Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Jun. 30, 2017
Current assets
Cash and cash equivalents	$ 24,929,844	$ 23,028,153
Restricted cash	2,751,289	0
Receivables	3,941,916	2,726,702
Prepaid expenses and other current assets	524,507	387,672
Total current assets	32,147,556	26,142,527
Property and equipment, net of depreciation, depletion, and amortization
Oil and natural gas properties—full-cost method of accounting, of which none were excluded from amortization	61,239,746	61,790,068
Other property and equipment, net	30,407	40,689
Total property and equipment, net	61,270,153	61,830,757
Other assets, net	244,835	295,384
Total assets	93,662,544	88,268,668
Current liabilities
Accounts payable	3,432,568	1,994,255
Accrued liabilities and other	874,886	724,639
State and federal taxes payable	122,760	0
Total current liabilities	4,430,214	2,718,894
Long term liabilities
Deferred income taxes	10,555,435	15,826,291
Asset retirement obligations	1,387,416	1,253,628
Total liabilities	16,373,065	19,798,813
Commitments and contingencies (Note 16)
Stockholders' equity
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,080,543 and 33,087,308 shares as of June 30, 2018 and 2017, respectively	33,080	33,087
Additional paid-in capital	41,757,645	40,961,957
Retained earnings	35,498,754	27,474,811
Total stockholders' equity	77,289,479	68,469,855
Total liabilities and stockholders' equity	$ 93,662,544	$ 88,268,668

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.