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Condensed Balance Sheets - USD ($)
Dec. 31, 2022
Sep. 30, 2022
Current assets:    
Cash and cash equivalents $ 2,115,652 $ 3,396,809
Natural gas, oil, and NGL sales receivables (net of $0 allowance for uncollectable accounts) 9,783,996 13,152,274
Held for sale assets 6,420,051  
Other 1,543,956 1,372,847
Total current assets 19,863,655 17,921,930
Properties and equipment at cost, based on successful efforts accounting:    
Producing natural gas and oil properties 181,431,139 248,978,928
Non-producing natural gas and oil properties 57,781,644 51,779,336
Other 1,122,436 1,085,056
Gross properties and equipment, at cost, based on successful efforts accounting 240,335,219 301,843,320
Less accumulated depreciation, depletion and amortization (107,085,212) (168,759,385)
Net properties and equipment 133,250,007 133,083,935
Derivative contracts, net [1] 141,345  
Operating lease right-of-use assets 706,871 739,131
Other, net 695,399 757,116
Total assets 154,657,277 152,502,112
Current liabilities:    
Accounts payable 504,466 647,217
Derivative contracts, net [1] 1,534,034 7,873,979
Income taxes payable 576,427 495,858
Current portion of operating lease liability 217,656 213,355
Held for Sale Liabilities 889,155  
Accrued liabilities and other 3,121,522 2,032,275
Total current liabilities 6,843,260 11,262,684
Long-term debt 33,300,000 28,300,000
Deferred income taxes, net 2,453,906 1,585,906
Asset retirement obligations 1,027,777 1,901,904
Derivative contracts, net [1]   687,212
Operating lease liability, net of current portion 929,208 985,887
Total liabilities 44,554,151 44,723,593
Stockholders' equity:    
Common Stock, $0.01666 par value; 54,000,500 shares authorized and 35,938,206 issued at December 31, 2022; 54,000,500 shares authorized and 35,776,752 issued at September 30, 2022 598,731 596,041
Capital in excess of par value 43,344,916 44,177,051
Deferred directors' compensation 1,541,070 1,496,243
Retained earnings 68,925,774 67,117,791
Stockholders' Equity 114,410,491 113,387,126
Less treasury stock, at cost; 300,272 shares at December 31, 2022, and 377,232 shares at September 30, 2022 (4,307,365) (5,608,607)
Total stockholders' equity 110,103,126 107,778,519
Total liabilities and stockholders' equity $ 154,657,277 $ 152,502,112
[1] See Note 10: Fair Value Measurements for further disclosures regarding fair value of financial instruments.