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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Jun. 30, 2020
Current assets    
Cash and cash equivalents $ 5,276,510 $ 19,662,528
Receivables from oil and gas sales 8,686,967 1,919,213
Receivables for federal and state income tax refunds 3,107,638 3,243,271
Prepaid expenses and other current assets 1,037,259 491,686
Total current assets 18,108,374 25,316,698
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 58,515,860 66,512,281
Other property and equipment, net 10,639 17,639
Total property and equipment, net 58,526,499 66,529,920
Other assets, net 70,789 291,618
Total assets 76,705,662 92,138,236
Current liabilities    
Accounts payable 5,609,367 1,471,679
Accrued liabilities and other 947,045 716,648
Derivative contract liabilities 0 1,911,343
State and federal taxes payable 37,748 179,189
Total current liabilities 6,594,160 4,278,859
Long term liabilities    
Senior secured credit facility 4,000,000 0
Deferred income taxes 5,957,202 11,061,023
Asset retirement obligations 5,538,752 2,588,894
Operating lease liability 20,745 84,978
Total liabilities 22,110,859 18,013,754
Commitments and contingencies
Stockholders' equity    
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 33,514,952 and 32,956,469 shares as of June 30, 2021 and 2020, respectively 33,515 32,956
Additional paid-in capital 42,541,224 41,291,446
Retained earnings 12,020,064 32,800,080
Total stockholders' equity 54,594,803 74,124,482
Total liabilities and stockholders' equity $ 76,705,662 $ 92,138,236