Altex Industries (ALTX) 10-K 1 Dec 14 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Sep. 30, 2014	Nov. 28, 2014	Mar. 31, 2014
Document and Entity Information	'	'	'
Entity Registrant Name	'ALTEX INDUSTRIES INC	'	'
Document Type	'10-K	'	'
Document Period End Date	30-Sep-14	'	'
Amendment Flag	'false	'	'
Entity Central Index Key	'0000775057	'	'
Current Fiscal Year End Date	'--09-30	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'FY	'	'
Entity Common Stock, Shares Outstanding	'	12,975,321	'
Entity Public Float	'	'	$577,000

Consolidated_Balance_Sheet

Consolidated Balance Sheet (USD $)	Sep. 30, 2014	Sep. 30, 2013
Consolidated Balance Sheet	'	'
Cash and cash equivalents	$2,699,000	$2,785,000
Accounts receivable	9,000	13,000
Other	16,000	15,000
Total current assets	2,724,000	2,813,000
Proved oil and gas properties (successful efforts method) (Notes 6 and 7)	347,000	347,000
Other	17,000	17,000
Total property and equipment, at cost	364,000	364,000
Less accumulated depreciation, depletion, and amortization	-195,000	-176,000
Net property and equipment	169,000	188,000
Other assets	2,000	2,000
Total assets	2,895,000	3,003,000
Accounts payable	7,000	2,000
Other accrued expenses	620,000	399,000
Total current liabilities	627,000	401,000
Commitments and Contingencies (Notes 3, 5 and 6)	'	'
Preferred stock, $.01 par value. Authorized 5,000,000 shares, none issued	'	'
Common stock, $.01 par value. Authorized 50,000,000 shares; issued and outstanding, 12,975,321 and 13,229,888, respectively	130,000	132,000
Additional paid-in capital	13,854,000	13,881,000
Accumulated deficit	-11,716,000	-11,411,000
Total stockholders' equity	2,268,000	2,602,000
Total stockholders' equity and liabilities	$2,895,000	$3,003,000

Consolidated_Balance_Sheet_Par

Consolidated Balance Sheet Parenthetical (USD $)	Sep. 30, 2014	Sep. 30, 2013
Consolidated Balance Sheet Parenthetical	'	'
Preferred stock par value	$0.01	$0.01
Preferred stock shares authorized	5,000,000	5,000,000
Preferred stock shares issued	'	'
Common stock par value	$0.01	$0.01
Common stock shares authorized	50,000,000	50,000,000
Common stock shares issued	12,975,321	13,229,888
Common stock shares outstanding	12,975,321	13,229,888

Consolidated_Statement_of_Oper

Consolidated Statement of Operations (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statement of Operations	'	'
Oil and gas sales	$93,000	$97,000
Other revenue	7,000	4,000
Total revenue	100,000	101,000
Lease operating	3,000	6,000
Production taxes	9,000	9,000
General and administrative	391,000	359,000
Depreciation, depletion, and amortization	19,000	21,000
Total costs and expenses	422,000	395,000
Interest income	17,000	18,000
Net loss	($305,000)	($276,000)
Loss per share	($0.02)	($0.02)
Weighted average shares outstanding	13,221,519	13,287,382

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (USD $)	Common Stock	Additional paid-in capital	Accumulated deficit	Treasury stock	Total
Balance at Sep. 30, 2012	$133,000	$13,887,000	($11,135,000)	'	$2,885,000
Balance - shares at Sep. 30, 2012	13,288,343	'	'	'	13,288,343
Net loss	'	'	-276,000	'	-276,000
Acquisition of treasury stock	'	'	'	-7,000	7,000
Retirement of treasury stock	-1,000	-6,000	'	7,000	'
Retirement of treasury stock - shares	-58,455	'	'	'	-58,455
Balance at Sep. 30, 2013	132,000	13,881,000	-11,411,000	'	2,602,000
Balance - shares at Sep. 30, 2013	13,229,888	'	'	'	13,229,888
Net loss	'	'	-305,000	'	-305,000
Acquisition of treasury stock	'	'	'	-29,000	29,000
Retirement of treasury stock	-2,000	-27,000	'	29,000	'
Retirement of treasury stock - shares	-254,567	'	'	'	-254,567
Balance at Sep. 30, 2014	$130,000	$13,854,000	($11,716,000)	'	$2,268,000
Balance - shares at Sep. 30, 2014	12,975,321	'	'	'	12,975,321

