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Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenue $ 1,027,434 $ 370,380 $ 1,169,283 $ 536,142
Costs, expenses and (gains):        
General and administrative expense 503,118 253,991 1,066,159 901,294
Depreciation expense 1,065 1,065 2,130 2,130
Gain on sale of land (140,582)   (140,582) (149,992)
Total costs, expenses and (gains) 381,306 268,278 959,761 776,849
Income (loss) from operations 646,128 102,102 209,522 (240,707)
Interest income 50,881 35,535 101,099 61,493
Miscellaneous income 13,747 0 13,747 0
Income (loss) before income taxes 710,756 137,637 324,368 (179,214)
Federal and state income tax expense (benefit):        
Current 0 0 0 0
Deferred 145,478 34,409 160,419 (44,803)
Total income taxes 145,478 34,409 160,419 (44,803)
Net income (loss) $ 565,278 $ 103,228 $ 163,949 $ (134,411)
Net income (loss) per share:        
Basic and diluted (in dollars per share) $ 0.28 $ 0.05 $ 0.08 $ (0.07)
Diluted (in dollars per share) $ 0.27 $ 0.05 $ 0.08 $ (0.07)
us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract        
Basic (in shares) 2,027,032 1,974,427 2,009,185 1,974,427
Diluted (in shares) 2,063,191 2,036,560 2,045,539 1,974,427
Oil and Gas [Member]        
Revenues:        
Revenue $ 161,148 $ 101,361 $ 243,648 $ 150,556
Costs, expenses and (gains):        
Cost of goods and services sold 12,867 10,291 23,233 19,229
Timber [Member]        
Revenues:        
Revenue 0 10,782 2,275 12,683
Costs, expenses and (gains):        
Cost of goods and services sold 4,838 2,706 8,821 3,963
Surface Leases, Unrelated Parties [Member]        
Revenues:        
Revenues, leases 866,286 258,237 923,360 372,903
Surface Leases [Member]        
Costs, expenses and (gains):        
Cost of goods and services sold $ 0 $ 225 $ 0 $ 225