Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Summary Of Derivative Instruments Contracts

Derivative contracts in place as of September 30, 2018

	Production volume
Contract period	covered per month	Index	Contract price
Natural gas costless collars
January - December 2018	40,000 Mmbtu	NYMEX Henry Hub	$2.75 floor / $3.35 ceiling
January - December 2018	40,000 Mmbtu	NYMEX Henry Hub	$2.75 floor / $3.30 ceiling
April - December 2018	50,000 Mmbtu	NYMEX Henry Hub	$2.80 floor / $3.15 ceiling
Natural gas fixed price swaps
January - December 2018	50,000 Mmbtu	NYMEX Henry Hub	$3.080
April - December 2018	40,000 Mmbtu	NYMEX Henry Hub	$2.910
July - December 2018	100,000 Mmbtu	NYMEX Henry Hub	$2.835
July - December 2018	100,000 Mmbtu	NYMEX Henry Hub	$2.925
July - December 2018	50,000 Mmbtu	NYMEX Henry Hub	$2.988
July 2018 - March 2019	50,000 Mmbtu	NYMEX Henry Hub	$3.065
January - July 2019	100,000 Mmbtu	NYMEX Henry Hub	$2.867
Oil costless collars
January - December 2018	2,000 Bbls	NYMEX WTI	$47.50 floor / $52.50 ceiling
January - December 2018	2,000 Bbls	NYMEX WTI	$48.00 floor / $53.25 ceiling
January - December 2018	2,000 Bbls	NYMEX WTI	$50.00 floor / $55.75 ceiling
July - December 2018	3,000 Bbls	NYMEX WTI	$50.00 floor / $58.00 ceiling
January - June 2019	2,000 Bbls	NYMEX WTI	$55.00 floor / $63.45 ceiling
January - December 2019	1,000 Bbls	NYMEX WTI	$50.00 floor / $60.00 ceiling
January - December 2019	2,000 Bbls	NYMEX WTI	$60.00 floor / $69.25 ceiling
July - December 2019	3,000 Bbls	NYMEX WTI	$60.00 floor / $70.75 ceiling
January - June 2020	2,000 Bbls	NYMEX WTI	$60.00 floor / $67.00 ceiling
Oil fixed price swaps
January - December 2018	3,000 Bbls	NYMEX WTI	$50.72
January - December 2018	2,000 Bbls	NYMEX WTI	$52.02
April - December 2018	4,000 Bbls	NYMEX WTI	$54.14
July - December 2018	2,000 Bbls	NYMEX WTI	$58.20
January - June 2019	2,000 Bbls	NYMEX WTI	$59.69
January - June 2019	2,000 Bbls	NYMEX WTI	$57.15
January - June 2019	3,000 Bbls	NYMEX WTI	$58.02
January - December 2019	1,000 Bbls	NYMEX WTI	$56.15
January - December 2019	2,000 Bbls	NYMEX WTI	$56.71
January - December 2019	1,000 Bbls	NYMEX WTI	$58.56
July - December 2019	2,000 Bbls	NYMEX WTI	$56.85

Derivative contracts in place as of September 30, 2017

	Production volume
Contract period	covered per month	Index	Contract price
Natural gas costless collars
January - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$2.80 floor / $3.47 ceiling
January - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$3.00 floor / $3.35 ceiling
April - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$2.80 floor / $3.35 ceiling
April - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$2.75 floor / $3.35 ceiling
April - December 2017	30,000 Mmbtu	NYMEX Henry Hub	$3.00 floor / $3.65 ceiling
May - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$3.00 floor / $3.60 ceiling
May - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$3.20 floor / $3.65 ceiling
January - March 2018	100,000 Mmbtu	NYMEX Henry Hub	$3.50 floor / $3.95 ceiling
January - March 2018	150,000 Mmbtu	NYMEX Henry Hub	$3.40 floor / $3.95 ceiling
January - December 2018	40,000 Mmbtu	NYMEX Henry Hub	$2.75 floor / $3.35 ceiling
January - December 2018	40,000 Mmbtu	NYMEX Henry Hub	$2.75 floor / $3.30 ceiling
Natural gas fixed price swaps
January - December 2017	25,000 Mmbtu	NYMEX Henry Hub	$3.100
April - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$3.070
April - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$3.210
April - December 2017	30,000 Mmbtu	NYMEX Henry Hub	$3.300
July - December 2017	50,000 Mmbtu	NYMEX Henry Hub	$3.510
August - December 2017	100,000 Mmbtu	NYMEX Henry Hub	$3.095
January - March 2018	50,000 Mmbtu	NYMEX Henry Hub	$3.700
January - March 2018	75,000 Mmbtu	NYMEX Henry Hub	$3.575
January - March 2018	100,000 Mmbtu	NYMEX Henry Hub	$3.520
January - December 2018	50,000 Mmbtu	NYMEX Henry Hub	$3.080
Oil costless collars
January - December 2017	3,000 Bbls	NYMEX WTI	$50.00 floor / $55.00 ceiling
January - December 2017	3,000 Bbls	NYMEX WTI	$52.00 floor / $58.00 ceiling
January - December 2017	3,000 Bbls	NYMEX WTI	$53.00 floor / $57.75 ceiling
April - December 2017	2,000 Bbls	NYMEX WTI	$50.00 floor / $57.50 ceiling
July - December 2017	5,000 Bbls	NYMEX WTI	$45.00 floor / $56.25 ceiling
January - June 2018	2,000 Bbls	NYMEX WTI	$47.50 floor / $52.75 ceiling
January - December 2018	2,000 Bbls	NYMEX WTI	$47.50 floor / $52.50 ceiling
January - December 2018	2,000 Bbls	NYMEX WTI	$48.00 floor / $53.25 ceiling
Oil fixed price swaps
January - December 2017	3,000 Bbls	NYMEX WTI	$53.89
April - December 2017	2,000 Bbls	NYMEX WTI	$54.20
January - March 2018	4,000 Bbls	NYMEX WTI	$54.00
January - June 2018	4,000 Bbls	NYMEX WTI	$51.25
January - December 2018	3,000 Bbls	NYMEX WTI	$50.72
January - December 2018	2,000 Bbls	NYMEX WTI	$52.02