Consolidated_Statement_of_Stoc1

Consolidated Statement of Stockholders' Equity Parenthetical (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statement of Stockholders' Equity Parenthetical	'	'
Treasury stock shares acquired	254,567	58,455
Treasury stock price per share	$0.12	$0.11

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Consolidated Statements of Cash Flows	'	'
Net loss	($305,000)	($276,000)
Depreciation, depletion, and amortization	19,000	21,000
Decrease in accounts receivable	4,000	'
Increase in other current assets	-1,000	1,000
Increase (decrease) in accounts payable	5,000	-10,000
Increase in other accrued expenses	221,000	204,000
Net cash used in operating activities	-57,000	-60,000
Acquisition of treasury stock	-29,000	-7,000
Net cash flows from financing activities	-29,000	-7,000
Net increase (decrease) in cash and cash equivalents	-86,000	-67,000
Cash and cash equivalents at beginning of year	2,785,000	2,852,000
Cash and cash equivalents at end of year	$2,699,000	$2,785,000

Note_1_Nature_of_Operations_an

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.	12 Months Ended
	Sep. 30, 2014
Notes	'
Note 1 - Nature of Operations and Summary of Significant Accounting Policies.	'
	Note 1 - Nature of Operations and Summary of Significant Accounting Policies.
	Nature of Operations: Altex Industries, Inc., through its wholly-owned subsidiary, jointly referred to as “the Company,” owns interests, including working interests, in productive oil and gas properties located in Utah and Wyoming. The Company’s revenues are generated from sales of oil and gas production. The Company’s operations are significantly affected by changes in oil and gas prices.
	Principles of Consolidation: The consolidated financial statements include the accounts of Altex Industries, Inc. and its wholly-owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.
	Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Property and Equipment: The Company follows the successful efforts method of accounting for oil and gas operations, under which exploration costs, including geological and geophysical costs, annual delay rentals, and exploratory dry hole costs, are charged to expense as incurred. Costs to acquire unproved properties, to drill and to equip exploratory wells that find proved reserves, and to drill and to equip development wells are capitalized. Capitalized costs relating to proved oil and gas properties are depleted on the units of product­ion method based on estimated quantities of proved reserves and estimated RR&D (Note 6). Upon the sale or retirement of property and equipment, the cost thereof and the accumulated depreciation, depletion, and valuation allowance are removed from the accounts, and the resulting gain or loss is credited or charged to operations. Actual RR&D expense in excess of estimated RR&D expense is charged to operations.
	Impairment of Long-Lived Assets: The Company assesses long-lived assets for impairment when circumstances indicate that the carrying value of such assets may not be recoverable. This review compares the asset’s carrying value with management’s best estimate of the asset’s expected future undiscounted cash flows without interest costs. If the expected future cash flows exceed the carrying value, no impairment is recognized. If the carrying value exceeds the expected future cash flows, an impairment equal to the excess of the carrying value over the estimated fair value of the asset is recognized. No such impairment may be restored in the future. The Company’s proved oil and gas properties are assessed for impairment on an individual field basis.
	Cash Equivalents and Fair Values of Financial Instruments: For purposes of the statement of cash flows, the Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. The carrying amount reported on the balance sheet for cash and cash equivalents approximates its fair value.
	Income Taxes: The Company follows the asset and liability method of accounting for deferred income taxes. The asset and liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between financial accounting and tax bases of assets and liabilities. The Company reports uncertainty in income taxes according to GAAP. There was no increase in liabilities for unrecognized tax benefits during the current year. The Company recognizes accrued interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expense. There was neither interest nor penalty at September 30, 2014.
	Earnings Per Share: Earnings per share of common stock is based upon the weighted average number of shares of common stock outstanding during the year.
	Concentrations of credit risk: The Company maintains significant amounts of cash and sometimes permits cash balances in national banking institutions to exceed FDIC limits.
	Revenue recognition: Substantially all of the Company’s revenue is from sales of oil and gas production. Revenue from oil and gas production is recognized based on sales or delivery date.
	Interest income: Interest income is generated from cash deposit and is recognized when earned.
	Recent Accounting Pronouncements: There are no recent accounting pronouncements that have a material impact on the consolidated financial statements.

