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SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) (Tables)
12 Months Ended
Sep. 30, 2012
SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED)  
Summary of changes in the estimates of net interests in total proved developed reserves of oil and natural gas liquids and natural gas

 

 

 

OIL & NGL

 

GAS

 

Total

 

 

 

(Bbls)

 

(Mcf)

 

(Boe)

 

Proved reserves:

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2010

 

 

1,272,000

 

 

 

17,867,000

 

 

 

4,353,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 

42,000

 

 

 

(298,000)

 

 

 

(10,000)

 

 

Extensions, discoveries and other additions

 

 

120,000

 

 

 

324,000

 

 

 

176,000

 

 

Less production

 

 

(250,000

)

 

 

(2,950,000

)

 

 

(759,000

)

 

Balance at September 30, 2011

 

 

1,184,000

 

 

 

14,943,000

 

 

 

3,760,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 

97,000

 

 

 

(1,121,000

)

 

 

(96,000

)

 

Extensions, discoveries and other additions

 

 

56,000

 

 

 

40,000

 

 

 

63,000

 

 

Less production

 

 

(259,000

)

 

 

(2,753,000

)

 

 

(734,000

)

 

Balance at September 30, 2012

 

 

1,078,000

 

 

 

11,109,000

 

 

 

2,993,000

 

 

 

Schedule of capitalized costs relating to oil and natural gas producing activities

 

 

 

September 30,

 

 

 

2012

 

 

 

2011

 

 

Proved properties

 

 

$

238,788,000

 

 

 

$

220,362,000

 

 

Unproved properties

 

 

3,645,000

 

 

 

4,490,000

 

 

Total capitalized costs

 

 

242,433,000

 

 

 

224,852,000

 

 

Accumulated depletion and depreciation

 

 

198,768,000

 

 

 

175,715,000

 

 

Net capitalized costs

 

 

$

43,665,000

 

 

 

$

49,137,000

 

 

 

Schedule of costs incurred in oil and natural gas property acquisition, exploration and development

 

 

 

Year ended September 30,

 

 

 

2012

 

 

 

2011

 

Acquisition of properties:

 

 

 

 

 

 

 

Unproved

 

$

496,000

 

 

 

$

1,455,000

 

Proved

 

-       

 

 

 

-       

 

 

 

 

 

 

 

 

 

Exploration costs

 

1,778,000

 

 

 

2,253,000

 

 

 

 

 

 

 

 

 

Development costs

 

2,641,000

 

 

 

9,591,000

 

 

 

 

 

 

 

 

 

Total

 

$

4,915,000

 

 

 

$

13,299,000

 

 

Schedule of results of operations for oil and natural gas producing activities

 

 

 

Year ended September 30,

 

 

 

2012

 

 

 

2011

 

Net revenues

 

$

24,610,000

 

 

 

$

28,804,000

 

Production costs

 

10,445,000

 

 

 

11,404,000

 

Depletion

 

10,367,000

 

 

 

9,469,000

 

Reduction of carrying value of oil and natural gas properties

 

2,551,000

 

 

 

-       

 

Pre-tax results of operations*

 

1,247,000

 

 

 

7,931,000

 

Estimated income tax expense

 

(387,000

)

 

 

(2,459,000

)

Results of operations*

 

$

860,000

 

 

 

$

5,472,000

 

 

*   Before general and administrative expenses, interest expense, and foreign exchange gains and losses.

 

Schedule of standardized measure of discounted future net cash flows

 

 

 

September 30,

 

 

 

2012

 

 

 

2011

 

Future cash inflows

 

$

109,253,000

 

 

 

$

142,198,000

 

Future production costs

 

(51,603,000

)

 

 

(61,271,000

)

Future development costs

 

(2,044,000

)

 

 

(2,428,000

)

Future income tax expenses

 

(8,260,000

)

 

 

(13,839,000

)

Future net cash flows

 

47,346,000

 

 

 

64,660,000

 

10% annual discount for timing of cash flows

 

(12,056,000

)

 

 

(16,101,000

)

Standardized measure of discounted future net cash flows

 

$

35,290,000

 

 

 

$

48,559,000

 

 

Schedule of changes in standardized measure of discounted future net cash flows

 

 

 

Year ended September 30,

 

 

 

2012

 

 

 

2011

 

Beginning of year

 

$

48,559,000

 

 

 

$

49,626,000

 

Sales of oil and natural gas produced, net of production costs

 

(14,165,000

)

 

 

(17,400,000

)

Net changes in prices and production costs, net of royalties and wellhead taxes

 

(17,851,000

)

 

 

2,461,000

 

Extensions and discoveries

 

2,312,000

 

 

 

4,407,000

 

Revisions of previous quantity estimates

 

4,084,000

 

 

 

2,030,000

 

Net change in income taxes

 

5,171,000

 

 

 

479,000

 

Accretion of discount

 

5,129,000

 

 

 

4,919,000

 

Other - changes in the timing of future production and other

 

(307,000

)

 

 

1,578,000

 

Other - net change in Canadian dollar translation rate

 

2,358,000

 

 

 

459,000

 

Net change

 

(13,269,000

)

 

 

(1,067,000

)

End of year

 

$

35,290,000

 

 

 

$

48,559,000