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Asset Retirement Obligations
 3 Months Ended
Sep. 30, 2017
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations
Asset Retirement Obligations
 
Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon and
remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following is a
reconciliation of the beginning and ending asset retirement obligations for the three months ended September 30, 2017 and for the year ended June 30, 2017:
 
September 30,
2017
 
June 30,
2017
Asset retirement obligations — beginning of period
$
1,288,743

 
$
962,196

Liabilities incurred
—

 
52,792

Liabilities settled
—

 
(157,164
)
Liabilities sold
—

 
(47,817
)
Accretion of discount
21,579

 
59,664

Revision of previous estimates
—

 
419,072

Asset retirement obligations — end of period
$
1,310,322

 
$
1,288,743

Less current portion in accrued liabilities
(35,115
)
 
(35,115
)
Long-term portion of asset retirement obligations
$
1,275,207

 
$
1,253,628