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Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Oil and gas revenues $ 2,487,000 $ 1,064,000 $ 4,159,000 $ 1,958,000
Revenues from lease operations 48,000 59,000 92,000 116,000
Gas gathering, compression, equipment rental 31,000 5,000 49,000 39,000
Real estate rental revenue 62,000 55,000 115,000 114,000
Interest Income 36,000 35,000 61,000 81,000
Other revenues 11,000 9,000 23,000 18,000
Total Revenues 2,675,000 1,227,000 4,499,000 2,326,000
Expenses        
Lease operating expenses 500,000 399,000 744,000 522,000
Production taxes, gathering and marketing expenses 284,000 206,000 465,000 335,000
Pipeline and rental expenses 11,000 6,000 13,000 9,000
Real estate expenses 40,000 33,000 78,000 65,000
Depreciation and amortization expenses 36,000 96,000 53,000 215,000
ARO accretion expense 35,000 143,000 70,000
General and administrative expenses 459,000 455,000 1,049,000 992,000
Total Expenses 1,330,000 1,230,000 2,545,000 2,208,000
Income Before Income Tax 1,345,000 (3,000) 1,954,000 118,000
Current income tax provision 176,000 5,000 236,000 22,000
Deferred income tax provision 77,000 (2,000) 117,000 5,000
Total income tax provision 253,000 3,000 353,000 27,000
Net Income $ 1,092,000 $ (6,000) $ 1,601,000 $ 91,000
Earnings per Share of Common Stock Basic and Diluted $ 0.16 $ 0.24 $ 0.01
Weighted Average Shares Outstanding Basic and Diluted 6,755,318 6,755,318 6,755,318 6,755,318