Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies [Abstract]

Summary of derivative instruments contracts

Contract period	Production volume covered per month	Indexed (1) Pipeline	Fixed price
Natural gas fixed price swaps
April - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.65
April - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.65
April - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.70
April - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.75
May - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.50
May - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.60
June - October 2011	50,000 Mmbtu	NYMEX Henry Hub	$4.63
Natural gas basis protection swaps
January - December 2011	50,000 Mmbtu	CEGT	NYMEX -$.27
January - December 2011	50,000 Mmbtu	CEGT	NYMEX -$.27
January - December 2011	50,000 Mmbtu	PEPL	NYMEX -$.26
January - December 2011	50,000 Mmbtu	PEPL	NYMEX -$.27
January - December 2011	70,000 Mmbtu	PEPL	NYMEX -$.36
January - December 2012	50,000 Mmbtu	CEGT	NYMEX -$.29
January - December 2012	40,000 Mmbtu	CEGT	NYMEX -$.30
January - December 2012	50,000 Mmbtu	PEPL	NYMEX -$.29
January - December 2012	50,000 Mmbtu	PEPL	NYMEX -$.30
Oil costless collars
April - December 2011	5,000 Bbls	NYMEX WTI	$100 floor/$112 ceiling

(1) CEGT - Centerpoint Energy Gas Transmission’s East pipeline in Oklahoma

PEPL - Panhandle Eastern Pipeline Company’s Texas/Oklahoma mainline

Derivative contracts in place as of September 30, 2012

(prices below reflect the Company’s net price from the listed Oklahoma pipelines)

Contract period	Production volume covered per month	Indexed  (1) pipeline	Fixed price
Natural gas basis protection swaps
January - December 2012	50,000 Mmbtu	CEGT	NYMEX -$.29
January - December 2012	40,000 Mmbtu	CEGT	NYMEX -$.30
January - December 2012	50,000 Mmbtu	PEPL	NYMEX -$.29
January - December 2012	50,000 Mmbtu	PEPL	NYMEX -$.30
Natural gas costless collars
March - October 2012	50,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.25 ceiling
April - October 2012	120,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.10 ceiling
April - October 2012	60,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.20 ceiling
April - October 2012	50,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.20 ceiling
April - October 2012	50,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.45 ceiling
April - October 2012	50,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.30 ceiling
August - October 2012	50,000 Mmbtu	NYMEX Henry Hub	$2.50 floor/$3.30 ceiling
November 2012 - January 2013	150,000 Mmbtu	NYMEX Henry Hub	$3.00 floor/$3.70 ceiling
November 2012 - January 2013	150,000 Mmbtu	NYMEX Henry Hub	$3.00 floor/$3.70 ceiling
November 2012 - January 2013	50,000 Mmbtu	NYMEX Henry Hub	$3.00 floor/$3.65 ceiling
Oil costless collars
January - December 2012	2,000 Bbls	NYMEX WTI	$90 floor/$105 ceiling
February - December 2012	3,000 Bbls	NYMEX WTI	$90 floor/$110 ceiling
May - December 2012	2,000 Bbls	NYMEX WTI	$90 floor/$114 ceiling

Summary of realized and unrealized gains and (losses)

Gains (losses) on natural gas derivative contracts	Fiscal year ended
	9/30/2012			9/30/2011			9/30/2010
Realized	$	462,033		$	2,138,685		$	2,209,900
Increase (decrease) in fair value		(388,211	)		(1,404,386	)		4,133,761
Total	$	73,822		$	734,299		$	6,343,661

Summary of derivative contracts

	Balance Sheet Location	9/30/2012 Fair Value		9/30/2011 Fair Value
Asset Derivatives:
Derivatives not designated as Hedging Instruments:
Commodity contracts	Short-term derivative contracts	$	—	$	269,329
Commodity contracts	Long-term derivative contracts		—		—
Total Asset Derivatives (a)		$	—	$	269,329
Liability Derivatives:
Derivatives not designated as Hedging Instruments:
Commodity contracts	Short-term derivative contracts	$	172,271	$	—
Commodity contracts	Long-term derivative contracts		—		53,389
Total Liability Derivatives (a)		$	172,271	$	53,389

Summary of fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis

	Fair Value Measurement at September 30, 2012
	Quoted Prices  in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total Fair Value
Financial Assets (Liabilities):
Derivative Contracts - Swaps	$	—	$	(75,334	)	$	—		$	(75,334	)
Derivative Contracts - Collars	$	—	$	—		$	(96,937	)	$	(96,937	)

	Fair Value Measurement at September 30, 2011
	Quoted Prices  in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total Fair Value
Financial Assets (Liabilities):
Derivative Contracts - Swaps	$	—	$	(77,907	)	$	—	$	(77,907	)
Derivative Contracts - Collars	$	—	$	—		$	293,847	$	293,847

Summary of reconciliation of assets classified as Level 3 measurements

	Derivatives
Balance of Level 3 as of October 1, 2011	$	293,847
Total gains or (losses) - realized and unrealized:
Included in earnings
Realized		549,773
Unrealized		(940,557	)
Included in other comprehensive income (loss)		—
Purchases, issuances and settlements		—
Transfers in and out of Level 3		—
Balance of Level 3 as of September 30, 2012	$	(96,937	)

Summary of impairments associated with certain assets measured at fair value on a nonrecurring basis within Level 3

	Year Ended September 30,
	2012				2011
	Fair Value		Impairment		Fair Value		Impairment
Producing Properties	$	1,301,951	$	826,508	$	1,811,709	$	1,728,162	(a)

Summary of asset retirement obligation

	2012			2011
Asset Retirement Obligations as of beginning of the year	$	1,843,875		$	1,730,369
Accretion of Discount		121,112			109,198
New Wells Placed on Production		184,027			28,624
Wells Sold or Plugged		(26,064	)		(24,316	)
Asset Retirement Obligations as of end of the year	$	2,122,950		$	1,843,875