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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Total revenue $ 173,546 $ 160,842 $ 539,729 $ 529,930
Costs, expenses and (gains):        
General and administrative expense 141,136 121,426 392,538 457,637
Depreciation expense 507 1,326 1,517 1,793
Gain on sale of land (261,316) (41,331) (851,582) (295,238)
Total costs, expenses and (gains) (104,154) 87,511 (419,129) 196,552
Income from operations 277,700 73,331 958,858 333,378
Interest income 3,622 6,914 13,075 55,170
Income before income taxes 281,322 80,245 971,933 388,548
Federal and state income tax expense:        
Current 92,813 30,191 182,269 68,322
Total income taxes 92,813 30,191 182,269 68,322
Net income $ 188,509 $ 50,054 $ 789,664 $ 320,226
Earnings per share, basic and diluted (in dollars per share) $ 0.10 $ 0.03 $ 0.41 $ 0.16
Weighted average shares outstanding, basic and diluted (in shares) 1,942,495 1,942,495 1,942,495 1,942,495
Oil and Gas [Member]        
Revenues:        
Oil and gas $ 108,208 $ 50,811 $ 257,555 $ 233,789
Costs, expenses and (gains):        
Cost of goods and services sold 12,264 5,226 29,930 28,034
Timber [Member]        
Revenues:        
Oil and gas 11,936 59,416 114,877 71,052
Costs, expenses and (gains):        
Cost of goods and services sold 3,255 666 8,468 3,870
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 43,819 41,032 138,548 196,340
Surface Leases, Related Parties [Member]        
Revenues:        
Revenues, leases $ 9,583 9,583 $ 28,749 28,749
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold   $ 198   $ 456