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Consolidated Condensed Statements of Operations (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Revenues    
Total revenues $ 7,593,940 $ 7,379,406
Operating costs    
Production costs 2,344,641 2,608,579
Depreciation, depletion and amortization 1,273,439 1,218,273
Accretion of discount on asset retirement obligations 13,224 11,343
General and administrative expenses [1] 1,235,043 1,684,845
Total operating costs 4,866,347 5,532,908
Income from operations 2,727,593 1,846,498
Other    
Gain on realized derivative instruments, net 90 866,427
Gain (loss) on unrealized derivative instruments, net (14,132) 1,071,962
Delhi field insurance recovery related to pre-reversion event 0 1,074,957
Interest and other income 12,745 5,812
Interest expense (20,345) (18,460)
Income before income taxes 2,705,951 4,847,196
Income tax provision 889,176 1,754,969
Net income attributable to the Company 1,816,775 3,092,227
Dividends on preferred stock 250,990 168,575
Deemed dividend on preferred shares called for redemption 1,002,440 0
Net income available to common stockholders $ 563,345 $ 2,923,652
Earnings per common share    
Basic (in dollars per share) $ 0.02 $ 0.09
Diluted (in dollars per share) $ 0.02 $ 0.09
Weighted average number of common shares    
Basic (in shares) 32,957,010 32,718,244
Diluted (in shares) 33,007,599 32,774,176
Crude oil    
Revenues    
Total revenues $ 7,593,855 $ 7,325,813
Natural gas liquids    
Revenues    
Total revenues 89 1,050
Natural gas    
Revenues    
Total revenues (4) 704
Artificial lift technology services    
Revenues    
Total revenues 0 51,839
Operating costs    
Production costs $ 0 $ 9,868
[1] General and administrative expenses for the three months ended September 30, 2016 and 2015 included non-cash stock-based compensation expense of $311,688 and $218,115, respectively.