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Property and Equipment
 12 Months Ended
Jun. 30, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment
Property and Equipment
 
June 30,
2020
 
June 30,
2019
Oil and natural gas properties:
 
 
 
Property costs subject to amortization
$
107,390,379

 
$
95,622,153

Less: Accumulated depreciation, depletion, and amortization
(40,878,098
)
 
(35,275,687
)
Unproved properties not subject to amortization
—

 
—

Oil and natural gas properties, net
66,512,281

 
60,346,466

Other property and equipment:
 
 
 
Furniture, fixtures and office equipment, at cost
154,731

 
154,731

Less: Accumulated depreciation
(137,092
)
 
(128,313
)
Other property and equipment, net
$
17,639

 
$
26,418


As of June 30, 2020 and 2019, all oil and gas property costs were being amortized.
During the years ended June 30, 2020 and 2019, the Company incurred capital expenditures of $1.5 million and $5.2 million, respectively.

Hamilton Dome Acquisition
On November 1, 2019, and effective as of October 1, 2019, our wholly-owned subsidiary, Evolution Petroleum West, Inc., a Delaware corporation, purchased a 23.5% non-operated working interest and a 19.7% revenue interest in the Hamilton Dome unitized field located in Hot Springs County, Wyoming, from entities owned or controlled by Merit Energy Company ("Merit") of Dallas, Texas. At closing on November 1, 2019, we paid a cash purchase price of $9.5 million subject to customary purchase price adjustments, which were settled in December 2019 upon our receipt of a $0.2 million cash payment made by Merit. Given the effective date of the transaction, the purchase price adjustment consisted of our interest's share of sales proceeds from October sales net of our share of operating expenses. Commencing November 1, 2019, we began recording our share of Hamilton Dome revenues, related expenses, and capital costs. In connection with this acquisition, the Company recorded a $0.9 million non-cash addition of asset retirement obligations of wells and related assets.
The unit includes producing and water injection wells and associated facilities producing crude oil from proved developed reserves. There were no proved undeveloped reserves. We accounted for this acquisition transaction as an asset purchase.