Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Jun. 30, 2018
Current assets
Cash and cash equivalents	$ 31,552,533	$ 24,929,844
Restricted cash	0	2,751,289
Receivables	3,168,116	3,941,916
Prepaid expenses and other current assets	458,278	524,507
Total current assets	35,178,927	32,147,556
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	60,346,466	61,239,746
Other property and equipment, net	26,418	30,407
Total property and equipment, net	60,372,884	61,270,153
Other assets, net	210,033	244,835
Total assets	95,761,844	93,662,544
Current liabilities
Accounts payable	2,084,140	3,432,568
Accrued liabilities and other	537,755	874,886
State and federal taxes payable	130,799	122,760
Total current liabilities	2,752,694	4,430,214
Long term liabilities
Deferred income taxes	11,322,691	10,555,435
Asset retirement obligations	1,560,601	1,387,416
Total liabilities	15,635,986	16,373,065
Commitments and contingencies (Note 16)
Stockholders' equity
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,183,730 and 33,080,543 shares as of June 30, 2019 and 2018, respectively	33,183	33,080
Additional paid-in capital	42,488,913	41,757,645
Retained earnings	37,603,762	35,498,754
Total stockholders' equity	80,125,858	77,289,479
Total liabilities and stockholders' equity	$ 95,761,844	$ 93,662,544

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.