XML 85 R26.htm IDEA: XBRL DOCUMENT v2.4.0.6

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2012

Property and Equipment

Schedule of oil and natural gas properties and other property and equipment

		June 30, 2012			June 30, 2011
Oil and natural gas properties
Property costs subject to amortization		$	40,874,244		$	35,860,517
Less: Accumulated depreciation, depletion, and amortization		(6,440,166		)	(5,353,152		)
Unproved properties not subject to amortization		6,042,094			2,940,199
Oil and natural gas properties, net		$	40,476,172		$	33,447,564
Other property and equipment
Furniture, fixtures and office equipment, at cost		$	322,514		$	261,340
Less: Accumulated depreciation		(230,243		)	(192,078		)
Other property and equipment, net		$	92,271		$	69,262

Schedule of summary of costs that are not being amortized by the fiscal year in which the costs were incurred

					During the Year Ended June 30,
Costs excluded from amortization		Total			2012			2011			2010			2009			2008
Leasehold acquisition costs and other		$	6,042,094		$	6,042,094		$	—		$	—		$	—		$	—

X

- Details

Name:	us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph b

-Article 5



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 12

-Paragraph 5

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name:	us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the capitalized costs of unproved properties and major development projects that are excluded from capitalized costs being amortized. This includes the total costs excluded and, at a minimum, these categories of costs: acquisition costs, exploration costs, development costs in the case of significant development projects, and capitalized interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 932

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-10.(c)(7)(ii))

-URI http://asc.fasb.org/extlink&oid=21918352&loc=d3e511914-122862



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 10

-Paragraph c

-Subparagraph 3(ii)(A)

-Article 4

+ Details

Name:	us-gaap_ScheduleOfCapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration