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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2014	Sep. 10, 2014	Dec. 31, 2013
Document and Entity Information
Entity Registrant Name	EVOLUTION PETROLEUM CORP
Entity Central Index Key	0001006655
Document Type	10-K
Document Period End Date	Jun. 30, 2014
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 288,090,504
Entity Common Stock, Shares Outstanding		32,793,414
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated Balance Sheets - USD ($)	Jun. 30, 2014	Jun. 30, 2013
Current assets
Cash and cash equivalents	$ 23,940,514	$ 24,928,585
Certificates of deposit	0	250,000
Receivables
Oil and natural gas sales	1,456,146	1,632,853
Joint interest partner	0	49,063
Income taxes	0	281,970
Other	1,066	918
Deferred tax asset	159,624	26,133
Prepaid expenses and other current assets	747,453	266,554
Total current assets	26,304,803	27,436,076
Property and equipment, net of depreciation, depletion, and amortization
Oil and natural gas properties—full-cost method of accounting, of which $4,112,704 was excluded from amortization at June 30, 2013	37,822,070	38,789,032
Other property and equipment	424,827	52,217
Total property and equipment	38,246,897	38,841,249
Advances to joint interest operating partner	0	26,059
Other assets	464,052	252,912
Total assets	65,015,752	66,556,296
Current liabilities
Accounts payable	441,722	769,099
State and federal taxes payable	0	233,548
Accrued liabilities and other	2,558,004	1,630,103
Total current liabilities	2,999,726	2,632,750
Long term liabilities
Deferred income taxes	9,897,272	8,418,969
Asset retirement obligations	205,512	615,551
Deferred rent	35,720	52,865
Total liabilities	13,138,230	11,720,135
Commitments and Contingencies
Stockholders' equity
Common stock; par value $0.001; 100,000,000 shares authorized; issued 32,615,646 shares at June 30, 2014, and 29,410,858 at June 30, 2013; outstanding 32,615,646 shares and 28,608,969 shares as of June 30, 2014 and 2013, respectively	32,615	29,410
Additional paid-in capital	34,632,377	31,813,239
Retained earnings	17,212,213	24,013,035
Stockholders equity before treasury stock	51,877,522	55,856,001
Treasury stock, at cost, no shares and 801,889 shares as of June 30, 2014 and 2013, respectively	0	(1,019,840)
Total stockholders' equity	51,877,522	54,836,161
Total liabilities and stockholders' equity	65,015,752	66,556,296
Series A Cumulative Preferred Stock
Stockholders' equity
Preferred stock, par value $0.001; 5,000,000 shares authorized: 8.5% Series A Cumulative Preferred Stock, 1,000,000 shares designated, 317,319 shares issued and outstanding at June 30, 2014 and 2013, respectively, with a total liquidation preference of $7,932,975 ($25.00 per share)	$ 317	$ 317

Consolidated Balance Sheets (Parenthetical) - USD ($)	12 Months Ended
Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2014	Jun. 30, 2013
Oil and natural fas properties, excluded from amortization	$ 0	$ 4,112,704
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, issued shares	32,615,646	29,410,858
Common stock, outstanding shares	32,615,646	28,608,969
Treasury stock, shares	0	801,889
Series A Cumulative Preferred Stock
Cumulative Preferred Stock (as a percent)	8.50%	8.50%
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	317,319	317,319
Preferred stock, shares outstanding	317,319	317,319
Preferred stock, total liquidation preference (in dollars)	$ 7,932,975	$ 7,932,975
Preferred stock, liquidation preference (in dollars per share)	$ 25	$ 25.00

Consolidated Statements of Operations - USD ($)

12 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2012

Revenues

Delhi field

$ 16,908,666

$ 19,219,036

$ 15,143,770

Artificial lift technology

623,332

375,063

132,344

Other properties

141,510

1,755,821

2,685,924

Total revenues

17,673,508

21,349,920

17,962,038

Operating Costs

Artificial lift technology

609,221

390,238

124,703

Production costs - other properties

584,352

1,390,500

1,650,296

Depreciation, depletion and amortization

1,228,685

1,300,207

1,136,974

Accretion of asset retirement obligations

41,626

72,312

77,505

General and administrative expenses

^[1]

8,388,291

7,495,309

6,143,286

Restructuring charges

^[2]

1,293,186

Total operating costs

12,145,361

10,648,566

9,132,764

Income from operations

5,528,147

10,701,354

8,829,274

Other

Interest income

30,256

22,580

25,728

Interest (expense)

(69,092)

(65,745)

(21,950)

Income before income tax provision

5,489,311

10,658,189

8,833,052

Income tax provision

1,891,998

4,029,761

3,700,922

Net income attributable to the Company

3,597,313

6,628,428

5,132,130

Dividends on preferred stock

674,302

630,391

Net income attributable to common shareholders

$ 2,923,011

$ 5,954,126

$ 4,501,739

Earnings (loss) per common share

Basic (in dollars per share)

$ 0.09

$ 0.21

$ 0.16

Diluted (in dollars per share)

$ 0.09

$ 0.19

$ 0.14

Weighted average number of common shares outstanding

Basic (in shares)

30,895,832

28,205,467

27,784,298

Diluted (in shares)

32,564,067

31,975,131

31,609,929

[1]	*General and administrative expenses for the years ended June 30, 2014, 2013 and 2012 included non-cash stock-based compensation expense of $1,352,322, $1,531,745 and $1,475,995, respectively.
[2]	Restructuring charges for the year ended June 30, 2014 included non-cash stock-based compensation expense of $376,365.

Consolidated Statements of Operations (Parenthetical) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
General and Administrative Expense
Non-cash stock-based compensation expense	$ 1,352,322	$ 1,531,745	$ 1,475,995
Restructuring Charges
Non-cash stock-based compensation expense	$ 376,365	$ 0	$ 0

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Cash Flows From Operating Activities
Net income attributable to the Company	$ 3,597,313	$ 6,628,428	$ 5,132,130
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, depletion and amortization	1,272,778	1,341,055	1,150,454
Stock-based compensation	1,352,322	1,531,745	1,475,995
Stock-based compensation related to restructuring	376,365	0	0
Accretion of asset retirement obligations	41,626	72,312	77,505
Settlement of asset retirement obligations	(315,952)	(90,531)	(61,936)
Deferred income taxes	1,344,812	2,512,978	2,549,592
Deferred rent	(17,145)	(17,146)	(15,401)
Changes in operating assets and liabilities:
Receivables from oil and natural gas sales	176,707	(289,506)	216,057
Receivables from income taxes and other	281,822	(189,813)	(64,194)
Due from joint interest partners	49,063	47,088	(10,046)
Prepaid expenses and other current assets	(480,899)	(33,121)	(165,581)
Accounts payable and accrued expenses	663,645	278,436	80,986
Income taxes payable	(233,548)	141,581	9,845
Net cash provided by operating activities	8,108,909	11,933,506	10,375,406
Cash Flows from Investing Activities
Proceeds from asset sales	542,347	3,479,976	799,610
Development of oil and natural gas properties	(966,931)	(4,163,080)	(3,291,921)
Acquisitions of oil and natural gas properties	(59,315)	(755,194)	(3,768,162)
Capital expenditures for other equipment	(312,890)	0	(61,176)
Advances to joint venture operating partner	0	0	(224,206)
Maturities of certificates of deposit	250,000	0	0
Other assets	(202,017)	(32,160)	(35,056)
Net cash used in investing activities	(748,806)	(1,470,458)	(6,580,911)
Cash Flows from Financing Activities
Proceeds from the exercise of stock options	3,252,801	70,719	0
Proceeds from issuance of preferred stock, net	0	0	6,930,535
Acquisitions of treasury stock	(1,655,251)	(137,818)	0
Common stock dividends paid	(9,723,833)	0	0
Preferred stock dividends paid	(674,302)	(674,302)	(630,391)
Deferred loan costs	(63,535)	(16,211)	(163,257)
Tax benefits related to stock-based compensation	509,096	794,569	249,728
Other	6,850	32	0
Net cash provided (used) by financing activities	(8,348,174)	36,989	6,386,615
Net increase (decrease) in cash and cash equivalents	(988,071)	10,500,037	10,181,110
Cash and cash equivalents, beginning of period	24,928,585	14,428,548	4,247,438
Cash and cash equivalents, end of period	$ 23,940,514	$ 24,928,585	$ 14,428,548

Consolidated Statement of Changes in Stockholders' Equity - USD ($)

Total

Preferred

Common Stock

Additional Paid-in Capital

Retained Earnings

Treasury Stock

Balance at Jun. 30, 2011

$ 33,464,757

$ 0

$ 28,400

$ 20,761,209

$ 13,557,170

$ (882,022)

Balance (in shares) at Jun. 30, 2011

27,612,916

Increase (Decrease) in Stockholders' Equity

Issuance of preferred stock

7,932,975

$ 317

7,932,658

Issuance of preferred stock (in shares)

317,319

Preferred stock issuance costs

(1,002,440)

Issuance of restricted common stock

$ 196

(162)

Issuance of restricted common stock (shares)

196,106

Exercise of stock warrants

$ 66

(66)

Exercise of stock warrants (in shares)

65,261

Exercise of stock options

$ 8

(8)

Exercise of stock options (shares)

7,941

Stock-based compensation

1,475,995

249,728

Net income (loss)

5,132,130

Preferred Stock dividends

(630,391)

Balance at Jun. 30, 2012

46,622,788

$ 317

$ 28,670

29,416,914

18,058,909

(882,022)

Balance (in shares) at Jun. 30, 2012

317,319

27,882,224

Increase (Decrease) in Stockholders' Equity

Issuance of restricted common stock

$ 211

(179)

Issuance of restricted common stock (shares)

211,197

Exercise of stock options

70,719

$ 529

70,190

Exercise of stock options (shares)

529,237

Purchases of treasury stock

(137,818)

Purchases of treasury stock (shares)

(13,689)

Stock-based compensation

1,531,745

794,569

Net income (loss)

6,628,428

Preferred Stock dividends

(674,302)

Balance at Jun. 30, 2013

54,836,161

$ 317

$ 29,410

31,813,239

24,013,035

(1,019,840)

Balance (in shares) at Jun. 30, 2013

317,319

28,608,969

Increase (Decrease) in Stockholders' Equity

Issuance of restricted common stock

$ 40

(40)

Issuance of restricted common stock (shares)

39,732

Exercise of stock warrants

$ 905

(905)

Exercise of stock warrants (in shares)

905,391

Exercise of stock options

3,871,407

$ 3,299

3,868,108

Exercise of stock options (shares)

3,299,367

Forfeiture of restricted stock

$ (51)

Forfeiture of restricted stock (in shares)

(51,099)

Purchases of treasury stock

$ (2,273,857)

(2,273,857)

Purchases of treasury stock (shares)

(186,714)

Treasury Stock, Retired, Cost Method, Amount

$ 0

$ (988)

(3,292,709)

3,293,697

Stock-based compensation

^[1]

1,728,687

509,096

Net income (loss)

3,597,313

Dividends, Common Stock

(9,723,833)

Preferred Stock dividends

(674,302)

Recovery of short swing profits

6,850

Balance at Jun. 30, 2014

$ 51,877,522

$ 317

$ 32,615

$ 34,632,377

$ 17,212,213

$ 0

Balance (in shares) at Jun. 30, 2014

317,319

32,615,646

[1]	Includes $376,365 of stock compensation reflected in restructuring charges.

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Non-cash stock-based compensation expense	$ 800,000
Restructuring Charges
Non-cash stock-based compensation expense		$ 376,365	$ 0	$ 0

Organization and Basis of Preparation	12 Months Ended
Organization and Basis of Preparation	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Preparation	Organization and Basis of Preparation Nature of Operations. Evolution Petroleum Corporation ("EPM") and its subsidiaries (the "Company", "we", "our" or "us"), is an independent petroleum company headquartered in Houston, Texas and incorporated under the laws of the State of Nevada. We are engaged primarily in the development of incremental oil and gas reserves within known oil and gas resources for our shareholders and customers utilizing conventional and proprietary technology. Principles of Consolidation and Reporting. Our consolidated financial statements include the accounts of EPM and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The consolidated financial statements for the previous year include certain reclassifications that were made to conform to the current presentation. Such reclassifications have no impact on previously reported income or stockholders' equity. Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include reserve quantities and estimated future cash flows associated with proved reserves, which significantly impact depletion expense and potential impairments of oil and natural gas properties, income taxes and the valuation of deferred tax assets, stock-based compensation and commitments and contingencies. We analyze our estimates based on historical experience and various other assumptions that we believe to be reasonable. While we believe that our estimates and assumptions used in preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2014
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Cash and Cash Equivalents. We consider all highly liquid investments, with original maturities of 90 days or less when purchased, to be cash and cash equivalents. Account Receivable and Allowance for Doubtful Accounts. Accounts receivable consist of uncollateralized joint interest owner obligations due within 30 days of the invoice date, uncollateralized accrued revenues due under normal trade terms, generally requiring payment within 30 days of production, and other miscellaneous receivables. No interest is charged on past-due balances. Payments made on accounts receivable are applied to the earliest unpaid items. We establish provisions for losses on accounts receivables if it is determined that collection of all or a part of an outstanding balance is not probable. Collectibility is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method. As of June 30, 2014 and 2013, no allowance for doubtful accounts was considered necessary. Oil and Natural Gas Properties. We use the full cost method of accounting for our investments in oil and natural gas properties. Under this method of accounting, all costs incurred in the acquisition, exploration and development of oil and natural gas properties, including unproductive wells, are capitalized. This includes any internal costs that are directly related to property acquisition, exploration and development activities but does not include any costs related to production, general corporate overhead or similar activities. Gain or loss on the sale or other disposition of oil and natural gas properties is not recognized, unless the gain or loss would significantly alter the relationship between capitalized costs and proved reserves. Oil and natural gas properties include costs that are excluded from costs being depleted or amortized. Excluded costs represent investments in unproved and unevaluated properties and include non-producing leasehold, geological and geophysical costs associated with leasehold or drilling interests and exploration drilling costs. We exclude these costs until the project is evaluated and proved reserves are established or impairment is determined. Excluded costs are reviewed at least quarterly to determine if impairment has occurred. The amount of any evaluated or impaired oil and natural gas properties is transferred to capitalized costs being amortized. Limitation on Capitalized Costs. Under the full-cost method of accounting, we are required, at the end of each fiscal quarter, to perform a test to determine the limit on the book value of our oil and natural gas properties (the "Ceiling Test"). If the capitalized costs of our oil and natural gas properties, net of accumulated amortization and related deferred income taxes , exceed the "Ceiling", this excess or impairment is charged to expense and reflected as additional accumulated depreciation, depletion and amortization or as a credit to oil and natural gas properties. The expense may not be reversed in future periods, even though higher oil and natural gas prices may subsequently increase the Ceiling. The Ceiling is defined as the sum of: (a) the present value, discounted at 10 percent, and assuming continuation of existing economic conditions, of 1) estimated future gross revenues from proved reserves, which is computed using oil and natural gas prices determined as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month period prior to the end of the reporting period (with consideration of price changes only to the extent provided by contractual arrangements including hedging arrangements pursuant to SAB 103), less 2) estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves; plus (b) the cost of properties not being amortized (pursuant to Reg. S-X Rule 4-10 (c)(3)(ii)); plus (c) the lower of cost or estimated fair value of unproven properties included in the costs being amortized; net of (d) the related tax effects related to the difference between the book and tax basis of our oil and natural gas properties. Our Ceiling Test did not result in an impairment of our oil and natural gas properties during the years ended June 30, 2014, 2013 or 2012. Other Property and Equipment. Other property and equipment includes leasehold improvements, data processing and telecommunications equipment, office furniture and equipment, and oilfield service equipment related to our artificial lift technology operations. These items are recorded at cost and depreciated over expected lives of the individual assets or group of assets, which range from three to seven years. The assets are depreciated using the straight-line method, except for oilfield service equipment related to our artificial lift technology operations, which is depreciated using a method which approximates the timing and amounts of expected revenues from the contract. Repairs and maintenance costs are expensed in the period incurred. Deferred Costs. The Company capitalizes costs incurred in connection with obtaining financing. These costs are included in other assets on the Company's Consolidated Balance Sheet and are amortized over the term of the related financing using the straight-line method, which approximates the effective interest method. Asset Retirement Obligations. An asset retirement obligation associated with the retirement of a tangible long-lived asset is recognized as a liability in the period incurred, with an associated increase in the carrying amount of the related long-lived asset, our oil and natural gas properties. The cost of the tangible asset, including the asset retirement cost, is depleted over the useful life of the asset. The initial recognition or subsequent revision of asset retirement cost is considered a level 3 fair value measurement. The asset retirement obligation is recorded at its estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligation discounted at our credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liability is accreted to its expected settlement value. If the estimated future cost of the asset retirement obligation changes, an adjustment is recorded to both the asset retirement obligation and the long-lived asset. Revisions to estimated asset retirement obligations can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment. Fair Value of Financial Instruments. Our financial instruments consist of cash and cash equivalents, certificates of deposit, accounts receivable, and accounts payable. The carrying amounts of these approximate fair value due to the highly liquid nature of these short-term instruments. Stock-based Compensation. We record all share-based payment expense in our financial statements based on the estimated fair value of the award on the grant date. We use the Black-Scholes option-pricing model as the most appropriate fair-value method for our stock option awards. Restricted stock awards are valued using the market price of our common stock on the grant date. We record compensation cost, net of estimated forfeitures, for stock-based compensation awards over the requisite service period on a straight-line basis as the awards vest. As each award vests, an adjustment is made to compensation cost for any difference between the estimated forfeitures and the actual forfeitures related to the vested awards. Revenue Recognition - Oil and Gas. We recognize oil and natural gas revenue from our interests in producing wells at the time that title passes to the purchaser. As a result, we accrue revenues related to production sold for which we have not received payment. Revenue Recognition - Artificial Lift Technology. Our artificial lift technology operations may generate revenues under several forms of operational or contractual arrangements. We have utilized the technology on wells that we develop and operate and on certain wells that we operate under farm-outs from other operators. In these cases, our revenues take the form of net sales of oil and gas production. We have also provided the technology to third parties under contractual arrangements that generate fees for the technology which are based on the net profits from oil and gas production. Under these contracts, we may be required to bear part or all of the incremental installation and capital costs for the technology. In other cases, we may be compensated for our technology through a fixed or variable fee per well, which does not require us to bear any net costs of installation or other capital costs. In the future, we may enter into licensing contracts which allow for the sale and installation of the technology by third parties to their customers or we may license the technology to larger organizations for use in specified geographic areas or on other broad terms. In all cases, we evaluate the substance of the contractual arrangement and recognize revenues over the life of the contract as the earnings process is determined to be complete. We likewise charge our costs, including both capital expenditures and operating expenses, to operating costs in a manner which either matches these costs to the timing of expected revenues, where appropriate, or charges these costs to the accounting period in which they were incurred where it is not appropriate to capitalize or defer them to match with revenues. Depreciation, Depletion and Amortization. The depreciable base for oil and natural gas properties includes the sum of all capitalized costs net of DD&A, estimated future development costs and asset retirement costs not included in oil and natural gas properties, less costs excluded from amortization. The depreciable base of oil and natural gas properties is amortized using the unit-of-production method over total proved reserves. Other property including, leasehold improvements, office and computer equipment and vehicles which are stated at original cost and depreciated using the straight-line method over the useful lives of the assets, which range from three to seven years. Intangible Assets - Intellectual Property. The Company capitalizes the external costs, consisting primarily of legal costs, related to securing its patents, trademarks and other intellectual property. The costs of research, testing and development have been expensed as incurred. As of June 30, 2014, the cumulative costs capitalized in connection with our intellectual property was $346,520. The costs related to patents are amortized over the remaining life of the patent, whereas trademarks are perpetual and are not amortized. The remaining unamortized costs related to intellectual property as of June 30, 2014 was $319,470. Income Taxes. We recognize deferred tax assets and liabilities based on the differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that may result in taxable or deductible amounts in future years. The measurement of deferred tax assets may be reduced by a valuation allowance based upon management's assessment of available evidence if it is deemed more likely than not some or all of the deferred tax assets will not be realizable. We recognize a tax benefit from an uncertain position when it is more likely than not that the position will be sustained upon examination, based on the technical merits of the position and will record the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with a taxing authority. The Company classifies any interest and penalties associated with income taxes as income tax expense. Earnings (loss) per share. Basic earnings (loss) per share ("EPS") is computed by dividing earnings or loss by the weighted-average number of common shares outstanding less any non-vested restricted common stock outstanding. The computation of diluted EPS is similar to the computation of basic EPS, except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential dilutive common shares had been issued. Our potential dilutive common shares are our outstanding stock options, warrants, and non-vested restricted common stock. The dilutive effect of our potential dilutive common shares is reflected in diluted EPS by application of the treasury stock method. Under the treasury stock method, exercise of stock options and warrants shall be assumed at the beginning of the period (or at time of issuance, if later) and common shares shall be assumed to be issued; the proceeds from exercise shall be assumed to be used to purchase common stock at the average market price during the period; and the incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) shall be included in the denominator of the diluted EPS computation. Potential dilutive common shares are excluded from the computation if their effect is anti-dilutive. Including potential dilutive common shares in the denominator of a diluted EPS computation for continuing operations always will result in an anti-dilutive per-share amount when an entity has a loss from continuing operations and no potential dilutive common shares shall be included in the computation of diluted EPS when a loss from continuing operations exists.

Recent Accounting Pronouncements	12 Months Ended
Recent Accounting Pronouncements	Jun. 30, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements New Accounting Standards. We disclose the existence and potential effect of accounting standards issued but not yet adopted by us or recently adopted by us with respect to accounting standards that may have an impact on us in the future. In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. U.S. GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this ASU state that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Company adopted this guidance on July 1, 2014, and does not expect that its adoption will have a material impact on our financial position, cash flows, or results of operations. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers: (Topic 606) to provide guidance on revenue recognition on contracts with customers to transfer goods or services or on contracts for the transfer of nonfinancial assets. ASU 2014-09 requires that revenue recognition on contracts with customers depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will be effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company does not believe its future adoption of this guidance will have a material effect on its financial position, cash flows, or results of operations.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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-Subparagraph 6
-Article 10

+ Details

Property and Equipment

12 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 4—Property and Equipment

As of June 30, 2014 and June 30, 2013, our oil and natural gas properties and other property and equipment consisted of the following:



	June 30, 2014			June 30, 2013
Oil and natural gas properties
Property costs subject to amortization	$	47,166,282		$	42,772,184
Less: Accumulated depreciation, depletion, and amortization	(9,344,212		)	(8,095,856		)
Unproved properties not subject to amortization	—			4,112,704
Oil and natural gas properties, net	37,822,070			38,789,032
Other property and equipment
Furniture, fixtures and office equipment, at cost	343,178			322,514
Artificial lift technology equipment, at cost	377,943			—
Less: Accumulated depreciation	(296,294		)	(270,297		)
Other property and equipment, net	$	424,827		$	52,217

As of June 30, 2014, all oil and gas property costs incurred by the Company were being amortized. At June 30, 2013, $4.1 million of our unproved properties were not subject to amortization and consisted of unevaluated acreage in the Mississippi Lime project in Oklahoma. Our evaluation of impairment of unproved properties occurs, at a minimum, on a quarterly basis. During the year ended June 30, 2014, we transferred $4.5 million of Mississippi Lime property cost to the full cost pool as initial quantities of hydrocarbon production were indicative of impairment.

In early November 2012, the Company sold its Wood well in the Giddings Field to EnerVest LLC and received net proceeds of $250,000 and the buyer's assumption of all abandonment liabilities.

On December 24, 2012, the Company closed the sale of a portion of its producing and non-producing properties and assets in Brazos, Burleson, Fayette, Lee and Grimes Counties, Texas to ASM Oil and Gas Company, Inc. ("ASM") for an adjusted purchase price of $2,804,976 and the buyer's assumption of all abandonment liabilities.

On May 1, 2013, the Company informed Orion Exploration Partners, LLC that it had elected to forego payment of the $1,209,197 remaining balance of its original purchase cost of leasehold in the Mississippi Lime formation in Kay County in Oklahoma. Accordingly, our joint venture interest in initial undrilled leasehold was reduced from 45% to 33.9% under the terms of the Agreement.

On June 14, 2013, the Company closed a second sale to ASM for producing and non-producing properties and assets in Brazos, Burleson, and Fayette Counties, Texas and received net proceeds of $425,000 and the buyer's assumption of all abandonment liabilities.

On December 1, 2013, we sold our producing assets and undeveloped reserves in the Lopez Field in South Texas in return for proceeds of $402,500 and the buyer's assumption of all abandonment liabilities.

The net proceeds from these sales, including the reduction of asset retirement obligations, were recognized as a reduction of the cost of oil and gas properties.

Restructuring (Notes)

12 Months Ended

Jun. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring

On November 1, 2013, we undertook an initiative to refocus our business to GARP® development that resulted in adjustment of our workforce towards less emphasis on engineering and greater emphasis on sales and marketing. In exchange for severance and non-compete agreements with the terminated employees, we recorded a restructuring charge of approximately $1,332,186 representing $376,365 of stock-based compensation from the accelerated vesting of equity awards and $955,821 of severance compensation and benefits to be paid during the twelve months ended December 31, 2014. Our current estimate of remaining accrued restructuring charges as of June 30, 2014 is as follows:



Type of Cost	December 31, 2013		Payments			Adjustment to Cost			June 30, 2014
Salary continuation liability	$	615,721	$	(307,860	)	$	—		$	307,861
Incentive compensation costs	185,525		—			—			185,525
Other benefit costs and employer taxes	154,575		(78,549		)	(39,000		)	37,026
Accrued restructuring charges	$	955,821	$	(386,409	)	$	(39,000	)	$	530,412

Accrued Liabilities and Other (Notes)

12 Months Ended

Jun. 30, 2014

Other Liabilities Disclosure [Abstract]

Accrued Liabilities and Other

As of June 30, 2014 and June 30, 2013 our other current liabilities consisted of the following:



	June 30, 2014		June 30, 2013

Accrued incentive and other compensation	$	1,358,653	$	1,385,494
Accrued restructuring charges	530,412		—
Officer retirement costs	288,258		—
Asset retirement obligations due within one year	146,703		—
Accrued royalties	89,179		91,427
Accrued franchise taxes	87,575		94,116
Other accrued liabilities	57,224		59,066
Accrued liabilities and other	$	2,558,004	$	1,630,103

The officer retirement costs of $288,258 at June 30, 2014 reflects remaining payments to be made to the Company’s former Vice President and Chief Financial Officer under his February 14, 2014, retirement arrangement. In February the Company recorded a $608,000 charge including $204,000 of stock compensation from the accelerated vesting of his equity awards on February 15, 2014, together with $356,000 of salary and incentive compensation, and $48,000 of benefit payments to be paid during the twelve months ended February 14, 2015.

Asset Retirement Obligations

12 Months Ended

Jun. 30, 2014

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

Note 7—Asset Retirement Obligations

Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon and remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following is a reconciliation of the beginning and ending asset retirement obligation for the years ended June 30, 2014 and 2013:



	Years Ended
	2014			2013
Asset retirement obligations—beginning of period	$	615,551		$	968,677
Liabilities incurred	—			60,143
Liabilities settled	(323,665		)	(51,086		)
Liabilities sold	(48,273		)	(439,927		)
Accretion of discount	41,626			72,312
Revisions to previous estimates	66,976			5,432
Less: current asset retirement obligations	(146,703		)	—
Asset retirement obligations—end of period	$	205,512		$	615,551

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Jun. 30, 2014
Equity [Abstract]
Stockholders' Equity	Note 8—Stockholders' Equity Common Stock On August 31, 2011, the Board of Directors authorized the issuance of 161,861 shares of restricted common stock from the 2004 Stock Plan to all employees as a long-term incentive award. Total stock-based compensation expense of $1,029,436 related to the long-term incentive award will be recognized ratably over a period of four years as the restricted common stock vests. See Note 9 - Stock-Based Incentive Plan. On December 5, 2011, a total of 34,245 shares of our restricted common stock were issued pursuant to the 2004 Stock Plan to five outside directors as part of their annual board compensation for calendar year 2012. The value of the shares issued was $249,955, based on the fair market value on the date of issuance. All issuances of our common stock were subject to vesting terms per individual stock agreements, which is one year for directors. See Note 9 - Stock-Based Incentive Plan. On September 6, 2012, the Board of Directors authorized and the Company issued 154,227 shares of restricted common stock from the 2004 Stock Plan to all employees as a long-term incentive award. Total stock-based compensation expense of $1,223,020 related to the long-term incentive award will be recognized ratably over a four years period as the restricted common stock vests. See Note 9 - Stock-Based Incentive Plan. On December 6, 2012, a total of 31,970 shares of our restricted common stock were issued pursuant to the 2004 Stock Plan to five outside directors as part of their annual board compensation for calendar year 2013. The value of the shares issued was $249,973 based on the fair market value on the date of issuance. All issuances of our common stock were subject to vesting terms per individual stock agreements, which is one year for directors. See Note 9 - Stock-Based Incentive Plan. On December 5, 2013, a total of 16,476 shares of our restricted common stock were issued pursuant to the 2004 Stock Plan to five outside directors as part of their annual board compensation for calendar year 2014. The value of the shares issued was $200,019 based on the fair market value on the date of issuance. All issuances of our common stock were subject to vesting terms per individual stock agreements, which is one year for directors. See Note 9 - Stock-Based Incentive Plan. During the year ended June 30, 2014, we issued (i) 1,568,832 shares of our common stock upon the exercise of incentive stock options (ISOs), receiving cash proceeds totaling $3,252,801, and (ii) 2,635,696 of our common shares upon cashless exercises of nonqualified stock options ("NQSOs") and incentive warrants, all being exercised on a net basis, except for 50,956 of previously acquired shares owned by option holders that were swapped in payment of the exercise price. The weighted average cost of these swapped shares was $12.14. In fiscal 2014, we retired 801,889 shares of treasury stock acquired in previous fiscal years at a cost of $1,019,840 and 186,714 treasury shares acquired during fiscal 2014 from employees and directors at an average cost of $12.18 per share or $2,273,857. The shares acquired in 2014 were received in satisfaction of payroll tax liabilities from the exercise of stock options and vesting of restricted stock (requiring cash outlays by us) and 50,956 shares were received from option holders in cashless stock option exercises, using stock previously owned by the option holder. During the year ended June 30, 2014, as the result of a common stock dividend policy approved in November 2013 by the Board of Directors, we paid three quarterly cash dividends to our common shareholders, totaling $9,723,833, from retained earnings. The cash dividends were paid at a quarterly rate of $0.10 per common share. The large tax deductions related to the fiscal 2014 exercises of stock options and warrants result in a deficit in our current year earnings and profits, as defined for tax purposes, and accordingly, the cash dividends on common shares paid in fiscal 2014 will be treated for tax purposes as a return of capital and not as dividend income to the shareholders. Since the tax benefits related to stock-based compensation created by fiscal year 2014 exercises of warrants and NQSOs result in a deficit in current year earnings and profits, as defined for tax purposes, all cash dividends on common shares paid in fiscal 2014 will be treated for tax purposes as a return of capital and not as dividend income to the shareholders. Recovery of Stockholder Short Swing Profit In September 2013, an executive officer of the Company paid $6,850 to the Company, representing the disgorgement of short swing profits under Section 16(b) under the Exchange Act. The amount was recorded as additional paid-in capital. Series A Cumulative Perpetual Preferred Stock During the year ended June 30, 2012, we sold 317,319 shares of our 8.5% Series A Cumulative (perpetual) Preferred Stock at a weighted average sales price of $23.80 per share, with a liquidation preference of $25.00 per share. All shares were underwritten or sold through McNicoll Lewis & Vlak LLC (MLV), 220,000 of which were sold in an underwritten public offering and 97,319 shares of which were sold under an at-the-market sales agreement ("ATM"), providing aggregate net proceeds of $6,930,535 after market discounts, underwriting fees, legal and other expenses of the offerings. The Series A Cumulative Preferred Stock cannot be converted into our common stock and there are no sinking fund or redemption rights available to holders thereof. Optional redemption can be made by us at any time after July 1, 2014 for the stated liquidation value of $25.00 per share plus accrued dividends. With respect to dividend rights and rights upon our liquidation, winding-up or dissolution, the Series A Preferred Stock ranks senior to our common shareholders, but subordinate to any of our existing and future debt. Dividends on the Series A Cumulative Preferred Stock accrue and accumulate at a fixed rate of 8.5% per annum on the $25.00 per share liquidation preference, payable monthly at $0.177083 per share, as, if and when declared by our Board of Directors. We paid dividends of $674,302, $674,302, and $630,391 to holders of our Series A Preferred Stock during the years ended June 30, 2014, 2013 and 2012 , respectively. The large tax deductions related to the fiscal 2014 exercises of stock options and warrants result in a deficit in our current year earnings and profits, as defined for tax purposes, and accordingly, the cash dividends on the Series A Preferred Stock paid in fiscal 2014 will be treated for tax purposes as a return of capital and not as dividend income to the shareholders.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

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-Paragraph d
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
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-Article 3

+ Details

Stock-Based Incentive Plan

12 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Incentive Plan

We have granted option awards to purchase common stock (the "Stock Options"), restricted common stock awards ("Restricted Stock"), and/or unrestricted fully vested common stock, to employees, directors, and consultants of the Company under the Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan (the "Plan"). The Plan authorized the issuance of 6,500,000 shares of common stock and 812,281 shares remain available for grant as of June 30, 2014.

