BO>1.)*6 ME!% '-2%LVW!;L]-A.^S?5-EFA1#4U+LC=/94SOCFI(;AX,RV3 (MI8365O' MP2?=*[JJ[%ATJ7(M:6.F+!E%*N%0I. TE-=X(/L0WRWO*ED M%<<6F5$S0B=S/%##E<6D$1/W ' ,Y1$+K,YU1S;'<48I"4+'223KRA)?XMR1 M*V*QQI)IS]3>AECI]EB[I-?Q;C=M##.9U(NX$V:'2#^JZ74N MB;VH8.1Q],%#CF1?B#E3+7#(_I<"MP2W1[V/48.F4LD6_Y%"1]GQF4(VTC_R M3MQ)T'$ENFUL-!1HJB"!60[]")6D.0>1.W\8&LYLAY9$HC.F *4/-E:6)-WH M)75*Q\-F.I3>DM(G04#KI$%%H$X;>\) ^51[2**E>T2,#LC@-.^;3>)E3U]RT#B6/R^A6^:*(EDH(CK!)92(WT94DB8EN MG&)RG6*O2Q:[H?9SI%'- ^P0K"\'(N%III$C]# )&07Q1WW_NL6AAY2>#U4" M>](U+XU^X)&3 \Y#GP7Y<_MC)@ NI-S3KLF0.YF%,)C55;K?N=G+\A>Y=*5& M#\=+C&UX\)*0N)H #<0'<<8,9>U*]L(R":](+R9&7*37#[@*H76Y.OC-4!"0 MM"8D6%CBI=.I+86'JVHHN.G+CW(M:0Q$#3=B8S-9 D8?V9=+L527B>C?U^D0 M7(=F A7[96(P4S_G'Z@ISLT55WKK<'E(L1;JBK'?FQ5(8O;3!:;X:6'*_,YO MYYB2PF:Z:' R]'G5;BF+F[:=Q^+_- ^4[.;^K<1T*1])QM:4XZOM/;"&D8IL MH?:Y>7//M8%M29\FDONQTR"/G?2R7*9-U8E60A/&N%[.<"QSC/T&Z@"QB1&1 MQXG)W]UYSV(9)04*V$N A'2P/(XO&^VS4*Q M#VFR[ _39(3&0E0R2U!3TZKW1O9KDON?).49+M]B4& _R_.X)UJ3>Z30H33> M.>)U0MWBEG.N_UQ.;4]7.6[=Q 7>WNST2%O%=0T$RV7KDIN1@FEFSRK6HZRMASG7\X6 M)[,GSTXG;0%XA22^N+;%=\2:O5XQIH\T7QV38)>7ES$'-E[:N6CIS/(;UPVD M&*Y$)H_(6G$^Z6VX77AE"[Z$CIICG._B_ M^CZ#HPZRAX0 ["37O7W-RY^;D MF?S4P]Q\;O0KY&W!+&$*;Y;H9[!42/D$@A6:0=] M4XS:%2FG,^2L ,S&I#&2Y8I];9V7-K0"7]6X[_4ZI)W/2WK=(7,NX1CD\A-H MEFZPC",0%QN)7[==QYV.<$\D2!(2AV)?^+T ,4^DJ#Q:$$?LIY$U2"#&B_*L M;+R9C93?M3.&';HM1ZXI46'+RHH\/8TC@B[?8Y2N%Q\"U4.XRZ"+:3:,;PD2 M,I;;]O$*R)C:ITT0"JEFM'AC5P0(9ED7KK*P[])&(180=#/@-A;C!AEH*ER" M2YI)2/:#!,^V]&SG4+4O+[1TRYZRN*=PXDAO$8!I[ZR4/^5]#ZS(OU.QIV\4 M3:"T$IU5:(T)1$T]^A)JB;C7*0PF/F9[V!@4(&PA\C+Y(9#1=9$(($F':S:I M;1I347%9:2_N.7$2KUM/EM;R6(UJI.9>-+02/Y6P$]A+JI'][A49S$JF!#WV M#:DN(EJD&^[:8*U]VQO2/Y]Q_9"2-N@5OT" M?IEYYIG']LR.]TH_F K1PE,MI)G$E;7-=9*8HL*:F;YJ4-+.5NF:69KJ76(: MC:ST3K5(\C2]3&K&93P=^[4[/1VKU@HN\4Z#:>N:Z>%*@L;M))YEU_,+9^\-OG+)1#"5N62OL2NU_P2Z?H<,KE##^%_;!=I#&4+3&JKIS)@8UE^&?/74ZG#B, MWG+(.X?<\PZ!/,L/S++I6*L]:&=-:&[@4_7>1(Y+=RAKJVF7DY^=SHI"M=+" M"@ODCVPC<)Q8PG6[2=%AS -&_@9&EL,G)6UE8"E++%\#)$3HR"H_L)KG9Q$_ M8-&'0=:#/,W3,WB#8Y8#CS=X ^^SLFC *OC()9,%9P+6EEFDVV7-&?R+(_Z% MQ[_X7RJ>QQCT8;98_/;E\_T:5LO%\N;K;'Z[C$@*K#>HG1R1DX,TR:ZB>\U* MA'=P==5+TY0&6>Y'$5'1+9;T8 Y4(.\-PR:-1OFE-_N]98)O.1G>2(NZQI+3 MFX3OOQOE6?XSY,/4F^6]RWSD70>]/!WZM5LTYAIF@MXS:8E E0&$,H84_B'S M)O#CRRAZ1U$OLT%'<]#+KCSTB5:PU:J&-QAQ ]M6E@;H"9?8*,-MI%'0X97N M0 TC_T:K I%L')5]Q8L*;(6P4'7#I(=H6FU:+G=@J7)9=^Q H*3JS6H!ZZY" M9.D@>P^W_ 'A5RY+6#X5%9,[[,-]A08#CXAI)'$%4BDH@1D?*1NE[TOV3.N- M8(6_5M"@YJH$?&JX1D.'^[>#,1"P7N9>".)*<0UJRGD+B@M@1&9'I3@*/#0^ MHFP[=U?P"-5[4L4N'L#8=D-26>8\MR1E"-%8!^?8!C.GE5/O513);*OI=5 T MIVK9%E3RN_0;]NS?BU?@7WH3,RY]4))&:>N.( C3@TUK3PZL0P?*'*2R\$P- M:8,H.WT(B![8(:/(IT&7SN&5=!<.J?TUBN=.=5YI[#D#2B.P=CFP[D0HXJM# M,0>T#1/^AH?VZ.+TZ=H&\2-'_8QL[D+9BH6$?")&B?(_)TUW]T"S$S(D%CFT M_C^5KN2D&=2H=[[E&? %*O2%X^JQJ\Y",WDQ#RWY$],[+@T(W))KVO]I&(,. M;2Y,K&I\:]DH2XW*#ROZ,D#M#&A_JZCP=A,7X/BM,?T34$L#!!0 ( "YF MCU+%!Z>,9 ( !@% 9 >&PO=V]R:W-H965T6M3R*.2S*A UO):\4BNOT+I>^+[*"RR)FHH:*W.R%[(DVKCR MX*M:(J$.5'(_"H(+OR2L\M*EV]O*="D:S5F%6PFJ*4LBW];(Q7'EA5Z_<<\. MA;8;?KJLR0$?4#_56VD\?V"AK,1*,5&!Q/W*R\+%.K'Q+N KPZ,ZL<$JV0GQ M;)U/=.4%MB#DF&O+0,SR@AODW!*9,GYUG-Z0T@)/[9[]@]-NM.R(PHW@WQC5 MQ=#2G#*#TVF6YZ*I MM((M>2,[CDM?&U9[YN<=P[IEB-YA"".X%94N%-Q4%.G?!+XI9Z@IZFM:1V<9 MKS&?0AQ.( JBX Q?/&B,'5_\#E\G30&I*!C!LB%>F2Z%\@6]-)E"MME\>;I[?(!M]CU;?[X9F>Y@N4-I M.S2R'3)M"J]&CY)0A+J7.H9HDD3S21 $SH[FH;5'6REHTPY$+46.2%4/,E%7 M8>(0\21.^GBL":- )>.FY /D0AF9\3QN Z_<.AK#;#+OP&.X,.O,V?]JK7]R M6TN4!S>3"EP#VXL[[ YCG[6W_4]X^V;<$GE@E0*.>P,-IO.9![*=P];1HG9W M?R>TF21G%N;I0FD#S/E>"-T[-L'P&*:_ 5!+ P04 " N9H]2"=(5A[P$ M 7"@ &0 'AL+W=OTEM_WK^]G>A*0J//0! MXK5GOOF^\7CL\[6Q3ZYB]O2U5MI=#"OOFP^3B5YG%O8RW/3>B4U+RRYMJZ%[>:LS/IB>##<3#S( M5>7#Q.3RO!$K?F3_I5E8?$VV*(6L63MI-%DN+X:S@P_SHV ?#7Z5O'8[8PI* MEL8\A8]?BHOA-!!BQ;D/" (_SWS%2@4@T/BKQQQN0P;'W?$&_:>H'5J6PO&5 M4;_)PE<7P],A%5R*5OD'L_Z9>SW' 2\WRL7_M$ZVV6[-FFRP!EH81*G1&^2D#IORZ"U6)?S\ MY9WQ[&@A.K%4?#[Q@ P+D[QWGR?W[!7W@XQNC?:5HQM=<+$/, &7+:%L0VB> MO8EXS?F8#@]&E$VSZ1MXAUN!AQ'O\%6\I:=KZ7)E7&N9_I@MG;CXY)": MUKH6(.1-- %WG//\B1866M))P1"!:GK70R\6BPTRM=AFV_.R1HMG:5M',UF, MZ(&5Y)*$+@8WN=&FECD]X:[)^'CLNU-I^.S MT^^H09Z$UFT]HB85R"!BJXYR4Z.OY5*O".F^,\]<+V%]MJLUE!8(=HA%:+>- MD B;^,^-19T&>(1&97AT2=A(8\.N1E$AY6OI*U!.WAT"^@%:N5!>LDLQL+%8 M-<^R"$FH !?+"E @UP@5M8H\MTC>B]I$:H"TK]!0T5A++! C6E1,L1&^7S,_ MA1Q(4Q"(B=TD[RUBSY5!)H2+XI8;<:WC---S,CESX<)N$PIM)4-"48A9^6^)B0*/5R$IL%UHTS'&$%0LG?DA!(6 M]*C %D)+<.[3Y'!!(Q*VM"_[2&H 4F.Z*4N.MQNA>^[5TGX+L5B%51$*6>:< MBAS2!TNAGU(!!//'6B -\];)J&E6@+,,33-VAPH;)5I?&2O_!E39PG8W!?U9 MZ6.&(WYP\M&]U6A2&E_M6:E67^:W-?'2- *);LLB] 9(-;;@6%Y%N )V*:)8 M#(Z,B1$'_V9Z9;0S2J8^\NCQ$\Y.%':/S8A92'48F'1H!6A:(=0V^9OK:_Q? M5\QDY[*NV:[BD\2A)T!>NK>WL]M7SRQ=]B_FZ M(>G#FR9>_4OC\9"(PPHO-[;! .NEP5[T'R' ]BUX^0]02P,$% @ +F:/ M4L;%=\K/ @ ,08 !D !X;"]W;W)K&ULK551 M;]HP$'[OKSAEU;1)%0D!.M0"4DJ[KE)I$=!-T[0'DQS$FF-GMBFEOWYG!RAH M+=*DO1#?^;[OOCO;1V>I]"^3(UIX*H0TW2"WMCP+0Y/F6#!34R5*VIDI73!+ MIIZ'IM3(,@\J1!A'T6E8,"Z#7L?[AKK740LKN,2A!K,H"J97%RC4LAO4@XUC MQ.>Y=8ZPURG9',=H'\JA)BO3=H!Y#AC"V$':GE%US7TW)\J1+&_\*RBFU0<+HP5A5K,"DHN*R^[&G= MAQU .WH#$*\!L===)?