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Consolidated Condensed Statements of Cash Flows - USD ($)
 9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income (loss) attributable to common stockholders $ (18,654,154) $ 8,267,897
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation, depletion, and amortization 3,840,023 4,310,284
Impairment of proved property 24,792,079 0
Impairment of Well Lift Inc. - related assets 146,051 0
Stock-based compensation 938,093 926,794
Settlement of asset retirement obligations (101,311) (76,833)
Deferred income taxes (6,706,888) 268,938
Net loss on derivative contracts 614,645 0
Payments made for derivative settlements (2,791,176) 0
Other 11,337 35,966
Changes in operating assets and liabilities:    
Receivables (1,450,747) (2,054,097)
Prepaid expenses and other current assets 2,989 154,903
Accounts payable and accrued expenses 1,347,080 256,112
State and federal income taxes payable 571,361 143,500
Net cash provided by operating activities 2,559,382 12,233,464
Cash flows from investing activities    
Acquisition of oil and natural gas properties 0 (9,337,716)
Capital expenditures for oil and natural gas properties (183,690) (1,354,849)
Acquisition deposit (2,325,000) 0
Net cash used in investing activities (2,508,690) (10,692,565)
Cash flows from financing activities    
Common stock dividends paid (2,666,334) (9,916,841)
Common share repurchases, including shares surrendered for tax withholding (7,348) (2,483,357)
Net cash used in financing activities (2,673,682) (12,400,198)
Net decrease in cash and cash equivalents (2,622,990) (10,859,299)
Cash and cash equivalents, beginning of period 19,662,528 31,552,533
Cash and cash equivalents, end of period 17,039,538 20,693,234
Supplemental disclosures of cash flow information:    
Income taxes paid 667,618 1,150,000
Income tax refunds received 135,633 0
Non-cash transactions:    
(Decrease) increase in accrued purchases of property and equipment 510 (42,371)
Oil and natural gas property costs attributable to the recognition of asset retirement obligations $ 91,430 $ 871,076