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Statements of Operations (amounts in thousands, except per share data) (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
Revenue |  |  |
Oil and gas operations, net of royalties | $ 1,477 | $ 1,182 | $ 1,020
Real estate operations | 2,745 | 2,762 | 2,881
Total Revenue | 4,222 | 3,944 | 3,901
Operating expenses |  |  |
Oil and gas operations | 1,867 | 1,820 | 1,430
Real estate operations. | 1,555 | 1,465 | 1,290
Lease expense | 942 | 924 | 906
Corporate general and administrative | 500 | 577 | 579
Accretion of asset retirement obligation | 0 | 68 | 129
Impariment of natural gas and oil properties | 200 | 912 | 1,428
Total Operating expenses | 5,064 | 5,766 | 5,762
Operating earnings (loss) | (842) | (1,822) | (1,861)
Other income (expense) |  |  |
Interest income | 9 | 0 | 360
Interest expense | (114) | (208) | (131)
Bad debt expense (recovery) - note receivable | 1,562 | 2,076 | (10,006)
Other income (expense), net | (189) | 122 | (155)
Total Other income (Expense). | 1,268 | 1,990 | (9,932)
Earnings from continuing operations | 426 | 168 | (11,793)
Net income (loss) applicable to common shares | $ 426 | $ 168 | $ (11,793)
Net income (loss) per common share-basic and diluted | $ 0.22 | $ 0.09 | $ (6.06)
Weighted average common and equivalent shares outstanding - basic | 1,947 | 1,947 | 1,947

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- Definition Exploration expenses (including prospecting) related to oil and gas producing entities and would be included in operating expenses of that entity. Costs incurred in identifying areas that may warrant examination and in examining specific areas that are considered to have prospects of containing oil and gas reserves, including costs of drilling exploratory wells and exploratory-type stratigraphic test wells. Exploration costs may be incurred both before acquiring the related property (sometimes referred to in part as prospecting costs) and after acquiring the property. Principal types of exploration costs, which include depreciation and applicable operating costs of support equipment and facilities and other costs of exploration activities, are: (i) Costs of topographical, geographical and geophysical studies, rights of access to properties to conduct those studies, and salaries and other expenses of geologists, geophysical crews, and others conducting those studies. Collectively, these are sometimes referred to as geological and geophysical or "G&G" costs. (ii) Costs of carrying and retaining undeveloped properties, such as delay rentals, ad valorem taxes on properties, legal costs for title defense, and the maintenance of land and lease records. (iii) Dry hole contributions and bottom hole contributions. (iv) Costs of drilling and equipping exploratory wells. (v) Costs of drilling exploratory-type stratigraphic test wells. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 360 -Section 25 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6474861&loc=d3e64954-109465 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 932 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-10.(a)(15)) -URI http://asc.fasb.org/extlink&oid=27015464&loc=d3e511914-122862 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph a -Subparagraph 15 -Article 4 + Details
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