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Statements of Income (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenues:        
Oil and gas $ 437,865 $ 358,013 $ 857,437 $ 847,004
Timber 15,089 41,382 15,089 55,141
Surface 16,779 56,612 215,519 89,427
Total revenues 469,733 456,007 1,088,045 991,572
Costs and Expenses:        
Oil and gas production 25,197 16,620 50,101 52,517
Timber 870 3,572 870 15,949
Surface 781 695 794 822
General and administrative 148,341 117,991 267,948 255,413
Depreciation and depletion 13,813 6,875 15,484 14,834
Total cost and expenses 189,002 145,753 335,197 339,535
Income from operations 280,731 310,254 752,848 652,037
Other Income / (Expense):        
Interest income 3,762 2,581 7,833 8,014
Net other income / (expense) 3,762 2,581 7,833 8,014
Income before income taxes 284,493 312,835 760,681 660,051
Federal and state income taxes:        
Current 83,784 96,384 238,813 200,059
Total income taxes 83,784 96,384 238,813 200,059
Net Income $ 200,709 $ 216,451 $ 521,868 $ 459,992
Per Common Stock (1,942,495 shares):        
Net Income (in Dollars per share) $ 0.10 $ 0.11 $ 0.27 $ 0.24
Dividends (in Dollars per share) $ 0.07 $ 0.07 $ 0.14 $ 0.14