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Balance Sheets - USD ($)
Sep. 30, 2022
Sep. 30, 2021
Current Assets:    
Cash and cash equivalents $ 3,396,809 $ 2,438,511
Natural gas, oil and NGL sales receivables (net of $0 allowance for uncollectable accounts) 13,152,274 6,428,982
Refundable income taxes   2,413,942
Other 1,372,847 942,082
Total current assets 17,921,930 12,223,517
Properties and equipment at cost, based on successful efforts accounting:    
Producing natural gas and oil properties 248,978,928 319,984,874
Non-producing natural gas and oil properties 51,779,336 40,466,098
Other 1,085,056 794,179
Gross properties and equipment, at cost, based on successful efforts accounting 301,843,320 361,245,151
Less accumulated depreciation, depletion and amortization (168,759,385) (257,643,661)
Net properties and equipment 133,083,935 103,601,490
Operating lease right-of-use assets 739,131 607,414
Other, net 757,116 578,593
Total assets 152,502,112 117,011,014
Current Liabilities:    
Accounts payable 647,217 772,717
Derivative contracts, net 7,873,979 12,087,988
Current portion of operating lease liability 213,355 132,287
Income taxes payable 495,858 334,050
Accrued liabilities and other 2,032,275 1,809,337
Total current liabilities 11,262,684 15,136,379
Long-term debt 28,300,000 17,500,000
Deferred income taxes 1,585,906 343,906
Asset retirement obligations 1,901,904 2,836,172
Derivative contracts, net 687,212 1,696,479
Operating lease liability, net of current portion 985,887 789,339
Total liabilities 44,723,593 38,302,275
Stockholders' equity:    
Voting common stock, par value $0.01666 per share: 54,000,500 shares authorized and 35,776,752 shares issued and outstanding at September 30, 2022; 36,000,500 shares authorized and 32,770,433 shares issued and outstanding at September 30, 2021 596,041 545,956
Capital in excess of par value 44,177,051 33,213,645
Deferred directors' compensation 1,496,243 1,768,151
Retained earnings 67,117,791 48,966,420
Stockholders' Equity 113,387,126 84,494,172
Treasury stock, at cost: 377,232 shares at September 30, 2022; 388,545 shares at September 30, 2021 (5,608,607) (5,785,433)
Total stockholders' equity 107,778,519 78,708,739
Total liabilities and stockholders' equity $ 152,502,112 $ 117,011,014