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Consolidated Condensed Statements of Cash Flows - USD ($)
6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net income $ 4,557,738 $ 9,700,366
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, depletion and amortization 2,910,803 3,152,093
Stock-based compensation 568,203 469,484
Settlements of asset retirement obligations (26,773) 0
Deferred income tax expense (benefit) 40,252 506,297
Other 32,149 9,648
Changes in operating assets and liabilities:    
Receivables (840,298) 507,689
Prepaid expenses (60,118) (70,048)
Accrued liabilities and other 875,929 (144,638)
Income taxes payable 116,173 13,364
Net cash provided by operating activities 8,174,058 14,144,255
Cash flows from investing activities    
Acquisition of oil and natural gas properties (9,337,716) 0
Capital expenditures for oil and natural gas properties (1,080,874) (5,048,987)
Capital expenditures for other property and equipment 0 (2,066)
Net cash used in investing activities (10,418,590) (5,051,053)
Cash flows from financing activities    
Cash dividends to common stockholders (6,621,194) (6,634,896)
Common share repurchases, including shares surrendered for tax withholding (1,750,839) (138,638)
Net cash used in financing activities (8,372,033) (6,773,534)
Net change in cash, cash equivalents and restricted cash (10,616,565) 2,319,668
Cash, cash equivalents and restricted cash, beginning of period 31,552,533 27,681,133
Cash and cash equivalents, end of period 20,935,968 30,000,801
Supplemental disclosures of cash flow information:    
Income taxes paid 1,100,000 1,862,919
Non-cash transactions:    
Change in accounts payable used to acquire oil and natural gas properties 39,361 (1,094,249)
Oil and natural gas property costs incurred through recognition of asset retirement obligations and revision of previous estimates $ 871,076 $ 31,268