Red Mountain Resources (RDMP) Inactive 10-K30 Sep 142014 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Jun. 30, 2014	Sep. 22, 2014	Dec. 31, 2013
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	'	14,857,488	'
Entity Public Float	'	'	$57,900,000
Closing market price	'	'	$5.40
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Jun-14	'	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2014	'	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Current Assets:	'	'	'
Cash and cash equivalents	$1,682,000	$456,000	$1,112,000
Accounts receivable - oil and natural gas sales	3,186,000	4,673,000	3,522,000
Accounts receivable - joint interest	1,645,000	1,666,000	2,604,000
Debt issuance costs - current	'	230,000	230,000
Prepaid expenses and other current assets	527,000	400,000	420,000
Commodities derivative asset - current	37,000	86,000	190,000
Deferred tax asset - current	368,000	299,000	299,000
Total current assets	7,445,000	7,810,000	8,377,000
Long-Term Investments:	'	'	'
Debentures - held to maturity	4,820,000	4,279,000	4,279,000
Oil and Natural Gas Properties, Successful Efforts Method:	'	'	'
Proved properties	82,362,000	64,539,000	63,891,000
Unproved properties	19,109,000	19,622,000	19,539,000
Other property and equipment	1,196,000	1,061,000	1,026,000
Less accumulated depreciation, depletion, amortization and impairment	-19,497,000	-9,987,000	-9,324,000
Oil and natural gas properties, net	83,170,000	75,235,000	75,132,000
Other Assets:	'	'	'
Commodities derivative asset, net of current portion	'	46,000	75,000
Restricted cash, long-term	493,000	452,000	452,000
Debt issuance costs, net of current portion	1,101,000	409,000	450,000
Security deposit and other assets	197,000	791,000	465,000
Total Assets	97,226,000	89,022,000	89,230,000
Current Liabilities:	'	'	'
Accounts payable	3,536,000	9,318,000	9,354,000
Revenues payable	1,673,000	1,137,000	774,000
Accrued expenses	2,035,000	1,175,000	1,137,000
Commodities derivative liability	121,000	'	34,000
Convertible notes payable, net of discount of $0, $442 and $352, respectively	'	3,398,000	3,308,000
Dividend payable	179,000	'	'
Notes payable - current	'	500,000	500,000
Asset retirement obligation - current	214,000	228,000	228,000
Environmental remediation liability- current	2,067,000	1,400,000	1,400,000
Total current liabilities	9,825,000	17,156,000	16,735,000
Long-Term Liabilities:	'	'	'
Mandatorily redeemable preferred stock, net of discount of $1,561	4,801,000	'	'
Line of credit, net of current portion	26,800,000	19,800,000	19,800,000
Environmental remediation liability, net of current portion	'	688,000	688,000
Deferred tax liability - long-term	409,000	299,000	299,000
Asset retirement obligation, net of current portion	5,531,000	4,792,000	4,751,000
Total long-term liabilities	37,541,000	25,579,000	25,538,000
Total Liabilities	47,366,000	42,735,000	42,273,000
Commitments and Contingencies (Note 14)	'	'	'
Stockholders' Equity:	'	'	'
Common stock, $0.00001 par value; 50,000 shares authorized; 14,858 shares issued and outstanding as of June 30, 2014; 12,691 shares issued and 12,596 shares outstanding as of May 31, 2013; 12,692 shares issued and outstanding as of June 30, 2013	1,000	1,000	1,000
Noncontrolling interest	6,076,000	5,564,000	5,603,000
Additional paid-in capital	78,105,000	65,536,000	65,536,000
Accumulated deficit	-34,322,000	-24,814,000	-24,183,000
Total stockholders' equity	49,860,000	46,287,000	46,957,000
Total Liabilities and Stockholders' Equity	$97,226,000	$89,022,000	$89,230,000

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Statement of Financial Position [Abstract]	'	'	'
Discount on convertible notes payable, current liability	$0	$352	$442
Discount on mandatorily redeemable preferred stock	$1,561	$1,561	$1,561
Common stock, par value (in dollars per share)	$0.00	$0.00	$0.00
Common stock, authorized shares	50,000,000	50,000,000	50,000,000
Common stock, issued shares	14,857,488	12,692,000	12,691,000
Common stock, outstanding shares	14,857,488	12,692,000	12,596,000

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	1 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Revenue:	'	'	'	'
Oil and natural gas sales	$1,716	$22,498	$8,982	$6,325
Operating Expenses:	'	'	'	'
Exploration expense	30	1,193	849	265
Production taxes	128	2,116	536	403
Lease operating expenses	634	3,224	1,769	943
Natural gas transportation and marketing expenses	50	183	104	170
Depreciation, depletion, amortization and impairment	665	9,694	4,515	5,149
Accretion of discount on asset retirement obligation	22	267	150	44
General and administrative expense	529	8,584	7,822	6,165
Total operating expenses	2,058	25,261	15,745	13,139
Loss from Operations	-342	-2,763	-6,763	-6,814
Other Income (Expense):	'	'	'	'
Change in fair value of derivative liability	'	'	496	'
Change in fair value of warrant liability	'	'	'	-763
Unrealized gain (loss) on investment in Cross Border Resources, Inc. warrants	'	'	-1,304	282
Equity in losses of Cross Border Resources, Inc.	'	'	-332	-316
Loss on extinguishment of mandatorily redeemable preferred stock	'	-2,281	'	'
Interest expense	-225	-3,363	-2,989	-2,096
Gain on consolidation of Cross Border Resources, Inc.	'	'	682	'
Gain (loss) on derivatives	-104	-544	49	'
Impairment on debentures	'	'	-503	'
Impairment on note receivable	'	'	-856	-2,725
Total Other Expense	-329	-6,188	-4,757	-5,618
Loss Before Income Taxes	-671	-8,951	-11,520	-12,432
Income tax provision	'	-44	'	'
Net loss	-671	-8,995	-11,520	-12,432
Net income (loss) attributable to non-controlling interest	-40	513	682	'
Net loss attributable to Red Mountain Resources, Inc	($631)	($9,508)	($12,202)	($12,432)
Basic and diluted net loss per common share (in dollars per share)	($0.05)	($0.70)	($1.20)	($1.69)
Basic and diluted weighted average common shares outstanding (in shares)	12,691	13,626	10,133	7,378

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Cash Flow From Operating Activities:	'	'	'	'
Net loss	($671)	($8,995)	($11,520)	($12,432)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	'	'	'	'
Depreciation, depletion, amortization and impairment	665	9,694	4,515	5,149
Equity in losses of Cross Border Resources, Inc.	'	'	332	316
Issuance of stock for consulting services	'	194	229	152
Gain on consolidation of Cross Border Resources, Inc.	'	'	-682	'
Dividend declared for preferred shares	'	179	'	'
Loss on extinguishment of mandatorily redeemable preferred stock	'	2,281	'	'
Deferred income tax expense	'	44	'	'
Accretion of discount on asset retirement obligation	22	267	150	44
Amortization of debt issuance costs	131	1,449	1,029	1,350
Loss on warrant liability	'	'	'	763
Unrealized gain (loss) on investment in Cross Border Resources, Inc. warrants	'	'	1,304	-282
Impairment on note receivable	'	'	856	2,725
Change in fair value of derivative liability	'	'	-281	'
Change in fair value of commodity derivatives	105	216	-215	'
Impairment on debentures	'	'	503	'
Change in working capital:	'	'	'	'
Accounts receivable-oil and natural gas sales	-1,151	1,487	-1	-170
Accounts receivable-joint interest	938	21	-2,531	-73
Accounts receivable-related party	'	'	'	25
Prepaid expenses and other current assets	-304	467	327	-649
Accounts payable	320	-5,268	-3,692	1,474
Accrued expenses	37	858	-324	657
Restricted cash	'	-41	-200	-252
Accounts payable-related party	'	'	-12	9
Net cash provided by (used in) operating activities	92	2,853	-10,213	-1,194
Cash Flow From Investing Activities:	'	'	'	'
Additions to oil and natural gas properties	-714	-17,033	-699	-15,271
Acquisition of oil and natural gas properties	'	'	255	-2,134
Additions to other property and equipment	-34	-136	-390	-530
Increase in Bamco note receivable	'	'	'	-44
Net cash acquired in Cross Border consolidation	'	'	279	'
Settlement of asset retirement obligations	'	-2	-54	'
Investment in Cross Border Resources, Inc.	'	'	'	-288
Net cash used in investing activities	-748	-17,171	-609	-18,267
Cash Flow From Financing Activities:	'	'	'	'
Proceeds from issuance of common shares, net of issuance costs	'	3,606	8,280	16,412
Exercise of warrants	'	'	150	'
Draws on line of credit	'	12,000	12,450	800
Payments under line of credit	'	-5,000	-3,187	-1,017
Proceeds from notes payable, net of issuance costs	'	'	2,400	4,457
Payments on notes payable	'	-2,000	-8,327	-3,776
Issuance costs of notes payable	'	-157	'	'
Proceeds from convertible notes payable	'	'	'	2,500
Issuance of preferred stock, net of expenses	'	7,095	'	'
Reverse merger recapitalization	'	'	'	132
Net cash provided by financing activities	'	15,544	11,766	19,508
Net change in cash and equivalents	-656	1,226	944	47
Cash at beginning of period	1,112	456	168	121
Cash at end of period	456	1,682	1,112	168
Supplemental Disclosure of Cash Flow Information	'	'	'	'
Cash paid during the period for interest	64	2,274	684	507
Non-Cash Transactions	'	'	'	'
Change in asset retirement obligation estimate	18	385	705	553
Issuance of shares for investment in Cross Border Resources, Inc.	'	'	15,236	4,804
Convertible notes payable derivative liability	'	'	300	'
Issuance of shares	'	'	10,076	888
Issuance of warrants	'	'	334	'
Issuance of options	'	'	529	'
Oil and natural gas properties included in accounts payable	'	'	6,532	914
Issuance of shares for debentures	'	541	'	'
Issuance of warrants with preferred stock	'	2,395	'	'
Settlement of mandatorily redeemable preferred stock with common stock	'	5,833	'	'
Issuance of replacement note for acquisition of Bamco note receivable	'	'	'	2,681
Convertible notes payable beneficial conversion	'	'	'	$1,603

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' and Members' Equity (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Share Subscription Receivable [Member]	Noncontrolling Interest [Member]	Total
Balance, beginning at May. 31, 2011	$270	'	$2,353,000	'	'	$2,353,000
Balance, beginning, shares at May. 31, 2011	2,700,000	'	'	'	'	'
Recapitalization adjustment as a result of reverse merger	369	5,777,000	'	'	'	5,778,000
Recapitalization adjustment as a result of reverse merger, shares	3,687,000	'	'	'	'	'
Issuance of shares, net of offering costs	101	6,449,000	'	'	'	6,449,000
Issuance of shares, net of offering costs, shares	1,014,000	'	'	'	'	'
Issuance of shares to brokers	3	314,000	'	'	'	314,000
Issuance of shares to brokers, shares	31,000	'	'	'	'	'
Issuance of shares for debt issuance costs	2	318,000	'	'	'	318,000
Issuance of shares for debt issuance costs, shares	20,000	'	'	'	'	'
Issuance of warrants with preferred stock	'	1,101,000	'	'	'	1,101,000
Issuance of shares for services	1	152,000	'	'	'	152,000
Issuance of shares for services, shares	10,000	'	'	'	'	'
Issuance of shares for investment in Cross Border Resources, Inc.	48	4,804,000	'	'	'	4,804,000
Issuance of shares for investment in Cross Border Resources, Inc., shares	480,000	'	'	'	'	'
Issuance of shares in other acquisitions	6	570,000	'	'	'	570,000
Issuance of shares in other acquisitions, shares	57,000	'	'	'	'	'
Convertible notes payable beneficial conversion discount	'	1,603,000	'	'	'	1,603,000
Cancellation of shares held by Black Rock Capital, Inc.	-1	1	'	'	'	1
Cancellation of shares held by Black Rock Capital, Inc., shares	-10,000	'	'	'	'	'
Net income (loss)	'	'	-12,432,000	'	'	-12,432,000
Balance, ending at May. 31, 2012	869	30,548,000	-10,079,000	-150,000	'	20,320,000
Balance, ending, shares at May. 31, 2012	8,693,000	'	'	'	'	'
Issuance of shares, net of offering costs	116	7,290,000	'	-100,000	'	7,190,000
Issuance of shares, net of offering costs, shares	1,160,000	'	'	'	'	'
Issuance of shares to brokers	3	212,000	'	'	'	212,000
Issuance of shares to brokers, shares	25,000	'	'	'	'	'
Issuance of shares for debt issuance costs	1	161,000	'	'	'	161,000
Issuance of shares for debt issuance costs, shares	12,000	'	'	'	'	'
Issuance of warrants with preferred stock	'	249,000	'	'	'	249,000
Issuance of shares for services	3	229,000	'	'	'	229,000
Issuance of shares for services, shares	26,000	'	'	'	'	'
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	1,573,000	'	'	'	'	'
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	117,000	'	'	'	'	'
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	194,000	'	'	'	'	'
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	75,000	'	'	'	'	'
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	238,000	'	'	'	'	'
Issuance of shares for equipment	'	14,000	'	'	'	14,000
Issuance of shares for equipment, shares	1,000	'	'	'	'	'
Issuance of shares for stock issuance liability	1	68,000	'	'	'	68,000
Issuance of shares for stock issuance liability, shares	8,000	'	'	'	'	'
Issuance of shares for debentures	57	4,782,000	'	'	'	4,782,000
Issuance of shares for debentures, shares	570,000	'	'	'	'	'
Issuance of warrants for debt issuance costs	'	133,000	'	'	'	133,000
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	12,692,000	'	'	'	'	12,691,000
Net income (loss)	'	'	-631,000	'	-40,000	-671,000
Balance, ending at Jun. 30, 2013	1,269	65,536,000	-24,814,000	'	5,563,000	46,287,000
Balance, ending, shares at Jun. 30, 2013	12,692,000	'	'	'	'	12,692,000
Issuance of shares, net of offering costs	64	3,606,000	'	'	'	3,606,000
Issuance of shares, net of offering costs, shares	643,000	'	'	'	'	'
Exercise of warrants	140	5,833,000	'	'	'	5,833,000
Exercise of warrants, shares	1,388,000	'	'	'	'	'
Issuance of warrants with preferred stock	'	2,395,000	'	'	'	2,395,000
Issuance of shares for services	5	194,000	'	'	'	194,000
Issuance of shares for services, shares	47,000	'	'	'	'	'
Issuance of shares for debentures	9	541,000	'	'	'	541,000
Issuance of shares for debentures, shares	87,000	'	'	'	'	'
Issuance of shares in exchange for preferred stock	140	5,833,000	'	'	'	5,833,000
Issuance of shares in exchange for preferred stock, shares	1,388,000	'	'	'	'	'
Net income (loss)	'	'	-9,508,000	'	513,000	-8,995,000
Balance, ending at Jun. 30, 2014	$1,487	$78,105,000	($34,322,000)	'	$6,076,000	$49,860,000
Balance, ending, shares at Jun. 30, 2014	14,857,488	'	'	'	'	14,857,488

Consolidated_Statements_of_Sto1

Consolidated Statements of Stockholders' and Members' Equity (Parenthetical) (USD $)	1 Months Ended	12 Months Ended
	Aug. 31, 2013	Jun. 30, 2014	31-May-13	31-May-12
Statement of Stockholders' Equity [Abstract]	'	'	'	'
Offering costs	$900,000	$895,000	$1,351,000	$3,687,000

Organization

Organization	12 Months Ended
Organization	Jun. 30, 2014
Organization	'
Organization	'
	1. Organization

	Red Mountain Resources, Inc. is a Texas corporation formed on January 23, 2014. On January 31, 2014, the Company changed its state of incorporation from the State of Florida to the State of Texas by merging Red Mountain Resources, Inc., a Florida corporation (“RMR FL”), with and into Red Mountain Resources, Inc., a Texas corporation. Unless the context otherwise requires, the terms “Red Mountain” and “Company” refer to Red Mountain Resources, Inc. and its consolidated subsidiaries.

	The Company is a Dallas-based 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 in the Permian Basin of West Texas and Southeast New Mexico and the onshore Gulf Coast of Texas. Additionally, the Company has an established and growing acreage position in Kansas.

	Reverse stock split

	On January 31, 2014, 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. All share and per share amounts and calculations have been retroactively adjusted to reflect the effects of the Reverse Stock Split.

	Change in fiscal year end

	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. The unaudited one-month transition period was reported in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 and the audited one-month transition period is included in this Annual Report on Form 10-K.

	In the Consolidated Statements of Operations, the Company compares the fiscal year ended June 30, 2014 with the previously reported fiscal years ended May 31, 2013 and 2012. Financial information for the fiscal years ended June 30, 2013 and 2012 has not been included for the following reasons: (i) the fiscal years ended May 31, 2013 and 2012 provide a meaningful comparison for the fiscal year ended June 30, 2014; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for the fiscal years ended June 30, 2013 and 2012 were presented in lieu of results for the fiscal years ended May 31, 2013 and 2012; and (iii) it was not practicable or cost justified to prepare this information.

Liquidity

Liquidity	12 Months Ended
Liquidity	Jun. 30, 2014
Liquidity	'
Liquidity	'
	2. Liquidity

	The Company incurred a net loss attributable to Red Mountain Resources, Inc. of $9.5 million during the fiscal year ended June 30, 2014. At June 30, 2014, the outstanding principal amount of the Company’s indebtedness was $31.6 million, consisting of $26.8 million under its credit facility and $4.8 million of mandatorily redeemable preferred stock, net of a discount of $1.6 million, and the Company had a working capital deficit of $2.4 million. As of June 30, 2014, none of the Company’s debt was due within the next twelve months.

	Assuming successful and timely implementation of the Company’s current and planned development program, the Company expects cash on hand, borrowings under its credit facility and cash flow from operations will be sufficient to fund its fiscal 2015 development program. If not, the Company will either curtail its development program or seek other funding sources.

Significant_Accounting_Policie

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Jun. 30, 2014
Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	3. Summary of Significant Accounting Policies

	Consolidation, basis of presentation and significant estimates

	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly and majority-owned subsidiaries. Intercompany accounts and transactions are eliminated. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the financial statements and disclosures of contingencies. Significant assumptions are required in the valuation of proved oil and natural gas reserves, which affect the Company’s estimate of depletion expense as well as its impairment analyses. Significant assumptions also are required in the Company’s estimation of accrued liability, derivatives, environmental remediation liability and asset retirement obligations. Changes in facts and circumstances may result in revised estimates and actual results may differ from these estimates.

	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.

	Noncontrolling interests

	Subsequent to January 28, 2013, the Company accounts for the noncontrolling interest in Cross Border Resources, Inc. (“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. Whether or not 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 Consolidated Balance Sheets and Consolidated Statements of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Consolidated Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s 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.

	Debentures - held to maturity

	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 $2.1 million, $1.5 million and $1.5 million, plus accrued interest in arrears as of June 30, 2014, May 31, 2013 and June 30, 2013, 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 June 30, 2014 and 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 recorded impairment on debentures of $0.5 million during the fiscal year ended May 31, 2013. The Company did not record an impairment during the fiscal year ended June 30, 2014 or the one month ended June 30, 2013.

