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Consolidated Condensed Balance Sheets (Parenthetical) (USD $)
 9 Months Ended 12 Months Ended
Mar. 31, 2014
Jun. 30, 2013
Oil and natural gas properties, excluded from amortization (in dollars)   $ 4,112,704
Preferred stock, par value (in dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 5,000,000 5,000,000
Common stock, par value (in dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, issued shares 32,571,335 29,410,858
Common stock, outstanding shares 32,571,335 28,608,969
Treasury stock, shares   801,889
Series A Cumulative Preferred Stock
    
Preferred stock, shares authorized 1,000,000 1,000,000
Cumulative Preferred Stock (as a percent) 8.50% 8.50%
Preferred stock, shares issued 317,319 317,319
Preferred stock, shares outstanding 317,319 317,319
Preferred stock, total liquidation preference (in dollars) $ 7,932,975 $ 7,932,975
Preferred stock, liquidation preference (in dollars per share) $ 25.00 $ 25.00