Red Mountain Resources (RDMP) 10-Q 10 Feb 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Dec. 31, 2013	Feb. 06, 2014
Document And Entity Information	'	'
Entity Registrant Name	'RED MOUNTAIN RESOURCES, INC.	'
Entity Central Index Key	'0001483496	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Accelerated Filer	'
Trading Symbol	'rdmp	'
Entity Current Reporting Status	'Yes	'
Entity Wel Known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Common Stock, Shares Outstanding	'	13,401,311
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Dec-13	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (unaudited) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$1,866	$1,112
Accounts receivable - oil and natural gas sales	2,372	3,522
Accounts receivable - joint interest	1,002	2,604
Debt issuance costs	230	230
Prepaid expenses and other current assets	685	420
Commodities derivative asset - current	'	190
Deferred tax asset - current	458	299
Total current assets	6,613	8,377
Long-Term Investments:	'	'
Debentures - held to maturity	4,820	4,279
Oil and Natural Gas Properties, Successful Efforts Method:	'	'
Proved properties	71,498	63,891
Unproved properties	19,796	19,539
Other property and equipment	1,191	1,026
Less accumulated depreciation, depletion and impairment	-14,230	-9,324
Oil and natural gas properties, net	78,255	75,132
Other Assets:	'	'
Commodities derivative asset, net of current portion	'	75
Restricted cash, long-term	465	452
Debt issuance costs, net of current portion	1,681	450
Security deposit and other assets	71	465
Total Assets	91,905	89,230
Current Liabilities:	'	'
Accounts payable	6,634	9,354
Revenues payable	1,147	774
Preferred dividend payable	249	'
Accrued expenses	3,042	1,137
Commodities derivative liability	54	34
Convertible notes payable, net of discount of $0 and $442, respectively	'	3,308
Notes payable - current	'	500
Asset retirement obligation - current	242	228
Environmental remediation liability- current	1,400	1,400
Total current liabilities	12,768	16,735
Long-Term Liabilities:	'	'
Line of credit, net of current portion	14,800	19,800
Mandatorily redeemable preferred stock, net of discount of $3,300 and $0, respectively	8,631	'
Environmental remediation liability, net of current portion	688	688
Deferred tax liability - long-term	458	299
Asset retirement obligation, net of current portion	4,969	4,751
Total long-term liabilities	29,546	25,538
Total Liabilities	42,314	42,273
Commitments and Contingencies (Note 10)	'	'
Stockholders' Equity:	'	'
Common stock, $0.00001 par value; 50,000 shares authorized; 13,422 shares issued and 13,401 outstanding as of December 31, 2013; 12,692 shares issued and 12,596 shares outstanding as of May 31, 2013	1	1
Noncontrolling interest	5,806	5,603
Additional paid-in capital	72,078	65,536
Accumulated deficit	-28,294	-24,183
Total stockholders' equity	49,591	46,957
Total Liabilities and Stockholders' Equity	$91,905	$89,230

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Discount on convertible notes payable, current liability	$0	$442
Discount on mandatorily redeemable preferred stock	$3,300	$0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, authorized shares	50,000	50,000
Common stock, issued shares	13,422	12,692
Common stock, outstanding shares	13,401	12,596

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Nov. 30, 2012	Dec. 31, 2013	Nov. 30, 2012
Revenue:	'	'	'	'
Oil and natural gas sales	$4,467	$1,108	$10,241	$2,454
Operating Expenses:	'	'	'	'
Exploration expense	327	12	428	31
Production taxes	573	19	1,178	103
Lease operating expenses	707	199	1,455	565
Natural gas transportation and marketing expenses	37	35	74	59
Depreciation, depletion, amortization and impairment	2,162	591	4,252	1,998
Accretion of discount on asset retirement obligation	68	15	135	30
General and administrative expense	1,915	1,446	3,859	4,099
Total operating expenses	5,789	2,317	11,381	6,885
Income (Loss) from Operations	-1,322	-1,209	-1,140	-4,431
Other Income (Expense):	'	'	'	'
Change in fair value of derivative liability	'	92	'	92
Unrealized gain on investment in Cross Border Resources, Inc. warrants	'	-922	'	-692
Equity in earnings of Cross Border Resources, Inc.	'	-443	'	-431
Interest expense	-887	-756	-1,815	-1,437
Unrealized loss on debentures	'	'	'	-48
Unrealized gain (loss) on commodity derivatives	64	'	-231	'
Realized gain (loss) on commodity derivatives	37	'	-51	'
Total Other Expense	-786	-2,029	-2,097	-2,516
Loss Before Income Taxes	-2,108	-3,238	-3,237	-6,947
Income tax provision	'	'	'	'
Net loss	-2,108	-3,238	-3,237	-6,947
Net income (loss) attributable to non-controlling interest	97	'	243	'
Net loss attributable to Red Mountain Resources, Inc	($2,205)	($3,238)	($3,480)	($6,947)
Basic and diluted net loss per common share (in dollars per share)	($0.16)	($0.36)	($0.26)	($0.78)
Basic and diluted weighted average common shares outstanding (in shares)	13,372,000	9,053,000	13,147,000	8,904,000

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Nov. 30, 2012
Cash Flow From Operating Activities:	'	'
Net loss	($3,237)	($6,947)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'
Depreciation, depletion, amortization and impairment	4,252	1,998
Equity in earnings of Cross Border Resources, Inc.	'	431
Amortization of debt issuance costs	894	895
Accretion of discount on asset retirement obligation	135	30
Dividend accrued for mandatorily redeemable preferred stock	249	'
Unrealized gain on investment in Cross Border Resources, Inc. warrants	'	692
Unrealized gain on derivative liability	318	-92
Loss on debentures	'	48
Change in working capital:	'	'
Accounts receivable - oil and natural gas sales	2,301	297
Accounts receivable - other	664	-462
Prepaid expenses and other assets	434	156
Accounts payable	-2,674	2,778
Restricted cash	-13	25
Accrued expenses	1,629	-236
Net cash provided by (used in) operating activities	4,952	-387
Cash Flow From Investing Activities:	'	'
Additions to oil and natural gas properties	-7,076	-408
Additions to other property and equipment	-139	-55
Settlement of asset retirement obligations	'	-54
Net cash used in investing activities	-7,215	-517
Cash Flow From Financing Activities:	'	'
Proceeds from issuance of common shares, net of issuance costs	3,605	'
Proceeds from issuance of preferred stock, net of issuance costs	7,068	'
Exercise of warrants	'	150
Net borrowings under line of credit	'	-231
Proceeds from notes payable	'	1,400
Payments on line of credit	-5,000	'
Payments on notes payable	-2,000	-201
Net cash provided by financing activities	3,673	1,118
Net change in cash and equivalents	1,410	214
Cash at beginning of period	456	168
Cash at end of period	1,866	382
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for interest	1,220	327
Non-Cash Transactions	'	'
Change in asset retirement obligation estimate	57	21
Issuance of shares for investment in Cross Border Resources, Inc.	'	4,667
Convertible notes payable derivative liability	'	300
Issuance of shares for debentures	541	879
Issuance of shares for equipment	'	14
Issuance of shares for debt issuance costs	'	161
Issuance of warrants with preferred stock	$2,395	$49

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (USD $)	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Share Subscription Receivable	Noncontrolling Interest	Total
Balance, beginning at May. 31, 2012	$869	$30,548,000	($10,079,000)	($150,000)	'	$20,320,000
Balance, beginning, shares at May. 31, 2012	8,693	'	'	'	'	'
Issuance of shares, net of offering costs	116	7,290,000	'	-100,000	'	7,190,000
Issuance of shares, net of offering costs, shares	1,160	'	'	'	'	'
Issuance of shares for investment in Cross Border Resources, Inc.	157	15,236,000	'	'	'	15,236,000
Issuance of shares for investment in Cross Border Resources, Inc., shares	1,573	'	'	'	'	'
Adjustment for consolidation of Cross Border Resources, Inc.	'	'	-1,902,000	'	6,359,000	4,457,000
Acquisition of additional minority interest in Cross Border Resources, Inc.	12	1,438,000	'	'	-1,438,000	'
Acquisition of additional minority interest in Cross Border Resources, Inc., shares	117	'	'	'	'	'
Issuance of shares for investment in Cross Border Resources, Inc. subordinated debt	19	1,744,000	'	'	'	1,744,000
Issuance of shares for investment in Cross Border Resources, Inc. subordinated debt, shares	194	'	'	'	'	'
Issuance of shares to settle Cross Border Resources, Inc. bankruptcy claims	7	634,000	'	'	'	634,000
Issuance of shares to settle Cross Border Resources, Inc. bankruptcy claims, shares	75	'	'	'	'	'
Issuance of warrants for investment in warrants of Cross Border Resources, Inc.	'	37,000	'	'	'	37,000
Issuance of shares for acquisition of oil and gas properties	24	2,232,000	'	'	'	2,232,000
Issuance of shares for acquisition of oil and gas properties, shares	238	'	'	'	'	'
Issuance of shares for equipment	'	14,000	'	'	'	14,000
Issuance of shares for equipment, shares	1	'	'	'	'	'
Issuance of shares for stock issuance liability	1	68,000	'	'	'	68,000
Issuance of shares for stock issuance liability, shares	8	'	'	'	'	'
Issuance of shares for debentures	57	4,782,000	'	'	'	4,782,000
Issuance of shares for debentures, shares	570	'	'	'	'	'
Issuance of shares for debt issuance costs	1	161,000	'	'	'	161,000
Issuance of shares for debt issuance costs, shares	12	'	'	'	'	'
Issuance of warrants for debt issuance costs	'	133,000	'	'	'	133,000
Issuance of shares for services	3	229,000	'	'	'	229,000
Issuance of shares for services, shares	26	'	'	'	'	'
Issuance of shares to brokers	3	212,000	'	'	'	212,000
Issuance of shares to brokers, shares	25	'	'	'	'	'
Issuance of warrants to brokers	'	249,000	'	'	'	249,000
Issuance of options	'	529,000	'	'	'	529,000
Cash received for subscriptions receivable	'	'	'	250,000	'	250,000
Net income (loss)	'	'	-12,202,000	'	682,000	-11,520,000
Balance, ending at May. 31, 2013	1,269	65,536,000	-24,183,000	'	5,603,000	46,957,000
Balance, ending, shares at May. 31, 2013	12,692	'	'	'	'	12,692
Net income (loss)	'	'	-631,000	'	-40,000	-671,000
Balance, ending at Jun. 30, 2013	1,269	65,536,000	-24,814,000	'	5,564,000	46,287,000
Balance, ending, shares at Jun. 30, 2013	12,692	'	'	'	'	'
Issuance of shares, net of offering costs	64	3,605,000	'	'	'	3,605,000
Issuance of shares, net of offering costs, shares	643	'	'	'	'	'
Issuance of warrants with preferred stock	'	2,395,000	'	'	'	2,395,000
Issuance of shares for debentures	9	542,000	'	'	'	542,000
Issuance of shares for debentures, shares	87	'	'	'	'	'
Net income (loss)	'	'	-3,480,000	'	243,000	-3,237,000
Balance, ending at Dec. 31, 2013	$1,342	$72,078,000	($28,294,000)	'	$5,806,000	$49,591,000
Balance, ending, shares at Dec. 31, 2013	13,422	'	'	'	'	13,422