	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.

	Cash and cash equivalents

	The Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. At times, the amount of cash and cash equivalents on deposit in financial institutions exceeds federally insured limits. The Company monitors the soundness of the financial institutions and believes the Company’s risk is negligible.

	Restricted cash

	Restricted cash is classified as long-term based on the terms of the agreement. Restricted cash at June 30, 2014, May 31, 2013 and June 30, 2013 represents cash held in U.S. banks as collateral for standby letters of credit issued in connection with the Company’s oil and natural gas production activities.

	Financial instruments

	The carrying amounts of financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities and long-term debt, approximate fair value as of June 30, 2014, May 31, 2013 and June 30, 2013.

	Oil and natural gas properties

	Effective June 1, 2011, the Company follows the successful efforts method of accounting for its oil and natural gas producing activities. The change in accounting principle has been applied retroactively to prior periods. Costs to acquire mineral interests in oil and natural gas properties and to drill and equip development wells and related asset retirement costs are capitalized. Costs to drill exploratory wells are capitalized pending determination of whether the wells have proved reserves. If the Company determines that the wells do not have proved reserves, the costs are charged to expense. There were no exploratory wells capitalized pending determination of whether the wells have proved reserves at June 30, 2014, May 31, 2013 and June 30, 2013. Geological and geophysical costs, including seismic studies and costs of carrying and retaining unproved properties, are charged to expense as incurred. The Company capitalizes interest on expenditures for significant exploration and development projects that last more than six months while activities are in progress to bring the assets to their intended use. Through June 30, 2014, the Company had capitalized no interest costs because its exploration and development projects generally lasted less than six months. Costs incurred to maintain wells and related equipment are charged to expense as incurred.

	On the sale or retirement of a complete unit of a proved property, the cost and related accumulated depreciation, depletion and amortization are eliminated from the property accounts, and the resultant gain or loss is recognized. On the retirement or sale of a partial unit of proved property, the cost is charged to accumulated depreciation, depletion and amortization, with a resulting gain or loss recognized in income.

	Capitalized amounts attributable to proved oil and natural gas properties are depleted by the unit-of-production method over proved reserves using the unit conversion ratio of six Mcf of gas to one barrel of oil equivalent (“Boe”). The ratio of six Mcf of natural gas to one Boe is based upon energy equivalency, rather than price equivalency. Given current price differentials, the price for a Boe for natural gas differs significantly from the price for a barrel of oil.

	It is common for operators of oil and natural gas properties to request that joint interest owners pay for large expenditures, typically for drilling new wells, in advance of the work commencing. This right to call for cash advances is typically found in the operating agreement that joint interest owners in a property adopt. The Company records these advance payments in prepaid and other current assets in its property account and releases this account when the actual expenditure is later billed to it by the operator.

	On the sale of an entire interest in an unproved property for cash or cash equivalents, gain or loss on the sale is recognized, taking into consideration the amount of any recorded impairment if the property had been assessed individually. If a partial interest in an unproved property is sold, the amount received is treated as a reduction of the cost of the interest retained.

	Impairment of long-lived assets

	The Company evaluates its long-lived assets for potential impairment in their carrying values whenever events or changes in circumstances indicate such impairment may have occurred. Oil and natural gas properties are evaluated for potential impairment by field. Other properties are evaluated for impairment on a specific asset basis or in groups of similar assets, as applicable. An impairment on proved properties is recognized when the estimated undiscounted future net cash flows of an asset are less than its carrying value. If an impairment occurs, the carrying value of the impaired asset is reduced to its estimated fair value, which is generally estimated using a discounted cash flow approach. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is added to the capitalized costs to be amortized. During fiscal years ended June 30, 2014 and May 31, 2012, the Company recognized impairments on its proved properties of $0.3 million and $1.0 million, respectively. The Company did not recognize an impairment on its proved properties during the fiscal year ended May 31, 2013 or the one month ended June 30, 2013.

	Unproved oil and natural gas properties do not have producing properties. As reserves are proved through the successful completion of exploratory wells, the cost is transferred to proved properties. The cost of the remaining unproved basis is periodically evaluated by management to assess whether the value of a property has diminished. To do this assessment, management considers estimated potential reserves and future net revenues from an independent expert, the Company’s history in exploring the area, the Company’s future drilling plans per its capital drilling program prepared by the Company’s reservoir engineers and operations management and other factors associated with the area. Impairment is taken on the unproved property cost if it is determined that the costs are not likely to be recoverable. The valuation is subjective and requires management to make estimates and assumptions which, with the passage of time, may prove to be materially different from actual results. During fiscal years ended June 30, 2014, May 31, 2013 and 2012, the Company recognized impairments on its unproved properties of $0.2 million, $0.4 million and $1.0 million, respectively. The Company did not recognize an impairment on its unproved properties during the one month ended June 30, 2013.

	Revenue and accounts receivable

	The Company recognizes revenue for its production when the quantities are delivered to, or collected by, the purchaser. Prices for such production are generally defined in sales contracts and are readily determinable based on certain publicly available indices. All transportation costs are included in lease operating expense.

Accounts receivable — oil and natural gas sales consist of uncollateralized accrued revenues due under normal trade terms, generally requiring payment within 30 to 60 days of production. Accounts receivable — joint interest consist of amounts owed from interest owners of the Company’s operated wells. No interest is charged on past-due balances. Payments made on all accounts receivable are applied to the earliest unpaid items. The Company reviews accounts receivable periodically and reduces the carrying amount by a valuation allowance that reflects its best estimate of the amount that may not be collectible. No valuation allowance was recognized as of June 30, 2014, May 31, 2013 and June 30, 2013.

Dependence on major customers

For the fiscal year ended June 30, 2014, approximately 63% of the Company’s revenues were attributable to sales of oil to four customers, and approximately 18% of the Company’s revenues were received from one operator pursuant to a joint operating agreement. For the fiscal year ended May 31, 2013, approximately 85% of the Company’s revenues were attributable to sales of oil to two customers, and approximately 11% of the Company’s revenues were received from one operator pursuant to a joint operating agreement. For the fiscal year ended May 31, 2012, approximately 50% of the Company’s revenues were attributable to sales of oil to one customer, and approximately 41% of the Company’s revenues were received from one operator pursuant to a joint operating agreement. The Company believes that there are potential alternative purchasers and that it may be necessary to establish relationships with new purchasers. However, there can be no assurance that the Company can establish such relationships and that those relationships will result in an increased number of purchasers. Although the Company is exposed to a concentration of credit risk, the Company believes that all of its purchasers are creditworthy. The Company had no bad debt for the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013.

Other property

Furniture, fixtures and equipment are carried at cost. Depreciation of furniture, fixtures and equipment is provided using the straight-line method over estimated useful lives ranging from three to ten years. Gain or loss on retirement or sale or other disposition of assets is included in income in the period of disposition.

Income taxes

The Company is subject to U.S. federal income taxes along with state income taxes in Texas, New Mexico and Arkansas. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying Consolidated Balance Sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the Company’s Consolidated Statements of Operations. The Company accrues interest and penalties, if any, related to unrecognized tax benefits as a component of income tax expense.

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the tax rate in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the year of the enacted tax rate change. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized.

Asset retirement obligations

Asset retirement obligations (“AROs”) associated with the retirement of tangible long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the tangible asset, including the asset retirement cost, is depreciated over the useful life of the asset. AROs are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at the Company’s credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liabilities are accreted to their expected settlement value. If estimated future costs of AROs change, an adjustment is recorded to both the ARO and the long-lived asset. Revisions to estimated AROs can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment.

Earnings per common 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.

Derivative financial instruments

All derivative instruments are recorded on the Company’s Consolidated Balance Sheet at fair value. Historically, the Company has not designated its derivative instruments as cash-flow hedges. Although the Company has not designated its derivative instruments as cash-flow hedges, it uses those instruments to reduce its exposure to fluctuations in commodity prices related to its oil and natural gas production. Unrealized gains and losses, at fair value, are included on the Company’s 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 derivative contracts and realized gains and losses are recorded in earnings as they occur and included in other income (expense) on the Company’s Consolidated Statements of Operations.

Recent accounting pronouncements

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of the adoption of ASU 2014-09 on its consolidated financial statements and have not yet determined the method by which it will adopt the standard in 2017.

Investment_in_Cross_Border_Res

Investment in Cross Border Resources, Inc.	12 Months Ended
Investment in Cross Border Resources, Inc.	Jun. 30, 2014
Investment In Cross Border Resources Inc.	'
Investment in Cross Border Resources, Inc.	'
	4. Investment in Cross Border Resources, Inc.

	On May 23, 2011, the Company entered into a securities purchase agreement with Cross Border Resources, Inc. (“Cross Border”), pursuant to which the Company purchased 2,136,164 units of Cross Border for a purchase price of $3.2 million. Each unit included one share of common stock of Cross Border and one warrant to acquire an additional share of common stock of Cross Border. The warrants have an exercise price of $2.25 per share. The warrants are exercisable until May 26, 2016. As of May 31, 2011, the Company owned approximately 13.2% of Cross Border’s outstanding common stock valued at $4.8 million based on the closing market price on that date.

	During the fiscal year ended May 31, 2012, the Company entered into several stock purchase and sale agreements with a limited number of stockholders pursuant to which the Company acquired 2,701,261 shares of common stock of Cross Border from such stockholders in exchange for the issuance of 480,396 shares of the Company’s common stock and $287,532 in cash. As of May 31, 2012, the Company owned approximately 30.0% of Cross Border’s outstanding common stock valued at $9.0 million based on the closing market price on that date.

	Due to increased ownership in Cross Border during the fiscal year ended May 31, 2012, the Company retroactively applied the equity method of accounting to all prior periods presented. The difference between the Company’s gross investment of $7.6 million in Cross Border and equity share of net assets totaling $5.2 million has been allocated to the Company’s investment in Cross Border’s oil and natural gas properties. The excess basis of the Company’s gross investment over the equity share of net assets is depleted each quarter based upon Cross Border’s depletion rate calculated on its oil and natural gas properties. The depletion for the fiscal years ended May 31, 2013 and 2012 was $346,818 and $243,921, respectively.

	Due to timing differences in the Company’s and Cross Border’s fiscal year ends and quarterly periods and due to the lack of financial information for Cross Border for the current quarterly period, the Company books its share of Cross Border’s financial activity on a two-month lag. In accordance with the equity method of accounting, the investment is initially recorded at cost and adjusted to reflect the Company’s share of changes in Cross Border’s capital. It is further adjusted to recognize the Company’s share of Cross Border’s earnings as they occur, rather than as dividends or other distributions are received. The Company’s share of Cross Border’s earnings would also include any other-than-temporary declines in fair value recognized during the period. Changes in the Company’s proportionate share of the underlying equity of Cross Border which result from Cross Border’s issuance of additional equity securities are recognized as increases or decreases in stockholders’ equity, net of any related tax effects. The Company recognized losses in its equity investment in Cross Border for net loss by Cross Border of $14,390 and $71,998 for the period June 1, 2012 to January 28, 2013 and the fiscal year ended May 31, 2012, respectively, in the Company’s Consolidated Statements of Operations. The Company consolidated Cross Border beginning January 28, 2013. See Note 5 – Acquisitions for further discussion.

	The following represents Cross Border’s summarized unaudited financial information as of and for the twelve months ended March 31, 2012:

	(in thousands)	31-Mar-12
	Assets:
	Total current assets	$	4,059
	Noncurrent assets		31,878
	Total assets	$	35,937
	Liabilities:
	Total current liabilities	$	5,466
	Total long-term liabilities		11,824
	Equity		18,647
	Total liabilities and equity	$	35,937
	Revenues	$	9,320
	Income from operations	$	1,041
	Net income	$	21

	As of June 30, 2014 and May 31, 2013, the Company held 2,502,831 common stock purchase warrants for the purchase of common stock of Cross Border. The warrants have an exercise price of $2.25 per share and are exercisable until May 26, 2016. As discussed in Note 5 - Acquisitions, Cross Border was consolidated as of January 28, 2013 and therefore the warrants had no value as of June 30, 2014 and May 31, 2013.

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Jun. 30, 2014
Acquisitions	'
Acquisitions	'
	5. Acquisitions

	Acquisition of properties

	In April 2012, the Company acquired oil and natural gas interests in approximately 547 gross and net acres in the East Ranch Prospect in Pecos County, Texas for cash consideration of $421,000. In April 2012, the Company also acquired oil and natural gas interests in 989 gross and net acres in the West Ranch Prospect in Pecos County, Texas for cash consideration of $677,000. The Company owns a 100% working interest and an 80% net revenue interest in these properties.

	The following transactions have been accounted for using the acquisition method of accounting which requires that, among other things, assets acquired and liabilities assumed 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 in the acquisitions below.

	Cross Border Resources, Inc.

	On January 28, 2013, the Company acquired 5,091,210 shares of common stock of Cross Border from a limited number of stockholders of Cross Border in exchange for the issuance of 1,018,242 shares of common stock of the Company, bringing its total ownership to 78% of the outstanding Cross Border common stock. Prior to January 28, 2013, the Company accounted for its investment in Cross Border as an equity method investment. After January 28, 2013, the Company consolidates Cross Border and prior periods are not restated. The Company incurred transaction expense of $0.9 million and $0.6 million for the fiscal years ended May 31, 2013 and 2012 in connection with its acquisition of Cross Border.

	Prior to this acquisition, the Company owned 47% of Cross Border’s outstanding common stock. In accordance with ASC 805, the Company accounted for this transaction as a step acquisition, remeasured its previously held investment to fair value and recorded the approximately $0.7 million difference between fair value and its carrying value as gain on consolidation of Cross Border Resources, Inc. in the Company’s Consolidated Statements of Operations. The acquisition date fair value of the Company’s ownership of 78% of Cross Border’s outstanding common stock was approximately $21.3 million, and the carrying value was approximately $20.6 million. This fair value was determined using a market approach, which includes significant Level 3 unobservable inputs.

	The Company consolidated the results of operations of Cross Border for the four month period from January 28, 2013 to May 31, 2013. Accordingly, the Company recorded a $2.0 million charge to accumulated deficit for the two-month lag resulting from differences in the Company’s and Cross Border’s fiscal year ends and quarterly periods.

	On April 26, 2013, the Company issued 57,530 shares of common stock to certain shareholders of Cross Border as consideration for the purchase of 287,653 shares of Cross Border’s common stock. The aggregate value of the common stock issued was $460,245. Management determined the fair value based on the closing price of the Company’s common stock on the OTCBB on the date of issuance. The additional shares increased the Company’s ownership in Cross Border’s outstanding common stock to 83%.

	The Company recorded the initial step acquisition as follows:

	(in thousands)
	Purchase Price:
	Fair value of 2,054 shares of the Company’s common stock exchanged for Cross Border common stock		$	18,282
	Cash acquisition of Cross Border common stock			3,492
	Acquisition of Cross Border note payable and accrued interest			697
	Total consideration paid		$	22,471

	Add: Estimated Fair Value of Liabilities Assumed:
	Accounts payable		$	4,794
	Asset retirement obligations			3,329
	Environmental liability			2,100
	Line of credit			8,750
	Creditors payable			1,353
	Accrued expense and other liabilities			114
	Amount attributable to liabilities assumed			20,440
	Noncontrolling interest			6,359
	Total purchase price		$	49,270

	Estimated Fair Value of Net Assets Acquired:
	Cash		$	279
	Accounts receivable			2,815
	Prepaid and other current assets			451
	Derivative assets			35
	Other property and equipment			52
	Proved oil and gas properties			29,376
	Unproved oil and gas properties			16,208
	Other long-term assets			54
	Amount attributable to net assets acquired		$	49,270

	The Company and Cross Border are parties to a Technical Service Agreement under which the Company provides operational services, such as workovers, for Cross Border’s operated wells which costs are eliminated on consolidation.

	Bamco Gas, LLC

	On December 10, 2012, Red Mountain issued 237,500 shares of common stock to the indenture trustee of certain debentures of Bamco Gas, LLC (“Bamco”) pursuant to a purchase agreement in which the Company agreed to acquire certain assets of the receivership estate of Bamco, mainly consisting of working interests and claims and causes of action in or relating to certain oil and gas exploration projects in Duval, Johnson and Zapata Counties in Texas. Bamco was considered a related party prior to the transaction because Alan Barksdale, the chief executive officer and chairman of the board of the Company was the receiver for the receivership estate. As part of the consideration paid, the Company executed a waiver and release of a certain claim against the receivership estate of Bamco for a $2.7 million note receivable that the Company deemed uncollectible in 2011. Transaction expense incurred in the acquisition of Bamco’s assets was not material.

	The Company recorded the purchase price as follows:

	(in thousands)
	Purchase Price:
	Fair value of 238 shares of the Company’s common stock issued		$	2,232
	Asset retirement obligations assumed			403
	Post-closing adjustments			84
	Total purchase price		$	2,719

Estimated Fair Value of Net Assets Acquired:
Proved oil and gas properties		$	1,909
Unproved oil and gas properties			810
Amount attributable to net assets acquired		$	2,719

Pro forma results of operations

The following table presents the unaudited pro forma results of operations as though the acquisitions of Cross Border and Bamco had occurred as of June 1, 2011 (in thousands, except per share amounts):

		Fiscal Year Ended May 31,
		2013			2012
Revenues		$	17,118		$	18,101
Loss from operations			(13,821	)		(3,711	)
Net loss			(18,709	)		(9,088	)
Basic and diluted net loss per common share		$	(1.80	)	$	(0.90	)

Oil_and_Natural_Gas_Properties

Oil and Natural Gas Properties and Other Property and Equipment	12 Months Ended
	Jun. 30, 2014
Oil And Natural Gas Properties And Other Property And Equipment	'
Oil and Natural Gas Properties and Other Property and Equipment	'
	6. 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)	30-Jun-14			31-May-13			30-Jun-13
	Oil and natural gas properties:
	Proved	$	82,362		$	63,891		$	64,539
	Unproved		19,109			19,539			19,622
	Total oil and natural gas properties		101,471			83,430			84,161
	Less accumulated depletion and impairment		(19,138	)		(9,140	)		(9,788	)
	Net oil and natural gas properties capitalized costs	$	82,333		$	74,290		$	74,373

	At June 30, 2014, May 31, 2013 and June 30, 2013, the capitalized costs of the Company’s oil and natural gas properties included (i) $39.0 million, $39.2 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) $39.6 million, $21.9 million and $25.3 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 fiscal years ended June 30, 2014, May 31, 2013 and 2012, the Company incurred approximately $1.2 million, $0.8 million and $0.3 million, respectively, in exploratory drilling costs, of which all amounts were included in exploration expense. During the one month ended June 30, 2013, the Company did not incur any significant exploratory drilling costs. The Company had no transfers of exploratory well costs to proved properties during the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013.

	In January 2013, the Company executed a Stipulation of Interest and Cross Conveyance Agreement with Chevron Midcontinent, L.P. (“Chevron”) which provided for the purchase and sale of oil and natural gas leasehold interests and associated wells across lands owned by the Company and Chevron in Lea County, New Mexico. In conjunction with the transaction, the Company received $255,000 and a working interest in a portion of the leasehold owned by Chevron, and Chevron received a working interest in a portion of the leasehold owned by the Company.