(J+YEEO8Y62] NFMCYS=/T>9K_ MI:N'N4YK,+JZ3297ES!,1I/O,!DE=^.D/[FYOQO#O83[U*HI:O!MBMHG<,V9 MM(#2HB8-7%H%3$*2T?7AKD;W#F",^I&G:(Z2N4:D9V;IYMD<;([05T7)Y J6 M.3%,5VO"DJW,WO9QW(J@I,R%.W6@";&W76KUR#,NY\#V4YMU:K#JR%/77BUC MEVN_&#"\X()I8/O:*YUWH^L3N!W"A_?OVG$G^0M>@P>ZZZYP K_(H9Q5OUC5'+&" M&2*H&1Q3@:WHU&ULK59-;^,V$+W[5PR$ +TXLB1_Q D< XF3HMTB3;!.VT/1 RV.+"(2 MJ26I..ZO[Y"T'7OC&&C1BTV*,V_>/,Z0G*R4?C$EHH6WNI+F.BJM;:YZ/9.7 M6#,3JP8EK11*U\S25"][IM'(N'>JJUZ6)*->S82,IA/_[4E/)ZJUE9#XI,&T M=X,GMC<)DLE'IQDY_Y=90X0EAA;AT"H[]7G&%5.2"B\6V#&>U" M.L?]\1;]1Y\[Y;)@!F>J^D-P6UY'XP@X%JRM[%>U^@DW^0P=7JXJXW]A%6Q3 M,LY;8U6]<28&M9#AG[UM=-AS&">?.&0;A\SS#H$\RSMFV72BU0JTLR8T-_"I M>F\B)Z3;E+G5M"K(STYGJJY)G+E5^_E&^_;X)U]XIUF\*"D+0W< M2X[\$*!'5'9\LBV?V^PDXAWF,?33+F1)EIS Z^_RZWN\_B=X]]]:8=?PY\W" M6$TE\-<)S,$.<^ Q!_]1L]/>%S','A\>'G^%^?/C[!>X+PKTI0E?F&RI,&)K:AD; MQ1\,J85("XT&*955JO661?>]@,A$-N0 M-3+3:J(2"*D0=JF9M!U.0:%@0L,KJUKT%<.TSR8]X-):I= K9D-GCY4D%RLJM:0ETPN<;\8?B#V;\)8(9<=EN=.2AI26'?&Y6BZ MCK\]D'E_5P_D?M]3$@Z0:4E0)H:[5CM,AV)+C7B^IK7-'@)*[A:I6;%>D#C; MACTHV0X7W.?B=P%<$7\7^63-A4+9EG_)@BZL:335F ,FV5M;*NVY.QNJPL!+ M8]-JDLU@AZQI5VJ_2\+ZVG>]:USO_B])UHR'O2E413?<87BG_/=1K_8Z?H<] MU?T7UJ)X"8?!=EG/1AVD_X( M-J2=XV4W&XSA1!:%5C61E4J>YW2U:%*5-.U"*UE1B$KXDO'^I:HXT=UT_39\ MR%7B4ME@>R3MX:B;70X]G[,T[0Y'[G T34BW6OOV.4OC;+BOQ[,_U-YSVR:E M$4JLN)/_6?O3:MV9A_+Z%R[A-HF/W4Z]O=N]1KWT;QBG&K5VN.AW7W?/I)OP M.G@W#V^L!Z:7=#Q"A06Y)O'%, (=WBUA8E7CWPH+9>GEX8&PO=V]R M:W-H965T5L;7TN+7KJ6LLR()!=37-DN3UM)9*Q\>' M?/;)'A^:UE=*PR7$4)Z005)![XB#Q M[QH64%7$"-7XI^,9#R().%[WW-^Q[6C+4CI8F.IW5?CR*-Z+10$KV5;^L]G\ M"IT].\0O-Y7C7[$)M+-9+/+6>5-W8-2@5CK\RYO.#R/ 7O($(.L &>L=!+&6 MI]++XT-K-L(2-7*C!9O*:%1.:;J42V_QJT*+,W%U\L?9I;@J02Q,W4A]BW&X\^3E-MJ/X) "57C-TK'8\>0 0K5>5^HIL/0JO ME%SBUM^*&GQI"F%6 N%-R^PP"\!:*.ZI,^DEX$X4:H4D2+&RIF:.L@Y6!"[X M98FF-4UU2PRE%H SMCHBU;T_=)+C]JLH KJY$H8?$#*92E/Y+IZ$8Z[0B4 MYE"B@$KWMY%S02MT\.EC2E.=H8+!*@85'+'V4#?&8M7J+=$YN&@)?@.@F9A$ M4GE@R9=RZIE7RE]#8Y0U0E&YYO5"O7@NR6$# 6TP@J.*L!D M'(\O7>2-1ZV&("!^(SMR@Z>N,;IX@IV0'M7/H5Z"'5*_OZA]Q&,'<.0M]A*@ M,PB)S XBIF0JNM-HT<<2W#1H<:<+;33Z=FL)&E;*OQ(OQ%:VL[^=)(G@3;JS M.VQV>1E=8+' 5B$UF!930-4 M$OK;6'BH)>;#]^O'U>8^N'?+-__1HD6'8AZ-_('W<*UX;OE^B6,#[XR)3A^F M%9[U,<;Y6E,U^!JR*DUVF&^ZD_6WI@A= =:FTE0%?@GQD,Z9,OJ(GK;;0N, MR(J(7AVLHUANF&M@)N8A$JZ>S/=9&EC,YGL=DQ'-J*#A]3\1^NBDY"[H][,N MZ!\1>=>2'H=\0(,>:4Q!5;'5R%N)XNDJLLYG+\3.:UY\U'?AEF4<:+O;')%? M)I<3K'QZC26-(E.&*E.&"6/1AIH7O3=+)TZPYF[1)PJ4+'F#>UZE;UZ)3:GR M$N>X H13:ZU6*J?&G9?H%6JY)DAZI-E5HJ5$"PMN#(&\LAA\+;> M8+?"XDM]ZUXHAWZ)(JA?+F&MM"8&[Z5NJ<%Q>E&#I"(_SO&[;MBKB86H4PG- MMM37^Z1YW9:JR+W"PMK*5EY^ !6!X'*(IIDL%64TL<-*SB9BLD4CL&P^GHVF[!KOF-P4-,MC*P^ ]G [/EI,PK=^1AS?/A;3H?H?9 MN4)H,MG=B84-[XBP\:;AV7UI/+X$>%GBTPLL$>#WE3&^WY" X3%W_"]02P,$ M% @ +F:/4LO+%[/W P 5P@ !D !X;"]W;W)K&ULI5;;;ALW$'W75PRV1> JO;PS)D94I.=-E]MB>C@L9+*3J/2N?HBCFU> M8L7LJ:Y1T4ZA3<4<3,L2<[BB@D5S29A;65F$]TX*12N#-BF MJIAYND2I=],HC?8+]V);.K\0SR8UV^(:W1_URM L/J!P4:&R0BLP6$RC>7IQ M.?3VP>!/@3M[- 8?R4;KKWZRY-,H\8108NX\ J// RY02@]$-+YUF-'A2.]X M/-ZC7X?8*98-L[C0\HO@KIQ&XP@X%JR1[E[O/F(7S\CCY5K:\ N[UG8XB"!O MK--5YTP,*J':+WOL=#AR&"0GYLMF"WAFE(#2]6FF+2:Q(Z@O4&<=S"7+4SV DR:P8U6KK1P MI3CR[P%BXG0@ENV)76:O(G[ _!0&:1^R)$M>P1L< AT$O,$+>.NFKB52.3DF MX3GJJW;-PE_SC76&BN3O5PX;'@X;AL.&_U?55V%\0U[8FN4XC:CC+)H'C&;G MI["8KS_"]:>[+["\O;Z[OYE_7M[=PN<28:&KFJDGX!HM*.T@U]0_' WX55V MH%"9M>AL'[0K:<.53$%.A'M,<T^@LZ2=)0@.ZNOR(+&UC0BC$)D?D]F#=?7OS/->- M+Y05>V(;B3\:P-5CH,FA,+H*S!:DO9:"DY8?U*)<&,SUMDVAY]0+54.K3I@0!^B-%-M0V:3D M29H.@JAO_61P]CP>CMIQ[S\9_4!\M4]'$-52[=@];R\$L88CUL-".^ON,K3)C$2 OT4($'+MCZT0M!M#],>3'PA5AT[LQU2_OVN'9I!MU:3 M]D+\<<^YYYCX9%AK\VAS1 =/A51V%.7.E5=Q;+,<"V:[ND1%.VMM"N9H:C:Q M+0TR'D"%C-,D.8L+)E0T'H:UN1D/=>6D4#@W8*NB8&8W1:GK4=2+GA<68I,[ MOQ"/AR7;X!+=EW)N:!:W+%P4J*S0"@RN1]&D=S4=^/I0\%5@;0_&X)VLM'[T MDUL^BA(O""5FSC,P>FSQ&J7T1"3CYYXS:EMZX.'XF?UC\$Y>5LSBM9;?!'?Y M*+J(@..:5=(M=/T9]WY./5^FI0V_4#>U_22"K+).%WLP*2B$:I[L:7\.!X"+ MUP#I'I &W4VCH/*&.38>&EV#\=7$Y@?!:D"3.*'\G[)TAG8%X=QXQHP2:F-A MC@:6.3,XC!WQ^MTXVW-,&X[T%8Y>"G=:N=S"3''DQP0Q"6I5I<^JINF;C#>8 M=:'?ZT":I,D;?/W693_P]?_9)7R?K*PS]%+\>(-_T/(/ O_@OT[Q;8Y>TH79 M9'%_>_]I"?/9 I:?)XL9M-0E4=L@_5TTFR^C]^#'&9-9)9E##L*_XYDVG*D, M3VKAGV$LD#18AU3H0>OC']X//D1 MFG=/'F@<7/A+3^"79P YXZ TX'I-R0!41*ZV0E=6[BAF2FV\"#+6A1LAJ_WD MT&6( >Z11[H;O2?4\D^A'2AE94,]XUQX;4R^\.5RYBC#*LE)XA9AA:BHK:V0 M!\T>W-@Z/H-0AT]H,D&RNG][G>.#@"C0;$(,>D.5O!1I?0/MKK=WSQ#=HOS_C M7U!+ P04 " N9H]2CA8/YW<# !8!P &0 'AL+W=O=7#(0">W$M64[Z!=N XZ388-$D<-+VL-@# M)8TE;BA22XZB^-_OD))5%TURZD7BQ\R;]QZIT:(S]L%5B 1/M=)N&55$S:VC)VC451A*1:Q6F2O(MK(76T6H2U6[M:F):4U'AK MP;5U+>S^')7IEM$L.BQL95F17XA7BT:4>(?TM;FU/(M'E$+6J)TT&BSNEM%Z M]NG\U,>'@&\2.W;S<*!>>T/6Q\[,( M\M:1J8=D9E!+W;_%T^##4<*'Y(6$=$A( ^^^4&!Y(4BL%M9T8'TTH_E!D!JR MF9S4_E#NR/*NY#Q:;8S.49,5P2.S@XW%0A)LI7M8Q,05?%R<#VCG/5KZ MHL MA2]&4^7@4A=8_ P0,[617WK@=YZ^BGB!^13FLPFD29J\@CAR.EO,O5UM-EL"IN;Z\WE]?UV M?7]UB+"V6@K#@BTD5.[>'7Y"+0WV& M M-IM'Q%]U"9GHU?#07"EJMD SDCEL;N)^$H/(/)'_ J/;P M!N:3]-W<8_!5940&.!\KDP0-6=A9$@Y*;EJQUW-P3#P[Z:U><7-JL\>0D$+:BWCED$ -,8>+NC/%HA,*B^< MG>?^XANH#W (/[0Z[PJ?._)WKNFD;4*/?D3=\E:)S#OX%80ZX>.?YP%\.$6; M4G3YS[&^*C;U6C+T-,=A./H&]^X.OXVUGVW_!'>_W.^"%NR MY7RY=IR:3-]SE[9]'^\G9)K0._FLN!.'8<6_/K0^@/=WQM!AX@N,/]/5_U!+ M P04 " N9H]2F(,42.\" !Y!@ &0 'AL+W=O#&MBD09)M#T4/M#2R MB*5(E:3MY.]W2,F*L]WDTHLY,YQY\]Y(&L^/VGRS%:*#YUHJNX@JYYJK)+%Y MA36W0]V@HIM2FYH[T->TJ,4HD9EA59@L%Q$J^SJ M>NSS0\*? H_VS :O9*OU-^]LBD64>D(H,7<>@=-QP#5*Z8&(QK\=9M2W](7G M]@G])F@G+5MN<:WE7Z)PU2*:1E!@R??2/>CC[]CIF7B\7$L;?N'8YHXO(LCW MUNFZ*R8&M5#MR9^[.9P53--W"EA7P +OME%@^8D[OIP;?03CLPG-&T%JJ"9R M0OF'\N@,W0JJ<\L;H;C*!9>P4=:9/P=NH UH7Y,6P MDA+^DW\^Z#?N^XU#O_'_'>S',!D;PLWF;G6WWJR^P.;N M\>GAZ^WGNZ='>*H0B+J@-Q,+*+DP<.!RCZ!+(&FPUG7#UBGBE MP- M:,98;VD*ISD#5P49V0Q*+>E[M5>#$/:AP9H;\R+4#FY\KS<>W=D*?H'+>#Q- MXS1-?["S2M=K\Y-#4I>7UN MTWC*VKQ7*XNS2?K6&JSR7.]]@2'=XL"W$H'%%]FH[=E;HSB;I3]8?MIG,^9U MBT1;$9#GU6GH/Q^U%)8D#OA6'ZBT:8Q^#H^-1'=#/.$5A.UT@+*5-HX^=;K*I@5_3>@\0ET7VKM3HYOT/_;++\#4$L#!!0 M ( "YFCU(D >4=C04 'H, 9 >&PO=V]R:W-H965T?$,4Q&.KC3\9-B%T[R<37S74 M2C^V'1F\F5O7RH!;MYCXSI&L4U"K)\5T^G;22F6&I\?IV2=W>FQCT,K0)R=\ M;%OIUN>D[>ID.!MN'GQ6BR;P@\GI<2<7=$?A]^Z3P]UDBU*KEHQ7U@A'\Y/A MV>S]^2&O3PO^4+3R.]>".RFM?>";Z_ID..6"2%,5&$'BSY(N2&L&0AE?>\SA M-B4'[EYOT#^DWM%+*3U=6/VGJD-S,GPW%#7-9=3ALUW]2GT_1XQ76>W3;['* M:X^*H:BB#[;M@U%!JTS^*Q]['G8"WDU_$%#T 46J.R=*55[*($^/G5T)QZN! MQA>IU12-XI1A4>Z"PUN%N'!Z8=M6!; M[CS#%3^ FQ7B!@B-%U>FIOHYP 2U;0LL-@6>%Z\B7E(U%@>SD2BFQ?05O(-M MPP<)[^"_-"PNE:^T]=&1^.NL],'!-7^_DO5PF_4P93W\OVA^'6YV,!87'V]N MKN]OKF[O[\39[27N;^^O;W^YNKVXOKH3]PTA2=M)LW[CA54ZI5U(+^BQT];) M/!-XUCE;QYT148&)D(X&/I9?,#PB6/&!:G)2C\1=D(%2')FE4J]^UH$77*[W-E6K##+?H1I6"/R:U00K2,'GO'>.A% 0>V4!GF+%)J78^_R ME5,EI06^D]7N^UPE]X@G3]2,!KGZ/HNC)=K>,%AIDF8_=BEDT_M8G.G0V+AH M4IY>"]% 6.#4"8][M .KJOH'-78&6$Y"6 06ED?_$ QAVVGUUSC2H4&:T#: M2WR.Q#P&-NYS83:<)H+!2M]#MB)3AYV-'#+J-1>"C=W3;L5O_*"2G6(H.(=, MK3@)LJ'@6"&;= ;%X4'2BC0@D0;4-:I4053D KX-.]X",T%@K*DMR6U'^SN6 M9)4*K45I39V[U110*]J8#U H*A&P2<02X,_E$FFAP%(Z9:,7/CFU)\@Z6',S MY)(;-S5> WS=+P2E#&,=C,Z.S[1GSN?*2(2" HE\#M.[;OE3$P8'\J7PV M[/I3DCR>"(T-R8->NX[2ATCW2@-3QZ&74UR$Z /Y9]I63//@6KOB14$].%=FI@[1C29P@S,/&M9M-JB1# M+(2&1K M(P]]JF2OR*J! K [W7KFR4C%SVE%ZA!;PG<=):GGD?<-3]C \C#-([N !:7. M>O2=?):Z3)T;449XD3QF$,+Q]N,>S2:X2HVL=:YC"=:,;9N_5PFJ;U-6B5KOJ#5II\\_#:ZM(LI@&U%\--P^W1ZLS_)Y\FEY/I7?X,.++0(-S!$Z'?]T-!0NGW3S M3;!=.EV6-D"T=-G@GP-RO #OY]:&S0TGV/Z[&PO=V]R:W-H965T4T/9NM\2";0R!;!*) -T=*1<4Z)D>K?:A8A=@M7%YRN5BX)@V-OQK&B?G9B]A3H[D;7.LT(L%*OJW8ZKIW.1 MRX?3=MCV&[?99JMIHW=V4O*-6 K]K5PH//7V4M)L)XHJDP538GW:GH3'YS'1 M&X)?,O%0-=:,/+F3\@<]7*2G[8 ,$KE(-$G@^+D74Y'G) AF_.YDMOW"T09LE M=:7ESC'#@EU6V%_^Z'#X,PR18XB,W5:1L7+&-3\[4?*!*:*&-%H85PTWC,L* M"LI2*YQFX--GDS3-"!Z>LYM2*$[KBO$B9><\YT4BV-+DQD5A$P#')ST-Q<3> M2YR2D=)&+$K6>AMQ>9%*M+G GJP>&]VY,T^CWXJ<2:2+NN''18%4? 3 M>?T]#'TCK_^.O!NUX47VA_&OPZ; 0.99RFWB (R%$I4HM-V0:_8Y*P!.!M26 MV!3(4EVQ?T_N*JV09__YB47QWJ+86!3_?P/S4R54\<=5R1-QVB[)0W4OVF=A MW&63V>QB=7%S/;ED-XOY[8362S:YGK'SR>7D>CIGRZ_S^8I=7'^^N;TRQVPJ ME$878-G!(L;OT B8W@I@NBMY\?2/BLF#.R TAT^"JZHE*#D80BMV=T+MPTO? MX=BXCL4(3#E:2=4%94DLA 5434VQ"%6Q%21:HJS8L RH^9Y#H>.LY$I3Z/*L MTK13UBK9HK+!VG/629CSDLXKFH M/K&UDKLWSTLETSJQ AN([$'06R7$/PD*TI?)]#U CEL+;S$,OG$&FR,+%<'4 M6M:%3"1;P-F"7+OBZH?0A C(/K HQ!?0_-":4UK\8%]X@Z;#+E>S+D/A?F C M(@1+:\51)>PJ2Y'E@N_8$OF2):("\>64A:&C'8/T7*1*)C]0-^2S205#$S@: M$O>U!J)35:>"W0"N95V6^1,;XK3O*,ZY*H36, WX*&O6@@UP2I\8% MQCP:O MV"(K!26W(8@;(A;;+,^SLF+#H=FC3TC[JD;Q-,R;RNZ>H$^H< 3_T=GG0]5W MJ@W!:LI6XA&H-92O9HP@BYQYP"J1$(2^)]3FZ1 ,6.GI2-;GV:6O*%U4IE6M"?^>[\E^-H'Y1LBX-2^!^OAI"J[7JE1?$DI3)]KE\:WHI)(/8&IW0B%YKW$+^5+GZX,^ MPS>T:8-*TT*5*JO$(>]=\33L60)Q97#R.HS)0!1I+@VI!@1C)?H]H\9IJ#(GUIAT&=IMEX+1?72 M&#?SQT24FM'P0#="&NDMCP<(X<4JKRH$?*T M-B6VGU)V8+-WYE/73& /'T='%;: MWG;$(X9\)5Q2UO<>-N0=#QRM\6CEN_T6"=O[*X]6)L3GF98<)G M?Q@3R0JCV+@OF^BT[#RG _/7 K MC\T: ^DE5S3H!(/($-)RN%^.'01=1D9KDB3U MKK9P[@[#P#9^#4='5FTG& =F MU>_$UI0_'0KC35:8#$JQ>):<#JFG%D]^K[/*7):A'_F2^^Y$I*F95"7=T(_A M^)[47/R:(8HB%Y,HC-VJ;]UMS0XR',1CZ]R1Y0G'83,@S\T&&.'8BQ[YP _B MP5^! MT7?S--X3>OSW35?#L-EW09->0-R& ,J/O3(@[PW[HS?&!;C4:I[,P[_4LI9V#"B$],GF4"^W&,/@;]*UI02W7!@?L9'I+4; M#E\C]B9C9!FC+B[>YN<%=F\R!=TX,C_]V/Z,_P<)0Z'9^'NAZ9RDUV8W=6I@ MV\RDVSW&(Y_&8>0!#ONV%1TNK_M^;8G[-F'BL2LD_,W$WV9[H_+]@2KH5?V$ MKFG8?!F\'_DC;]78)[,KLK?^A/<:;THP23?F?5#%S+"T+TWVN_M73A/[IN5 M;M]7X=J!RV?%MNV3#V<02/OCD?IJ.^XX>N-L1V3DZ..K6$!YE/W06%K M,J#4O 6AN11$P>IX=)H>GN5VOIOP.X<[O6,3&\E2RL^V<54?CQ)+"!JHC$5@ M^',+Y] T%@AI? F8HV%)Z[AK]^B_NM@QEB73<"Z;/WAM-L>CV8C4L&+;QMS( MNW<0XBDL7B4;[;[)G9]+YR-2;;61;7!&!BT7_I?=!QUV'&;),PXT.%#'VR_D M6%XPPTZ.E+PCRLY&-&NX4)TWDN/")F5A%(YR]#,G9UN-/5J3!:Q1:Z./)@9A M[>"D"A!G'H(^ Y%2]@Q>B(W<0">5X6)-_CI=:J.P)/Y^ 3X?X','G_\?#5^&2(LQ.?NT MN'I_N5B0Q>7;Z\OW'Q?DXP;(N6P[)AY^T<1L% !9]HOIL!AA"LA>ND\D;P@3 M-5DS3>"^:Z1BMO#CB%5?MEQSUR"=DO6V\K:=C=O;S],QV:/[!%41VLK$_*[! M*1524+BD;H6UZ! MMIVW' MQ[/1;R08/'LQYQ%&J_O"Q;C0\MBZQW5@Q=GLC! S!% M4#,N:P*VW@E6*[1+4$/%'D9_VDF7WXU&=A2GI'/[-8MNX!;$%O2AS5_TVS/Y MVTD9>4.R."VF<9(D:.?Q/"^#7<9IXNSH<5:CMPBW9AB 0A'B1\FT,V=S!Y#2 MPO]F'@2P9#J7*X5?K$&NW[+JNPB=4N=#\YG_S5P[LB2+=!:(%7&6S@>2^31W M]$SS,GU*P"LL M2*Z<%E@UN[N,:0U8( ?V\R.