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Note 5 - Company Operations
 12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
Note 5.
Company Operations
 
The Company’s operations are classified into three principal operating segments that are all located in the United States: oil and gas, surface 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 2014 and 2013:
 
   
2014
    
2013
  
Revenues
                
Oil and Gas
   $ 1,483,780     $ 1,807,320  
Timber
     698,773       166,637  
Surface
     436,188       139,871  
Total
     2,618,741       2,113,828  
Cost and Expenses
                
Oil and Gas
     97,702       114,204  
Timber
     84,183       119,368  
Surface
     1,325       1,649  
Total
     183,210       235,221  
Income from Operations
                
Oil and Gas
     1,386,078       1,693,116  
Timber
     614,590       47,269  
Surface
     434,863       138,222  
Total
     2,435,531       1,878,607  
Other Income (Expense) before Income Taxes
     (509,524 )     (492,992 )
Income before Income Taxes
     1,926,007       1,385,615  
                 
Identifiable Assets, net of accumulated depreciation and depletion
                
Oil and Gas
     --       --  
Timber
     1,527,425       1,301,639  
Surface
     --       --  
General Corporate Assets
     12,299,227       11,744,967  
Total
     13,826,652       13,046,606  
 
 
 
23
 
 
 
Note 5.
Company Operations (continued)
 
Capital Expenditures
                
Oil and Gas
     --       --  
Timber
     286,727       161,004  
Surface
     --       --  
General Corporate Assets
     425,956       97,098  
Total
     712,683       258,102  
                 
Depreciation and Depletion
                
Oil and Gas
     --       --  
Timber
     60,941       95,155  
Surface
     --       --  
General Corporate Assets
     6,241       6,686  
Total
   $ 67,182     $ 101,841  
 
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 customers representing 5% or more of total revenue was:
 
Count
    
2014
    
2013
  
1     $ 680,000     $ 759,000  
2       624,000       236,000  
3       173,000       177,000  
4       173,000       153,000  
5       160,000       129,000  
6     $ 138,000     $