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Income Taxes - Schedule of Deferred Income Taxes (Details) - USD ($) | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2014
--- | --- | --- | ---
Deferred tax assets: |  |  |  |
Non-qualified stock-based compensation |  | $ 553,182 | $ 173,647 | $ 134,469
Net operating loss carry-forwards |  | 386,808 | 400,288 | 427,249
AMT credit carry-forward | [1] | 0 | 701,254 | 701,254
Other |  | 130,947 | 91,113 | 165,775
Gross deferred tax assets |  | 1,070,937 | 1,366,302 | 1,428,747
Valuation allowance |  | (292,446) | (292,446) | (292,446)
Total deferred tax assets |  | 778,491 | 1,073,856 | 1,136,301
Deferred tax liability: |  |  |  |
Oil and natural gas properties |  | (12,513,863) | (12,233,993) | (10,873,949)
Total deferred tax liability |  | (12,513,863) | (12,233,993) | (10,873,949)
Net deferred tax liability |  | (11,735,372) | $ (11,160,137) | $ (9,737,648)
AMT credit carry-forward |  | 901,545 |  |
AMT associated with stock-based compensation |  | $ 200,291 |  |
[1] | In fiscal 2016 we used our total AMT credit carry-forward of $901,545. Our previous deferred tax asset above did not include $200,291 of AMT credit carry-forward associated with the tax benefit related to stock-based compensation.

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