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Note 2 - Oil and Gas Leases | 12 Months Ended
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Dec. 31, 2013
Leases, Operating [Abstract] |
Operating Leases of Lessor Disclosure [Text Block] | Note 2. Oil and Gas Leases Results of oil and gas leasing activities for the year ending December 31, 2013 and 2012 are as follows:
|  | 2013 |  |  | 2012 |
Gross revenues |  |  |  |  |  |  |  |
Royalty interests |  | $ | 1,716,192 |  |  | $ | 2,558,605 |
Working interests |  |  | -- |  |  |  | -- |
Seismic and Lease Fees |  |  | 91,128 |  |  |  | 259,001 |
|  |  | 1,807,320 |  |  |  | 2,817,606 |
Production costs |  |  | 114,204 |  |  |  | 219,224 |
Results before income tax expense |  |  | 1,693,116 |  |  |  | 2,598,382 |
Estimated income tax expense (40%) |  |  | 677,246 |  |  |  | 1,039,353 |
Results of operations from producing activities excluding corporate overhead |  | $ | 1,015,870 |  |  | $ | 1,559,029 |
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, 2013 and 2012. 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. Note 2. Oil and Gas Leases (continued) Company’s royalty and working interests share of oil and gas, exclusive of plant products, produced from leased properties:
|  | 2013 |  |  | 2012 |
Net gas produced (MCF) |  |  | 42,115 |  |  |  | 92,470 |
Net oil produced (Bbl) |  |  | 12,765 |  |  |  | 19,543 |

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- Definition The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37045-112695 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 235 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=8451039&loc=d3e61901-109447 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41460-112716 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453916&loc=d3e41457-112716 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6452767&loc=d3e37051-112695 + Details
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