Note 8 - Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

	Years Ended December 31,
	2019			2018
Revenues:
Oil and gas	$	500,426		$	576,976
Timber sales		72,847			454,177
Surface revenue		237,998			163,610
Total segment revenues		811,271			1,194,763
Cost and expenses:
Oil and gas costs		57,454			63,231
Timber costs		21,144			45,640
Surface costs		1,274			23,636
Total segment costs and expenses		79,872			132,507
Income from operations:
Oil and gas		442,972			513,745
Timber		51,703			408,537
Surface		236,724			139,974
Total segment income from operations		731,399			1,062,256
Other income (expense) before income taxes		(430,211	)		403,597
Income before income taxes	$	301,188		$	1,465,853

	Years Ended December 31,
	2019		2018
Identifiable Assets, net of accumulated depreciation
Timber	$	2,188,594	$	2,162,390
General corporate assets		13,673,936		13,439,611
Total		15,862,530		15,602,001
Capital expenditures:
Timber		26,815		45,067
Surface		-		4,900
General corporate assets		-		5,471
Total segment costs and expenses		26,815		55,438
Depreciation and depletion
Oil and gas		-		-
Timber		611		1,858
General corporate assets		1,751		2,027
Total	$	2,362	$	3,885