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Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Oil and gas revenues $ 348,000 $ 1,210,000 $ 1,092,000 $ 2,375,000
Revenue from lease operations 44,000 132,000 119,000 187,000
Gas gathering, compression, equipment rental 18,000 33,000 45,000 66,000
Real estate rental income 70,000 59,000 134,000 119,000
Interest Income 59,000 42,000 103,000 113,000
Other revenues 9,000 11,000 19,000 22,000
Total Revenues 548,000 1,487,000 1,512,000 2,882,000
Expenses        
Lease operations 170,000 493,000 462,000 821,000
Production taxes, gathering and marketing 122,000 194,000 256,000 388,000
Pipeline and rental operations 1,000 16,000 4,000 19,000
Real estate operations 29,000 33,000 67,000 72,000
Depreciation and amortization 34,000 148,000 135,000 270,000
ARO accretion expense 30,000 47,000 60,000 94,000
General and administrative 669,000 783,000 1,391,000 1,491,000
Total Expenses 1,055,000 1,714,000 2,375,000 3,155,000
(Loss) Before Income Tax (507,000) (227,000) (863,000) (273,000)
Current income tax provision (benefit) (113,000) (24,000) (174,000) (20,000)
Deferred income tax provision (benefit) 28,000 (80,000) 5,000 (151,000)
Total income tax (benefit) (85,000) (104,000) (169,000) (171,000)
Net(Loss) $ (422,000) $ (123,000) $ (694,000) $ (102,000)
Earnings (Loss) per Share of Common Stock: Basic and Diluted $ (0.06) $ (0.02) $ (0.10) $ (0.01)
Weighted Average Shares Outstanding: Basic and Diluted 6,764,487 6,809,602 6,787,044 6,809,602