Stock Options and Incentive Warrants

Non-cash stock-based compensation expense related to Stock Options for the years ended June 30, 2014, 2013 and 2012 was $0, $26,274 and $327,776, respectively. As of August 31, 2012, all compensation costs attributable to Stock Options had been recognized. No Stock Options have been granted since August 2008.

The following summary presents information regarding outstanding Stock Options as of June 30, 2014, and the changes during the fiscal year:



	Number of Stock Options		Weighted Average Exercise Price		Aggregate Intrinsic Value(1)		Weighted Average Remaining Contractual Term (in years)
Stock Options and Incentive Warrants outstanding at June 30, 2013	4,822,820		$	1.99
Granted	—		—
Exercised	(4,644,759	)	$	1.99
Canceled or forfeited	—		—
Expired	—		—
Stock Options and Incentive Warrants outstanding at June 30, 2014	178,061		$	2.08	$	1,580,075	1.75
Vested or expected to vest at June 30, 2014	178,061		$	2.08	$	1,580,075	1.75
Exercisable at June 30, 2014	178,061		$	2.08	$	1,580,075	1.75

_______________________________________________________________________________


(1)	Based upon the difference between the market price of our common stock on the last trading date of the period ($10.95 as of June 30, 2014) and the Stock Option or Incentive Warrant exercise price of in-the-money Stock Options and Incentive Warrants.

For the year ended June 30, 2014, there were 4,644,759 Stock Options and Incentive Warrants exercised with an aggregate intrinsic value of $47,504,114. For the year ended June 30, 2013, there were 550,000 Stock Options exercised, with an aggregate intrinsic value of $5,233,480. For the year ended June 30, 2012, there were 20,000 Stock Options exercised with an aggregate intrinsic value of $54,000.

During the years ended June 30, 2014, 2013, and 2012, there were 0, 18,922, and 154,955 Stock Options and Incentive Warrants that vested with a total grant date fair value of $0, $46,359, and $336,252, respectively.

Restricted Stock

For the years ended June 30, 2014, 2013, and 2012, we recognized stock-based compensation expense related to Restricted Stock grants of $1,728,687, $1,505,471, and $1,148,219, respectively. Of total stock compensation expense for the year end June 30, 2014, $376,365 was incurred in connection our second quarter restructuring. See Note 5 - Restructuring.

The following table sets forth the Restricted Stock transactions for the year ended June 30, 2014:



	Number of Restricted Shares		Weighted Average Grant-Date Fair Value
Unvested at June 30, 2013	386,599		$	6.65
Granted	39,732		$	12.58
Vested	(277,198	)	$	6.48
Forfeited	(9,066	)	$	5.98
Unvested at June 30, 2014	140,067		$	8.70

During the years ended June 30, 2014, 2013, and 2012, there were 277,198, 277,198, and 239,195 shares of Restricted Stock that vested with a total grant date fair value of $1,796,243, $1,427,570, and $1,078,769, respectively.

At June 30, 2014, unrecognized stock compensation expense related to Restricted Stock grants totaled $997,403. Such unrecognized expense will be recognized over a weighted average remaining service period of 2.1 years.

Supplemental Disclosure of Cash Flow Information

12 Months Ended

Jun. 30, 2014

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosure of Cash Flow Information

Note 10—Supplemental Disclosure of Cash Flow Information

Our supplemental disclosures of cash flow information for the years ended June 30, 2014, 2013, and 2012 are as follows:



	June 30,
	2014			2013			2012
Income taxes paid	$	755,941		$	699,874		$	895,000
Non-cash transactions:
Change in accounts payable used to acquire property and equipment	$	(183,766	)	$	(1,535,322	)	$	1,761,633
Oil and natural gas property costs attributable to the recognition of asset retirement obligations	$	66,976		$	65,575		$	93,522
Previously acquired Company shares swapped by holders to pay stock option exercise price	$	618,606		$	—		$	—

Income Taxes

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes

We file a consolidated federal income tax return in the United States and various combined and separate filings in several state and local jurisdictions.

There were no unrecognized tax benefits nor any accrued interest or penalties associated with unrecognized tax benefits during the years ended June 30, 2014, 2013 and 2012. We believe that we have appropriate support for the income tax positions taken and to be taken on the Company's tax returns and that the accruals for tax liabilities are adequate for all open years based on our assessment of many factors including past experience and interpretations of tax law applied to the facts of each matter. The Company's tax returns are open to audit under the statute of limitations for the years ending June 30, 2010 through June 30, 2013 for federal tax purposes and for the years ended June 30, 2010 through June 30, 2013 for state tax purposes.

The components of our income tax provision (benefit) are as follows:



	June 30, 2014		June 30, 2013			June 30, 2012
Current:
Federal	$	386,018	$	857,480		$	309,632
State	161,168		659,303			841,698
Total current income tax provision	547,186		1,516,783			1,151,330
Deferred:
Federal	1,319,727		2,546,495			2,542,662
State	25,085		(33,517		)	6,930
Total deferred income tax provision	1,344,812		2,512,978			2,549,592
Total income tax provision	$	1,891,998	$	4,029,761		$	3,700,922

The following table presents the reconciliation of our income taxes calculated at the statutory federal tax rate, currently 34%, to the income tax provision in our financial statements. The effective tax rate for all years is in excess of the statutory rate as a result of state income taxes, primarily in the state of Louisiana, with smaller adjustments related to stock-based compensation and other permanent differences.



	June 30, 2014			June 30, 2013			June 30, 2012
Income tax provision (benefit) computed at the statutory federal rate:	$	1,866,366		$	3,623,784		$	3,003,238
Reconciling items:
State income taxes, net of federal tax benefit	189,081			413,019			560,095
Permanent differences related to stock-based compensation	(155,817		)	8,933			83,115
Expiring NOLs related to 2004 reverse merger	—			600,964			4,348,495
Deferred tax asset valuation adjustment	—			(600,964		)	(4,348,495		)
Other permanent differences	(7,632		)	(15,975		)	54,474
Income tax provision	$	1,891,998		$	4,029,761		$	3,700,922

Deferred income taxes primarily represent the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are classified as either current or noncurrent on the balance sheet based on the classification of the related asset or liability for financial reporting purposes. Deferred tax assets and liabilities not related to specific assets or liabilities on the financial statements are classified according the expected reversal date of the temporary difference or the expected utilization date for tax attribute carryforwards. The change in the NOL is primarily due to expiring NOLs related to the 2004 reverse merger as well as utilization of NOL to offset potential current year taxable income. The components of our deferred taxes are detailed in the table below:



	June 30, 2014			June 30, 2013			June 30, 2012
Deferred tax assets:
Non-qualified stock-based compensation	$	134,469		$	774,673		$	774,720
Net operating loss carry-forwards	427,249			427,249			1,336,769
AMT credit carry-forward*	701,254			502,466			714,571
Other	165,775			28,170			29,929
Gross deferred tax assets	1,428,747			1,732,558			2,855,989
Valuation allowance	(292,446		)	(292,446		)	(893,410		)
Total deferred tax assets	1,136,301			1,440,112			1,962,579
Deferred tax liability:
Oil and natural gas properties	(10,873,949		)	(9,832,948		)	(7,842,437		)
Total deferred tax liability	(10,873,949		)	(9,832,948		)	(7,842,437		)
Net deferred tax liability	$	(9,737,648	)	$	(8,392,836	)	$	(5,879,858	)

_______________________________________________________________________________


*	Total AMT credit carry-forward is $824,087. Our net deferred tax liability does not include $122,833 of AMT credit carry-forward associated with the tax benefit related to stock-based compensation.

As of June 30, 2014, we have a federal tax loss carryforward of approximately $28.9 million, consisting of $27.6 million of tax deductions in excess of book deductions related to the exercise of stock options and incentive warrants in fiscal 2014, and $1.3 million of remaining tax loss carryforwards that we acquired through the reverse merger in May 2004. The majority of the tax loss carryforwards from the reverse merger have expired without being utilized. We will be able to utilize a maximum of $0.4 million of these carryforwards in equal annual amounts through 2023 and the balance is not able to be utilized based on the provisions of IRC Section 382. We have recorded a valuation allowance for the portion of our net operating loss that is limited by IRC Section 382.

The tax loss carry-forward of $27.6 million and future tax benefits resulting from the fiscal 2014 exercise of 4.6 million of our 4.8 million outstanding stock options and incentive warrants will not affect our future tax provision for financial reporting purposes, nor are we able to recognize a deferred tax asset for these future benefits. When we receive these tax benefits as a reduction of future cash taxes that would otherwise be payable, we will recognize that benefit as an increase in additional paid in capital.

In addition, as of June 30, 2014, the Company has an estimated carryforward of percentage depletion in excess of basis of approximately $9.1 million. These future deductions are limited to 65% of taxable income in any period.

Related Party Transactions	12 Months Ended
Related Party Transactions	Jun. 30, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions On June 30, 2011, we entered into a Technology Assignment Agreement with the Company’s Vice President of Operations to acquire exclusive, perpetual, non-cancelable rights to the patented GARP® technology he developed while employed by the Company. Under the agreement, he is paid a fee when the technology is employed. For the years ended June 30, 2014, 2013 and 2012, we made payments of $10,113, $10,113 and $20,000, respectively, under the agreement.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Net Income Per Share

12 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:



	June 30,
	2014		2013		2012
Numerator
Net income attributable to common shareholders	$	2,923,011	$	5,954,126	$	4,501,739
Denominator
Weighted average number of common shares—Basic	30,895,832		28,205,467		27,784,298
Effect of dilutive securities:
Common stock warrants issued in connection with equity and financing transactions	—		878		63,319
Stock Options and Incentive Warrants	1,668,235		3,768,786		3,762,312
Total weighted average dilutive securities	1,668,235		3,769,664		3,825,631
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	32,564,067		31,975,131		31,609,929
Net income per common share—Basic	$	0.09	$	0.21	$	0.16
Net income per common share—Diluted	$	0.09	$	0.19	$	0.14

Outstanding potentially dilutive securities as of June 30, 2014 are as follows:



Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at June 30, 2014
Common stock warrants issued in connection with equity and financing transactions	$	—	—
Stock Options	$	2.08	178,061
Total	$	2.08	178,061

Outstanding potentially dilutive securities as of June 30, 2013 are as follows:



Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at June 30, 2013
Common stock warrants issued in connection with equity and financing transactions	$	2.50	1,165
Stock Options and Incentive Warrants	$	1.99	4,822,820
Total	$	1.99	4,823,985

Outstanding potentially dilutive securities as of June 30, 2012 are as follows:



Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at June 30, 2012
Common stock warrants issued in connection with equity and financing transactions	$	2.50	1,165
Stock Options and Incentive Warrants	$	1.83	5,485,820
Total	$	1.83	5,486,985

Unsecured Revolving Credit Agreement	12 Months Ended
Unsecured Revolving Credit Agreement	Jun. 30, 2014
Debt Disclosure [Abstract]
Unsecured Revolving Credit Agreement	Note 14—Unsecured Revolving Credit Agreement On February 29, 2012, Evolution Petroleum Corporation entered into a Credit Agreement (the "Credit Agreement") with Texas Capital Bank, N.A. (the "Lender"). The Credit Agreement provides the Company with a revolving credit facility (the "facility") in an amount up to $50,000,000 with availability governed by an Initial Borrowing Base of $5,000,000. A portion of the facility not in excess of $1,000,000 is available for the issuance of letters of credit. The facility is unsecured and has a term of four years. The Company's subsidiaries guarantee the Company's obligations under the facility. The proceeds of any loans under the facility are to be used by the Company for the acquisition and development of oil and gas properties, as defined in the facility, the issuance of letters of credit, and for working capital and general corporate purposes. Semi-annually, the borrowing base and a monthly reduction amount are re-determined from reserve reports. Requests by the Company to increase the $5,000,000 initial amount are subject to the Lender's credit approval process, and are also limited to 25% of the value our oil and gas properties, as defined. At the Company's option, borrowings under the facility bear interest at a rate of either (i) an Adjusted LIBOR rate (LIBOR rate divided by the remainder of 1 less the Lender's Regulation D reserve requirement), or (ii) an adjusted Base Rate equal to the greater of the Lender's prime rate or the sum of 0.50% plus the Federal Fund Rate. A maximum of three LIBOR based loans can be outstanding at any time. Allowed loan interest periods are one, two, three and six months. LIBOR interest is payable at the end of the interest period except for six-month loans for which accrued interest is payable at three months and at end of term. Base Rate interest is payable monthly. Letters of credit bear fees of 3.5% per annum rate applied to the principal amount and are due when transacted. The maximum term of letters of credit is one year. A commitment fee of 0.50% per annum accrues on unutilized availability and is payable quarterly. The Company is responsible for certain administrative expenses of the Lender over the life of the Credit Agreement as well as $50,000 in loan costs incurred upon closing. The Credit Agreement also contains financial covenants including a requirement that the Company maintain a current ratio of not less than 1.5 to 1; a ratio of total funded Indebtedness to EBITDA of not more than 2.5 to 1, and a ratio of EBITDA to interest expense of not less than 3 to 1. The agreement specifies certain customary covenants, including restrictions on the Company and its subsidiaries from pledging their assets, incurring defined Indebtedness outside of the facility other that permitted indebtedness, and it restricts certain asset sales. Payments of dividends for the Series A Preferred are only restricted by the EBITDA to interest coverage ratio, wherein such dividends are a 1X deduction from EBITDA (as opposed to a 3:1 requirement if dividends were treated as interest expense). The Credit Agreement contains customary events of default. If an event of default occurs and is continuing, the Lender may declare any amounts outstanding under the Credit Agreement to be immediately due and payable. As of June 30, 2014 and 2013, the Company had no borrowings and no outstanding letters of credit issued under the facility, resulting in an available borrowing base capacity of $5,000,000, and we are in compliance with all the covenants of the Credit Agreement. During the year the Lender waived the provisions of the Credit Agreement pertaining to the past payments of cash dividends on our common stock, and the Credit Agreement was amended to permit the payment of cash dividends on common stock in the future if no borrowings are outstanding at the time of such payment. In connection with this agreement the Company incurred $179,468 of debt issuance costs, which have been capitalized in Other Assets and are being amortized on a straight-line basis over the term of the agreement. The unamortized balance in debt issuance costs related to the Credit Agreement was $81,047 as of June 30, 2014. The Company is in discussions with the Lender to replace the unsecured Credit Agreement with an expanded secured facility. As of June 30, 2014, the Company had incurred approximately $63,535 in legal and title costs related to this proposed agreement, which are also capitalized in Other Assets.

Commitments and Contingencies

12 Months Ended

Jun. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 15—Commitments and Contingencies

We are subject to various claims and contingencies in the normal course of business. In addition, from time to time, we receive communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdiction in which we operate. We disclose such matters if we believe it is reasonably possible that a future event or events will confirm a loss through impairment of an asset or the incurrence of a liability. We accrue a loss if we believe it is probable that a future event or events will confirm a loss and we can reasonably estimate such loss and we do not accrue future legal costs related to that loss. Furthermore, we will disclose any matter that is unasserted if we consider it probable that a claim will be asserted and there is a reasonable possibility that the outcome will be unfavorable. We expense legal defense costs as they are incurred.

The Company and its wholly owned subsidiary are defendants in a lawsuit brought by John C. McCarthy et. al in the Fifth District Court of Richland Parish, Louisiana in July 2011. The plaintiffs alleged, among other claims, that we fraudulently and wrongfully purchased plaintiffs’ income royalty rights in the Delhi Field Unit in the Holt-Bryant Reservoir in May 2006. On March 29, 2012, the Fifth District Court dismissed the case against the Company and our wholly owned subsidiary NGS Sub Corp. The Court found that plaintiffs had “no cause of action” under Louisiana law, assuming that the Plaintiff’s claims were valid on their face. Plaintiffs filed an appeal and the Louisiana Second Circuit Court of Appeal affirmed the dismissal, but allowed the plaintiffs to amend their petition to state a different possible cause of action. The plaintiffs amended their claim and re-filed with the district court. The plaintiffs are seeking cancellation of the lease and monetary damages. We subsequently filed a second motion pleading “no cause of action,” with which the district court again agreed and dismissed the plaintiffs’ case on September 23, 2013. Plaintiffs again filed an appeal in November 2013.