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $)	0 Months Ended	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Aug. 31, 2013	Dec. 31, 2013	31-May-13
Statement of Stockholders' Equity [Abstract]	'	'	'
Offering costs	$900	$895	$1,351

Organization

Organization	6 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization	'
	1.  Organization
	Red Mountain Resources, Inc. is a growth-oriented energy company engaged in the acquisition, development and exploration of oil and natural gas properties in established basins with demonstrable prolific producing zones. Currently, the Company has established acreage positions and production primarily in the Permian Basin of West Texas and Southeast New Mexico and the onshore Gulf Coast of Texas. The Company’s focus is to grow production and reserves by acquiring and developing an inventory of long-life, low risk drilling opportunities in and around producing oil and natural gas properties. Unless the context otherwise requires, the terms “Red Mountain” and “Company” refer to Red Mountain Resources, Inc. and its consolidated subsidiaries.

Significant_Accounting_Policie

Significant Accounting Policies	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	2.  Significant Accounting Policies
	Basis of Presentation
	The condensed consolidated financial statements include the accounts of Red Mountain Resources, Inc. and its subsidiaries. The condensed consolidated financial statements and related footnotes are presented in accordance with generally accepted accounting principles in the United States (“GAAP”).
	The Company has prepared the accompanying unaudited interim financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), and in the opinion of management, such financial statements reflect all adjustments necessary to present fairly the consolidated financial position of the Company at December 31, 2013 and its results of operations and cash flows for the periods presented. The Company has omitted certain information and disclosures normally included in annual financial statements prepared in accordance with GAAP pursuant to those rules and regulations, although the Company believes that the disclosures it has made are adequate to make the information presented not misleading. These unaudited interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related footnotes included in its most recent Annual Report on Form 10-K.
	In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the financial statements and disclosures. The results of operations for the interim periods are not necessarily indicative of the results the Company expects for the full fiscal year. The Company has not made any changes in its significant accounting policies from those disclosed in its most recent Annual Report on Form 10-K.
	The Company effected a reverse stock split of its outstanding common stock at a ratio of one-for-ten (1:10) on January 31, 2014. Retroactive application of the reverse stock split is required and all share and per share information included for all periods presented in these financial statements reflect the reverse stock split.
	On July 17, 2013, the Company’s board of directors approved a change in the Company’s fiscal year end from May 31 to June 30, effective as of June 30, 2013.  The change in the Company’s fiscal year end resulted in a one-month transition period that began on June 1, 2013 and ended on June 30, 2013.
	As a result of this change, in the Condensed Consolidated Statements of Operations, the Company compares the three-month period ended December 31, 2013 with the previously reported three-month period ended November 30, 2012 and the six-month period ended December 31, 2013 with the previously reported six-month period ended November 30, 2012. Financial information for the three and six months ended December 31, 2012 has not been included in this Quarterly Report on Form 10-Q for the following reasons: (i) the three and six months ended November 30, 2012 provide a meaningful comparison for the three and six months ended December 31, 2013; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for the three and six months ended December 31, 2012 were presented in lieu of results for the three and six months ended November 30, 2012; and (iii) it was not practicable or cost justified to prepare this information.
	Business Combinations
	The Company accounts for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”). The acquisition method requires that assets acquired and liabilities assumed including contingencies be recorded at their fair values as of the acquisition date. The Company has finalized the determination of the fair values of the assets acquired and liabilities assumed for Cross Border Resources, Inc. (“Cross Border”).
	Noncontrolling Interests
	Subsequent to January 28, 2013, the Company accounts for the noncontrolling interest in Cross Border in accordance with ASC Topic 810, Consolidation (“ASC 810”). ASC 810 establishes accounting and reporting standards for ownership interests in subsidiaries held by parties other than the parent, the amount of consolidated net income attributable to the parent and to the noncontrolling interest, changes in a parent’s ownership interest and the valuation of retained noncontrolling equity investments when a subsidiary is deconsolidated. ASC 810 also establishes reporting requirements that provide sufficient disclosures that clearly identify and distinguish between the interest of the parent and the interests of the noncontrolling owner. In addition, this guidance provides for increases and decreases in the Company’s controlling financial interests in consolidated subsidiaries to be reported in equity similar to treasury stock transactions.
	Investments
	Prior to January 28, 2013, the Company’s investment in Cross Border was accounted for under the equity method of accounting based on the Company’s significant influence. The determination of whether the Company exercises significant influence with respect to an investee depends on an evaluation of several factors, including, among others, ownership level. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Condensed Consolidated Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s Condensed Consolidated Balance Sheets. The Company evaluates these investments for other-than-temporary declines in value each quarterly period. Any impairment found to be other than temporary would be recorded through a charge to earnings.
	Investments in Non-Performing Debentures
	The Company’s investments in non-performing debentures were initially recorded at cost which the Company believes was fair value. Management estimated cash flows expected to be collected considering the contractual terms of the loans, the nature and estimated fair value of collateral, and other factors it deemed appropriate. The estimated fair value of the loans at acquisition was significantly less than the contractual amounts due under the terms of the loan agreements.
	Since, at the acquisition date, the Company expected to collect less than the contractual amounts due under the terms of the loans based, at least in part, on the assessment of the credit quality of the borrower, the loans are accounted for in accordance with ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”). The difference between the contractually required payments on the loans as of the acquisition date and the total cash flows expected to be collected, or non-accretable difference, is not recognized and totaled $2.5 million and $1.5 million, plus accrued interest in arrears, as of December 31, 2013 and November 30, 2012, respectively.
	Debentures are classified as non-accrual when management is unable to reasonably estimate the timing or amount of cash flows expected to be collected from the debentures or has serious doubts about further collectability of principal or interest.  As of December 31, 2013 and May 31, 2013, all of the Company’s debentures were on non-accrual status since the borrower remains under the supervision of the bankruptcy court.
	The Company periodically re-evaluates cash flows expected to be collected for each debenture based upon all available information as of the measurement date. Subsequent increases in cash flows expected to be collected are recognized prospectively through an adjustment to the debenture’s yield over its remaining life, which may result in a reclassification from non-accretable difference to accretable yield. Subsequent decreases in cash flows expected to be collected are evaluated to determine whether a provision for loan loss should be established. If decreases in expected cash flows result in a decrease in the estimated fair value of the debenture below its amortized cost, the debenture is deemed to be impaired, and the Company will record a provision for impairment to write the debenture down to its estimated fair value. The Company did not record any impairment on the debentures during the six months ended December 31, 2013 and November 30, 2012.
	The Company’s investments in non-performing debentures are classified as held to maturity because the Company has the intent and ability to hold them until maturity.
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, an amendment to FASB Accounting Standards Codification Topic 740, Income Taxes (“ASU 2013-11”). ASU 2013-11 clarifies 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 if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where 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 or the tax law of the jurisdiction does not require, 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. ASU 2013-11 is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is permitted. The Company is currently evaluating the impact of ASU 2013-11 on its consolidated financial statements and financial statement disclosures.

