Property and Equipment

6 Months Ended

Mar. 31, 2012

Property and Equipment

	March 31, 2012
			Accumulated		Net Book
	Cost		Depreciation		Value

Computer equipment	$	31,084	$	28,501	$	2,583
Office furniture and equipment		33,199		19,647		13,552
Software		5,826		5,826		–
Leasehold improvements		4,936		3,232		1,704
Portable work camp		170,580		110,190		60,390
Vehicles		38,077		24,597		13,480
Oilfield equipment		154,713		73,685		81,028
Road mats		364,614		235,532		129,082
Wellhead		3,254		763		2,491
Tanks		96,085		25,844		70,240
	$	902,368	$	527,817	$	374,550

	September 30, 2011
			Accumulated		Net Book
	Cost		Depreciation		Value

Computer Equipment	$	30,655	$	28,060	$	2,595
Office furniture and equipment		33,199		18,141		15,058
Software		5,826		5,826		–
Leasehold improvements		4,936		2,277		2,659
Portable work camp		170,580		99,533		71,047
Vehicles		38,077		22,218		15,859
Oilfield equipment		154,713		64,682		90,031
Road mats		364,614		212,752		151,862
Wellhead		3,254		407		2,847
Tanks		96,085		22,148		73,937
	$	901,939	$	476,044	$	425,895

There was $52,144 of depreciation expense for the period ended March 31, 2012 (September 30, 2011 - $141,031).

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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