On October 14, 2013, a settlement agreement was executed in the lawsuit filed by Frederick M. Garcia and Lydia Garcia, et. al and the lawsuit was dismissed with prejudice on November 5, 2013. As previously reported, on July 26, 2012, we agreed to settle a lawsuit filed by Frederick M. Garcia and Lydia Garcia in December 2010 in Duval County, Texas, in which the plaintiffs alleged failure to maintain the lease beyond its primary term due to no production. Although we believed that the claims were without merit, we chose to settle for $67,000 in return for an extension of the primary term of the lease, an amount less than our expected cost to prevail in court through summary judgment.

As previously reported, on August 23, 2012, we and our wholly-owned subsidiary, NGS Sub Corp., and Robert S. Herlin, our President and Chief Executive Officer, were served with a lawsuit filed in federal court by James H. and Kristy S. Jones (the “Jones lawsuit”) in the Western District Court of the Monroe Division, Louisiana. The plaintiffs allege primarily that we (defendants) wrongfully purchased the plaintiffs’ 0.048119 overriding royalty interest in the Delhi Unit in January 2006 by failing to divulge the existence of an alleged previous agreement to develop the Delhi Field for EOR. The plaintiffs are seeking rescission of the assignment of the overriding royalty interest and monetary damages. We believe that the claims are without merit and are not timely, and we are vigorously defending against the claims. We filed a motion to dismiss for failure to state a claim under Federal Rule of Civil Procedure 12(b) (6) on April 1, 2013. On September 17, 2013, the federal court in the Western District Court of the Monroe Division, Louisiana, dismissed a portion of the claims and allowed the plaintiffs to pursue the remaining portion of the claims. Our motion to dismiss was for lack of cause of action, assuming that the plaintiff’s claims were valid on their face. On September 25, 2013, plaintiff Jones filed a motion to alter or amend the September 17, 2013 judgment. On December 27, 2013, the court denied said plaintiffs’ motion, and on January 21, 2014, we filed a motion to reconsider the nondismissal of the remaining claims, which was denied. Counsel has advised us that, based on information developed to date, the risk of loss in this matter is remote.

On December 13, 2013, we and our wholly-owned subsidiaries, Tertiaire Resources Company and NGS Sub. Corp., filed a lawsuit in the 133rd Judicial District Court of Harris County, Texas, against Denbury Onshore, LLC (“Denbury”) alleging breaches of certain 2006 agreements between the parties regarding the Delhi Field in Richland Parish, Louisiana. The specific allegations include improperly charging the payout account for capital expenditures and costs of capital, failure to adhere to preferential rights to participate in acquisitions within the defined area of mutual interest, breach of the promises to assume environmental liabilities and fully indemnify us from such costs, and other breaches. We are seeking declaration of the validity of the 2006 agreements and recovery of damages and attorneys’ fees. Denbury subsequently filed counterclaims, including the assertion that we owed Denbury additional revenue interests pursuant to the 2006 agreements and that our transfer of our reversionary working interest from our wholly owned subsidiary to our parent corporation and subsequently to another wholly owned subsidiary breached their preferential right to purchase. We have denied their counterclaims as being without merit and not timely.

On December 3, 2013, our wholly owned subsidiary, NGS Sub. Corp., was served with a lawsuit filed in the 8th Judicial District Court of Winn Parish, Louisiana by Cecil M. Brooks, a resident of Louisiana, alleging that a former subsidiary of NGS Sub. Corp. improperly disposed of water from an off-lease well into a well located on the plaintiff’s land in Winn Parish in 2006. The plaintiff is requesting monetary damages and other relief. NGS Sub. Corp. disposed of the property in question along with its ownership of the subsidiary in 2008 to a third party. We have denied the claims.

Lease Commitments. We have a non-cancelable operating lease for office space that expires on August 1, 2016. Future minimum lease commitments as of June 30, 2014 under this operating lease are as follows:



For the year ended June 30,
2015	$	159,011
2016	159,011
2017	13,251

Total	$	331,273

Rent expense for the years ended June 30, 2014, 2013, and 2012 was $174,229, $147,233, and $147,233, respectively.

Employment Contracts. We have entered into employment agreements with two of the Company's senior executives. The employment contracts provide for severance payments in the event of termination by the Company for any reason other than cause or permanent disability, or in the event of a constructive termination, as defined. The agreements provide for the payment of base pay and certain medical and disability benefits for periods ranging form 6 months to 1 year after termination. The total contingent obligations under the employment contracts as of June 30, 2014 was approximately $591,000.

Concentrations of Credit Risk

12 Months Ended

Jun. 30, 2014

Risks and Uncertainties [Abstract]

Concentrations of Credit Risk

Major Customers. We market all of our oil and natural gas production from the properties we operate. The majority of our operated gas, oil and condensate production is sold to a variety of purchasers under short-term (less than 12 months) contracts at market-based prices. The following table identifies customers from whom we derived 10 percent or more our net oil and natural gas revenues during the years ended June 30, 2014, 2013, and 2012. Based on the current demand for oil and natural gas and availability of other customers, we do not believe the loss of any of these customers would have a significant effect on our operations or financial condition.



	Year Ended June 30,
Customer	2014		2013		2012
Plains Marketing L.P. (includes Delhi production)	96	%	90	%	84	%
Enterprise Crude Oil LLC	2	%	4	%	7	%
Flint Hills	1	%	2	%	1	%
ETC Texas Pipeline, LTD.	1	%	—	%	3	%
All others	—	%	4	%	5	%
Total	100	%	100	%	100	%

Accounts Receivable. Substantially all of our accounts receivable result from uncollateralized oil and natural gas sales to third parties in the oil and natural gas industry. This concentration of customers may impact our overall credit risk in that these entities may be similarly affected by changes in economic and other conditions.

Cash and Cash Equivalents and Certificates of Deposit. We are subject to concentrations of credit risk with respect to our cash and cash equivalents, which we attempt to minimize by maintaining our cash and cash equivalents in high quality money market funds. At times, cash balances may exceed limits federally insured by the Federal Deposit Insurance Corporation ("FDIC"). Our certificates of deposit are below or at the maximum federally insured limit set by the FDIC.

Retirement Plan	12 Months Ended
Retirement Plan	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Retirement Plan	Retirement Plan Effective February 1, 2007, we implemented a 401(k) Savings Plan which covers all full-time employees. We currently match 100% of employees' contributions to the plan, to a maximum of the first 6% of each participant's compensation, with Company contributions fully vested when made. Our matching contributions to the Savings Plan totaled $116,873, $89,810, and $84,738 for the years ended June 30, 2014, 2013, and 2012, respectively.

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited)

12 Months Ended

Jun. 30, 2014

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited)

Note 18—Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited)

Costs incurred for oil and natural gas property acquisition, exploration and development activities

The following table summarizes costs incurred and capitalized in oil and natural gas property acquisition, exploration and development activities. Property acquisition costs are those costs incurred to lease property, including both undeveloped leasehold and the purchase of reserves in place. Exploration costs include costs of identifying areas that may warrant examination and examining specific areas that are considered to have prospects containing oil and natural gas reserves, including costs of drilling exploratory wells, geological and geophysical costs and carrying costs on undeveloped properties. Development costs are incurred to obtain access to proved reserves, including the cost of drilling. Exploration and development costs also include amounts incurred due to the recognition of asset retirement obligations, of $66,976, $65,575, and $93,522, during the years ended June 30, 2014, 2013, and 2012 , respectively.



	For the Years Ended June 30,
	2014		2013		2012
Oil and natural gas activities
Property acquisition costs:
Proved property	$	—	$	26,449	$	115,637
Unproved property	47,344		195,599		5,544,217
Exploration costs	757,423		4,356,640		3,016,924
Development costs	18,566		79,035		238,463
Total costs incurred for oil and natural gas activities	$	823,333	$	4,657,723	$	8,915,241

Estimated Net Quantities of Proved Oil and Natural Gas Reserves

The following estimates of the net proved oil and natural gas reserves of our oil and gas properties located entirely within the United States of America are based on evaluations prepared by third-party reservoir engineers. Reserve volumes and values were determined under the method prescribed by the SEC for our fiscal years ended June 30, 2014, 2013, and 2012, which requires the application of the previous 12 months unweighted arithmetic average first-day-of-the-month price, and current costs held constant throughout the projected reserve life, when estimating whether reserve quantities are economical to produce.

Proved oil and natural gas reserves are estimated quantities of crude oil, natural gas and natural gas liquids that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed oil and natural gas reserves are reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. There are uncertainties inherent in estimating quantities of proved oil and natural gas reserves, projecting future production rates, and timing of development expenditures. Accordingly, reserve estimates often differ from the quantities of oil and natural gas that are ultimately recovered.

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves for each of the periods indicated were as follows:



	Crude Oil (Bbls)		Natural Gas Liquids (Bbls)		Natural Gas (Mcf)		BOE
Proved developed and undeveloped reserves:
June 30, 2011	11,567,846		712,300		9,403,899		13,847,462
Revisions of previous estimates	84,219		(212,677	)	(1,295,893	)	(344,440	)
Improved recovery, extensions and discoveries	137,634		5,461		18,925		146,249
Production (sales volumes)	(151,081	)	(12,611	)	(266,775	)	(208,155	)
June 30, 2012	11,638,618		492,473		7,860,156		13,441,116
Revisions of previous estimates (a)	1,826,053		975,515		27,679		2,806,181
Sales of minerals in place	(485,536	)	(480,832	)	(7,726,032	)	(2,254,038	)
Production (sales volumes)	(196,380	)	(7,271	)	(139,006	)	(226,819	)
June 30, 2013	12,782,755		979,885		22,797		13,766,440
Revisions of previous estimates (b)	(1,919,052	)	1,269,588		2,412,677		(247,350	)
Improved recovery, extensions and discoveries	17,146		32,731		498,044		132,884
Sales of minerals in place	(184,722	)	—		—		(184,722	)
Production (sales volumes)	(169,783	)	(3,516	)	(26,655	)	(177,742	)
June 30, 2014	10,526,344		2,278,688		2,906,863		13,289,510
Proved developed reserves:
June 30, 2011	4,986,337		100,900		1,543,401		5,344,471
June 30, 2012	7,670,934		111,978		1,499,382		8,032,809
June 30, 2013	10,077,522		8,539		22,797		10,089,861
June 30, 2014	7,858,224		32,164		481,042		7,970,562

(a) A significant upward reserve revision occurred in the Delhi Field during fiscal 2013 as a result of (1) revised geological maps based on production results and acquired seismic data, (2) inclusion of an additional reservoir with similar features, production history and suitability for EOR, and (3) inclusion of natural gas processing at Delhi.

(b) Significant reserve revisions occurred in the Delhi Field during fiscal 2014. As a result of an adverse fluid release event in the Field, certain oil reserves were reclassified from proved to an unproved category based on the operator's decision to defer CO2 injections in certain parts of the Field. There was a positive revision to estimated proved reserves of natural gas liquids and natural gas as a result of an improved design for the gas plant in the Delhi Field. The plant is expected to significantly increase recoveries of these products, particularly natural gas, which was not previously planned to be extracted from the injection volumes.

Standardized Measure of Discounted Future Net Cash Flows

Future oil and natural gas sales and production and development costs have been estimated using prices and costs in effect at the end of the years indicated, as required by ASC 932, Disclosures about Oil and Gas Producing Activities ("ASC 932"). ASC 932 requires that net cash flow amounts be discounted at 10%. Future production and development costs are computed by estimating the expenditures to be incurred in developing and producing our proved oil and natural gas reserves assuming continuation of existing economic conditions. Future income tax expenses are computed by applying the appropriate period-end statutory tax rates to the future pretax net cash flow relating to our proved oil and natural gas reserves, less the tax basis of the related properties. The future income tax expenses do not give effect to tax credits, allowances, or the impact of general and administrative costs of ongoing operations relating to the Company's proved oil and natural gas reserves. Changes in the demand for oil and natural gas, inflation, and other factors make such estimates inherently imprecise and subject to substantial revision. The table below should not be construed to be an estimate of the current market value of our proved reserves.

The standardized measure of discounted future net cash flows related to proved oil and natural gas reserves as of June 30, 2014, 2013, and 2012 are as follows:



	For the Years Ended June 30,
	2014			2013			2012
Future cash inflows	$	1,193,515,075		$	1,436,980,607		$	1,355,686,188
Future production costs and severance taxes	(475,387,931		)	(510,902,614		)	(458,716,938		)
Future development costs	(46,154,178		)	(60,742,406		)	(38,458,724		)
Future income tax expenses	(195,581,510		)	(275,113,560		)	(296,703,838		)
Future net cash flows	476,391,456			590,222,027			561,806,688
10% annual discount for estimated timing of cash flows	(250,313,784		)	(283,001,328		)	(278,209,195		)
Standardized measure of discounted future net cash flows	$	226,077,672		$	307,220,699		$	283,597,493

Future cash inflows represent expected revenues from production of period-end quantities of proved reserves based on the previous 12 months unweighted arithmetic average first-day-of-the-month commodity prices for each year and reflect adjustments for lease quality, transportation fees, energy content and regional price differentials.



	Year Ended June 30,
	2014				2013				2012
	Oil (Bbl)		Gas (MMBtu)		Oil (Bbl)		Gas (MMBtu)		Oil (Bbl)		Gas (MMBtu)
NYMEX prices used in determining future cash flows	$	100.37	$	4.10	$	91.51	$	3.44	$	95.67	$	3.15

The NGL price utilized for future cash inflows was based on the historical price received.

A summary of the changes in the standardized measure of discounted future net cash flows applicable to proved crude oil, natural gas liquids, and natural gas reserves is as follows:



	For the Years Ended June 30,
	2014			2013			2012
Balance, beginning of year	$	307,220,699		$	283,597,493		$	228,447,954
Net changes in sales prices and production costs related to future production	(73,439,526		)	(35,184,725		)	76,942,613
Changes in estimated future development costs	9,848,614			(566,125		)	6,340,123
Sales of oil and gas produced during the period, net of production costs	(16,479,934		)	(19,569,182		)	(16,187,039		)
Net change due to extensions, discoveries, and improved recovery	775,574			—			1,606,122
Net change due to revisions in quantity estimates	(23,757,788		)	64,817,544			(11,975,496		)
Net change due to sales of minerals in place	(3,150,277		)	(34,119,027		)	—
Development costs incurred during the period	—			747,656			(2,639,398		)
Accretion of discount	45,896,187			41,678,733			22,568,868
Net change in discounted income taxes	58,073,450			10,175,957			(15,026,628		)
Net changes in timing of production and other (a)	(78,909,327		)	(4,357,625		)	(6,479,626		)
Balance, end of year	$	226,077,672		$	307,220,699		$	283,597,493

(a) The operator has expressed current plans to produce the Delhi Field at lower production rates. The decision to produce these reserves at lower rates over a longer period of time did not materially change the total quantities expected to be recovered, but resulted in a significant reduction in the discounted value of these reserves as of June 30, 2014.

Fair Value Measurement	12 Months Ended
Fair Value Measurement	Jun. 30, 2014
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Accounting guidelines for measuring fair value establish a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy categorizes assets and liabilities measured at fair value into one of three different levels depending on the observability of the inputs employed in the measurement. The three levels are defined as follows: Level 1—Observable inputs such as quoted prices in active markets at the measurement date for identical, unrestricted assets or liabilities. Level 2—Other inputs that are observable directly or indirectly such as quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3—Unobservable inputs for which there is little or no market data and which the Company makes its own assumptions about how market participants would price the assets and liabilities. Fair Value of Financial Instruments. The Company's other financial instruments consist of cash and cash equivalents, certificates of deposit, receivables and payables. The carrying amounts of cash and cash equivalents, receivables and payables approximate fair value due to the highly liquid or short-term nature of these instruments. Other Fair Value Measurements. The initial measurement and any subsequent revision of asset retirement obligations at fair value are calculated using discounted future cash flows of internally estimated costs. Significant Level 3 inputs used in the calculation of asset retirement obligations include the costs of plugging and abandoning wells, surface restoration and reserve lives. Subsequent to initial recognition, revisions to estimated asset retirement obligations are made when changes occur for input values, which the Company reviews quarterly.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Jun. 30, 2014

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

The following table presents summarized quarterly financial information for the years ended June 30, 2014 and 2013:



2014	First		Second (1)			Third (2)		Fourth
Revenues	$	4,633,699	$	4,392,289		$	4,337,006	$	4,310,514
Operating income (loss)	1,963,897		(158,095		)	1,357,534		2,364,811
Net income (loss) available to common shareholders	$	1,303,876	$	(577,459	)	$	755,125	$	1,441,469
Basic net income (loss) per share	$	0.05	$	(0.02	)	$	0.02	$	0.04
Diluted net income (loss) per share	$	0.04	$	(0.02	)	$	0.02	$	0.04


(1)	Reflects a $1.3 million restructuring charge and $0.8 million of non-recurring expenses primarily associated with the exercise of 4.0 million of 4.8 million of previously outstanding stock options and warrants.


