Capitalization of Costs Incurred in Oil and Gas Activities

6 Months Ended

Mar. 31, 2018

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 six months ended March 31, 2018 and the fiscal year ended September 30, 2017:

	March 31, 2018			September 30, 2017
Unproved Oil and Gas Properties	$	21,882,428		$	21,380,452
Proved Oil and Gas Properties		–			–
Accumulated Depreciation and Depletion		(88,364	)		(84,778	)
Net Capitalized Cost	$	21,794,064		$	21,295,674

Depreciation and depletion expense for the six months ended March 31, 2018 and 2017 were $3,586 and $5,571 respectively.