Subsequent Events	12 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	15. SUBSEQUENT EVENTS Third Amendment to Credit Agreement On December 7, 2022, the Company entered into a Third Amendment (the “Third Amendment”) to the Credit Agreement. Pursuant to the terms of the Third Amendment, among other changes, (a) the borrowing base under the Credit Facility was reaffirmed at $50 million, which constitutes the periodic redetermination of the borrowing base for December 1, 2022 and is not deemed an unscheduled redetermination, (b) the required title percentage owed by the Company was decreased from 80% to 50% and (c) the required mortgage percentage owed by the Company was decreased from 80% to 75%. The above description of the material terms and conditions of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is filed as Exhibit 10.8 to this Annual Report on Form 10-K. Acquisitions Subsequent to September 30, 2022, the Company has closed on additional acquisitions of 930 net royalty acres located in the SCOOP and Haynesville plays for approximately $10.3 million funded through cash on hand and additional borrowings of $5 million. Change in Fiscal Year and Amendment of Bylaws On December 9, 2022, the Company’s Board approved a change in fiscal year from the twelve months beginning October 1st and ending September 30th to the twelve months beginning January 1st and ending December 31st. The Company plans to file a transition report on Form 10-QT for the transition period from October 1, 2022 to December 31, 2022. The Company’s fiscal year 2023 will begin January 1, 2023 and end December 31, 2023. In order to reflect the change in fiscal year, the Company’s Board has adopted an amendment to the Company’s Bylaws, effective December 9, 2022. Section 7.08 of the Company’s Bylaws has been amended to provide that the fiscal year of the Company shall consist of twelve (12) calendar months terminating on December 31st of each calendar year, rather than terminating on September 30th of each calendar year. Further, Section 7.08 of the Company’s Bylaws has been amended to provide that the Board may further change the fiscal year of the Company, without amending the Bylaws, by resolution adopted by a majority of the whole Board at any special or regular meeting of the Board. A copy of the Amended and Restated Bylaws of the Company is filed as Exhibit 3.2 to this Annual Report on Form 10-K. Termination of a Material Definitive Contract On December 12, 2022, the Company voluntarily terminated its At-The-Market Equity Offering Sales Agreement, dated August 25, 2021, as amended by Amendment No. 1 dated May 10, 2022 (the “ATM Agreement”), that was entered into with Stifel. Pursuant to the ATM Agreement, the Company was authorized to offer and sell, from time to time, through or to Stifel, up to 3,000,000 shares of Common Stock. During the term of the ATM Agreement, 1,531,013 shares of Common Stock were sold pursuant to the ATM Agreement for proceeds of approximately $5.9 million, net of commissions paid. The ATM Agreement was terminable at will by the Company at any time without penalty.

Subsequent Events

12 Months Ended

Sep. 30, 2022

15. SUBSEQUENT EVENTS

Third Amendment to Credit Agreement

On December 7, 2022, the Company entered into a Third Amendment (the “Third Amendment”) to the Credit Agreement. Pursuant to the terms of the Third Amendment, among other changes, (a) the borrowing base under the Credit Facility was reaffirmed at $50 million, which constitutes the periodic redetermination of the borrowing base for December 1, 2022 and is not deemed an unscheduled redetermination, (b) the required title percentage owed by the Company was decreased from 80% to 50% and (c) the required mortgage percentage owed by the Company was decreased from 80% to 75%.

The above description of the material terms and conditions of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is filed as Exhibit 10.8 to this Annual Report on Form 10-K.

Acquisitions

Subsequent to September 30, 2022, the Company has closed on additional acquisitions of 930 net royalty acres located in the SCOOP and Haynesville plays for approximately $10.3 million funded through cash on hand and additional borrowings of $5 million.

Change in Fiscal Year and Amendment of Bylaws

On December 9, 2022, the Company’s Board approved a change in fiscal year from the twelve months beginning October 1st and ending September 30th to the twelve months beginning January 1st and ending December 31st. The Company plans to file a transition report on Form 10-QT for the transition period from October 1, 2022 to December 31, 2022. The Company’s fiscal year 2023 will begin January 1, 2023 and end December 31, 2023.

In order to reflect the change in fiscal year, the Company’s Board has adopted an amendment to the Company’s Bylaws, effective December 9, 2022. Section 7.08 of the Company’s Bylaws has been amended to provide that the fiscal year of the Company shall consist of twelve (12) calendar months terminating on December 31st of each calendar year, rather than terminating on September 30th of each calendar year. Further, Section 7.08 of the Company’s Bylaws has been amended to provide that the Board

may further change the fiscal year of the Company, without amending the Bylaws, by resolution adopted by a majority of the whole Board at any special or regular meeting of the Board.

A copy of the Amended and Restated Bylaws of the Company is filed as Exhibit 3.2 to this Annual Report on Form 10-K.

Termination of a Material Definitive Contract

On December 12, 2022, the Company voluntarily terminated its At-The-Market Equity Offering Sales Agreement, dated August 25, 2021, as amended by Amendment No. 1 dated May 10, 2022 (the “ATM Agreement”), that was entered into with Stifel. Pursuant to the ATM Agreement, the Company was authorized to offer and sell, from time to time, through or to Stifel, up to 3,000,000 shares of Common Stock. During the term of the ATM Agreement, 1,531,013 shares of Common Stock were sold pursuant to the ATM Agreement for proceeds of approximately $5.9 million, net of commissions paid. The ATM Agreement was terminable at will by the Company at any time without penalty.