(2)	Includes $608,000 of non-recurring expenses related to the retirement of an officer of the Company.

_______________________________________________________________________________



2013	First		Second		Third		Fourth (1)
Revenues	$	4,291,546	$	5,648,058	$	6,010,567	$	5,399,749
Operating income	$	1,930,556	$	3,024,721	$	3,394,531	$	2,351,546
Net income available to common shareholders	$	990,951	$	1,790,696	$	2,228,467	$	944,012
Basic net income per share	$	0.04	$	0.06	$	0.08	$	0.03
Diluted net income per share	$	0.03	$	0.06	$	0.07	$	0.03

(1)

The tax provision for fiscal 2013 reflects a higher effective tax rate compared to the estimated annual effective rate at March 31, 2013. The March effective rate included the favorable effect depletion in excess of basis and was based on the Company's estimate of taxable ordinary income at that time. In contrast to the March forecast, actual taxable income for fiscal 2013 was lower due to a taxable loss on the sale of assets in June 2013 and lower than expected book income due to $0.6 million of lower Delhi Field revenue and $0.4 million of higher general and administrative expense, primarily attributable to an increase in accrued bonus, shelf registration costs and an engineering study.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2014
Accounting Policies [Abstract]
Principles of Consolidation and Reporting	Principles of Consolidation and Reporting. Our consolidated financial statements include the accounts of EPM and its wholly-owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. The consolidated financial statements for the previous year include certain reclassifications that were made to conform to the current presentation. Such reclassifications have no impact on previously reported income or stockholders' equity.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include reserve quantities and estimated future cash flows associated with proved reserves, which significantly impact depletion expense and potential impairments of oil and natural gas properties, income taxes and the valuation of deferred tax assets, stock-based compensation and commitments and contingencies. We analyze our estimates based on historical experience and various other assumptions that we believe to be reasonable. While we believe that our estimates and assumptions used in preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents. We consider all highly liquid investments, with original maturities of 90 days or less when purchased, to be cash and cash equivalents.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts. Accounts receivable consist of uncollateralized joint interest owner obligations due within 30 days of the invoice date, uncollateralized accrued revenues due under normal trade terms, generally requiring payment within 30 days of production, and other miscellaneous receivables. No interest is charged on past-due balances. Payments made on accounts receivable are applied to the earliest unpaid items. We establish provisions for losses on accounts receivables if it is determined that collection of all or a part of an outstanding balance is not probable. Collectibility is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method.
Oil and Natural Gas Properties	Oil and Natural Gas Properties. We use the full cost method of accounting for our investments in oil and natural gas properties. Under this method of accounting, all costs incurred in the acquisition, exploration and development of oil and natural gas properties, including unproductive wells, are capitalized. This includes any internal costs that are directly related to property acquisition, exploration and development activities but does not include any costs related to production, general corporate overhead or similar activities. Gain or loss on the sale or other disposition of oil and natural gas properties is not recognized, unless the gain or loss would significantly alter the relationship between capitalized costs and proved reserves. Oil and natural gas properties include costs that are excluded from costs being depleted or amortized. Excluded costs represent investments in unproved and unevaluated properties and include non-producing leasehold, geological and geophysical costs associated with leasehold or drilling interests and exploration drilling costs. We exclude these costs until the project is evaluated and proved reserves are established or impairment is determined. Excluded costs are reviewed at least quarterly to determine if impairment has occurred. The amount of any evaluated or impaired oil and natural gas properties is transferred to capitalized costs being amortized.
Limitation on Capitalized Costs	Limitation on Capitalized Costs. Under the full-cost method of accounting, we are required, at the end of each fiscal quarter, to perform a test to determine the limit on the book value of our oil and natural gas properties (the "Ceiling Test"). If the capitalized costs of our oil and natural gas properties, net of accumulated amortization and related deferred income taxes , exceed the "Ceiling", this excess or impairment is charged to expense and reflected as additional accumulated depreciation, depletion and amortization or as a credit to oil and natural gas properties. The expense may not be reversed in future periods, even though higher oil and natural gas prices may subsequently increase the Ceiling. The Ceiling is defined as the sum of: (a) the present value, discounted at 10 percent, and assuming continuation of existing economic conditions, of 1) estimated future gross revenues from proved reserves, which is computed using oil and natural gas prices determined as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month period prior to the end of the reporting period (with consideration of price changes only to the extent provided by contractual arrangements including hedging arrangements pursuant to SAB 103), less 2) estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves; plus (b) the cost of properties not being amortized (pursuant to Reg. S-X Rule 4-10 (c)(3)(ii)); plus (c) the lower of cost or estimated fair value of unproven properties included in the costs being amortized; net of (d) the related tax effects related to the difference between the book and tax basis of our oil and natural gas properties. Our Ceiling Test did not result in an impairment of our oil and natural gas properties during the years ended June 30, 2014, 2013 or 2012.
Other Property and Equipment	Other Property and Equipment. Other property and equipment includes leasehold improvements, data processing and telecommunications equipment, office furniture and equipment, and oilfield service equipment related to our artificial lift technology operations. These items are recorded at cost and depreciated over expected lives of the individual assets or group of assets, which range from three to seven years. The assets are depreciated using the straight-line method, except for oilfield service equipment related to our artificial lift technology operations, which is depreciated using a method which approximates the timing and amounts of expected revenues from the contract. Repairs and maintenance costs are expensed in the period incurred.
Deferred Costs	Deferred Costs. The Company capitalizes costs incurred in connection with obtaining financing. These costs are included in other assets on the Company's Consolidated Balance Sheet and are amortized over the term of the related financing using the straight-line method, which approximates the effective interest method.
Asset Retirement Obligations	Asset Retirement Obligations. An asset retirement obligation associated with the retirement of a tangible long-lived asset is recognized as a liability in the period incurred, with an associated increase in the carrying amount of the related long-lived asset, our oil and natural gas properties. The cost of the tangible asset, including the asset retirement cost, is depleted over the useful life of the asset. The initial recognition or subsequent revision of asset retirement cost is considered a level 3 fair value measurement. The asset retirement obligation is recorded at its estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligation discounted at our credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liability is accreted to its expected settlement value. If the estimated future cost of the asset retirement obligation changes, an adjustment is recorded to both the asset retirement obligation and the long-lived asset. Revisions to estimated asset retirement obligations can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment.
Fair Value of Financial Instruments	Fair Value of Financial Instruments. Our financial instruments consist of cash and cash equivalents, certificates of deposit, accounts receivable, and accounts payable. The carrying amounts of these approximate fair value due to the highly liquid nature of these short-term instruments.
Stock-based Compensation	Stock-based Compensation. We record all share-based payment expense in our financial statements based on the estimated fair value of the award on the grant date. We use the Black-Scholes option-pricing model as the most appropriate fair-value method for our stock option awards. Restricted stock awards are valued using the market price of our common stock on the grant date. We record compensation cost, net of estimated forfeitures, for stock-based compensation awards over the requisite service period on a straight-line basis as the awards vest. As each award vests, an adjustment is made to compensation cost for any difference between the estimated forfeitures and the actual forfeitures related to the vested awards.
Revenue Recognition	Revenue Recognition - Oil and Gas. We recognize oil and natural gas revenue from our interests in producing wells at the time that title passes to the purchaser. As a result, we accrue revenues related to production sold for which we have not received payment.
Depreciation, Depletion and Amortization	Depreciation, Depletion and Amortization. The depreciable base for oil and natural gas properties includes the sum of all capitalized costs net of DD&A, estimated future development costs and asset retirement costs not included in oil and natural gas properties, less costs excluded from amortization. The depreciable base of oil and natural gas properties is amortized using the unit-of-production method over total proved reserves. Other property including, leasehold improvements, office and computer equipment and vehicles which are stated at original cost and depreciated using the straight-line method over the useful lives of the assets, which range from three to seven years.
Income Taxes	Income Taxes. We recognize deferred tax assets and liabilities based on the differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that may result in taxable or deductible amounts in future years. The measurement of deferred tax assets may be reduced by a valuation allowance based upon management's assessment of available evidence if it is deemed more likely than not some or all of the deferred tax assets will not be realizable. We recognize a tax benefit from an uncertain position when it is more likely than not that the position will be sustained upon examination, based on the technical merits of the position and will record the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement with a taxing authority. The Company classifies any interest and penalties associated with income taxes as income tax expense.
Earnings (loss) per share	Earnings (loss) per share. Basic earnings (loss) per share ("EPS") is computed by dividing earnings or loss by the weighted-average number of common shares outstanding less any non-vested restricted common stock outstanding. The computation of diluted EPS is similar to the computation of basic EPS, except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential dilutive common shares had been issued. Our potential dilutive common shares are our outstanding stock options, warrants, and non-vested restricted common stock. The dilutive effect of our potential dilutive common shares is reflected in diluted EPS by application of the treasury stock method. Under the treasury stock method, exercise of stock options and warrants shall be assumed at the beginning of the period (or at time of issuance, if later) and common shares shall be assumed to be issued; the proceeds from exercise shall be assumed to be used to purchase common stock at the average market price during the period; and the incremental shares (the difference between the number of shares assumed issued and the number of shares assumed purchased) shall be included in the denominator of the diluted EPS computation. Potential dilutive common shares are excluded from the computation if their effect is anti-dilutive. Including potential dilutive common shares in the denominator of a diluted EPS computation for continuing operations always will result in an anti-dilutive per-share amount when an entity has a loss from continuing operations and no potential dilutive common shares shall be included in the computation of diluted EPS when a loss from continuing operations exists.
New Accounting Standards	New Accounting Standards. We disclose the existence and potential effect of accounting standards issued but not yet adopted by us or recently adopted by us with respect to accounting standards that may have an impact on us in the future. In July 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No. 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU applies to all entities that have unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. U.S. GAAP does not include explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The amendments in this ASU state that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments in this ASU are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Company adopted this guidance on July 1, 2014, and does not expect that its adoption will have a material impact on our financial position, cash flows, or results of operations.

Property and Equipment (Tables)

12 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Schedule of oil and natural gas properties and other property and equipment

As of June 30, 2014 and June 30, 2013, our oil and natural gas properties and other property and equipment consisted of the following:



	June 30, 2014			June 30, 2013
Oil and natural gas properties
Property costs subject to amortization	$	47,166,282		$	42,772,184
Less: Accumulated depreciation, depletion, and amortization	(9,344,212		)	(8,095,856		)
Unproved properties not subject to amortization	—			4,112,704
Oil and natural gas properties, net	37,822,070			38,789,032
Other property and equipment
Furniture, fixtures and office equipment, at cost	343,178			322,514
Artificial lift technology equipment, at cost	377,943			—
Less: Accumulated depreciation	(296,294		)	(270,297		)
Other property and equipment, net	$	424,827		$	52,217

Restructuring (Tables)

12 Months Ended

Jun. 30, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

Our current estimate of remaining accrued restructuring charges as of June 30, 2014 is as follows:



Type of Cost	December 31, 2013		Payments			Adjustment to Cost			June 30, 2014
Salary continuation liability	$	615,721	$	(307,860	)	$	—		$	307,861
Incentive compensation costs	185,525		—			—			185,525
Other benefit costs and employer taxes	154,575		(78,549		)	(39,000		)	37,026
Accrued restructuring charges	$	955,821	$	(386,409	)	$	(39,000	)	$	530,412

Accrued Liabilities and Other (Tables)

12 Months Ended

Jun. 30, 2014

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

As of June 30, 2014 and June 30, 2013 our other current liabilities consisted of the following:



	June 30, 2014		June 30, 2013

Accrued incentive and other compensation	$	1,358,653	$	1,385,494
Accrued restructuring charges	530,412		—
Officer retirement costs	288,258		—
Asset retirement obligations due within one year	146,703		—
Accrued royalties	89,179		91,427
Accrued franchise taxes	87,575		94,116
Other accrued liabilities	57,224		59,066
Accrued liabilities and other	$	2,558,004	$	1,630,103

Asset Retirement Obligations (Tables)

12 Months Ended

Jun. 30, 2014

Asset Retirement Obligation Disclosure [Abstract]

Schedule of reconciliation of the beginning and ending asset retirement obligation



	Years Ended
	2014			2013
Asset retirement obligations—beginning of period	$	615,551		$	968,677
Liabilities incurred	—			60,143
Liabilities settled	(323,665		)	(51,086		)
Liabilities sold	(48,273		)	(439,927		)
Accretion of discount	41,626			72,312
Revisions to previous estimates	66,976			5,432
Less: current asset retirement obligations	(146,703		)	—
Asset retirement obligations—end of period	$	205,512		$	615,551

Stock-Based Incentive Plan (Tables)

12 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of information regarding outstanding Stock Options and Incentive Warrants and the changes during the fiscal year

The following summary presents information regarding outstanding Stock Options as of June 30, 2014, and the changes during the fiscal year:



	Number of Stock Options		Weighted Average Exercise Price		Aggregate Intrinsic Value(1)		Weighted Average Remaining Contractual Term (in years)
Stock Options and Incentive Warrants outstanding at June 30, 2013	4,822,820		$	1.99
Granted	—		—
Exercised	(4,644,759	)	$	1.99
Canceled or forfeited	—		—
Expired	—		—
Stock Options and Incentive Warrants outstanding at June 30, 2014	178,061		$	2.08	$	1,580,075	1.75
Vested or expected to vest at June 30, 2014	178,061		$	2.08	$	1,580,075	1.75
Exercisable at June 30, 2014	178,061		$	2.08	$	1,580,075	1.75

_______________________________________________________________________________


(1)	Based upon the difference between the market price of our common stock on the last trading date of the period ($10.95 as of June 30, 2014) and the Stock Option or Incentive Warrant exercise price of in-the-money Stock Options and Incentive Warrants.

Schedule of Restricted Stock transactions

The following table sets forth the Restricted Stock transactions for the year ended June 30, 2014:



	Number of Restricted Shares		Weighted Average Grant-Date Fair Value
Unvested at June 30, 2013	386,599		$	6.65
Granted	39,732		$	12.58
Vested	(277,198	)	$	6.48
Forfeited	(9,066	)	$	5.98
Unvested at June 30, 2014	140,067		$	8.70

Supplemental Disclosure of Cash Flow Information (Tables)

12 Months Ended

Jun. 30, 2014

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental disclosures of cash flow information



	June 30,
	2014			2013			2012
Income taxes paid	$	755,941		$	699,874		$	895,000
Non-cash transactions:
Change in accounts payable used to acquire property and equipment	$	(183,766	)	$	(1,535,322	)	$	1,761,633
Oil and natural gas property costs attributable to the recognition of asset retirement obligations	$	66,976		$	65,575		$	93,522
Previously acquired Company shares swapped by holders to pay stock option exercise price	$	618,606		$	—		$	—

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of components of income tax provision (benefit)

The components of our income tax provision (benefit) are as follows:



	June 30, 2014		June 30, 2013			June 30, 2012
Current:
Federal	$	386,018	$	857,480		$	309,632
State	161,168		659,303			841,698
Total current income tax provision	547,186		1,516,783			1,151,330
Deferred:
Federal	1,319,727		2,546,495			2,542,662
State	25,085		(33,517		)	6,930
Total deferred income tax provision	1,344,812		2,512,978			2,549,592
Total income tax provision	$	1,891,998	$	4,029,761		$	3,700,922

Schedule of reconciliation of statutory income tax expense to income tax provision



	June 30, 2014			June 30, 2013			June 30, 2012
Income tax provision (benefit) computed at the statutory federal rate:	$	1,866,366		$	3,623,784		$	3,003,238
Reconciling items:
State income taxes, net of federal tax benefit	189,081			413,019			560,095
Permanent differences related to stock-based compensation	(155,817		)	8,933			83,115
Expiring NOLs related to 2004 reverse merger	—			600,964			4,348,495
Deferred tax asset valuation adjustment	—			(600,964		)	(4,348,495		)
Other permanent differences	(7,632		)	(15,975		)	54,474
Income tax provision	$	1,891,998		$	4,029,761		$	3,700,922

Schedule of components of deferred taxes

The components of our deferred taxes are detailed in the table below:



	June 30, 2014			June 30, 2013			June 30, 2012
Deferred tax assets:
Non-qualified stock-based compensation	$	134,469		$	774,673		$	774,720
Net operating loss carry-forwards	427,249			427,249			1,336,769
AMT credit carry-forward*	701,254			502,466			714,571
Other	165,775			28,170			29,929
Gross deferred tax assets	1,428,747			1,732,558			2,855,989
Valuation allowance	(292,446		)	(292,446		)	(893,410		)
Total deferred tax assets	1,136,301			1,440,112			1,962,579
Deferred tax liability:
Oil and natural gas properties	(10,873,949		)	(9,832,948		)	(7,842,437		)
Total deferred tax liability	(10,873,949		)	(9,832,948		)	(7,842,437		)
Net deferred tax liability	$	(9,737,648	)	$	(8,392,836	)	$	(5,879,858	)

_______________________________________________________________________________


*	Total AMT credit carry-forward is $824,087. Our net deferred tax liability does not include $122,833 of AMT credit carry-forward associated with the tax benefit related to stock-based compensation.