	The Company recorded $0.2 million of impairment related to its unproved oil and gas properties during the fiscal year ended June 30, 2014 related to expiring acreage. The Company recorded $0.4 million of impairment related to its unproved oil and natural gas properties during the fiscal year ended May 31, 2013 related to expiring acreage. The Company recorded a $1.0 million expense on its unproved oil and natural gas properties during the fiscal year ended May 31, 2012 attributable to expired leases on its Pawnee Prospect and the abandonment of its Bayou Darbonne Prospect. The expense is included in exploration expense in the Company’s Consolidated Statements of Operations. The Company recorded no impairment related to its unproved oil and natural gas properties during the one month ended June 30, 2013.

	The Company recorded $0.3 million in impairment charges on its proved properties for the fiscal year ended June 30, 2014, primarily due to a decline in reserves and production associated with wells on its Pawnee and Walnut Creek Prospects, which was included in depreciation, depletion, amortization and impairment in the Company’s Consolidated Statements of Operations. The Company recorded $1.0 million in impairment charges on its proved properties for the fiscal year ended May 31, 2012, primarily due to a decline in reserves and production associated with wells on its Pawnee Prospect, which was included in depreciation, depletion, amortization and impairment in the Company’s Consolidated Statements of Operations. There was no impairment to the Company’s proved properties during the fiscal year ended May 31, 2013 and the one month ended June 30, 2013.

	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)	30-Jun-14			31-May-13			30-Jun-13
	Other property and equipment	$	1,196		$	1,026		$	1,061
	Less accumulated depreciation and amortization		(359	)		(184	)		(199	)
	Net property and equipment	$	837		$	842		$	862

Asset_Retirement_Obligations

Asset Retirement Obligations	12 Months Ended
Asset Retirement Obligations	Jun. 30, 2014
Asset Retirement Obligations	'
Asset Retirement Obligations	'
	7. Asset Retirement Obligations

	The following table presents the balance and activity of the Company’s ARO for the periods indicated:

		Fiscal Year Ended						One Month Ended
	(in thousands)	30-Jun-14			31-May-13			30-Jun-13
	Asset retirement obligations at beginning of period	$	5,020		$	836		$	4,979
	Liabilities incurred		75			22			19
	Liabilities settled		(2	)		(53	)		—
	Acquisitions		—			3,728			—
	Accretion expense		267			150			22
	Revisions in estimated liabilities		385			296			—
	Asset retirement obligations at end of period	$	5,745		$	4,979		$	5,020
	Less: current portion		214			228			228
	Long-term portion	$	5,531		$	4,751		$	4,792

	During the fiscal years ended June 30, 2014 and May 31, 2013, the Company recorded an upward revision to previous estimates for its ARO primarily due to changes in the estimated future cash outlays.

Derivatives

12 Months Ended

Jun. 30, 2014

Derivatives

8. Derivatives

At June 30, 2014, the Company had the following commodity derivatives positions outstanding:

Commodity and Time Period

Contract Type

Volume Transacted

Contract Price

Crude Oil

July 1, 2014—August 31, 2014 Collar—Minimum

Option

1,437 Bbls/month

80.00/Bbl

July 1, 2014—August 31, 2014 Collar—Maximum

Option

1,437 Bbls/month

100.50/Bbl

July 1, 2014—November 30, 2014

Swap

2,000 Bbls/month

93.50/Bbl

July 1, 2014—December 31, 2014

Put

1,979-8,330 Bbls/month

$95.00 - $100.00/Bbl

At May 31, 2013 and June 30, 2013, the Company had the following commodity derivatives positions outstanding:

Commodity and Time Period

Contract Type

Volume Transacted

Contract Price

Crude Oil

June 1, 2013—August 1, 2014 Collar - Minimum

Option

437-1,936 Bbls/month

80.00/Bbl

June 1, 2013—August 1, 2014 Collar - Maximum

Option

437-1,936 Bbls/month

100.50/Bbl

June 1, 2013—November 1, 2014

Swap

2,000 Bbls/month

93.50/Bbl

June 1, 2013—February 28, 2014

Swap

1,000 Bbls/month

106.50/Bbl

The following table summarizes the fair value of the Company’s open commodity derivatives as of June 30, 2014, May 31, 2013 and June 30, 2013 (in thousands):

Balance Sheet Location

Fair Value

June 30,

May 31,

June 30,

2014

2013

Derivatives not designated as hedging instruments

Commodity derivatives

Commodities derivative asset

265

132

Commodity derivatives

Commodities derivative liabilities

(121

)

(34

)

—

The following table summarizes the change in the fair value of the Company’s commodity derivatives (in thousands):

Income Statement Location

Fiscal Year Ended

One Month Ended

30-Jun-14

30-May-13

30-May-12

30-Jun-13

Derivatives not designated as hedging instruments

Commodity derivatives

Gain (loss) on derivatives

(544

)

—

(104

)

Unrealized gains and losses, at fair value, are included on the Company’s 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 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 Consolidated Balance Sheets. Realized gains and losses are also included in other income (expense) on its 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”) with Cross Border, Black Rock Capital, Inc. (“Black Rock”) and RMR Operating, LLC (collectively with the Company, the “Borrowers”) and Independent Bank, as Lender (the “Lender”), 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 that transferred Cross Border’s then-existing swap agreements to the Company. Pursuant to an Inter-Borrower Agreement among the Borrowers, 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	12 Months Ended
Fair Value Measurements	Jun. 30, 2014
Fair Value Measurements	'
Fair Value Measurements	'
	9. 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 June 30, 2014, May 31, 2013 and June 30, 2013:

			Fair Value Measurements at Reporting Date Using
	(in thousands)		Quoted Prices in Active Markets for Identical Assets or Liabilities			Significant or Other Observable Inputs			Significant Unobservable Inputs			Fair Value at June 30, 2014
	(in thousands)		(Level 1)			(Level 2)			(Level 3)			Fair Value at June 30, 2014
	Assets:
	Commodities derivatives		$	—		$	37		$	—		$	37
	Oil and gas properties impairment (nonrecurring)			—			—			(487	)		(487	)
	Total		$	—		$	37		$	(487	)	$	(450	)

	Liabilities:
	Asset retirement obligations (non-recurring)		$	—		$	—		$	(5,745	)	$	(5,745	)
	Commodities derivative liability			—			(121	)		—			(121	)
	Environmental remediation liability			—			—			(2,067	)		(2,067	)
	Total		$	—		$	(121	)	$	(7,812	)	$	(7,933	)

			Fair Value Measurements at Reporting Date Using
	(in thousands)		Quoted Prices in Active Markets for Identical Assets or Liabilities			Significant or Other Observable Inputs			Significant Unobservable Inputs			Fair Value at May 31, 2013
	(in thousands)		(Level 1)			(Level 2)			(Level 3)			Fair Value at May 31, 2013
	Assets:
	Commodities derivatives		$	—		$	265		$	—		$	265
	Oil and gas properties impairment (nonrecurring)			—			—			(411	)		(411	)
	Total		$	—		$	265		$	(411	)	$	(146	)

	Liabilities:
	Asset retirement obligations (non-recurring)		$	—		$	—		$	(4,979	)	$	(4,979	)
	Commodities derivative liability			—			(34	)		—			(34	)
	Environmental remediation liability			—			—			(2,088	)		(2,088	)
	Total		$	—		$	(34	)	$	(7,067	)	$	(7,101	)

			Fair Value Measurements at Reporting Date Using
	(in thousands)		Quoted Prices in Active Markets for Identical Assets or Liabilities			Significant or Other Observable Inputs			Significant Unobservable Inputs			Fair Value at June 30, 2013
	(in thousands)		(Level 1)			(Level 2)			(Level 3)			Fair Value at June 30, 2013
	Assets:
	Commodities derivative asset		$	—		$	132		$	—		$	132
	Total		$	—		$	132		$	—		$	132

	Liabilities:
	Asset retirement obligations (non-recurring)		$	—		$	—		$	(5,020	)	$	(5,020	)
	Environmental remediation liability			—			—			(2,088	)		(2,088	)
	Total		$	—		$	—		$	(7,108	)	$	(7,108	)

	The following is a summary of changes to fair value measurements using Level 3 inputs during the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013:

	(in thousands)		Environmental Liability
	Balance, May 31, 2012			—
	Acquisitions			(2,100	)
	Settlement of liabilities			12
	Acquired debentures			—
	Unrealized gain (loss) recorded in earnings			—
	Balance, May 31, 2013			(2,088	)
Acquisitions			—
Settlement of liabilities			—
Acquired debentures			—
Unrealized gain (loss) recorded in earnings			—
Balance, June 30, 2013			(2,088	)
Acquisitions			—
Settlement of liabilities			21
Acquired debentures			—
Unrealized gain (loss) recorded in earnings			—
Balance, June 30, 2014		$	(2,067	)

The Company accounts for additions to AROs and oil and natural gas properties at fair value on a non-recurring basis. The Company’s accounting policies for AROs are discussed in Note 3, and reconciliations of the Company’s AROs are provided in Note 7 for the periods presented. For purposes of fair value measurement, the Company determined that additions to AROs should be classified as Level 3. The Company recorded additions to AROs of approximately $75,000, $22,000, $632,000 and $19,000 in fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013, respectively.

The Company’s accounting policies for oil and gas properties are discussed in Note 3. For purposes of fair value measurement, the Company determined that oil and natural gas properties should be classified as Level 3. See Note 6 for a discussion of impairment recorded during fiscal years 2014, 2013 and 2012 and the one month ended June 30, 2013.

Debt

Debt	12 Months Ended
Debt	Jun. 30, 2014
Debt	'
Debt	'
	10. Debt

	As of the dates indicated, the Company’s debt consisted of the following:

	(in thousands)		30-Jun-14		31-May-13		30-Jun-13
	Credit Facility		$	26,800	$	19,800	$	19,800
	Subordinated Note			—		500		500
	Mandatorily redeemable preferred stock, net of discount of $1,561, $0, and $0, respectively			4,801		—		—
	Convertible promissory notes, net of discount of $0, $442 and $352			—		3,308		3,398
	Total debt			31,601		23,608		23,698
	Less: short-term portion			—		3,808		3,898
	Long-term debt		$	31,601	$	19,800	$	19,800

	Credit Facility

	On February 5, 2013, the Company entered into the Credit Agreement with the Borrowers and Lender. The Credit Agreement provides for an up to $100.0 million revolving credit facility (as amended, the “Credit Facility”) with 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. As of June 30, 2014, the borrowing base was $30.0 million.

	A portion of the Credit Facility, in an aggregate amount not to exceed $2.0 million, may be used to issue letters of credit for the account of Borrowers. The Borrowers may be required to prepay the Credit Facility in the event of a borrowing base deficiency as a result of over-advances, sales of oil and gas properties or terminations of hedging transactions.

	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% (4.0% at June 30, 2014). Interest is payable monthly in arrears on the last day of each calendar month. 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.

	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.

	The Credit Agreement contains negative covenants that may limit the Borrowers’ ability to, among other things, incur liens, incur additional indebtedness, enter into mergers, sell assets, make investments and pay dividends. The Credit Agreement permits the payment of cash dividends on the Company’s 10.0% Series A Convertible Redeemable Preferred Stock (the “Series A Preferred Stock”) so long as the Company is not otherwise in default under the Credit Agreement and payment of such cash dividends would not cause the Company to be in default under the Credit Agreement.

	The Credit Agreement also contains financial covenants, measured as of the last day of each fiscal quarter of Red Mountain, requiring the Borrowers to maintain a ratio of (i) the Borrowers’ and their consolidated subsidiaries’ consolidated current assets (inclusive of the unfunded commitment amount under the Credit Agreement) to consolidated current liabilities (exclusive of the current portion of long-term debt under the Credit Agreement) of at least 1.00 to 1.00; (ii) the Borrowers’ and their subsidiaries’ consolidated “Funded Debt” to consolidated EBITDAX (for the four fiscal quarter period then ended) of less than 3.50 to 1.00; and (iii) the Borrowers’ and their subsidiaries’ consolidated EBITDAX less paid and accrued dividends on the Series A Preferred Stock to interest expenses (each for the four fiscal quarter period then ended) of at least 3.00 to 1.00. Funded Debt is defined in the Credit Agreement as the sum of all debt for borrowed money, whether as a direct or reimbursement obligor, but excludes shares of Series A Preferred Stock. EBITDAX is defined in the Credit Agreement as (a) consolidated net income plus (b) (i) interest expense, (ii) income taxes, (iii) depreciation, (iv) depletion and amortization expenses, (v) dry hole and exploration expenses, (vi) non-cash losses or charges on any hedge agreements resulting from derivative accounting, (vii) extraordinary or non-recurring losses, (viii) expenses that could be capitalized under GAAP but by election of Borrowers are being expensed for such period under GAAP, (ix) costs associated with intangible drilling costs, (x) other non-cash charges, (xi) one-time expenses associated with transactions associated with (b)(i) through (iv), minus (c)(i) non-cash income on any hedge agreements resulting from FASB Statement 133, (ii) extraordinary or non-recurring income, and (iii) other non-cash income.

	Amounts outstanding under the Credit Facility may be accelerated and become immediately due and payable upon specified events of default of Borrowers, including, among other things, a default in the payment of principal, interest or other amounts due under the Credit Facility, certain loan documents or hydrocarbon hedge agreements, a material inaccuracy of a representation or warranty, a default with regard to certain loan documents which remains unremedied for a period of 30 days following notice, a default in the payment of other indebtedness of the Borrowers of $200,000 or more, bankruptcy or insolvency, certain changes in control, failure of the Lender’s security interest in any portion of the collateral with a value greater than $500,000, cessation of any security document to be in full force and effect, or Alan Barksdale ceasing to be Red Mountain’s Chief Executive Officer or Chairman of Cross Border and not being replaced with an officer acceptable to the Lender within 30 days.

	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, Red Mountain has hedge agreements with various counterparties hedging a portion of the future oil production of the Borrowers.

	As of June 30, 2014, the Borrowers had collectively borrowed $26.8 million and had availability of $3.2 million under the Credit Facility. The Company was in compliance with all of the financial covenants under the Credit Facility described above at June 30, 2014.

	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”). The value of the beneficial conversion feature of the three Convertible Notes was $1.6 million at the date of issuance. The beneficial conversion feature was recorded as a discount to the Convertible Notes payable and to additional paid-in-capital and was amortized to interest expense over the life of the Convertible Notes. The Company amortized $0.4 million, $0.8 million and $66,000 of the discount to interest expense during the fiscal years ended June 30, 2014, May 31, 2013 and the one month ended June 30, 2013.

	On July 30, 2012, the Company issued a $1.0 million convertible promissory note (the “2012 Hohenplan Note”) to Hohenplan Privatstiftung. The Company determined that the terms of the 2012 Hohenplan Note contained a down round provision under which the conversion price could be decreased as a result of future equity offerings. Accordingly, the conversion feature was accounted for as a derivative liability and discount on note payable. On February 5, 2013, the Company closed a private placement of 705,882 shares of common stock at a purchase price of $8.50 per share, from certain of the initial investors in the Company. As a result, the conversion price of the 2012 Hohenplan Note was adjusted from $15.00 to $8.50. The fair value of the discount on the 2012 Hohenplan Note was $34,000 and $0 as of May 31, 2013 and June 30, 2013, respectively, resulting in an unrealized gain of approximately $0.3 million and $29,000 during the fiscal year ended May 31, 2013 and the one month ended June 30, 2013, respectively. The Company determined the fair value of the discount using the Black-Scholes option pricing model. The Company amortized approximately $0.3 million and $25,000 of the discount to interest expense during the fiscal year ended May 31, 2013 and the one month ended June 30, 2013, respectively.

	In connection with the issuance of the 2012 Hohenplan Note, the Company incurred $0.2 million of debt issuance costs related to the issuance to a broker of 12,500 shares of the Company’s common stock with a value of $161,000, and warrants to purchase 8,333 shares of the Company’s common stock at an exercise price of $15.00 per share, with a value of $49,000. The warrants expire on July 30, 2015. The shares issued to the broker were valued using the closing market price of the Company’s common stock on the OTCQB on the debt issuance date, which was July 30, 2012. The Company valued the warrants using the Black-Scholes valuation model with a volatility based on the historical closing price of common stock of industry peers. During the fiscal year ended May 31, 2013 and the one month ended June 30, 2013, the Company amortized approximately $0.3 million and $4,000, respectively, of the capitalized debt issuance costs to interest expense.

	In August 2013, the Company issued 100,002 Units, each consisting 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 “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.

	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 376,685 Units, raising net cash 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 at the time of issuance. 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. Effective as of April 1, 2014, the Company agreed to exchange 222,224 outstanding shares of its Series A Preferred Stock for the issuance of 1,388,898 shares of common stock. After the exchange, the Company had 254,463 shares of Series A Preferred Stock outstanding with an aggregate redemption amount of $6.4 million as of June 30, 2014.

	For the fiscal year ended June 30, 2014, the Company recognized total interest expense of $1.8 million related to the Series A Preferred Stock, which includes accretion of discount and issuance cost of $0.6 million for the fiscal year ended June 30, 2014.

	The following is a schedule by year of future principal payments required under the Credit Facility and the redemption of the Series A Preferred Stock described above as of June 30, 2014:

	(in thousands)
	Fiscal Years Ending June 30,
2015		$	—
2016			26,800
2017			—
2018			—
2019			6,362
Total			33,162
Discount			(1,561	)
Total, net value		$	31,601

Earnings_Per_Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	11. 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:

	(dollars in thousands, except per share amounts)		Fiscal Year Ended									One Month Ended
			30-Jun-14			31-May-13			31-May-12			30-Jun-13
	Net loss (numerator):
	Net loss attributable to Red
	Mountain Resources, Inc.—basic		$	(9,508	)	$	(12,202	)	$	(12,432	)	$	(631	)
	Weighted average shares (denominator):
	Weighted average shares—basic			13,626			10,133			7,378			12,691
	Weighted average shares—diluted (1) (2)			13,626			10,133			7,378			12,691
	Loss per share:
	Basic		$	(0.70	)	$	(1.20	)	$	(1.69	)	$	(0.05	)
	Diluted		$	(0.70	)	$	(1.20	)	$	(1.69	)	$	(0.05	)

		-1	Warrants to purchase approximately 1,349,051, 361,842 and 461,842 shares of the Company’s common stock were excluded from this calculation because they were anti-dilutive during the fiscal years ended June 30, 2014 and May 31, 2013 and the one month ended June 30, 2013.

		-2	Warrants to purchase approximately 161,759 shares of the Company’s common stock and 4,530 shares payable for director compensation were excluded from this calculation because they were anti-dilutive during the fiscal year ended May 31, 2012.

Equity

Equity	12 Months Ended
Equity	Jun. 30, 2014
Equity [Abstract]	'
Equity	'
	12. Equity

	As of June 30, 2014, the Company was authorized to issue (i) 50,000,000 shares of common stock, par value $0.00001 per share, of which 14,857,488 shares were issued and outstanding, and (ii) 100,000,000 shares of preferred stock, par value $0.0001 per share, of which 254,463 shares of Series A Preferred Stock were outstanding.

