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Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income attributable to the Company $ 6,543,552 $ 3,785,892
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 4,146,898 3,991,055
Impairments included in restructuring charge 0 569,228
Stock-based compensation 878,023 768,085
Accretion of discount on asset retirement obligations 39,892 34,555
Settlements of asset retirement obligations (157,910) 0
Deferred income taxes 3,079,342 (399,256)
(Gain) loss on derivative instruments, net (37,273) (4,099,759)
Write-off of deferred loan costs 0 50,414
Changes in operating assets and liabilities:    
Receivables (723,161) 1,178,053
Prepaid expenses and other current assets (445,597) 20,696
Accounts payable and accrued expenses (1,808,566) (98,254)
Income taxes payable (164,544) (35,405)
Net cash provided by operating activities 11,350,656 5,765,304
Cash flows from investing activities    
Derivative settlement payments (paid) received (318,618) 3,513,285
Capital expenditures for oil and natural gas properties (10,096,475) (12,191,121)
Capital expenditures for other property and equipment (32,260) (1,876)
Other assets 0 (161,345)
Net cash used in investing activities (10,447,353) (8,841,057)
Cash flows from financing activities    
Proceeds from exercise of stock options 0 51,000
Cash dividends to preferred stockholders (250,990) (505,726)
Cash dividends to common stockholders (6,116,323) (4,932,247)
Common share repurchases, including shares surrendered for tax withholding (459,858) (1,355,880)
Tax benefits related to stock-based compensation 0 3,727,913
Redemption of preferred shares (7,932,975) 0
Other 32 (21,969)
Net cash used in financing activities (14,760,114) (3,036,909)
Net decrease in cash and cash equivalents (13,856,811) (6,112,662)
Cash and cash equivalents, beginning of period 34,077,060 20,118,757
Cash and cash equivalents, end of period 20,220,249 14,006,095
Supplemental disclosures of cash flow information:    
Income taxes paid 1,383,773 480,000
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 (3,181,640) (130,202)
Deferred loan costs charged to oil and gas property costs 0 107,196
Oil and natural gas property costs incurred through recognition of asset retirement obligations 14,119 0
Settlement of accrued treasury stock purchases 0 (170,283)
Royalty rights acquired through non-monetary exchange of patent and trademark assets $ 0 $ 108,512