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SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED) (Tables)
 12 Months Ended
Sep. 30, 2014
SUPPLEMENTARY OIL AND NATURAL GAS INFORMATION (UNAUDITED)  
Summary of changes in the estimates of net interests in total proved developed reserves of oil and natural gas liquids and natural gas

 

 

 

OIL & NGL

 

GAS

 

Total

 

 

(Bbls)

 

(Mcf)

 

(Boe)

Proved reserves:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2012

 

 
1,078,000

 

 

 
11,109,000

 

 

 
2,993,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 
46,000

 

 

 
1,137,000

 

 

 
242,000

 

Extensions, discoveries and other additions

 

 
28,000

 

 

 
17,000

 

 

 
31,000

 

Less production

 

 
(229,000

)

 

 
(2,018,000

)

 

 
(577,000

)

Balance at September 30, 2013

 

 
923,000

 

 

 
10,245,000

 

 

 
2,689,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revisions of previous estimates

 

 
189,000

 

 

 
1,798,000

 

 

 
499,000

 

Extensions, discoveries and other additions

 

 
34,000

 

 

 
189,000

 

 

 
67,000

 

Less sales of reserves

 

 
(238,000

)

 

 
(840,000

)

 

 
(383,000

)

Less production

 

 
(184,000

)

 

 
(1,927,000

)

 

 
(516,000

)

Balance at September 30, 2014

 

 
724,000

 

 

 
9,465,000

 

 

 
2,356,000

 

 

Schedule of capitalized costs relating to oil and natural gas producing activities

 

 

 

September 30,

 

 

2014

 

2013

Proved properties

 

 

$
209,201,000 

 

 

 

$
237,977,000 

 

Unproved properties

 

 
501,000 

 

 

 
1,266,000 

 

Total capitalized costs

 

 
209,702,000 

 

 

 
239,243,000 

 

Accumulated depletion and depreciation

 

 
191,478,000 

 

 

 
202,400,000 

 

Net capitalized costs

 

 

$
18,224,000 

 

 

 

$
36,843,000 

 

 

Schedule of costs incurred in oil and natural gas property acquisition, exploration and development

 

 

 

Year ended September 30,

 

 

2014

 

2013

Acquisition of properties:

 

 

 

 

 

 

 

 

Unproved

 

 

$
42,000 

 

 

 

$
250,000 

 

Proved

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Exploration costs

 

 
884,000 

 

 

 
1,485,000 

 

 

 

 

 

 

 

 

 

 

Development costs

 

 
3,898,000 

 

 

 
5,771,000 

 

 

 

 

 

 

 

 

 

 

Total

 

 

$
4,824,000 

 

 

 

$
7,506,000 

 

 

Schedule of results of operations for oil and natural gas producing activities

 

 

 

Year ended September 30,

 

 

2014

 

2013

Net revenues

 

 

$
20,298,000

 

 

 

$
21,376,000

 

Production costs

 

 
8,914,000

 

 

 
9,992,000

 

Depletion

 

 
5,968,000

 

 

 
8,034,000

 

Reduction of carrying value of oil and natural gas properties

 

 

-

 

 

 
4,506,000

 

Pre-tax results of operations*

 

 
5,416,000

 

 

 
(1,156,000

)

Estimated income tax (expense) benefit

 

 
(1,557,000

)

 

 
335,000

 

Results of operations*

 

 

$
3,859,000

 

 

 

$
(821,000

)

_________________

*Before general and administrative expenses, interest expense, and foreign exchange gains and losses.

 

Schedule of standardized measure of discounted future net cash flows

 

 

 

September 30,

 

 

2014

 

2013

Future cash inflows

 

 

$
82,912,000

 

 

 

$
99,867,000

 

Future production costs

 

 
(40,156,000

)

 

 
(48,186,000

)

Future development costs

 

 
(1,966,000

)

 

 
(1,472,000

)

Future income tax expenses

 

 
(9,671,000

)

 

 
(7,800,000

)

Future net cash flows

 

 
31,119,000

 

 

 
42,409,000

 

10% annual discount for timing of cash flows

 

 
(6,972,000

)

 

 
(10,475,000

)

Standardized measure of discounted future net cash flows

 

 

$
24,147,000

 

 

 

$
31,934,000

 

 

Schedule of changes in standardized measure of discounted future net cash flows

 

 

 

 

Year ended September 30,

 

 

2014

 

2013

Beginning of year

 

 

$
31,934,000

 

 

 

$
35,290,000

 

Sales of oil and natural gas produced, net of production costs

 

 
(11,384,000

)

 

 
(11,384,000

)

Net changes in prices and production costs, net of royalties and wellhead taxes

 

 
8,670,000

 

 

 
4,275,000

 

Extensions and discoveries

 

 
2,199,000

 

 

 
831,000

 

Sales of reserves

 

 
(8,408,000

)

 

 

-

 

Revisions of previous quantity estimates

 

 
4,862,000

 

 

 
857,000

 

Net change in income taxes

 

 
(4,148,000

)

 

 
(433,000

)

Accretion of discount

 

 
2,931,000

 

 

 
3,376,000

 

Other - changes in the timing of future production and other

 

 
(237,000

)

 

 
495,000

 

Other - net change in Canadian dollar translation rate

 

 
(2,272,000

)

 

 
(1,373,000

)

Net change

 

 
(7,787,000

)

 

 
(3,356,000

)

End of year

 

 

$
24,147,000

 

 

 

$
31,934,000