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Consolidated Condensed Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Revenues        
Total revenues $ 10,249,566 $ 9,525,437 $ 29,854,348 $ 25,649,194
Operating costs        
Production costs 3,360,603 2,811,258 9,166,701 7,448,320
Depreciation, depletion and amortization 1,360,885 1,523,475 4,513,296 4,104,424
Accretion of discount on asset retirement obligations 22,263 13,562 66,865 39,892
General and administrative expenses [1] 1,842,548 1,283,906 5,078,508 3,760,348
Total operating costs 6,586,299 5,632,201 18,825,370 15,352,984
Income from operations 3,663,267 3,893,236 11,028,978 10,296,210
Other        
Gain on realized derivative instruments, net 0 3,350 0 3,440
Gain on unrealized derivative instruments, net 0 47,965 0 33,833
Interest and other income 21,345 13,099 52,036 39,905
Interest expense (30,525) (20,317) (71,436) (61,373)
Income before income taxes 3,654,087 3,937,333 11,009,578 10,312,015
Income tax provision (benefit) 585,733 1,518,190 (4,076,156) 3,768,463
Net income attributable to the Company 3,068,354 2,419,143 15,085,734 6,543,552
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 $ 3,068,354 $ 2,419,143 $ 15,085,734 $ 5,290,122
Earnings per common share        
Basic (in dollars per share) $ 0.09 $ 0.07 $ 0.46 $ 0.16
Diluted (in dollars per share) $ 0.09 $ 0.07 $ 0.45 $ 0.16
Weighted average number of common shares        
Basic (in shares) 33,171,514 33,062,297 33,123,185 33,021,865
Diluted (in shares) 33,191,312 33,115,699 33,155,870 33,064,708
Crude oil        
Revenues        
Total revenues $ 9,639,238 $ 9,060,796 $ 27,654,128 $ 25,184,468
Natural gas liquids        
Revenues        
Total revenues 610,328 464,641 2,200,220 464,730
Natural gas        
Revenues        
Total revenues $ 0 $ 0 $ 0 $ (4)
[1] General and administrative expenses for the three months ended March 31, 2018 and 2017 included non-cash stock-based compensation expense of $352,420 and $291,151, respectively. For the corresponding nine month periods, non-cash stock-based compensation expense was $1,324,230 and $878,023, respectively.