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Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Oil and gas revenues $ 1,126,000 $ 1,268,000 $ 3,501,000 $ 4,538,000
Revenue from lease operations 62,000 69,000 249,000 199,000
Gas gathering, compression, equipment rental 28,000 39,000 94,000 100,000
Real estate rental revenue 60,000 57,000 179,000 173,000
Interest Income 37,000 36,000 150,000 124,000
Other revenues 27,000 10,000 49,000 39,000
Total Revenues 1,340,000 1,479,000 4,222,000 5,173,000
Expenses        
Lease operating expenses 418,000 368,000 1,239,000 1,106,000
Production taxes, gathering and marketing expenses 204,000 120,000 592,000 616,000
Pipeline and rental expenses 6,000 6,000 25,000 43,000
Real estate expenses 32,000 41,000 104,000 114,000
Depreciation and amortization expenses 137,000 141,000 407,000 433,000
ARO accretion expense 48,000 9,000 142,000 27,000
General and administrative expenses 721,000 619,000 2,212,000 1,920,000
Total Expenses 1,566,000 1,304,000 4,721,000 4,259,000
Income (Loss) before Income tax (226,000) 175,000 (499,000) 914,000
Current income tax provision (benefit) 58,000 98,000 38,000 181,000
Deferred income tax benefit (98,000) 172,000 (249,000) (179,000)
Total income tax benefit (40,000) 270,000 (211,000) 2,000
Net Income $ (186,000) $ (95,000) $ (288,000) $ 912,000
Earnings per Share of Common Stock: Basic and Diluted $ (0.03) $ (0.01) $ (0.04) $ 0.13
Weighted Average Shares Outstanding: Basic and Diluted 6,809,602 6,936,269 6,809,602 6,936,269