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Consolidated Statements of Operations (USD $)
 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Revenues      
Delhi field $ 16,908,666 $ 19,219,036 $ 15,143,770
Artificial lift technology 623,332 375,063 132,344
Other properties 141,510 1,755,821 2,685,924
Total revenues 17,673,508 21,349,920 17,962,038
Operating Costs      
Artificial lift technology 609,221 390,238 124,703
Production costs - other properties 584,352 1,390,500 1,650,296
Depreciation, depletion and amortization 1,228,685 1,300,207 1,136,974
Accretion of asset retirement obligations 41,626 72,312 77,505
General and administrative expenses 8,388,291 [1] 7,495,309 [1] 6,143,286 [1]
Restructuring charges 1,293,186 [2] 0 [2] 0 [2]
Total operating costs 12,145,361 10,648,566 9,132,764
Income from operations 5,528,147 10,701,354 8,829,274
Other      
Interest income 30,256 22,580 25,728
Interest (expense) (69,092) (65,745) (21,950)
Income before income tax provision 5,489,311 10,658,189 8,833,052
Income tax provision 1,891,998 4,029,761 3,700,922
Net income attributable to the Company 3,597,313 6,628,428 5,132,130
Dividends on preferred stock 674,302 674,302 630,391
Net income attributable to common shareholders $ 2,923,011 $ 5,954,126 $ 4,501,739
Earnings (loss) per common share      
Basic (in dollars per share) $ 0.09 $ 0.21 $ 0.16
Diluted (in dollars per share) $ 0.09 $ 0.19 $ 0.14
Weighted average number of common shares outstanding      
Basic (in shares) 30,895,832 28,205,467 27,784,298
Diluted (in shares) 32,564,067 31,975,131 31,609,929
[1] *General and administrative expenses for the years ended June 30, 2014, 2013 and 2012 included non-cash stock-based compensation expense of $1,352,322, $1,531,745 and $1,475,995, respectively.
[2] Restructuring charges for the year ended June 30, 2014 included non-cash stock-based compensation expense of $376,365.