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Note 6 - Oil and Natural Gas Properties
12 Months Ended
Sep. 30, 2020
Notes  
Note 6 - Oil and Natural Gas Properties

Note 6 - Oil and Natural Gas Properties. Oil and natural gas properties consist of the following:

 

 

    

September 30 

 

 

2020

 

2019

Oil and natural gas properties

 

 

 

 

 

 

Proved, developed properties

 

$

333,000

 

$

333,000

Less: accumulated depreciation, depletion and impairment

 

 

(283,000)

 

 

(275,000)

Total oil and natural gas properties

 

$

50,000

 

$

58,000

 

During the fiscal year ended September 30, 2019, the company recorded an impairment provision of $24,000 on its oil and gas properties. As the Company does not own working interests, it is not liable for the cost of well abandonment or surface restoration, so no ARO liability was recorded at September 30, 2020 and 2019.