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Note 3 - Company Operations (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

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

		2017				2016
Revenues:
Oil and Gas		$	333,362			$	208,199
Timber			8,966				120,868
Surface			253,448				98,889
Total			595,776				427,956
Cost and Expenses:
Oil and Gas			33,049				25,254
Timber			6,107				18,662
Surface			24,848				38,525
Total			64,004				82,441
Income from Operations:
Oil and Gas			300,313				182,945
Timber			2,859				102,206
Surface			228,600				60,364
Total			531,772				345,515

Other Expense before Income Taxes:		$	(227,234	)		$	(213,015	)
Income before Income Taxes			304,538				132,500
Identifiable Assets, net of accumulated depreciation:
Oil and Gas			--				--
Timber			2,083,408				1,598,058
Surface			--				--
General Corporate Assets			12,410,044				12,765,073
Total			14,493,452				14,363,131
Capital Expenditures:
Oil and Gas			--				--
Timber			11,040				53,721
Surface			--				--
General Corporate Assets:			--				272,533
Total			11,040				326,254
Depreciation and Depletion:
Oil and Gas			--				--
Timber			--				1,751
Surface			--				--
General Corporate Assets			467				--
Total		$	467			$	1,751

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

Count			2017				2016
1			$	179,292			$	112,835
2				80,210				97,135
3				54,154				63,449
4				42,513				52,063
5				38,333				51,020
6				--				47,666

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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- Definition

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

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-Name Accounting Standards Codification
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