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Supplemental Disclosure of Cash Flow Information
 12 Months Ended
Jun. 30, 2012
Supplemental Disclosure of Cash Flow Information  
Supplemental Disclosure of Cash Flow Information

 

Note 9 — Supplemental Disclosure of Cash Flow Information

 

Our supplemental disclosures of cash flow information for the year ended June 30, 2012, 2011 and 2010 are as follows:

 

 

 

Year Ended

 

 

 

June 30,

 

 

 

2012

 

2011

 

2010

 

Income taxes paid

 

$

895,000

 

$

229,802

 

$

329,800

 

 

 

 

 

 

 

 

 

Income tax refunds and net operating loss carry-back received

 

$

—

 

$

979,177

 

$

2,095,126

 

 

 

 

 

 

 

 

 

Non-cash transactions:

 

 

 

 

 

 

 

Change in accounts payable used to acquire oil and natural gas leasehold interests and develop oil and natural gas properties

 

$

(196,396

)

$

(91,483

)

$

(62,532

)

Change in due to joint venture partner used to acquire oil and natural gas leasehold interests and develop oil and natural gas properties

 

$

1,958,029

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

Accrued advance in due to joint venture partner

 

$

1,142,715

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

Oil and natural gas property costs attributable to the recognition of asset retirement obligations

 

$

93,522

 

$

15,000

 

$

85,871

 

 

 

 

 

 

 

 

 

Windfall tax benefit recognized in income taxes recoverable

 

$

—

 

$

—

 

$

173,157