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Consolidated Condensed Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net income attributable to the Company $ 15,085,734 $ 6,543,552
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 4,555,496 4,146,898
Stock-based compensation 1,324,230 878,023
Accretion of discount on asset retirement obligations 66,865 39,892
Settlements of asset retirement obligations 0 (157,910)
Deferred income taxes (benefit) (5,072,214) 3,079,342
Gain on derivative instruments, net 0 (37,273)
Changes in operating assets and liabilities:    
Receivables (1,223,271) (723,161)
Prepaid expenses and other current assets (294,973) (445,597)
Accounts payable and accrued expenses 73,678 (1,808,566)
Income taxes payable 0 (164,544)
Net cash provided by operating activities 14,515,545 11,350,656
Cash flows from investing activities    
Derivative settlement payments paid 0 (318,618)
Capital expenditures for oil and natural gas properties (1,668,820) (10,096,475)
Capital expenditures for other property and equipment (6,033) (32,260)
Net cash used in investing activities (1,674,853) (10,447,353)
Cash flows from financing activities    
Cash dividends to preferred stockholders 0 (250,990)
Cash dividends to common stockholders (8,286,486) (6,116,323)
Common share repurchases, including shares surrendered for tax withholding (395,550) (459,858)
Redemption of preferred shares 0 (7,932,975)
Other 0 32
Net cash used in financing activities (8,682,036) (14,760,114)
Net increase (decrease) in cash and cash equivalents 4,158,656 (13,856,811)
Cash and cash equivalents, beginning of period 23,028,153 34,077,060
Cash and cash equivalents, end of period 27,186,809 20,220,249
Supplemental disclosures of cash flow information:    
Income taxes paid 1,456,754 1,383,773
Non-cash transactions:    
Change in accounts payable used to acquire property and equipment 622,185 (3,181,640)
Oil and natural gas property costs incurred through recognition of asset retirement obligations $ (778) $ 14,119