Oil and gas reserves information: (Tables)

12 Months Ended

Jun. 30, 2013

Oil and gas reserves information:

Schedule of proved oil and gas reserves, all within the United States

Proved reserves

	Natural Gas (Mcf)
	2013		2012		2011
Proved developed and undeveloped reserves:
Beginning of year	23,339,985		57,692,086		29,157,280
Revisions of previous estimates	353,722		(51,465,506	)	(2,429,214	)
Extensions and discoveries	10,439,327		19,357,720		32,445,450
Less: Production	(1,141,474	)	(2,244,315	)	(1,481,430	)
Disposals of reserves in place	—		—		—
End of year	32,991,560		23,339,985		57,692,086

	Oil, condensate (Bbls)
	2013		2012		2011
Proved developed and undeveloped reserves:
Beginning of year	427,633		1,199		8,647
Revisions of previous estimates	(177,553	)	344		(4,742	)
Extensions and discoveries	146,291		427,190		—
Less: Production	(863	)	(1,100	)	(2,706	)
Disposals of reserves in place	—		—		—
End of year	395,508		427,633		1,199

	Natural Gas Liquids (Bbls)
	2013		2012		2011
Proved developed and undeveloped reserves:
Beginning of year	1,313,566		—		—
Revisions of previous estimates	(279,169	)	1,312		—
Purchases of reserves in place	—		—		—
Extensions and discoveries	603,602		1,313,531		—
Less: Production	(2,525	)	(1,277	)	—
Disposals of reserves in place	—		—		—
End of year	1,635,474		1,313,566		—

	Natural Gas (Mcfs)
	2013	2012	2011
Proved developed reserves:
Beginning of year	3,982,265	6,634,236	2,666,610
End of year	4,899,388	3,982,265	6,634,236
Proved undeveloped reserves:
Beginning of year	19,357,720	51,057,850	26,490,670
End of year	28,092,173	19,357,720	51,057,850

	Oil (Bbls)
	2013	2012	2011
Proved developed reserves:
Beginning of year	443	1,199	1,166
End of year	1,835	44	1,199
Proved undeveloped reserves:
Beginning of year	427,190	—	7,481
End of year	393,673	427,190	—

	Natural Gas Liquids (Bbls)
	2013	2012	2011
Proved developed reserves:
Beginning of year	35	—	—
End of year	11,205	35	—
Proved undeveloped reserves:
Beginning of year	1,313,531	—	—
End of year	1,624,269	1,313,531	—

Schedule of estimated standardized measure relating to proved oil and gas reserves

Table 1	2013			2012			2011
Future cash flows	$	242,990,435		$	179,704,719		$	261,446,375
Future production costs	(29,432,000		)	(32,485,700		)	(43,345,400		)
Future development costs	(111,455,400		)	(72,969,420		)	(126,835,250		)
Future severance tax expense	(13,268,035		)	(4,526,463		)	(4,330,356		)
Future income taxes	—			—			—
Future net cash flows	$	88,835,000		$	69,723,136		$	86,935,369
Ten percent annual discount for estimated timing of net cash flows	(49,787,200		)	(39,746,927		)	(40,024,625		)
Standardized measure of discounted future net cash flows	$	39,047,800		$	29,976,209		$	46,910,744

Schedule of changes in the estimated standardized measure of proved reserves

Table 2	2013			2012			2011
Changes from:
Sale of oil and gas produced	$	(1,971,234	)	$	(4,967,776	)	$	(4,275,771	)
Net changes in prices and production costs	(695,805		)	(56,534,586		)	(12,465,909		)
Extensions and discoveries	12,195,100			24,472,000			19,367,520
Revision of previous quantity estimates	11,285,959			(17,572,834		)	(6,450,989		)
Accretion of discounts	2,997,621			4,691,074			6,475,729
Net change in income taxes	526,854			1,975,312			(2,178,009		)
Disposals of reserves in place	—			—			—
Development costs incurred that reduced future development costs	—			—			(321,688		)
Changes in future development costs	48,872,306			(42,558,894		)	(604,579		)
Changes in timing of production and other	(64,139,210		)	73,561,169			(17,392,850		)
Change in standardized measure	$	9,071,591		$	(16,934,535	)	$	(17,846,546	)