REVENUE

6 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

3. REVENUE

Revenue from contracts with customers is presented in “Oil and gas sales” and “Other operating income” on the Consolidated Statements of Operations. Other operating income consists of fees earned for providing operator services on a customer’s oil and gas assets. In January 2025, the Company entered into an agreement to operate certain oil and gas wells in the Permian Basin for a 12-month term in exchange for a monthly operating fee of up to $75,000 per month based on production revenue generated from these wells. The fee is calculated each month and deducted from the revenue received in the following month.

As of March 31, 2025 and September 30, 2024, receivables from contracts with customers, included in trade and other receivables, were $261,377 and $26,873, respectively.

The following tables present our revenue from contracts with customers disaggregated by product type and geographic areas.

Three months ended March 31, 2025	Texas		New Mexico		Total
Crude oil	$	122,827	$	-	$	122,827
Natural gas		-		-		-
Total oil and gas sales		122,827		-		122,827
Other operating income		170,000		-		170,000
Revenue from contracts with customers	$	292,827	$	-	$	292,827

Three months ended March 31, 2024	Texas		New Mexico		Total
Crude oil	$	10,233	$	17,582	$	27,815
Other operating income		-		-		-
Revenue from contracts with customers	$	10,233	$	17,582	$	27,815

Six months ended March 31, 2025	Texas		New Mexico		Total
Crude oil	$	246,042	$	-	$	246,042
Natural gas		-		-		-
Total oil and gas sales		246,042		-		246,042
Other operating income		170,000		-		170,000
Revenue from contracts with customers	$	416,042	$	-	$	416,042

Six months ended March 31, 2024	Texas		New Mexico		Total
Crude oil	$	39,857	$	35,609	$	75,466
Other operating income		-		-		-
Revenue from contracts with customers	$	39,857	$	35,609	$	75,466