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Condensed Statements Of Operations - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Revenues:        
Oil, NGL and natural gas sales $ 12,266,036 $ 8,890,902 $ 25,153,455 $ 17,790,120
Lease bonuses and rentals 499,198 2,334,203 596,157 3,172,161
Gains (losses) on derivative contracts (1,343,976) 2,739,183 (1,837,828) 38,650
Total revenues 11,421,258 13,964,288 23,911,784 21,000,931
Costs and expenses:        
Lease operating expenses 3,217,568 3,105,496 6,844,277 6,154,911
Production taxes 497,823 371,553 986,813 739,398
Depreciation, depletion and amortization 4,241,078 4,105,655 9,516,902 8,939,918
Provision for impairment 0 10,788 0 10,788
Loss (gain) on asset sales and other 216,472 91,337 (79,186) 86,998
Interest expense 435,951 286,398 867,530 578,767
General and administrative 1,766,190 1,719,628 3,654,333 3,562,110
Total costs and expenses 10,375,082 9,690,855 21,790,669 20,072,890
Income (loss) before provision (benefit) for income taxes 1,046,176 4,273,433 2,121,115 928,041
Provision (benefit) for income taxes (24,000) 803,000 (12,734,000) (304,000)
Net income (loss) $ 1,070,176 $ 3,470,433 $ 14,855,115 $ 1,232,041
Basic and diluted earnings (loss) per common share $ 0.06 $ 0.21 $ 0.87 $ 0.07
Basic and diluted weighted average shares outstanding:        
Common shares 16,766,010 16,644,755 16,725,076 16,624,229
Unissued, directors' deferred compensation shares 205,867 277,167 267,005 277,200
Basic and diluted weighted average shares outstanding 16,971,877 16,921,922 16,992,081 16,901,429
Dividends declared per share of common stock and paid in period $ 0.04 $ 0.04 $ 0.08 $ 0.08