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Consolidated Balance Sheets (Parenthetical) (USD $)
 6 Months Ended
Dec. 31, 2011
Jun. 30, 2011
Dec. 31, 2011
Series A Cumulative Preferred Stock
Oil and natural gas properties, excluded from amortization (in dollars) $ 695,544 $ 2,940,199  
Cumulative Preferred Stock (as a percent)     8.50%
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001  
Preferred stock, shares authorized 5,000,000 5,000,000  
Preferred stock, shares designated     1,000,000
Preferred stock, shares issued     317,319
Preferred stock, shares outstanding     317,319
Preferred stock, total liquidation preference     $ 7,932,975
Preferred stock, liquidation preference (in dollars per share)     $ 25.00
Common stock, par value (in dollars per share) $ 0.001 $ 0.001  
Common stock, shares authorized 100,000,000 100,000,000  
Common stock, shares issued 28,605,163    
Common stock, shares outstanding 27,816,963 27,612,916  
Treasury stock, shares 788,200 788,200