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Consolidated Statements of Operations (USD $)
 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Revenues      
Crude oil $ 20,686,401 $ 16,547,415 $ 5,672,471
Natural gas liquids 253,167 620,187 893,525
Natural gas 410,352 794,436 964,879
Total Revenues 21,349,920 17,962,038 7,530,875
Operating Costs      
Lease operating expenses 1,713,833 1,708,235 1,298,650
Production taxes 66,905 66,764 80,677
Depreciation, depletion and amortization 1,300,207 1,136,974 563,104
Accretion of asset retirement obligations 72,312 77,505 59,913
General and administrative expenses 7,495,309 [1] 6,143,286 [1] 5,335,384 [1]
Total operating costs 10,648,566 9,132,764 7,337,728
Income from operations 10,701,354 8,829,274 193,147
Other      
Interest income 22,580 25,728 14,214
Interest (expense) (65,745) (21,950)  
Income before income tax provision 10,658,189 8,833,052 207,361
Income tax provision 4,029,761 3,700,922 448,914
Net income (loss) attributable to the Company 6,628,428 5,132,130 (241,553)
Dividends on Preferred Stock 674,302 630,391  
Net income (loss) attributable to common shareholders $ 5,954,126 $ 4,501,739 $ (241,553)
Earnings (loss) per common share      
Basic (in dollars per share) $ 0.21 $ 0.16 $ (0.01)
Diluted (in dollars per share) $ 0.19 $ 0.14 $ (0.01)
Weighted average number of common shares outstanding      
Basic (in shares) 28,205,467 27,784,298 27,437,496
Diluted (in shares) 31,975,131 31,609,929 27,437,496
[1] General and administrative expenses for the year ended June 30, 2013, 2012 and 2011 included non-cash stock-based compensation expense of $1,531,745, $1,475,995 and $1,536,007, respectively.