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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2010
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Sep. 30, 2011
Revenues            
Oil and gas sales $ 0 $ 851,899 $ 917,067 $ 2,459,575 $ 1,314,982 $ 1,899,584
Costs and expenses            
Lease operating expense 0 258,923 19,425 496,559 49,942 200,742
Production taxes 0 39,255 42,258 113,342 60,271 87,217
Depreciation, depletion and amortization 0 214,642 164,688 526,486 213,959 264,657
Asset retirement obligation accretion 0 3,142 1,116 5,259 2,168 3,260
General and administrative 107,033 485,733 172,699 1,188,104 796,077 987,778
Other 11,111 82 349 708 47,462 25,526
Total costs and expenses 118,144 1,001,777 400,535 2,330,458 1,169,879 1,569,180
Income (loss) from operations (118,144) (149,878) 516,532 129,117 145,103 330,404
Other income (expense)            
Interest income 0 493 511 2,205 1,337 904
Interest expense 0 (299,561) (273,524) (791,629) (469,959) (679,629)
Change in fair value of warrant and conversion feature liabilities 0 427,162 27,033 910,270 (819,416) (761,076)
Loss on debt extinguishment    (306,415)    (306,415)      
Total other income (expense) 0 (178,321) (245,980) (185,569) (1,288,038) (1,439,801)
Income (loss) before income taxes (118,144) (328,199) 270,552 (56,452) (1,142,935) (1,109,397)
Provision for income taxes 0             0
Net income (loss) $ (118,144) $ (328,199) $ 270,552 $ (56,452) $ (1,142,935) $ (1,109,397)
Earnings (loss) per share - Basic $ (0.02) $ (0.03) $ 0.03 $ (0.01) $ (0.16) $ (0.15)
Weighted average number of common shares   12,730,916 7,865,822 11,618,860 6,935,857  
Earnings (loss) per share - Diluted   $ (0.03) $ 0.03 $ (0.01) $ (0.16)  
Weighted average number of common and potential common shares   12,730,916 7,865,822 11,618,860 6,935,857