Note_2_Income_Tax_Disclosure

Note 2 - Income Tax Disclosure	12 Months Ended
	Sep. 30, 2014
Notes	'
Note 2 - Income Tax Disclosure	'
	Note 2 - Income Taxes. At September 30, 2014, the Company had a depletion carryforward of $860,000 and a net operating loss carryforward ("NOL") of $1,852,000, which will expire in the years 2027 through 2034. The approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax assets at September 30, 2014, computed in accordance with the Income Tax Topic (Topic 740) of the Codification, is as follows:
	Deferred Tax Assets		2014			2013
	Depletion carryforward	$	302,000		$	301,000
	Net operating loss carryforward		648,000			615,000
	Accrued shareholder salary		205,000			132,000
	Total Net Deferred Tax Assets		1,155,000			1,048,000
	Less valuation allowance		-1,155,000			-1,048,000
	Net Deferred Tax Asset	$	-		$	-
	A valuation allowance has been provided because of the uncertainty of future realization. Income tax expense is different from amounts computed by applying the statutory Federal income tax rate for the following reasons:
			2014	2013
	Tax benefit at 35% of net earnings	$	-106,000	-97,000
	State income tax, net of Federal benefit		-	-
	Change in valuation allowance for net deferred tax assets		106,000	97,000
	Income tax expense	$	-	-
	As of September 30, 2014, the Company has no unrecognized tax benefit as a result of uncertain tax positions. As of September 30, 2014, the Company’s tax years that remain subject to examination are 2011 - 2014 (Federal jurisdiction) and 2010 - 2014 (state jurisdictions).

Note_3_Related_Party_Transacti

Note 3 - Related Party Transactions Disclosure	12 Months Ended
	Sep. 30, 2014
Notes	'
Note 3 - Related Party Transactions Disclosure	'
	Note 3 - Related Party Transactions. Effective October 1, 2012, the Company entered into a five year employment agreement with its president which provides for a base salary of $200,000 annually, plus escalations of not less than 3% annually. The agreement contains provisions providing for payments to the president in the event of his disability or termination of his employment. The agreement also provides that he will receive an annual bonus equal to no less than 20% of the Company’s earnings before income tax, payable, at his election, in cash or common stock of the Company at then fair market value. At September 30, 2014, other accrued expense includes $586,000 in salary payable to the Company’s president that the president has elected to defer.
	In 2014 and 2013, the Company expended $29,000 and $7,000 to acquire 254,567 and 58,455 shares of common stock, respectively.

Note_4_Major_Customers

Note 4 - Major Customers	12 Months Ended
	Sep. 30, 2014
Notes	'
Note 4 - Major Customers	'
	Note 4 - Major Customers. In 2014 the Company had two customers who individually accounted for 10% or more of the Company's oil and gas sales and who, in aggregate, accounted for 78% of oil and gas sales. In 2014 the two customers individually accounted for 63% and 15% of oil and gas sales. In 2013 the Company had three customers who individually accounted for 10% or more of the Company's oil and gas sales and who, in aggregate, accounted for 85% of oil and gas sales. In 2013 the three customers individually accounted for 49%, 19% and 17% of oil and gas sales

Note_5_Leases

Note 5 - Leases	12 Months Ended
	Sep. 30, 2014
Notes	'
Note 5 - Leases	'
	Note 5 - Leases. The Company rents office space under a cancellable operating lease that expires April 30, 2022. The Company may cancel upon 30 days written notice and the payment of a termination fee of $3,000. In 2014 and 2013 the Company incurred rent expense of $13,000.

Note_6_Reclamation_Restoration

Note 6 - Reclamation, Restoration, and Dismantlement	12 Months Ended
	Sep. 30, 2014
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, 2014 and 2013, the plugging and abandonment liability was not material to the financial statements.