Oil_and_Natural_Gas_Properties

Oil and Natural Gas Properties and Other Property and Equipment	6 Months Ended
	Dec. 31, 2013
Oil and Gas Exploration and Production Industries Disclosures [Abstract]	'
Oil and Natural Gas Properties and Other Property and Equipment	'
	3.  Oil and Natural Gas Properties and Other Property and Equipment
	Oil and Natural Gas Properties
	The following table sets forth the capitalized costs under the successful efforts method for oil and natural gas properties:
	(in thousands)	December 31,			May 31,
		2013			2013
	Oil and natural gas properties:
	Proved	$	71,498		$	63,891
	Unproved		19,796			19,539
	Total oil and natural gas properties		91,294			83,430
	Less accumulated depletion and impairment		(13,959	)		(9,140	)
	Net oil and natural gas properties capitalized costs	$	77,335		$	74,290
	At December 31, 2013 and May 31, 2013, the capitalized costs of the Company’s oil and natural gas properties included (i) $36.9 million and $39.2 million, respectively, relating to acquisition costs of proved properties which are being amortized by the unit-of-production method using total proved reserves and (ii) $25.5 million and $26.8 million, respectively, relating to exploratory well costs and additional development costs which are being amortized by the unit-of-production method using proved developed reserves.
	During the three and six months ended December 31, 2013 and November 30, 2012, the Company did not incur any significant exploratory drilling costs. The Company had no transfers of exploratory well costs to proved properties during the three and six months ended December 31, 2013 and November 30, 2012.
	The Company recorded no impairment during the three and six months ended December 31, 2013. The Company recorded $0.4 million of impairment related to its unproved oil and natural gas properties for the three and six months ended November 30, 2012 related to expiring acreage.
	Capitalized costs related to proved oil and natural gas properties, including wells and related equipment and facilities, are evaluated for impairment based on the Company’s analysis of undiscounted future net cash flows. If undiscounted future net cash flows are insufficient to recover the net capitalized costs related to proved properties, then the Company recognizes an impairment charge in income equal to the difference between the carrying value and the estimated fair value of the properties. Estimated fair values are determined using discounted cash flow models. The discounted cash flow models include management’s estimates of future oil and natural gas production, operating and development costs and discount rates. The Company did not record any impairment charges on its proved properties for the three and six months ended December 31, 2013 and November 30, 2012.
	Other Property and Equipment
	The historical cost of other property and equipment, presented on a gross basis with accumulated depreciation and amortization is summarized as follows:
	(in thousands)	December 31,			May 31,
		2013			2013
	Other property and equipment	$	1,191		$	1,026
	Less accumulated depreciation and amortization		(271	)		(184	)
	Net property and equipment	$	920		$	842

Asset_Retirement_Obligations

Asset Retirement Obligations	6 Months Ended
	Dec. 31, 2013
Asset Retirement Obligation Disclosure [Abstract]	'
Asset Retirement Obligations	'
	4.  Asset Retirement Obligations
	The following table summarizes the changes in the Company’s asset retirement obligations (“AROs”) for the six months ended December 31, 2013 and the fiscal year ended May 31, 2013:
	(in thousands)	December 31,		May 31,
		2013		2013
	Asset retirement obligations at beginning of period	$	5,019	$	836
	Liabilities incurred		49		22
	Liabilities settled		—		(53	)
	Acquisitions		—		3,728
	Accretion expense		135		150
	Revisions in estimated liabilities		8		296
	Asset retirement obligations at end of period		5,211		4,979
	Less: current portion		242		228
	Long-term portion	$	4,969	$	4,751
	During the three and six months ended December 31, 2013 and the fiscal year ended May 31, 2013, the Company recorded upward revisions to previous estimates for its ARO primarily due to changes in the estimated future cash outlays.

Derivatives

Derivatives	6 Months Ended
	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives	'
	5.   Derivatives
	At December 31, 2013, the Company had the following commodity derivatives positions outstanding:
	Commodity and Time Period		Contract		Volume Transacted	Contract Price
			Type
	Crude Oil
	January 1, 2014―August 31, 2014	Collar - Minimum	Option		437-1,936 Bbls/month	$80.00/Bbl
	January 1, 2014―August 31, 2014	Collar - Maximum	Option		437-1,936 Bbls/month	$100.50/Bbl
	January 1, 2014―November 30, 2014		Swap		2,000 Bbls/month	$93.50/Bbl
	January 1, 2014―February 28, 2014		Swap		1,000 Bbls/month	$106.50/Bbl
	January 1, 2014―March 31, 2014		Put		2,000 Bbls/month	$95.00/Bbl
	The following table summarizes the fair value of the Company’s open commodity derivatives as of December 31, 2013 and May 31, 2013:
		Balance Sheet Location	Fair Value
			December 31,			May 31,
	(in thousands)		2013			2013
	Derivatives not designated as hedging instruments
	Commodity derivatives	Commodities derivative asset	$	—		$	265
	Commodity derivatives	Commodities derivative liability	$	54		$	34
	The following tables summarize the change in the fair value of the Company’s commodity derivatives:
		Income Statement Location	Three Months Ended,
			December 31,			November 30,
	(in thousands)		2013			2012
	Derivatives not designated as hedging instruments
	Commodity derivatives	Realized gain on commodity derivatives	$	37		$	—
		Unrealized gain on commodity derivatives		64			—
			$	101		$	—
		Income Statement Location	Six Months Ended,
			December 31,			November 30,
	(in thousands)		2013			2012
	Derivatives not designated as hedging instruments
	Commodity derivatives	Realized loss on commodity derivatives	$	(51	)	$	—
		Unrealized gain on commodity derivatives		(231	)		—
			$	(282	)	$	—
	Unrealized gains and losses, at fair value, are included on the Company’s Condensed Consolidated Balance Sheets as current or non-current assets or liabilities based on the anticipated timing of cash settlements under the related contracts. Changes in the fair value of the Company’s commodity derivatives contracts are recorded in earnings as they occur and included in other income (expense) on the Company’s Condensed Consolidated Statements of Operations. The Company estimates the fair values of swap contracts based on the present value of the difference in exchange-quoted forward price curves and contractual settlement prices multiplied by notional quantities. The Company internally valued the option contracts using industry-standard option pricing models and observable market inputs. The Company uses its internal valuations to determine the fair values of the contracts that are reflected on its Condensed Consolidated Balance Sheets. Realized gains and losses are also included in other income (expense) on the Company’s Condensed Consolidated Statements of Operations.
	The Company is exposed to credit losses in the event of nonperformance by the counterparties on its commodity derivatives positions and has considered the exposure in its internal valuations. However, the Company does not anticipate nonperformance by the counterparties over the term of the commodity derivatives positions.
	In connection with the closing of the Senior First Lien Secured Credit Agreement (as amended, the “Credit Agreement”), the Company was required to enter into hedging agreements effectively hedging at least 50% of the oil volumes of the Company and its subsidiaries.  At the same time, the Company entered into a Novation Agreement with BP Energy Company, LP (“BP Energy”) that transferred Cross Border’s then-existing swap agreements to the Company.  Pursuant to an Inter-Borrower Agreement between the Company and Cross Border, the Company allocates these swap agreements back to Cross Border and may allocate future hedging agreements related to Cross Border’s production to Cross Border.

Fair_Value_Measurements

Fair Value Measurements	6 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	6.  Fair Value Measurements
	Fair value measurements are based upon inputs that market participants use in pricing an asset or liability, which are classified into two categories: observable inputs and unobservable inputs. Observable inputs represent market data obtained from independent sources, whereas unobservable inputs reflect a company’s own market assumptions, which are used if observable inputs are not reasonably available without undue cost and effort. These two types of inputs are further prioritized into the following fair value input hierarchy:
	●	Level 1 - quoted prices for identical assets or liabilities in active markets.
	●	Level 2 - quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (e.g. interest rates) and inputs derived principally from or corroborated by observable market data by correlation or other means.
	●	Level 3 - unobservable inputs for the asset or liability.
	The fair value input hierarchy level to which an asset or liability measurement in its entirety falls is determined based on the lowest level input that is significant to the measurement in its entirety.
	The following table summarizes the valuation of the Company’s financial assets and liabilities at December 31, 2013 and May 31, 2013:
			Fair Value Measurements at Reporting Date Using
	(in thousands)		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant or Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at December 31, 2013
	Assets:
	Commodity derivatives		$	—	$	—		$	—		$	—
	2009A and 2009B Debentures of O&G Leasing, LLC (nonrecurring)			—		—			4,820			4,820
	Total		$	—	$	—		$	4,820		$	4,820
	Liabilities:
	Asset retirement obligations (non-recurring)		$	—	$	—		$	(5,211	)	$	(5,211	)
	Commodity derivative			—		(54	)		—			(54	)
	Environmental remediation liability			—		—			(2,088	)		(2,088	)
	Total		$	—	$	(54	)	$	(7,299	)	$	(7,353	)
			Fair Value Measurements at Reporting Date Using
	(in thousands)		Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant or Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at May 31, 2013
	Assets:
	Commodity derivatives		$	—	$	265		$	—		$	265
	Oil and gas properties impairment (nonrecurring)			—		—			(411	)		(411	)
	2009A and 2009B Debentures of O&G Leasing, LLC (nonrecurring)			—		—			4,279			4,279
	Total		$	—	$	265		$	3,868		$	4,133
	Liabilities:
	Asset retirement obligations (non-recurring)		$	—	$	—		$	(4,979	)	$	(4,979	)
	Commodity derivative			—		(34	)		—			(34	)
	Environmental remediation liability			—		—			(2,088	)		(2,088	)
	Total		$	—	$	(34	)	$	(7,067	)	$	(7,101	)

