Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Summary Of Provision (Benefit) For Income Taxes

	2021			2020			2019
Current:
Federal	$	315,050		$	(3,642,000	)	$	(1,388,000	)
State		19,000			-			19,000
		334,050			(3,642,000	)		(1,369,000	)
Deferred:
Federal		(824,000	)		(3,611,000	)		(9,763,000	)
State		(161,101	)		(1,036,000	)		(2,349,000	)
		(985,101	)		(4,647,000	)		(12,112,000	)
	$	(651,051	)	$	(8,289,000	)	$	(13,481,000	)

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

	2021			2020			2019
Provision (benefit) for income taxes at statutory rate	$	(1,429,291	)	$	(6,765,705	)	$	(11,387,447	)
Change in valuation allowance		1,228,899			96,000			-
Percentage depletion		(412,650	)		(258,300	)		(431,340	)
State income taxes, net of federal provision (benefit)		(176,960	)		(939,310	)		(1,986,850	)
Effect of NOL Carryback Rate		-			(610,803	)		-
Restricted stock tax benefit		76,000			58,000			185,000
Deferred directors’ compensation benefit		54,000			79,000			(38,000	)
Law change		47,000			-			-
Other		(38,049	)		52,118			177,637
	$	(651,051	)	$	(8,289,000	)	$	(13,481,000	)

Summary Of Deferred Tax Assets And Liabilities

	2021		2020
Deferred tax liabilities:
Financial basis in excess of tax basis, principally intangible    drilling costs capitalized for financial purposes and    expensed for tax purposes	$	4,090,017	$	3,880,307
Derivative contracts		-		-
Total deferred tax liabilities		4,090,017		3,880,307
Deferred tax assets:
State net operating loss carry forwards		238,439		391,193
Federal net operating loss carry forwards		-		369,523
Statutory depletion carryover		286,440		346,414
Asset retirement obligations		483,990		499,708
Deferred directors' compensation		390,683		436,225
Restricted stock expense		303,674		220,301
Derivative contracts		3,278,067		176,963
Other		91,717		110,973
Total deferred tax assets		5,073,010		2,551,300
Deferred tax asset valuation allowance		1,251,096		-
State NOL valuation allowance		75,803		-
Net deferred tax (assets) liabilities	$	343,906	$	1,329,007