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Consolidated Condensed Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Revenues        
Total revenues $ 9,501,028 $ 10,151,155 $ 32,856,225 $ 29,479,342
Operating costs        
Depreciation, depletion and amortization 1,558,130 1,383,148 4,710,223 4,580,161
General and administrative expenses [1] 1,196,935 1,842,548 3,760,767 5,078,508
Total operating costs 6,548,073 6,487,888 19,174,596 18,450,364
Income from operations 2,952,955 3,663,267 13,681,629 11,028,978
Other        
Enduro transaction breakup fee 0 0 1,100,000 0
Interest and other income 65,831 21,345 172,260 52,036
Interest expense (28,789) (30,525) (87,479) (71,436)
Income before income taxes 2,989,997 3,654,087 14,866,410 11,009,578
Income tax provision (benefit) 591,122 585,733 2,767,169 (4,076,156)
Net income available to common stockholders $ 2,398,875 $ 3,068,354 $ 12,099,241 $ 15,085,734
Earnings per common share        
Basic (in dollars per share) $ 0.07 $ 0.09 $ 0.36 $ 0.46
Diluted (in dollars per share) $ 0.07 $ 0.09 $ 0.36 $ 0.45
Weighted average number of common shares        
Basic (in shares) 33,186,665 33,171,514 33,151,786 33,123,185
Diluted (in shares) 33,196,197 33,191,312 33,163,661 33,155,870
Crude oil        
Revenues        
Total revenues $ 9,032,032 $ 9,639,238 $ 30,945,359 $ 27,654,128
Natural gas liquids        
Revenues        
Total revenues 468,525 511,917 1,910,395 1,825,214
Natural gas        
Revenues        
Total revenues 471 0 471 0
Production costs        
Operating costs        
Production costs $ 3,793,008 $ 3,262,192 $ 10,703,606 $ 8,791,695
[1] General and administrative expenses for the three months ended March 31, 2019 and 2018 included non-cash stock-based compensation expenses of $208,665 and $352,420, respectively. For the nine months ended March 31, 2019 and 2018, non-cash stock-based compensation expenses were $678,149 and $1,324,230, respectively.