Debt

Debt	6 Months Ended
	Dec. 31, 2013
Debt	'
Debt	'
	7.  Debt
	As of the dates indicated, the Company’s debt consisted of the following:
	(in thousands)	December 31,			May 31,
		2013			2013
	Credit Agreement	$	14,800		$	19,800
	Subordinated Note		—			500
	Convertible notes payable, net of discount of $0 and $442, respectively		—			3,308
	Mandatorily redeemable preferred, net of discount of $3,300 and $0, respectively		8,631			—
	Total debt		23,431			23,608
	Less: short-term portion		—			3,808
	Long-term debt	$	23,431		$	19,800
	Credit Facility
	On February 5, 2013, the Company entered into the Credit Agreement with Cross Border, Black Rock Capital, Inc. and RMR Operating, LLC (the Company, Cross Border, Black Rock Capital, Inc. and RMR Operating, LLC, jointly and severally, the “Borrowers”) and Independent Bank, as Lender. The Credit Agreement provides for an up to $100.0 million revolving credit facility (as amended, the “Credit Facility”) with an initial commitment of $20.0 million and a maturity date of February 5, 2016.  The borrowing base under the Credit Facility is determined at the discretion of the Lender based on, among other things, the Lender’s estimated value of the proved reserves attributable to the Borrowers’ oil and natural gas properties that have been mortgaged to the Lender, and is subject to regular redeterminations on September 30 and March 31 of each year, and interim redeterminations described in the Credit Agreement and potentially monthly commitment reductions, in each case which may reduce the amount of the borrowing base. Effective September 12, 2013, the borrowing base was increased to $30.0 million from $20.0 million. As of December 31, 2013, the borrowing base and commitment were $30.0 million. As of December 31, 2013, the Company had $14.8 million outstanding under the Credit Facility and had availability of $12.6 million.
	Amounts outstanding under the Credit Facility bear interest at a rate per annum equal to the greater of (x) the U.S. prime rate as published in The Wall Street Journal’s “Money Rates” table in effect from time to time and (y) 4.0%. Interest is payable monthly in arrears on the last day of each calendar month. As of December 31, 2013, the interest rate was 4%. Borrowings under the Credit Facility are secured by first priority liens on substantially all the property of each of the Borrowers and are unconditionally guaranteed by Doral West Corp. and Pure Energy Operating, Inc., each a subsidiary of Cross Border.
	The Credit Agreement also contains financial covenants, measured as of the last day of each fiscal quarter of the Company. As of December 31, 2013, the Company was in compliance with these covenants.
	Pursuant to the Credit Agreement, at least one of the Borrowers is required to have acceptable hedge agreements in place at all times effectively hedging at least 50% of the oil volumes of the Borrowers. Pursuant to the terms of the Credit Agreement, the Company has hedge agreements with BP Energy hedging a portion of the future oil production of the Borrowers.
	Notes Payable
	Subordinated Note
	On February 6, 2013, the Company issued an Unsecured Subordinated Promissory Note (as amended, the “Subordinated Note”) in the aggregate principal amount of $500,000 payable to Hyman Belzberg, William Belzberg and Caddo Management, Inc. (the “Note Lender”). On July 30, 2013, the Company entered into Amendment No. 1 (the “Amendment”) to the Subordinated Note to extend the maturity date of the Subordinated Note from July 31, 2013 to August 31, 2013.  The Subordinated Note accrued interest at a rate of 12% per annum, payable monthly.  Upon an event of default, interest would accrue on all outstanding principal at a rate of the lesser of (i) 18% per annum or (ii) the maximum rate permitted by applicable law.
	On August 28, 2013, the Company repaid the Subordinated Note with a portion of the proceeds from its common stock offering.
	Convertible Promissory Notes
	On November 25, 2011, the Company issued a $1.0 million convertible promissory note to Hohenplan Privatstiftung (the “2011 Hohenplan Note”), a $1.5 million convertible promissory note to Personalversorge der Autogrill Schweiz AG (the “Personalversorge Note”) and a $250,000 convertible promissory note to SST Advisors, Inc. (the “SST Note” and collectively with the 2011 Hohenplan Note and the Personalversorge Note, the “Convertible Notes”). On July 30, 2012, the Company issued a $1.0 million convertible promissory note (the “2012 Hohenplan Note”) to Hohenplan Privatstiftung.
	In August 2013, the Company sold 100,002 Units in cancellation of the 2011 Hohenplan Note, the 2012 Hohenplan Note and the SST Note.  In November 2013, the Company paid in full the Personalversorge Note with cash. Prior to cancellation of these notes, the Company expensed the unamortized beneficial conversion feature, debt issuance costs and discounts totaling $0.3 million to interest expense.
	Mandatorily Redeemable Preferred Stock
	The Company’s Series A Preferred Stock is mandatorily redeemable and is not convertible into shares of the Company’s common stock.  The Company classifies the Series A Preferred Stock as a long-term liability, and the Company records dividends paid or accrued as interest expense in the Company’s Condensed Consolidated Statement of Operations.
	In August 2013, the Company closed offerings of 476,687 Units (the “Units”), including 100,002 Units sold in cancellation of $2.3 million in debt under convertible notes payable to Hohenplan Privatstiftung and SST Advisors, Inc., raising net proceeds of $7.1 million. Each Unit consisted of one share of Series A Preferred Stock and one warrant to purchase up to 2.5 shares of common stock at a price of $22.50 per Unit.  The warrants are exercisable until the earlier of (i) August 2016 or (ii) the first trading day that is at least 30 days after the date that the Company has provided notice to the holders of the warrants by filing a Current Report on Form 8-K stating that the common stock has (A) achieved a 20 trading day volume weighted average price of $15.00 per share or more and (B) traded, in the aggregate, 300,000 shares or more over the same 20 consecutive trading days for which the 20 trading day volume weighted average price was calculated; provided, that clause (ii) shall only be applicable so long as a warrant is exercisable for shares of common stock. The warrants have an exercise price of $10.00 per share. The warrants issued with the Series A Preferred Stock were valued at $2.4 million. The value of the warrants is treated as a discount to the Series A Preferred Stock and will be accreted over the life of the mandatorily redeemable preferred stock.  Management determined the fair value using a probability weighted Black-Scholes option model with a volatility based on the historical closing price of common stock of industry peers and the closing price of the Company’s common stock on the OTCBB on the date of issuance. The volatility and remaining term was approximately 55% and three years, respectively.
	The Series A Preferred Stock is mandatorily redeemable on July 15, 2018 at $25.00 per share, plus accrued and unpaid dividends to the redemption date, for a total redeemable value of $11.9 million. The difference between the $11.9 million redeemable value and the $10.8 million of gross proceeds and canceled debt is treated as a discount and will be accreted over the life of the Series A Preferred Stock.
	For the three and six months ended December 31, 2013, the Company recognized total interest expense of $0.3 million and $0.9 million, respectively, related to the Series A Preferred Stock, which includes accretion of discount and amortization of issuance costs of $0.2 million and $0.3 million for the three and six months ended December 31, 2013, respectively.
	Schedule of Future Debt Payments
	The following is a schedule by fiscal year of future principal payments required under the Company’s outstanding debt as of December 31, 2013:
	(in thousands)
	Fiscal Years Ending June 30,
	2016		14,800
	2017		—
	2018		—
	2019		11,917
	Total		26,717
	Discount		(3,286	)
	Total, net value	$	23,431

Earnings_Per_Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	8.  Earnings Per Share
	The Company reports basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share, which includes the effect of all potentially dilutive securities unless their impact is anti-dilutive. The following are reconciliations of the numerators and denominators of basic and diluted earnings per share:
		Three Months Ended,						Six Months Ended,
	(dollars in thousands, except per share amounts)		December 31,			November 30,			December 31,			November 30,
			2013			2012			2013			2012
	Net loss (numerator):
	Net loss – basic		$	(2,205	)	$	(3,238	)	$	(3,480	)	$	(6,947	)
	Weighted average shares (denominator):
	Weighted average shares – basic			13,372			9,053			13,147			8,904
	Dilution effect of share-based compensation, treasury method(1)			—			—			—			—
	Weighted average shares – diluted			13,372			9,053			13,147			8,904
	Loss per share:
	Basic		$	(0.16	)	$	(0.36	)	$	(0.26	)	$	(0.78	)
	Diluted		$	(0.16	)	$	(0.36	)	$	(0.26	)	$	(0.78	)
		-1	Warrants to purchase approximately 1,553,560 shares of the Company’s common stock were excluded from this calculation because they were anti-dilutive during the three and six months ended December 31, 2013. Warrants to purchase approximately 86,100 shares of the Company’s common stock were excluded from this calculation because they were anti-dilutive during the three and six months ended November 30, 2012.