Net Income Per Share (Tables)

12 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted income (loss) per share

The following table sets forth the computation of basic and diluted net income per share:



	June 30,
	2014		2013		2012
Numerator
Net income attributable to common shareholders	$	2,923,011	$	5,954,126	$	4,501,739
Denominator
Weighted average number of common shares—Basic	30,895,832		28,205,467		27,784,298
Effect of dilutive securities:
Common stock warrants issued in connection with equity and financing transactions	—		878		63,319
Stock Options and Incentive Warrants	1,668,235		3,768,786		3,762,312
Total weighted average dilutive securities	1,668,235		3,769,664		3,825,631
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	32,564,067		31,975,131		31,609,929
Net income per common share—Basic	$	0.09	$	0.21	$	0.16
Net income per common share—Diluted	$	0.09	$	0.19	$	0.14

Schedule of outstanding potentially dilutive securities

Outstanding potentially dilutive securities as of June 30, 2014 are as follows:



Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at June 30, 2014
Common stock warrants issued in connection with equity and financing transactions	$	—	—
Stock Options	$	2.08	178,061
Total	$	2.08	178,061

Outstanding potentially dilutive securities as of June 30, 2013 are as follows:



Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at June 30, 2013
Common stock warrants issued in connection with equity and financing transactions	$	2.50	1,165
Stock Options and Incentive Warrants	$	1.99	4,822,820
Total	$	1.99	4,823,985

Outstanding potentially dilutive securities as of June 30, 2012 are as follows:



Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at June 30, 2012
Common stock warrants issued in connection with equity and financing transactions	$	2.50	1,165
Stock Options and Incentive Warrants	$	1.83	5,485,820
Total	$	1.83	5,486,985

Commitments and Contingencies (Tables)

12 Months Ended

Jun. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum lease commitments under the operating lease

Future minimum lease commitments as of June 30, 2014 under this operating lease are as follows:



For the year ended June 30,
2015	$	159,011
2016	159,011
2017	13,251

Total	$	331,273

Concentrations of Credit Risk (Tables)

12 Months Ended

Jun. 30, 2014

Risks and Uncertainties [Abstract]

Schedule of customers from whom the entity derived 10 percent or more of net oil and natural gas revenues

Based on the current demand for oil and natural gas and availability of other customers, we do not believe the loss of any of these customers would have a significant effect on our operations or financial condition.



	Year Ended June 30,
Customer	2014		2013		2012
Plains Marketing L.P. (includes Delhi production)	96	%	90	%	84	%
Enterprise Crude Oil LLC	2	%	4	%	7	%
Flint Hills	1	%	2	%	1	%
ETC Texas Pipeline, LTD.	1	%	—	%	3	%
All others	—	%	4	%	5	%
Total	100	%	100	%	100	%

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) (Tables)

12 Months Ended

Jun. 30, 2014

Oil and Gas Exploration and Production Industries Disclosures [Abstract]

Schedule of costs incurred and capitalized in oil and natural gas property acquisition, exploration and development activities

Exploration and development costs also include amounts incurred due to the recognition of asset retirement obligations, of $66,976, $65,575, and $93,522, during the years ended June 30, 2014, 2013, and 2012 , respectively.



	For the Years Ended June 30,
	2014		2013		2012
Oil and natural gas activities
Property acquisition costs:
Proved property	$	—	$	26,449	$	115,637
Unproved property	47,344		195,599		5,544,217
Exploration costs	757,423		4,356,640		3,016,924
Development costs	18,566		79,035		238,463
Total costs incurred for oil and natural gas activities	$	823,333	$	4,657,723	$	8,915,241

Schedule of estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves for each of the periods indicated were as follows:



	Crude Oil (Bbls)		Natural Gas Liquids (Bbls)		Natural Gas (Mcf)		BOE
Proved developed and undeveloped reserves:
June 30, 2011	11,567,846		712,300		9,403,899		13,847,462
Revisions of previous estimates	84,219		(212,677	)	(1,295,893	)	(344,440	)
Improved recovery, extensions and discoveries	137,634		5,461		18,925		146,249
Production (sales volumes)	(151,081	)	(12,611	)	(266,775	)	(208,155	)
June 30, 2012	11,638,618		492,473		7,860,156		13,441,116
Revisions of previous estimates (a)	1,826,053		975,515		27,679		2,806,181
Sales of minerals in place	(485,536	)	(480,832	)	(7,726,032	)	(2,254,038	)
Production (sales volumes)	(196,380	)	(7,271	)	(139,006	)	(226,819	)
June 30, 2013	12,782,755		979,885		22,797		13,766,440
Revisions of previous estimates (b)	(1,919,052	)	1,269,588		2,412,677		(247,350	)
Improved recovery, extensions and discoveries	17,146		32,731		498,044		132,884
Sales of minerals in place	(184,722	)	—		—		(184,722	)
Production (sales volumes)	(169,783	)	(3,516	)	(26,655	)	(177,742	)
June 30, 2014	10,526,344		2,278,688		2,906,863		13,289,510
Proved developed reserves:
June 30, 2011	4,986,337		100,900		1,543,401		5,344,471
June 30, 2012	7,670,934		111,978		1,499,382		8,032,809
June 30, 2013	10,077,522		8,539		22,797		10,089,861
June 30, 2014	7,858,224		32,164		481,042		7,970,562

Schedule of standardized measure of discounted future net cash flows related to proved oil and natural gas reserves

The standardized measure of discounted future net cash flows related to proved oil and natural gas reserves as of June 30, 2014, 2013, and 2012 are as follows:



	For the Years Ended June 30,
	2014			2013			2012
Future cash inflows	$	1,193,515,075		$	1,436,980,607		$	1,355,686,188
Future production costs and severance taxes	(475,387,931		)	(510,902,614		)	(458,716,938		)
Future development costs	(46,154,178		)	(60,742,406		)	(38,458,724		)
Future income tax expenses	(195,581,510		)	(275,113,560		)	(296,703,838		)
Future net cash flows	476,391,456			590,222,027			561,806,688
10% annual discount for estimated timing of cash flows	(250,313,784		)	(283,001,328		)	(278,209,195		)
Standardized measure of discounted future net cash flows	$	226,077,672		$	307,220,699		$	283,597,493

Schedule of NYMEX prices used in determining future cash flows



	Year Ended June 30,
	2014				2013				2012
	Oil (Bbl)		Gas (MMBtu)		Oil (Bbl)		Gas (MMBtu)		Oil (Bbl)		Gas (MMBtu)
NYMEX prices used in determining future cash flows	$	100.37	$	4.10	$	91.51	$	3.44	$	95.67	$	3.15

Schedule of changes in the standardized measure of discounted future net cash flows applicable to proved crude oil, natural gas liquids, and natural gas reserves

A summary of the changes in the standardized measure of discounted future net cash flows applicable to proved crude oil, natural gas liquids, and natural gas reserves is as follows:



	For the Years Ended June 30,
	2014			2013			2012
Balance, beginning of year	$	307,220,699		$	283,597,493		$	228,447,954
Net changes in sales prices and production costs related to future production	(73,439,526		)	(35,184,725		)	76,942,613
Changes in estimated future development costs	9,848,614			(566,125		)	6,340,123
Sales of oil and gas produced during the period, net of production costs	(16,479,934		)	(19,569,182		)	(16,187,039		)
Net change due to extensions, discoveries, and improved recovery	775,574			—			1,606,122
Net change due to revisions in quantity estimates	(23,757,788		)	64,817,544			(11,975,496		)
Net change due to sales of minerals in place	(3,150,277		)	(34,119,027		)	—
Development costs incurred during the period	—			747,656			(2,639,398		)
Accretion of discount	45,896,187			41,678,733			22,568,868
Net change in discounted income taxes	58,073,450			10,175,957			(15,026,628		)
Net changes in timing of production and other (a)	(78,909,327		)	(4,357,625		)	(6,479,626		)
Balance, end of year	$	226,077,672		$	307,220,699		$	283,597,493

- Definition

Tabular disclosure of the net quantities of an enterprise's interests in proved developed and undeveloped reserves of (a) crude oil (including condensate and natural gas liquids), (b) natural gas (including coal bed methane), (c) synthetic oil, (d) synthetic gas, and (e) other nonrenewable natural resources that are intended to be upgraded during the period as of the beginning of the period, changes in quantities during the period, and as of the end of the period.

+ References + Details

- Definition

Tabular disclosure of the future net cash flows relating to proved oil and gas reserves and oil and gas subject to purchase under long-term agreements in which the enterprise participates in the operation of the properties on which the oil and gas is located or otherwise serves as the producer. This information is presented in aggregate and for each geographic area for which reserve quantities are disclosed.

+ References + Details

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Jun. 30, 2014

Quarterly Financial Information Disclosure [Abstract]

Summary of quarterly financial information

The following table presents summarized quarterly financial information for the years ended June 30, 2014 and 2013:



2014	First		Second (1)			Third (2)		Fourth
Revenues	$	4,633,699	$	4,392,289		$	4,337,006	$	4,310,514
Operating income (loss)	1,963,897		(158,095		)	1,357,534		2,364,811
Net income (loss) available to common shareholders	$	1,303,876	$	(577,459	)	$	755,125	$	1,441,469
Basic net income (loss) per share	$	0.05	$	(0.02	)	$	0.02	$	0.04
Diluted net income (loss) per share	$	0.04	$	(0.02	)	$	0.02	$	0.04


(1)	Reflects a $1.3 million restructuring charge and $0.8 million of non-recurring expenses primarily associated with the exercise of 4.0 million of 4.8 million of previously outstanding stock options and warrants.


(2)	Includes $608,000 of non-recurring expenses related to the retirement of an officer of the Company.

_______________________________________________________________________________



2013	First		Second		Third		Fourth (1)
Revenues	$	4,291,546	$	5,648,058	$	6,010,567	$	5,399,749
Operating income	$	1,930,556	$	3,024,721	$	3,394,531	$	2,351,546
Net income available to common shareholders	$	990,951	$	1,790,696	$	2,228,467	$	944,012
Basic net income per share	$	0.04	$	0.06	$	0.08	$	0.03
Diluted net income per share	$	0.03	$	0.06	$	0.07	$	0.03

(1)

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 0	$ 0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-Lived Intangible Assets, Cost Incurred to Renew or Extend	346,520
Finite-Lived Intangible Assets, Net	$ 319,470
Earnings (loss) per share
Number of potential dilutive common shares included in the computation of diluted EPS when a loss from continuing operation exists	0
Oil and natural gas properties
Limitation on Capitalized Costs
Discount rate for present value (as a percent)	10.00%
Period considered for computing unweighted arithmetic average of oil and natural gas prices	12 months
Other Property and Equipment \| Minimum
Other Property and Equipment
Expected lives of the individual assets or group of assets	3 years
Other Property and Equipment \| Maximum
Other Property and Equipment
Expected lives of the individual assets or group of assets	7 years

Property and Equipment - Summary of Property and Equipment (Details) - USD ($)	Jun. 30, 2014	Jun. 30, 2013
Oil and natural gas properties
Property costs subject to amortization	$ 47,166,282	$ 42,772,184
Less: Accumulated depreciation, depletion, and amortization	(9,344,212)	(8,095,856)
Unproved properties not subject to amortization	0	4,112,704
Oil and natural gas properties, net	37,822,070	38,789,032
Other property and equipment
Less: Accumulated depreciation	(296,294)	(270,297)
Property, Plant and Equipment, Other, Net	424,827	52,217
Furniture, Fixtures and Office Equipment
Other property and equipment
Furniture, fixtures and office equipment, at cost	343,178	322,514
Technology Equipment
Other property and equipment
Furniture, fixtures and office equipment, at cost	$ 377,943	$ 0

Property and Equipment - Narrative (Details) - USD ($)				1 Months Ended	12 Months Ended
Property and Equipment - Narrative (Details) - USD ($)	Dec. 01, 2013	Jun. 14, 2013	Dec. 24, 2012	Nov. 30, 2012	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012	May 01, 2013
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Unproved properties not subject to amortization					$ 0	$ 4,112,704
Property, Plant and Equipment [Line Items]
Proceeds from asset sales					542,347	$ 3,479,976	$ 799,610
Equity Method Investee
Related Party Transaction [Line Items]
Election to forego leasehold payment								$ 1,209,197
Ownership of equity method investment (percent)						33.90%		45.00%
Oil and natural gas properties
Property, Plant and Equipment [Line Items]
Proceeds from asset sales	$ 402,500	$ 425,000	$ 2,804,976	$ 250,000
Technology Equipment
Property, Plant and Equipment [Line Items]
Furniture, fixtures and office equipment, at cost					377,943	$ 0
Mississippi Lime Property
Capitalized Costs of Unproved Properties Excluded from Amortization [Line Items]
Unproved properties not subject to amortization						$ 4,100,000
Transfer of costs of unproved properties to full cost method, gross					$ 4,500,000

Restructuring - Schedule of Restructuring and Related Costs (Details)	12 Months Ended
	Jun. 30, 2014 USD ($)
Salary continuation liability
Restructuring Reserve [Roll Forward]
December 31, 2013	$ 615,721
Payments	(307,860)
Adjustment to Cost	0
June 30, 2014	307,861
Incentive compensation costs
Restructuring Reserve [Roll Forward]
December 31, 2013	185,525
Payments	0
Adjustment to Cost	0
June 30, 2014	185,525
Other benefit costs and employer taxes
Restructuring Reserve [Roll Forward]
December 31, 2013	154,575
Payments	(78,549)
Adjustment to Cost	(39,000)
June 30, 2014	37,026
Accrued restructuring charges
Restructuring Reserve [Roll Forward]
December 31, 2013	955,821
Payments	(386,409)
Adjustment to Cost	(39,000)
June 30, 2014	$ 530,412

Restructuring - Narrative (Details) - USD ($)	3 Months Ended
Restructuring - Narrative (Details) - USD ($)	Dec. 31, 2013	Jun. 30, 2014	Feb. 28, 2014	Nov. 02, 2013	Jun. 30, 2013
Restructuring Cost and Reserve [Line Items]
Officer retirement costs		$ 288,258	$ 608,000		$ 0
Restructuring Reserve				$ 1,332,186
Non-cash stock-based compensation expense	$ 800,000
Accrued restructuring charges
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		$ 530,412		$ 955,821	$ 955,821

Accrued Liabilities and Other - Schedule of Other Current Liabilities (Details) - USD ($)	Jun. 30, 2014	Feb. 28, 2014	Jun. 30, 2013
Other Liabilities Disclosure [Abstract]
Accrued incentive and other compensation	$ 1,358,653		$ 1,385,494
Accrued restructuring charges	530,412		0
Officer retirement costs	288,258	$ 608,000	0
Asset retirement obligations due within one year	146,703		0
Accrued royalties	89,179		91,427
Accrued franchise taxes	87,575		94,116
Other accrued liabilities	57,224		59,066
Other accrued liabilities and other	$ 2,558,004		$ 1,630,103

Accrued Liabilities and Other - Narrative (Details) - USD ($)	1 Months Ended
	Feb. 28, 2014	Jun. 30, 2014	Jun. 30, 2013
Payables and Accruals [Abstract]
Officer retirement costs	$ 608,000	$ 288,258	$ 0
Accelerated compensation expense	204,000
Salary and cash incentive plan expense	356,000
Postretirement benefit expenses	$ 48,000