	On March 22, 2011, the Company entered into a Plan of Reorganization and Share Exchange Agreement, as amended on June 17, 2011 and June 20, 2011 (the “Share Exchange Agreement”), with Black Rock Capital, LLC, an entity wholly-owned by The StoneStreet Group, Inc. (“StoneStreet”). Alan W. Barksdale, the Company’s current president, chief executive officer and chairman of the board, was the president and the sole member of Black Rock Capital, LLC and the sole owner and the president of StoneStreet. On June 22, 2011, pursuant to the Share Exchange Agreement, the Company issued 2,700,000 shares of common stock to StoneStreet in exchange for 100% of the interests in Black Rock Capital, LLC. Concurrently with the closing, the Company retired 22,500,000 shares of common stock for no additional consideration.

	On June 22, 2011, Mr. Barksdale and StoneStreet entered into a lock-up agreement with the Company with respect to 1,800,000 shares of common stock then held by StoneStreet. On September 12, 2011, StoneStreet assigned 700,000 shares subject to the lock-up agreement to several third parties after receiving the consent from the Company to release it from the lockup restrictions with respect to such shares. In connection with the assignment, the transferees agreed to have 10,000 shares of common stock cancelled in exchange for the Company releasing the shares from the lockup restrictions.

	Beginning in March 2011, the Company commenced a private placement of its shares of common stock at an offering price of $10.00 per share, which terminated in November 2011. Through November 2011, the Company sold 1,620,600 shares of its common stock raising gross proceeds of $16.2 million, of which 1,013,600 shares of common stock were issued and $10.0 million was received subsequent to closing of the reverse merger with Black Rock in June 2011. Offering expenses for the private placement during the fiscal year ended May 31, 2012 totaled $3.7 million, consisting of $738,302 paid in cash and the issuance of 31,313 shares of the Company’s common stock and warrants to purchase 89,250 shares of common stock for commissions paid to brokers that participated in the transaction. The warrants were exercisable until April 30, 2014 and had an exercise price of $12.00 per share. On the date of issuance, the shares of common stock were valued at $171,250 and the warrants were valued at $555,504. Management determined the fair value of the shares consistent with the private placement value. Management determined the fair value of the warrants based upon the Black-Scholes option model with a volatility based on the historical closing price of common stock of industry peers, remaining term until April 30, 2014 and the closing price of the Company’s common stock on the OTCBB on the date of issuance. The range for volatility and remaining term was 83% to 94% and 2.3 to 2.7 years, respectively.

	In connection with the private placement, on July 20, 2011 and September 12, 2011, the Company granted three investors each warrants to purchase an additional $3.0 million worth of shares of the Company’s common stock. If exercised, the shares would be sold to the investor at a price equal to the lesser of (i) $11.00 per share or (ii) the average closing price of the Company’s common stock during the period from five days prior to the investor exercising its right to purchase the shares and ending five days after such exercise. The Company accounts for the warrants as a derivative liability since the final exercise price is contingent upon market prices. Changes in fair value are recorded as unrealized gain on warrant liability in the Company’s Consolidated Statements of Operations. The Company recorded $2.2 million of issuance costs representing the grant date fair value. Management determined the fair value of the warrants 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 range for volatility and remaining term was 93% to 94% and 0.3 years to 0.45 years, respectively.

	On December 21, 2011, one investor exercised its right and purchased an aggregate of 272,727 shares of common stock at $11.00 per share raising gross proceeds of $3.0 million. The Company incurred cash and non-cash offering costs and broker commissions of $300,000 and $245,729, respectively. During February, March, and April of 2012, the other two investors (and their assignees) exercised a portion of their rights and purchased 431,082 shares of common stock at $11.00 per share raising gross proceeds of $4.7 million. At May 31, 2012, 13,636 of those shares had not yet been issued and 114,372 warrants expired unexercised. In connection with the exercises by the remaining investors (and their assignees) of their rights, the Company issued warrants to purchase an aggregate of 42,509 shares of common stock as a portion of commissions paid to the brokers that participated in the initial private placement. The warrants expired on April 30, 2014 and had an exercise price of $12.00 per share. Management determined the fair value based on the same methodology as the warrants issued to investors discussed above. The volatility and remaining term was 77% and two years, respectively.

	In November 2011, the Company issued 20,000 shares of its common stock to a broker as payment for a fee related to obtaining the $4.0 million loan from the Lenders. On the date of issuance, the shares of common stock were valued at $318,000 based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	On December 30, 2011, the Company entered into a consulting agreement with St. Bernard Financial Services, Inc. In connection with the agreement, the Company paid the consultants $100,000 in cash and issued them 10,000 shares of common stock. On the date of issuance, the shares of common stock were valued at $152,000 based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	During the fiscal years ended May 31, 2013 and 2012, the Company issued an aggregate of 1,959,548 and 480,396 shares, respectively, of common stock and paid an aggregate of $0 and $287,532 in cash, respectively, to certain shareholders of Cross Border as consideration for the purchase of an aggregate of 9,490,342 and 2,701,261 shares, respectively, of Cross Border’s common stock. The aggregate value of the common stock issued during the fiscal years ended May 31, 2013 and 2012 was $18.6 million and $4.8 million, respectively. Management determined the fair value based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	During the fiscal year ended May 31, 2013, the Company entered into debenture purchase agreements with holders of Series 2009A Debentures (the “2009A Debentures”) and holders of Series 2009B Debentures (the “2009B Debentures”) of O&G Leasing, LLC (“O&G”) pursuant to which the holders agreed to sell an aggregate of $3.8 million and $2.4 million principal amount of 2009A Debentures and 2009B Debentures, respectively, plus any accrued and unpaid interest, in exchange for the issuance of an aggregate of 569,329 shares of the Company’s common stock. The 2009A Debentures and 2009B Debentures are recorded as debentures – held to maturity on the Company’s Consolidated Balance Sheet. On the date of issuance, the shares of common stock were valued at $4.8 million based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	On February 5, 2013, the Company accepted subscriptions in a private placement for the purchase of an aggregate of 705,882 shares of common stock at a purchase price of $8.50 per share, for net proceeds to the Company of $5.5 million. On the date of issuance, the shares of common stock were valued at $6.0 million based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	On February 28, 2013, the Company entered into letter agreements with two creditors of Pure Energy Group, Inc. (“Pure Energy”), the predecessor to Cross Border. Pursuant to a plan of reorganization for Pure Energy approved by the United States Bankruptcy Court, the creditors were entitled to receive an aggregate of $1.3 million in fees for their claims from the future net revenues of Cross Border. Pursuant to the letter agreements, Cross Border paid half of the fees in cash, and the Company issued an aggregate of 74,585 shares of common stock to the creditors for payment of the other half of the fees. On the date of issuance, the shares of common stock were valued at $626,517 based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	On May 3, 2013, the Company closed a private placement for 352,941 shares of common stock at a purchase price of $8.50 per share, raising net proceeds of $2.8 million, pursuant to subscription agreements with certain of the initial investors in the Company. On May 3, 2013, the Company also issued (i) 25,000 shares of common stock to a broker as compensation for broker services provided in connection with a private placement of the Company’s common stock in February 2013; and (ii) an aggregate of 25,996 shares of common stock to certain consultants as compensation for consulting services provided to the Company. On the date of these issuances, the shares of common stock were valued at $3.4 million based on the closing price of the Company’s common stock on the OTCBB on the date of issuance.

	During 2014, the Company entered into a Debenture Purchase Agreement with a holder of 2009A Debentures and 2009B Debentures for the purchase of an aggregate of $1.1 million principal amount of 2009A Debentures and 2009B 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.

Income_Taxes

Income Taxes	12 Months Ended
Income Taxes	Jun. 30, 2014
Income Taxes	'
Income Taxes	'
	13. Income Taxes

	Income tax expense differs from the statutory amounts as follows:

		Fiscal Year Ended									One Month Ended
	(dollars in thousands)	30-Jun-14			31-May-13			31-May-12			30-Jun-13
	Income taxes at U.S. statutory rate	$	(3,044	)	$	(4,149	)	$	(4,227	)	$	(215	)
	Deferred state income tax expense		(184	)		(268	)		(318	)		(4	)
	Change in tax status		(311	)		—			530			—
	Permanent differences		1,217			626			269			—
	Change in valuation allowance		2,366			3,791			3,746			219
	Total tax expense	$	44		$	—		$	—		$	—

	Deferred taxes are provided for the temporary differences between the financial reporting bases and the tax bases of our assets and liabilities. The temporary differences that give rise to deferred tax assets and liabilities were as follows:

	(dollars in thousands)	30-Jun-14			31-May-13			30-Jun-13
	Deferred tax assets and liabilities:
	Net operating loss carryforwards	$	19,879		$	15,978		$	16,254
	Oil and natural gas properties		(9,367	)		(9,706	)		(11,830	)
	Derivatives		32			—			—
	Bad debt		—			8			1,001
	Capitalized transaction costs		528			472			480
	Environmental liabilities		788			768			783
	Equity in earnings from Cross Border		—			(13	)		(13	)
	Conversion of preferred stock		—			—			—
	Other		—			—			—
	Gross deferred tax assets		11,860			7,507			6,675
	Valuation allowance		(11,901	)		(7,507	)		(6,675	)
	Net deferred taxes	$	(41	)	$	—		$	—

	At June 30, 2014, the Company had approximately $32.2 million of pre-tax net operating loss carryforwards (“NOLs”). These carryforwards begin to expire in 2030. Due to the change in control of Cross Border on January 28, 2013, the Company’s ability to utilize the NOLs of Cross Border will be subject to limitations under applicable tax laws.

	The Company continually assesses both positive and negative evidence to determine whether it is more likely than not that deferred tax assets can be realized prior to their expiration. Management monitors Company-specific, oil and natural gas industry and worldwide economic factors and assesses the likelihood that the Company’s NOLs and other deferred tax attributes in the United States, state, and local tax jurisdictions will be utilized prior to their expiration. The Company establishes a valuation allowance to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized. At June 30, 2014, the Company had a valuation allowance of $11.9 million related to its deferred tax assets.

	As of June 30, 2014, the Company had no unrecognized tax benefits. Black Rock Capital, LLC’s tax returns for the years ended December 31, 2011 – 2009 and stub period ended June 30, 2011, the Company’s tax returns for the fiscal years ended May 31, 2013 and 2012, stub period ended May 31, 2011, and the fiscal years ended January 31, 2011 and 2010, and Cross Border’s tax returns for the years ended December 31, 2013 – 2009, are open to examination by the major taxing jurisdictions to which the Company is subject.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2014
Commitments And Contingencies	'
Commitments and Contingencies	'
	14. Commitments and Contingencies

	Litigation

	On May 4, 2011, Clifton M. (Marty) Bloodworth filed a lawsuit in the State District Court of Midland County, Texas, against Doral West Corp. d/b/a Doral Energy Corp. and Everett Willard Gray II. Mr. Bloodworth alleges that Mr. Gray, as CEO 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 West Corp, common law fraud, civil conspiracy breach of fiduciary duty, and violation of the Texas Deceptive Trade Practices-Consumer Protection Act. Mr. Bloodworth is seeking damages of approximately $280,000. Mr. Gray 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 representing a fee and out-of-pocket expenses 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. Cross Border disputed that any Transaction was consummated and that KeyBanc was entitled to any fees or out-of-pocket expenses. Cross Border filed a complaint seeking (i) a declaration that it was not liable to KeyBanc for any amounts in connection with the Engagement Letter, (ii) attorneys’ fees, and (iii) costs of suit. KeyBanc filed a counterclaim seeking (i) compensatory damages, (ii) interest, (iii) expenses and court costs, and (iv) reasonable and necessary attorneys’ fees. The matter was originally filed in the 44th 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. On August 26, 2014, Cross Border entered into a settlement agreement with KeyBanc, settling a lawsuit between the parties. In connection with the settlement, Cross Border agreed to pay KeyBanc $900,000 in three equal installments on or before August 28, 2014, October 31, 2014 and December 31, 2014, and the parties agreed to mutual releases of liability related to the Engagement Letter. The Company has accrued the settlement as of June 30, 2014.

	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 June 30, 2014, 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 has incurred $33,000 in costs and expects to incur the remaining expenditures during our fiscal 2015.

	Leases

	As of June 30, 2014, the Company rented various office spaces in Dallas, Texas; Midland, Texas; and Lafayette, Louisiana 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 2 months to 27 months. The following is a schedule by year of future minimum rental payments required under these lease arrangements as of June 30, 2014:

	(in thousands)
	Fiscal Years Ending June 30,
	2015	$	218
	2016		181
	2017		45
	2018		—
	2019		—
	Total	$	444

	Rent expense under the Company’s lease arrangements amounted to approximately $0.3 million, $0.3 million, $0.2 million, and $24,000 for the fiscal years ended June 30, 2014, May 31, 2013 and 2012, and the one month ended June 30, 2013, respectively.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	15. Related Party Transactions

	On September 15, 2011, the Company borrowed $100,000, interest free, from StoneStreet Operating Company, LLC (“StoneStreet Operating”) for working capital purposes, and the loan was repaid in full on September 26, 2011. On October 19, 2011, the Company borrowed an additional $180,000, interest free, from StoneStreet Operating for working capital purposes, and the loan was repaid in full on October 26, 2011. Mr. Barksdale is the president and manager of StoneStreet Operating.

	StoneStreet Operating served as the operator for the Frost Bank, Resendez and La Duquesa properties from June 1, 2011 to December 31, 2011. Mr. Barksdale is the president and manager of StoneStreet Operating. For the fiscal year ended May 31, 2012, StoneStreet Operating paid the Company $146,166 of oil and natural gas revenues attributable to the properties, and the Company paid StoneStreet Operating $14,550 for acting as operator of the properties.

	During the fiscal year ended May 31, 2012, the Company also paid StoneStreet Operating approximately $90,796 as reimbursement for operating and corporate expenses incurred by StoneStreet Operating on behalf of the Company and $20,260 as payment for condensate proceeds that were payable to StoneStreet Operating. At May 31, 2012, $11,629 was payable to StoneStreet Operating for reimbursement of expenses.

	On January 28, 2011, Black Rock funded a $25,000 one year certificate of deposit in order for StoneStreet Operating to secure an additional letter of credit for the benefit of the Railroad Commission of Texas. Subsequent to funding, Black Rock assigned the certificate of deposit to StoneStreet Operating. The certificate of deposit was liquidated on November 2, 2011 and the proceeds of $25,141 were returned to Black Rock.

	On December 10, 2012, the Company entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Bamco. Mr. Barksdale was the receiver for the receivership estate of Bamco. Pursuant to the Asset Purchase Agreement, the Company agreed to acquire working interests and claims and causes of action in or relating to certain oil and gas exploration projects in Duval, Johnson and Zapata Counties in Texas (the “Bamco Properties”). On December 10, 2012, pursuant to the Asset Purchase Agreement, the Company issued 237,500 shares of common stock to the indenture trustee of certain debentures of Bamco, and executed a waiver and release of a claim against the receivership estate of Bamco for a $2.7 million note receivable that the Company deemed uncollectible in 2011.

	The Company entered into an arrangement with R.K. Ford and Associates and Cabal Energy relating to the operations of the Good Chief State #1 and Big Brave State #1 wells, and a contract for drilling services with Western Drilling on the Company’s Madera 24-2H well. 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 fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013, the Company paid an aggregate of $2.9 million, $0.2 million, $5.0 million and $2,100, respectively, to these entities for engineering, drilling and completion services.

	In addition, the Company was a party to a lease agreement with R.K. Ford and Associates, pursuant to which the Company leased office space in Midland, Texas. During the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013, the Company paid $2,100, $25,200, $25,200 and $2,000, respectively, to R.K. Ford and Associates pursuant to the lease agreement. The lease agreement expired in July 2013.

	The Company entered into a master service agreement with Integrity Well Services LLC (“Integrity”) pursuant to which Integrity provides well services to the Company. This entity is partially owned by Tommy Folsom, Executive Vice President and Director of Exploration and Production for RMR Operating, LLC, a subsidiary of the Company, and formerly the Executive Vice President and Director of Exploration and Production for the Company. During fiscal year ended June 30, 2014, the Company paid approximately $313,000 to Integrity pursuant to the master service agreement.

	Enerstar Resources O&G, LLC (“Enerstar”), a company owned by Mr. Folsom, owns an overriding royalty interest in the Company’s Madera Prospect. During the fiscal years ended June 30, 2014, May 31, 2013 and May 31, 2012, the Company paid royalties of approximately $15,000, $8,700, and $6,800 respectively, to Enerstar.

Subsequent_Events

Subsequent Events	12 Months Ended
Subsequent Events	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	16. Subsequent Events

	Litigation settlement

	On August 26, 2014, Cross Border entered into a settlement agreement with KeyBanc, settling a lawsuit between the parties. In connection with the settlement, Cross Border agreed to pay KeyBanc $900,000 in three equal installments on or before August 28, 2014, October 31, 2014 and December 31, 2014, and the parties agreed to mutual releases of liability related to the Engagement Letter. The Company has accrued the settlement as of June 30, 2014.

Supplemental_Information_Relat

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Unaudited)	12 Months Ended
	Jun. 30, 2014
Supplemental Information Relating To Oil And Natural Gas Producing Activities	'
Supplemental Information Relating to Oil And Natural Gas Producing Activities (Unaudited)	'
	17. Supplemental Information Relating to Oil And Natural Gas Producing Activities (Unaudited)

	Costs incurred in oil and natural gas property acquisition, exploration and development

	Set forth below is certain information regarding the costs incurred for oil and natural gas property acquisition, development and exploration activities:

			Fiscal Year Ended											One Month Ended
	(in thousands)		30-Jun-14				31-May-13				31-May-12			30-Jun-13
	Property acquisition costs:
	Unproved properties		$	—			$	17,132			$	2,786		$	—
	Proved properties			—				32,395				1,045			—
	Exploration costs			1,193				849				265			30
	Development costs (1)			17,101				7,134				15,929			731
	Total costs incurred		$	18,294			$	57,510			$	20,025		$	761


		-1	For the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013, development costs included $0.5 million, $0.3 million, $0.6 million and $20,000, respectively, in non-cash asset retirement obligations.

	Results of operations for oil and natural gas producing activities

	Set forth below is certain information regarding the results of operations for oil and natural gas producing activities:

			Fiscal Year Ended											One Month Ended
	(in thousands)		30-Jun-14				31-May-13				31-May-12			30-Jun-13
	Revenues		$	22,498			$	8,982			$	6,325		$	1,716
	Production costs			(5,340	)			(2,305	)			(1,346	)		(128	)
	Exploration expense			(1,193	)			(438	)			(265	)		(30	)
	Impairment			(487	)			(411	)			(1,051	)		—
	Depletion			(9,020	)			(4,515	)			(4,039	)		(665	)
	Income tax expense			—				—				—			—
	Results of operations		$	6,458			$	1,313			$	(376	)	$	893

	Proved reserves

	Cawley, Gillespie & Associates, Inc., independent petroleum engineers, estimated 100% of the Company’s proved reserve information as of July 1, 2014. The estimate of proved reserves and related valuations were prepared in accordance with the provisions of ASC 932, Extractive Activities.

