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Property and Equipment (Tables)

9 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of oil and natural gas properties and other property and equipment

Property and equipment as of March 31, 2022 and June 30, 2021 consisted of the following:

			March 31, 2022						June 30, 2021
Oil and natural gas properties:
Property costs subject to amortization			$	157,312,262					$	129,123,227
Less: Accumulated depletion, depreciation, amortization and impairment			(74,752,924)						(70,607,367)
Oil and natural gas properties, net			$	82,559,338					$	58,515,860
Other property and equipment:
Furniture, fixtures, and office equipment, at cost			$	154,731					$	154,731
Less: Accumulated depreciation			(147,994)						(144,092)
Other property and equipment, net			$	6,737					$	10,639

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- References

No definition available.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(13))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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