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Property and Equipment (Tables)
 12 Months Ended
Jun. 30, 2014
Property, Plant and Equipment [Abstract]  
Schedule of oil and natural gas properties and other property and equipment
As of June 30, 2014 and June 30, 2013, our oil and natural gas properties and other property and equipment consisted of the following:
 
June 30,
2014
 
June 30,
2013
Oil and natural gas properties
 
 
 
Property costs subject to amortization
$
47,166,282

 
$
42,772,184

Less: Accumulated depreciation, depletion, and amortization
(9,344,212
)
 
(8,095,856
)
Unproved properties not subject to amortization
—

 
4,112,704

Oil and natural gas properties, net
37,822,070

 
38,789,032

Other property and equipment
 
 
 
Furniture, fixtures and office equipment, at cost
343,178

 
322,514

Artificial lift technology equipment, at cost
377,943

 
—

Less: Accumulated depreciation
(296,294
)
 
(270,297
)
Other property and equipment, net
$
424,827

 
$
52,217