XML 14 R1.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Jun. 30, 2011
Current assets  
Cash and cash equivalents$ 11,614,866$ 4,247,438
Certificates of deposit250,000250,000
Restricted cash from joint interest partner127,466118,194
Receivables  
Oil and natural gas sales1,452,9801,559,404
Joint interest partner358,24586,105
Income taxes 28,680
Other169167
Prepaid expenses and other current assets367,683284,324
Total current assets14,171,4096,574,312
Property and equipment, net of depreciation, depletion, and amortization  
Oil and natural gas properties - full-cost method of accounting, of which $2,167,513 and $2,940,199 at September 30, 2011 and June 30, 2011, respectively, were excluded from amortization.33,574,85533,447,564
Other property and equipment61,43469,262
Total property and equipment33,636,28933,516,826
Other assets91,05877,287
Total assets47,898,75640,168,425
Current liabilities  
Accounts payable668,804514,177
Joint interest advances91,324105,567
Accrued compensation180,000682,850
Royalties payable354,904742,651
Income taxes payable442,840298,594
Other current liabilities277,54084,565
Total current liabilities2,015,4122,428,404
Long term liabilities  
Deferred income taxes3,990,0333,330,266
Asset retirement obligations858,850859,586
Deferred rent82,87085,412
Total liabilities6,947,1656,703,668
Commitments and contingencies (Note 9)  
Stockholders' equity  
Common stock; par value $0.001; 100,000,000 shares authorized: Issued 28,570,918 shares; outstanding 27,782,718 shares and 27,612,916 shares as of September 30, 2011 and June 30, 2011, respectively.28,57028,400
Additional paid-in capital27,231,90820,761,209
Retained earnings14,572,85313,557,170
Stockholders equity before treasury stock41,833,61334,346,779
Treasury stock, at cost, 788,200 shares as of September 30, 2011 and June 30, 2011.(882,022)(882,022)
Total stockholders' equity40,951,59133,464,757
Total liabilities and stockholders' equity47,898,75640,168,425
Series A Cumulative Preferred Stock
  
Stockholders' equity  
Preferred stock, par value $0.001; 5,000,000 shares authorized: 8.5% Series A Cumulative Preferred Stock, 1,000,000 shares authorized, 282,255 shares issued and outstanding at September 30, 2011, with a liquidation preference of $25.00 per share.$ 282