=4R]O$/G5&A<^+;E/N1<:!]3H:9(-B4J'ZL_B/'=Q_R!+WR6$^+1[G-2K^T2.TIB6 M?3KHM Q6Y@LHLB63AQ1EH0!R5)P^GRR\=?!@*<-&IDE<) $5>],R..YDRDC+ M(^CXQE9+.4UZ);)X-N^EH#ER\(WWTKC;]9"<-O9JLS@ M!.+[1QLH/0[.%)V?"@"+IMG6B+$& ?9"M4.LQD<>MV\3^UJ-PJF&%ZWW$5(< MA&SB*R:4G?4+$YT=N@V[AX%$]B,2%=,;/%:K2F[=HP)G"/34&&H%_-:68!S9 MZQSO9?70\\%"0S;FP7,8"L.S,$RL^;?2'3_UU)KL/%U1M+5[H",;R\*_8H?> MX3_ J7_Z?ION_T!<,[7F6.(-K- U&4^+$5'^4>X;1G;N(;R4!C/DS W^CP%E M)^#X2F+ H6$7&/X9G?P#4$L#!!0 ( "YFCU*&%G)SI ( )8% 9 M>&PO=V]R:W-H965T\R M$'H8Y,94_3#4:8XETVU9H:"7G50E,R2J?:@KA2QS3F41)E%T$Y:,BV T<+JE M&@WDP11UVB>JZ4B*6Q0,EZB MT%P*4+@;!N.X/^E:>V?PD^-1G]W!5K*5\M4*LVP81#8A+# U%H'1\8;W6!06 MB-+X76,&34CK>'[_0']TM5,M6Z;Q7A:_>&;R8= +(,,=.Q1F)8_?L:[GVN*E MLM#N"T=OVZ&(Z4$;6=;.))=<^).=ZCZ<.?2B+QR2VB%Q>?M +LL'9MAHH.01 ME+4F-'MQI3IO2HX+.Y2U4?3*R<^,UH>J*I"Z;*1ZAYE(98FP-LPXW2 T%,-: MAFF--_%XR1=X<0)S*4RN82HRS/X&""FY)L/D(\-)+^:3Z%]6:\<3I2/#ZMYN/-[&D!FQQA M)PMB(!=[X)2*AB,JA#1G:H\99%P138IWVQ<\$>,U]ELOR)0?(] 0L-RBLH-H MV4'0-.([^^FUYD1]@[:7"$QD1-6*<:7A&]Q<15%$9W)77[JW]M):*ID=/"L- M.]$TXMB;)E''G]W$&6[LZQ5(DU-HDS,!%7M75(@+Q'UO:PB/$/?[(-6K?7@>@_!;P@I&5 M8]Y6&N*QN^:T.%%9 WK?2?H7:\$&:%;QZ ]02P,$% @ +F:/4IX**I&ULK59;;^LV#'[W MKQ"\@R$%BD22K^F2 &G38@5VSGIZV7 P[$&QF<2H;>5(2M/^^U&^IEMOV/82 MDQ+YD10_*9SLI;K7&P!#'HN\U%-W8\SV9#32R08*H8=R"R7NK*0JA$%5K4=Z MJT"DE5.1CSBEX:@06>G.)M7:E9I-Y,[D60E7BNA=40CU= JYW$]=YK8+U]EZ M8^S":#;9BC7<@+G;7BG41AU*FA50ZDR61,%JZL[9R:EO[2N#WS+8ZP.9V$J6 M4MY;Y3*=NM0F!#DDQB((_#S &>2Y!<(TOC>8;A?2.A[*+?I%53O6LA0:SF3^ M>Y::S=2-79+"2NQR./ J[SI0E>5"&#&;*+DGREHCFA6J4BMO3"XK;5-NC,+=#/W, M[.M.* ,J?R+6?3(RB&EW1DGC?UK[\U?\&2>?96DVFIR7*:3/ 4:83)<1;S,Z MY6\B+B 9$H\=$TXY?0//ZRKT*CSOW0HOLE*4229R*2!_ MS)?:*"3*GV_$];NX?A77_]BL2F+IXW32H!W!GA$5#\O5N?GU[ M?OW+-[*8W\[)X.[+_&YQ>7N^."*W&R!&+',@2WO?[+6Q_->DO@>0DN]=6MG! M(:!$#/H^@5#: =M*@HV 8@FJ:X;]96,BRM0*\=#YAM9UW_]I[%QD2AMR XE$ M^]M-IE)R(7?*;)QK>(!R!^03&8?^,:44I<"/&XD=,R_HY,#C5G;.'_$9TD & M[-C#3.SVD55H$!PH-&P5]*H]R9'SZQ84EEFNL>1$%@B"_=9HY 6=?4"C1F1\ M7$FXU,1QSG9*06GP9!_)8*OD0V;?I",\XQ)6F2$AJPP9\VI/WVNPP@K!6< * M$"%]%8 WCCQNDZBS85[U=;[@Z_P\]T]H'#4%6L7GO<*HUYS?P&O$(^="9$;P2R7JX<1"Z0!?C:)/?.J=!94G4YS?*=Y0P"T2'UZT@HA96$ F\6 M @SP.AG8^$-DP,Z.^\;[<=3)GD][.0S^3@C?9ST'(N;W2A"&O1*RX#U"^#U_ M>-2+_6KP44H,VBRXW[ I[C.I(=YE151;QG7,<0TP8"U37V0%9VWK&?=Z>K X M[!6OS>4_DN+''V+.^$\-!WA'#Z^3_+=Y$7^0%Z'75H4D#[V>(]&X?RCJ2_CL MH8@/>!%$![SP:*?P8T;C=WC1MMV/ZW@L"IJF^M%'^7# Q(Y9XXX3[8OQ/BE8 MTV'NT88/W3/0<>Q%9GBTO5P1Y2U)QD%/B]#_?VA1]=U^&&UHP#I"C%%ZZ;]U M=##!%*#6U9RF22)WI:F'F6ZU&P7G]034F]=SY&>AUEFI20XK=*7#*'")JF>S M6C%R6\U#2VEPNJK$#8ZSH*P![J^D-*UB W0#\NPO4$L#!!0 ( "YFCU+\ M&HF,?Q !8N 9 >&PO=V]R:W-H965T3(S]A17!H2VNU7)MFZB*F]CV9G*(X*6Q 31NBQ7=G[]?.=T@]#F M^":9%UM ]]F7[S1\7*OLUWPA92&>ETF:?SI9%,7J_?EY'B[D,LA;:B53/)FI M;!D4N,SFY_DJDT'$FY;)N>+PJZRB0A0A#CJZ%Y M4K.DCU/HG:?3I$+U0)3G_ M%6N]MMT^$6&9%VII-D."99SJ_\&SL4-C0]\YLL$S&SR66S-B*:^"(OC\,5-K MD=%J4*,?K"KOAG!Q2DZ9%!F>QMA7?)Z4JU4B8>4B2,2#S&7V38IQJKT-LWT\ M+\"%UIZ'AN*%IN@=H>AZXD:EQ2(7HS22T3:!([GO$*O7>O<9GKM(_1N52%S42CQ)4Z#-(RA^:0("K9"_@I]OZ;O,WW_+[3I MJQ0I,]_GJR"4GTZ0>DSPY+/;;XG)T_W]]>AF=/LXO!8/H\GHX>>1&-]^N7NX M&3Z.[V[%Z=/M\.EJ_#BZ.A./"RDNU7(5I"__^%O?9^B8CH>)$ M!&DDTJ H,T@^#W)AF.4"O]7,@B?D@T89%+$E*6ARB)X18JY3"7D2%[HIEP1H94L M,I7(-9!:GA.\)?O(4$FL-B+[9Q5:C]!E?I M2&=U(C0)4>:UPE85#YPX"C+F+2X46PO)SY5/]S>(..?.B!*2BD6,GD462V@' M>F/.P8RE4I^A3BULZXKT-K9$*+C+M"D,?31+*! MB6)>0L1O,2>'23?085]9NE;MU?\JC!%\.BDH^BM78[O*"I1T*"0N @#"!)Q M::+C&7+.,\EU>U]"TF.6J26V+H/_JLPJ4W@VRQ&A+!Q1)4-FFE2<&G'9P"A; M:AF'C;*N';\3A!+!^A/R$N@G9_6,?W5^;,HAZE "VX>:DFU5M:V2!>QF9^G>OZ+=$*M!F1@J&.V5R^ M(D)NU4+KP 4WQ(")419FJMCZ=71RDW^N+FU>6(,)K<@Z3HA70HA_0XAK(,6+ M]DAUWS(+=;,S=32FU#7%4QMZAE5J37OW0D^L8:U-X9//L692!R\X6YNB@;N1 MAB&M.BSVBPWG\B%DI;FA4H74W\"RS#G@A.N]6Q+>%@!>&>8H3/,XBPOWD7!RSLU>T"3:4F"?*%*A.$CBH MLRFJ"+:11]&$I>Y. >7@#0Q-J,^DRA;R.D:DBI3*VIC3?Y5FD]CN(/_,7Q\8 M3$O2_M+IR2RGLN[5&F4RH**R#2[@:5446N*2$1\Y3HSJ6>+?M;NX0&IW'2RS MIT]I0*581F?OK8/;JJ7OQ6561I+)W!IE0,JZ0'!1;]H9>]R>:#M]>^ [HF>[ MO;;MMQUK$B2:=FT!"IL$,YO@9NM]J/Y;P]" $(0-4H:%;_57ATZY#=+V> MW8&\9P<5[O6)V*#WJKJ5Y5S/M7WG+2KW;=_OBE,(Z_JVTVF#^Y;2KCUP!R3< MP.W:?J?[BM(#F*UO]_R>\$%M8'?[[I_ULF?WNZYP>W;;=]^B=T7K+:[NVH[3 M9W?V';#I[6C>=NR!PV[IP?-^MW-<<\\1KN_;/2SW8"Z$SL"Q_B5N A2@)%>4 MOPFE2P0\!Q&XH-E<2[A(A9NT;0"(EF62[DJ7Q&;Z?5?FOGF5)E<1."X@\RT=T%)6ZG1C4* MS,%:Q9WASPAC577S#PMST3-B<^B6UT08DF!TZ M: &T!I^803//7ZE<-XN+;8[:-!C"HG@)%X9QKC%\7O)L1)[%3Z!T'HI$9BI0 MJS[0W,'!>GC3QP6-0SQ&:KD)I^I0Y\4Z=J2S.9E=)LRWD!M0N/542)&ZMHHS62^5881>73!N!0#Z3*(M'FJ4Y(654LP M24LZUZJBG_*M!GO&_;7K^:B)#W3II(#I_8'T6&*W $8H(Q%TU>B\ MO:G6'UEODA+&7*IL,PK$FT,+^),""UN_!7%")8^K54SH/\! CCLO8J5R?3A% MLMH6M@3D*UBV@0],J]B,QM78L)G5C [$5H=:+O%1O2*M.M9(^C]0O]Y'=\6_C*8GRE 1F*LO6E:L=_F\QL_=O#;T+B?$C;1S\4=D_+MX/8F#W!AP@FT&OD2@VR[%]W&,BJ]\; M-)S9J0T*5PU,Q%F$U!NUS_1=W8)WZ0VZ[0V)3J=O+CQXWOBX'A[M'7 75:4T MD5S?=%_:SAA7.\KO<;I95T=?IX@!1["H8MI$V.%YU(#0ET8-9D4\+;NC53(I MV# '6Z/,<%%AT,KXRYC?TS6F;(QXW:XO3-%H,TGJ;IFL"FB-)+HFKBE'=%D9 M:"_ML-Y*RUY/F^;4,RE&'C62GUEW/'6<4J&B&=KG!.I[9J'?