Capitalization of Costs Incurred in Oil and Gas Activities

3 Months Ended

Dec. 31, 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 for the three months ended December 31, 2016 and the fiscal year ended September 30, 2016:

	December 31,  2016			September 30, 2016
Unproved Oil and Gas Properties	$	21,256,170		$	21,238,052
Proved Oil and Gas Properties		–			–
Accumulated Depreciation and Depletion		(76,422	)		(73,637	)
Net Capitalized Cost	$	21,179,747		$	21,164,415

Depreciation and depletion expense for the three months ended December 31, 2016 and 2015 were $2,785 and $2,853 respectively.