Income Taxes (Tables)

12 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Summary Of Provision (Benefit) For Income Taxes

	2018			2017			2016
Current:
Federal	$	204,000		$	314,000		$	2,166,000
State		20,000			-			83,000
		224,000			314,000			2,249,000
Deferred:
Federal		(13,240,000	)		390,000			(8,597,000	)
State		277,000			(15,000	)		(1,363,000	)
		(12,963,000	)		375,000			(9,960,000	)
	$	(12,739,000	)	$	689,000		$	(7,711,000	)

Summary Of Difference Between Provision (Benefit) For Income Taxes And Amount Which Would Result From Application Of Federal Statutory Rate

	2018			2017			2016
Provision (benefit) for income taxes at statutory rate	$	465,253		$	1,477,327		$	(6,299,259	)
Percentage depletion		(577,780	)		(570,801	)		(395,649	)
State income taxes, net of federal provision (benefit)		36,980			3,900			(683,800	)
Effect of graduated rates		-			85,644			(86,745	)
Restricted stock tax benefit		(69,000	)		(238,000	)		-
Deferred directors compensation benefit		(134,000	)		(79,000	)		-
Law change (a)		(12,464,000	)		-			-
Other		3,547			9,930			(245,547	)
	$	(12,739,000	)	$	689,000		$	(7,711,000	)

(a) This is the tax effect of the Tax Cuts and Jobs Act (enacted in December 2017) on our deferred tax liabilities. This Act reduced the U.S. federal corporate tax rate from 35% to 21%.

Summary Of Deferred Tax Assets And Liabilities

	2018		2017
Deferred tax liabilities:
Financial basis in excess of tax basis, principally intangible    drilling costs capitalized for financial purposes and    expensed for tax purposes	$	24,560,165	$	38,185,387
Derivative contracts		-		200,786
		24,560,165		38,386,173
Deferred tax assets:
State net operating loss carry forwards		551,435		655,741
AMT credit carry forwards		2,936,457		3,499,320
Deferred directors' compensation		725,971		1,295,333
Restricted stock expense		249,610		411,019
Derivative contracts		878,767		-
Statutory depletion carry forwards		-		634,405
Other		1,129,918		839,348
		6,472,158		7,335,166
Net deferred tax liabilities	$	18,088,007	$	31,051,007