XML 15 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Statements Of Operations - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mar. 31, 2016
Mar. 31, 2015
Revenues:        
Oil, NGL and natural gas sales $ 6,136,186 $ 12,437,549 $ 15,191,474 $ 31,957,249
Lease bonuses and rentals 481,553 253,050 2,907,057 282,341
Gains (losses) on derivative contracts 975,113 1,900,162 940,177 13,150,427
Income (loss) from partnerships (5,761) 88,273 10,508 288,187
Total revenues 7,587,091 14,679,034 19,049,216 45,678,204
Costs and expenses:        
Lease operating expenses 3,187,353 4,376,996 6,753,889 9,162,346
Production taxes 229,140 399,157 550,981 1,021,669
Exploration costs 1,159 3,105 28,949 28,457
Depreciation, depletion and amortization 6,045,883 5,811,590 13,003,535 11,950,609
Provision for impairment 8,115,791 1,208,645 11,849,064 3,400,642
Loss (gain) on asset sales and other 27,134 (7,145) (242,572) (9,127)
Interest expense 342,348 409,276 702,910 812,009
General and administrative 1,651,444 1,850,203 3,563,523 3,808,631
Bad debt expense (recovery)     19,216  
Total costs and expenses 19,600,252 14,051,827 36,229,495 30,175,236
Income (loss) before provision (benefit) for income taxes (12,013,161) 627,207 (17,180,279) 15,502,968
Provision (benefit) for income taxes (4,575,000) (77,000) (6,943,000) 4,565,000
Net income (loss) $ (7,438,161) $ 704,207 $ (10,237,279) $ 10,937,968
Basic and diluted earnings (loss) per common share (Note 3) $ (0.44) $ 0.04 $ (0.61) $ 0.65
Basic and diluted weighted average shares outstanding:        
Common shares 16,579,116 16,514,435 16,571,488 16,504,512
Unissued, directors' deferred compensation shares 259,381 266,066 258,206 265,503
Basic and diluted weighted average shares outstanding 16,838,497 16,780,501 16,829,694 16,770,015
Dividends declared per share of common stock and paid in period $ 0.04 $ 0.04 $ 0.08 $ 0.08