Note 10 - Exploration Costs

9 Months Ended

Jun. 30, 2013

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Oil and Gas Exploration and Production Industries Disclosures [Text Block]

NOTE 10: Exploration Costs

In the quarter and nine month period ended June 30, 2013, lease expirations and leasehold impairments of $25,345 and $53,961, respectively, were charged to exploration costs. Leasehold impairments are recorded for individually insignificant non-producing leases which the Company believes will not be transferred to proved properties over the remaining lives of the leases. In the quarter and nine month period ended June 30, 2013, the Company also had additional costs of $303 and $6,866, respectively, related to exploratory dry holes. In the quarter and nine month period ended June 30, 2012, lease expirations and impairments of $14,916 and $314,277, respectively, were charged to exploration costs as well as additional costs of $14,225 and $69,922, respectively, related to exploratory dry holes.