SEGMENT INFORMATION (Tables)

9 Months Ended

Jun. 30, 2012

SEGMENT INFORMATION

Schedule of financial information related to reporting segments

	Three months ended						Nine months ended
	June 30,						June 30,
	2012			2011			2012			2011
Revenues:
Oil and natural gas	$	4,940,000		$	7,657,000		$	19,137,000		$	22,644,000
Land investment	129,000			681,000			482,000			3,742,000
Contract drilling	1,212,000			490,000			1,918,000			2,871,000
Residential real estate	5,975,000			-			5,975,000			-
Other	96,000			143,000			493,000			300,000
Total before interest income	12,352,000			8,971,000			28,005,000			29,557,000
Interest income	6,000			18,000			21,000			32,000
Total revenues	$	12,358,000		$	8,989,000		$	28,026,000		$	29,589,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	2,299,000		$	2,299,000		$	7,701,000		$	6,840,000
Contract drilling	128,000			138,000			385,000			423,000
Other	29,000			24,000			85,000			71,000
Total depletion, depreciation, and amortization	$	2,456,000		$	2,461,000		$	8,171,000		$	7,334,000
Reduction of carrying value of assets:
Land investment	$	-		$	-		$	-		$	190,000
Residential real estate	-			-			1,854,000			-
Other	-			-			-			121,000
Total reduction of carrying value of assets	$	-		$	-		$	1,854,000		$	311,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	199,000		$	2,393,000		$	3,461,000		$	7,359,000
Land investment	129,000			681,000			482,000			3,552,000
Contract drilling	28,000			(481,000		)	(620,000		)	(596,000		)
Residential real estate	(15,000		)	-			(1,869,000		)	-
Other	67,000			119,000			408,000			108,000
Total operating profit	408,000			2,712,000			1,862,000			10,423,000
General and administrative expenses	(1,877,000		)	(1,201,000		)	(6,090,000		)	(7,334,000		)
Interest expense	(200,000		)	(242,000		)	(638,000		)	(862,000		)
Interest income	6,000			18,000			21,000			32,000
(Loss) earnings before income taxes	$	(1,663,000	)	$	1,287,000		$	(4,845,000	)	$	2,259,000