SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED) (Tables)

12 Months Ended

Sep. 30, 2023

Supplemental Information On Oil And Gas Operations

SCHEDULE OF COST INCURRED IN PRODUCING ACTIVITIES

	12 Months Ended		12 Months Ended
	September 30, 2023		September 30, 2022
Acquisition of proved properties	$	—	$	—
Acquisition of unproved properties		—		—
Development costs		2,019,639		1,676,668
Exploration costs		—		—
Total costs incurred	$	2,019,639	$	1,676,668

Results of Operations from Oil and Gas Producing Activities

	12 Months Ended			12 Months Ended
	September 30, 2023			September 30, 2022
Oil and gas revenues	$	688,827		$	815,391
Production costs		(879,471	)		(829,194	)
Exploration expenses		—			—
Depletion, depreciation and amortization		(104,798	)		(99,855	)
Impairment of oil and gas properties		—			—
Result of oil and gas producing operations before income taxes		(295,442	)		(113,658	)
Provision for income taxes		—			—
Results of oil and gas producing activities	$	(295,442	)	$	(113,658	)

SCHEDULE OF PROVED RESERVES

Our proved reserves are summarized in the table below:

	Oil (Barrels)			Natural Gas (Mcf)			BOE (Barrels)
Proved developed and undeveloped reserves:
September 30, 2021		6,199,420			3,018,350			6,702,478
Revisions		48,320			(5,613	)		47,385
Purchase of proved reserves		-			-			-
Sale reserves		-			-			-
Production		(10,670	)		(11,567	)		(12,598	)
September 30, 2022		6,237,070			3,001,170			6,737,265
Revisions		(3,588,541	)		(951,270	)		(3,747,086	)
Purchase of proved reserves		-			-			-
Sale reserves		-			-			-
Production		(11,729	)		(7,500	)		(12,979	)
September 30, 2023		2,636,800			2,042,400			2,977,200
Proved developed reserves:
September 30, 2021		587,450			411,910			656,102
September 30, 2022		1,153,870			864,770			1,297,998
September 30, 2023		1,027,100			765,300			1,154,650
Proved undeveloped reserves:
September 30, 2021		5,611,970			2,606,440			6,046,377
September 30, 2022		5,083,200			2,136,400			5,439,267
September 30, 2023		1,609,700			1,277,100			1,822,550

SCHEDULE OF NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES

	12 Months Ended
	September 30, 2023			September 30, 2022
Future cash inflows	$	211,828,000		$	589,481,000
Future production costs(1)		(40,061,000	)		(91,630,000	)
Future development costs		(17,241,000	)		(71,700,000	)
Future income tax expenses		(39,262,000	)		(113,873,000	)
Future net cash flows		115,264,000			312,278,000
10% annual discount for estimated timing of cash flows		(60,184,000	)		(167,549,000	)
Standardized measure of discounted future net cash flows at the end of the fiscal year	$	55,080,000		$	144,729,000

(1) Production costs include crude oil and natural gas operations expense, production ad valorem taxes, transportation costs and G&A expense supporting the Company’s crude oil and natural gas operations.

SCHEDULE OF AVERAGE HYDROCARBON PRICES

Average hydrocarbon prices are set forth in the table below.

	Average Price		Natural
	Crude Oil (Bbl)		Gas (Mcf)
Year ended September 30, 2021 (1)	$	55.98	$	2.95
Year ended September 30, 2022 (1)	$	91.72	$	5.79
Year ended September 30, 2023 (1)	$	78.61	$	2.23

(1) Average prices were based on 12-month unweighted arithmetic average of the first-day-of-the-month prices for the period from October through September during each respective fiscal year.

SCHEDULE OF CHANGES IN DISCOUNTED FUTURE NET CASH FLOWS

	12 Months Ended
	September 30, 2023			September 30, 2022
Standardized measure of discounted future net cash flows at the beginning of the year	$	144,729,000		$	73,269,000
Extensions, discoveries and improved recovery, less related costs		—			—
Sales of minerals in place		—			—
Purchase of minerals in place		—			—
Revisions of previous quantity estimates		(103,529,000	)		1,674,000
Net changes in prices and production costs		(52,170,000	)		88,333,000
Accretion of discount		19,862,000			10,077,000
Sales of oil produced, net of production costs		191,000			(49,000	)
Changes in future development costs		27,173,000			911,000
Changes in timing of future production		(16,145,000	)		(3,099,000	)
Net changes in income taxes		34,969,000			(26,387,000	)
Standardized measure of discounted future net cash flows at the end of the year	$	55,080,000		$	144,729,000