v3.8.0.1
BALANCE SHEETS - USD ($)
Sep. 30, 2017
Sep. 30, 2016
Current Assets    
Cash $ 6,426 $ 64,114
Accounts Receivable, Net 63,147
Prepaid Expenses and Other Current Assets 40,573 38,311
Total Current Assets 46,999 165,572
Property and Equipment, net of depreciation 3,484 24,288
Oil and Natural Gas Properties, Full Cost Method of Accounting, Unproved Properties 1,887,879 4,526,171
Total Non-Current Assets 1,891,363 4,550,459
Total Assets 1,938,362 4,716,031
Current Liabilities    
Accounts Payable 476,244 426,271
Related Party Payable 298,458 265,834
Accrued Interest Payable 1,318,188 812,383
Accrued Expenses and Other Payables 1,321,927 1,352,929
Loans from Related Parties 9,155,581 8,382,891
Note Payable 3,690 4,156
Convertible Promissory Notes Payable 669,419 153,358
Stock Payable 11,605 11,605
Total Current Liabilities 13,255,112 11,409,427
Total Liabilities 13,255,112 11,409,427
Stockholders' Deficit    
Preferred Stock; par value ($0.001); Authorized 50,000,000 shares, none issued or outstanding
Common Stock; par value ($0.001); Authorized 975,000,000 as of September 30, 2017 and 2016; issued and outstanding 692,196,625 and 682,402,225, as of September 30, 2017 and 2016, respectively 692,196 682,402
Additional Paid-in Capital 27,212,577 26,151,376
Accumulated Deficit (39,221,523) (33,527,174)
Total Stockholders' Deficit (11,316,750) (6,693,396)
Total Liabilities and Stockholders' Deficit $ 1,938,362 $ 4,716,031

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v3.8.0.1
STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]    
Impairment of Oil and Natural Gas Properties $ 3,316,212 $ 2,890,678
General & Administrative Expenses 964,309 1,656,062
Net Loss from Operations (4,280,521) (4,546,740)
Other Income/(Expenses):    
Interest Expense (1,324,127) (629,174)
Loss on Debt Extinguishment (89,701)
Net Loss Before Income Taxes (5,694,349) (5,175,914)
Net Loss $ (5,694,349) $ (5,175,914)
Loss Per Share - Basic and Diluted (in dollars per share) $ (0.01) $ (0.01)
Weighted Average Shares Outstanding - Basic and Diluted (in shares) 684,935,344 678,387,357

Source

v3.8.0.1
STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Sep. 30, 2017
Sep. 30, 2016
OPERATING ACTIVITIES    
Net Loss $ (5,694,349) $ (5,175,914)
Adjustments to Reconcile Net Loss to Cash Used in Operating Activities:    
Impairment of Oil and Natural Gas Properties 3,316,212 2,890,678
Change in Allowance For Doubtful Accounts Receivable (128,024) 128,024
Depreciation 20,804 46,228
Debt Discount Amortization 810,540 196,249
Loss on Debt Extinguishment 89,701
Stock Based Compensation 458,543 283,098
Changes in Operating Assets and Liabilities:    
(Increase) Decrease in Accounts Receivable 191,171 (191,171)
(Increase) Decrease in Prepaid Expenses and other Current Assets 156,927 256,418
Increase (Decrease) in Accounts Payable (30,205) 74,455
Increase (Decrease) in Related Party Payable 32,626 72,437
Increase (Decrease) in Accrued Interest Payable 509,139 427,852
Increase (Decrease) in Accrued Liabilities and other Payables 39,515
Net Cash Used in Operating Activities (266,915) (952,133)
INVESTING ACTIVITIES    
Leases Purchased / Lease Rentals Paid, Net (284,089) (441,494)
Proceeds From Sale of Working Interest 26,400 400,000
Capitalized Exploration Costs (175,931) (1,230,593)
Net Cash Used in Investing Activities (433,620) (1,272,087)
FINANCING ACTIVITIES    
Proceeds from Related Party Loans 652,500 487,000
Payments on Note Payable (159,653) (241,680)
Proceeds from Convertible Promissory Notes and Warrants 150,000 615,000
Net Cash Provided by Financing Activities 642,847 860,320
Net Decrease in Cash (57,688) (1,363,900)
Beginning Cash Balance 64,114 1,428,014
Ending Cash Balance 6,426 64,114
Supplemental Schedule of Cash Flow Activities    
Cash Paid for Interest 4,448 5,073
Non-Cash Investing and Financing Activities    
Prepaid Asset Financed Through Notes Payable 159,188 240,848
Related Party Payable Settled Through Issuance of Bridge Financing Notes   70,000
Purchase of Developmental Capital Expenditures    
Through Issuance of Common Stock   15,608
Included in Accounts Payable 49,177 184,772
Through Stock Based Compensation to Employees $ 195,127 $ 387,197

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