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Consolidated Statements of Cash Flows (USD $)
 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2011
Cash Flows From Operating Activities      
Net income (loss) attributable to the Company $ 6,628,428 $ 5,132,130 $ (241,553)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 1,341,055 1,150,454 563,104
Stock-based compensation 1,531,745 1,475,995 1,536,007
Accretion of asset retirement obligations 72,312 77,505 59,913
Settlement of asset retirement obligations (90,531) (61,936) (1,847)
Deferred income taxes 2,512,978 2,549,592 380,386
Deferred rent (17,146) (15,401) 3,777
Other     32,080
Changes in operating assets and liabilities:      
Receivables from oil and natural gas sales (289,506) 216,057 (1,023,038)
Receivables from income taxes and other (189,813) (64,194) 687,228
Due to/from joint interest partners (9,947) 139,705 (87,743)
Prepaid expenses and other current assets (33,121) (165,581) 90,652
Accounts payable and accrued expenses 538,057 379,873 497,783
Royalties payable (202,586) (448,638) 521,589
Income taxes payable 141,581 9,845 36,778
Net cash provided by operating activities 11,933,506 10,375,406 3,055,116
Cash Flows from Investing Activities      
Proceeds from asset sales 3,479,976 799,610 231,326
Development of oil and natural gas properties (4,163,080) (3,291,921) (2,509,652)
Acquisitions of oil and natural gas properties (755,194) (3,768,162) (997,279)
Capital expenditures for other equipment   (61,176) (864)
Advances to joint venture operating partner   (224,206)  
Maturities of certificates of deposit     1,100,000
Other assets (32,160) (35,056) (48,702)
Net cash used in investing activities (1,470,458) (6,580,911) (2,225,171)
Cash Flows from Financing Activities      
Proceeds from issuance of preferred stock, net   6,930,535  
Proceeds from issuance of restricted stock 32   28
Proceeds from the exercise of stock options 70,719   106,049
Purchases of treasury stock (137,818)    
Preferred stock dividends paid (674,302) (630,391)  
Deferred loan costs (16,211) (163,257)  
Windfall tax benefit 794,569 249,728 173,157
Net cash provided by financing activities 36,989 6,386,615 279,234
Net increase in cash and cash equivalents 10,500,037 10,181,110 1,109,179
Cash and cash equivalents, beginning of period 14,428,548 4,247,438 3,138,259
Cash and cash equivalents, end of period $ 24,928,585 $ 14,428,548 $ 4,247,438