Note_7_Oil_and_Gas_Exploration

Note 7 - Oil and Gas Exploration and Production Industries Disclosures	12 Months Ended
	Sep. 30, 2014
Notes	'
Note 7 - Oil and Gas Exploration and Production Industries Disclosures	'
	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 2014, adjusted for the Company’s 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
			30-Sep-14
	Proved properties		$                347,000
	Accumulated depreciation, depletion, amortization and valuation allowance		(178,000)
	Net capitalized cost		$                169,000
	II. Estimated Quantities of Proved Oil and Gas Reserves
		Oil in Barrels	Gas in MCFs
	Balance at September 30, 2012	5,200	-
	Revisions of previous estimates	3,200	1,000
	Production	(800)	(1,000)
	Balance at September 30, 2013	7,600	-
	Revisions of previous estimates	(100)	2,000
	Production	(800)	(2,000)
	Balance at September 30, 2014	6,700	-
	III. Present Value of Estimated Future Net Revenue
		At September 30
		2014	2013
	Estimated future revenue	$ 503,000	$ 521,000
	Estimated future expenditures	(54,000)	(56,000)
	Estimated future net revenue	449,000	465,000
	10% annual discount of estimated future net revenue	(193,000)	(203,000)
	Present value of estimated future net revenue	$ 256,000	$ 262,000
	IV. Summary of Changes in Present Value of Estimated Future Net Revenue
		Year ended September 30
		2014	2013
	Present value of estimated future net revenue, beginning of year	$ 262,000	$ 213,000
	Sales, net of production costs	(81,000)	(82,000)
	Net change in prices and cost of future production	31,000	(9,000)
	Revisions of quantity estimates	4,000	138,000
	Accretion of discount	26,000	21,000
	Change in production rates and other	14,000	(19,000)
	Present value of estimated future net revenue, end of year	$ 256,000	$ 262,000

Note_1_Nature_of_Operations_an1

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Nature of Operations (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Nature of Operations	'
	Nature of Operations: Altex Industries, Inc., through its wholly-owned subsidiary, jointly referred to as “the Company,” owns interests, including working interests, in productive oil and gas properties located in Utah and Wyoming. The Company’s revenues are generated from sales of oil and gas production. The Company’s operations are significantly affected by changes in oil and gas prices.

Note_1_Nature_of_Operations_an2

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Principles of Consolidation (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Principles of Consolidation	'
	Principles of Consolidation: The consolidated financial statements include the accounts of Altex Industries, Inc. and its wholly-owned subsidiary. All intercompany balances and transactions have been eliminated in consolidation.

Note_1_Nature_of_Operations_an3

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Use of Estimates, Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Use of Estimates, Policy	'
	Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note_1_Nature_of_Operations_an4

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Property, Plant and Equipment, Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Property, Plant and Equipment, Policy	'
	Property and Equipment: The Company follows the successful efforts method of accounting for oil and gas operations, under which exploration costs, including geological and geophysical costs, annual delay rentals, and exploratory dry hole costs, are charged to expense as incurred. Costs to acquire unproved properties, to drill and to equip exploratory wells that find proved reserves, and to drill and to equip development wells are capitalized. Capitalized costs relating to proved oil and gas properties are depleted on the units of product­ion method based on estimated quantities of proved reserves and estimated RR&D (Note 6). Upon the sale or retirement of property and equipment, the cost thereof and the accumulated depreciation, depletion, and valuation allowance are removed from the accounts, and the resulting gain or loss is credited or charged to operations. Actual RR&D expense in excess of estimated RR&D expense is charged to operations.

Note_1_Nature_of_Operations_an5

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Impairment or Disposal of Long-Lived Assets, Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Impairment or Disposal of Long-Lived Assets, Policy	'
	Impairment of Long-Lived Assets: The Company assesses long-lived assets for impairment when circumstances indicate that the carrying value of such assets may not be recoverable. This review compares the asset’s carrying value with management’s best estimate of the asset’s expected future undiscounted cash flows without interest costs. If the expected future cash flows exceed the carrying value, no impairment is recognized. If the carrying value exceeds the expected future cash flows, an impairment equal to the excess of the carrying value over the estimated fair value of the asset is recognized. No such impairment may be restored in the future. The Company’s proved oil and gas properties are assessed for impairment on an individual field basis.

Note_1_Nature_of_Operations_an6

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Cash and Cash Equivalents, Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Cash and Cash Equivalents, Policy	'
	Cash Equivalents and Fair Values of Financial Instruments: For purposes of the statement of cash flows, the Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. The carrying amount reported on the balance sheet for cash and cash equivalents approximates its fair value.

Note_1_Nature_of_Operations_an7

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Regulatory Income Taxes, Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Regulatory Income Taxes, Policy	'
	Income Taxes: The Company follows the asset and liability method of accounting for deferred income taxes. The asset and liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between financial accounting and tax bases of assets and liabilities. The Company reports uncertainty in income taxes according to GAAP. There was no increase in liabilities for unrecognized tax benefits during the current year. The Company recognizes accrued interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expense. There was neither interest nor penalty at September 30, 2014.