Summary Of Derivative Contracts

	9/30/2018								9/30/2017
	Fair Value								Fair Value
	Commodity Contracts								Commodity Contracts
	CurrentAssets			Current Liabilities			Non-Current Liabilities		CurrentAssets			Current Liabilities			Non-Current Assets			Non-Current Liabilities
Gross amounts recognized	$	42,150		$	3,106,196		$	349,970	$	735,702		$	190,778		$	9,439		$	38,204
Offsetting adjustments		(42,150	)		(42,150	)		-		(190,778	)		(190,778	)		(9,439	)		(9,439	)
Net presentation on Balance Sheets	$	-		$	3,064,046		$	349,970	$	544,924		$	-		$	-		$	28,765

Summary Of Fair Value Measurement Information For Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table provides fair value measurement information for financial assets and liabilities measured at fair value on a recurring basis.

	Fair Value Measurement at September 30, 2018
	Quoted Prices in Active Markets		Significant Other Observable Inputs			Significant Unobservable Inputs		TotalFair
	(Level 1)		(Level 2)			(Level 3)		Value
Financial Assets (Liabilities):
Derivative Contracts - Swaps	$	-	$	(2,317,069	)	$	-	$	(2,317,069	)
Derivative Contracts - Collars	$	-	$	(1,096,947	)	$	-	$	(1,096,947	)

	Fair Value Measurement at September 30, 2017
	Quoted Prices in Active Markets		Significant Other Observable Inputs		Significant Unobservable Inputs		Total Fair
	(Level 1)		(Level 2)		(Level 3)		Value
Financial Assets (Liabilities):
Derivative Contracts - Swaps	$	-	$	364,606	$	-	$	364,606
Derivative Contracts - Collars	$	-	$	-	$	151,553	$	151,553

Summary Of Reconciliation Of Derivative Contracts Classified As Level 3 Measurements

A reconciliation of the Company’s derivative contracts classified as Level 3 measurements is presented below.

	Derivatives
Net Asset (Liability) Balance of Level 3 as of October 1, 2017	$	151,553
Total gains or (losses):
Included in earnings		(877,307	)
Included in other comprehensive income (loss)		-
Purchases, issuances and settlements		(371,193	)
Transfers in and out of Level 3 (i)		1,096,947
Net Asset (Liability) Balance of Level 3 as of September 30, 2018	$	-

(i) During the fourth quarter of 2018, we transferred $1,096,947 of derivative collars out of Level 3 hierarchy, into Level 2 hierarchy as a result of our ability to obtain volatility inputs from direct observable sources.

Summary Of Impairments Associated With Certain Assets Measured At Fair Value On A Nonrecurring Basis Within Level 3

The following table presents impairments associated with certain assets that have been measured at fair value on a nonrecurring basis within Level 3 of the fair value hierarchy.

	Year Ended September 30,
	2018				2017				2016
	Fair Value		Impairment		Fair Value		Impairment		Fair Value		Impairment
Producing Properties (a)	$	-	$	-	$	567,077	$	662,990	$	9,877,905	$	12,001,271

(a) 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 or fair value (selling price) less cost to sell if the property is held for sale. 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.

Summary Of Asset Retirement Obligation

The following table shows the activity for the years ended September 30, 2018 and 2017, relating to the Company’s asset retirement obligations:

	2018			2017
Asset retirement obligations as of beginning of the year	$	3,196,889		$	2,958,048
Wells acquired or drilled		17,215			114,766
Wells sold or plugged		(542,892	)		(548,634	)
Revisions in estimated cash flows		-			536,536
Accretion of discount		138,166			136,173
Asset retirement obligations as of end of the year	$	2,809,378		$	3,196,889