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Condensed Balance Sheets - USD ($)
Jun. 30, 2016
Sep. 30, 2015
Current assets:    
Cash and cash equivalents $ 506,541 $ 603,915
Oil, NGL and natural gas sales receivables (net of allowance for uncollectable accounts) 4,404,084 7,895,591
Deferred income taxes 529,900  
Refundable income taxes   345,897
Assets held for sale 1,456,851  
Refundable production taxes   476,001
Derivative contracts, net [1]   4,210,764
Other 182,779 252,016
Total current assets 7,080,155 13,784,184
Properties and equipment at cost, based on successful efforts accounting:    
Producing oil and natural gas properties 433,025,959 441,141,337
Non-producing oil and natural gas properties 7,593,698 8,293,997
Other 1,069,658 1,393,559
Gross properties and equipment, at cost, based on successful efforts accounting 441,689,315 450,828,893
Less accumulated depreciation, depletion and amortization (246,216,837) (228,036,803)
Net properties and equipment 195,472,478 222,792,090
Investments 163,918 2,248,999
Total assets 202,716,551 238,825,273
Current liabilities:    
Accounts payable 1,499,739 2,028,746
Derivative contracts, net [1] 1,690,516  
Deferred income taxes   1,517,100
Income taxes payable 659,319  
Accrued liabilities and other 1,212,155 1,330,901
Total current liabilities 5,061,729 4,876,747
Long-term debt 49,200,000 65,000,000
Deferred income taxes 30,821,907 39,118,907
Asset retirement obligations 2,928,176 2,824,944
Stockholders' equity:    
Class A voting common stock, $.0166 par value; 24,000,000 shares authorized, 16,863,004 issued at June 30, 2016, and September 30, 2015 280,938 280,938
Capital in excess of par value 3,085,815 2,993,119
Deferred directors' compensation 3,321,583 3,084,289
Retained earnings 112,414,741 125,446,473
Stockholders' Equity 119,103,077 131,804,819
Less treasury stock, at cost; 277,378 shares at June 30, 2016, and 302,623 shares at September 30, 2015 (4,398,338) (4,800,144)
Total stockholders' equity 114,704,739 127,004,675
Total liabilities and stockholders' equity $ 202,716,551 $ 238,825,273
[1] See Fair Value Measurements section for further disclosures regarding fair value of financial instruments.