Note_1_Nature_of_Operations_an8

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Earnings Per Share Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Earnings Per Share Policy	'
	Earnings Per Share: Earnings per share of common stock is based upon the weighted average number of shares of common stock outstanding during the year.

Note_1_Nature_of_Operations_an9

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Concentrations of Credit Risk Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Concentrations of Credit Risk Policy	'
	Concentrations of credit risk: The Company maintains significant amounts of cash and sometimes permits cash balances in national banking institutions to exceed FDIC limits.

Recovered_Sheet1

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Revenue Recognition Policy (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Revenue Recognition Policy	'
	Revenue recognition: Substantially all of the Company’s revenue is from sales of oil and gas production. Revenue from oil and gas production is recognized based on sales or delivery date.

Recovered_Sheet2

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Interest Income (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Interest Income	'
	Interest income: Interest income is generated from cash deposit and is recognized when earned.

Recovered_Sheet3

Note 1 - Nature of Operations and Summary of Significant Accounting Policies.: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Sep. 30, 2014
Policies	'
Recent Accounting Pronouncements:	'
	Recent Accounting Pronouncements: There are no recent accounting pronouncements that have a material impact on the consolidated financial statements.

Note_2_Income_Tax_Disclosure_S

Note 2 - Income Tax Disclosure: Schedule of Deferred Tax Assets (Tables)	12 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Deferred Tax Assets	'
	Deferred Tax Assets		2014		2013
	Depletion carryforward	$	302,000	$	301,000
	Net operating loss carryforward		648,000		615,000
	Accrued shareholder salary		205,000		132,000
	Total Net Deferred Tax Assets		1,155,000		1,048,000
	Less valuation allowance		-1,155,000		-1,048,000
	Net Deferred Tax Asset	$	-	$	-

Note_2_Income_Tax_Disclosure_S1

Note 2 - Income Tax Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Effective Income Tax Rate Reconciliation	'
			2014	2013
	Tax benefit at 35% of net earnings	$	-106,000	-97,000
	State income tax, net of Federal benefit		-	-
	Change in valuation allowance for net deferred tax assets		106,000	97,000
	Income tax expense	$	-	-

Note_7_Oil_and_Gas_Exploration1

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure (Tables)	12 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure	'
		30-Sep-14
	Proved properties	$                347,000
	Accumulated depreciation, depletion, amortization and valuation allowance	(178,000)
	Net capitalized cost	$                169,000

Note_7_Oil_and_Gas_Exploration2

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Tables)	12 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities	'
		Oil in Barrels	Gas in MCFs
	Balance at September 30, 2012	5,200	-
	Revisions of previous estimates	3,200	1,000
	Production	(800)	(1,000)
	Balance at September 30, 2013	7,600	-
	Revisions of previous estimates	(100)	2,000
	Production	(800)	(2,000)
	Balance at September 30, 2014	6,700	-

Note_7_Oil_and_Gas_Exploration3

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Present Value of Estimated Future Net Revenue (Tables)	12 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Present Value of Estimated Future Net Revenue	'
		At September 30
		2014	2013
	Estimated future revenue	$ 503,000	$ 521,000
	Estimated future expenditures	(54,000)	(56,000)
	Estimated future net revenue	449,000	465,000
	10% annual discount of estimated future net revenue	(193,000)	(203,000)
	Present value of estimated future net revenue	$ 256,000	$ 262,000

Note_7_Oil_and_Gas_Exploration4

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Summary of Changes Present Value of Estimated Future Net Revenue (Tables)	12 Months Ended
	Sep. 30, 2014
Tables/Schedules	'
Summary of Changes Present Value of Estimated Future Net Revenue	'
		Year ended September 30
		2014	2013
	Present value of estimated future net revenue, beginning of year	$ 262,000	$ 213,000
	Sales, net of production costs	(81,000)	(82,000)
	Net change in prices and cost of future production	31,000	(9,000)
	Revisions of quantity estimates	4,000	138,000
	Accretion of discount	26,000	21,000
	Change in production rates and other	14,000	(19,000)
	Present value of estimated future net revenue, end of year	$ 256,000	$ 262,000

Note_2_Income_Tax_Disclosure_D

Note 2 - Income Tax Disclosure (Details) (USD $)	12 Months Ended
	Sep. 30, 2014
Details	'
Depletion	$860,000
Operating Loss Carryforwards	$1,852,000
Operating Loss Carryforwards, Expiration Dates	'2027 through 2034

Note_2_Income_Tax_Disclosure_S2

Note 2 - Income Tax Disclosure: Schedule of Deferred Tax Assets (Details) (USD $)	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Deferred Tax Assets, Other	$302,000	$301,000
Deferred Tax Assets, Operating Loss Carryforwards	648,000	615,000
Accrued Shareholder Salary	205,000	132,000
Deferred Tax Assets, Net of Valuation Allowance, Current	1,155,000	1,048,000
Deferred Tax Assets, Valuation Allowance	($1,155,000)	($1,048,000)

Note_2_Income_Tax_Disclosure_S3

Note 2 - Income Tax Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Details) (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount	($106,000)	($97,000)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$106,000	$97,000

Note_3_Related_Party_Transacti1

Note 3 - Related Party Transactions Disclosure (Details) (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Salaries, Wages and Officers' Compensation	$200,000	'
Minimum Annual Salary Increase	3.00%	'
Accrued Salaries, Current	586,000	'
Acquisition of treasury stock	$29,000	$7,000
Treasury stock shares acquired	254,567	58,455

Note_4_Major_Customers_Details

Note 4 - Major Customers (Details)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Concentration Risk, Additional Characteristic	'In 2014 the Company had two customers who individually accounted for 10% or more of the Company's oil and gas sales and who, in aggregate, accounted for 78% of oil and gas sales. In 2014 the two customers individually accounted for 63% and 15% of oil and gas sales.	'In 2013 the Company had three customers who individually accounted for 10% or more of the Company's oil and gas sales and who, in aggregate, accounted for 85% of oil and gas sales. In 2013 the three customers individually accounted for 49%, 19% and 17% of oil and gas sales

Note_5_Leases_Details

Note 5 - Leases (Details) (USD $)	12 Months Ended
	Sep. 30, 2014		Sep. 30, 2013
Details	'		'
Operating Leases, Rent Expense	$13,000	[1]	$13,000	[1]
[1]	The Company may cancel upon 30 days written notice and the payment of a termination fee of $3,000

Note_7_Oil_and_Gas_Exploration5

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Capitalized Costs Relating to Oil and Gas Producing Activities Disclosure (Details) (USD $)	Sep. 30, 2014
Details	'
Capitalized Costs, Proved Properties	$347,000
Capitalized Costs, Accumulated Depreciation, Depletion, Amortization and Valuation Allowance Relating to Oil and Gas Producing Activities	-178,000
Capitalized Costs, Oil and Gas Producing Activities, Net	$169,000

Note_7_Oil_and_Gas_Exploration6

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Schedule of Proved Developed and Undeveloped Oil and Gas Reserve Quantities (Details)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2012
	bbl	bbl	bbl
Oil	'	'	'
Proved Developed and Undeveloped Reserves, Net	6,700	7,600	5,200
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates	-100	3,200	'
Proved Developed and Undeveloped Reserves, Production	-800	-800	'
Natural Gas	'	'	'
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates	2,000	1,000	'
Proved Developed and Undeveloped Reserves, Production	-2,000	-1,000	'

Note_7_Oil_and_Gas_Exploration7

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Present Value of Estimated Future Net Revenue (Details) (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Cash Inflows	$503,000	$521,000
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Production Costs	-54,000	-56,000
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Future Net Cash Flows	449,000	465,000
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, 10 Percent Annual Discount for Estimated Timing of Cash Flows	-193,000	-203,000
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Standardized Measure	$256,000	$262,000

Note_7_Oil_and_Gas_Exploration8

Note 7 - Oil and Gas Exploration and Production Industries Disclosures: Summary of Changes Present Value of Estimated Future Net Revenue (Details) (USD $)	12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Details	'	'
Changes in Estimated Future Development Costs	$262,000	$213,000
Sales and Transfers of Oil and Gas Produced, Net of Production Costs	-81,000	-82,000
Net Increase (Decrease) in Sales and Transfer Prices and Production Costs	31,000	-9,000
Revisions of quantity estimates	4,000	138,000
Accretion of Discount	26,000	21,000
Standardized Measure of Discounted Future Net Cash Flow of Proved Oil and Gas Reserves, Other	14,000	-19,000
Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves, Standardized Measure	$256,000	$262,000