XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Statements Of Operations - USD ($)
3 Months Ended 6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Revenues:        
Revenues $ 9,221,319   $ 21,432,038  
Gains (losses) on derivative contracts (1,793,852) $ (1,343,976) 2,712,928 $ (1,837,828)
Gain on asset sales     9,096,938  
Revenues 7,636,213 11,421,258 33,965,207 23,911,784
Costs and expenses:        
Lease operating expenses 2,988,178 3,217,568 6,092,748 6,844,277
Production taxes 467,308 497,823 1,076,259 986,813
Depreciation, depletion and amortization 3,623,976 4,241,078 7,437,662 9,516,902
Interest expense 485,784 435,951 1,025,154 867,530
General and administrative 2,133,153 1,766,190 4,071,993 3,654,333
Loss on asset sales and other expense (income) (852) 216,472 15,785 (79,186)
Total costs and expenses 9,697,547 10,375,082 19,719,601 21,790,669
Income (loss) before provision (benefit) for income taxes (2,061,334) 1,046,176 14,245,606 2,121,115
Provision (benefit) for income taxes (130,000) (24,000) 3,441,000 (12,734,000)
Net income (loss) $ (1,931,334) $ 1,070,176 $ 10,804,606 $ 14,855,115
Basic and diluted earnings (loss) per common share $ (0.11) $ 0.06 $ 0.64 $ 0.87
Basic and diluted weighted average shares outstanding:        
Common shares 16,679,187 16,766,010 16,712,493 16,725,076
Unissued, directors' deferred compensation shares 183,206 205,867 217,704 267,005
Basic and diluted weighted average shares outstanding 16,862,393 16,971,877 16,930,197 16,992,081
Dividends declared per share of common stock and paid in period $ 0.04 $ 0.04 $ 0.08 $ 0.08
Oil, NGL and Natural Gas [Member]        
Revenues:        
Revenues $ 9,221,319 $ 12,266,036 $ 21,432,038 $ 25,153,455
Lease Bonuses and Rental Income [Member]        
Revenues:        
Revenues $ 208,746 $ 499,198 $ 723,303 $ 596,157