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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenue $ 228,337 $ 257,696 $ 598,620 $ 998,423
Costs, expenses and (gains):        
General and administrative expense 143,198 136,366 471,668 402,674
Depreciation expense 507 1,050 1,517 1,517
Gain on sale of land (80,876) (881,654)
Total costs, expenses and (gains) 173,774 181,780 456,323 (353,274)
Income from operations 54,563 75,916 142,297 1,351,697
Interest income 28,512 26,301 84,524 52,176
Income before income taxes 83,075 102,217 226,821 1,403,873
Federal and state income tax expense:        
Current 25,105 16,817 39,859 329,409
Deferred
Total income taxes 25,105 16,817 39,859 329,409
Net income 57,970 85,400 186,962 1,074,464
Dividends paid (233,099)
Net income available to common shareholders 57,970 85,400 186,962 841,366
Oil and Gas [Member]        
Revenues:        
Revenues from customers 174,097 178,640 408,029 464,895
Costs, expenses and (gains):        
Cost of goods and services sold 20,196 18,435 48,364 48,378
Timber [Member]        
Revenues:        
Revenues from customers 16,717 56,929 31,198 411,936
Costs, expenses and (gains):        
Cost of goods and services sold 9,292 15,212 14,376 50,591
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 27,940 22,127 130,644 109,133
Surface Leases, Related Parties [Member]        
Revenues:        
Revenues, leases 9,583 28,749 12,459
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold $ 581 $ 10,717 $ 1,274 $ 25,220