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Condensed Statements Of Operations - USD ($)
12 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2014
Revenues:      
Oil, NGL and natural gas sales $ 31,411,353 $ 54,533,914 $ 82,846,528
Lease bonuses and rentals 7,735,785 2,010,395 423,328
Gains (losses) on derivative contracts (86,355) 13,822,506 247,414
Income from partnerships 2,400 515,278 893,954
Total revenues 39,063,183 70,882,093 84,411,224
Costs and expenses:      
Lease operating expenses 13,590,089 17,472,408 13,912,792
Production taxes 1,071,632 1,702,302 2,694,118
Exploration costs 31,589 48,404 86,017
Depreciation, depletion and amortization 24,487,565 23,821,139 21,896,902
Provision for impairment 12,001,271 [1] 5,009,191 [1] 1,096,076
Loss (gain) on asset sales and other (2,624,642) (398,994) 8,378
Interest expense 1,344,619 1,550,483 462,296
General and administrative 7,139,728 7,339,320 7,433,183
Bad debt expense (recovery) 19,216 180,499  
Total costs and expenses 57,061,067 56,724,752 47,589,762
Income (loss) before provision (benefit) for income taxes (17,997,884) 14,157,341 36,821,462
Provision (benefit) for income taxes (7,711,000) 4,836,000 11,820,000
Net income (loss) $ (10,286,884) $ 9,321,341 $ 25,001,462
Basic and diluted earnings (loss) per common share $ (0.61) $ 0.56 $ 1.49
[1] At the end of each quarter, the Company assessed the carrying value of its producing properties for impairment. This assessment utilized estimates of future cash flows. Significant judgments and assumptions in these assessments include estimates of future oil, NGL and natural gas prices using a forward NYMEX curve adjusted for projected inflation, locational basis differentials, drilling plans, expected capital costs and an applicable discount rate commensurate with risk of the underlying cash flow estimates. These assessments identified certain properties with carrying value in excess of their calculated fair values.