Capitalization of Costs Incurred in Oil and Gas Activities

3 Months Ended

Dec. 31, 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 for the three months ended December 31, 2015 and the fiscal year ended September 30, 2015:

	December 31,  2015			September 30, 2015
Unproved Oil and Gas Properties	$	21,055,090		$	21,044,015
Proved Oil and Gas Properties		–			–
Accumulated Depreciation and Depletion		(65,216	)		(62,363	)
Net Capitalized Cost	$	20,989,874		$	20,981,652

Depreciation and depletion expense for the three months ended December 31, 2015 and 2014 were $2,853 and $3,136 respectively.