PROPERTY AND EQUIPMENT

9 Months Ended

12 Months Ended

Jun. 30, 2023

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

	June 30, 2023			September 30, 2022
Oil and natural gas properties, at cost	$	10,473,886		$	8,029,234
Construction in progress		-			460,306
Less: accumulated depletion		(267,941	)		(184,658	)
Oil and natural gas properties, net		10,205,945			8,304,882
Other property and equipment, at cost		205,315			127,542
Less: accumulated depreciation		(42,824	)		(5,648	)
Other property and equipment, net		162,491			121,894
Property and equipment, net	$	10,368,436		$	8,426,776

Depletion and depreciation expense was $120,459 and $161,988 for the nine month periods ended June 30, 2023 and June 30, 2022, respectively. Depletion and depreciation expense for the three month periods ended June 30, 2023 and June 30, 2022 was $37,286 and $73,093, respectively.

6. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

	September 30, 2022			September 30, 2021
Oil and natural gas properties, at cost	$	8,029,234		$	6,723,778
Construction in progress		460,306			-
Less: accumulated depletion		(184,658	)		(84,803	)
Oil and natural gas properties, net		8,304,882			6,638,975
Other property and equipment, at cost		127,542			-
Less: accumulated depreciation		(5,648	)		-
Other property and equipment, net		121,894			-
Property and equipment, net	$	8,426,776		$	6,638,975

Depletion and depreciation expense was $105,503 and $60,479 for the years ended September 30, 2022 and September 30, 2021, respectively.