Capitalization of Costs Incurred in Oil and Gas Activities

9 Months Ended

Jun. 30, 2019

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 nine months ended June 30, 2019 and the fiscal year ended September 30, 2018:

	June 30, 2019			September 30, 2018
Unproved Oil and Gas Properties	$	22,140,305		$	22,071,787
Accumulated Depreciation and Depletion		(104,275	)		(95,919	)
Net Capitalized Cost	$	22,036,030		$	21,975,868

Depreciation and depletion expense for the nine months ended June 30, 2019 and 2018 were $8,356 and $8,356 respectively.