Lynden Energy 10-Q 13 May 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 31, 2015	11-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	LVL
Entity Registrant Name	Lynden Energy Corp.
Entity Central Index Key	1622620
Current Fiscal Year End Date	-24
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		130,198,411

Condensed_Consolidated_Interim

Condensed Consolidated Interim Balance Sheets (USD $)	Mar. 31, 2015	Jun. 30, 2014
Current assets
Cash and cash equivalents	$9,364,304	$13,955,890
Trade and other receivables, net of allowance for doubtful accounts	1,449,917	3,143,017
Income taxes receivable	200,000	200,000
Prepaid expenses	86,215
Total current assets	11,100,436	17,298,907
Non-current assets
Property, plant and equipment	104,998,686	91,812,527
Total assets	116,099,122	109,111,434
Current liabilities
Trade and other payables	513,457	2,971,177
Income taxes payable	537,000	380,000
Total current liabilities	1,050,457	3,351,177
Non-current liabilities
Credit facility	27,398,112	17,853,245
Asset retirement liabilities	268,212	240,208
Deferred tax liabilities	16,069,811	14,902,811
Total non-current liabilities	43,736,135	32,996,264
Total liabilities	44,786,592	36,347,441
Shareholders' equity
Share capital - authorized unlimited common shares, no par value Issued and outstanding: March 31, 2015 - 130,198,411 June 30, 2014 - 129,275,911	65,622,739	65,160,387
Paid-in capital	15,228,868	15,434,128
Accumulated other comprehensive loss	-1,954,281	-212,663
Deficit	-7,584,796	-7,617,859
Total shareholders' equity	71,312,530	72,763,993
Total liabilities and shareholders' equity	$116,099,122	$109,111,434

Condensed_Consolidated_Interim1

Condensed Consolidated Interim Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Statement of Financial Position [Abstract]
Common stock, no par value
Common stock, shares issued	130,198,411	129,275,911
Common stock, shares outstanding	130,198,411	129,275,911

Condensed_Consolidated_Interim2

Condensed Consolidated Interim Statements of Income (Loss) and Comprehensive Income (Loss) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Revenue and other income
Petroleum and natural gas sales, net of royalties	$3,699,751	$5,723,518	$17,593,290	$21,862,258
Derivative financial instruments gain (loss)		2,898		-70,440
Interest income	30,249	39,415	103,539	51,511
Total revenue and other income	3,730,000	5,765,831	17,696,829	21,843,329
Expenses
Production and operating expenses	-1,959,220	-1,396,682	-4,651,407	-3,665,343
Depletion, depreciation and accretion	-2,704,024	-1,979,354	-8,166,473	-5,937,645
Foreign exchange loss	-1,880	-2,084	-3,009	-4,864
General and administrative	-803,864	-403,956	-1,717,499	-1,033,933
Impairments			-449,541
Share of loss in equity investment	-431,919		-431,919
Interest	-279,960	-150,209	-794,918	-279,977
Total expenses	-6,180,867	-3,932,285	-16,214,766	-10,921,762
Other income
Gain on disposition of property, plant and equipment		276,177		10,214,019
Income (loss) before income taxes	-2,450,867	2,109,723	1,482,063	21,135,586
Income tax (recovery) expense	-339,000	-143,956	1,449,000	5,636,044
Net (loss) income	-2,111,867	2,253,679	33,063	15,499,542
Other comprehensive (loss) income
Foreign currency translation adjustment	-835,324	-456,928	-1,741,618	-756,147
Total comprehensive (loss) income for the period	($2,947,191)	$1,796,751	($1,708,555)	$14,743,395
Weighted average number of common shares outstanding
Basic	130,198,411	129,275,911	129,994,825	121,979,459
Diluted	130,198,411	131,844,029	130,967,825	124,777,421
Net earnings per common share
Basic	($0.02)	$0.02	$0	$0.13
Diluted	($0.02)	$0.02	$0	$0.12

Condensed_Consolidated_Interim3

Condensed Consolidated Interim Statement of Changes in Equity (USD $)	Total	Common Shares [Member]	Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Deficit [Member]
Beginning balance at Jun. 30, 2013	$44,996,987	$49,279,688	$18,598,870	$139,939	($23,021,510)
Beginning balance, shares at Jun. 30, 2013		110,505,520
Common shares issued for cash:
Exercise of warrants	12,660,274	15,880,699	-3,220,425
Exercise of warrants, shares		18,770,391
Share-based payments	55,682		55,682
Foreign currency translation	-756,147			-756,147
Earnings for the period	15,499,542				15,499,542
Ending balance at Mar. 31, 2014	72,456,338	65,160,387	15,434,127	-616,208	-7,521,968
Ending balance, shares at Mar. 31, 2014		129,275,911
Beginning balance at Jun. 30, 2014	72,763,993	65,160,387	15,434,128	-212,663	-7,617,859
Beginning balance, shares at Jun. 30, 2014		129,275,911
Common shares issued for cash:
Exercise of stock options	257,092	462,352	-205,260
Exercise of stock options, shares	922,500	922,500
Foreign currency translation	-1,741,618			-1,741,618
Earnings for the period	33,063				33,063
Ending balance at Mar. 31, 2015	$71,312,530	$65,622,739	$15,228,868	($1,954,281)	($7,584,796)
Ending balance, shares at Mar. 31, 2015		130,198,411