Equity

Equity	6 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Equity	'
	9.  Equity
	During the three months ended December 31, 2013, the Company entered into a Debenture Purchase Agreement with a holder of Senior Series 2009A Debentures and Series 2009B Debentures (collectively, the “2009 Debentures”) of O&G Leasing, LLC for the purchase of an aggregate of $1.1 million principal amount of 2009 Debentures, plus accrued and unpaid interest, in exchange for the issuance of 0.9 million shares of common stock of the Company.
	In August 2013, the Company closed an offering of 642,857 shares of common stock, raising net cash proceeds of $3.6 million after issuance costs of $0.9 million.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	10.  Commitments and Contingencies
	Litigation
	Cross Border, Cross Border’s former Chief Executive Officer, and Cross Border’s former Chief Operating Officer are party to a lawsuit with a former employee. On May 4, 2011, Clifton M. (Marty) Bloodworth initially filed a lawsuit in the State District Court of Midland County, Texas, against Doral West Corp. d/b/a Doral Energy Corp. (the predecessor entity of Cross Border) (“Doral Energy”) and Everett Willard Gray II, Cross Border’s former Chief Executive Officer.  Mr. Bloodworth later amended his lawsuit to name Horace Patrick Seale, Cross Border’s former Chief Operating Officer, as an additional defendant. Mr. Bloodworth generally alleges that Mr. Gray and Mr. Seale, as agents of Cross Border, made false representations which induced Mr. Bloodworth to enter into an employment contract that was subsequently breached by Cross Border. The claims that Mr. Bloodworth has alleged are: breach of his employment agreement with Doral Energy, fraud in the inducement and common law fraud, civil conspiracy, breach of fiduciary duty, and violation of the Texas Deceptive Trade Practices Act. Mr. Bloodworth is seeking damages of approximately $280,000. Mr. Gray, Mr. Seale and Cross Border deny that Mr. Bloodworth’s claims have any merit.
	Cross Border was previously party to an engagement letter, dated February 7, 2012 (the “Engagement Letter”), with KeyBanc Capital Markets Inc. (“KeyBanc”) pursuant to which KeyBanc was to act as exclusive financial advisor to Cross Border’s Board of Directors in connection with a possible “Transaction” (as defined in the Engagement Letter). The Engagement Letter was formally terminated by Cross Border on August 21, 2012. The Engagement Letter provided that KeyBanc would be entitled to a fee upon consummation of a Transaction within a certain period of time following termination of the Engagement Letter. On May 16, 2013, KeyBanc delivered an invoice to Cross Border in the amount of $751,334, representing amounts purportedly owed by Cross Border to KeyBanc as a result of the consummation of a purported Transaction that KeyBanc asserts had been consummated within the required time period and its out-of-pocket expenses in connection therewith. Cross Border disputes that any Transaction was consummated and that KeyBanc is entitled to any out-of-pocket expenses. The matter was originally filed by Cross Border in the 44th-B Judicial District Court for the State of Texas, Dallas County but was subsequently removed to the United States District Court for the Northern District of Texas, Dallas Division, where KeyBanc filed a counterclaim against Cross Border. Cross Border intends to vigorously defend the action.
	In addition to the foregoing, in the ordinary course of business, the Company is periodically a party to various litigation matters that it does not believe will have a material adverse effect on its results of operations or financial condition.
	Environmental issues
	The Company is subject to federal and state laws and regulations relating to the protection of the environment. Environmental risk is inherent in all oil and natural gas operations, and the Company could be subject to environmental cleanup and enforcement actions. The Company manages this environmental risk through appropriate environmental policies and practices to minimize the impact to the Company.
	As of December 31, 2013 and May 31, 2013, the Company had approximately $2.1 million in environmental remediation liabilities related to Cross Border’s operated Tom Tom and Tomahawk fields located in Chaves and Roosevelt counties in New Mexico. In February 2013, the Bureau of Land Management (“BLM”) accepted Cross Border’s remediation plan for the Tom Tom and Tomahawk fields. Cross Border is working in conjunction with the BLM to initiate remediation on a site-by-site basis. This is management’s best estimate of the costs of remediation and restoration with respect to these environmental matters, although the ultimate cost could differ materially. Inherent uncertainties exist in these estimates due to unknown conditions, changing governmental regulation, and legal standards regarding liability, and emerging remediation technologies for handling site remediation and restoration. Cross Border expects to incur these expenditures over an eighteen month period beginning in January 2014.
	Leases
	As of December 31, 2013, the Company rented various office spaces in Dallas, Texas; Midland, Texas; and Lafayette, Louisiana and rented corporate housing in Richardson, Texas under non-cancelable lease agreements. In the aggregate, these leases cover approximately 16,884 square feet at a cost of approximately $24,000 per month and have remaining lease terms ranging from 4 months to 33 months. The following is a schedule by year of future minimum rental payments required under these lease arrangements as of December 31, 2013:
	(in thousands)
	Fiscal Years Ending June 30,
	2014	$	131
	2015		206
	2016		181
	2017		45
	2018		—
	Total	$	563
	Rent expense under the Company’s lease arrangements amounted to approximately $64,000 and $70,000 for the three months ended December 31, 2013 and November 30, 2012, respectively.  Rent expense under the Company’s lease arrangements amounted to approximately $133,000 and $149,000 for the six months ended December 31, 2013 and November 30, 2012, respectively.

Related_Party_Transactions

Related Party Transactions	6 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	11.  Related Party Transactions
	The Company entered into a drilling consulting agreement with R.K. Ford and Associates, and a contract for drilling services with Western Drilling on the Company’s Madera 24-2H, Madera 25-2H, and Madera 19-4H wells. At the time, each of these entities were owned or partially owned by Randell K. Ford, a then-current director of the Company. Mr. Ford passed away in December 2013. During the three months ended December 31, 2013 and November 30, 2012, these entities provided the Company with an aggregate of approximately $1.7 million and $15,000, respectively, of services, of which $0.7 million and $0, respectively, remained unpaid at the end of the respective periods.  During the six months ended December 31, 2013 and November 20, 2012, these entities provided the Company with an aggregate of approximately $1.9 million and $15,000, respectively, of services, of which $0.7 million and $0, respectively, remained unpaid at the end of the respective periods.
	In addition, the Company is a party to a lease agreement with R.K. Ford and Associates, pursuant to which the Company leases office space in Midland, Texas. During the three months ended December 31, 2013 and November 30, 2012, the Company paid approximately $0 and $6,000, respectively, to R.K. Ford and Associates pursuant to the lease agreement.  During the six months ended December 31, 2013 and November 30, 2012, the Company paid approximately $2,000 and $13,000, respectively, to R.K. Ford and Associates pursuant to the lease agreement.  The lease agreement expired in July 2013.

Subsequent_Events

Subsequent Events	6 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	12.  Subsequent Events
	Reverse Stock Split and Authorized Share Reduction
	On January 31, 2014, Red Mountain Resources, Inc., a Florida corporation (“RMR FL”), effected a reverse stock split of RMR FL’s common stock, par value $0.00001 per share (“RMR FL Common Stock”), at an exchange ratio of 1-for-10 (the “Reverse Stock Split”), together with a proportional reduction in the number of authorized shares of RMR FL Common Stock from 500.0 million shares to 50.0 million shares. The par value of RMR FL Common Stock did not change as a result of the Reverse Stock Split.  As of January 31, 2014, every ten shares of RMR FL Common Stock were combined into one share of RMR FL Common Stock, reducing the number of outstanding shares of RMR FL Common Stock from approximately 134.0 million to approximately 13.4 million.  In addition, a proportionate adjustment was made to the per share exercise price and the number of shares issuable upon the exercise of all outstanding warrants to purchase shares of RMR FL Common Stock.
	Change of State of Incorporation
	On January 31, 2014, RMR FL changed its state of incorporation from the State of Florida to the State of Texas by merging (the “Reincorporation”) with and into its wholly-owned subsidiary, Red Mountain Resources, Inc., a Texas corporation, with Red Mountain Resources, Inc., a Texas corporation, continuing as the surviving corporation. As a result, as of January 31, 2014:
	(i)           RMR FL ceased to exist;
	(ii)         shareholders of RMR FL automatically became shareholders of Red Mountain, without any action by such shareholders, and began to be governed by (a) the Texas Business Organizations Code, (b) Red Mountain’s Certificate of Formation, and (c) Red Mountain’s Bylaws;
	(iii)        the name, business, management, fiscal year, accounting, location of the principal executive offices, assets and liabilities of RMR FL became the name, business, management, fiscal year, accounting, location of the principal executive offices, assets and liabilities of Red Mountain; and
	(iv)        the directors and officers of RMR FL prior to the Reincorporation continued as the directors and officers of Red Mountain after the Reincorporation for an identical term of office.
	The Company’s common stock, on a split-adjusted basis, has a new CUSIP number of 75678V 302.
	Increase in Borrowings Under Credit Facility
	On, January 21, 2014, the Company withdrew $5.0 million under its Credit Facility with Independent Bank.  As of January 21, 2014, the Company had $19.8 million outstanding under the Credit Facility and had availability of $7.6 million.

