Supplemental Financial Data - Oil and Gas Producing Activites

12 Months Ended

Sep. 30, 2011

Extractive Industries

Oil and Gas Exploration and Production Industries Disclosures [Text Block]

Note 7 - Supplemental Financial Data - Oil and Gas Producing Activities (Unaudited). The Company's operations are confined to the continental United States, and all of the Company's reserves are proved developed. Oil prices used are the average of the NYMEX settlement price for the spot month on the first day of each month of 2011, corrected to received price using a price differential. Income tax expense is not reflected in the tables below because of the anticipated utilization of net operating loss carryforwards and depletion carryforwards. The estimation of reserves is complex and subjective, and reserve estimates tend to fluctuate in light of new production data.

I. Capitalized Costs Relating to Oil and Gas Producing Activities

	September 30, 2011
Proved properties	$	350,000
Accumulated depreciation, depletion, amortization and valuation allowance		(105,000	)
Net capitalized cost	$	245,000

II. Estimated Quantities of Proved Oil and Gas Reserves

	Oil in Barrels			Gas in MCFs
Balance at September 30, 2010		14,000			-
Revisions of previous estimates		(600	)		-
Production		(2,000	)		-
Balance at September 30, 2011		11,400			-

III. Present Value of Estimated Future Net Revenue

	At September 30
	2011			2010
Estimated future revenue	$	837,000			777,000
Estimated future expenditures		(90,000	)		-
Estimated future net revenue		747,000			777,000
10% annual discount of estimated future net revenue		(345,000	)		(409,000	)
Present value of estimated future net revenue	$	402,000			368,000

IV. Summary of Changes in Present Value of Estimated Future Net Revenue

	Year ended September 30
	2011			2010
Present value of estimated future net revenue, beginning of year	$	368,000			-
Sales, net of production costs		(109,000	)		(87,000	)
Purchases of minerals in place		-			290,000
Net change in prices and cost of future production		81,000			(4,000	)
Revisions of quantity estimates		(9,000	)		58,000
Accretion of discount		37,000			-
Change in production rates and other		34,000			111,000
Present value of estimated future net revenue, end of year	$	402,000			368,000