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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenue $ 310,214 $ 211,306 $ 492,130 $ 366,182
Costs, expenses and (gains):        
General and administrative expense 597,295 148,316 769,643 251,399
Depreciation expense 683 503 1,190 1,010
Gain on sale of land (0) 184,045 (0) 590,265
Total costs, expenses and (gains) 615,543 (21,526) 799,497 (314,977)
Income (loss) from operations (305,329) 232,832 (307,367) 681,159
Interest income 3,849 4,787 6,455 9,453
Miscellaneous income 259 0 3,282 0
Income (loss) before income taxes (301,221) 237,619 (297,630) 690,612
Federal and state income tax expense:        
Current (24,530) 63,271 (25,679) 89,457
Total income taxes (24,530) 63,271 (25,679) 89,457
Net income (loss) $ (276,691) $ 174,348 $ (271,951) $ 601,155
Basic and diluted earnings per share (in dollars per share) $ (0.14) $ 0.09 $ (0.14) $ 0.31
Weighted average shares outstanding, basic and diluted (in shares) 1,945,555 1,942,495 1,945,555 1,942,495
Oil and Gas [Member]        
Revenues:        
Revenue $ 141,714 $ 99,202 $ 224,142 $ 149,347
Costs, expenses and (gains):        
Cost of goods and services sold 14,615 9,445 20,350 17,666
Timber [Member]        
Revenues:        
Revenue 88,637 49,414 110,379 102,941
Costs, expenses and (gains):        
Cost of goods and services sold 2,950 4,255 3,185 5,213
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 70,280 53,107 138,442 94,728
Surface Leases, Related Parties [Member]        
Revenues:        
Revenues, leases 9,583 9,583 19,167 19,166
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold $ 0 $ 0 $ 5,129 $ 0