Capitalization of Costs Incurred in Oil and Gas Activities

9 Months Ended

Jun. 30, 2020

Capitalization Of Cost Incurred In Oil And Gas Activities [Abstract]

CAPITALIZATION OF COSTS INCURRED IN OIL AND GAS ACTIVITIES

5. 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, 2020 and the fiscal year ended September 30, 2019:

	June 30, 2020			September 30, 2019
Unproved Oil and Gas Properties	$	22,168,513		$	22,147,367
Accumulated Depreciation and Depletion		(115,434	)		(107,060	)
Net Capitalized Cost	$	22,053,079		$	22,040,307

Depreciation and depletion expense for the nine months ended June 30, 2020 and 2019 were $8,356 and $8,356 respectively.