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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2015
Revenues      
Total revenues $ 34,484,896 $ 26,349,502 $ 27,841,265
Operating costs      
Production costs 10,835,809 9,062,179 9,335,244
Depreciation, depletion and amortization 5,719,405 5,165,120 3,615,737
Accretion of discount on asset retirement obligations 59,664 49,054 34,866
General and administrative expenses [1] 4,985,408 9,079,597 6,256,783
Restructuring charges (income) 4,488 1,257,433 (5,431)
Total operating costs 21,604,774 24,684,315 19,257,568
Income from operations 12,880,122 1,665,187 8,583,697
Other      
Gain on realized derivative instruments, net 43,890 3,315,123 0
Gain (loss) on unrealized derivative instruments, net (14,132) 124,106 (109,974)
Delhi field litigation settlement 0 28,096,500 0
Delhi field insurance recovery related to pre-reversion event 0 1,074,957 0
Interest and other income 56,855 26,211 35,991
Interest expense (81,758) (70,943) (73,636)
Income before income tax provision 12,884,977 34,231,141 8,436,078
Income tax provision 4,840,664 9,570,779 3,444,221
Net income attributable to the Company 8,044,313 24,660,362 4,991,857
Dividends on preferred stock 250,990 674,302 674,302
Deemed dividend on preferred shares called for redemption 1,002,440 0 0
Net income attributable to common shareholders $ 6,790,883 $ 23,986,060 $ 4,317,555
Earnings per common share      
Basic (in dollars per share) $ 0.21 $ 0.73 $ 0.13
Diluted (in dollars per share) $ 0.21 $ 0.73 $ 0.13
Weighted average number of common shares outstanding      
Basic (in shares) 33,034,480 32,810,375 32,817,456
Diluted (in shares) 33,110,560 32,861,231 32,924,018
Crude Oil      
Revenues      
Total revenues $ 33,550,698 $ 26,130,762 $ 27,761,291
Natural Gas Liquids      
Revenues      
Total revenues 934,202 7,885 37,227
Natural Gas      
Revenues      
Total revenues (4) 2,895 26,601
Artificial Lift Technology      
Revenues      
Total revenues 0 207,960 16,146
Operating costs      
Production costs $ 0 $ 70,932 $ 20,369
[1] General and administrative expenses for the years ended June 30, 2017, 2016 and 2015 included non-cash stock-based compensation expense of $1,180,618, $1,750,209, and $943,653, respectively. These years also included litigation expenses of $127,435, $2,729,755, and $1,015,105, respectively.