Condensed_Consolidated_Interim4

Condensed Consolidated Interim Statements of Cash Flows (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Operating activities
Net income for the period	($2,111,867)	$2,253,679	$33,063	$15,499,542
Adjustments for:
Accrued interest			44,867	-2,347
Unrealized loss on derivative financial instruments				27,418
Depletion, depreciation and accretion	2,704,024	1,979,354	8,166,473	5,937,645
Impairments			449,541
Share of loss in equity investment	431,919		431,919
Share-based payments				54,529
Gain on disposition of property, plant and equipment		-276,177		-10,214,019
Deferred income taxes			1,167,000	4,658,000
Unrealized foreign exchange gain			-417,337	-229,922
Changes in non-cash working capital items:
Trade and other receivables			1,693,100	-103,445
Prepaid expenses			-86,215
Trade and other payables			-38,344	821,569
Income taxes payable			157,000	751,160
Cash generated by operating activities			11,601,067	17,200,130
Investing activities
Advances to investment in associate			-431,919
Disposition of property, plant and equipment				20,497,203
Acquisition of property, plant and equipment			-24,193,545	-26,136,372
Cash (used in) generated by investing activities			-24,625,464	-5,639,169
Financing activities
Drawings (repayments) of credit facility			9,500,000	-12,750,000
Common shares issued for cash, net of issue costs			257,092	12,660,274
Cash generated (used) by financing activities			9,757,092	-89,726
Effect of exchange rate on cash held in foreign currency			-1,324,281	-525,071
Change in cash and cash equivalents during the period			-4,591,586	10,946,164
Cash and cash equivalents, beginning of period			13,955,890	1,874,400
Cash and cash equivalents, end of period	9,364,304	12,820,564	9,364,304	12,820,564
Cash and cash equivalents are composed of:
Cash	646,239	1,560,377	646,239	1,560,377
Guaranteed investment certificates	8,718,065	11,260,187	8,718,065	11,260,187
Cash and cash equivalents, total	$9,364,304	$12,820,564	$9,364,304	$12,820,564

Description_of_Business

Description of Business	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Description of Business	1. Description of Business
	Lynden Energy Corp. (the “Company”) is a public company continued under the Business Corporations Act (British Columbia). The Company’s business is to acquire, explore and develop petroleum and natural gas (“P&NG”) properties. The Company’s principal business activities are located in Texas, United States of America. The Company’s common shares trade on the TSX Venture Exchange (“TSX-V”) under the symbol LVL. The head office is located in Vancouver, British Columbia, Canada.

Significant_Accounting_Policie

Significant Accounting Policies	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies
	a) Basis of presentation
	These condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) as at March 31, 2015 and for the three and nine months ended March 31, 2015 and the 2014 comparative period. These condensed consolidated interim financial statements do not include all the necessary annual disclosures as prescribed under U.S. GAAP and should be read in conjunction with the Company’s restated audited consolidated financial statements as of June 30, 2014.
	In management’s opinion, the condensed consolidated financial statements reflect all adjustments (including normal recurring adjustments) which are necessary to present fairly the financial position as at March 31, 2015 and results of operations and cash flows for all periods presented.
	b) Use of estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amount and timing of recording of assets, liabilities, revenues and expenses since the determination of these amounts may be dependent on future events. Significant estimates made by management include: oil and natural gas reserves and related present value of future cash flows, depreciation, depletion, amortization and accretion (“DDA&A”), impairment, asset retirement obligations, income taxes, and share-based compensation. The Company uses the most current information available and exercises judgment in making these estimates and assumptions. There have been no significant changes in the estimates or judgments between these condensed consolidated interim financial statements and the audited consolidated financial statements for the year ended June 30, 2014.
	c) Recent accounting pronouncements
	As of July 1, 2014, the Company adopted the following Financial Accounting Standards Board (“FASB”) accounting standards updates. The adoption of these standards did not have a material impact on the Company’s condensed consolidated interim financial statements.
		•	Accounting Standards Update 2013-04, Obligations resulting from Joint and Several Liability Arrangements
		•	Accounting Standards Update 2013-05, Parent’s Accounting for Cumulative Translation Adjustments upon Derecognition of Certain Subsidiaries
		•	Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists
	The FASB has issued the following accounting standards updates which are not yet effective:
		•	Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (effective for annual periods beginning on or after March 15, 2014)
		•	Accounting Standards Update 2014-09, Revenue From Contracts With Customers (effective for annual periods beginning after March 15, 2016)
		•	Accounting Standards Update 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved After the Requisite Service Period (effective for annual periods beginning after March 15, 2015)
		•	Accounting Standards Update 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern (effective for annual periods ending after March 15, 2016)
	The Company has not early adopted these accounting standards updates and is currently assessing the application of these standards on the results and financial position of the Company.

Trade_and_Other_Receivables

Trade and Other Receivables	9 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Trade and Other Receivables	3. Trade and Other Receivables
		March 31, 2015		June 30, 2014
	Accounts receivable – trade	$	238	$	2,572,762
	Accrued receivables		1,364,640		496,947
	Sales taxes receivable		85,039		73,308
		$	1,449,917	$	3,143,017
	The Company did not have any allowance for doubtful accounts as at March 31, 2015 and June 30, 2014. As at March 31, 2015, $1,320,589 (June 30, 2014 - $2,991,585) is owing from one counterparty.

Investment_in_Associate

Investment in Associate	9 Months Ended
	Mar. 31, 2015
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investment in Associate	4. Investment in Associate
	In October 2007, the Company participated, along with its Paradox Basin partners, in the formation of a Utah, USA based natural gas transmission company, Abajo Gas Transmission Company, LLC (“Abajo”). The Company purchased a 47.99% interest in Abajo through capital contributions totaling $5,135,000. Abajo holds ownership of the gas gathering systems in the Northern and Southern Prospect Areas of the Company’s Paradox Basin Project. Through its interest in Abajo, the Company is entitled to 55% of the revenues and expenses attributable to the construction, operation, maintenance and expansion of the gas gathering system in the Northern Prospect Area and 25% in the Southern Prospect Area.
	The Company exerts significant influence over Abajo as a result of its approximately 48% interest. However, as a result of the Company’s partner holding a greater than 50% interest in Abajo and also acting as manager of Abajo, the Company does not control Abajo. As such, the investment in Abajo is accounted for using the equity method.
	At July 1, 2010, the Company wrote down its Abajo investment to $nil. The impairment charge was made after considering, among other things, the estimated future natural gas volumes to be transmitted by Abajo from the wells currently tied into the gas gathering system and the Company’s decision to not incur capital expenditures on the Paradox Basin Project in the near term.
	In March 2015, the Company invested a further $431,919 in Abajo. This additional investment represents the funding of prior losses up to the amount of the additional investment and has been expensed in the three months ended March 31, 2015.