-KY)&4&88'M# M7DSNQ[=7UZ/'NWMQ-[X6_PB6JP_BQ^%$7-YA-+J]$I.GB\GX:CQ\&(\FXN?A M]9-^N4^/_OTTO!Y_^65\^Z,87E[>/=T^3L0OH^'#1(QNKT97XFIT.;JY&#WL MO;*GS9PED\N?1E=/UR,Q%N-Z8K[4\<*27%5@CC_I(.0ZI'-+7D<8+%+EM)B5 M2?76,M__3H#TK4I[%83-7VX5B+LS_1_;UW_COHWJX['U75ZP'D;#:S&:/ X? M1_P0QG^Z>;K&)=G\_F%T.68G66/Z^ %F"Q*^.I2T>BL^_VC*LP3J)"'6;SB MVR-DWW+*N#X7UY01%V6)WJ @$V^FE MEZ14F-% ,C4[S2163M_-,T+B&-9^I=M83;--XS.%*_1[*G:/\AG@X'1Z1H'; MK\/6[GI^U:0]SA'K1X92&FCD!+/7BQ@C$$&06.-N?L%=)86UHY*V I*X7!H4 M?U9"A*8)GMUVO%LWQ3?8&9QC[SKT>?9SF6_4'/Y-P@5@&*"5_ MTZ*)1$M7JJ#Y6GC5&[U#WP4)_46;>3M+F%2[$"/B0D6ZCC/\:UEDLEN52NLT MU*HG9HH<@.CO3E..4IPU^D6?>I 4-8VRQJU[UDAUS(?=:H,XVPO0T M#?'[!?3+\3:WAJFKA+=WJ3@=MNB@WS76]0>FUGXM4?MU.?!TB47P-D0T;\>% MZ51'&72IG0T,D-$%?9MZVS].W#21H\1[@HJT;@">XQ\@WC].7 MUG'B?B)N6 MV';V)3],U34KCY(=-,CZWT'V=3N[3H-LQRS^\]*Z;H-L]\UD.[\CK->DVO'> M2M5[G6J[0;5W(!K^&%6_2;73?2-57:*.4^TTJ/:=]E]$M=NDVGEK;/T>U5Z3 MZJ#W5JK]UZDVTVO@=_XB69O9-1CL1Y;P7RDWGS7'\Q?1-DF&\(Z,^PU6GU.B&PO=V]R:W-H965T34HA=;1:AKVU72U-[974N+;@ZK(4=G>-RFPO MHUG4;3S(O/"\,5DM*Y'C(_K/U=K2:M*CI+)$[:318#&[C*YF[Z]/V3X8_"9Q MZP;?P)ELC'GBQ6UZ&4V9$"I,/",(^GG&&U2*@8C&EQ8SZD.RX_"[0_\QY$ZY M;(3#&Z-^EZDO+J/S"%+,1*W\@]G^C&T^@6!BE M_8=O8+L@XJ9TW9>M,#$JI MFU_QTNHP<#B?ON$P;QWF@7<3*+#\*+Q8+:W9@F5K0N./D&KP)G)2O:53 M27Y^=2V<=& R6%MTJ+T(6AVMC9*)1'>\G'B*PK:3I$6\;A#G;R#.YG!GM"\< M_*!33%\#3(A>SW'><;R>'T3\B,D8%K,8YM/Y] #>HL]Y$? 6;^!=)8FIM9,#M3WM:WMZL!+W M-A=:_M5&HGK\*GQM0Z#["AL&;E^!_P?8(& K9Y#)-%XD%"WV22$U/&+EL=Q0 M]\PNSD_C$6TE1NOV5@P%9H762FB.]H!F2.4HZ@ZCXQ@PRS!$^O &K$BE)X MD30RD6IVO0'EF>^,J69%L M)W&N58Z3]&8JW7&U.SL/6_M D9"$#DEH"-*.^M?ON>%"B5)W>O8ED27B #@X ME^][UR;KK-B\>/W;%6M>YF]J-;N"7I6WKO(,_V]5C MMVEU7M*@NGI\/IL]?5SGICEY\XJ^NVW?O+)]5YE&W[;*]76=M]NWNK(/KT_F M)_Z+7\QJW>$7C]^\VN0K?:>[+YO;%OYZ'*B4IM:-,[91K5Z^/KF>OW@[O\(! M],1_&_W@DL\*M[*P]BO^\;%\?3+#%>E*%QV2R.&_>WVCJPHIP3K^)41/PIPX M,/WLJ7^@S<-F%KG3-[;ZIRF[]>N3JQ-5ZF7>5]TO]N&_M&SH"=(K;.7H7_7 MSSZY/%%%[SI;RV!806T:_C__)HQ(!ES-#@PXEP'GM&Z>B%;Y+N_R-Z]:^Z!: M?!JHX0?:*HV&Q9D&3^6N:^%7 ^.Z-W=\&LHNU9U9-69IBKSIU'51V+[I3+-2 MM[8RA=%./?*?3E\][F!J)/"XD&G>\C3G!Z:9GZN?;-.MG7K?E+H<$G@,:PX+ M/_<+?WM^E.([74S5Q7RBSF?GLR/T+@(C+HC>Q0%Z8SO^G^N%ZUH0G/\],L%E MF."2)K@\,,&-;1P0+G.4QC$.?L=P]>M:JR)\HTNU-$W>%":OE.O@"]";SBG3 M%%5?:M7!TSGOS]%);TQ35KJSF^RSJ=0/>;UYJ7[,G;JQ4Y4WI3+PW,/:5A4( MQD,#Y%V_<*8T>0MLF:C;-C?P2=V:C<9UAG&1L'K7FJI";M[8>I,WVZFZKF!Q MB8R9IM/M6<$_9\#GQN6DJHYHA06O\WNM%EHW"B8#%<#]3H\!XPU(6L_' M]F ZH 9:WO6MZ;89G%BW;K56-:N0;56E'5#I5 <6$D_4MF8%G*F4<:X'08 S MM\ S5>!Z=%S/,;X]#7Q[>G2SGT&<6O6QN=>NJP_QZSM)*/[&K6W;G8%8U,3- MRC8K_LLDCQ(;78?;+G3;D3AUVB&;2KVQSG3,0>$?*C+\5-L6%2%O!KR!<<^.[AH4P#[0X8 W5>]LO^B6 M?>5M[2@;_RV" ^=V#\*%NH?@EXTH_+F@<" R(4F- M!J."JR+U!V+WX(-9^D&2^[:%XR?SUKL#LQXYI*MP2%?'11,,(LZ/YO"V!?33 MH@2-G _<@/$NM;=VI;)!E$X\9S0*%M394AU!50W@>J4 MCKPMX&5;]B=(L]3W -(VJ&1D M4F0##:H1'!5.V6JG6]#$+&_1MFQ,EU?F=Z">&&QT1KC:AK=3:#3SX#1P%D5/ MM-NSQ?9,/J)8&-@!8"RE\V*=CIH,YJ M3]Q(J_D' M &<:A :-*W@9T/[\&WHOMT8&-;8##A2:%B_*KQZ1I,4%P'\&G=AI4 DZ+("P M()8OLOR4SG.#;('19"B0=5%EECTP3ZL&X#6(LVYZC?:KWO3XXV*+QJ9"ZY-Y M\=Z 7K#!.L9_]8B.TSN4W"LBC58%6+D5$FG O\B2];>.R9,5H+EA-($;V!B< M9XMCR,">XIB]+<#(LB_B1/8>E5G6.%A;3LO'21&:^,]X),#715Z1X>&00SBG MRTE&'FUO5C0*36GP,VPZ6!#/+1*)4_%U<,J]'+>79;+KL#Y>//[5T7G1XL." M_8%DO:,!JC2.I!/L?P&6BK8 \ .T#<6"A1W\;(U/(Q=-TX)4\!L[L:C'))0++=X(A5J7,J;@,6 O-*V'![7?[TY*>E:?@I;WR*+U<@K%V0<& [Z6![UJT MVDBB>T"8AD0Q#B-&P;B,5-P+0FJV/N(*PYRRDE3G4'LD?XX]DM.;'%1-@U*A@%06A;$$ MB 'J2QL#]V6)JP]K X8L(6K!7+5HIFOOL< .MSP%2.X#P!04,+M^@ C!KW"QM:E)%'CU.[!J@I:D&I$>3+>!P<@] M6&[!-)E68%FT7G$5*!C>/QX+99X'E/S\*+J]39GVWC-M#"7_%3HI2IX0GJ"- M6#+].1Y@."?:YD.#0?507C)4( \[*=@[Z^P9??"0\_ LE(S ,<-X!=$CK9? MK0F)R_<9?@^*!+*";L5M7:=KF-9@0,- C&VW6FJ]8XZ-BWC,-"$ =?URB?DG MWAR[N>#'),HE(FA%2;'=SF&#/)':FQ0?H U&=%@9 I!/<,Q\IK8Z;X-8HGY& MUNZBS[#-+&SS$JD\28BPUHSKU"FS'%-JF"L]H]11#'?*'=[T3OQ>S&V!G*.U MAA5L^A9<$BHAJP@$!+I"!L 8)LG:%(@@?O&#CFG ?!8SI[.CLON+AA6])__L M([SM:&;T^\D,PD00;P?P&>T])D1\>JA[L&<81R.0KVN IL@@BZ(#WJXW%4:# M&2,18"8XKYXQ&YR/1E"2S-NQ")L!<&-UCXC!KC M!W5]=Z-^A5BL4!=/9Q/UP]^NSL]G+Z^'R0T\@8\U>C&&)ZUZ9\ ".SHR]0D3 M@9\,(J9K,GA$9/YRXI$TGC.L)0^6)UOH$!YK\K(Y 6ZS]!&\EW!TKD4"U2AE MNJ3$S", 4!(*2HX#=<_VDKO&>):]+<2@H&,4EDB*44FP[H#CQ,(8[F/RIA= 0B#%XQX1A!P_&N2:2+P10Q>L3>#H:.<2<8A(M6I ML%HU?SY!\88/5Q ]TJ,#OHWJW%%#<+\#

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end

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end XML 80 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 81 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 82 FilingSummary.xml IDEA: XBRL DOCUMENT 3.21.1 html 250 340 1 true 70 0 false 7 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://spindletopoil.