Summary_of_Significant_Account

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Consolidation, basis of presentation and significant estimates	'
	Basis of Presentation
	The condensed consolidated financial statements include the accounts of Red Mountain Resources, Inc. and its subsidiaries. The condensed consolidated financial statements and related footnotes are presented in accordance with generally accepted accounting principles in the United States (“GAAP”).
	The Company has prepared the accompanying unaudited interim financial statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”), and in the opinion of management, such financial statements reflect all adjustments necessary to present fairly the consolidated financial position of the Company at December 31, 2013 and its results of operations and cash flows for the periods presented. The Company has omitted certain information and disclosures normally included in annual financial statements prepared in accordance with GAAP pursuant to those rules and regulations, although the Company believes that the disclosures it has made are adequate to make the information presented not misleading. These unaudited interim financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related footnotes included in its most recent Annual Report on Form 10-K.
	In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the financial statements and disclosures. The results of operations for the interim periods are not necessarily indicative of the results the Company expects for the full fiscal year. The Company has not made any changes in its significant accounting policies from those disclosed in its most recent Annual Report on Form 10-K.
	The Company effected a reverse stock split of its outstanding common stock at a ratio of one-for-ten (1:10) on January 31, 2014. Retroactive application of the reverse stock split is required and all share and per share information included for all periods presented in these financial statements reflect the reverse stock split.
	On July 17, 2013, the Company’s board of directors approved a change in the Company’s fiscal year end from May 31 to June 30, effective as of June 30, 2013.  The change in the Company’s fiscal year end resulted in a one-month transition period that began on June 1, 2013 and ended on June 30, 2013.
	As a result of this change, in the Condensed Consolidated Statements of Operations, the Company compares the three-month period ended December 31, 2013 with the previously reported three-month period ended November 30, 2012 and the six-month period ended December 31, 2013 with the previously reported six-month period ended November 30, 2012. Financial information for the three and six months ended December 31, 2012 has not been included in this Quarterly Report on Form 10-Q for the following reasons: (i) the three and six months ended November 30, 2012 provide a meaningful comparison for the three and six months ended December 31, 2013; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for the three and six months ended December 31, 2012 were presented in lieu of results for the three and six months ended November 30, 2012; and (iii) it was not practicable or cost justified to prepare this information.
Business Combinations	'
	Business Combinations
	The Company accounts for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) Topic 805, Business Combinations (“ASC 805”). The acquisition method requires that assets acquired and liabilities assumed including contingencies be recorded at their fair values as of the acquisition date. The Company has finalized the determination of the fair values of the assets acquired and liabilities assumed for Cross Border Resources, Inc. (“Cross Border”).
Noncontrolling Interests	'
	Noncontrolling Interests
	Subsequent to January 28, 2013, the Company accounts for the noncontrolling interest in Cross Border in accordance with ASC Topic 810, Consolidation (“ASC 810”). ASC 810 establishes accounting and reporting standards for ownership interests in subsidiaries held by parties other than the parent, the amount of consolidated net income attributable to the parent and to the noncontrolling interest, changes in a parent’s ownership interest and the valuation of retained noncontrolling equity investments when a subsidiary is deconsolidated. ASC 810 also establishes reporting requirements that provide sufficient disclosures that clearly identify and distinguish between the interest of the parent and the interests of the noncontrolling owner. In addition, this guidance provides for increases and decreases in the Company’s controlling financial interests in consolidated subsidiaries to be reported in equity similar to treasury stock transactions.
Investments	'
	Investments
	Prior to January 28, 2013, the Company’s investment in Cross Border was accounted for under the equity method of accounting based on the Company’s significant influence. The determination of whether the Company exercises significant influence with respect to an investee depends on an evaluation of several factors, including, among others, ownership level. Under the equity method of accounting, an investee company’s accounts are not reflected within the Company’s Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Condensed Consolidated Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s Condensed Consolidated Balance Sheets. The Company evaluates these investments for other-than-temporary declines in value each quarterly period. Any impairment found to be other than temporary would be recorded through a charge to earnings.
Investments In Non-performing Debentures	'
	Investments in Non-Performing Debentures
	The Company’s investments in non-performing debentures were initially recorded at cost which the Company believes was fair value. Management estimated cash flows expected to be collected considering the contractual terms of the loans, the nature and estimated fair value of collateral, and other factors it deemed appropriate. The estimated fair value of the loans at acquisition was significantly less than the contractual amounts due under the terms of the loan agreements.
	Since, at the acquisition date, the Company expected to collect less than the contractual amounts due under the terms of the loans based, at least in part, on the assessment of the credit quality of the borrower, the loans are accounted for in accordance with ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”). The difference between the contractually required payments on the loans as of the acquisition date and the total cash flows expected to be collected, or non-accretable difference, is not recognized and totaled $2.5 million and $1.5 million, plus accrued interest in arrears, as of December 31, 2013 and November 30, 2012, respectively.
	Debentures are classified as non-accrual when management is unable to reasonably estimate the timing or amount of cash flows expected to be collected from the debentures or has serious doubts about further collectability of principal or interest.  As of December 31, 2013 and May 31, 2013, all of the Company’s debentures were on non-accrual status since the borrower remains under the supervision of the bankruptcy court.
	The Company periodically re-evaluates cash flows expected to be collected for each debenture based upon all available information as of the measurement date. Subsequent increases in cash flows expected to be collected are recognized prospectively through an adjustment to the debenture’s yield over its remaining life, which may result in a reclassification from non-accretable difference to accretable yield. Subsequent decreases in cash flows expected to be collected are evaluated to determine whether a provision for loan loss should be established. If decreases in expected cash flows result in a decrease in the estimated fair value of the debenture below its amortized cost, the debenture is deemed to be impaired, and the Company will record a provision for impairment to write the debenture down to its estimated fair value. The Company did not record any impairment on the debentures during the six months ended December 31, 2013 and November 30, 2012.
	The Company’s investments in non-performing debentures are classified as held to maturity because the Company has the intent and ability to hold them until maturity.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, an amendment to FASB Accounting Standards Codification Topic 740, Income Taxes (“ASU 2013-11”). ASU 2013-11 clarifies 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 if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where 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 or the tax law of the jurisdiction does not require, 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. ASU 2013-11 is effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is permitted. The Company is currently evaluating the impact of ASU 2013-11 on its consolidated financial statements and financial statement disclosures.

Oil_and_Natural_Gas_Properties1

Oil and Natural Gas Properties and Other Property and Equipment (Tables)	6 Months Ended
	Dec. 31, 2013
Oil and Gas Exploration and Production Industries Disclosures [Abstract]	'
Schedule of Capitalized Costs Relating to Oil and Gas Producing Activities	'
	The following table sets forth the capitalized costs under the successful efforts method for oil and natural gas properties:
	(in thousands)	December 31,			May 31,
		2013			2013
	Oil and natural gas properties:
	Proved	$	71,498		$	63,891
	Unproved		19,796			19,539
	Total oil and natural gas properties		91,294			83,430
	Less accumulated depletion and impairment		(13,959	)		(9,140	)
	Net oil and natural gas properties capitalized costs	$	77,335		$	74,290
Schedule of Property, Plant and Equipment	'
	The historical cost of other property and equipment, presented on a gross basis with accumulated depreciation and amortization is summarized as follows:
	(in thousands)	December 31,			May 31,
		2013			2013
	Other property and equipment	$	1,191		$	1,026
	Less accumulated depreciation and amortization		(271	)		(184	)
	Net property and equipment	$	920		$	842

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	6 Months Ended
	Dec. 31, 2013
Asset Retirement Obligation Disclosure [Abstract]	'
Schedule Of Changes in Asset Retirement Obligation	'
	The following table summarizes the changes in the Company’s asset retirement obligations (“AROs”) for the six months ended December 31, 2013 and the fiscal year ended May 31, 2013:
	(in thousands)	December 31,		May 31,
		2013		2013
	Asset retirement obligations at beginning of period	$	5,019	$	836
	Liabilities incurred		49		22
	Liabilities settled		—		(53	)
	Acquisitions		—		3,728
	Accretion expense		135		150
	Revisions in estimated liabilities		8		296
	Asset retirement obligations at end of period		5,211		4,979
	Less: current portion		242		228
	Long-term portion	$	4,969	$	4,751

Derivatives_Tables

Derivatives (Tables)	6 Months Ended
	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of commodity derivative positions	'
	At December 31, 2013, the Company had the following commodity derivatives positions outstanding:
	Commodity and Time Period		Contract		Volume Transacted	Contract Price
			Type
	Crude Oil
	January 1, 2014―August 31, 2014	Collar - Minimum	Option		437-1,936 Bbls/month	$80.00/Bbl
	January 1, 2014―August 31, 2014	Collar - Maximum	Option		437-1,936 Bbls/month	$100.50/Bbl
	January 1, 2014―November 30, 2014		Swap		2,000 Bbls/month	$93.50/Bbl
	January 1, 2014―February 28, 2014		Swap		1,000 Bbls/month	$106.50/Bbl
	January 1, 2014―March 31, 2014		Put		2,000 Bbls/month	$95.00/Bbl
Schedule of fair value of open commodity derivatives	'
	The following table summarizes the fair value of the Company’s open commodity derivatives as of December 31, 2013 and May 31, 2013:
		Balance Sheet Location	Fair Value
			December 31,			May 31,
	(in thousands)		2013			2013
	Derivatives not designated as hedging instruments
	Commodity derivatives	Commodities derivative asset	$	—		$	265
	Commodity derivatives	Commodities derivative liability	$	54		$	34
Schedule of change in fair value of commodity derivatives	'
	The following tables summarize the change in the fair value of the Company’s commodity derivatives:
		Income Statement Location	Three Months Ended,
			December 31,			November 30,
	(in thousands)		2013			2012
	Derivatives not designated as hedging instruments
	Commodity derivatives	Realized gain on commodity derivatives	$	37		$	—
		Unrealized gain on commodity derivatives		64			—
			$	101		$	—
		Income Statement Location	Six Months Ended,
			December 31,			November 30,
	(in thousands)		2013			2012
	Derivatives not designated as hedging instruments
	Commodity derivatives	Realized loss on commodity derivatives	$	(51	)	$	—
		Unrealized gain on commodity derivatives		(231	)		—
			$	(282	)	$	—

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	6 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Summary of the valuation of the Company's financial assets and liabilities	'
	The following table summarizes the valuation of the Company’s financial assets and liabilities at December 31, 2013 and May 31, 2013:
		Fair Value Measurements at Reporting Date Using
	(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant or Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at December 31, 2013
	Assets:
	Commodity derivatives	$	—	$	—		$	—		$	—
	2009A and 2009B Debentures of O&G Leasing, LLC (nonrecurring)		—		—			4,820			4,820
	Total	$	—	$	—		$	4,820		$	4,820
	Liabilities:
	Asset retirement obligations (non-recurring)	$	—	$	—		$	(5,211	)	$	(5,211	)
	Commodity derivative		—		(54	)		—			(54	)
	Environmental remediation liability		—		—			(2,088	)		(2,088	)
	Total	$	—	$	(54	)	$	(7,299	)	$	(7,353	)
		Fair Value Measurements at Reporting Date Using
	(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)		Significant or Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at May 31, 2013
	Assets:
	Commodity derivatives	$	—	$	265		$	—		$	265
	Oil and gas properties impairment (nonrecurring)		—		—			(411	)		(411	)
	2009A and 2009B Debentures of O&G Leasing, LLC (nonrecurring)		—		—			4,279			4,279
	Total	$	—	$	265		$	3,868		$	4,133
	Liabilities:
	Asset retirement obligations (non-recurring)	$	—	$	—		$	(4,979	)	$	(4,979	)
	Commodity derivative		—		(34	)		—			(34	)
	Environmental remediation liability		—		—			(2,088	)		(2,088	)
	Total	$	—	$	(34	)	$	(7,067	)	$	(7,101	)

