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Supplemental Disclosure of Cash Flow Information
 12 Months Ended
Jun. 30, 2014
Supplemental Cash Flow Elements [Abstract]  
Supplemental Disclosure of Cash Flow Information
Note 10—Supplemental Disclosure of Cash Flow Information
Our supplemental disclosures of cash flow information for the years ended June 30, 2014, 2013, and 2012 are as follows:
 
June 30,
 
2014
 
2013
 
2012
Income taxes paid
$
755,941

 
$
699,874

 
$
895,000

Non-cash transactions:
 
 
 
 
 
Change in accounts payable used to acquire property and equipment
$
(183,766
)
 
$
(1,535,322
)
 
$
1,761,633

Oil and natural gas property costs attributable to the recognition of asset retirement obligations
$
66,976

 
$
65,575

 
$
93,522

Previously acquired Company shares swapped by holders to pay stock option exercise price
$
618,606

 
$
—

 
$
—