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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Jun. 30, 2025
Current assets    
Cash and cash equivalents $ 714 $ 2,507
Receivables from crude oil, natural gas, and natural gas liquids revenues 8,485 10,804
Derivative contract assets 2,075 1,777
Prepaid expenses and other current assets 1,235 2,287
Total current assets 12,509 17,375
Property and equipment, net of depletion, depreciation, and impairment    
Oil and natural gas properties, subject to amortization, net 149,934 142,248
Oil and natural gas properties, not subject to amortization 5,812  
Total property and equipment, net 155,746 142,248
Derivative contract assets 402 198
Other assets 474 431
Total assets 169,131 160,252
Current liabilities    
Accounts payable 11,167 12,901
Accrued liabilities and other 5,443 6,909
Derivative contract liabilities 1,216 1,577
State and federal taxes payable 55  
Total current liabilities 17,881 21,387
Long term liabilities    
Senior secured credit facility 53,000 37,500
Deferred income taxes 5,848 6,234
Asset retirement obligations 21,928 21,535
Derivative contract liabilities 1,343 1,783
Total liabilities 100,000 88,439
Commitments and contingencies (Note 10)
Stockholders' equity    
Common stock; par value $0.001; 100,000,000 shares authorized: issued and outstanding 34,647,751 and 34,337,188 shares as of September 30, 2025 and June 30, 2025, respectively 35 34
Additional paid-in capital 47,300 46,650
Retained earnings 21,796 25,129
Total stockholders' equity 69,131 71,813
Total liabilities and stockholders' equity $ 169,131 $ 160,252