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Note 5 - Company Operations (Tables)

12 Months Ended

Dec. 31, 2015

Notes Tables

Schedule of Segment Reporting Information, by Segment [Table Text Block]

		2015				20 14
Revenues
Oil and Gas		$	786,204			$	1, 483,780
Timber			52,028				698,773
Surface			223,869				436,188
Total			1,062,101				2, 618,741
Cost and Expenses
Oil and Gas			70,240				97,702
Timber			8,026				84,183
Surface			4,330				1,325
Total			82,596				183,210
Income from Operations
Oil and Gas			715,964				1, 386,078
Timber			44,002				614,590
Surface			219,539				434,863
Total			979,505				2,435,531
Other Income (Expense) before Income Taxes			(305,699	)			(509,524	)
Income before Income Taxes			673,806				1,926,007
Identifiable Assets, net of accumulated depreciation and depletion
Oil and Gas			--				--
Timber			1,546,088				1,527,425
Surface			--				--
General Corporate Assets			12,610,848				12,299,227
Total			14,156,936				13,826,652
Capital Expenditures
Oil and Gas			--				--
Timber			21,535				286,727
Surface			--				--
General Corporate Assets			265,982				425,956
Total			287,517				712,683
Depreciation and Depletion
Oil and Gas			--				--
Timber			2,872				60,941
Surface			--				--
General Corporate Assets			--				6,241
Total		$	2,872			$	67,182

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]

Count			2015				2014
1				$167,000				680,000
2				115,000				624,000
3				113,000				173,000
4				94,000				173,000
5				82,000				160,000
6				76,000				138,000
7				64,000				--
8				57,000				116,000

X

- Definition

Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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-Publisher FASB
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