STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Oil and gas sales	$ 3,843,420	$ 6,939,999	$ 6,133,299
Total revenues	3,843,420	6,939,999	6,133,299
Operating costs and expenses:
Oil and gas production, operating and development costs	1,872,186	1,972,223	1,857,528
General and administrative expenses	2,332,946	3,572,260	3,156,860
Depreciation, depletion and non-loan-related amortization	3,248,260	6,090,529	3,707,255
Total operating costs and expenses	7,453,392	11,635,012	8,721,643
Operating income (loss)	(3,609,972)	(4,695,013)	(2,588,344)
Non-operating income (expense):
Other income	666,270	2,927	8,098
Interest expense, including amortization of loan discount	(2,470,516)	(7,729,992)	(7,648,622)
Amortization of loan costs	(520,000)	(68,554)	(60,368)
Total non-operating income (expense)	(2,324,246)	(7,795,619)	(7,700,892)
Loss before income taxes	(5,934,218)	(12,490,632)	(10,289,236)
Provision for income taxes	0
Net loss	(5,934,218)	(12,490,632)	(10,289,236)
Dividends on preferred shares	(917,300)	(874,239)	(860,755)
Net loss available to common shareholders	$ (6,851,518)	$ (13,364,871)	$ (11,149,991)
Net loss per common share - basic and diluted (in dollars per share)	$ (0.09)	$ (0.17)	$ (0.15)
Weighted average common shares outstanding (in shares)	77,263,381	77,009,351	76,048,925