REVENUE FROM CONTRACTS WITH CUSTOMERSDisaggregation of Revenue
The following tables provide information about disaggregated revenue by revenue streams, reportable segments, geographical region, and timing of revenue recognition based upon continuing operations for the years ended September 30, 2025 and 2024.
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| | Year ended September 30, 2025 |
| | Oil and natural gas | | | | Land investment | | Other | | Total |
| Revenue streams: | | | | | | | | | |
| Oil | $ | 10,476,000 | | | | | $ | — | | | $ | — | | | $ | 10,476,000 | |
| Natural gas | 1,499,000 | | | | | — | | | — | | | 1,499,000 | |
| Natural gas liquids | 1,588,000 | | | | | — | | | — | | | 1,588,000 | |
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| Other | — | | | | | — | | | 80,000 | | | 80,000 | |
| Total revenues before interest income | $ | 13,563,000 | | | | | $ | — | | | $ | 80,000 | | | $ | 13,643,000 | |
| Geographical regions: | | | | | | | | | |
| United States | $ | 1,171,000 | | | | | $ | — | | | $ | 1,000 | | | $ | 1,172,000 | |
| Canada | 12,392,000 | | | | | — | | | 79,000 | | | 12,471,000 | |
| Total revenues before interest income | $ | 13,563,000 | | | | | $ | — | | | $ | 80,000 | | | $ | 13,643,000 | |
| Timing of revenue recognition: | | | | | | | | | |
| Goods transferred at a point in time | $ | 13,563,000 | | | | | $ | — | | | $ | 80,000 | | | $ | 13,643,000 | |
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| | Year ended September 30, 2024 |
| | Oil and natural gas | | | | Land investment | | Other | | Total |
| Revenue streams: | | | | | | | | | |
| Oil | $ | 13,509,000 | | | | | $ | — | | | $ | — | | | $ | 13,509,000 | |
| Natural gas | 2,007,000 | | | | | — | | | — | | | 2,007,000 | |
| Natural gas liquids | 1,880,000 | | | | | — | | | — | | | 1,880,000 | |
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| Contingent residual payments | — | | | | | 500,000 | | | — | | | 500,000 | |
| Other | — | | | | | — | | | 91,000 | | | 91,000 | |
| Total revenues before interest income | $ | 17,396,000 | | | | | $ | 500,000 | | | $ | 91,000 | | | $ | 17,987,000 | |
| Geographical regions: | | | | | | | | | |
| United States | $ | 2,303,000 | | | | | $ | 500,000 | | | $ | — | | | $ | 2,803,000 | |
| Canada | 15,093,000 | | | | | — | | | 91,000 | | | 15,184,000 | |
| Total revenues before interest income | $ | 17,396,000 | | | | | $ | 500,000 | | | $ | 91,000 | | | $ | 17,987,000 | |
| Timing of revenue recognition: | | | | | | | | | |
| Goods transferred at a point in time | $ | 17,396,000 | | | | | $ | 500,000 | | | $ | 91,000 | | | $ | 17,987,000 | |
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Contract Balances
The following table provides the balances of our receivables from contracts with customers which is included in "Accounts and other receivables, net of allowance for credit losses," in the accompanying Consolidated Balance Sheets.
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| September 30, |
| 2025 | | 2024 | | 2023 |
| Accounts receivables from contracts with customers | $ | 913,000 | | | $ | 1,472,000 | | | $ | 2,344,000 | |
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About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.