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Note 6 - Company Operations
 12 Months Ended
Dec. 31, 2011
Segment Reporting Disclosure [Text Block]
Note 6. 
Company Operations

The Company’s operations are classified into three principal operating segments that are all located in the United States: oil and gas, agricultural and timber.  The Company’s reportable business segments are strategic business units that offer income from different products.  They are managed separately due to the unique aspects of each area.

Following is a summary of segmented operations information for 2011 and 2010:

   
2011
   
2010
 
Revenues
           
Oil and Gas
  $ 1,802,205     $ 1,406,122  
Agricultural
    82,324       98,988  
Timber
    100,385       166,244  
Total
    1,984,914       1,671,354  
Cost and Expenses
               
Oil and Gas
    138,801       105,490  
Agricultural
    12,834       11,708  
Timber
    101,968       80,693  
Total
    253,603       197,891  
Income from Operations
               
Oil and Gas
    1,663,404       1,300,632  
Agricultural
    69,490       87,280  
Timber
    (1,583 )     85,551  
Total
    1,731,311       1,473,463  
Other Income (Expense) before Income Taxes
    (354,599 )     (177,678 )
Income before Income Taxes
    1,376,712       1,295,785  
                 
Identifiable Assets, net of accumulated depreciation and depletion
               
Oil and Gas
    --       --  
Agricultural
    --       --  
Timber
    1,146,743       557,253  
General Corporate Assets
    9,848,226       9,929,799  
Total
    10,994,969       10,487,052  
                 
Capital Expenditures
               
Oil and Gas
    --       --  
Agricultural
    --       --  
Timber
    648,361       264,096  
General Corporate Assets
    1,188,957       350,981  
Total
    1,837,318       615,077  
                 
Depreciation and Depletion
               
Oil and Gas
    --       --  
Agricultural
    4,137       2,879  
Timber
    58,871       57,509  
General Corporate Assets
    3,329       3,553  
Total
  $ 66,337     $ 63,941  

There are no intersegment sales reported in the accompanying income statements.  The accounting policies of the segments are the same as those described in the summary of significant accounting policies.  The Company evaluates performance based on income or loss from operations before income taxes excluding nonrecurring gains and losses on securities held available-for-sale.  Income before income tax represents net revenues less costs and expenses less other income and expenses of a general corporate nature.  Identifiable assets by segment are those assets used solely in the Company's operations within that segment.

Revenue from five customers of the Company’s oil and gas segment represented approximately $301,000, $279,000, $228,000, $117,000, and $110,000 respectively, of the Company’s 2011 total revenue.  In 2010, five oil and gas segment customers represented approximately $122,000, $292,000, $221,000, $122,000 and $115,000 respectively, of the Company’s total revenue.