Note 6 - Reclamation, Restoration, and Dismantlement

12 Months Ended

Sep. 30, 2013

Notes

Note 6 - Reclamation, Restoration, and Dismantlement

Note 6 - Reclamation, Restoration, and Dismantlement (RR&D). The Company accounts for its RR&D costs in accordance with ASC Topic 410 "Asset Retirement and Environmental Obligations." ASC 410 addresses obligations associated with the retirement of tangible, long lived assets and the associated asset retirement costs. This statement requires the Company to recognize a liability for the fair value of its plugging and abandonment liability (excluding salvage value) with the associated costs included as part of the Company's oil and gas properties balance. For the years ended September 30, 2013 and 2012, the plugging and abandonment liability was not material to the financial statements.