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Balance Sheets - USD ($)
Sep. 30, 2020
Sep. 30, 2019
Current Assets:    
Cash and cash equivalents $ 10,690,395 $ 6,160,691
Natural gas, oil and NGL sales receivables (net of allowance for uncollectable accounts) 2,943,220 4,377,646
Refundable income taxes 3,805,227 1,505,442
Derivative contracts, net   2,256,639
Other 351,088 177,037
Total current assets 17,789,930 14,477,455
Properties and equipment at cost, based on successful efforts accounting:    
Producing natural gas and oil properties 324,886,491 354,718,398
Non-producing natural gas and oil properties 18,993,814 14,599,023
Other 582,444 717,121
Gross properties and equipment, at cost, based on successful efforts accounting 344,462,749 370,034,542
Less accumulated depreciation, depletion and amortization (263,590,801) (258,607,521)
Net properties and equipment 80,871,948 111,427,021
Investments 79,308 205,076
Derivative contracts, net   237,505
Operating lease right-of-use assets 690,316  
Other, net 590,333 297,890
Total assets 100,021,835 126,644,947
Current Liabilities:    
Accounts payable 997,637 665,160
Derivative contracts, net 281,942  
Current portion of operating lease liability 127,108  
Accrued liabilities and other 1,297,363 2,433,466
Short-term debt 1,750,000  
Total current liabilities 4,454,050 3,098,626
Long-term debt 27,000,000 35,425,000
Deferred income taxes 1,329,007 5,976,007
Asset retirement obligations 2,897,522 2,835,781
Derivative contracts, net 425,705  
Operating lease liability, net of current portion 921,625  
Stockholders' equity:    
Class A voting common stock, $0.01666 par value; 24,000,500 shares authorized; 22,647,306 issued at September 30, 2020, and Class A voting common stock, $0.01666 par value; 24,000,000 shares authorized; 16,897,306 issued at September 30, 2019 377,304 281,509
Capital in excess of par value 10,649,611 2,967,984
Deferred directors' compensation 1,874,007 2,555,781
Retained earnings 56,244,100 81,848,301
Stockholders' Equity 69,145,022 87,653,575
Treasury stock, at cost; 411,487 shares at September 30, 2020; 558,051 shares at September 30, 2019 (6,151,096) (8,344,042)
Total stockholders' equity 62,993,926 79,309,533
Total liabilities and stockholders' equity $ 100,021,835 $ 126,644,947