Property_Plant_and_Equipment

Property, Plant and Equipment	9 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	5. Property, Plant and Equipment
		March 31, 2015
		Cost		Accumulated			Net Book Value
				Depletion,
				Depreciation
				and Impairment
	Petroleum and natural gas properties
	Proved	$	117,301,312	$	(20,929,259	)	$	96,372,053
	Exploratory well costs		35,861,596		(27,236,093	)		8,625,503
			153,162,908		(48,165,352	)		104,997,556
	Computer equipment		2,052		(922	)		1,130
	Total property, plant and equipment	$	153,164,960	$	(48,166,274	)	$	104,998,686
		June 30, 2014
		Cost		Accumulated			Net Book
				Depletion,			Value
				Depreciation
				and Impairment
	Petroleum and natural gas properties
	Proved	$	100,407,384	$	(12,781,939	)	$	87,625,445
	Exploratory well costs		30,972,613		(26,786,552	)		4,186,061
			131,379,997		(39,568,491	)		91,811,506
	Computer Equipment		4,820		(3,799	)		1,021
	Total property, plant and equipment	$	131,384,817	$	(39,572,290	)	$	91,812,527
	Proved Petroleum and Natural Gas Assets
	Proved petroleum and natural gas assets consist of lease acquisition costs, costs of drilling and equipping development wells, and construction of related production facilities all relating to the Company’s Midland Basin property.
	Exploratory Well Costs
	Exploratory well costs consist of costs associated with the drilling and equipping of exploratory wells relating to 1) the Mitchell Ranch Project; 2) four vertical well locations in the Midland Basin; and 3) one horizontal well location in the Midland Basin. The Company is performing economic evaluations including, but not limited to, results of additional appraisal drilling, well test analysis, additional geological and geophysical data, facilities and infrastructure development options, development plan approval, and permitting.
	Upon revisiting the criteria for the capitalization of the costs related to the Paradox Basin Project suspended exploratory well costs, including the lack of substantial activities to assess the reserves for more than one year following the drilling of the exploratory wells, and the lack of significant expenditures which are planned in the future, management has corrected the accounting for these costs as they should no longer be capitalized. As a result, the Company has made an immaterial adjustment and has expensed the remaining costs of $449,541 in the three months ended September 30, 2014.

Credit_Facility

Credit Facility	9 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Credit Facility	6. Credit Facility
	The Company has a reducing revolving line of credit (the “Credit Facility”) in an amount up to $100 million. As at March 31, 2015, the Credit Facility has a borrowing base of $40 million, of which $27.3 million has been drawn down. Subsequent to March 31, 2015, the Credit Facility lender advised the Company that the borrowing base under the Credit Facility would be, subject to the completion of customary documentation, reduced to $37.5 million. The Credit Facility will bear interest determined by the percent of the borrowing base utilized and by elections made by the Company. Amounts drawn down under the Credit Facility will bear interest at a rate of LIBOR plus a range of 3.00% to 3.50% or at a rate of U.S. prime plus a range of 2.00% to 2.50%. A minimum interest rate of 3.5% is required on borrowings under the Credit Facility. Payments under the Credit Facility will be required to the extent that outstanding principal and interest exceed the borrowing base. Other fees may also apply pursuant to the bank’s re-determinations of the borrowing base. Changes in borrowing base are made based on the bank’s engineering valuation of the Company’s oil and gas reserves. The borrowing base is re-determined semi-annually; however, the Company may request two additional re-determinations of the borrowing base annually.
	The Credit Facility contains certain mandatory covenants, including minimum current ratio and cash flow requirements, and other standard business operating covenants. The Company has complied with all of these covenants as at and during the nine months ended March 31, 2015. The Company has pledged its interest in its P&NG and other assets as security for liabilities pursuant to the Credit Facility. Amounts owing on the Credit Facility are payable when the Credit Facility expires in August 2016, unless otherwise extended by the parties, or payable on demand on the event of default.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Shareholders' Equity	7. Shareholders’ Equity
	a) Authorized
	An unlimited number of common shares without par value.
	An unlimited number of preference shares without par value.
	b) Warrants:
	The changes in warrants outstanding during the nine months ended March 31, 2015 and the year ended June 30, 2014 are as follows:
		Nine months ended					Year ended
		March 31, 2015					June 30, 2014
		Number of			Weighted		Number of			Weighted
		warrants			average		warrants			average
					exercise price					exercise price
					(CDN$)					(CDN$)
	Balance, beginning of period		7,512,000		$	0.65		27,415,760		$	0.69
	Exercised		—		$	—		(18,770,391	)	$	0.7
	Expired		—		$	—		(1,133,369	)	$	0.7
	Balance, end of period		7,512,000		$	0.65		7,512,000		$	0.65
	For warrants exercised during the year ended June 30, 2014, the weighted average share price at the dates of exercise was CDN$0.79.
	Warrants exercisable and outstanding as at March 31, 2015 are as follows:
	Expiry Date	Exercise
		Price
		(CDN$)
	May 4, 2015	$	0.65			5,079,500
	May 18, 2015	$	0.65			2,432,500
						7,512,000
	On May 4, 2015, 5,079,500 warrants expired unexercised.
	c) Earnings per share:
	Diluted earnings per share computation
		Three months ended March 31,					Nine months ended March 31,
		2015			2014		2015			2014
	Numerator:
	Net (loss) earnings	$	(2,111,867	)	$	2,253,679	$	33,063		$	15,499,542
	Denominator:
	Weighted average number of common shares (basic)		130,198,411			129,275,911		129,994,825			121,979,459
	Dilutive effect of share options		—			1,480,855		436,429			1,545,962
	Dilutive effect of warrants		—			1,087,263		536,571			1,252,000
	Weighted average number of common shares (diluted)		130,198,411			131,844,029		130,967,825			124,777,421
	Diluted earnings per common share	$	(0.02	)	$	0.02	$	0		$	0.12
	For the three months ended March 31, 2015, there are 4,270,000 (2014 – 2,620,000) share options that are not dilutive and 7,512,000 (2014 – nil) warrants that are not dilutive.
	For the nine months ended March 31, 2015, there are 2,612,500 (2014 – 2,620,000) share options that are not dilutive and nil (2014 – nil) warrants that are not dilutive.
	d) Stock option plan
	The Company has a stock option plan whereby a maximum of 10% of the issued and outstanding common shares of the Company may be reserved for issuance pursuant to the exercise of stock options. The term of the stock options granted are fixed by the board of directors and are not to exceed ten years. The exercise prices of the stock options are determined by the board of directors but shall not be less than the closing price of the Company’s common shares on the day preceding the day on which the directors grant the stock options, less any discount permitted by the TSX-V. Subject to any vesting schedule imposed by the Company’s board of directors in respect of any specific stock option grants, the stock options vest immediately on the date of grant except for stock options granted to investor relations consultants which vest over a twelve month period.
	The changes in stock options issued during the nine months ended March 31, 2015 and the year ended June 30, 2014 are as follows:
		Nine months ended					Year ended
		March 31, 2015					June 30, 2014
		Number of			Weighted		Number of			Weighted
		options			average		options			average
					exercise price					exercise price
					(CDN$)					(CDN$)
	Balance, beginning of period		6,632,500		$	0.61		6,862,500		$	0.81
	Exercised		(922,500	)	$	0.31		—		$	—
	Expired		(1,440,000	)	$	0.55		(230,000	)	$	0.68
	Balance, end of period		4,270,000		$	0.69		6,632,500		$	0.61
	For stock options exercised during the nine months ended March 31, 2015, the weighted average share price at the dates of exercise was CDN$0.92
	The following table summarizes information about stock options outstanding and exercisable at March 31, 2015:
		Options outstanding					Options exercisable
	Exercise price (CDN$)	Number of			Weighted		Number of			Weighted
		options			average		options			average
					remaining life					remaining life
					(years)					(years)
	$0.50 to $0.60		1,657,500			1.95		1,657,500			1.95
	$0.80		2,612,500			1.31		2,612,500			1.31
			4,270,000			1.56		4,270,000			1.56

