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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2016
Revenues      
Total revenues $ 41,281,212 $ 34,484,896 $ 26,349,502
Operating costs      
Depreciation, depletion and amortization 6,011,998 5,719,405 5,165,120
Accretion of discount on asset retirement obligations 90,290 59,664 49,054
General and administrative expenses [1] 6,773,781 4,985,408 9,079,597
Restructuring charges 0 4,488 1,257,433
Total operating costs 25,069,571 21,604,774 24,684,315
Income from operations 16,211,641 12,880,122 1,665,187
Other      
Gain on settled derivative instruments, net 0 43,890 3,315,123
Gain (loss) on unsettled derivative instruments, net 0 (14,132) 124,106
Delhi field litigation settlement 0 0 28,096,500
Delhi field insurance recovery related to pre-reversion event 0 0 1,074,957
Interest and other income 85,654 56,855 26,211
Interest (expense) (110,780) (81,758) (70,943)
Income before income tax provision 16,186,515 12,884,977 34,231,141
Income tax provision (benefit) (3,431,969) 4,840,664 9,570,779
Net income attributable to the Company 19,618,484 8,044,313 24,660,362
Dividends on preferred stock 0 250,990 674,302
Deemed dividend on redeemed preferred shares 0 1,002,440 0
Net income attributable to common shareholders $ 19,618,484 $ 6,790,883 $ 23,986,060
Earnings per common share      
Basic (in dollars per share) $ 0.59 $ 0.21 $ 0.73
Diluted (in dollars per share) $ 0.59 $ 0.21 $ 0.73
Weighted average number of common shares outstanding      
Basic (in shares) 33,126,469 33,034,480 32,810,375
Diluted (in shares) 33,178,535 33,110,560 32,861,231
Crude Oil      
Revenues      
Total revenues $ 38,153,417 $ 33,550,698 $ 26,130,762
Natural Gas Liquids      
Revenues      
Total revenues 3,127,795 934,202 7,885
Natural Gas      
Revenues      
Total revenues 0 (4) 2,895
Artificial Lift Technology      
Revenues      
Total revenues 0 0 207,960
Operating costs      
Production costs 0 0 70,932
Production      
Operating costs      
Production costs $ 12,193,502 $ 10,835,809 $ 9,062,179
[1] General and administrative expenses for the years ended June 30, 2018, 2017 and 2016 included non-cash stock-based compensation expense of $1,366,764, $1,180,618, and $1,750,209, respectively.