Capitalization of Costs Incurred in Oil and Gas Activities

3 Months Ended

Dec. 31, 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 for the three months ended December 31, 2017 and the fiscal year ended September 30, 2017:

	December 31, 2017			September 30, 2017
Unproved Oil and Gas Properties	$	21,414,428		$	21,380,452
Proved Oil and Gas Properties		–			–
Accumulated Depreciation and Depletion		(87,563	)		(84,778	)
Net Capitalized Cost	$	21,326,865		$	21,295,674

Depreciation and depletion expense for the three months ended December 31, 2017 and 2016 were $2,785 and $2,785 respectively.