Capitalization of Costs Incurred in Oil and Gas Activities

12 Months Ended

Sep. 30, 2017

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, 2017 and September 30, 2016:

	September 30,  2017			September 30,  2016
Unproved Oil and Gas Properties	$	21,380,452		$	21,238,052
Proved Oil and Gas Properties		–			–
Accumulated Depreciation and Depletion		(84,778	)		(73,637	)
Net Capitalized Cost	$	21,295,674		$	21,164,415

Depreciation and depletion expenses for the years ended September 30, 2017 and 2016 were $11,141 and $11,274 respectively.