Note 6 - Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2018

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2018			2017			2018		2017
Revenues:
Oil and gas	$	178,640		$	132,348		$	464,895	$	465,710
Timber sales		56,929			-			411,936		8,966
Surface revenue		22,127			64,975			121,592		318,423
Total segment revenues		257,695			197,323			998,423		793,099
Cost and expenses:
Oil and gas costs		18,435			13,668			48,378		46,717
Timber costs		15,212			2,776			50,591		8,883
Surface costs		10,717			12,429			25,220		37,277
Total segment costs and expenses		44,363			28,873			124,188		92,877
Income from operations:
Oil and gas		160,205			118,680			416,517		418,993
Timber		41,717			(2,776	)		361,345		83
Surface		11,410			52,546			96,372		281,146
Total segment income from operations		213,332			168,450			874,234		700,222
Other income (expenses) before income taxes		(111,115	)		(76,443	)		529,639		(303,676	)
Income before income taxes	$	102,217		$	92,008		$	1,403,873	$	396,546

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2018		2017		2018		2017
Identifiable Assets, net of accumulated depreciation
Oil and gas	$	-	$	-	$	-	$	-
Timber		2,134,230		2,111,302		2,134,230		2,111,302
Surface		-		-		-		-
General corporate assets		13,388,113		12,537,150		13,388,113		12,537,150
Total		15,522,343		14,648,452		15,522,343		14,648,452
Capital expenditures:
Oil and gas		-		-		-		-
Timber		-		27,894		29,763		38,934
Surface		-		-		-		-
General corporate assets		-		88,788		9,554		88,788
Total segment costs and expenses		-		116,682		39,317		127,722
Depreciation and depletion
Oil and gas		-		-		13,896		-
Timber		-		-		-		-
Surface		-		-		-		-
General corporate assets		1,050		233		1,517		701
Total	$	1,050	$	233	$	15,413	$	701