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Note 2 - Oil and Gas Leases (Details) - Oil and Gas Leasing Activities (USD $) | 12 Months Ended
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Dec. 31, 2013 | Dec. 31, 2012
Gross revenues |  |
Royalty interests | $ 1,716,192 | $ 2,558,605
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

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- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1(e)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 + Details
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