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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities    
Net income attributable to the Company $ 1,816,775 $ 3,092,227
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 1,287,523 1,230,432
Stock-based compensation 311,688 218,115
Accretion of discount on asset retirement obligations 13,224 11,343
Settlements of asset retirement obligations (15,899) 0
Deferred income taxes 708,673 (12,568)
(Gain) loss on derivative instruments, net 14,042 (1,938,389)
Write-off of deferred loan costs 0 50,414
Changes in operating assets and liabilities:    
Receivables 119,808 757,617
Prepaid expenses and other current assets (21,365) 47,815
Accounts payable and accrued expenses (2,235,240) (1,563,847)
Income taxes payable (524,772) 343,704
Net cash provided by operating activities 1,474,457 2,236,863
Cash flows from investing activities    
Derivative settlement payments (paid) received (318,708) 551,772
Capital expenditures for oil and natural gas properties (4,818,816) (6,571,757)
Capital expenditures for other property and equipment (26,347) 0
Other assets 0 (23,802)
Net cash used in investing activities (5,163,871) (6,043,787)
Cash flows from financing activities    
Cash dividends to preferred stockholders (168,575) (168,575)
Cash dividends to common stockholders (1,652,290) (1,629,703)
Common share repurchases, including shares surrendered for tax withholding (330,070) (1,175,920)
Tax benefits related to stock-based compensation 0 2,980,832
Other 0 (1,276)
Net cash (used) provided by financing activities (2,150,935) 5,358
Net decrease in cash and cash equivalents (5,840,349) (3,801,566)
Cash and cash equivalents, beginning of period 34,077,060 20,118,757
Cash and cash equivalents, end of period 28,236,711 16,317,191
Supplemental disclosures of cash flow information:    
Income taxes paid 787,366 0
Louisiana carryback income tax refund and related interest received 0 1,556,999
Non-cash transactions:    
Change in accounts payable used to acquire property and equipment (2,030,485) (4,072,935)
Accrued redemption of called preferred shares 7,932,975 0
Accrued preferred dividends through redemption date 82,415 0
Deferred loan costs charged to oil and gas property costs 0 108,472
Settlement of accrued treasury stock purchases $ 0 $ (170,283)