Debt_Tables

Debt (Tables)	6 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Schedule of debt	'
	As of the dates indicated, the Company’s debt consisted of the following:
	(in thousands)	December 31,			May 31,
		2013			2013
	Credit Agreement	$	14,800		$	19,800
	Subordinated Note		—			500
	Convertible notes payable, net of discount of $0 and $442, respectively		—			3,308
	Mandatorily redeemable preferred, net of discount of $3,300 and $0, respectively		8,631			—
	Total debt		23,431			23,608
	Less: short-term portion		—			3,808
	Long-term debt	$	23,431		$	19,800
Schedule by fiscal year of future principal payments of debt	'
	The following is a schedule by fiscal year of future principal payments required under the Company’s outstanding debt as of December 31, 2013:
	(in thousands)
	Fiscal Years Ending June 30,
	2016		14,800
	2017		—
	2018		—
	2019		11,917
	Total		26,717
	Discount		(3,286	)
	Total, net value	$	23,431

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2013
Earnings Per Share [Abstract]	'
Schedule of reconciliations of the numerators and denominators of basic and diluted earnings per share	'
	The following are reconciliations of the numerators and denominators of basic and diluted earnings per share:
		Three Months Ended,						Six Months Ended,
	(dollars in thousands, except per share amounts)		December 31,			November 30,			December 31,			November 30,
			2013			2012			2013			2012
	Net loss (numerator):
	Net loss – basic		$	(2,205	)	$	(3,238	)	$	(3,480	)	$	(6,947	)
	Weighted average shares (denominator):
	Weighted average shares – basic			13,372			9,053			13,147			8,904
	Dilution effect of share-based compensation, treasury method(1)			—			—			—			—
	Weighted average shares – diluted			13,372			9,053			13,147			8,904
	Loss per share:
	Basic		$	(0.16	)	$	(0.36	)	$	(0.26	)	$	(0.78	)
	Diluted		$	(0.16	)	$	(0.36	)	$	(0.26	)	$	(0.78	)
		-1	Warrants to purchase approximately 1,553,560 shares of the Company’s common stock were excluded from this calculation because they were anti-dilutive during the three and six months ended December 31, 2013. Warrants to purchase approximately 86,100 shares of the Company’s common stock were excluded from this calculation because they were anti-dilutive during the three and six months ended November 30, 2012.

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Schedule of future minimum rental payments	'
	The following is a schedule by year of future minimum rental payments required under these lease arrangements as of December 31, 2013:
	(in thousands)
	Fiscal Years Ending June 30,
	2014	$	131
	2015		206
	2016		181
	2017		45
	2018		—
	Total	$	563

Significant_Accounting_Policie1

Significant Accounting Policies (Details Narrative) (USD $)	Dec. 31, 2013	Nov. 30, 2012
In Thousands, unless otherwise specified
Accounting Policies [Abstract]	'	'
Non-accretable difference of debentures	$2,500	$1,500

Oil_and_Natural_Gas_Properties2

Oil and Natural Gas Properties and Other Property and Equipment (Details Narrative) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2012	Nov. 30, 2012	Dec. 31, 2013	31-May-13
Oil and Gas Exploration and Production Industries Disclosures [Abstract]	'	'	'	'
Acquisition costs of proved properties	'	'	$36,900	$39,200
Exploratory well costs and additional development costs	'	'	25,500	26,800
Impairment of Oil and Gas Properties	$400	$400	'	'

Oil_and_Natural_Gas_Properties3

Oil and Natural Gas Properties and Other Property and Equipment (Details) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Oil and natural gas properties:	'	'
Proved	$71,498	$63,891
Unproved	19,796	19,539
Total oil and natural gas properties	91,294	83,430
Less accumulated depletion and impairment	-13,959	-9,140
Net oil and natural gas properties capitalized costs	$77,335	$74,290

Oil_and_Natural_Gas_Properties4

Oil and Natural Gas Properties and Other Property and Equipment (Details 1) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Oil and Gas Exploration and Production Industries Disclosures [Abstract]	'	'
Other property and equipment	$1,191	$1,026
Less accumulated depreciation and amortization	-271	-184
Net property and equipment	$920	$842

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	6 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Nov. 30, 2012	31-May-13
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]	'	'	'
Asset retirement obligations at beginning of period	$5,019	$836	$836
Liabilities incurred	49	'	22
Liabilities settled	'	-54	-53
Acquisitions	'	'	3,728
Accretion expense	135	30	150
Revisions in estimated liabilities	8	'	296
Asset retirement obligations at end of period	5,211	'	4,979
Less: current portion	242	'	228
Long-term portion	$4,969	'	$4,751

Derivatives_Details

Derivatives (Details)	6 Months Ended
	Dec. 31, 2013
Crude Oil Contract 1	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Type	'
	Option
Volume transacted	'
	437-1,936 Bbls/month
Contract Price	80
Volume transacted - lower	437
Volume transacted - higher	1,936
Crude Oil Contract 2	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Type	'
	Option
Volume transacted	'
	437-1,936 Bbls/month
Contract Price	100.5
Volume transacted - lower	437
Volume transacted - higher	1,936
Crude Oil Contract 3	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Type	'
	Swap
Volume transacted	'
	2,000 Bbls/month
Contract Price	93.5
Volume transacted - lower	2,000
Crude Oil Contract 4	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Type	'
	Swap
Volume transacted	'
	1,000 Bbls/month
Contract Price	106.5
Volume transacted - lower	1,000
Crude Oil Contract 5	'
Derivative Instruments, Gain (Loss) [Line Items]	'
Type	'
	Put
Volume transacted	'
	2,000 Bbls/month
Contract Price	95
Volume transacted - lower	2,000

Derivatives_Details_1

Derivatives (Details 1) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'	'
Commodity derivative asset - fair value	'	$265
Commodity derivative liability - fair value	$54	$34

Derivatives_Details_2

Derivatives (Details 2) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'	'
Realized loss on commodity derivatives	$37	($51)
Unrealized loss on commodity derivatives	64	-231
Change in fair value of derivative liability	$101	'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Dec. 31, 2013	Jun. 30, 2013	31-May-13	31-May-12
In Thousands, unless otherwise specified
Assets	'	'	'	'
Commodities derivatives	'	'	$190	'
Total	91,905	'	89,230	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	5,211	5,019	4,979	836
Derivative liability	54	'	34	'
Environmental remediation liability	688	'	688	'
Total	42,314	'	42,273	'
Fair Value	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	'	'	265	'
Oil and gas properties impairment (nonrecurring)	'	'	-411	'
2009A and 2209B Debentures of O&G Leasing, LLC (nonrecurring)	4,820	'	4,279	'
Total	4,820	'	4,133	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	-5,211	'	-4,979	'
Derivative liability	-54	'	-34	'
Environmental remediation liability	-2,088	'	-2,088	'
Total	-7,353	'	-7,101	'
Fair Value, Inputs, Level 2	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	'	'	265	'
Oil and gas properties impairment (nonrecurring)	'	'	'	'
2009A and 2209B Debentures of O&G Leasing, LLC (nonrecurring)	'	'	'	'
Total	'	'	265	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	'	'	'	'
Derivative liability	-54	'	-34	'
Environmental remediation liability	'	'	'	'
Total	-54	'	-34	'
Fair Value, Inputs, Level 3	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	'	'	'	'
Oil and gas properties impairment (nonrecurring)	'	'	-411	'
2009A and 2209B Debentures of O&G Leasing, LLC (nonrecurring)	4,820	'	4,279	'
Total	4,820	'	3,868	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	-5,211	'	-4,979	'
Derivative liability	'	'	'	'
Environmental remediation liability	-2,088	'	-2,088	'
Total	($7,299)	'	($7,067)	'

Debt_Details_Narrative

Debt (Details Narrative) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2012
Lines of Credit (Credit facility and secured line)	'	'
Maximum borrowing capacity under line of credit	$100,000	'
Available for issuance of letters of credit	2,000	'
Current borrowing base of line of credit	30,000	20,000
Interest rate description of line of credit	'Amounts outstanding under the Credit Facility will bear interest at a rate per annum equal to the greater of (x) the U.S. prime rate as published in The Wall Street Journal's "Money Rates" table in effect from time to time and (y) 4.0%.	'
Spread on bank's reference rate	4.00%	'
Interest rate of line of credit	4.00%	'
Line of credit fee description	'Under the Credit Agreement, the Borrowers are required to pay fees consisting of (i) an unused facility fee equal to 0.5% multiplied by the average daily unused commitment amount, payable quarterly in arrears until the commitment is terminated; (ii) a fronting fee payable on the date of issuance of each letter of credit and annually thereafter or on the date of any increase or extension thereof, equal to the greater of (a) 2.0% per annum multiplied by the face amount of such letter of credit or (b) $1,000; and (iii) an origination fee (x) of $200,000, and (y) payable on any date the commitment is increased, an additional facility fee equal to 1.0% multiplied by any increase of the commitment above the highest previously determined or redetermined commitment.	'
Unused Facility fee	0.50%	'
Percentage fee multiplied against face amount associated with an increase on the letter of credit	2.00%	'
Fee associated with an increase in letter of credit	1	'
Origination fee	200	'
Additional facility fee	1.00%	'
Required ratio of current assets to current liabilities under line of credit agreement	100.00%	'
Required ratio of funded debt to EBITDAX under line of credit agreement	350.00%	'
Required ratio of EBITDAX to interest expenses under line of credit agreement	300.00%	'
Line of credit default amount trigger to cause immediate payment	200	'
Collateral security interest trigger to cause immediate payment	500	'
Percentage of oil volume required to be effectively hedged	50.00%	'
Line of credit outstanding amount borrowed	14,800	'
Line of credit, remaining capacity	$12,600	'

