Annual report pursuant to Section 13 and 15(d)

Note 9 - Restricted Deposits for ARO

Note 9 - Restricted Deposits for ARO
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Restricted Assets Disclosure [Text Block]
Restricted Deposits for ARO
Restricted deposits as of
 consisted of funds escrowed for collateral related to the future plugging and abandonment obligations of certain oil and natural gas properties.
Pursuant to the Purchase and Sale Agreement with Total E&P USA Inc. (“Total E&P”), security for future plugging and abandonment of certain oil and natural gas properties is required either through surety bonds or payments to an escrow account or a combination thereof.  Monthly payments are made to an escrow account and these funds are returned to us once verification is made that the security amount requirements have been met.  See Note
for potential future security requirements.