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Consolidated Condensed Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Revenues        
Total revenues $ 6,622,927 $ 7,708,067 $ 14,002,333 $ 11,712,894
Operating costs        
Depreciation, depletion and amortization 1,471,571 917,757 2,689,844 1,287,107
Accretion of discount on asset retirement obligations 11,517 8,137 22,860 12,773
General and administrative expenses [1] 2,057,521 1,606,501 3,742,366 3,111,094
Restructuring charges [2] 1,257,433 (5,431) 1,257,433 (5,431)
Total operating costs 7,077,914 5,545,773 12,610,822 7,709,734
Income (loss) from operations (454,987) 2,162,294 1,391,511 4,003,160
Other        
Gain on settled derivative instruments, net 1,298,201 0 2,164,628 0
Gain on unsettled derivative instruments, net 361,761 0 1,433,723 0
Delhi field insurance recovery related to pre-reversion event 0 0 1,074,957 0
Interest income 5,853 7,662 11,665 20,425
Interest (expense) (18,666) (12,159) (37,126) (30,619)
Income before income taxes 1,192,162 2,157,797 6,039,358 3,992,966
Income tax provision 368,889 917,879 2,123,858 1,624,038
Net income attributable to the Company 823,273 1,239,918 3,915,500 2,368,928
Dividends on preferred stock 168,576 168,576 337,151 337,151
Net income available to common stockholders $ 654,697 $ 1,071,342 $ 3,578,349 $ 2,031,777
Earnings per common share        
Basic (in dollars per share) $ 0.02 $ 0.03 $ 0.11 $ 0.06
Diluted (in dollars per share) $ 0.02 $ 0.03 $ 0.11 $ 0.06
Weighted average number of common shares        
Basic (in shares) 32,741,166 32,825,631 32,729,705 32,754,016
Diluted (in shares) 32,802,440 32,947,280 32,789,461 32,884,754
Delhi field        
Revenues        
Total revenues $ 6,558,215 $ 7,644,831 $ 13,854,601 $ 11,513,433
Operating costs        
Production costs 2,226,141 2,817,866 4,784,028 2,817,866
Artificial lift technology        
Revenues        
Total revenues 64,712 63,236 147,732 179,092
Operating costs        
Production costs 53,731 191,553 113,245 388,913
Other properties        
Revenues        
Total revenues 0 0 0 20,369
Operating costs        
Production costs $ 0 $ 9,390 $ 1,046 $ 97,412
[1] General and administrative expenses for the three months ended December 31, 2015 and 2014 included non-cash stock-based compensation expense of $212,724 and $245,020, respectively. For the corresponding six month periods, non-cash stock-based compensation expense was $430,839 and $488,357, respectively.
[2] Restructuring charges include $569,228 of non-cash impairment charges and $59,339 of non-cash stock-based compensation for the three months and six months ended December 31, 2015.