CKX LANDS, INC. — Interim / Quarterly Report 2002

May 13, 2002

SECURITIES AND EXCHANGE COMMISSION Washington. D.C. 20549 FORM 10-Q Quarterly report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For Quarter Ended March 31, 2002 Commission file number 0-9669 CALCASIEU REAL ESTATE & OIL CO., INC. (Exact name of registrant as specified in its charter) Louisiana 72-0144530 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) One Lakeside Plaza Lake Charles, LA 70601 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (337) 494-4256 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Securities registered pursuant to Section 12(b) for the Act: Name of each exchange Title of each class on which registered ------------------- --------------------- None Not applicable Securities registered pursuant to Section 12(g) of the Act: Common Stock, No Par Value (Title of Class) ------------------------------- As of March 31, 2002, 1,955,044 shares of the registrant's Common Stock, without par value, were issued and outstanding. 1 CALCASIEU REAL ESTATE & OIL CO., INC. Form 10-Q for the Quarter ended March 31, 2002 TABLE OF CONTENTS

Reference is made to the Notes to Financial Statements contained in the Company's Annual Report on Form 10 --------------------------------------------------------------------- The information furnished is not in connection with any sale or offer for sale of, or solicitation of an offer to buy, any securities. 2 CALCASIEU REAL ESTATE & OIL CO., INC. PART I Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Total revenues for the Company for the quarter ended March 31, 2002, were down 52% or $245,944 from the first quarter of 2001. This was due to a decrease in oil and gas production from the North English Bayou Field as well as lower oil and gas prices. The North English Bayou Field is almost totally depleted. Total expenses for the first quarter of 2002 were virtually the same as the first quarter of 2001. Forestry expenses and agriculture expense were up slightly on higher income from timber sales and farm operations. General and administrative expenses were higher due to increased audit expense and franchise tax. Oil and gas expenses were down due to lower severance taxes on lower production. Net income was down $176,830 or 66.3%. During the quarter, the Company purchased $700,000 face value of U. S. Treasury Bills, $100,000 of National Rural Utility bonds, and $100,000 of convertible preferred stock. Management believes that the company's revenues will be sufficient to meet its existing needs and the needs for its anticipated future operations. Long-term trends will depend upon the ability of management to continue to find new production to replace the depletion of the company's present minerals as well as increasing the Company's income from timber and agriculture. All adjustments necessary for fair presentation are included in the enclosed financial statements. 3 CALCASIEU REAL ESTATE & OIL CO., INC. BALANCE SHEET ASSETS

4 CALCASIEU REAL ESTATE & OIL CO., INC. BALANCE SHEET LIABILITIES & STOCKHOLDERS' EQUITY

5 CALCASIEU REAL ESTATE & OIL CO., INC. STATEMENTS OF INCOME AND RETAINED EARNINGS

6 CALCASIEU REAL ESTATE & OIL CO., INC. STATEMENTS OF CASH FLOWS

7 CALCASIEU REAL ESTATE & OIL CO., INC. PART II OTHER INFORMATION Item 4. Submission of Matters to a Vote of Security Holders. (a) The Annual Meeting was held on April 25, 2002 (b) The following were elected Directors: Henry C. Alexander William D. Blake Troy A. Freund Arthur Hollins, III Laura A. Leach Frank O. Pruitt B. James Reaves, III Mary W. Savoy Charles D. Viccellio No other director's term of office continued after the meeting. (c) There were 1,529,374 shares represented at the meeting of whom 1,518,140 voted in favor of both propositions. The Company furnished its security holders proxy soliciting material pursuant to Regulation 14 under the Act and there was no solicitation in opposition to either the nominees for directors nor any other matters. 8 CALCASIEU REAL ESTATE & OIL CO., INC. PART II OTHER INFORMATION Item 6. EXHIBITS AND REPORTS ON FORM 8-K (A) Exhibits None (B) Reports on Form 8-K None SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the under-signed thereunto duly authorized. CALCASIEU REAL ESTATE & OIL CO., INC. (Registrant) /s/ ARTHUR HOLLINS, III ------------------------------------------ Arthur Hollins, III President /s/ CHARLES D. VICCELLIO ------------------------------------------ Charles D. Viccellio Vice-President and Secretary Dated May 6, 2002 9