	Estimates of proved reserves are inherently imprecise and are continually subject to revision based on production history, results of additional exploration and development, price changes and other factors. All of the Company’s estimated oil and natural gas reserves are attributable to properties within the United States. As the Company’s natural gas liquids are not a significant component of their reserves they have been combined with the oil reserves below. A summary of the Company’s changes in quantities of proved oil and natural gas reserves for the fiscal years ended June 30, 2014 (including the one month ended June 30, 2013), May 31, 2013 and 2012:

			Oil (MBbls)				Natural Gas (MMcf)				Total (MBoe)
	31-May-11			844				10,450				2,586
	Acquisitions			287				307				338
	Revisions in previous estimates			(95	)			(3,423	)			(666	)
	Production			(36	)			(843	)			(176	)
	31-May-12			1,000				6,491				2,082
	Acquisitions			1,550				5,723				2,504
	Reserves sold			(27	)			(180	)			(57	)
	Revisions in previous estimates			(120	)			(4,028	)			(791	)
	Production			(83	)			(646	)			(191	)
	31-May-13			2,320				7,360				3,547
	Extensions and discoveries			711				1,398				944
	Revisions in previous estimates			163				(823	)			26
	Production			(233	)			(987	)			(398	)
	30-Jun-14			2,961				6,948				4,119

	Proved Developed Reserves
	31-May-12			158				4,365				886
	31-May-13			1,016				5,320				1,902
	30-Jun-14			1,314				4,688				2,095
	Proved Undeveloped Reserves
	31-May-12			842				2,126				1,196
	31-May-13			1,304				2,041				1,644
	30-Jun-14			1,648				2,261				2,025

At June 30, 2014, the Company’s estimated proved reserves were 4.1 MMBoe, an increase of 16% compared to 3.5 MMBoe at May 31, 2013. During fiscal 2014, the Company added estimated proved reserves of 0.9 MMBoe through extensions and discoveries, which were offset by production of 0.4 MMBoe and minimal upward revisions in previous estimates.

At May 31, 2013, the Company’s estimated proved reserves were 3.5 MMBoe, an increase of 70% compared to 2.1 MMBoe at May 31, 2012. During fiscal 2013, the Company added estimated proved reserves of 2.5 MMBoe through acquisitions, which were offset by production of 0.2 MMBoe and downward revisions in previous estimates of 0.8 MMBoe. The downward revisions were primarily comprised of 0.2 MMBoe due to a revision to the proved undeveloped reserves at Cowden and 0.5 MMBoe due to a revision to the proved developed behind the pipe reserves at Frost Bank and Peal Ranch.

Standardized measure of discounted future net cash flows relating to proved reserves

Future cash inflows were computed by applying the average of the closing price on the first day of each month for the 12-month period prior to June 30, 2014 to estimated future production. For oil and natural gas liquid volumes, the average NYMEX spot price is $100.27 per Bbl. For natural gas volumes, the average Henry Hub spot price is $4.10 per MMBtu. Prices are adjusted for basis differentials, hydrocarbon quality, and transportation, processing, and gathering fees resulting in an oil price of $92.83 per barrel, natural gas liquids price of $31.36 per barrel, and natural gas price of $5.06 per Mcf. The adjusted oil, natural gas liquids and natural gas prices are held constant throughout the lives of the properties. Future production and development costs are computed by estimating the expenditures to be incurred in developing and producing the proved oil and natural gas reserves at year end, based on year-end costs and assuming continuation of existing economic conditions.

Future income tax expenses are calculated by applying appropriate year-end tax rates to future pre-tax net cash flows relating to proved oil and natural gas reserves, less the tax basis of properties involved. Future income tax expenses give effect to permanent differences, tax credits and loss carryforwards relating to the proved oil and natural gas reserves. Future net cash flows are discounted at a rate of 10% annually to derive the standardized measure of discounted future net cash flows. This calculation procedure does not necessarily result in an estimate of the fair market value of the Company’s oil and natural gas properties.

The standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves were as follows:

		Fiscal Year Ended May 31,
(in thousands)		30-Jun-14				31-May-13				31-May-12
Future cash inflows		$	294,350			$	229,688			$	117,238
Future production costs			(76,574	)			(58,869	)			(27,017	)
Future development costs			(42,357	)			(37,279	)			(27,457	)
Future income tax expense			(23,306	)			(23,027	)			(19,578	)
Future net cash flows			152,113				110,513				43,186
10% annual discount for estimated timing of cash flows			(73,113	)			(53,377	)			(28,485	)
Standardized measure of discounted future net cash flows		$	79,000			$	57,136			$	14,701

Changes in standardized measure of discounted future net cash flows

The changes in the standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves are as follows:

		Fiscal Year Ended
(in thousands)		30-Jun-14				31-May-13				31-May-12
Balance, beginning of period		$	57,136			$	14,701			$	35,311
Net change in sales and transfer prices and in production (lifting) costs related to future production			8,407				7,183				(1,004	)
Changes in estimated future development costs			18,870				16,461				(20,727	)
Sales and transfers of oil and natural gas produced during the period			(17,879	)			(6,574	)			(4,979	)
Sale of reserves			—				(1,087	)			—
Net change due to extensions and discoveries			21,859				—				—
Net change due to purchase of minerals in place			—				47,739				4,352
Net change due to revisions in quantity estimates			601				(15,082	)			(8,553	)
Previously estimated development costs incurred during the period			(16,755	)			(7,120	)			—
Accretion of discount			6,763				2,677				5,389
Other			106				(3,340	)			2,339
Net change in income taxes			108				1,578				2,573
Balance, end of period		$	79,000			$	57,136			$	14,701

Quarterly_Financial_Data_Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
Quarterly Financial Data (Unaudited)	Jun. 30, 2014
Quarterly Financial Data	'
Quarterly Financial Data (unaudited)	'
	18. Quarterly Financial Data (unaudited)

	The following are summarized quarterly financial data for the fiscal years ended June 30, 2014 and May 31, 2013:

			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr
			(in thousands, except per share data)
	For the fiscal year ended June 30, 2014:
	Oil and natural gas sales		$	5,774		$	4,467		$	5,270		$	6,987
	Income (loss) from operations			182			(1,322	)		(824	)		(799	)
	Net loss before income taxes			(1,129	)		(2,108	)		(1,790	)		(3,924	)
	Net loss attributable to Red Mountain Resources, Inc.			(1,275	)		(2,205	)		(1,984	)		(4,044	)
	Basic and diluted net loss per common share		$	(0.09	)	$	(0.16	)	$	(0.15	)	$	(0.39	)
	For the fiscal year ended May 31, 2013(1):
	Oil and natural gas sales		$	1,346		$	1,108		$	2,463		$	4,065
	Loss from operations			(3,221	)		(1,209	)		(1,400	)		(933	)
	Net loss			(3,709	)		(3,238	)		(3,048	)		(1,525	)
	Net loss attributable to Red Mountain Resources, Inc.			(3,709	)		(3,238	)		(3,392	)		(1,863	)
	Basic and diluted net loss per common share		$	(0.42	)	$	(0.36	)	$	(0.33	)	$	(0.12	)


		-1	Financial information for the three months ended September 30, 2012, December 31, 2012 and March 31, 2013 (collectively, the “Calendar Quarters”) has not been included for the following reasons: (i) the three months ended August 31, 2012, November 30, 2012 and February 28, 2013 (collectively, the “Fiscal Quarters”) provide a meaningful comparison for the three months ended September 30, 2013, December 31, 2013 and March 31, 2014; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for Calendar Quarters were presented in lieu of results for the Fiscal Quarters; and (iii) it was not practicable or cost justified to prepare this information.

Summary_of_Significant_Account

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2014
Summary Of Significant Accounting Policies Policies	'
Consolidation, basis of presentation and significant estimates	'
	Consolidation, basis of presentation and significant estimates

	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company and its wholly and majority-owned subsidiaries. Intercompany accounts and transactions are eliminated. In preparing the accompanying financial statements, management has made certain estimates and assumptions that affect reported amounts in the financial statements and disclosures of contingencies. Significant assumptions are required in the valuation of proved oil and natural gas reserves, which affect the Company’s estimate of depletion expense as well as its impairment analyses. Significant assumptions also are required in the Company’s estimation of accrued liability, derivatives, environmental remediation liability and asset retirement obligations. Changes in facts and circumstances may result in revised estimates and actual results may differ from these estimates.
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.
Noncontrolling Interests	'
	Noncontrolling interests

	Subsequent to January 28, 2013, the Company accounts for the noncontrolling interest in Cross Border Resources, Inc. (“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. Whether or not 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 Consolidated Balance Sheets and Consolidated Statements of Operations; however, the Company’s share of the earnings or losses of the investee company is reflected in the Company’s Consolidated Statements of Operations and the Company’s carrying value in an equity method investee company is reflected in the Company’s 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.
Debentures - held to maturity	'
	Debentures - held to maturity

	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 $2.1 million, $1.5 million and $1.5 million, plus accrued interest in arrears as of June 30, 2014, May 31, 2013 and June 30, 2013, 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 June 30, 2014 and 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 recorded impairment on debentures of $0.5 million during the fiscal year ended May 31, 2013. The Company did not record an impairment during the fiscal year ended June 30, 2014 or the one month ended June 30, 2013.

	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.
Cash and cash equivalents	'
	Cash and cash equivalents

	The Company considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents. At times, the amount of cash and cash equivalents on deposit in financial institutions exceeds federally insured limits. The Company monitors the soundness of the financial institutions and believes the Company’s risk is negligible.
Restricted cash	'
	Restricted cash

	Restricted cash is classified as long-term based on the terms of the agreement. Restricted cash at June 30, 2014, May 31, 2013 and June 30, 2013 represents cash held in U.S. banks as collateral for standby letters of credit issued in connection with the Company’s oil and natural gas production activities.
Financial instruments	'
	Financial instruments

	The carrying amounts of financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities and long-term debt, approximate fair value as of June 30, 2014, May 31, 2013 and June 30, 2013.
Oil and natural gas properties	'
	Oil and natural gas properties

	Effective June 1, 2011, the Company follows the successful efforts method of accounting for its oil and natural gas producing activities. The change in accounting principle has been applied retroactively to prior periods. Costs to acquire mineral interests in oil and natural gas properties and to drill and equip development wells and related asset retirement costs are capitalized. Costs to drill exploratory wells are capitalized pending determination of whether the wells have proved reserves. If the Company determines that the wells do not have proved reserves, the costs are charged to expense. There were no exploratory wells capitalized pending determination of whether the wells have proved reserves at June 30, 2014, May 31, 2013 and June 30, 2013. Geological and geophysical costs, including seismic studies and costs of carrying and retaining unproved properties, are charged to expense as incurred. The Company capitalizes interest on expenditures for significant exploration and development projects that last more than six months while activities are in progress to bring the assets to their intended use. Through June 30, 2014, the Company had capitalized no interest costs because its exploration and development projects generally lasted less than six months. Costs incurred to maintain wells and related equipment are charged to expense as incurred.

	On the sale or retirement of a complete unit of a proved property, the cost and related accumulated depreciation, depletion and amortization are eliminated from the property accounts, and the resultant gain or loss is recognized. On the retirement or sale of a partial unit of proved property, the cost is charged to accumulated depreciation, depletion and amortization, with a resulting gain or loss recognized in income.

	Capitalized amounts attributable to proved oil and natural gas properties are depleted by the unit-of-production method over proved reserves using the unit conversion ratio of six Mcf of gas to one barrel of oil equivalent (“Boe”). The ratio of six Mcf of natural gas to one Boe is based upon energy equivalency, rather than price equivalency. Given current price differentials, the price for a Boe for natural gas differs significantly from the price for a barrel of oil.

	It is common for operators of oil and natural gas properties to request that joint interest owners pay for large expenditures, typically for drilling new wells, in advance of the work commencing. This right to call for cash advances is typically found in the operating agreement that joint interest owners in a property adopt. The Company records these advance payments in prepaid and other current assets in its property account and releases this account when the actual expenditure is later billed to it by the operator.

	On the sale of an entire interest in an unproved property for cash or cash equivalents, gain or loss on the sale is recognized, taking into consideration the amount of any recorded impairment if the property had been assessed individually. If a partial interest in an unproved property is sold, the amount received is treated as a reduction of the cost of the interest retained.
Impairment of long-lived assets	'
	Impairment of long-lived assets

	The Company evaluates its long-lived assets for potential impairment in their carrying values whenever events or changes in circumstances indicate such impairment may have occurred. Oil and natural gas properties are evaluated for potential impairment by field. Other properties are evaluated for impairment on a specific asset basis or in groups of similar assets, as applicable. An impairment on proved properties is recognized when the estimated undiscounted future net cash flows of an asset are less than its carrying value. If an impairment occurs, the carrying value of the impaired asset is reduced to its estimated fair value, which is generally estimated using a discounted cash flow approach. If the results of an assessment indicate that the properties are impaired, the amount of the impairment is added to the capitalized costs to be amortized. During fiscal years ended June 30, 2014 and May 31, 2012, the Company recognized impairments on its proved properties of $0.3 million and $1.0 million, respectively. The Company did not recognize an impairment on its proved properties during the fiscal year ended May 31, 2013 or the one month ended June 30, 2013.


	Unproved oil and natural gas properties do not have producing properties. As reserves are proved through the successful completion of exploratory wells, the cost is transferred to proved properties. The cost of the remaining unproved basis is periodically evaluated by management to assess whether the value of a property has diminished. To do this assessment, management considers estimated potential reserves and future net revenues from an independent expert, the Company’s history in exploring the area, the Company’s future drilling plans per its capital drilling program prepared by the Company’s reservoir engineers and operations management and other factors associated with the area. Impairment is taken on the unproved property cost if it is determined that the costs are not likely to be recoverable. The valuation is subjective and requires management to make estimates and assumptions which, with the passage of time, may prove to be materially different from actual results. During fiscal years ended June 30, 2014, May 31, 2013 and 2012, the Company recognized impairments on its unproved properties of $0.2 million, $0.4 million and $1.0 million, respectively. The Company did not recognize an impairment on its unproved properties during the one month ended June 30, 2013.

Revenue and accounts receivable	'
	Revenue and accounts receivable

	The Company recognizes revenue for its production when the quantities are delivered to, or collected by, the purchaser. Prices for such production are generally defined in sales contracts and are readily determinable based on certain publicly available indices. All transportation costs are included in lease operating expense.

	Accounts receivable — oil and natural gas sales consist of uncollateralized accrued revenues due under normal trade terms, generally requiring payment within 30 to 60 days of production. Accounts receivable — joint interest consist of amounts owed from interest owners of the Company’s operated wells. No interest is charged on past-due balances. Payments made on all accounts receivable are applied to the earliest unpaid items. The Company reviews accounts receivable periodically and reduces the carrying amount by a valuation allowance that reflects its best estimate of the amount that may not be collectible. No valuation allowance was recognized as of June 30, 2014, May 31, 2013 and June 30, 2013.
Dependence on major customers	'
	Dependence on major customers

	For the fiscal year ended June 30, 2014, approximately 63% of the Company’s revenues were attributable to sales of oil to four customers, and approximately 18% of the Company’s revenues were received from one operator pursuant to a joint operating agreement. For the fiscal year ended May 31, 2013, approximately 85% of the Company’s revenues were attributable to sales of oil to two customers, and approximately 11% of the Company’s revenues were received from one operator pursuant to a joint operating agreement. For the fiscal year ended May 31, 2012, approximately 50% of the Company’s revenues were attributable to sales of oil to one customer, and approximately 41% of the Company’s revenues were received from one operator pursuant to a joint operating agreement. The Company believes that there are potential alternative purchasers and that it may be necessary to establish relationships with new purchasers. However, there can be no assurance that the Company can establish such relationships and that those relationships will result in an increased number of purchasers. Although the Company is exposed to a concentration of credit risk, the Company believes that all of its purchasers are creditworthy. The Company had no bad debt for the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013.
Other property	'
	Other property

	Furniture, fixtures and equipment are carried at cost. Depreciation of furniture, fixtures and equipment is provided using the straight-line method over estimated useful lives ranging from three to ten years. Gain or loss on retirement or sale or other disposition of assets is included in income in the period of disposition.
Income taxes	'
	Income taxes

	The Company is subject to U.S. federal income taxes along with state income taxes in Texas, New Mexico and Arkansas. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying Consolidated Balance Sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Interest and penalties associated with unrecognized tax benefits are classified as additional income taxes in the Company’s Consolidated Statements of Operations. The Company accrues interest and penalties, if any, related to unrecognized tax benefits as a component of income tax expense.

	Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using the tax rate in effect for the year in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the year of the enacted tax rate change. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will not be realized.
Asset retirement obligations	'
	Asset retirement obligations

	Asset retirement obligations (“AROs”) associated with the retirement of tangible long-lived assets are recognized as liabilities with an increase to the carrying amounts of the related long-lived assets in the period incurred. The cost of the tangible asset, including the asset retirement cost, is depreciated over the useful life of the asset. AROs are recorded at estimated fair value, measured by reference to the expected future cash outflows required to satisfy the retirement obligations discounted at the Company’s credit-adjusted risk-free interest rate. Accretion expense is recognized over time as the discounted liabilities are accreted to their expected settlement value. If estimated future costs of AROs change, an adjustment is recorded to both the ARO and the long-lived asset. Revisions to estimated AROs can result from changes in retirement cost estimates, revisions to estimated inflation rates and changes in the estimated timing of abandonment.
Earnings per common share	'
	Earnings per common 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.
Derivative financial instruments	'
	Derivative financial instruments

	All derivative instruments are recorded on the Company’s Consolidated Balance Sheet at fair value. Historically, the Company has not designated its derivative instruments as cash-flow hedges. Although the Company has not designated its derivative instruments as cash-flow hedges, it uses those instruments to reduce its exposure to fluctuations in commodity prices related to its oil and natural gas production. Unrealized gains and losses, at fair value, are included on the Company’s 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 derivative contracts and realized gains and losses are recorded in earnings as they occur and included in other income (expense) on the Company’s Consolidated Statements of Operations.
Recent Accounting Pronouncements	'
	Recent accounting pronouncements

	In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is currently evaluating the impact of the adoption of ASU 2014-09 on its consolidated financial statements and have not yet determined the method by which it will adopt the standard in 2017.

