6. New CEO's employment and stock options agreement highlights	9 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
New CEO's employment and stock options agreement highlights	On October 19, 2016, the Company hired a new CEO and entered into an employment agreement providing for the following compensation: Base Salary: The base salary is $90,000 per year ($7,500 per month), with $2,000 guaranteed and paid on a monthly basis, and the remaining $5,500 accruing each month until certain benchmarks are reached. Accrual reduction happens at the one year mark, at which point $4,000 is guaranteed and paid on a monthly basis, with the remaining $3,500 accruing each month until certain benchmarks are reached. At the two year mark, accrual ends and any unpaid balance is paid out on a monthly basis at $500, with the final lump sum paid at the three year mark. Option Compensation: The CEO was granted 1,500,000 stock options. The stock options vest in 375,000 increments based on the CEO’s ability to raise additional capital ($1M and $10M), get Company’s share price to above $2.00 with 10,000 shares daily trading volume for 30 consecutive days, or increase daily production to 500 boepd. All benchmarks must be reached within two years of the October 18, 2016 grant date. If there is a change in control, then all options vest and become immediately exercisable. As of June 30, 2017, the Company concluded that the vesting conditions were not probable, and therefore no compensation expense has been recorded related to these options. Annual Bonus: The annual bonus is not guaranteed, however the Company will track the performance criteria throughout the year. Other Perks: Among the various perks, the CEO gets two weeks paid vacation each calendar year.

6. New CEO's employment and stock options agreement highlights

9 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

New CEO's employment and stock options agreement highlights

On October 19, 2016, the Company hired a new CEO and entered into an employment agreement providing for the following compensation:

Base Salary: The base salary is $90,000 per year ($7,500 per month), with $2,000 guaranteed and paid on a monthly basis, and the remaining $5,500 accruing each month until certain benchmarks are reached. Accrual reduction happens at the one year mark, at which point $4,000 is guaranteed and paid on a monthly basis, with the remaining $3,500 accruing each month until certain benchmarks are reached. At the two year mark, accrual ends and any unpaid balance is paid out on a monthly basis at $500, with the final lump sum paid at the three year mark.

Option Compensation: The CEO was granted 1,500,000 stock options. The stock options vest in 375,000 increments based on the CEO’s ability to raise additional capital ($1M and $10M), get Company’s share price to above $2.00 with 10,000 shares daily trading volume for 30 consecutive days, or increase daily production to 500 boepd. All benchmarks must be reached within two years of the October 18, 2016 grant date. If there is a change in control, then all options vest and become immediately exercisable. As of June 30, 2017, the Company concluded that the vesting conditions were not probable, and therefore no compensation expense has been recorded related to these options.

Annual Bonus: The annual bonus is not guaranteed, however the Company will track the performance criteria throughout the year.

Other Perks: Among the various perks, the CEO gets two weeks paid vacation each calendar year.

West Texas Resources, Inc. 10-Q