Capitalization of Costs Incurred in Oil and Gas Activities

12 Months Ended

Sep. 30, 2016

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, 2016 and September 30, 2015:

	September 30,  2016			September 30,  2015
Unproved Oil and Gas Properties	$	21,238,052		$	21,044,015
Proved Oil and Gas Properties		–			–
Accumulated Depreciation and Depletion		(73,637	)		(62,363	)
Net Capitalized Cost	$	21,164,415		$	20,981,652

Depreciation and depletion expenses for the years ended September 30, 2016 and 2015 were $11,274 and $10,549 respectively.