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Income Taxes (Details 2) (USD $) | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011
--- | --- | --- | ---
Deferred tax assets: |  |  |
Non-qualified stock-based compensation | $ 774,673 | $ 774,720 | $ 959,547
Net operating loss carry-forwards | 427,249 | 1,336,769 | 5,910,275
AMT credit carry-forward | 502,466 | 714,571 | 682,456
Other | 28,170 | 29,929 | 23,626
Gross deferred tax assets | 1,732,558 | 2,855,989 | 7,575,904
Valuation allowance | (292,446) | (893,410) | (5,187,983)
Total deferred tax assets | 1,440,112 | 1,962,579 | 2,387,921
Deferred tax liability: |  |  |
Oil and natural gas properties | (9,832,948) | (7,842,437) | (5,718,187)
Total deferred tax liability | (9,832,948) | (7,842,437) | (5,718,187)
Net deferred tax liability | (8,392,836) | (5,879,858) | (3,330,266)
Total AMT credit carry-forward | 632,335 |  |
AMT credit carry-forward associated with the windfall tax benefit excluded from net deferred tax liability | (129,869) |  |
Federal tax loss carry-forward | 1,300,000 |  |
Acquired deferral tax loss carry-forward available to use in equal amounts through 2023 | $ 400,000 |  |

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