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Consolidated Balance Sheets Sheet http://spindletopoil.com/role/BalanceSheets Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Consolidated Balance Sheets (Parenthetical) Sheet http://spindletopoil.com/role/BalanceSheetsParenthetical Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Consolidated Statements of Operations Sheet http://spindletopoil.com/role/StatementsOfOperations Consolidated Statements of Operations Statements 4 false false R5.htm 00000005 - Statement - Consolidated Statements of Changes in Shareholders Equity Sheet http://spindletopoil.com/role/StatementsOfChangesInShareholdersEquity Consolidated Statements of Changes in Shareholders Equity Statements 5 false false R6.htm 00000006 - Statement - Consolidated Statements of Cash Flows Sheet http://spindletopoil.com/role/StatementsOfCashFlows Consolidated Statements of Cash Flows Statements 6 false false R7.htm 00000007 - Disclosure - Basis of Presentation Sheet http://spindletopoil.com/role/BasisOfPresentation Basis of Presentation Notes 7 false false R8.htm 00000008 - Disclosure - Summary of Significant Accounting Policies Sheet http://spindletopoil.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 8 false false R9.htm 00000009 - Disclosure - Account Receivable Sheet http://spindletopoil.com/role/AccountReceivable Account Receivable Notes 9 false false R10.htm 00000010 - Disclosure - Accounts Payable Sheet http://spindletopoil.com/role/AccountsPayable Accounts Payable Notes 10 false false R11.htm 00000011 - Disclosure - Notes Payable Notes http://spindletopoil.com/role/NotesPayable Notes Payable Notes 11 false false R12.htm 00000012 - Disclosure - Related Party Transactions Sheet http://spindletopoil.com/role/RelatedPartyTransactions Related Party Transactions Notes 12 false false R13.htm 00000013 - Disclosure - Common Stock Sheet http://spindletopoil.com/role/CommonStock Common Stock Notes 13 false false R14.htm 00000014 - Disclosure - Income Taxes Sheet http://spindletopoil.com/role/IncomeTaxes Income Taxes Notes 14 false false R15.htm 00000015 - Disclosure - Cash Flow Information Sheet http://spindletopoil.com/role/CashFlowInformation Cash Flow Information Notes 15 false false R16.htm 00000016 - Disclosure - Earnings Per Share Sheet http://spindletopoil.com/role/EarningsPerShare Earnings Per Share Notes 16 false false R17.htm 00000017 - Disclosure - Concentration of Credit Risk Sheet http://spindletopoil.com/role/ConcentrationOfCreditRisk Concentration of Credit Risk Notes 17 false false R18.htm 00000018 - Disclosure - Financial Instruments Sheet http://spindletopoil.com/role/FinancialInstruments Financial Instruments Notes 18 false false R19.htm 00000019 - Disclosure - Commitments and Contingencies Sheet http://spindletopoil.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 19 false false R20.htm 00000020 - Disclosure - Additional Operations and Balance Sheet Information Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformation Additional Operations and Balance Sheet Information Notes 20 false false R21.htm 00000021 - Disclosure - Business Segments Sheet http://spindletopoil.com/role/BusinessSegments Business Segments Notes 21 false false R22.htm 00000022 - Disclosure - Supplementory Income Statement Sheet http://spindletopoil.com/role/SupplementoryIncomeStatement Supplementory Income Statement Notes 22 false false R23.htm 00000023 - Disclosure - Quarterly Data Sheet http://spindletopoil.com/role/QuarterlyData Quarterly Data Notes 23 false false R24.htm 00000024 - Disclosure - Supplemental Reserve Information Sheet http://spindletopoil.com/role/SupplementalReserveInformation Supplemental Reserve Information Notes 24 false false R25.htm 00000025 - Disclosure - Basis of Presentation (Policies) Sheet http://spindletopoil.com/role/BasisOfPresentationPolicies Basis of Presentation (Policies) Policies http://spindletopoil.com/role/SummaryOfSignificantAccountingPolicies 25 false false R26.htm 00000026 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://spindletopoil.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://spindletopoil.com/role/SummaryOfSignificantAccountingPolicies 26 false false R27.htm 00000027 - Disclosure - Summary of Significant Accounting Policies (Tables) Sheet http://spindletopoil.com/role/SummaryOfSignificantAccountingPoliciesTables Summary of Significant Accounting Policies (Tables) Tables http://spindletopoil.com/role/SummaryOfSignificantAccountingPolicies 27 false false R28.htm 00000028 - Disclosure - Account Receivable (Tables) Sheet http://spindletopoil.com/role/AccountReceivableTables Account Receivable (Tables) Tables http://spindletopoil.com/role/AccountReceivable 28 false false R29.htm 00000029 - Disclosure - Accounts Payable (Tables) Sheet http://spindletopoil.com/role/AccountsPayableTables Accounts Payable (Tables) Tables http://spindletopoil.com/role/AccountsPayable 29 false false R30.htm 00000030 - Disclosure - Income Taxes (Tables) Sheet http://spindletopoil.com/role/IncomeTaxesTables Income Taxes (Tables) Tables http://spindletopoil.com/role/IncomeTaxes 30 false false R31.htm 00000031 - Disclosure - Cash Flow Information (Tables) Sheet http://spindletopoil.com/role/CashFlowInformationTables Cash Flow Information (Tables) Tables http://spindletopoil.com/role/CashFlowInformation 31 false false R32.htm 00000032 - Disclosure - Financial Instruments (Tables) Sheet http://spindletopoil.com/role/FinancialInstrumentsTables Financial Instruments (Tables) Tables http://spindletopoil.com/role/FinancialInstruments 32 false false R33.htm 00000033 - Disclosure - Additional Operations and Balance Sheet Information (Tables) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationTables Additional Operations and Balance Sheet Information (Tables) Tables http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformation 33 false false R34.htm 00000034 - Disclosure - Business Segments (Tables) Sheet http://spindletopoil.com/role/BusinessSegmentsTables Business Segments (Tables) Tables http://spindletopoil.com/role/BusinessSegments 34 false false R35.htm 00000035 - Disclosure - Supplementory Income Statement (Tables) Sheet http://spindletopoil.com/role/SupplementoryIncomeStatementTables Supplementory Income Statement (Tables) Tables http://spindletopoil.com/role/SupplementoryIncomeStatement 35 false false R36.htm 00000036 - Disclosure - Quarterly Data (Tables) Sheet http://spindletopoil.com/role/QuarterlyDataTables Quarterly Data (Tables) Tables http://spindletopoil.com/role/QuarterlyData 36 false false R37.htm 00000037 - Disclosure - Supplemental Reserve Information (Tables) Sheet http://spindletopoil.com/role/SupplementalReserveInformationTables Supplemental Reserve Information (Tables) Tables http://spindletopoil.com/role/SupplementalReserveInformation 37 false false R38.htm 00000038 - Disclosure - Basis of Presentation (Details) Sheet http://spindletopoil.com/role/BasisOfPresentationDetails Basis of Presentation (Details) Details http://spindletopoil.com/role/BasisOfPresentationPolicies 38 false false R39.htm 00000039 - Disclosure - Summary of Significant Accounting Policies (Details Narrative 1) Sheet http://spindletopoil.com/role/SummaryOfSignificantAccountingPoliciesDetailsNarrative1 Summary of Significant Accounting Policies (Details Narrative 1) Details http://spindletopoil.com/role/SummaryOfSignificantAccountingPoliciesTables 39 false false R40.htm 00000040 - Disclosure - Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) Sheet http://spindletopoil.com/role/SummaryOfSignificantAccountingPolicies-AssetRetirementObligationDetails Summary of Significant Accounting Policies - Asset Retirement Obligation (Details) Details 40 false false R41.htm 00000042 - Disclosure - Account Receivable (Details) Sheet http://spindletopoil.com/role/AccountReceivableDetails Account Receivable (Details) Details http://spindletopoil.com/role/AccountReceivableTables 41 false false R42.htm 00000043 - Disclosure - Accounts Payable - Accounts Payable (Details) Sheet http://spindletopoil.com/role/AccountsPayable-AccountsPayableDetails Accounts Payable - Accounts Payable (Details) Details 42 false false R43.htm 00000044 - Disclosure - Notes Payable (Details Narrative) Notes http://spindletopoil.com/role/NotesPayableDetailsNarrative Notes Payable (Details Narrative) Details http://spindletopoil.com/role/NotesPayable 43 false false R44.htm 00000045 - Disclosure - Related Party Transactions (Details Narrative) Sheet http://spindletopoil.com/role/RelatedPartyTransactionsDetailsNarrative Related Party Transactions (Details Narrative) Details http://spindletopoil.com/role/RelatedPartyTransactions 44 false false R45.htm 00000046 - Disclosure - Common Stock (Details Narrative) Sheet http://spindletopoil.com/role/CommonStockDetailsNarrative Common Stock (Details Narrative) Details http://spindletopoil.com/role/CommonStock 45 false false R46.htm 00000047 - Disclosure - Income Taxes - Income Tax Expense (Benefit) (Details) Sheet http://spindletopoil.com/role/IncomeTaxes-IncomeTaxExpenseBenefitDetails Income Taxes - Income Tax Expense (Benefit) (Details) Details 46 false false R47.htm 00000048 - Disclosure - Income Taxes - Deferred Tax (Details) Sheet http://spindletopoil.com/role/IncomeTaxes-DeferredTaxDetails Income Taxes - Deferred Tax (Details) Details 47 false false R48.htm 00000049 - Disclosure - Income Taxes (Details Narrative) Sheet http://spindletopoil.com/role/IncomeTaxesDetailsNarrative Income Taxes (Details Narrative) Details http://spindletopoil.com/role/IncomeTaxesTables 48 false false R49.htm 00000050 - Disclosure - Cash Flow Information - Cash Flow (Details) Sheet http://spindletopoil.com/role/CashFlowInformation-CashFlowDetails Cash Flow Information - Cash Flow (Details) Details 49 false false R50.htm 00000051 - Disclosure - Concentration of Credit Risk (Details Narrative) Sheet http://spindletopoil.com/role/ConcentrationOfCreditRiskDetailsNarrative Concentration of Credit Risk (Details Narrative) Details http://spindletopoil.com/role/ConcentrationOfCreditRisk 50 false false R51.htm 00000052 - Disclosure - Financial Instruments - Financial Instruments (Details) Sheet http://spindletopoil.com/role/FinancialInstruments-FinancialInstrumentsDetails Financial Instruments - Financial Instruments (Details) Details 51 false false R52.htm 00000053 - Disclosure - Commitments