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Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Impairment or Disposal of Long-Lived Assets, Policy (Policies)
12 Months Ended
Sep. 30, 2022
Policies  
Impairment or Disposal of Long-Lived Assets, Policy

Impairment of long-lived assets: The Company assesses long-lived assets for impairment when the carrying value of such assets may not be recoverable. This review compares the asset’s carrying value with management’s estimate of its undiscounted cash flows. If the estimated cash flows exceed the carrying value, no impairment is recognized. If the carrying value exceeds the estimated cash flows, an impairment equal to the excess of the carrying value over the estimated cash flows is recognized. No such impairment may be restored in the future. The Company’s proved oil and gas properties are assessed for impairment on an individual field basis.