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Condensed Statements Of Operations - USD ($)
3 Months Ended 9 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Oil, NGL and natural gas sales $ 7,365,898 $ 11,443,590 $ 22,557,372 $ 43,400,839
Lease bonuses and rentals 4,281,095 1,663,402 7,188,152 1,945,743
Gains (losses) on derivative contracts (1,782,903) (1,443,472) (842,726) 11,706,955
Income (loss) from partnerships (1,512) 85,368 8,996 373,555
Total revenues 9,862,578 11,748,888 28,911,794 57,427,092
Costs and expenses:        
Lease operating expenses 3,520,196 4,071,634 10,274,085 13,233,980
Production taxes 196,733 362,548 747,714 1,384,217
Exploration costs 1,157 19,911 30,106 48,368
Depreciation, depletion and amortization 5,959,482 5,729,460 18,963,017 17,680,069
Provision for impairment   132,118 11,849,064 3,532,760
Loss (gain) on asset sales and other 14,554 (18,459) (228,018) (27,586)
Interest expense 331,117 383,047 1,034,027 1,195,056
General and administrative 1,570,134 1,565,575 5,133,657 5,374,206
Bad debt expense (recovery)     19,216  
Total costs and expenses 11,593,373 12,245,834 47,822,868 42,421,070
Income (loss) before provision (benefit) for income taxes (1,730,795) (496,946) (18,911,074) 15,006,022
Provision (benefit) for income taxes (944,000) 232,000 (7,887,000) 4,797,000
Net income (loss) $ (786,795) $ (728,946) $ (11,024,074) $ 10,209,022
Basic and diluted earnings (loss) per common share (Note 3) $ (0.05) $ (0.04) $ (0.65) $ 0.61
Basic and diluted weighted average shares outstanding:        
Common shares 16,582,416 16,514,435 16,575,117 16,504,512
Unissued, directors' deferred compensation shares 263,649 246,893 259,382 256,084
Basic and diluted weighted average shares outstanding 16,846,065 16,761,328 16,834,499 16,760,596
Dividends declared per share of common stock and paid in period $ 0.04 $ 0.04 $ 0.12 $ 0.12