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Balance Sheets - USD ($)
Sep. 30, 2018
Sep. 30, 2017
Current Assets:    
Cash and cash equivalents $ 532,502 $ 557,791
Oil, NGL and natural gas sales receivables (net of allowance for uncollectable accounts) 7,101,629 7,585,485
Refundable income taxes 33,165 489,945
Derivative contracts, net   544,924
Assets held for sale   557,750
Other 578,880 253,480
Total current assets 8,246,176 9,989,375
Properties and equipment at cost, based on successful efforts accounting:    
Producing oil and natural gas properties 427,448,584 434,571,516
Non-producing oil and natural gas properties 12,563,519 7,428,927
Other 1,529,770 1,067,894
Gross properties and equipment, at cost, based on successful efforts accounting 441,541,873 443,068,337
Less accumulated depreciation, depletion and amortization (243,257,472) (246,483,979)
Net properties and equipment 198,284,401 196,584,358
Investments 219,109 170,486
Total assets 206,749,686 206,744,219
Current Liabilities:    
Accounts payable 881,130 1,847,230
Derivative contracts, net 3,064,046  
Accrued liabilities and other 1,791,950 1,690,789
Total current liabilities 5,737,126 3,538,019
Long-term debt 51,000,000 52,222,000
Deferred income taxes 18,088,007 31,051,007
Asset retirement obligations 2,809,378 3,196,889
Derivative contracts, net 349,970 28,765
Stockholders' equity:    
Class A voting common stock, $0.0166 par value; 24,000,000 shares authorized; 16,896,881 issued at September 30, 2018; 16,863,004 issued at September 30, 2017 281,502 280,938
Capital in excess of par value 2,824,691 2,726,444
Deferred directors' compensation 2,950,405 3,459,909
Retained earnings 125,266,945 113,330,216
Stockholders' Equity 131,323,543 119,797,507
Treasury stock, at cost; 145,467 shares at September 30, 2018; 184,988 shares at September 30, 2017 (2,558,338) (3,089,968)
Total stockholders' equity 128,765,205 116,707,539
Total liabilities and stockholders' equity $ 206,749,686 $ 206,744,219