Investment_in_Cross_Border_Res1

Investment in Cross Border Resources, Inc. (Tables)	12 Months Ended
Investment in Cross Border Resources, Inc. (Tables)	Jun. 30, 2014
Investment In Cross Border Resources Inc. Tables	'
Schedule of Cross Border Resources, Inc. financial information	'
	The following represents Cross Border’s summarized unaudited financial information as of and for the twelve months ended March 31, 2012:

	(in thousands)	31-Mar-12
	Assets:
	Total current assets	$	4,059
	Noncurrent assets		31,878
	Total assets	$	35,937
	Liabilities:
	Total current liabilities	$	5,466
	Total long-term liabilities		11,824
	Equity		18,647
	Total liabilities and equity	$	35,937
	Revenues	$	9,320
	Income from operations	$	1,041
	Net income	$	21

Acquisitions_Tables

Acquisitions (Tables)	12 Months Ended
Acquisitions (Tables)	Jun. 30, 2014
Acquisitions Tables	'
Pro Forma results of operations	'
	Pro forma results of operations

	The following table presents the unaudited pro forma results of operations as though the acquisitions of Cross Border and Bamco had occurred as of June 1, 2011 (in thousands, except per share amounts):

		Fiscal Year Ended May 31,
		2013			2012
	Revenues	$	17,118		$	18,101
	Loss from operations		(13,821	)		(3,711	)
	Net loss		(18,709	)		(9,088	)
	Basic and diluted net loss per common share	$	(1.80	)	$	(0.90	)
Purchase price allocation	'
	The Company recorded the initial step acquisition as follows:

	(in thousands)
	Purchase Price:
	Fair value of 2,054 shares of the Company’s common stock exchanged for Cross Border common stock	$	18,282
	Cash acquisition of Cross Border common stock		3,492
	Acquisition of Cross Border note payable and accrued interest		697
	Total consideration paid	$	22,471

	Add: Estimated Fair Value of Liabilities Assumed:
	Accounts payable	$	4,794
	Asset retirement obligations		3,329
	Environmental liability		2,100
	Line of credit		8,750
	Creditors payable		1,353
	Accrued expense and other liabilities		114
	Amount attributable to liabilities assumed		20,440
	Noncontrolling interest		6,359
	Total purchase price	$	49,270

	Estimated Fair Value of Net Assets Acquired:
	Cash	$	279
	Accounts receivable		2,815
	Prepaid and other current assets		451
	Derivative assets		35
	Other property and equipment		52
	Proved oil and gas properties		29,376
	Unproved oil and gas properties		16,208
	Other long-term assets		54
	Amount attributable to net assets acquired	$	49,270

	The Company recorded the purchase price as follows:

	(in thousands)
	Purchase Price:
	Fair value of 238 shares of the Company’s common stock issued	$	2,232
	Asset retirement obligations assumed		403
	Post-closing adjustments		84
	Total purchase price	$	2,719

	Estimated Fair Value of Net Assets Acquired:
	Proved oil and gas properties	$	1,909
	Unproved oil and gas properties		810
	Amount attributable to net assets acquired	$	2,719

Oil_and_Natural_Gas_Properties1

Oil and Natural Gas Properties and Other Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2014
Oil And Natural Gas Properties And Other Property And Equipment Tables	'
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)	30-Jun-14			31-May-13			30-Jun-13
	Oil and natural gas properties:
	Proved	$	82,362		$	63,891		$	64,539
	Unproved		19,109			19,539			19,622
	Total oil and natural gas properties		101,471			83,430			84,161
	Less accumulated depletion and impairment		(19,138	)		(9,140	)		(9,788	)
	Net oil and natural gas properties capitalized costs	$	82,333		$	74,290		$	74,373
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)	30-Jun-14			31-May-13			30-Jun-13
	Other property and equipment	$	1,196		$	1,026		$	1,061
	Less accumulated depreciation and amortization		(359	)		(184	)		(199	)
	Net property and equipment	$	837		$	842		$	862

Asset_Retirement_Obligations_T

Asset Retirement Obligations (Tables)	12 Months Ended
Asset Retirement Obligations (Tables)	Jun. 30, 2014
Asset Retirement Obligations Tables	'
Schedule Of Changes in Asset Retirement Obligation	'
	The following table presents the balance and activity of the Company’s ARO for the periods indicated:

		Fiscal Year Ended						One Month Ended
	(in thousands)	30-Jun-14			31-May-13			30-Jun-13
	Asset retirement obligations at beginning of period	$	5,020		$	836		$	4,979
	Liabilities incurred		75			22			19
	Liabilities settled		(2	)		(53	)		—
	Acquisitions		—			3,728			—
	Accretion expense		267			150			22
	Revisions in estimated liabilities		385			296			—
	Asset retirement obligations at end of period	$	5,745		$	4,979		$	5,020
	Less: current portion		214			228			228
	Long-term portion	$	5,531		$	4,751		$	4,792

Derivatives_Tables

Derivatives (Tables)

12 Months Ended

Jun. 30, 2014

Derivatives Tables

Schedule of commodity derivative positions

At June 30, 2014, the Company had the following commodity derivatives positions outstanding:

Commodity and Time Period

Contract Type

Volume Transacted

Contract Price

Crude Oil

July 1, 2014—August 31, 2014 Collar—Minimum

Option

1,437 Bbls/month

80.00/Bbl

July 1, 2014—August 31, 2014 Collar—Maximum

Option

1,437 Bbls/month

100.50/Bbl

July 1, 2014—November 30, 2014

Swap

2,000 Bbls/month

93.50/Bbl

July 1, 2014—December 31, 2014

Put

1,979-8,330 Bbls/month

$95.00 - $100.00/Bbl

At May 31, 2013 and June 30, 2013, the Company had the following commodity derivatives positions outstanding:

Commodity and Time Period

Contract Type

Volume Transacted

Contract Price

Crude Oil

June 1, 2013—August 1, 2014 Collar - Minimum

Option

437-1,936 Bbls/month

80.00/Bbl

June 1, 2013—August 1, 2014 Collar - Maximum

Option

437-1,936 Bbls/month

100.50/Bbl

June 1, 2013—November 1, 2014

Swap

2,000 Bbls/month

93.50/Bbl

June 1, 2013—February 28, 2014

Swap

1,000 Bbls/month

106.50/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 June 30, 2014, May 31, 2013 and June 30, 2013 (in thousands):

Balance Sheet Location

Fair Value

June 30,

May 31,

June 30,

2014

2013

Derivatives not designated as hedging instruments

Commodity derivatives

Commodities derivative asset

265

132

Commodity derivatives

Commodities derivative liabilities

(121

)

(34

)

—

Schedule of change in fair value of commodity derivatives

The following table summarizes the change in the fair value of the Company’s commodity derivatives (in thousands):

Income Statement Location

Fiscal Year Ended

One Month Ended

30-Jun-14

30-May-13

30-May-12

30-Jun-13

Derivatives not designated as hedging instruments

Commodity derivatives

Gain (loss) on derivatives

(544

)

—

(104

)

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2014
Fair Value Measurements Tables	'
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 June 30, 2014, May 31, 2013 and June 30, 2013:

		Fair Value Measurements at Reporting Date Using
	(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities			Significant or Other Observable Inputs			Significant Unobservable Inputs			Fair Value at June 30, 2014
	(in thousands)	(Level 1)			(Level 2)			(Level 3)			Fair Value at June 30, 2014
	Assets:
	Commodities derivatives	$	—		$	37		$	—		$	37
	Oil and gas properties impairment (nonrecurring)		—			—			(487	)		(487	)
	Total	$	—		$	37		$	(487	)	$	(450	)

	Liabilities:
	Asset retirement obligations (non-recurring)	$	—		$	—		$	(5,745	)	$	(5,745	)
	Commodities derivative liability		—			(121	)		—			(121	)
	Environmental remediation liability		—			—			(2,067	)		(2,067	)
	Total	$	—		$	(121	)	$	(7,812	)	$	(7,933	)

		Fair Value Measurements at Reporting Date Using
	(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities			Significant or Other Observable Inputs			Significant Unobservable Inputs			Fair Value at May 31, 2013
	(in thousands)	(Level 1)			(Level 2)			(Level 3)			Fair Value at May 31, 2013
	Assets:
	Commodities derivatives	$	—		$	265		$	—		$	265
	Oil and gas properties impairment (nonrecurring)		—			—			(411	)		(411	)
	Total	$	—		$	265		$	(411	)	$	(146	)

	Liabilities:
	Asset retirement obligations (non-recurring)	$	—		$	—		$	(4,979	)	$	(4,979	)
	Commodities derivative liability		—			(34	)		—			(34	)
	Environmental remediation liability		—			—			(2,088	)		(2,088	)
	Total	$	—		$	(34	)	$	(7,067	)	$	(7,101	)

		Fair Value Measurements at Reporting Date Using
	(in thousands)	Quoted Prices in Active Markets for Identical Assets or Liabilities			Significant or Other Observable Inputs			Significant Unobservable Inputs			Fair Value at June 30, 2013
	(in thousands)	(Level 1)			(Level 2)			(Level 3)			Fair Value at June 30, 2013
	Assets:
	Commodities derivative asset	$	—		$	132		$	—		$	132
	Total	$	—		$	132		$	—		$	132

	Liabilities:
	Asset retirement obligations (non-recurring)	$	—		$	—		$	(5,020	)	$	(5,020	)
	Environmental remediation liability		—			—			(2,088	)		(2,088	)
	Total	$	—		$	—		$	(7,108	)	$	(7,108	)

Summary of changes to fair value measurements using Level 3 inputs	'
	The following is a summary of changes to fair value measurements using Level 3 inputs during the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013:

	(in thousands)	Environmental Liability
	Balance, May 31, 2012		—
	Acquisitions		(2,100	)
	Settlement of liabilities		12
	Acquired debentures		—
	Unrealized gain (loss) recorded in earnings		—
	Balance, May 31, 2013		(2,088	)
	Acquisitions		—
	Settlement of liabilities		—
	Acquired debentures		—
	Unrealized gain (loss) recorded in earnings		—
	Balance, June 30, 2013		(2,088	)
	Acquisitions		—
	Settlement of liabilities		21
	Acquired debentures		—
	Unrealized gain (loss) recorded in earnings		—
	Balance, June 30, 2014	$	(2,067	)

Debt_Tables

Debt (Tables)	12 Months Ended
Debt (Tables)	Jun. 30, 2014
Debt Tables	'
Schedule of debt	'
	As of the dates indicated, the Company’s debt consisted of the following:

	(in thousands)	30-Jun-14			31-May-13		30-Jun-13
	Credit Facility	$	26,800		$	19,800	$	19,800
	Subordinated Note		—			500		500
	Mandatorily redeemable preferred stock, net of discount of $1,561, $0, and $0, respectively		4,801			—		—
	Convertible promissory notes, net of discount of $0, $442 and $352		—			3,308		3,398
	Total debt		31,601			23,608		23,698
	Less: short-term portion		—			3,808		3,898
	Long-term debt	$	31,601		$	19,800	$	19,800
Schedule by fiscal year of future principal payments of debt	'
	The following is a schedule by year of future principal payments required under the Credit Facility and the redemption of the Series A Preferred Stock described above as of June 30, 2014:

	(in thousands)
	Fiscal Years Ending June 30,
	2015	$	—
	2016		26,800
	2017		—
	2018		—
	2019		6,362
	Total		33,162
	Discount		(1,561	)
	Total, net value	$	31,601

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2014
Earnings Per Share Tables	'
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:

	(dollars in thousands, except per share amounts)		Fiscal Year Ended									One Month Ended
			30-Jun-14			31-May-13			31-May-12			30-Jun-13
	Net loss (numerator):
	Net loss attributable to Red
	Mountain Resources, Inc.—basic		$	(9,508	)	$	(12,202	)	$	(12,432	)	$	(631	)
	Weighted average shares (denominator):
	Weighted average shares—basic			13,626			10,133			7,378			12,691
	Weighted average shares—diluted (1) (2)			13,626			10,133			7,378			12,691
	Loss per share:
	Basic		$	(0.70	)	$	(1.20	)	$	(1.69	)	$	(0.05	)
	Diluted		$	(0.70	)	$	(1.20	)	$	(1.69	)	$	(0.05	)

		-1	Warrants to purchase approximately 1,349,051, 361,842 and 461,842 shares of the Company’s common stock were excluded from this calculation because they were anti-dilutive during the fiscal years ended June 30, 2014 and May 31, 2013 and the one month ended June 30, 2013.

		-2	Warrants to purchase approximately 161,759 shares of the Company’s common stock and 4,530 shares payable for director compensation were excluded from this calculation because they were anti-dilutive during the fiscal year ended May 31, 2012.

Income_Taxes_Tables

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Jun. 30, 2014
Income Taxes Tables	'
Schedule of income tax expense differs from statutory amounts	'
	Income tax expense differs from the statutory amounts as follows:

		Fiscal Year Ended									One Month Ended
	(dollars in thousands)	30-Jun-14			31-May-13			31-May-12			30-Jun-13
	Income taxes at U.S. statutory rate	$	(3,044	)	$	(4,149	)	$	(4,227	)	$	(215	)
	Deferred state income tax expense		(184	)		(268	)		(318	)		(4	)
	Change in tax status		(311	)		—			530			—
	Permanent differences		1,217			626			269			—
	Change in valuation allowance		2,366			3,791			3,746			219
	Total tax expense	$	44		$	—		$	—		$	—
Schedule of deferred tax assets, net	'
	Deferred taxes are provided for the temporary differences between the financial reporting bases and the tax bases of our assets and liabilities. The temporary differences that give rise to deferred tax assets and liabilities were as follows:

	(dollars in thousands)	30-Jun-14			31-May-13			30-Jun-13
	Deferred tax assets and liabilities:
	Net operating loss carryforwards	$	19,879		$	15,978		$	16,254
	Oil and natural gas properties		(9,367	)		(9,706	)		(11,830	)
	Derivatives		32			—			—
	Bad debt		—			8			1,001
	Capitalized transaction costs		528			472			480
	Environmental liabilities		788			768			783
	Equity in earnings from Cross Border		—			(13	)		(13	)
	Conversion of preferred stock		—			—			—
	Other		—			—			—
	Gross deferred tax assets		11,860			7,507			6,675
	Valuation allowance		(11,901	)		(7,507	)		(6,675	)
	Net deferred taxes	$	(41	)	$	—		$	—

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2014
Commitments And Contingencies Tables	'
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 June 30, 2014:

	(in thousands)
	Fiscal Years Ending June 30,
	2015	$	218
	2016		181
	2017		45
	2018		—
	2019		—
	Total	$	444

Supplemental_Information_Relat1

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Tables)	12 Months Ended
	Jun. 30, 2014
Supplemental Information Relating To Oil And Natural Gas Producing Activities Tables	'
Schedule of costs incurred in the acquisition and development of oil and natural gas assets	'
	Set forth below is certain information regarding the costs incurred for oil and natural gas property acquisition, development and exploration activities:

			Fiscal Year Ended									One Month Ended
	(in thousands)		30-Jun-14			31-May-13			31-May-12			30-Jun-13
	Property acquisition costs:
	Unproved properties		$	—		$	17,132		$	2,786		$	—
	Proved properties			—			32,395			1,045			—
	Exploration costs			1,193			849			265			30
	Development costs (1)			17,101			7,134			15,929			731
	Total costs incurred		$	18,294		$	57,510		$	20,025		$	761

		-1	For the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013, development costs included $0.5 million, $0.3 million, $0.6 million and $20,000, respectively, in non-cash asset retirement obligations.
Summary of results of oil and natural gas producing activities (excluding corporate overhead and interest costs)	'
	Set forth below is certain information regarding the results of operations for oil and natural gas producing activities:

			Fiscal Year Ended									One Month Ended
	(in thousands)		30-Jun-14			31-May-13			31-May-12			30-Jun-13
	Revenues		$	22,498		$	8,982		$	6,325		$	1,716
	Production costs			(5,340	)		(2,305	)		(1,346	)		(128	)
	Exploration expense			(1,193	)		(438	)		(265	)		(30	)
	Impairment			(487	)		(411	)		(1,051	)		—
	Depletion			(9,020	)		(4,515	)		(4,039	)		(665	)
	Income tax expense			—			—			—			—
	Results of operations		$	6,458		$	1,313		$	(376	)	$	893
Schedule of changes in quantities of proved oil and natural gas reseves	'
	A summary of the Company’s changes in quantities of proved oil and natural gas reserves for the fiscal years ended June 30, 2014 (including the one month ended June 30, 2013), May 31, 2013 and 2012:

			Oil (MBbls)			Natural Gas (MMcf)			Total (MBoe)
	31-May-11			844			10,450			2,586
	Acquisitions			287			307			338
	Revisions in previous estimates			(95	)		(3,423	)		(666	)
	Production			(36	)		(843	)		(176	)
	31-May-12			1,000			6,491			2,082
	Acquisitions			1,550			5,723			2,504
	Reserves sold			(27	)		(180	)		(57	)
	Revisions in previous estimates			(120	)		(4,028	)		(791	)
	Production			(83	)		(646	)		(191	)
	31-May-13			2,320			7,360			3,547
	Extensions and discoveries			711			1,398			944
	Revisions in previous estimates			163			(823	)		26
	Production			(233	)		(987	)		(398	)
	30-Jun-14			2,961			6,948			4,119

	Proved Developed Reserves
	31-May-12			158			4,365			886
	31-May-13			1,016			5,320			1,902
	30-Jun-14			1,314			4,688			2,095
	Proved Undeveloped Reserves
	31-May-12			842			2,126			1,196
	31-May-13			1,304			2,041			1,644
	30-Jun-14			1,648			2,261			2,025
Standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves	'
	The standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves were as follows:

			Fiscal Year Ended May 31,
	(in thousands)		30-Jun-14			31-May-13			31-May-12
	Future cash inflows		$	294,350		$	229,688		$	117,238
	Future production costs			(76,574	)		(58,869	)		(27,017	)
	Future development costs			(42,357	)		(37,279	)		(27,457	)
	Future income tax expense			(23,306	)		(23,027	)		(19,578	)
	Future net cash flows			152,113			110,513			43,186
	10% annual discount for estimated timing of cash flows			(73,113	)		(53,377	)		(28,485	)
	Standardized measure of discounted future net cash flows		$	79,000		$	57,136		$	14,701

Schedule of changes in standardized measure of discounted future net cash flows	'
	The changes in the standardized measure of discounted future net cash flows relating to proved oil and natural gas reserves are as follows:

			Fiscal Year Ended
	(in thousands)		30-Jun-14			31-May-13			31-May-12
	Balance, beginning of period		$	57,136		$	14,701		$	35,311
	Net change in sales and transfer prices and in production (lifting) costs related to future production			8,407			7,183			(1,004	)
	Changes in estimated future development costs			18,870			16,461			(20,727	)
	Sales and transfers of oil and natural gas produced during the period			(17,879	)		(6,574	)		(4,979	)
	Sale of reserves			—			(1,087	)		—
	Net change due to extensions and discoveries			21,859			—			—
	Net change due to purchase of minerals in place			—			47,739			4,352
	Net change due to revisions in quantity estimates			601			(15,082	)		(8,553	)
	Previously estimated development costs incurred during the period			(16,755	)		(7,120	)		—
	Accretion of discount			6,763			2,677			5,389
	Other			106			(3,340	)		2,339
	Net change in income taxes			108			1,578			2,573
	Balance, end of period		$	79,000		$	57,136		$	14,701

Quarterly_Financial_Data_Unaud1

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
Quarterly Financial Data (Unaudited) (Tables)	Jun. 30, 2014
Quarterly Financial Data Tables	'
Summary of quarterly financial data	'
	The following are summarized quarterly financial data for the fiscal years ended June 30, 2014 and May 31, 2013:

			1st Qtr			2nd Qtr			3rd Qtr			4th Qtr
			(in thousands, except per share data)
	For the fiscal year ended June 30, 2014:
	Oil and natural gas sales		$	5,774		$	4,467		$	5,270		$	6,987
	Income (loss) from operations			182			(1,322	)		(824	)		(799	)
	Net loss before income taxes			(1,129	)		(2,108	)		(1,790	)		(3,924	)
	Net loss attributable to Red Mountain Resources, Inc.			(1,275	)		(2,205	)		(1,984	)		(4,044	)
	Basic and diluted net loss per common share		$	(0.09	)	$	(0.16	)	$	(0.15	)	$	(0.39	)
	For the fiscal year ended May 31, 2013(1):
	Oil and natural gas sales		$	1,346		$	1,108		$	2,463		$	4,065
	Loss from operations			(3,221	)		(1,209	)		(1,400	)		(933	)
	Net loss			(3,709	)		(3,238	)		(3,048	)		(1,525	)
	Net loss attributable to Red Mountain Resources, Inc.			(3,709	)		(3,238	)		(3,392	)		(1,863	)
	Basic and diluted net loss per common share		$	(0.42	)	$	(0.36	)	$	(0.33	)	$	(0.12	)


		-1	Financial information for the three months ended September 30, 2012, December 31, 2012 and March 31, 2013 (collectively, the “Calendar Quarters”) has not been included for the following reasons: (i) the three months ended August 31, 2012, November 30, 2012 and February 28, 2013 (collectively, the “Fiscal Quarters”) provide a meaningful comparison for the three months ended September 30, 2013, December 31, 2013 and March 31, 2014; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for Calendar Quarters were presented in lieu of results for the Fiscal Quarters; and (iii) it was not practicable or cost justified to prepare this information.

