XML 13 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Revenues:    
Oil and gas $ 609,122 $ 510,856
Timber 224,111 125,860
Surface 273,019 189,019
Surface - related party 38,333 37,667
Total revenues 1,144,585 863,402
Costs, Expenses and (Gains):    
Oil and gas 62,315 57,115
Timber 35,692 27,957
Surface 43,929 82,081
General and administrative 495,040 508,422
Depreciation 1,191 467
Gain on sale of land (34,711)
Total cost, expenses and (gains) 603,456 676,042
Income from operations 541,129 187,360
Other Income:    
Interest income 44,958 34,951
Other income 44,958 34,951
Income before income taxes 586,087 222,311
Federal and State Income Taxes:    
Current 174,479 45,485
Deferred (111,255) 6,152
Total federal and state income taxes 63,224 51,637
Net income $ 522,863 $ 170,674
Per Common stock, basic and diluted    
Net income (in dollars per share) $ 0.27 $ 0.09
Dividends (in dollars per share) $ 0.10
Weighted Average Common Shares Outstanding, basic and diluted (in shares) 1,942,495 1,942,495