XML 22 R7.htm IDEA: XBRL DOCUMENT
v3.7.0.1

BUSINESS DESCRIPTION AND PRESENTATION | 12 Months Ended
--- | ---
Dec. 31, 2016
BUSINESS DESCRIPTION AND PRESENTATION |
BUSINESS DESCRIPTION AND PRESENTATION | NOTE A – BUSINESS DESCRIPTION AND PRESENTATION The Company, through its wholly owned subsidiaries Mountaineer State Energy, Inc. and Mountaineer State Operations, LLC, operates oil and gas wells and mineral leases in Athens and Meigs Counties in Ohio and in Calhoun, Jackson and Roane Counties in West Virginia. As of December 31, 2016 the Company has 153 producing oil & gas wells, 31 non-producing wells and related equipment and mineral leases covering approximately 20,000 acres. The Company engaged the firm of independent oil and gas engineers Lee Keeling & Associates, Inc. to estimate the net oil and gas reserves. On the basis of their study, the estimates of future net revenues using a present value discount of 10% were estimated to be $6.3 million at December 31, 2016. NCE also leases and operates a retirement community in King City Oregon, with a capacity of 114 residents. Our lease provides that should the property be sold the lease maintained by the Company would be terminated. The Company has been notified that the building is under contract to be sold effective March 30, 2017 and our lease will be terminated on that date. These financial statements reflect the operations of the retirement community as a discontinued operation. In February 2014 the Company acquired 7.4 acres of undeveloped land in Desoto TX. For $624,000. The Company acquired the property for investment purposes. This investment has been included in other assets on the balance sheet. In December 2016 the Company sold the land for $700,000 and recorded a gain of $50,000.

X
- References No definition available. + Details
Name: | fil_BasisOfPresentationAbstract
Namespace Prefix: | fil_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). + References No definition available. + Details
Name: | us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration