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Condensed Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue:        
Oil and natural gas (and associated natural gas liquids) sales $ 8,438,709 $ 11,190,482 $ 29,748,884 $ 31,829,991
Lease bonuses and rentals 5,014,238 83,485 6,936,156 225,340
Gains (losses) on derivative contracts 81,164 344,856 449,997 332,183
Income from partnerships 115,581 69,594 355,898 179,910
Total revenues 13,649,692 11,688,417 37,490,935 32,567,424
Costs and expenses:        
Lease operating expenses 2,254,543 2,212,181 6,570,942 6,491,630
Production taxes 289,642 268,425 1,071,993 1,035,497
Exploration costs 29,141 418,055 384,199 995,512
Depreciation, depletion and amortization 4,597,363 3,716,460 13,680,737 10,782,656
Provision for impairment 205,915 2,927 786,724 830,946
Loss (gain) on asset sales, interest and other 93,350 (44,279) 45,846 (63,505)
General and administrative 1,498,439 1,423,219 4,802,119 4,529,157
Total costs and expenses 8,968,393 7,996,988 27,342,560 24,601,893
Income before provision for income taxes 4,681,299 3,691,429 10,148,375 7,965,531
Provision for income taxes 1,581,000 1,041,000 2,960,000 2,116,000
Net income $ 3,100,299 $ 2,650,429 $ 7,188,375 $ 5,849,531
Basic and diluted earnings per common share (Note 3) $ 0.37 $ 0.32 $ 0.86 $ 0.70
Basic and diluted weighted average shares outstanding:        
Common shares 8,249,954 8,256,252 8,253,079 8,279,784
Unissued, directors' deferred compensation shares 115,087 123,310 133,702 119,943
Total basic and diluted weighted average shares outstanding 8,365,041 8,379,562 8,386,781 8,399,727
Dividends declared per share of common stock and paid in period $ 0.07 $ 0.07 $ 0.21 $ 0.21