ACQUISITION OF OIL AND NATURAL GAS PROPERTIES (Tables)

6 Months Ended

Mar. 31, 2015

Extractive Industries [Abstract]

Summary of allocation of purchase price to the assets acquired and liabilities assumed

The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed in the transaction as of the acquisition date. See Note 13 for further information regarding the fair value measurement inputs.

Property and equipment	$	751,000
Asset retirement obligation	(225,000		)
Net identifiable assets acquired	$	526,000