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Note 3 - Oil and Gas Leases
 12 Months Ended
Dec. 31, 2012
Operating Leases of Lessor Disclosure [Text Block]
Note 3.       Oil and Gas Leases

Results of oil and gas leasing activities for the year ending December 31, 2012 and 2011 are as follows:

   
2012
   
2011
 
Gross revenues
           
Royalty interests
  $ 2,558,605     $ 1,537,876  
Working interests
    --       129  
Seismic and Lease Fees
    259,001       264,200  
      2,817,606       1,802,205  
Production costs
    219,224       138,801  
Results before income tax expense
    2,598,382       1,663,404  
Estimated income tax expense (40%)
    1,039,353       665,362  
Results of operations from producing activities excluding corporate overhead
  $ 1,559,029     $ 998,042  

There were no major costs, with the exception of severance taxes, incurred in connection the Company's oil and gas leasing activities, which are located entirely within the United States, during the years ended December 31, 2012 and 2011.

Reserve quantities (unaudited):

Reserve information relating to estimated quantities of the Company's interest in proved reserves of natural gas and crude including condensate and natural gas liquids is not available.  Such reserves are located entirely within the United States.  A schedule indicating such reserve quantities is, therefore, not presented.  All oil and gas royalties come from Company owned properties that were developed and produced by producers under lease agreements.

Company’s royalty and working interests share of oil and gas, exclusive of plant products, produced from leased properties:

   
2012
   
2011
 
             
Net gas produced (MCF)
    92,470       70,105  
Net oil produced (Bbl)
    19,543       9,801