XML 13 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Condensed Balance Sheets - USD ($)
Dec. 31, 2015
Sep. 30, 2015
Current assets:    
Cash and cash equivalents $ 1,503,691 $ 603,915
Oil, NGL and natural gas sales receivables (net of allowance for uncollectable accounts) 5,540,926 7,895,591
Refundable income taxes   345,897
Refundable production taxes 474,839 476,001
Derivative contracts, net 636,114 4,210,764
Other 911,340 252,016
Total current assets 9,066,910 13,784,184
Properties and equipment at cost, based on successful efforts accounting:    
Producing oil and natural gas properties 441,316,100 441,141,337
Non-producing oil and natural gas properties 7,694,635 8,293,997
Other 1,055,935 1,393,559
Gross properties and equipment, at cost, based on successful efforts accounting 450,066,670 450,828,893
Less accumulated depreciation, depletion and amortization (234,432,151) (228,036,803)
Net properties and equipment 215,634,519 222,792,090
Investments 173,423 2,248,999
Total assets 224,874,852 238,825,273
Current liabilities:    
Accounts payable 2,397,076 2,028,746
Deferred income taxes 863,100 1,517,100
Income taxes payable 1,073,551  
Accrued liabilities and other 1,491,077 1,330,901
Total current liabilities 5,824,804 4,876,747
Long-term debt 57,000,000 65,000,000
Deferred income taxes 36,025,907 39,118,907
Asset retirement obligations 2,861,160 2,824,944
Stockholders' equity:    
Class A voting common stock, $.0166 par value; 24,000,000 shares authorized, 16,863,004 issued at December 31, 2015, and September 30, 2015 280,938 280,938
Capital in excess of par value 2,915,219 2,993,119
Deferred directors' compensation 3,170,219 3,084,289
Retained earnings 121,309,373 125,446,473
Stockholders' Equity 127,675,749 131,804,819
Less treasury stock, at cost; 284,593 shares at December 31, 2015, and 302,623 shares at September 30, 2015 (4,512,768) (4,800,144)
Total stockholders' equity 123,162,981 127,004,675
Total liabilities and stockholders' equity $ 224,874,852 $ 238,825,273