SEGMENT INFORMATION (Tables)

9 Months Ended

Jun. 30, 2013

SEGMENT INFORMATION

Schedule of financial information related to reporting segments

	Three months ended						Nine months ended
	June 30,						June 30,
	2013			2012			2013			2012
Revenues:
Oil and natural gas	$	4,774,000		$	4,940,000		$	16,019,000		$	19,137,000
Land investment	-			129,000			282,000			482,000
Contract drilling	248,000			1,212,000			1,668,000			1,918,000
Residential real estate	-			5,975,000			-			5,975,000
Other	157,000			96,000			501,000			493,000
Total before interest income	5,179,000			12,352,000			18,470,000			28,005,000
Interest income	3,000			6,000			32,000			21,000
Total revenues	$	5,182,000		$	12,358,000		$	18,502,000		$	28,026,000
Depletion, depreciation, and amortization:
Oil and natural gas	$	1,253,000		$	2,299,000		$	5,983,000		$	7,701,000
Contract drilling	91,000			128,000			314,000			385,000
Other	28,000			29,000			86,000			85,000
Total depletion, depreciation, and amortization	$	1,372,000		$	2,456,000		$	6,383,000		$	8,171,000
Reduction of carrying value of assets:
Oil and natural gas	$	-		$	-		$	4,506,000		$	-
Residential real estate	-			-			-			1,854,000
Total reduction of carrying value of assets	$	-		$	-		$	4,506,000		$	1,854,000
Operating profit (loss) (before general and administrative expenses):
Oil and natural gas	$	1,115,000		$	199,000		$	(1,918,000	)	$	3,461,000
Land investment	-			129,000			282,000			482,000
Contract drilling	(210,000		)	28,000			(274,000		)	(620,000		)
Residential real estate	-			(15,000		)	-			(1,869,000		)
Other	129,000			67,000			415,000			408,000
Total operating profit (loss)	1,034,000			408,000			(1,495,000		)	1,862,000
General and administrative expenses	(2,105,000		)	(1,877,000		)	(6,354,000		)	(6,090,000		)
Interest expense	(146,000		)	(200,000		)	(442,000		)	(638,000		)
Interest income	3,000			6,000			32,000			21,000
Loss before income taxes	$	(1,214,000	)	$	(1,663,000	)	$	(8,259,000	)	$	(4,845,000	)