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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
3 Months Ended
Dec. 31, 2012
Dec. 31, 2011
REVENUE    
Oil sales $ 111,061 $ 166,382
Natural gas sales   2,874
TOTAL REVENUE 111,061 169,256
OPERATING EXPENSES    
Production costs - oil 66,581 92,248
Production costs - natural gas 2,297 13,096
Depreciation, depletion and amortization 63,451 167,575
Accretion of asset retirement obligation 4,686 4,260
Initial recording of warrant derivative 59,200  
Gain on sales of leases and equipment (90,721)  
General and administrative 89,502 135,624
TOTAL OPERATING EXPENSES 194,996 412,803
OPERATING LOSS (83,935) (243,547)
OTHER INCOME (EXPENSE)    
Interest expense (33,296) (32,233)
Loss on extinguishment and conversion of debt   71,383
Gain on change in fair value of conversion option derivative 44,232 196,197
Gain on change in fair value of warrant derivatives 80,328 198,480
Amortization of discount on debentures   (144,814)
TOTAL OTHER INCOME (EXPENSE) 91,264 289,013
INCOME BEFORE INCOME TAX 7,329 45,466
NET INCOME 7,329 45,466
Basic and diluted weighted average number of shares outstanding $ 60,759,178 $ 59,065,401