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Note 3 - Company Operations
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
Note 3.
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 the quarter ended March 31, 2016 and 2015, respectively:
 
   
2016
    
20
15
  
Revenues
                
Oil and Gas
   $ 91,721     $ 230,222  
Timber
     112,835       --  
Surface
     83,752       22,719  
Total
     288,308       252,941  
Cost and Expenses
                
Oil and Gas
     10,733       16,136  
Timber
     5,793       336  
Surface
     1,397       575  
Total
     17,923       17,047  
Income from Operations
                
Oil and Gas
     80,988       214,086  
Timber
     107,042       (336 )
Surface
     82,355       22,144  
Total
     270,385       235,894  
Other Income (Expense) before Income Taxes
     (123,206 )     (114,997 )
Income before Income Taxes
     147,179       120,897  
 
Identifiable Assets, net of accumulated depreciation and depletion
                
Oil and Gas
     --       --  
Timber
     1,563,858       1,545,154  
Surface
     --       --  
General Corporate Assets
     12,829,478       12,417,460  
Total
     14,393,336       13,962,614  
                 
Capital Expenditures
                
Oil and Gas
     --       --  
Timber
     19,521       17,729  
Surface
     --       --  
General Corporate Assets
     59,639       --  
Total
     79,160       17,729  
                 
Depreciation and Depletion
                
Oil and Gas
     --       --  
Timber
     1,751       --  
Surface
     --       --  
General Corporate Assets
     --       --  
Total
   $ 1,751     $ --  
 
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 in the Company’s Form 10-K for the year ended December 31, 2015. The Company evaluates performance based on income or loss from operations before income taxes excluding any 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 for the quarter ended March 31, 2016 and 2015, respectively are:
 
Count
    
2016
    
2015
  
1     $ 112,800     $ 59,900  
2       63,400       43,800  
3       25,900       40,000  
4       20,000       23,300  
5       16,600       21,400  
6       15,600       17,300  
7       --       15,800