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Consolidated Condensed Balance Sheets (Parenthetical) (USD $)
 6 Months Ended 12 Months Ended
Dec. 31, 2012
Jun. 30, 2012
Dec. 31, 2012
Series A Cumulative Preferred Stock
Jun. 30, 2012
Series A Cumulative Preferred Stock
Oil and natural gas properties, excluded from amortization (in dollars) $ 9,031,522 $ 6,042,094    
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001    
Preferred stock, shares authorized 5,000,000 5,000,000    
Cumulative Preferred Stock (as a percent)     8.50% 8.50%
Preferred stock, shares authorized     1,000,000 1,000,000
Preferred stock, shares issued     317,319 317,319
Preferred stock, shares outstanding     317,319 317,319
Preferred stock, liquidation preference (in dollars per share) $ 25.00 $ 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, issued shares 28,897,133 28,670,424    
Common stock, outstanding shares 28,106,796 27,882,224    
Treasury stock, shares 790,337 788,200