Asset Retirement Obligations - Summary of Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Reconciliation of the beginning and ending asset retirement obligation
Asset retirement obligations - beginning of period	$ 615,551	$ 968,677
Liabilities incurred	0	60,143
Liabilities settled	(323,665)	(51,086)
Liabilities sold	(48,273)	(439,927)
Accretion of discount	41,626	72,312	$ 77,505
Revisions to previous estimates	66,976	5,432
Less: current asset retirement obligations	(146,703)	0
Asset retirement obligations - end of period	$ 205,512	$ 615,551	$ 968,677

Stockholders' Equity - Narrative (Details)						3 Months Ended			12 Months Ended
Stockholders' Equity - Narrative (Details)	Dec. 05, 2013 USD ($) item shares	Dec. 06, 2012 USD ($) item shares	Sep. 06, 2012 USD ($) shares	Dec. 05, 2011 USD ($) item shares	Aug. 31, 2011 USD ($) shares	Jun. 30, 2014 USD ($) $ / shares	Mar. 31, 2014 $ / shares	Dec. 31, 2013 $ / shares	Jun. 30, 2014 USD ($) $ / shares shares	Jun. 30, 2013 USD ($) $ / shares	Jun. 30, 2012 USD ($) $ / shares shares
Class of Stock [Line Items]
Recovery of Short Swing Profits									$ 6,850
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of restricted common stock									$ 0	$ 32	$ 34
Common shares issued during period for share based compensation (shares) \| shares									1,568,832
Proceeds from the exercise of stock options									$ 3,252,801	70,719	0
Stock issued, nonqualified stock options and incentive warrants noncash (shares) \| shares									2,635,696
Shares received in lieu of cash payment (shares) \| shares									50,956
Shares received in lieu of cash payment, average cost of shares (in USD per share) \| $ / shares									$ 12.14
Dividends paid									$ 9,723,833
Cash dividends paid (per common share) \| $ / shares						$ 0.10	$ 0.10	$ 0.10
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Proceeds from issuance of preferred stock, net									0	0	6,930,535
Payments of Ordinary Dividends, Preferred Stock and Preference Stock									$ 674,302	674,302	$ 630,391
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Treasury stock retired (shares) \| shares									801,889
Treasury stock retired, value									$ 1,019,840
Purchases of treasury stock (shares) \| shares									186,714
Treasury stock acquired, average cost (in USD per share) \| $ / shares									$ 12.18
Purchases of treasury stock									$ 2,273,857	$ 137,818
Series A Cumulative Preferred Stock
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of preferred stock (in shares) \| shares											317,319
Proceeds from issuance of preferred stock, net											$ 6,930,535
Cumulative Preferred Stock (as a percent)									8.50%	8.50%	8.50%
Preferred stock, liquidation preference (in dollars per share) \| $ / shares						$ 25			$ 25	$ 25.00	$ 25.00
Preferred Stock, Dividend Rate, Per-Dollar-Amount \| $ / shares											$ 0.177083
Payments of Ordinary Dividends, Preferred Stock and Preference Stock									$ 674,302	$ 674,302	$ 630,391
Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan \| Common Stock
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of restricted common stock (shares) \| shares			154,227		161,861
Restricted Stock
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Restricted stock compensation not yet recognized						$ 997,403			$ 997,403
Recognition period for restricted stock compensation expense not yet recognized									2 years 1 month 6 days
Restricted Stock \| Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Restricted stock compensation not yet recognized			$ 1,223,020		$ 1,029,436
Recognition period for restricted stock compensation expense not yet recognized			4 years		4 years
Outside Directors \| Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan \| Common Stock
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of restricted common stock (shares) \| shares	16,476			34,245
Issuance of restricted common stock	$ 200,019			$ 249,955
Outside Directors \| Restricted Stock \| Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of restricted common stock (shares) \| shares		31,970
Directors receiving award, number \| item	5	5		5
Issuance of restricted common stock		$ 249,973
Restricted stock vesting period	1 year	1 year		1 year
Weighted Average \| Series A Cumulative Preferred Stock
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Share Price \| $ / shares											$ 23.80
Public Offering \| Series A Cumulative Preferred Stock
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of preferred stock (in shares) \| shares											220,000
At the Market Offering \| Series A Cumulative Preferred Stock
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Issuance of preferred stock (in shares) \| shares											97,319

Stockholders' Equity Phantom (Details) - $ / shares	3 Months Ended
Stockholders' Equity Phantom (Details) - $ / shares	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Cash dividends paid (per common share)	$ 0.10	$ 0.10	$ 0.10

Stock-Based Incentive Plan - Schedule of Options and Incentive Warrants (Details) - USD ($)

3 Months Ended

12 Months Ended

Dec. 31, 2013

Jun. 30, 2014

Share Based Compensation Arrangement by Share Based Payment Award, Options and Incentive Warrants Outstanding [Roll Forward]

Options and Incentive Warrants, Exercises (in shares)

(4,000,000)

Options and Incentive Warrants Outstanding, End of Period (in shares)

4,800,000

Stock Options and Incentive Warrants

Share Based Compensation Arrangement by Share Based Payment Award, Options and Incentive Warrants Outstanding [Roll Forward]

Options and Incentive Warrants Outstanding, Beginning of Period (in shares)

4,822,820

Options and Incentive Warrants, Grants (in shares)

Options and Incentive Warrants, Exercises (in shares)

(4,600,000)

Options and Incentive Warrants, Forfeited or Canceled (in shares)

Options and Incentive Warrants, Expirations (in shares)

Options and Incentive Warrants Outstanding, End of Period (in shares)

178,061

Options and Incentive Warrants, Vested and Expected to Vest (in shares)

178,061

Options and Incentive Warrants, Exercisable (in shares)

178,061

Share Based Compensation Arrangement by Share Based Payment Award, Options and Incentive Warrants Outstanding Weighted Average Exercise Price [Roll Forward]

Options and Incentive Warrants Outstanding, Weighted Average Exercise Price, Beginning of Period (in USD per share)

$ 1.99

Options and Incentive Warrants, Exercises, Weighted Average Exercise Price (in USD per share)

1.99

Options and Incentive Warrants, Forfeitures, Weighted Average Exercise Price (in USD per share)

0.00

Options and Incentive Warrants, Expirations, Weighted Average Exercise Price (in USD per share)

0.00

Options and Incentive Warrants Outstanding, Weighted Average Exercise Price, End of Period (in USD per share)

2.08

Options and Incentive Warrants, Vested and Expected to Vest, Weighted Average Exercise Price (in USD per share)

2.08

Options and Incentive Warrants, Exercisable, Weighted Average Exercise Price (in USD per share)

$ 2.08

Share Based Compensation Arrangement by Share Based Payment Award Options and Incentive Warrants Nonvested [Roll Forward]

Options and Incentive Warrants, Outstanding, Aggregate Intrinsic Value

^[1]

$ 1,580,075

Options and Incentive Warrants, Vested and Expected to Vest, Aggregate Intrinsic Value

^[1]

1,580,075

Options and Incentive Warrants, Exercisable, Aggregate Intrinsic Value

^[1]

$ 1,580,075

Options and Incentive Warrants, Outstanding, Weighted Average Remaining Contractual Term

1 year 9 months

Options and Incentive Warrants, Vested and Expected to Vest, Weighted Average Remaining Contractual Term 1

1 year 9 months

Options and Incentive Warrants, Exercisable, Weighted Average Remaining Contractual Term

1 year 9 months

Common Stock | Stock Options and Incentive Warrants

Share Based Compensation Arrangement by Share Based Payment Award Options and Incentive Warrants Nonvested [Roll Forward]

Share Price

$ 10.95

[1]	(1)Based upon the difference between the market price of our common stock on the last trading date of the period ($10.95 as of June 30, 2014) and the Stock Option or Incentive Warrant exercise price of in-the-money Stock Options and Incentive Warrants.

Stock-Based Incentive Plan - Schedule of Restricted Stock (Details) - Restricted Stock - $ / shares	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted stock, nonvested, beginning of period (shares)	386,599
Restricted stock, grants (shares)	39,732
Restricted stock, vested (shares)	(277,198)	(277,198)	(239,195)
Restricted stock, forfeited (shares)	(9,066)
Restricted stock, nonvested, end of period (shares)	140,067	386,599
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Restricted shares, weighted average grant date fair value, beginning of period (in USD per share)	$ 6.65
Restricted stock, grants, weighted average grant date fair value (in USD per share)	12.58
Restricted stock, vested, weighted average grant date fair value (in USD per share)	6.48
Restricted stock, forfeited, weighted average grant date fair value (in USD per share)	5.98
Restricted shares, weighted average grant date fair value, end of period (in USD per share)	$ 8.70	$ 6.65

Stock-Based Incentive Plan - Narrative (Details) - USD ($)			3 Months Ended	12 Months Ended
	Sep. 06, 2012	Aug. 31, 2011	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation expense			$ 800,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and Incentive Warrants, Grants (in shares)				0	0	0
Options, Exercised, Intrinsic Value				$ 47,504,114	$ 5,233,480	$ 54,000
Exercise of stock options (shares)				4,644,759	550,000	20,000
Stock Options and Incentive Warrants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and Incentive Warrants, Grants (in shares)				0
Non-cash stock-based compensation expense				$ 0	$ 26,274	$ 327,776
Options and Incentive Warrants Vested in Period				0	18,922	154,955
Options and Incentive Warrants, vested in period, grant date, fair value				$ 0	$ 46,359	$ 336,252
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, vested (shares)				277,198	277,198	239,195
Non-cash stock-based compensation expense				$ 1,728,687	$ 1,505,471	$ 1,148,219
Restricted stock, vested in period, grant date fair value				1,796,243	1,427,570	1,078,769
Restricted stock compensation not yet recognized				$ 997,403
Recognition period for restricted stock compensation expense not yet recognized				2 years 1 month 6 days
Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for granting (shares)				6,500,000
Shares available for grant (shares)				812,281
Evolution Petroleum Corporation Amended and Restated 2004 Stock Plan \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock compensation not yet recognized	$ 1,223,020	$ 1,029,436
Recognition period for restricted stock compensation expense not yet recognized	4 years	4 years
Restructuring Charges
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation expense				$ 376,365	$ 0	$ 0
Restructuring Charges \| Stock Compensation, Restructuring
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash stock-based compensation expense			$ 376,365

Supplemental Disclosure of Cash Flow Information - Schedule of Supplement Cash Flow (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Supplemental Cash Flow Elements [Abstract]
Income taxes paid	$ 755,941	$ 699,874	$ 895,000
Non-cash transactions:
Change in accounts payable used to acquire oil and natural gas leasehold interests and develop oil and natural gas properties	(183,766)	(1,535,322)	1,761,633
Oil and natural gas property costs attributable to the recognition of asset retirement obligations	66,976	65,575	93,522
Previously acquired Company shares swapped by holders to pay stock option exercise price	$ 618,606	$ 0	$ 0

Income Taxes - Narrative (Details) - USD ($) shares in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits		$ 0	$ 0	$ 0
Operating Loss Carryforwards		28,900,000
Tax Credit Carryforward, Amount, Due to Exercise of Options and Warrants		27,600,000
Tax Credit Carryforward, Amount, Due to Reverse Merger		1,300,000
Business Combination Operating Loss Carryforwards, Amount		400,000
Options and Incentive Warrants, Exercises (in shares)	4.0
Options and Incentive Warrants Outstanding, Beginning of Period (in shares)	4.8
Permanent differences related to stock-based compensation		(155,817)	$ 8,933	$ 83,115
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depletion, Amount		$ 9,100,000
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depletion, Percent		65.00%

Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Current Federal Tax Expense (Benefit)	$ 386,018	$ 857,480	$ 309,632
Current State and Local Tax Expense (Benefit)	161,168	659,303	841,698
Total current income tax provision	547,186	1,516,783	1,151,330
Deferred Federal Income Tax Expense (Benefit)	1,319,727	2,546,495	2,542,662
Deferred State and Local Income Tax Expense (Benefit)	25,085	(33,517)	6,930
Total deferred income tax provision	1,344,812	2,512,978	2,549,592
Total income tax provision	$ 1,891,998	$ 4,029,761	$ 3,700,922

Income Taxes - Reconciliation of Statutory and Income Tax Expense (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Income tax provision (benefit) computed at the statutory federal rate:	$ 1,866,366	$ 3,623,784	$ 3,003,238
State income taxes, net of federal tax benefit	189,081	413,019	560,095
Permanent differences related to stock-based compensation	(155,817)	8,933	83,115
Expiring NOLs related to 2004 reverse merger	0	600,964	4,348,495
Deferred tax asset valuation adjustment	0	(600,964)	(4,348,495)
Other permanent differences	(7,632)	(15,975)	54,474
Total income tax provision	$ 1,891,998	$ 4,029,761	$ 3,700,922

Income Taxes - Schedule of Deferred Income Taxes (Details) - USD ($)

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Non-qualified stock-based compensation

$ 134,469

$ 774,673

$ 774,720

Net operating loss carry-forwards

427,249

1,336,769

AMT credit carry-forward

^[1]

701,254

502,466

714,571

Other

165,775

28,170

29,929

Gross deferred tax assets

1,428,747

1,732,558

2,855,989

Valuation allowance

(292,446)

(893,410)

Total deferred tax assets

1,136,301

1,440,112

1,962,579

Oil and natural gas properties

(10,873,949)

(9,832,948)

(7,842,437)

Total deferred tax liability

(10,873,949)

(9,832,948)

(7,842,437)

Net deferred tax liability

(9,737,648)

$ (8,392,836)

$ (5,879,858)

Deferred Tax Asset, Alternative Minimum Tax

824,087

Deferred Tax Liability, Alternative Minimum Tax Associated with Windfall Tax Benefit

$ 122,833

[1]	Total AMT credit carry-forward is $824,087. Our net deferred tax liability does not include $122,833 of AMT credit carry-forward associated with the tax benefit related to stock-based compensation.

Related Party Transactions - Narrative (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Vice President
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party	$ 10,113	$ 10,113	$ 20,000

Net Income Per Share - Schedule of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($)

3 Months Ended

12 Months Ended

Jun. 30, 2014

Mar. 31, 2014

^[1]

Dec. 31, 2013

^[2]

Sep. 30, 2013

Jun. 30, 2013

^[3]

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2012

Numerator

Net income attributable to common shareholders

$ 1,441,469

$ 755,125

$ (577,459)

$ 1,303,876

$ 944,012

$ 2,228,467

$ 1,790,696

$ 990,951

$ 2,923,011

$ 5,954,126

$ 4,501,739

Denominator

Weighted average number of common shares—Basic

30,895,832

28,205,467

27,784,298

Effect of dilutive securities:

Common stock warrants issued in connection with equity and financing transactions

878

63,319

Stock Options and Incentive Warrants

1,668,235

3,768,786

3,762,312

Total weighted average dilutive securities

1,668,235

3,769,664

3,825,631

Weighted average number of common shares and dilutive potential common shares used in diluted EPS

32,564,067

31,975,131

31,609,929

Net income (loss) per common share - Basic (in dollars per share)

$ 0.04

$ 0.02

$ (0.02)

$ 0.05

$ 0.03

$ 0.08

$ 0.06

$ 0.04

$ 0.09

$ 0.21

$ 0.16

Net income (loss) per common share - Diluted (in dollars per share)

$ 0.04

$ 0.02

$ (0.02)

$ 0.04

$ 0.03

$ 0.07

$ 0.06

$ 0.03

$ 0.09

$ 0.19

$ 0.14

[1]	Includes $608,000 of non-recurring expenses related to the retirement of an officer of the Company.
[2]	Reflects a $1.3 million restructuring charge and $0.8 million of non-recurring expenses primarily associated with the exercise of 4.0 million of 4.8 million of previously outstanding stock options and warrants.
[3]	The tax provision for fiscal 2013 reflects a higher effective tax rate compared to the estimated annual effective rate at March 31, 2013. The March effective rate included the favorable effect depletion in excess of basis and was based on the Company's estimate of taxable ordinary income at that time. In contrast to the March forecast, actual taxable income for fiscal 2013 was lower due to a taxable loss on the sale of assets in June 2013 and lower than expected book income due to $0.6 million of lower Delhi Field revenue and $0.4 million of higher general and administrative expense, primarily attributable to an increase in accrued bonus, shelf registration costs and an engineering study.