and Contingencies (Details Narrative) Sheet http://spindletopoil.com/role/CommitmentsAndContingenciesDetailsNarrative Commitments and Contingencies (Details Narrative) Details http://spindletopoil.com/role/CommitmentsAndContingencies 52 false false R53.htm 00000054 - Disclosure - Additional Operations and Balance Sheet Information - Significant purchasers / operators (Details) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformation-SignificantPurchasersOperatorsDetails Additional Operations and Balance Sheet Information - Significant purchasers / operators (Details) Details 53 false false R54.htm 00000055 - Disclosure - Additional Operations and Balance Sheet Information - Revenues, costs and expenses related to the Company's oil and gas operations (Details) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformation-RevenuesCostsAndExpensesRelatedToCompanysOilAndGasOperationsDetails Additional Operations and Balance Sheet Information - Revenues, costs and expenses related to the Company's oil and gas operations (Details) Details 54 false false R55.htm 00000056 - Disclosure - Additional Operations and Balance Sheet Information (Details 2) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationDetails2 Additional Operations and Balance Sheet Information (Details 2) Details http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationTables 55 false false R56.htm 00000057 - Disclosure - Additional Operations and Balance Sheet Information (Details 3) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationDetails3 Additional Operations and Balance Sheet Information (Details 3) Details http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationTables 56 false false R57.htm 00000058 - Disclosure - Additional Operations and Balance Sheet Information (Details 4) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationDetails4 Additional Operations and Balance Sheet Information (Details 4) Details http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationTables 57 false false R58.htm 00000059 - Disclosure - Additional Operations and Balance Sheet Information (Details 5) Sheet http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationDetails5 Additional Operations and Balance Sheet Information (Details 5) Details http://spindletopoil.com/role/AdditionalOperationsAndBalanceSheetInformationTables 58 false false R59.htm 00000060 - Disclosure - Business Segments - Business Segments (Details) Sheet http://spindletopoil.com/role/BusinessSegments-BusinessSegmentsDetails Business Segments - Business Segments (Details) Details 59 false false R60.htm 00000061 - Disclosure - Supplementory Income Statement - Supplementary Income statement (Details) Sheet http://spindletopoil.com/role/SupplementoryIncomeStatement-SupplementaryIncomeStatementDetails Supplementory Income Statement - Supplementary Income statement (Details) Details 60 false false R61.htm 00000062 - Disclosure - Quarterly Data - Quarterly Data (Details) Sheet http://spindletopoil.com/role/QuarterlyData-QuarterlyDataDetails Quarterly Data - Quarterly Data (Details) Details 61 false false R62.htm 00000063 - Disclosure - Supplemental Reserve Information (Details 1) Sheet http://spindletopoil.com/role/SupplementalReserveInformationDetails1 Supplemental Reserve Information (Details 1) Details http://spindletopoil.com/role/SupplementalReserveInformationTables 62 false false R63.htm 00000064 - Disclosure - Supplemental Reserve Information (Details 2) Sheet http://spindletopoil.com/role/SupplementalReserveInformationDetails2 Supplemental Reserve Information (Details 2) Details http://spindletopoil.com/role/SupplementalReserveInformationTables 63 false false R64.htm 00000065 - Disclosure - Supplemental Reserve Information (Details 3) Sheet http://spindletopoil.com/role/SupplementalReserveInformationDetails3 Supplemental Reserve Information (Details 3) Details http://spindletopoil.com/role/SupplementalReserveInformationTables 64 false false R65.htm 00000066 - Disclosure - Supplemental Reserve Information (Details 4) Sheet http://spindletopoil.com/role/SupplementalReserveInformationDetails4 Supplemental Reserve Information (Details 4) Details http://spindletopoil.com/role/SupplementalReserveInformationTables 65 false false R66.htm 00000067 - Disclosure - Supplemental Reserve Information (Details 5) Sheet http://spindletopoil.com/role/SupplementalReserveInformationDetails5 Supplemental Reserve Information (Details 5) Details http://spindletopoil.com/role/SupplementalReserveInformationTables 66 false false All Reports Book All Reports spnd-20201231.xml spnd-20201231.xsd spnd-20201231_cal.xml spnd-20201231_def.xml spnd-20201231_lab.xml spnd-20201231_pre.xml http://fasb.org/srt/2020-01-31 http://fasb.org/us-gaap/2020-01-31 http://xbrl.sec.gov/dei/2020-01-31 true true ZIP 84 0001017386-21-000113-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001017386-21-000113-xbrl.zip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