Note 4 - Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

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

	Six Months Ended June 30,		Year Ended December 31,
	2024		2023
Identifiable Assets, net of accumulated depreciation
Timber	$	2,250,596	$	2,250,616
General corporate assets		16,699,854		16,562,790
Total		18,950,450		18,813,406
Capital expenditures:
Timber	$	-	$	20,737
Surface		-		-
General corporate assets		-		-
Total segment costs and expenses	$	-	$	20,737
Depreciation and depletion
Oil and gas	$	-	$	-
Timber		21		685
General corporate assets		2,130		4,261
Total	$	2,151	$	4,946

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Revenues:
Oil and gas	$	161,148		$	101,361		$	243,648		$	150,556
Timber sales		-			10,782			2,275			12,683
Surface revenue		866,286			258,237			923,360			372,903
Total segment revenues		1,027,434			370,380			1,169,283			536,142
Cost and expenses:
Oil and gas costs		12,867			10,291		$	23,233		$	19,229
Timber costs		4,838			2,706			8,821			3,963
Surface costs		-			225			-			225
Total segment costs and expenses		17,705			13,222			32,054			23,417
Net income (loss) from operations:
Oil and gas		148,281			91,070		$	220,415		$	131,327
Timber		(4,838	)		8,076			(6,546	)		8,720
Surface		866,286			258,012			923,360			372,678
Total segment net income from operations		1,009,729			357,158			1,137,229			512,725
Unallocated other expense before income taxes		(298,973	)		(219,521	)		(812,861	)		(691,938	)
Income (loss) before income taxes	$	710,756		$	137,637		$	324,368		$	(179,213	)