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Asset Retirement Obligations (Tables) | 9 Months Ended
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Mar. 31, 2020
Asset Retirement Obligation Disclosure [Abstract] |
Schedule of reconciliations of the beginning and ending asset retirement obligation balances | The following is a reconciliation of the beginning and ending asset retirement obligations for the nine months ended March 31, 2020 and for the year ended June 30, 2019:
| March 31, 2020 |  | June 30, 2019
Asset retirement obligations — beginning of period | $ | 1,610,845 |  |  | $ | 1,422,955 |
Liabilities incurred | 903,580 |  | (a) | 31,268 |
Liabilities settled | (86,593 | ) | (b) | — |
Liabilities sold | — |  |  | — |
Accretion of discount | 103,852 |  |  | 101,506 |
Revision of previous estimates | (32,504 | ) |  | 55,116 |
Asset retirement obligations — end of period | $ | 2,499,180 |  |  | $ | 1,610,845 |
Less current portion in accrued liabilities | — |  |  | (50,244 | )
Long-term portion of asset retirement obligations | $ | 2,499,180 |  |  | $ | 1,560,601 |
(a) Liabilities incurred in fiscal 2020 were due to our acquisition of our Hamilton Dome interest. (b) We abandoned one well in the Delhi field and four wells in the Hamilton Dome field.

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- Definition Tabular disclosure of the changes in carrying amount of a liability for asset retirement obligations, for changes such as new obligations, changes in estimates of existing obligations, spending on existing obligations, property dispositions, and foreign currency translation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 410 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6393242&loc=d3e13201-110859 + Details
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