Organization_Details_Narrative

Organization (Details Narrative)	Jun. 30, 2014	Jun. 30, 2013	31-May-13	Jun. 30, 2014
				Red Mountain Resources, Inc., a Florida corporation [Member]
Reverse stock split exchange ratio	'	'	'	'

				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.
Common stock, authorized shares	50,000,000	50,000,000	50,000,000	50,000,000
Common stock, outstanding shares	14,857,488	12,692,000	12,596,000	13,400,000

Liquidity_Details_Narrative

Liquidity (Details Narrative) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

31-May-13

Feb. 28, 2013

Nov. 30, 2012

Aug. 31, 2012

Jun. 30, 2014

31-May-13

31-May-12

Liquidity Details Narrative

Net income (loss) attributable to Red Mountain Resources, Inc.

($631)

($4,044)

($1,984)

($2,205)

($1,275)

($1,863)

[1]

($3,392)

[1]

($3,238)

[1]

($3,709)

[1]

($9,508)

($12,202)

($12,432)

Total outstanding debt

31,600

Debt credit facility

19,800

26,800

19,800

26,800

19,800

Redeemable preferred stock, net of a discount

4,801

Discount on mandatorily redeemable preferred stock

1,561

Working Capital Deficit

$2,476

[1]

Financial information for the three months ended September 30, 2012, December 31, 2012 and March 31, 2013 (collectively, the "Calendar Quarters") has not been included for the following reasons: (i) the three months ended August 31, 2012, November 30, 2012 and February 28, 2013 (collectively, the "Fiscal Quarters") provide a meaningful comparison for the three months ended September 30, 2013, December 31, 2013 and March 31, 2014; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for Calendar Quarters were presented in lieu of results for the Fiscal Quarters; and (iii) it was not practicable or cost justified to prepare this information.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Details Narrative) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Non-accretable difference of debentures	$1,500	$2,100	$1,500	'
Impairment on oil and gas properties	'	487	411	1,051
Unproved Properties [Member]	'	'	'	'
Impairment on oil and gas properties	'	200	400	1,000
Proved Properties [Member]	'	'	'	'
Impairment on oil and gas properties	'	$503	'	$1,000
Major Customers [Member]	'	'	'	'
Revenue Concentration percentage	'	63.00%	85.00%	50.00%
Number of customers/operators	'	'Four customers	'Two customers	'One customer
Operator [Member]	'	'	'	'
Revenue Concentration percentage	'	18.00%	11.00%	41.00%
Number of customers/operators	'	'One operator	'One operator	'One operator

Investment_in_Cross_Border_Res2

Investment in Cross Border Resources, Inc. (Details Narrative) (USD $)	1 Months Ended	12 Months Ended				0 Months Ended	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12	Aug. 31, 2013	23-May-11	31-May-13	31-May-12	Jun. 30, 2014	31-May-11	Apr. 23, 2011
						Investments in Cross Border Resources, Inc. [Member]	Investments in Cross Border Resources, Inc. [Member]	Investments in Cross Border Resources, Inc. [Member]	Investments in Cross Border Resources, Inc. [Member]	Investments in Cross Border Resources, Inc. [Member]	Investments in Cross Border Resources, Inc. [Member]
						N
Units of Cross Border Resources purchased	'	'	'	'	'	2,136,164	'	'	'	'	'
Shares of common stock of Cross Border Resources purchased	'	'	'	'	'	'	'	2,701,261	'	'	'
Cash paid to acquire investment in Cross Border Resources	'	'	'	$288,000	'	$3,204,000	'	$287,532	'	'	'
Number of shares of common stock in each unit	'	'	'	'	'	1	'	'	'	'	'
Number of warrants to purchase common stock in each unit	'	'	'	'	'	1	'	'	'	'	'
Warrant exercise price	'	'	'	'	$22.50	'	$2.25	$2.25	$2.25	'	$2.25
Ownership percentage of Cross Border's outstanding common stock	'	'	'	'	'	'	'	30.00%	'	13.20%	'
Fair value of Cross Border's stock	'	'	'	'	'	'	'	9,000,000	'	4,800,000	'
Issuance of shares for investment in Cross Border Resources, Inc., shares	'	'	'	'	'	'	'	4,803,957	'	'	'
Equity method investment in Cross Border Resources, Inc.	'	'	'	'	'	'	'	7,641,000	'	'	'
Equity share of net assets	'	'	'	'	'	'	'	5,200,000	'	'	'
Depletion	'	'	'	'	'	'	346,818	243,921	'	'	'
Net losses in equity investment realized in operations	'	'	'	'	'	'	$14,390	$71,998	'	'	'
Common stock purchase warrants outstanding	'	'	'	'	'	'	2,502,831	'	2,502,831	'	'

Investment_in_Cross_Border_Res3

Investment in Cross Border Resources, Inc. (Details) (Investments in Cross Border Resources, Inc. [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	31-May-12
Investments in Cross Border Resources, Inc. [Member]	'
Assets:	'
Total current assets	$4,059
Noncurrent assets	31,878
Total assets	35,937
Liabilities:	'
Total current liabilities	5,466
Total long-term liabilities	11,824
Equity	18,647
Total liabilities and equity	35,937
Revenues	9,320
Income on operations	1,041
Net income	$21

Acquisitions_Details_Narrative

Acquisitions (Details Narrative) (USD $)	1 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2012
	N
East Ranch Prospect [Member]	'
Acquisitions of properties	'
Number of acres purchased	547
Number of net working interest acres acquired	547
Cash disbursed for acquisition	$421
Working interest percentage	100.00%
Revenue interest percentage	80.00%
West Ranch Prospect [Member]	'
Acquisitions of properties	'
Number of acres purchased	989
Number of net working interest acres acquired	989
Cash disbursed for acquisition	$677
Working interest percentage	100.00%
Revenue interest percentage	80.00%

Acquisitions_Details_Narrative1

Acquisitions (Details Narrative 1) (Cross Border [Member], USD $)	0 Months Ended		12 Months Ended
	Apr. 26, 2013	Jan. 28, 2013	31-May-13	Jan. 01, 2013	31-May-12
Cross Border [Member]	'	'	'	'	'
Cross Border Resources, Inc.	'	'	'	'	'
Shares acquired in business acquisition	57,530	5,091,210	'	'	'
Shares issued in acquisition	287,653	1,018,242	'	'	'
Ownership percentage of Cross Border's outstanding common stock	83.00%	78.00%	'	47.00%	'
Acquisition date fair value of Cross Border's outstanding common stock	$460,245	$21,300,000	($6,359,000)	'	'
Acquisition date carrying value of Cross Border's outstanding common stock	'	20,600,000	'	'	'
Adjustment to accumualted deficit for change in Cross Border's reporting period	'	'	2,000,000	'	'
Transaction expense	'	'	$900	'	$600

Acquisitions_Details_Narrative2

Acquisitions (Details Narrative 2) (Bamco [Member], USD $)	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 10, 2012
Bamco [Member]	'
Bamco	'
Shares issued in acquisition	2,375,000
Waiver and release of receivable acquired in acquisition	$2,700

Acquisitions_Details

Acquisitions (Details) (Pro Forma [Member], USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	31-May-13	31-May-12
Pro Forma [Member]	'	'
Revenues	$17,118	$18,101
Loss from operations	-13,821	-3,711
Net loss	($18,709)	($9,088)
Basic and diluted net loss per common share	($1.80)	($0.90)

Acquisitions_Details_1

Acquisitions (Details 1) (USD $)	31-May-13	Apr. 26, 2013	Jan. 28, 2013
Cross Border [Member]	'	'	'
Purchase Price:	'	'	'
Fair value of Red Mountain shares exchanged/issued	$18,282,000	'	'
Cash acquisition of Cross Border common stock	3,492,000	'	'
Acquisition of Cross Border note payable and accrued interest	697,000	'	'
Total consideration paid	22,471,000	'	'
Add: Estimated Fair Value of Liabilities Assumed:	'	'	'
Accounts payable	4,794,000	'	'
Asset retirement obligations	3,329,000	'	'
Environmental liability	2,100,000	'	'
Line of credit	8,750,000	'	'
Creditors payable	1,353,000	'	'
Accrued expense and other liabilities	114,000	'	'
Amount attributable to liabilities assumed	20,440,000	'	'
Noncontrolling interest	6,359,000	-460,245	-21,300,000
Total purchase price	49,270,000	'	'
Estimated Fair Value of Net Assets Acquired:	'	'	'
Cash	279,000	'	'
Accounts receivable	2,815,000	'	'
Prepaid and other current assets	451,000	'	'
Derivative assets	35,000	'	'
Other property and equipment	52,000	'	'
Proven oil and gas properties	29,376,000	'	'
Unproven oil and gas properties	16,208,000	'	'
Other long-term assets	54,000	'	'
Amount attributable to net assets acquired	49,270,000	'	'
Bamco [Member]	'	'	'
Purchase Price:	'	'	'
Fair value of Red Mountain shares exchanged/issued	2,232,000	'	'
Asset retirement obligations assumed	403,000	'	'
Post-closing adjustments	84,000	'	'
Total consideration paid	2,719,000	'	'
Estimated Fair Value of Net Assets Acquired:	'	'	'
Proven oil and gas properties	1,909,000	'	'
Unproven oil and gas properties	810,000	'	'
Amount attributable to net assets acquired	$2,719,000	'	'

Oil_and_Natural_Gas_Properties2

Oil and Natural Gas Properties and Other Property and Equipment (Details Narrative) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Acquisition costs of proved properties	$39,200	$39,000	$39,200	'
Exploratory well costs and additional development costs	25,300	39,600	21,900	'
Explorary drilling costs	30	1,193	849	265
Consideration received for cross conveyance agreement	'	255	'	'
Impairment on oil and gas properties	'	487	411	1,051
Write-off of unproved oil and natural gas properties due to expired lease	'	'	'	1,000
Proved Properties [Member]	'	'	'	'
Impairment on oil and gas properties	'	$503	'	$1,000

Oil_and_Natural_Gas_Properties3

Oil and Natural Gas Properties and Other Property and Equipment (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Oil and natural gas properties:	'	'	'
Proved	$82,362	$64,539	$63,891
Unproved	19,109	19,622	19,539
Total oil and natural gas properties	101,471	84,161	83,430
Less accumulated depletion and impairment	-19,138	-9,788	-9,140
Net oil and natural gas properties capitalized costs	$82,333	$74,373	$74,290

Oil_and_Natural_Gas_Properties4

Oil and Natural Gas Properties and Other Property and Equipment (Details 1) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Oil And Natural Gas Properties And Other Property And Equipment Details 1	'	'	'
Other property and equipment	$1,196	$1,061	$1,026
Less accumulated depreciation and amortization	-359	-199	-184
Net property and equipment	$837	$862	$842

Asset_Retirement_Obligations_D

Asset Retirement Obligations (Details) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]	'	'	'	'
Asset retirement obligations at beginning of period	$4,979	$5,020	$836	'
Liabilities incurred	19	75	22	'
Liabilities settled	'	-2	-54	'
Acquisitions	'	'	3,728	'
Accretion expense	22	267	150	44
Revisions in estimated liabilities	'	385	296	'
Asset retirement obligations at end of period	5,020	5,745	4,979	836
Less: current portion	228	214	228	'
Long-term portion	$4,792	$5,531	$4,751	'

Derivatives_Details

Derivatives (Details)	12 Months Ended
Derivatives (Details)	Jun. 30, 2014	31-May-13
Crude Oil Contract 1 [Member]	'	'
Derivative Time Period	'July 1, 2014 - August 31, 2014	'June 1, 2013 - August 1, 2014
Type	'Option	'Option
Volume transacted	'1,437 Bbls/month	'437-1,936B Bbls/month
Contract Price	80	80
Volume transacted - lower	1,437	437
Volume transacted - higher	'	1,936
Crude Oil Contract 2 [Member]	'	'
Derivative Time Period	'July 1, 2014 - August 31, 2014	'June 1, 2013 - August 1, 2014
Type	'Option	'Option
Volume transacted	'1,437 Bbls/month	'437-1,936B Bbls/month
Contract Price	100.5	100.5
Volume transacted - lower	1,437	437
Volume transacted - higher	'	1,936
Crude Oil Contract 3 [Member]	'	'
Derivative Time Period	'July 1, 2014 - November 30, 2014	'June 1, 2013 - November 1, 2014
Type	'Swap	'Swap
Volume transacted	'2,000 Bbls/month	'2,000 Bbls/month
Contract Price	93.5	93.5
Volume transacted - lower	2,000	2,000
Crude Oil Contract 4 [Member]	'	'
Derivative Time Period	'July 1, 2014 - December 31, 2014	'June 1, 2013 - February 28, 2014
Type	'Put	'Swap
Volume transacted	'1,979-2,574 Bbls/month	'1,000 Bbls/month
Contract Price	'	106.5
Volume transacted - lower	1,979	1,000
Volume transacted - higher	8,330	'
Crude Oil Contract 4 [Member] \| Lower Range [Member]	'	'
Contract Price	95	'
Crude Oil Contract 4 [Member] \| Upper Range [Member]	'	'
Contract Price	100	'

Derivatives_Details_1

Derivatives (Details 1) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Derivatives Details 1	'	'	'
Commodity derivative asset - fair value	$37	$132	$265
Commodity derivative liability - fair value	($121)	'	($34)

Derivatives_Details_2

Derivatives (Details 2) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Derivatives Details 2	'	'	'	'
Change in fair value of derivative liability	($105)	($216)	$215	'

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13	31-May-12
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13	31-May-12
Assets	'	'	'	'
Commodities derivatives	$37	$86	$190	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	-5,745	-5,020	-4,979	-836
Commodities derivative liability	-121	'	-34	'
Environmental remediation liability	'	-688	-688	'
Fair Value [Member]	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	37	'	265	'
Oil and gas properties impairment (nonrecurring)	-487	'	-411	'
Total	-450	'	-146	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	-5,745	'	-4,979	'
Commodities derivative liability	-121	'	-34	'
Environmental remediation liability	-2,067	'	-2,088	'
Total	-7,933	'	-7,101	'
Fair Value, Inputs, Level 1 [Member]	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	'	'	'	'
Oil and gas properties impairment (nonrecurring)	'	'	'	'
Total	'	'	'	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	'	'	'	'
Commodities derivative liability	'	'	'	'
Environmental remediation liability	'	'	'	'
Total	'	'	'	'
Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	37	132	265	'
Oil and gas properties impairment (nonrecurring)	'	'	'	'
Total	37	132	265	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	'	'	'	'
Commodities derivative liability	-121	'	-34	'
Environmental remediation liability	'	'	'	'
Total	-121	'	-34	'
Fair Value, Inputs, Level 3 [Member]	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	'	'	'	'
Oil and gas properties impairment (nonrecurring)	-487	'	-411	'
Total	-487	'	-411	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	-5,745	-5,020	-4,979	'
Commodities derivative liability	'	'	'	'
Environmental remediation liability	-2,067	-2,088	-2,088	'
Total	-7,812	-7,108	-7,067	'
Fair Value [Member]	'	'	'	'
Assets	'	'	'	'
Commodities derivatives	'	132	'	'
Total	'	132	'	'
Liabilities	'	'	'	'
Asset retirement obligations (non-recurring)	'	-5,020	'	'
Environmental remediation liability	'	-2,088	'	'
Total	'	($7,108)	'	'

Fair_Value_Measurements_Detail1

Fair Value Measurements (Details 1) (Environmental Liability [Member], USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13
Environmental Liability [Member]	'	'	'
Liabilities	'	'	'
Balance, beginning	($2,088)	($2,088)	'
Acquisitions	'	'	-2,100
Settlement of liabilities	'	21	12
Acquired debentures	'	'	'
Unrealized gain (loss) recorded in earnings	'	'	'
Balance, ending	($2,088)	($2,067)	($2,088)

Debt_Details_Narrative

Debt (Details Narrative) (Credit Facility [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Feb. 05, 2013
Lines of Credit (Credit facility and secured line)	'	'
Maximum borrowing capacity under line of credit	'	$100,000
Current borrowing base of line of credit	30,000	'
Interest rate description of line of credit	'	'

	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 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	26,800	'
Line of credit, remaining capacity	3,200	'
Letter of Credit [Member]	'	'
Lines of Credit (Credit facility and secured line)	'	'
Maximum borrowing capacity under line of credit	'	$2,000

Debt_Details_Narrative_1

Debt (Details Narrative 1) (USD $)

1 Months Ended

12 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Aug. 31, 2013

Jun. 30, 2013

Nov. 30, 2011

Jun. 30, 2014

31-May-13

31-May-12

3-May-13

Feb. 05, 2013

Nov. 30, 2011

Feb. 06, 2013

Jun. 30, 2014

Nov. 25, 2011

Jun. 30, 2013

Jun. 30, 2014

31-May-13

Aug. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

31-May-13

Feb. 05, 2013

Jul. 30, 2012

Private Placement [Member]

Subordinated Note [Member]

2011 Hohenplan Note [Member]

Note - Personalversorge [Member]

Note - SST [Member]

Convertible Promissory Notes Issued on November 25, 2011 [Member]

2012 Hohenplan Note [Member]

Notes Payable

Subordinated Note

$500,000

Interest rate

12.00%

Default interest rate description

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.

