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Consolidated Condensed Statements of Operations - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Revenues        
Total revenues $ 11,066,911 $ 8,529,817 $ 19,604,782 $ 16,123,757
Operating costs        
Production costs 2,914,512 2,292,421 5,806,098 4,637,062
Depreciation, depletion and amortization 1,633,868 1,307,510 3,152,411 2,580,949
Accretion of discount on asset retirement obligations 23,023 13,106 44,602 26,330
General and administrative expenses [1] 1,666,256 1,241,399 3,235,960 2,476,442
Total operating costs 6,237,659 4,854,436 12,239,071 9,720,783
Income from operations 4,829,252 3,675,381 7,365,711 6,402,974
Other        
Gain on realized derivative instruments, net 0 0 0 90
Loss on unrealized derivative instruments, net 0 0 0 (14,132)
Interest and other income 15,841 14,061 30,691 26,806
Interest expense (20,456) (20,711) (40,911) (41,056)
Income before income taxes 4,824,637 3,668,731 7,355,491 6,374,682
Income tax provision (benefit) (5,052,211) 1,361,097 (4,661,889) 2,250,273
Net income attributable to the Company 9,876,848 2,307,634 12,017,380 4,124,409
Dividends on preferred stock 0 0 0 250,990
Deemed dividend on redeemed preferred shares 0 0 0 1,002,440
Net income available to common stockholders $ 9,876,848 $ 2,307,634 $ 12,017,380 $ 2,870,979
Earnings per common share        
Basic (in dollars per share) $ 0.30 $ 0.07 $ 0.36 $ 0.09
Diluted (in dollars per share) $ 0.30 $ 0.07 $ 0.36 $ 0.09
Weighted average number of common shares        
Basic (in shares) 33,109,448 33,047,166 33,099,546 33,002,088
Diluted (in shares) 33,140,278 33,083,027 33,140,257 33,037,269
Crude oil        
Revenues        
Total revenues $ 10,185,635 $ 8,529,817 $ 18,014,890 $ 16,123,672
Natural gas liquids        
Revenues        
Total revenues 881,276 0 1,589,892 89
Natural gas        
Revenues        
Total revenues $ 0 $ 0 $ 0 $ (4)
[1] General and administrative expenses for the three months ended December 31, 2017 and 2016 included non-cash stock-based compensation expense of $484,326 and $275,184, respectively. For the corresponding six month periods, non-cash stock-based compensation expense was $971,810 and $586,872, respectively.