Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Summary Of Derivative Instruments Contracts

Derivative contracts in place as of September 30, 2019

	Production volume
Contract period	covered per month	Index	Contract price
Natural gas fixed price swaps
July - December 2019	100,000 Mmbtu	NYMEX Henry Hub	$2.960
July - December 2019	100,000 Mmbtu	NYMEX Henry Hub	$2.950
July - December 2019	100,000 Mmbtu	NYMEX Henry Hub	$2.995
July 2019 - March 2020	100,000 Mmbtu	NYMEX Henry Hub	$2.982
August - December 2019	100,000 Mmbtu	NYMEX Henry Hub	$3.004
January - December 2020	80,000 Mmbtu	NYMEX Henry Hub	$2.750
Oil costless collars
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
July 2019 - June 2020	2,000 Bbls	NYMEX WTI	$65.00 floor / $76.15 ceiling
January - June 2020	2,000 Bbls	NYMEX WTI	$60.00 floor / $67.00 ceiling
January - December 2020	2,000 Bbls	NYMEX WTI	$55.00 floor / $62.00 ceiling
Oil fixed price swaps
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
July - December 2019	5,000 Bbls	NYMEX WTI	$58.50
July - December 2019	1,000 Bbls	NYMEX WTI	$60.60
January - December 2020	2,000 Bbls	NYMEX WTI	$55.28
January - December 2020	2,000 Bbls	NYMEX WTI	$58.65
January - December 2020	2,000 Bbls	NYMEX WTI	$60.00

Summary Of Derivative Contracts

	9/30/2019				9/30/2018
	Fair Value				Fair Value
	Commodity Contracts				Commodity Contracts
	CurrentAssets		Non-Current Assets		CurrentAssets			Current Liabilities			Non-Current Liabilities
Gross amounts recognized	$	2,256,639	$	237,505	$	42,150		$	3,106,196		$	349,970
Offsetting adjustments		-		-		(42,150	)		(42,150	)		-
Net presentation on Balance Sheets	$	2,256,639	$	237,505	$	-		$	3,064,046		$	349,970

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, 2019
	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	$	-	$	1,892,954	$	-	$	1,892,954
Derivative Contracts - Collars	$	-	$	601,190	$	-	$	601,190

	Fair Value Measurement at September 30, 2018
	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	$	-	$	(2,317,069	)	$	-	$	(2,317,069	)
Derivative Contracts - Collars	$	-	$	(1,096,947	)	$	-	$	(1,096,947	)

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,
	2019				2018				2017
	Fair Value		Impairment		Fair Value		Impairment		Fair Value		Impairment
Producing Properties (a)	$	9,101,032	$	76,824,337	$	-	$	-	$	567,077	$	662,990

^(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 Accrued Liabilities

The following table shows the balances for the years ended September 30, 2019 and 2018, relating to the Company’s accrued liabilities:

	Year Ended September 30,
	2019		2018
Accrued compensation	$	1,446,710	$	905,445
Revenues payable		396,954		253,850
Accrued ad valorem		260,550		317,105
Other		329,252		315,550
Total accrued liabilities	$	2,433,466	$	1,791,950

Summary Of Asset Retirement Obligation

The following table shows the activity for the years ended September 30, 2019 and 2018, relating to the Company’s asset retirement obligations:

	2019			2018
Asset retirement obligations as of beginning of the year	$	2,809,378		$	3,196,889
Wells acquired or drilled		27,783			17,215
Wells sold or plugged		(134,090	)		(542,892	)
Accretion of discount		132,710			138,166
Asset retirement obligations as of end of the year	$	2,835,781		$	2,809,378