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Balance Sheets - USD ($)
Dec. 31, 2023
Sep. 30, 2022
Current Assets:    
Cash and cash equivalents $ 806,254 $ 3,396,809
Natural gas, oil and NGL sales receivables (net of $0 allowance for uncollectable accounts) 4,900,126 13,152,274
Refundable income taxes 455,931  
Derivative contracts, net 3,120,607  
Other 878,659 1,372,847
Total current assets 10,161,577 17,921,930
Properties and equipment at cost, based on successful efforts accounting:    
Producing natural gas and oil properties 209,082,847 248,978,928
Non-producing natural gas and oil properties 58,820,445 51,779,336
Other 1,360,614 1,085,056
Gross properties and equipment, at cost, based on successful efforts accounting 269,263,906 301,843,320
Less accumulated depreciation, depletion and amortization (114,139,423) (168,759,385)
Net properties and equipment 155,124,483 133,083,935
Derivative contracts, net 162,980  
Operating lease right-of-use assets 572,610 739,131
Other, net 486,630 757,116
Total assets 166,508,280 152,502,112
Current Liabilities:    
Accounts payable 562,607 647,217
Derivative contracts, net   7,873,979
Current portion of operating lease liability 233,390 213,355
Income taxes payable   495,858
Accrued liabilities and other 1,215,275 2,032,275
Total current liabilities 2,011,272 11,262,684
Long-term debt 32,750,000 28,300,000
Deferred income taxes 6,757,637 1,585,906
Asset retirement obligations 1,062,139 1,901,904
Derivative contracts, net   687,212
Operating lease liability, net of current portion 695,818 985,887
Total liabilities 43,276,866 44,723,593
Stockholders' equity:    
Voting common stock, par value $0.01666 per share: 54,000,500 shares authorized and 36,121,723 shares issued and outstanding at December 31, 2023; 54,000,500 shares authorized and 35,776,752 shares issued and outstanding at September 30, 2022 601,788 596,041
Capital in excess of par value 41,676,417 44,177,051
Deferred directors' compensation 1,487,590 1,496,243
Retained earnings 80,022,839 67,117,791
Stockholders' Equity 123,788,634 113,387,126
Treasury stock, at cost: 131,477 shares at December 31, 2023; 377,232 shares at September 30, 2022 (557,220) (5,608,607)
Total stockholders' equity 123,231,414 107,778,519
Total liabilities and stockholders' equity $ 166,508,280 $ 152,502,112