XML 30 R22.htm IDEA: XBRL DOCUMENT v3.23.3
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Asset Retirement Obligations (Policies)
12 Months Ended
Sep. 30, 2023
Policies  
Asset Retirement Obligations

Asset retirement obligations: If the Company acquires a working interest in an oil and gas property that is placed in service, it records a liability for its ARO. Subsequently, the ARO liability is accreted to its then-present value. Inherent in the estimation of ARO are numerous assumptions and judgments including ultimate settlement amounts, inflation rates, discount rates, timing of settlement, and changes in regulations. To the extent changes in these assumptions impact the estimate of the ARO, a corresponding adjustment is made to the oil and gas property balance. Settlements greater than or less than amounts accrued as ARO are recorded as a gain or loss upon settlement.