Default interest rate

18.00%

Debt face amount

1,000,000

1,500,000

250,000

1,000,000

Beneficial conversion feature

1,603,000

1,600,000

Amortized debt discount

66,000

400,000

800,000

25,000

300,000

Shares issued in period

642,857

352,941

705,882

1,013,600

1,620,600

Price per share sold

$10

$8.50

Conversion price of convertible debt, prior to adjustment

$15

Fair value of discount on notes payable

34,000

Unrealized gain on notes payable

29,000

300,000

Debt issuance costs

200,000

Issuance of shares for debt issuance costs

318,000

161,000

318,000

161,000

Issuance of shares for debt issuance costs, shares

20,000

12,500

Number of shares if warrants converted

8,333

Exercise price of warrants issued

$22.50

$15

Value of warrants issued

194,000

229,000

152,000

49,000

Amortization of debt issuance costs

$131,000

$1,449,000

$1,029,000

$1,350,000

$4,000

$300,000

Units sold in cancellation of convertible debt

100,002

Number of shares, per warrant

2.5

Exercise price, units

22.5

Debt_Details_Narrative_2

Debt (Details Narrative 2) (USD $)	0 Months Ended	1 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 31, 2013	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12	Jun. 30, 2014	Apr. 02, 2014
	N	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12	Series A Preferred Stock [Member]	Series A Preferred Stock [Member]
Units sold in period	376,685	'	'	'	'	'	'
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	$22.50	'	'	'	'	'	'
Exercise price, units	10	'	'	'	'	'	'
Warrant value	2,400	'	'	'	'	'	'
Volatility used for fair vaue	55.00%	'	'	'	'	'	'
Term used for fair vaue	'3 years	'	'	'	'	'	'
Series A preferred stock, redemption price per share	'	'	'	'	'	$25	'
Series A preferred stock, redemption value	'	'	'	'	'	11,900	'
Preferred stock gross proceeds and canceled debt amount	'	'	'	'	'	10,800	'
Preferred stock, shares outstanding	'	'	'	'	'	254,463	222,224
Common stock issued at conversion of preferred stock, shares	'	'	'	'	'	1,388,898	'
Redemption amount	'	'	'	'	'	6,400	'
Interest expense, preferred stock	'	'	'	'	'	1,800	'
Accretion of discount and amortization of issuance costs	'	$22	$267	$150	$44	$600	'

Debt_Details

Debt (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Debt Details	'	'	'
Credit Facility	$26,800	$19,800	$19,800
Subordinated Note	'	500	500
Mandatorily redeemable preferred stock, net of discount of $1,561, $0, and $0, respectively	4,801	'	'
Convertible notes payable, net of discount of $442 and $352	'	3,398	3,308
Total debt	31,601	23,698	23,608
Less: short-term portion	'	3,898	3,808
Long-term portion	$31,601	$19,800	$19,800

Debt_Details_1

Debt (Details 1) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Debt Maturing in Fiscal Year Ending June 30,	'	'	'
2015	'	'	'
2016	26,800	'	'
2017	'	'	'
2018	'	'	'
2019	6,362	'	'
Total	33,162	'	'
Discount	-1,561	'	'
Total debt	$31,601	$23,698	$23,608

Earnings_Per_Share_Details_Nar

Earnings Per Share (Details Narrative)	1 Months Ended	12 Months Ended
Earnings Per Share (Details Narrative)	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Director Shares Payable [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	'	'	'	4,530
Warrants [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	461,842	1,349,051	361,842	161,759

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

In Thousands, except Share data, unless otherwise specified

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

31-May-13

Feb. 28, 2013

Nov. 30, 2012

Aug. 31, 2012

Jun. 30, 2014

31-May-13

31-May-12

Net loss (numerator):

Net loss attributable to Red Mountain Resources, Inc - basic

($631)

($4,044)

($1,984)

($2,205)

($1,275)

($1,863)

[1]

($3,392)

[1]

($3,238)

[1]

($3,709)

[1]

($9,508)

($12,202)

($12,432)

Weighted average shares (denominator):

Weighted average shares - basic

12,691

13,626

10,133

7,378

Weighted average shares - diluted

12,691

[2],[3]

13,626

[2],[3]

10,133

[2],[3]

7,378

[2],[3]

Loss per share:

Basic

($0.05)

($0.70)

($1.20)

($1.69)

Diluted

($0.05)

($0.70)

($1.20)

($1.69)

[1]

[2]

Warrants to purchase approximately 1,349,051, 361,842 and 461,842 shares of the Company's common stock were excluded from this calculation because they were anti-dilutive during the fiscal years ended June 30, 2014 and May 31, 2013 and the one month ended June 30, 2013.

[3]

Warrants to purchase approximately 161,759 shares of the Company's common stock and 4,530 shares payable for director compensation were excluded from this calculation because they were anti-dilutive during the fiscal year ended May 31, 2012.

Equity_Details_Narrative

Equity (Details Narrative) (USD $)

0 Months Ended

1 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

9 Months Ended

12 Months Ended

0 Months Ended

2 Months Ended

3 Months Ended

2 Months Ended

Aug. 31, 2013

Feb. 28, 2013

Dec. 30, 2011

Aug. 31, 2013

Nov. 30, 2011

Jun. 30, 2014

31-May-13

31-May-12

Jun. 30, 2013

Sep. 12, 2011

Jun. 22, 2011

31-May-13

Jun. 30, 2014

31-May-13

31-May-12

3-May-13

Feb. 05, 2013

Nov. 30, 2011

31-May-12

Dec. 21, 2011

Sep. 12, 2011

Apr. 30, 2012

31-May-12

Sep. 12, 2011

Jun. 30, 2014

Apr. 02, 2014

2009 A Debentures [Member]

2009 B Debentures [Member]

Debentures [Member]

Private Placement Warrants [Member]

Warrants Issued in Conjunction with Share Rights Exercise [Member]

Private Placement [Member]

Stock Rights Agreement [Member]

Series A Preferred Stock [Member]

Lower Range [Member]

Upper Range [Member]

Lower Range [Member]

Upper Range [Member]

Common stock, shares authorized

50,000,000

Common stock, par value

$0.00

Common stock, issued

14,857,488

12,691,000

12,692,000

Common stock, outstanding

14,857,488

12,596,000

12,692,000

Preferred stock, shares authorized

100,000,000

Preferred stock, par value

$0.00

Preferred stock, shares outstanding

254,463

222,224

Lock-up agreement shares

1,800,000

Lock-up agreement shares assigned

700,000

Shares cancelled

10,000

Price per share sold

$10

$8.50

$11

Shares issued in period

642,857

352,941

705,882

1,013,600

1,620,600

2,727,272

431,082

Gross proceeds of share issuance

$3,600,000

$3,606,000

$7,190,000

$6,449,000

$2,800,000

$5,500,000

$10,000,000

$16,200,000

$3,000,000

$4,700,000

Total offering expenses

900,000

895,000

1,351,000

3,687,000

3,700,000

300,000

2,200,000

Offering expenses paid in cash

738,302

Shares issued for offering expenses

31,313

Warrants issued for offering expenses

89,250

Exercise price, warrants

$22.50

$12

Value of shares issued for offering expenses

171,250

Fair value of warrants outstanding

555,504

Volatility

83.00%

94.00%

77.00%

93.00%

94.00%

Estimated life (years)

'3 years

'2 years 3 months 18 days

'2 years 8 months 12 days

'2 years

'3 months 18 days

'5 months 12 days

Additional share rights granted, per investor

3,000,000

Broker commissions paid

245,729

Share rights unissued

13,636

Warrants expired

114,372

Warrants outstanding

42,509

Issuance of shares for debt issuance costs

318,000

161,000

318,000

Issuance of shares for debt issuance costs, shares

20,000

Issuance of shares for services

152,000

194,000

229,000

152,000

Issuance of shares for services, shares

10,000

25,000

Consulting services

100,000

Issuance of shares for purchase of Cross Border Stock

1,959,548

480,396

Cash paid for purchase of Cross Border Stock

287,532

Shares of Cross Border common stock purchased

9,490,342

2,701,261

Value of shares issued for purchase of Cross Border Stock

18,600,000

4,800,000

Debentures purchased

3,800,000

2,400,000

1,100,000

Issuance of shares for debentures

541,000

4,782,000

Issuance of shares for debentures, shares

900,000

569,329

Fair value of shares of stock issued

626,517

4,800,000

3,400,000

6,000,000

Value of claims paid for by share issuance

$1,300,000

Issuance of shares to settle Cross Border Resources, Inc. bankruptcy claims, shares

74,585

Issuance of shares to brokers, shares

25,996

Income_Taxes_Details_Narrative

Income Taxes (Details Narrative) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Income Taxes Details Narrative	'
Net operating loss carryforwards	$32,200

Income_Taxes_Details

Income Taxes (Details) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Income tax reconciliation:	'	'	'	'
Income taxes at U.S. statutory rate	($215)	($3,044)	($4,149)	($4,227)
Deferred state income tax expense	-4	-184	-268	-318
Change in tax status	'	-311	'	530
Permanent differences	'	1,217	626	269
Change in valuation allowance	219	2,366	3,791	3,746
Total tax expense	'	$44	'	'

Income_Taxes_Details_1

Income Taxes (Details 1) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13
Deferred tax assets:	'	'	'
Net operating loss carryforwards	$19,879	$16,254	$15,978
Oil and natural gas properties	-9,367	-11,830	-9,706
Derivatives	32	'	'
Bad debt	'	1,001	8
Capitalized transaction Costs	528	480	472
Environmental liabilities	788	783	768
Equity in earnings from Cross Border	'	-13	-13
Conversion of preferred stock	'	'	'
Other	'	'	'
Gross deferred tax assets	11,860	6,675	7,507
Valuation allowance	-11,901	-6,675	-7,507
Net deferred taxes	($41)	'	'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details Narrative) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12	Aug. 26, 2014
	Jun. 30, 2013	sqft	31-May-13	31-May-12	Settlement Agreement [Member]
Lawsuit, damages sought	'	$280,000	'	'	'
Number of square feet covered in rentals	'	16,884	'	'	'
Monthly rental payment	'	24	'	'	'
Rent expense	24	300	300	200	'
Environmental remediation liabilities related to Cross Border	'	2,100	'	'	'
Settlement of environmental liabilities	'	33	'	'	'
Damages paid value in the legal matter in three equal installments	'	'	'	'	$900

Commitments_and_Contingencies_2

Commitments and Contingencies (Details) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified	Jun. 30, 2014
Future minimum rental payments in fiscal years ending June 30,	'
2015	$218
2016	181
2017	45
2018	'
2019	'
Total	$444

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)

1 Months Ended

3 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

31-May-13

Feb. 28, 2013

Nov. 30, 2012

Aug. 31, 2012

Jun. 30, 2014

31-May-13

31-May-12

Nov. 03, 2011

Jan. 28, 2011

31-May-12

Oct. 19, 2011

Sep. 15, 2011

Jun. 30, 2014

31-May-13

31-May-12

Jun. 30, 2013

Jun. 30, 2014

31-May-13

31-May-12

Black Rock [Member]

StoneStreet Operating [Member]

Integrity Well Services LLC

Enerstar Resources [Member]

R.K. Ford and Associates, Inc. [Member]

Related party borrowings

$180,000

$100,000

Oil and natural gas sales

1,716,000

6,987,000

5,270,000

4,467,000

5,774,000

4,065,000

[1]

2,463,000

[1]

1,108,000

[1]

1,346,000

[1]

22,498,000

8,982,000

6,325,000

146,166,000

Operating fees paid

14,550,000

Reimbursement of operating and corporate expenses

90,796,000

Condensate proceeds paid

20,260,000

Accounts payable - related party

11,629,000

Certificate of deposit paid on behalf of StoneStreet Operating

25,000

Proceeds of certificate of deposit returned to BlackRock

25,141,000

Royalty expense

15,000

8,700

6,800

Lease payments

2,000

2,100

25,200

Well services

313,000

Engineering, drilling and completion services

$2,100

$2,900,000

$200,000

$5,000,000

[1]

Subsequent_Events_Details_Narr

Subsequent Events (Details Narrative) (Subsequent Event [Member], Settlement Agreement [Member], USD $)	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Subsequent Event [Member] \| Settlement Agreement [Member]	'
Litigation settlement in three equal installments	$900

Supplemental_Information_Relat2

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Details Narrative) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	31-May-13	31-May-12
Asset retirement obligations incurred	$500	$300	$600
Oil (MBbls) [Member]	'	'	'
Spot price of bbl (NYMEX) and MMBtu (Henry Hub)	100	'	'
Spot price adjusted	92.83	'	'
Natural Gas (MMcf) [Member]	'	'	'
Spot price of bbl (NYMEX) and MMBtu (Henry Hub)	4.1	'	'
Spot price adjusted	5.06	'	'
Natural Gas Liquids [Member]	'	'	'
Spot price adjusted	31.36	'	'

Supplemental_Information_Relat3

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Details) (USD $)	1 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013		Jun. 30, 2014		31-May-13		31-May-12
Property acquisition costs:	'		'		'		'
Unproved properties	'		'		$17,132		$2,786
Proved properties	'		'		32,395		1,045
Exploration costs	30		1,193		849		265
Development costs	731	[1]	17,101	[1]	7,134	[1]	15,929	[1]
Total costs incurred	$761		$18,294		$57,510		$20,025

[1]	For the fiscal years ended June 30, 2014, May 31, 2013 and 2012 and the one month ended June 30, 2013, development costs included $0.5 million, $0.3 million, $0.6 million and $20,000, respectively, in non-cash asset retirement obligations.

Supplemental_Information_Relat4

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Details 1) (USD $)	1 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	31-May-13	31-May-12
Results of operations:	'	'	'	'
Revenues	$1,716	$22,498	$8,982	$6,325
Production costs	-128	-5,340	-2,305	-1,346
Exploration expense	-30	-1,193	-438	-265
Impairment	'	-487	-411	-1,051
Depletion	-665	-9,020	-4,515	-4,039
Income tax expense	'	'	'	'
Results of operations	$893	$6,458	$1,313	($376)

Supplemental_Information_Relat5

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Details 2)	12 Months Ended
	Jun. 30, 2014	31-May-13	31-May-12
	MBbls	MBbls	MBbls
Oil (MBbls) [Member]	'	'	'
Oil and Natural Gas:	'	'	'
Proved oil and natural gas reserves, beginning	2,320	1,000	844
Acquisitions	'	1,550	287
Extensions and discoveries	711	'	'
Revisions in previous estimates	163	-120	-95
Production	-233	-83	-36
Reserves Sold	'	-27	'
Proved oil and natural gas reserves, beginning	2,961	2,320	1,000
Proved Developed Reserves	1,314	1,016	158
Proved Undeveloped Reserves	1,648	1,304	842
Natural Gas (MMcf) [Member]	'	'	'
Oil and Natural Gas:	'	'	'
Proved oil and natural gas reserves, beginning	7,360	6,491	10,450
Acquisitions	'	5,723	307
Extensions and discoveries	1,398	'	'
Revisions in previous estimates	-823	-4,028	-3,423
Production	-987	-646	-843
Reserves Sold	'	-180	'
Proved oil and natural gas reserves, beginning	6,948	7,360	6,491
Proved Developed Reserves	4,688	5,320	4,365
Proved Undeveloped Reserves	2,261	2,041	2,126
Total (MBoe) [Member]	'	'	'
Oil Equivalents:	'	'	'
Proved oil and natural gas reserves, beginning	3,547	2,082	2,586
Acquisitions	'	2,504	338
Extensions and discoveries	944	'	'
Revisions in previous estimates	26	-791	-666
Production	-398	-191	-176
Reserves Sold	'	-57	'
Proved oil and natural gas reserves, beginning	4,119	3,547	2,082
Proved Developed Reserves	2,095	1,902	886
Proved Undeveloped Reserves	2,025	1,644	1,196

Supplemental_Information_Relat6

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Details 3) (USD $)	Jun. 30, 2014	Jun. 30, 2013	31-May-13	31-May-12	31-May-11
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	31-May-13	31-May-12	31-May-11
Standardized measure of discounted future net cash flows	'	'	'	'	'
Future cash inflows	$294,350	'	$229,688	$117,238	'
Future production costs	-76,574	'	-58,869	-27,017	'
Future development costs	-42,357	'	-37,279	-27,457	'
Future income tax expense	-23,306	'	-23,027	-19,578	'
Future net cash flows	152,113	'	110,513	43,186	'
10% annual discount for estimated timing of cash flows	-73,113	'	-53,377	-28,485	'
Standardized measure of discounted future net cash flows	$79,000	$57,136	$57,136	$14,701	$35,311

Supplemental_Information_Relat7

Supplemental Information Relating to Oil and Natural Gas Producing Activities (Details 4) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	31-May-13	31-May-12
Changes in standardized measure of discounted future net cash flows	'	'	'
Balance, beginning of period	$57,136	$14,701	$35,311
Net change in sales and transfer prices and in production (lifting) costs related to future production	8,407	7,183	-1,004
Changes in estimated future development costs	18,870	16,461	-20,727
Sales and transfers of oil and natural gas produced during the period	-17,879	-6,574	-4,979
Sale of reserves	'	-1,087	'
Net change due to extensions and discoveries	21,859	'	'
Net change due to purchase of minerals in place	'	47,739	4,352
Net change due to revisions in quantity estimates	601	-15,082	-8,553
Previously estimated development costs incurred during the period	-16,755	-7,120	'
Accretion of discount	6,763	2,677	5,389
Other	106	-3,340	2,339
Net change in income taxes	108	1,578	2,573
Balance, end of period	$79,000	$57,136	$14,701

Quarterly_Financial_Informatio

Quarterly Financial Information (Unaudited) (Details) (USD $)	1 Months Ended	3 Months Ended												12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2013	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	31-May-13		Feb. 28, 2013		Nov. 30, 2012		Aug. 31, 2012		Jun. 30, 2014	31-May-13	31-May-12
Quarterly Financial Information Details	'	'	'	'	'	'		'		'		'		'	'	'
Oil and natural gas sales	$1,716	$6,987	$5,270	$4,467	$5,774	$4,065	[1]	$2,463	[1]	$1,108	[1]	$1,346	[1]	$22,498	$8,982	$6,325
Income (Loss) from Operations	-342	-799	-824	-1,322	182	-933	[1]	-1,400	[1]	-1,209	[1]	-3,221	[1]	-2,763	-6,763	-6,814
Net loss before income taxes	-671	-3,924	-1,790	-2,108	-1,129	-1,525		-3,048		-3,238		-3,709		-8,951	-11,520	-12,432
Net loss attributable to Red Mountain Resources, Inc.	($631)	($4,044)	($1,984)	($2,205)	($1,275)	($1,863)	[1]	($3,392)	[1]	($3,238)	[1]	($3,709)	[1]	($9,508)	($12,202)	($12,432)
Basic and diluted net loss per common share	($0.05)	($0.39)	($0.15)	($0.16)	($0.09)	($0.12)	[1]	($0.33)	[1]	($0.36)	[1]	($0.42)	[1]	($0.70)	($1.20)	($1.69)

[1]	Financial information for the three months ended September 30, 2012, December 31, 2012 and March 31, 2013 (collectively, the "Calendar Quarters") has not been included for the following reasons: (i) the three months ended August 31, 2012, November 30, 2012 and February 28, 2013 (collectively, the "Fiscal Quarters") provide a meaningful comparison for the three months ended September 30, 2013, December 31, 2013 and March 31, 2014; (ii) there are no significant factors, seasonal or other, that would impact the comparability of information if the results for Calendar Quarters were presented in lieu of results for the Fiscal Quarters; and (iii) it was not practicable or cost justified to prepare this information.