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Consolidated Condensed Statements of Operations (USD $)
 3 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Revenues    
Delhi field $ 3,868,602 $ 4,429,811
Artificial lift technology 115,856 142,091
Other properties 20,369 61,797
Total revenues 4,004,827 4,633,699
Operating costs    
Production costs - artificial lift technology 197,360 163,749
Production costs - other properties 88,022 254,501
Depreciation, depletion and amortization 369,350 309,673
Accretion of discount on asset retirement obligations 4,636 12,928
General and administrative expenses 1,504,593 [1] 1,928,951 [1]
Total operating costs 2,163,961 2,669,802
Income from operations 1,840,866 1,963,897
Other    
Interest income 12,763 7,703
Interest (expense) (18,460) (16,513)
Net income before income taxes 1,835,169 1,955,087
Income tax provision 706,159 482,636
Net income attributable to the Company 1,129,010 1,472,451
Dividends on preferred stock 168,575 168,575
Net income available to common stockholders $ 960,435 $ 1,303,876
Earnings per common share    
Basic (in dollars per share) $ 0.03 $ 0.05
Diluted (in dollars per share) $ 0.03 $ 0.04
Weighted average number of common shares    
Basic (in shares) 32,682,401 28,607,320
Weighted average number of common shares and dilutive potential common shares used in diluted EPS 32,826,250 32,211,265
[1] General and administrative expenses for the three months ended September 30, 2014 and 2013 included non-cash stock-based compensation expense of $243,337 and $373,438, respectively.