Net Income Per Share - Schedule of Outstanding Potentially Dilutive Securities (Details) - $ / shares	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Outstanding Potential Dilutive Securities
Weighted Average Exercise Price (in dollars per share)	$ 2.08	$ 1.99	$ 1.83
Weighted Average Outstanding (in shares)	178,061	4,823,985	5,486,985
Common stock warrants issued in connection with equity and financing transactions
Outstanding Potential Dilutive Securities
Weighted Average Exercise Price (in dollars per share)	$ 0.00	$ 2.50	$ 2.50
Weighted Average Outstanding (in shares)	0	1,165	1,165
Stock Options and Incentive Warrants
Outstanding Potential Dilutive Securities
Weighted Average Exercise Price (in dollars per share)	$ 2.08	$ 1.99	$ 1.83
Weighted Average Outstanding (in shares)	178,061	4,822,820	5,485,820

Unsecured Revolving Credit Agreement - Narrative (Details)	1 Months Ended	12 Months Ended
	Feb. 29, 2012 USD ($)	Jun. 30, 2014 USD ($) item	Jun. 30, 2013 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum Borrowing Capacity	$ 50,000,000
Current Borrowing Capacity	5,000,000	$ 5,000,000
Debt Instrument, Term		4 years
Line of Credit Facility Percentage of Value of Oil and Gas Properties as Borrowing Limitation		25.00%
Basis Spread on Variable Rate		0.50%
Line of Credit Facility Loan Costs to be Compensated to Lender	50,000
Debt Issuance Cost	179,468
Line of Credit		$ 0	$ 0
Unamortized Debt Issuance Expense		81,047
Deferred Finance Costs, Gross		$ 63,535
Letter of Credit
Debt Instrument [Line Items]
Maximum Borrowing Capacity	$ 1,000,000
Commitment Fee Percentage		3.50%
Line of Credit		$ 0	$ 0
LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Description of Variable Rate Basis		Adjusted LIBOR
Variable Rate Basis Amount to be Reduced by Lender Regulation D Reserve Requirement \| item		1
Interest Period One Term		1 month
Interest Period Two Term		2 months
Interest Period Three Term		3 months
Interest Period Four Term		6 months
Interest Period Payment Term		3 months
Prime Rate \| Revolving Credit Facility
Debt Instrument [Line Items]
Description of Variable Rate Basis		Lender's prime rate
Federal Funds Rate \| Revolving Credit Facility
Debt Instrument [Line Items]
Description of Variable Rate Basis		Federal Fund Rate
Unused Capacity, Commitment Fee Percentage		0.50%
Maximum \| Revolving Credit Facility
Debt Instrument [Line Items]
Consolidated Leverage Ratio		2.5
Consolidated Interest Coverage Ratio		3
Current Ratio		1.5
Maximum \| Letter of Credit
Debt Instrument [Line Items]
Debt Instrument, Term		1 year
Maximum \| LIBOR \| Revolving Credit Facility
Debt Instrument [Line Items]
Number of Loans Outstanding \| item		3

Commitments and Contingencies - Schedule of Future Minimum Lease Commitments (Details)	Jun. 30, 2014 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2015	$ 159,011
2016	159,011
2017	13,251
Total	$ 331,273

Commitments and Contingencies - Narrative (Details)			12 Months Ended
Commitments and Contingencies - Narrative (Details)	Aug. 23, 2012	Jul. 26, 2012 USD ($)	Jun. 30, 2014 USD ($) item	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)
Loss Contingencies [Line Items]
Operating Leases, Rent Expense, Net			$ 174,229	$ 147,233	$ 147,233
Frederick M Garcia and Lydia Garcia
Loss Contingencies [Line Items]
Litigation Settlement, Amount		$ 67,000
James H and Kristy S Jones v NGS Sub Corp and Robert S Herlin
Loss Contingencies [Line Items]
Loss Contingencies Percentage of Overriding Royalty Interest in Delhi Unit Purchased	4.8119%
Employment Contracts
Loss Contingencies [Line Items]
Loss Contingency, Number of Senior Executives under Agreement \| item			2
Loss Contingency, Estimate of Possible Loss			$ 591,000
Minimum \| Employment Contracts
Loss Contingencies [Line Items]
Loss Contingency, Period of Benefits to Employee after Termination			6 months
Maximum \| Employment Contracts
Loss Contingencies [Line Items]
Loss Contingency, Period of Benefits to Employee after Termination			1 year

Concentrations of Credit Risk - Schedule of Credit Risk (Details) - Net revenue - Major Customers	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Plains Marketing L.P. (includes Delhi production)
Concentrations of Credit Risk
Percent of Total Revenue	96.00%	90.00%	84.00%
Enterprise Crude Oil LLC
Concentrations of Credit Risk
Percent of Total Revenue	2.00%	4.00%	7.00%
Flint Hills
Concentrations of Credit Risk
Percent of Total Revenue	1.00%	2.00%	1.00%
ETC Texas Pipeline, LTD.
Concentrations of Credit Risk
Percent of Total Revenue	1.00%	0.00%	3.00%
All others
Concentrations of Credit Risk
Percent of Total Revenue	0.00%	4.00%	5.00%
Total
Concentrations of Credit Risk
Percent of Total Revenue	100.00%	100.00%	100.00%

Retirement Plan (Details) - USD ($)	12 Months Ended
Retirement Plan (Details) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Compensation and Retirement Disclosure [Abstract]
Employer match of employee contributions of first 6% of eligible compensation (as a percent)	100.00%
Percentage of eligible compensation, matched 100% by employer	6.00%
Matching contribution to the plan	$ 116,873	$ 89,810	$ 84,738

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) - Schedule of Costs Incurred and Capitalized in Oil and Natural Gas Property Acquisition, Exploration, and Development (Details) - USD ($)	12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012
Property acquisition costs:
Proved property	$ 0	$ 26,449	$ 115,637
Unproved property	47,344	195,599	5,544,217
Exploration costs	757,423	4,356,640	3,016,924
Development costs	18,566	79,035	238,463
Total costs incurred for oil and natural gas activities	$ 823,333	$ 4,657,723	$ 8,915,241

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) - Estimated Quantities of Proved Oil and Natural Gas Reserves (Details)

12 Months Ended

Jun. 30, 2014

Boe

bbl

Mcf

Jun. 30, 2013

Boe

bbl

Mcf

Jun. 30, 2012

Boe

bbl

Mcf

Jun. 30, 2011

Boe

bbl

Mcf

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Balance at the beginning of the period (in BOE) | Boe

13,766,440

13,441,116

13,847,462

Revisions of previous estimates (in BOE) | Boe

(247,350)

^[1]

2,806,181

^[2]

(344,440)

Improved recovery, extensions and discoveries (in BOE) | Boe

132,884

146,249

Sales of minerals in place (in BOE) | Boe

(184,722)

(2,254,038)

Production (sales volumes) (in BOE) | Boe

(177,742)

(226,819)

(208,155)

Balance at the end of the period (in BOE) | Boe

13,289,510

13,766,440

13,441,116

Proved developed reserves (in BOE) | Boe

7,970,562

10,089,861

8,032,809

5,344,471

Crude Oil

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Balance at the beginning of the period (in Bbls/Mcf)

12,782,755

11,638,618

11,567,846

Revisions of previous estimates (in Bbls/Mcf)

(1,919,052)

^[1]

1,826,053

^[2]

84,219

Improved recovery, extensions and discoveries (in Bbls/Mcf) | Mcf

17,146

137,634

Sales of minerals in place (in Bbls/Mcf)

(184,722)

(485,536)

Production (sales volumes) (in Bbls/Mcf)

(169,783)

(196,380)

(151,081)

Balance at the end of the period (in Bbls/Mcf)

10,526,344

12,782,755

11,638,618

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Proved developed reserves (in Bbls/Mcf)

7,858,224

10,077,522

7,670,934

4,986,337

Natural Gas Liquids

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Balance at the beginning of the period (in Bbls/Mcf)

979,885

492,473

712,300

Revisions of previous estimates (in Bbls/Mcf)

1,269,588

^[1]

975,515

^[2]

(212,677)

Improved recovery, extensions and discoveries (in Bbls/Mcf) | Mcf

32,731

5,461

Sales of minerals in place (in Bbls/Mcf)

(480,832)

Production (sales volumes) (in Bbls/Mcf)

(3,516)

(7,271)

(12,611)

Balance at the end of the period (in Bbls/Mcf)

2,278,688

979,885

492,473

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Proved developed reserves (in Bbls/Mcf)

32,164

8,539

111,978

100,900

Natural Gas

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Balance at the beginning of the period (in Bbls/Mcf) | Mcf

22,797

7,860,156

9,403,899

Revisions of previous estimates (in Bbls/Mcf) | Mcf

2,412,677

^[1]

27,679

^[2]

(1,295,893)

Improved recovery, extensions and discoveries (in Bbls/Mcf) | Mcf

498,044

18,925

Sales of minerals in place (in Bbls/Mcf) | Mcf

(7,726,032)

Production (sales volumes) (in Bbls/Mcf) | Mcf

(26,655)

(139,006)

(266,775)

Balance at the end of the period (in Bbls/Mcf) | Mcf

2,906,863

22,797

7,860,156

Estimated quantities of proved oil and natural gas reserves and changes in quantities of proved developed and undeveloped reserves

Proved developed reserves (in Bbls/Mcf) | Mcf

481,042

22,797

1,499,382

1,543,401

[1]

Significant reserve revisions occurred in the Delhi Field during fiscal 2014. As a result of an adverse fluid release event in the Field, certain oil reserves were reclassified from proved to an unproved category based on the operator's decision to defer CO2 injections in certain parts of the Field. There was a positive revision to estimated proved reserves of natural gas liquids and natural gas as a result of an improved design for the gas plant in the Delhi Field. The plant is expected to significantly increase recoveries of these products, particularly natural gas, which was not previously planned to be extracted from the injection volumes.

[2]

A significant upward reserve revision occurred in the Delhi Field during fiscal 2013 as a result of (1) revised geological maps based on production results and acquired seismic data, (2) inclusion of an additional reservoir with similar features, production history and suitability for EOR, and (3) inclusion of natural gas processing at Delhi.

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) - Standardized Measure of Discounted Future Net Cash Flows Related to Proved Oil and Natural Gas Reserves (Details) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Standardized measure of discounted future net cash flows
Future cash inflows	$ 1,193,515,075	$ 1,436,980,607	$ 1,355,686,188
Future production costs and severance taxes	(475,387,931)	(510,902,614)	(458,716,938)
Future development costs	(46,154,178)	(60,742,406)	(38,458,724)
Future income tax expenses	(195,581,510)	(275,113,560)	(296,703,838)
Future net cash flows	476,391,456	590,222,027	561,806,688
10% annual discount for estimated timing of cash flows	(250,313,784)	(283,001,328)	(278,209,195)
Standardized measure of discounted future net cash flows	$ 226,077,672	$ 307,220,699	$ 283,597,493	$ 228,447,954

- Roll Forward of Changes in Standardized Measure of Discount Future Cash Flows on Proved Crude Oil, Natural Gas Liquids, and Natural Gas Reserves (Details) - USD ($)

12 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2012

Changes in the standardized measure of discounted future net cash flows applicable to proved crude oil, natural gas liquids, and natural gas reserves

Balance, beginning of year

$ 307,220,699

$ 283,597,493

$ 228,447,954

Net changes in sales prices and production costs related to future production

(73,439,526)

(35,184,725)

76,942,613

Changes in estimated future development costs

9,848,614

(566,125)

6,340,123

Sales of oil and gas produced during the period, net of production costs

(16,479,934)

(19,569,182)

(16,187,039)

Net change due to extensions, discoveries, and improved recovery

775,574

1,606,122

Net change due to revisions in quantity estimates

(23,757,788)

64,817,544

(11,975,496)

Net change due to sales of minerals in place

(3,150,277)

(34,119,027)

Development costs incurred during the period

747,656

(2,639,398)

Accretion of discount

45,896,187

41,678,733

22,568,868

Net change in discounted income taxes

58,073,450

10,175,957

(15,026,628)

Net changes in timing of production and other

^[1]

(78,909,327)

(4,357,625)

(6,479,626)

Balance, end of year

$ 226,077,672

$ 307,220,699

$ 283,597,493

[1]

The operator has expressed current plans to produce the Delhi Field at lower production rates. The decision to produce these reserves at lower rates over a longer period of time did not materially change the total quantities expected to be recovered, but resulted in a significant reduction in the discounted value of these reserves as of June 30, 2014.

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) - Schedule of NYMEX Prices Used in Determining Future Cash Flows (Details)	12 Months Ended
	Jun. 30, 2014 $ / bbl $ / MMBtu	Jun. 30, 2013 $ / bbl $ / MMBtu	Jun. 30, 2012 $ / bbl $ / MMBtu
Gas (per million BTU)
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Commodity Prices Used in Determining Future Cash Flows \| $ / MMBtu	4.10	3.44	3.15
Oil (per barrel)
Average Sales Price and Production Costs Per Unit of Production [Line Items]
Commodity Prices Used in Determining Future Cash Flows \| $ / bbl	100.37	91.51	95.67

Supplemental Disclosures about Oil and Natural Gas Producing Properties (unaudited) - Narrative (Details)

12 Months Ended

Jun. 30, 2014

USD ($)

Boe

Jun. 30, 2013

USD ($)

Boe

Jun. 30, 2012

USD ($)

Boe

Jun. 30, 2011

Boe

Reserve Quantities [Line Items]

Oil and natural gas property costs attributable to the recognition of asset retirement obligations | $

$ 66,976

$ 65,575

$ 93,522

Period Considered for Unweighted Arithmetic Average for Determining Reserve Volumes and Values

12 months

Proved Developed and Undeveloped Reserves Energy Equivalents, Net

13,289,510

13,766,440

13,441,116

13,847,462

Period Considered for Determining Unweighted Arithmetic Average of First Day of Month, Commodity Prices

12 months

Proved Developed and Undeveloped Reserves Energy Equivalents Revisions of Previous Estimates Increase (Decrease)

(247,350)

^[1]

2,806,181

^[2]

(344,440)

Proved Developed and Undeveloped Reserves Energy Equivalents Production

177,742

226,819

208,155

Proved Developed and Undeveloped Reserves Energy Equivalents Sales of Minerals in Place

184,722

2,254,038

[1]

[2]

Selected Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, shares in Millions

3 Months Ended

12 Months Ended

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

^[3]

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2012

Revenues

$ 4,310,514

$ 4,337,006

^[1]

$ 4,392,289

^[2]

$ 4,633,699

$ 5,399,749

$ 6,010,567

$ 5,648,058

$ 4,291,546

$ 17,673,508

$ 21,349,920

$ 17,962,038

Operating income (loss)

2,364,811

1,357,534

^[1]

(158,095)

^[2]

1,963,897

2,351,546

3,394,531

3,024,721

1,930,556

5,528,147

10,701,354

8,829,274

Net income (loss) available to common shareholders

$ 1,441,469

$ 755,125

^[1]

$ (577,459)

^[2]

$ 1,303,876

$ 944,012

$ 2,228,467

$ 1,790,696

$ 990,951

$ 2,923,011

$ 5,954,126

$ 4,501,739

Basic net income per share (in dollars per share)

$ 0.04

$ 0.02

^[1]

$ (0.02)

^[2]

$ 0.05

$ 0.03

$ 0.08

$ 0.06

$ 0.04

$ 0.09

$ 0.21

$ 0.16

Diluted net income per share (in dollars per share)

$ 0.04

$ 0.02

^[1]

$ (0.02)

^[2]

$ 0.04

$ 0.03

$ 0.07

$ 0.06

$ 0.03

$ 0.09

$ 0.19

$ 0.14

Restructuring charges

$ 1,300,000

$ 1,293,186

^[4]

$ 0

^[4]

$ 0

^[4]

Non-cash stock-based compensation expense

$ 800,000

Options and Incentive Warrants, Exercises (in shares)

4.0

Options and Incentive Warrants Outstanding, Beginning of Period (in shares)

4.8

Difference in the actual taxable income and expected book income due to lower revenue

600,000

Difference in the actual taxable income and expected book income due to higher general and administrative expense

$ 400,000

Officer

Salaries, Wages and Officers' Compensation

$ 608,000

[1]	Includes $608,000 of non-recurring expenses related to the retirement of an officer of the Company.
[2]	Reflects a $1.3 million restructuring charge and $0.8 million of non-recurring expenses primarily associated with the exercise of 4.0 million of 4.8 million of previously outstanding stock options and warrants.
[3]	The tax provision for fiscal 2013 reflects a higher effective tax rate compared to the estimated annual effective rate at March 31, 2013. The March effective rate included the favorable effect depletion in excess of basis and was based on the Company's estimate of taxable ordinary income at that time. In contrast to the March forecast, actual taxable income for fiscal 2013 was lower due to a taxable loss on the sale of assets in June 2013 and lower than expected book income due to $0.6 million of lower Delhi Field revenue and $0.4 million of higher general and administrative expense, primarily attributable to an increase in accrued bonus, shelf registration costs and an engineering study.
[4]	Restructuring charges for the year ended June 30, 2014 included non-cash stock-based compensation expense of $376,365.