Capitalization of Costs Incurred in Oil and Gas Activities

12 Months Ended

Sep. 30, 2015

Capitalization of Costs Incurred in Oil and Gas Activities [Abstract]

CAPITALIZATION OF COSTS INCURRED IN OIL AND GAS ACTIVITIES

4. CAPITALIZATION OF COSTS INCURRED IN OIL AND GAS ACTIVITIES

The following table illustrates capitalized costs relating to oil producing activities as of September 30, 2015 and September 30, 2014:

	September 30,  2015			September 30,  2014
Unproved Oil and Gas Properties	$	21,044,015		$	20,903,872
Proved Oil and Gas Properties		–			4,568
Accumulated Depreciation and Depletion		(62,363	)		(51,814	)
Net Capitalized Cost	$	20,981,652		$	20,856,626

Depreciation and depletion expense for the years ended September 30, 2015 and 2014 were $10,549 and $10,067 respectively.