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Property and Equipment | 6 Months Ended
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Dec. 31, 2013
Property and Equipment |
Property and Equipment | Note 2 —Property and Equipment As of December 31, 2013 and June 30, 2013 our oil and natural gas properties and other property and equipment consisted of the following:
|  | December 31, 2013 |  | June 30, 2013 |
Oil and natural gas properties |  |  |  |  |
Property costs subject to amortization |  | $ | 42,746,486 |  | $ | 42,772,184 |
Less: Accumulated depreciation, depletion, and amortization |  | (8,760,874 | ) | (8,095,856 | )
Unproved properties not subject to amortization |  | 4,258,459 |  | 4,112,704 |
Oil and natural gas properties, net |  | $ | 38,244,071 |  | $ | 38,789,032 |
Other property and equipment |  |  |  |  |
Furniture, fixtures and office equipment, at cost |  | 332,151 |  | 322,514 |
Less: Accumulated depreciation |  | (283,969 | ) | (270,297 | )
Other property and equipment, net |  | $ | 48,182 |  | $ | 52,217 |
Unproved property not subject to amortization consists of unevaluated acreage of $4.2 million and $4.1 million as of December 31, 2013 and June 30, 2013, respectively, for our properties in the Mississippi Lime in Oklahoma. Our evaluation of impairment of unproved properties occurs, at a minimum, on a quarterly basis. During the six months ended December 31, 2013 and the corresponding 2012 period, no impairments have been recorded.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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