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions
	The Company incurred the following fees and expenses in the normal course of operations at amounts agreed upon between the parties to companies owned by key management and directors. The legal fees are paid to a law firm in which a director is a shareholder and the transportation and marketing costs are paid to Abajo Gas Transmission Company, LLC, the Company’s investment in associate.
		Three months ended				Nine months ended
		March 31,				March 31,
		2015		2014		2015		2014
	Legal fees	$	14,341	$	12,098	$	42,682	$	37,574
	Transportation and marketing costs		8,569		11,704		27,859		23,722
	Total	$	22,910	$	23,802	$	70,541	$	61,296
	Trade and other payables include $7,760 (June 30, 2014 – $47,014) owing to related parties. Amounts due to or from related parties are unsecured, non-interest bearing and are due on demand.

Financial_Instruments

Financial Instruments	9 Months Ended
	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Financial Instruments	9. Financial Instruments
	As at March 31, 2015, the Company’s financial instruments are cash and cash equivalents, trade and other receivables, credit facility, and trade and other payables. These financial instruments are classified as follows:
	Cash and cash equivalents – loans and receivables
	Trade and other receivables – loans and receivables
	Credit facility – other financial liabilities
	Trade and other payables – other financial liabilities
	The following fair value hierarchy is used to categorize and disclose the Company’s financial assets and liabilities held at fair value for which a valuation technique is used:
	Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities.
	Level 2: All inputs which have a significant effect on the fair value are observable, either directly or indirectly, for substantially the full contractual term.
	Level 3: Inputs which have a significant effect on the fair value are not based on observable market data.
	The amounts reported in the condensed consolidated interim balance sheet for the Company’s cash and cash equivalents, trade and other receivables, credit facility, and trade and other payables are carrying amounts and approximate their fair values due to their short-term nature.
	The Company has exposure to credit risk, liquidity risk, and market risk from its use of financial instruments. There have not been any changes to the Company’s exposure to risks, or the objectives, policies and processes to manage these since from June 30, 2014. Subsequent to March 31, 2015, we entered into a NYMEX based oil price put contract for 9,000 barrels of oil per month from September 2015 until August 2016 (12 months) with a strike price of $50 per barrel. Fair value changes on this contract will be recognized in the statement of income.
	a) Credit risk
	The aging of trade and other receivables are as follows:
			March 31, 2015		June 30, 2014
	Trade and other receivables
	0 to 60 days		$	1,381,908	$	3,083,365
	61 to 120 days			8,357		6,762
	> 120 days1			59,652		52,890
			$	1,449,917	$	3,143,017
	1	Utah State withholding taxes on P&NG sales.
	b) Liquidity Risk
	The following table details the Company’s expected remaining contractual maturities for its financial liabilities. The table is based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company is required to satisfy the liabilities.
			Total		Less than		One to two			More than
					1 year		years			two years
	Credit facility1		$	27,398,112	$	—	$	27,398,112		$	—
	Trade and other payables			513,457		513,457		—			—
			$	27,911,569	$	513,457	$	27,398,112		$	—
	1	Includes accrued interest of $148,112.
	c) Currency Risk
	As at March 31, 2015, a 10% depreciation or appreciation of the Canadian dollar against the United States dollar would result in an increase or decrease, respectively, in the Company’s earnings or loss by $880,388, based on the net exposures presented below:
			Cash		Trade and		Trade			Net assets		Effect of +/-
					other		and other			exposure		10% change
					receivables		payables					in currency
	Canadian dollar denomination		$	8,966,514	$	12,781	$	(175,420	)	$	8,803,875	$	880,388

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	9 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	10. Supplemental Cash Flow Information
		Nine months ended
		March 31,
		2015		2014
	Non-cash financing activities:
	Fair value of stock options transferred to common shares on exercise of stock options	$	205,260	$	—
	Fair value of warrants transferred to common shares on exercise of warrants	$	—	$	3,220,425

Segmented_Information

Segmented Information	9 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segmented Information	11. Segmented Information
	At March 31, 2015 the Company has one reportable operating segment, being the acquisition, exploration and development of petroleum and natural gas properties. The Company operates in two reportable geographic areas, being Canada and the United States of America.
	An operating segment is defined as a component of the Company:
		•		that engages in business activities from which it may earn revenues and incur expenses;
		•		whose operating results are reviewed regularly by the entity’s chief operating decision maker; and
		•		for which discrete financial information is available.
	The Company’s revenues and capital assets in each of the geographic areas are as follows:
			Canada				USA					Consolidated Total
			2015		2014		2015		2014			2015		2014
	Three months ended March 31,
	Revenue and other income
	Interest Income		$	30,249	$	39,415	$	—	$	—		$	30,249	$	39,415
	Derivative financial instruments gain (loss)			—		—		—		2,898			—		2,898
	Petroleum sales, net of royalties			—		—		2,975,682		4,297,059			2,975,682		4,297,059
	Natural gas sales, net of royalties			—		—		485,205		674,134			485,205		674,134
	Natural gas liquids sales, net of royalties			—		—		238,864		752,325			238,864		752,325
			$	30,249	$	39,415	$	3,699,751	$	5,722,416		$	3,730,000	$	5,765,831
	Nine months ended March 31,
	Revenue and other income
	Interest Income		$	103,539	$	51,511	$	—	$	—		$	103,539	$	51,511
	Derivative financial instruments gain (loss)			—		—		—		(70,440	)		—		(70,440	)
	Petroleum sales, net of royalties			—		—		13,685,536		17,961,450			13,685,536		17,961,450
	Natural gas sales, net of royalties			—		—		1,785,493		1,645,430			1,785,493		1,645,430
	Natural gas liquids sales, net of royalties			—		—		2,122,261		2,255,378			2,122,261		2,255,378
			$	103,539	$	51,511	$	17,593,290	$	21,791,818		$	17,696,829	$	21,843,329
			Canada				USA					Consolidated Total
			March 31,		June 30,		March 31,		June 30,			March 31,		June 30,
			2015		2014		2015		2014			2015		2014
	Property, plant and equipment		$	1,130	$	1,021	$	104,997,556	$	91,811,506		$	104,998,686	$	91,812,527

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of presentation	a) Basis of presentation
	These condensed consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”) as at March 31, 2015 and for the three and nine months ended March 31, 2015 and the 2014 comparative period. These condensed consolidated interim financial statements do not include all the necessary annual disclosures as prescribed under U.S. GAAP and should be read in conjunction with the Company’s restated audited consolidated financial statements as of June 30, 2014.
	In management’s opinion, the condensed consolidated financial statements reflect all adjustments (including normal recurring adjustments) which are necessary to present fairly the financial position as at March 31, 2015 and results of operations and cash flows for all periods presented.
Use of estimates	b) Use of estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amount and timing of recording of assets, liabilities, revenues and expenses since the determination of these amounts may be dependent on future events. Significant estimates made by management include: oil and natural gas reserves and related present value of future cash flows, depreciation, depletion, amortization and accretion (“DDA&A”), impairment, asset retirement obligations, income taxes, and share-based compensation. The Company uses the most current information available and exercises judgment in making these estimates and assumptions. There have been no significant changes in the estimates or judgments between these condensed consolidated interim financial statements and the audited consolidated financial statements for the year ended June 30, 2014.
Recent accounting pronouncements	c) Recent accounting pronouncements
	As of July 1, 2014, the Company adopted the following Financial Accounting Standards Board (“FASB”) accounting standards updates. The adoption of these standards did not have a material impact on the Company’s condensed consolidated interim financial statements.
		•	Accounting Standards Update 2013-04, Obligations resulting from Joint and Several Liability Arrangements
		•	Accounting Standards Update 2013-05, Parent’s Accounting for Cumulative Translation Adjustments upon Derecognition of Certain Subsidiaries
		•	Accounting Standards Update 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists
	The FASB has issued the following accounting standards updates which are not yet effective:
		•	Accounting Standards Update 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (effective for annual periods beginning on or after March 15, 2014)
		•	Accounting Standards Update 2014-09, Revenue From Contracts With Customers (effective for annual periods beginning after March 15, 2016)
		•	Accounting Standards Update 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved After the Requisite Service Period (effective for annual periods beginning after March 15, 2015)
		•	Accounting Standards Update 2014-15, Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern (effective for annual periods ending after March 15, 2016)
	The Company has not early adopted these accounting standards updates and is currently assessing the application of these standards on the results and financial position of the Company.

Trade_and_Other_Receivables_Ta

Trade and Other Receivables (Tables)	9 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Summary of Trade and Other Receivables
		March 31, 2015		June 30, 2014
	Accounts receivable – trade	$	238	$	2,572,762
	Accrued receivables		1,364,640		496,947
	Sales taxes receivable		85,039		73,308
		$	1,449,917	$	3,143,017

Property_Plant_and_Equipment_T

Property, Plant and Equipment (Tables)	9 Months Ended
	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment
		March 31, 2015
		Cost		Accumulated			Net Book Value
				Depletion,
				Depreciation
				and Impairment
	Petroleum and natural gas properties
	Proved	$	117,301,312	$	(20,929,259	)	$	96,372,053
	Exploratory well costs		35,861,596		(27,236,093	)		8,625,503
			153,162,908		(48,165,352	)		104,997,556
	Computer equipment		2,052		(922	)		1,130
	Total property, plant and equipment	$	153,164,960	$	(48,166,274	)	$	104,998,686
		June 30, 2014
		Cost		Accumulated			Net Book
				Depletion,			Value
				Depreciation
				and Impairment
	Petroleum and natural gas properties
	Proved	$	100,407,384	$	(12,781,939	)	$	87,625,445
	Exploratory well costs		30,972,613		(26,786,552	)		4,186,061
			131,379,997		(39,568,491	)		91,811,506
	Computer Equipment		4,820		(3,799	)		1,021
	Total property, plant and equipment	$	131,384,817	$	(39,572,290	)	$	91,812,527

Shareholders_Equity_Tables

Shareholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Changes in Warrants Outstanding	The changes in warrants outstanding during the nine months ended March 31, 2015 and the year ended June 30, 2014 are as follows:
		Nine months ended					Year ended
		March 31, 2015					June 30, 2014
		Number of			Weighted		Number of			Weighted
		warrants			average		warrants			average
					exercise price					exercise price
					(CDN$)					(CDN$)
	Balance, beginning of period		7,512,000		$	0.65		27,415,760		$	0.69
	Exercised		—		$	—		(18,770,391	)	$	0.7
	Expired		—		$	—		(1,133,369	)	$	0.7
	Balance, end of period		7,512,000		$	0.65		7,512,000		$	0.65
Schedule of Warrants Exercisable and Outstanding	Warrants exercisable and outstanding as at March 31, 2015 are as follows:
	Expiry Date	Exercise
		Price
		(CDN$)
	May 4, 2015	$	0.65			5,079,500
	May 18, 2015	$	0.65			2,432,500
						7,512,000
Computation of Diluted Earning Per Share	Diluted earnings per share computation
		Three months ended March 31,					Nine months ended March 31,
		2015			2014		2015			2014
	Numerator:
	Net (loss) earnings	$	(2,111,867	)	$	2,253,679	$	33,063		$	15,499,542
	Denominator:
	Weighted average number of common shares (basic)		130,198,411			129,275,911		129,994,825			121,979,459
	Dilutive effect of share options		—			1,480,855		436,429			1,545,962
	Dilutive effect of warrants		—			1,087,263		536,571			1,252,000
	Weighted average number of common shares (diluted)		130,198,411			131,844,029		130,967,825			124,777,421
	Diluted earnings per common share	$	(0.02	)	$	0.02	$	0		$	0.12
Schedule of Changes in Stock Option Issued	The changes in stock options issued during the nine months ended March 31, 2015 and the year ended June 30, 2014 are as follows:
		Nine months ended					Year ended
		March 31, 2015					June 30, 2014
		Number of			Weighted		Number of			Weighted
		options			average		options			average
					exercise price					exercise price
					(CDN$)					(CDN$)
	Balance, beginning of period		6,632,500		$	0.61		6,862,500		$	0.81
	Exercised		(922,500	)	$	0.31		—		$	—
	Expired		(1,440,000	)	$	0.55		(230,000	)	$	0.68
	Balance, end of period		4,270,000		$	0.69		6,632,500		$	0.61
Summary of Stock Options Outstanding and Exercisable	The following table summarizes information about stock options outstanding and exercisable at March 31, 2015:
		Options outstanding					Options exercisable
	Exercise price (CDN$)	Number of			Weighted		Number of			Weighted
		options			average		options			average
					remaining life					remaining life
					(years)					(years)
	$0.50 to $0.60		1,657,500			1.95		1,657,500			1.95
	$0.80		2,612,500			1.31		2,612,500			1.31
			4,270,000			1.56		4,270,000			1.56

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	9 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Summary of Fees and Expenses to Related Parties	The Company incurred the following fees and expenses in the normal course of operations at amounts agreed upon between the parties to companies owned by key management and directors. The legal fees are paid to a law firm in which a director is a shareholder and the transportation and marketing costs are paid to Abajo Gas Transmission Company, LLC, the Company’s investment in associate.
		Three months ended				Nine months ended
		March 31,				March 31,
		2015		2014		2015		2014
	Legal fees	$	14,341	$	12,098	$	42,682	$	37,574
	Transportation and marketing costs		8,569		11,704		27,859		23,722
	Total	$	22,910	$	23,802	$	70,541	$	61,296

Financial_Instruments_Tables

Financial Instruments (Tables)	9 Months Ended
	Mar. 31, 2015
Investments, All Other Investments [Abstract]
Summary of Aging of Trade and Other Receivables	The aging of trade and other receivables are as follows:
			March 31, 2015		June 30, 2014
	Trade and other receivables
	0 to 60 days		$	1,381,908	$	3,083,365
	61 to 120 days			8,357		6,762
	> 120 days1			59,652		52,890
			$	1,449,917	$	3,143,017
	1	Utah State withholding taxes on P&NG sales.
Summary of Expected Remaining Contractual Maturities for Financial Liabilities	The following table details the Company’s expected remaining contractual maturities for its financial liabilities. The table is based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Company is required to satisfy the liabilities.
			Total		Less than		One to two			More than
					1 year		years			two years
	Credit facility1		$	27,398,112	$	—	$	27,398,112		$	—
	Trade and other payables			513,457		513,457		—			—
			$	27,911,569	$	513,457	$	27,398,112		$	—
	1	Includes accrued interest of $148,112.
Summary of Currency Risk	As at March 31, 2015, a 10% depreciation or appreciation of the Canadian dollar against the United States dollar would result in an increase or decrease, respectively, in the Company’s earnings or loss by $880,388, based on the net exposures presented below:
			Cash		Trade and		Trade			Net assets		Effect of +/-
					other		and other			exposure		10% change
					receivables		payables					in currency
	Canadian dollar denomination		$	8,966,514	$	12,781	$	(175,420	)	$	8,803,875	$	880,388

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Summary of Supplemental Cash Flow Information	Supplemental Cash Flow Information
		Nine months ended
		March 31,
		2015		2014
	Non-cash financing activities:
	Fair value of stock options transferred to common shares on exercise of stock options	$	205,260	$	—
	Fair value of warrants transferred to common shares on exercise of warrants	$	—	$	3,220,425

