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Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2012
Cash Flows From Operating Activities      
Net income attributable to the Company $ 3,597,313 $ 6,628,428 $ 5,132,130
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 1,272,778 1,341,055 1,150,454
Stock-based compensation 1,352,322 1,531,745 1,475,995
Stock-based compensation related to restructuring 376,365 0 0
Accretion of asset retirement obligations 41,626 72,312 77,505
Settlement of asset retirement obligations (315,952) (90,531) (61,936)
Deferred income taxes 1,344,812 2,512,978 2,549,592
Deferred rent (17,145) (17,146) (15,401)
Changes in operating assets and liabilities:      
Receivables from oil and natural gas sales 176,707 (289,506) 216,057
Receivables from income taxes and other 281,822 (189,813) (64,194)
Due from joint interest partners 49,063 47,088 (10,046)
Prepaid expenses and other current assets (480,899) (33,121) (165,581)
Accounts payable and accrued expenses 663,645 278,436 80,986
Income taxes payable (233,548) 141,581 9,845
Net cash provided by operating activities 8,108,909 11,933,506 10,375,406
Cash Flows from Investing Activities      
Proceeds from asset sales 542,347 3,479,976 799,610
Development of oil and natural gas properties (966,931) (4,163,080) (3,291,921)
Acquisitions of oil and natural gas properties (59,315) (755,194) (3,768,162)
Capital expenditures for other equipment (312,890) 0 (61,176)
Advances to joint venture operating partner 0 0 (224,206)
Maturities of certificates of deposit 250,000 0 0
Other assets (202,017) (32,160) (35,056)
Net cash used in investing activities (748,806) (1,470,458) (6,580,911)
Cash Flows from Financing Activities      
Proceeds from the exercise of stock options 3,252,801 70,719 0
Proceeds from issuance of preferred stock, net 0 0 6,930,535
Acquisitions of treasury stock (1,655,251) (137,818) 0
Common stock dividends paid (9,723,833) 0 0
Preferred stock dividends paid (674,302) (674,302) (630,391)
Deferred loan costs (63,535) (16,211) (163,257)
Tax benefits related to stock-based compensation 509,096 794,569 249,728
Other 6,850 32 0
Net cash provided (used) by financing activities (8,348,174) 36,989 6,386,615
Net increase (decrease) in cash and cash equivalents (988,071) 10,500,037 10,181,110
Cash and cash equivalents, beginning of period 24,928,585 14,428,548 4,247,438
Cash and cash equivalents, end of period $ 23,940,514 $ 24,928,585 $ 14,428,548