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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2014
Revenues      
Total revenues $ 26,349,502 $ 27,841,265 $ 17,673,508
Operating costs      
Production costs 9,062,179 9,335,244 1,193,573
Depreciation, depletion and amortization 5,165,120 3,615,737 1,228,685
Accretion of discount on asset retirement obligations 49,054 34,866 41,626
General and administrative expenses [1] 9,079,597 6,256,783 8,388,291
Restructuring charges 1,257,433 (5,431) 1,293,186
Total operating costs 24,684,315 19,257,568 12,145,361
Income from operations 1,665,187 8,583,697 5,528,147
Other      
Gain on settled derivative instruments, net 3,315,123 0 0
Gain (loss) on unsettled derivative instruments, net 124,106 (109,974) 0
Delhi field litigation settlement 28,096,500 0 0
Delhi field insurance recovery related to pre-reversion event 1,074,957 0 0
Interest and other income 26,211 35,991 30,256
Interest (expense) (70,943) (73,636) (69,092)
Income before income tax provision 34,231,141 8,436,078 5,489,311
Income tax provision 9,570,779 3,444,221 1,891,998
Net income attributable to the Company 24,660,362 4,991,857 3,597,313
Dividends on preferred stock 674,302 674,302 674,302
Net income attributable to common shareholders $ 23,986,060 $ 4,317,555 $ 2,923,011
Earnings per common share      
Basic (in dollars per share) $ 0.73 $ 0.13 $ 0.09
Diluted (in dollars per share) $ 0.73 $ 0.13 $ 0.09
Weighted average number of common shares outstanding      
Basic (in shares) 32,810,375 32,817,456 30,895,832
Diluted (in shares) 32,861,231 32,924,018 32,564,067
Crude Oil      
Revenues      
Total revenues $ 26,130,762 $ 27,761,291 $ 17,460,392
Natural Gas Liquids      
Revenues      
Total revenues 7,885 37,227 117,166
Natural Gas      
Revenues      
Total revenues 2,895 26,601 95,950
Artificial Lift Technology      
Revenues      
Total revenues 207,960 16,146 0
Operating costs      
Production costs $ 70,932 $ 20,369 $ 0
[1] General and administrative expenses for the years ended June 30, 2016, 2015 and 2014 included non-cash stock-based compensation expense of $1,750,209, $943,653, and $1,352,322, respectively. These years also included litigation expenses of $2,729,755, $1,015,105, and $300,564, respectively.