Segmented_Information_Tables

Segmented Information (Tables)	9 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Revenues and Capital Assets	The Company’s revenues and capital assets in each of the geographic areas are as follows:
		Canada				USA					Consolidated Total
		2015		2014		2015		2014			2015		2014
	Three months ended March 31,
	Revenue and other income
	Interest Income	$	30,249	$	39,415	$	—	$	—		$	30,249	$	39,415
	Derivative financial instruments gain (loss)		—		—		—		2,898			—		2,898
	Petroleum sales, net of royalties		—		—		2,975,682		4,297,059			2,975,682		4,297,059
	Natural gas sales, net of royalties		—		—		485,205		674,134			485,205		674,134
	Natural gas liquids sales, net of royalties		—		—		238,864		752,325			238,864		752,325
		$	30,249	$	39,415	$	3,699,751	$	5,722,416		$	3,730,000	$	5,765,831
	Nine months ended March 31,
	Revenue and other income
	Interest Income	$	103,539	$	51,511	$	—	$	—		$	103,539	$	51,511
	Derivative financial instruments gain (loss)		—		—		—		(70,440	)		—		(70,440	)
	Petroleum sales, net of royalties		—		—		13,685,536		17,961,450			13,685,536		17,961,450
	Natural gas sales, net of royalties		—		—		1,785,493		1,645,430			1,785,493		1,645,430
	Natural gas liquids sales, net of royalties		—		—		2,122,261		2,255,378			2,122,261		2,255,378
		$	103,539	$	51,511	$	17,593,290	$	21,791,818		$	17,696,829	$	21,843,329
		Canada				USA					Consolidated Total
		March 31,		June 30,		March 31,		June 30,			March 31,		June 30,
		2015		2014		2015		2014			2015		2014
	Property, plant and equipment	$	1,130	$	1,021	$	104,997,556	$	91,811,506		$	104,998,686	$	91,812,527

Trade_and_Other_Receivables_Su

Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Receivables [Abstract]
Accounts receivable - trade	$238	$2,572,762
Accrued receivables	1,364,640	496,947
Sales taxes receivable	85,039	73,308
Total	$1,449,917	$3,143,017

Trade_and_Other_Receivables_Ad

Trade and Other Receivables - Additional Information (Detail) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Receivables [Abstract]
Allowance for doubtful accounts	$0	$0
Accounts receivable owed from one counterparty	$1,320,589	$2,991,585

Investment_in_Associate_Additi

Investment in Associate - Additional Information (Detail) (USD $)	9 Months Ended	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Oct. 31, 2007	Jul. 01, 2010
Investments in and Advances to Affiliates [Line Items]
Investment in associate	$431,919
Abajo Gas Transmission Company, LLC [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership interest percentage	48.00%	48.00%	47.99%
Capital contributions			5,135,000
Investment written off				0
Investment in associate		$431,919
Abajo Gas Transmission Company, LLC [Member] | Minimum [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership interest percentage	50.00%	50.00%
Abajo Gas Transmission Company, LLC [Member] | Northern Prospect Area [Member]
Investments in and Advances to Affiliates [Line Items]
Percentage of revenue and expense from associate			55.00%
Abajo Gas Transmission Company, LLC [Member] | Southern Prospect Area [Member]
Investments in and Advances to Affiliates [Line Items]
Percentage of revenue and expense from associate			25.00%

Property_Plant_and_Equipment_S

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Property plant and equipment, cost	$153,164,960	$131,384,817
Property plant and equipment, Accumulated Depletion, Depreciation and Impairment	-48,166,274	-39,572,290
Property plant and equipment, net	104,998,686	91,812,527
Petroleum and Natural Gas Properties [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, cost	153,162,908	131,379,997
Property plant and equipment, Accumulated Depletion, Depreciation and Impairment	-48,165,352	-39,568,491
Property plant and equipment, net	104,997,556	91,811,506
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, cost	2,052	4,820
Property plant and equipment, Accumulated Depletion, Depreciation and Impairment	-922	-3,799
Property plant and equipment, net	1,130	1,021
Proved [Member] | Petroleum and Natural Gas Properties [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, cost	117,301,312	100,407,384
Property plant and equipment, Accumulated Depletion, Depreciation and Impairment	-20,929,259	-12,781,939
Property plant and equipment, net	96,372,053	87,625,445
Exploratory Well Costs [Member] | Petroleum and Natural Gas Properties [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, cost	35,861,596	30,972,613
Property plant and equipment, Accumulated Depletion, Depreciation and Impairment	-27,236,093	-26,786,552
Property plant and equipment, net	$8,625,503	$4,186,061

Property_Plant_and_Equipment_A

Property, Plant and Equipment - Additional Information (Detail) (USD $)	3 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]
Immaterial adjustment of suspended exploratory well costs	$449,541

Credit_Facility_Additional_Inf

Credit Facility - Additional Information (Detail) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Apr. 01, 2015
Line of Credit Facility [Line Items]
Revolving line of credit	$100
Borrowing base of credit facility	40
Credit facility drawn down	27.3
Credit facility expiration period	31-Aug-16
Subsequent Event [Member]
Line of Credit Facility [Line Items]
Borrowing base of credit facility		$37.50
Minimum [Member]
Line of Credit Facility [Line Items]
Minimum interest rate	3.50%
Minimum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate	3.00%
Minimum [Member] | Prime Rate [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate	2.00%
Maximum [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate	3.50%
Maximum [Member] | Prime Rate [Member]
Line of Credit Facility [Line Items]
Credit facility interest rate	2.50%

Shareholders_Equity_Schedule_o

Shareholders' Equity - Schedule of Changes in Warrants Outstanding (Detail) (Warrants [Member], CAD)	12 Months Ended
	Jun. 30, 2014	Mar. 31, 2015
Warrants [Member]
Class of Warrant or Right [Line Items]
Number of warrants, beginning balance	27,415,760	7,512,000
Number of warrants, exercised	-18,770,391
Number of warrants, expired	-1,133,369
Number of warrants, ending balance	7,512,000	7,512,000
Weighted average exercise price, beginning balance	0.69	0.65
Weighted average exercise price, exercised	0.7
Weighted average exercise price, expired	0.7
Weighted average exercise price, ending balance	0.65	0.65