Debt_Details_Narrative_1

Debt (Details Narrative 1) (USD $)

0 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

0 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

Aug. 31, 2013

Nov. 25, 2011

Dec. 31, 2013

Nov. 30, 2012

Dec. 31, 2013

Nov. 30, 2012

31-May-13

Nov. 25, 2011

Nov. 25, 2011

Nov. 25, 2011

Dec. 31, 2013

Feb. 05, 2013

Jul. 30, 2012

Jun. 30, 2013

Dec. 31, 2013

Sep. 30, 2013

Dec. 31, 2013

Note - SST

Note - Personalversorge

Note - Hohenplan 2011

Note - Hohenplan 2011

Notes - Hohenplan 2012

Notes - Hohenplan 2012

Notes - Hohenplan 2012

Notes - Hohenplan 2012

Notes - Hohenplan 2012

Notes - Hohenplan 2012

Notes Payable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt face amount

'

'

'

'

'

'

'

$250,000

$1,500,000

$1,000,000

'

'

$1,000,000

'

'

'

'

Interest rate

'

'

'

'

'

'

'

10.00%

10.00%

10.00%

'

'

10.00%

'

'

'

'

Maturity date

'

'

'

'

'

'

'

25-Nov-13

25-Nov-13

25-Nov-13

'

'

'

'

'

'

'

Conversion price of convertible debt

'

'

'

'

'

'

'

$10

$10

$10

'

'

$8.50

'

'

'

'

Beneficial conversion feature

'

1,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortized debt discount

'

'

69,000

200,000

300,000

400,000

'

'

'

'

'

'

'

25,000

'

120,000

'

Shares issued in period

642,857

'

'

'

'

'

'

'

'

'

'

705,882

'

'

'

'

'

Price per share sold

'

'

'

'

'

'

'

'

'

'

'

$8.50

'

'

'

'

'

Conversion price of convertible debt, prior to adjustment

'

'

'

'

'

'

'

'

'

'

'

$15

'

'

'

'

'

Unrealized gain on conversion of note

'

'

'

'

'

'

'

'

'

'

'

'

'

29,000

'

0

'

Issuance of shares for debt issuance costs

'

'

'

'

'

'

161,000

'

'

'

'

'

161,000

'

'

'

'

Issuance of shares for debt issuance costs, shares

'

'

'

'

'

'

'

'

'

'

'

'

12,500

'

'

'

'

Debt issuance costs

'

'

'

'

'

'

'

'

'

'

'

'

200,000

'

'

'

'

Number of shares if warrants converted

'

'

'

'

'

'

'

'

'

'

'

'

8,333

'

'

'

'

Exercise price of warrants issued

10

'

'

'

'

'

'

'

'

'

'

'

15

'

'

'

'

Value of warrants issued

'

'

'

'

'

'

'

'

'

'

'

'

49,000

'

'

'

'

Amortization of debt issuance costs

'

'

'

'

894,000

895,000

'

'

'

'

'

'

'

'

0

'

0

Interest expense

'

'

'

'

'

'

'

'

'

'

$299

'

'

'

'

'

'

Debt_Details_Narrative_2

Debt (Details Narrative 2) (USD $)	0 Months Ended	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2013	Dec. 31, 2013	Nov. 30, 2012	Dec. 31, 2013	Nov. 30, 2012
	Units
Debt Instrument [Line Items]	'	'	'	'	'
Units sold in period	476,687	'	'	'	'
Units sold in cancellation of convertible debt	100,002	'	'	'	'
Amount of debt canceled	$2,300	'	'	'	'
Proceeds from units sold, net	7,100	'	'	'	'
Number of shares, per unit	1	'	'	'	'
Number of warrants, per unit	1	'	'	'	'
Number of shares, per warrant	2.5	'	'	'	'
Exercise price, warrants	10	'	'	'	'
Exercise price, units	22.5	'	'	'	'
Trading day volume	'20 days	'	'	'	'
Weighted average stock price per share	$15	'	'	'	'
Aggregate number of shares traded	3,000,000	'	'	'	'
Warrant value	2,400	'	'	'	'
Volatility used for fair vaue	55.00%	'	'	'	'
Term used for fair vaue	'3 years	'	'	'	'
Accretion of discount and amortization of issuance costs	'	68	15	135	30
Series A Preferred Stock	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'
Series A preferred stock, redemption price per share	'	$25	'	$25	'
Series A preferred stock, redemption value	'	11,900	'	11,900	'
Preferred stock gross proceeds and canceled debt amount	'	10,800	'	10,800	'
Interest expense, preferred stock	'	300	'	900	'
Accretion of discount and amortization of issuance costs	'	$200	'	$300	'

Debt_Details

Debt (Details) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]	'	'
Credit Facility	$14,800	$19,800
Subordinated Note	'	500
Convertible notes payable, net of discount of $0 and $442, respectively	'	3,308
Mandatorily redeemable preferred, net of discount of $3,300 and $0, respectively	8,631	'
Total debt	23,431	23,608
Less: current portion	'	3,808
Long-term portion	$23,431	$19,800

Debt_Details_1

Debt (Details 1) (USD $)	Dec. 31, 2013	31-May-13
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]	'	'
2016	$14,800	'
2017	'	'
2018	'	'
2019	11,917	'
Total	26,717	'
Discount	-3,286	'
Total debt	$23,431	$23,608

Earnings_Per_Share_Details_Nar

Earnings Per Share (Details Narrative)	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended
	Nov. 30, 2012	Nov. 30, 2012	Aug. 31, 2013	Dec. 31, 2013
			Convertible promissory note and Warrants	Convertible promissory note and Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	86,100	86,100	1,553,560	1,553,560

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2013	Dec. 31, 2013	Nov. 30, 2012	Dec. 31, 2013	Nov. 30, 2012	31-May-13
Net loss (numerator):	'	'	'	'	'	'
Net loss - basic	($671)	($2,108)	($3,238)	($3,237)	($6,947)	($11,520)
Weighted average shares (denominator):	'	'	'	'	'	'
Weighted average shares - basic	'	13,372,000	9,053,000	13,147,000	8,904,000	'
Weighted average shares - diluted	'	13,372,000	9,053,000	13,147,000	8,904,000	'
Loss per share:	'	'	'	'	'	'
Basic (in dollars per share)	'	($0.16)	($0.36)	($0.26)	($0.78)	'
Diluted (in dollars per share)	'	($0.16)	($0.36)	($0.26)	($0.78)	'

Equity_Details_Narrative

Equity (Details Narrative) (USD $)	0 Months Ended	6 Months Ended	12 Months Ended	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2013	Dec. 31, 2013	31-May-13	Dec. 31, 2013
				2009A Debentures & 2009B Debentures
Principal amount	'	'	'	$1,100
Number of shares issued in exchange (in shares)	'	'	'	900
Shares issued in period (in shares)	642,857	'	'	'
Net proceeds of share issuance	3,600	3,605	7,190	'
Common stock issuance costs	$900	$895	$1,351	'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details Narrative) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Nov. 30, 2012	Dec. 31, 2013	Nov. 30, 2012
			sqft
Commitments and Contingencies Disclosure [Abstract]	'	'	'	'
Lawsuit, damages sought	'	'	$280	'
KeyBank Invoice value sought as damages	'	'	751,334	'
Environmental remediation liabilities related to Cross Border	2,100	'	2,100	'
Number of square feet covered in rentals	'	'	16,884	'
Monthly rental payment	'	'	24	'
Rent expense	$64	$70	$133	$149

Commitments_and_Contingencies_2

Commitments and Contingencies (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Fiscal Years Ending June 30,	'
2014	$131
2015	206
2016	181
2017	45
Total	$563

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (R.K. Ford and Associates, Inc., USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Nov. 30, 2012	Dec. 31, 2013	Nov. 30, 2012
R.K. Ford and Associates, Inc.	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
Engineering, drilling and completion services	$1,700	$15	$1,900	$15
Engineering, drilling and completion services - unpaid	700	0	700	0
Lease payments	$0	$6	$2	$13

Subsequent_Events_Details_Narr

Subsequent Events (Details Narrative) (USD $)	Dec. 31, 2013	31-May-13	Jan. 31, 2014	Jan. 21, 2014
In Thousands, except Share data, unless otherwise specified			Subsequent event	Subsequent event
				Independent Bank
Subsequent Event [Line Items]	'	'	'	'
Common stock par value (in dollars per share)	$0.00	$0.00	$0.00	'
Description of reverse stock split conversion ratio	'	'	'Every ten shares of RMR FL Common Stock were combined into one share of RMR FL Common Stock	'
Common stock authorized shares before reverse stock split	'	'	500,000	'
Common stock authorized shares after reverse stock split	50,000	50,000	50,000	'
Common stock outstanding shares before reverse stock split	'	'	134,000	'
Common stock outstanding shares befeore reverse stock split	13,401	12,596	13,400	'
Line of credit facility, maximum borrowing capacity	$100,000	'	'	$5,000
Line of credit facility, amount outstanding	14,800	'	'	19,800
Line of credit facility, remaining borrowing capacity	$12,600	'	'	$7,600