Capitalization of Costs Incurred in Oil and Gas Activities

3 Months Ended

Dec. 31, 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 three months ended December 31, 2019 and the fiscal year ended September 30, 2019:

	December 31, 2019			September 30, 2019
Unproved Oil and Gas Properties	$	22,157,718		$	22,147,367
Accumulated Depreciation and Depletion		(109,852	)		(107,060	)
Net Capitalized Cost	$	22,047,866		$	22,040,307

Depreciation and depletion expense for the three months ended December 31, 2019 and 2018 were $2,785 and $2,785 respectively.