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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Total revenue $ 160,842 $ 228,337 $ 529,930 $ 598,620
Costs, expenses and (gains):        
General and administrative expense 121,426 143,198 457,637 471,668
Depreciation expense 1,326 507 1,793 1,517
Gain on sale of land (41,331) (295,238) (80,876)
Total costs, expenses and (gains) 87,511 173,774 196,552 456,323
Income from operations 73,331 54,563 333,378 142,297
Interest income 6,914 28,512 55,170 84,524
Income before income taxes 80,245 83,075 388,548 226,821
Federal and state income tax expense:        
Current 30,191 25,105 68,322 39,859
Deferred
Total income taxes 30,191 25,105 68,322 39,859
Net income $ 50,054 $ 57,970 $ 320,226 $ 186,962
Earnings per share, basic and diluted (in dollars per share) $ 0.03 $ 0.03 $ 0.16 $ 0.10
Weighted average shares outstanding, basic and diluted (in shares) 1,942,495 1,942,495 1,942,495 1,942,495
Oil and Gas [Member]        
Revenues:        
Revenues from customers $ 50,811 $ 174,097 $ 233,789 $ 408,029
Costs, expenses and (gains):        
Cost of goods and services sold 5,226 20,196 28,034 48,364
Timber [Member]        
Revenues:        
Revenues from customers 59,416 16,717 71,052 31,198
Costs, expenses and (gains):        
Cost of goods and services sold 666 9,292 3,870 14,376
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 41,032 27,940 196,340 130,644
Surface Leases, Related Parties [Member]        
Revenues:        
Revenues, leases 9,583 9,583 28,749 28,749
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold $ 198 $ 581 $ 456 $ 1,274