Shareholders_Equity_Additional

Shareholders' Equity - Additional Information (Detail) (CAD)	9 Months Ended	3 Months Ended		9 Months Ended	12 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014	Jun. 30, 2014	4-May-15
Class of Warrant or Right [Line Items]
Stock options exercised, weighted average share price	0.92
Maximum [Member]
Class of Warrant or Right [Line Items]
Percentage that may be reserved for issuance pursuant to the exercise of stock options	10.00%
Term of stock options granted	10 years
Warrants [Member]
Class of Warrant or Right [Line Items]
Weighted average share price, warrants					0.79
Warrants, expired and unexercised					1,133,369
Share options that are not dilutive	0	7,512,000	0	0
Warrants [Member] | Subsequent Event [Member]
Class of Warrant or Right [Line Items]
Warrants, expired and unexercised						5,079,500
Share Options [Member]
Class of Warrant or Right [Line Items]
Share options that are not dilutive	2,612,500	4,270,000	2,620,000	2,620,000

Shareholders_Equity_Schedule_o1

Shareholders' Equity - Schedule of Warrants Exercisable and Outstanding (Detail) (Warrants [Member], CAD)	12 Months Ended	9 Months Ended
	Jun. 30, 2014	Mar. 31, 2015	Jun. 30, 2013
Class of Warrant or Right [Line Items]
Warrants, Exercise Price	0.7
Warrants, Outstanding	7,512,000	7,512,000	27,415,760
May 4, 2015 [Member]
Class of Warrant or Right [Line Items]
Warrants expiry date		4-May-15
Warrants, Exercise Price		0.65
Warrants, Outstanding		5,079,500
May 18, 2015 [Member]
Class of Warrant or Right [Line Items]
Warrants expiry date		18-May-15
Warrants, Exercise Price		0.65
Warrants, Outstanding		2,432,500

Shareholders_Equity_Computatio

Shareholders' Equity - Computation of Diluted Earning Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Net (loss) earnings	($2,111,867)	$2,253,679	$33,063	$15,499,542
Denominator:
Weighted average number of common shares (basic)	130,198,411	129,275,911	129,994,825	121,979,459
Dilutive effect of share options		1,480,855	436,429	1,545,962
Dilutive effect of warrants		1,087,263	536,571	1,252,000
Weighted average number of common shares (diluted)	130,198,411	131,844,029	130,967,825	124,777,421
Diluted earnings per common share	($0.02)	$0.02	$0	$0.12

Shareholders_Equity_Schedule_o2

Shareholders' Equity - Schedule of Changes in Stock Option Issued (Detail) (CAD)	9 Months Ended	12 Months Ended
	Mar. 31, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options Outstanding, Weighted Average Exercise Price, and Additional Disclosures [Abstract]
Number of options, beginning balance	6,632,500	6,862,500
Number of options, exercised	-922,500
Number of options, expired	-1,440,000	-230,000
Number of options, ending balance	4,270,000	6,632,500
Weighted average exercise price, beginning balance	0.61	0.81
Weighted average exercise price, exercised	0.31
Weighted average exercise price, expired	0.55	0.68
Weighted average exercise price, ending balance	0.69	0.61

Shareholders_Equity_Summary_of

Shareholders' Equity - Summary of Stock Options Outstanding and Exercisable (Detail) (CAD)	9 Months Ended
	Mar. 31, 2015
Schedule Of Stock Option Activity [Line Items]
Options outstanding, number of options	4,270,000
Options outstanding, Weighted average remaining life (years)	1 year 6 months 22 days
Options exercisable, number of options	4,270,000
Options exercisable, weighted average remaining life(years	1 year 6 months 22 days
Exercise Price Range $0.50 to $0.60 [Member]
Schedule Of Stock Option Activity [Line Items]
Exercise price, Lower Limit	0.5
Exercise price, Upper Limit	0.6
Options outstanding, number of options	1,657,500
Options outstanding, Weighted average remaining life (years)	1 year 11 months 12 days
Options exercisable, number of options	1,657,500
Options exercisable, weighted average remaining life(years	1 year 11 months 12 days
Exercise Price Range $0.80 [Member]
Schedule Of Stock Option Activity [Line Items]
Exercise price, Upper Limit	0.8
Options outstanding, number of options	2,612,500
Options outstanding, Weighted average remaining life (years)	1 year 3 months 22 days
Options exercisable, number of options	2,612,500
Options exercisable, weighted average remaining life(years	1 year 3 months 22 days

Related_Party_Transactions_Sum

Related Party Transactions - Summary of Fees and Expenses to Related Parties (Detail) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Total	$22,910	$23,802	$70,541	$61,296
Law Firm [Member]
Related Party Transaction [Line Items]
Legal fees	14,341	12,098	42,682	37,574
Abajo Gas Transmission Company, LLC [Member]
Related Party Transaction [Line Items]
Transportation and marketing costs	$8,569	$11,704	$27,859	$23,722

Related_Party_Transactions_Add

Related Party Transactions - Additional Information (Detail) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Related Party Transactions [Abstract]
Trade and other payables owing to related parties	$7,760	$47,014

Financial_Instruments_Addition

Financial Instruments - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Apr. 01, 2015
	USD ($)	CAD	Subsequent Event [Member]
			bbl
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Barrels of fuel covered under derivative contracts			9,000
Strike price per barrel			50
Depreciation or appreciation, foreign currency translation adjustment, percent	10.00%	10.00%
Increase or decrease in earnings or loss, due to depreciation or appreciation of currency	$880,388	880,388

Financial_Instruments_Summary_

Financial Instruments - Summary of Aging of Trade and Other Receivables (Detail) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Trade and other receivables
0 to 60 days	$1,381,908	$3,083,365
61 to 120 days	8,357	6,762
> 120 days	59,652	52,890
Total	$1,449,917	$3,143,017

Financial_Instruments_Summary_1

Financial Instruments - Summary of Expected Remaining Contractual Maturities for Financial Liabilities (Detail) (USD $)	Mar. 31, 2015
Contractual Obligation Fiscal Year Maturity [Line Items]
Total	$27,911,569
Less than 1 year	513,457
One to two years	27,398,112
More than two years	0
Trade and Other Payables [Member]
Contractual Obligation Fiscal Year Maturity [Line Items]
Total	513,457
Less than 1 year	513,457
More than two years	0
Credit Facility [Member]
Contractual Obligation Fiscal Year Maturity [Line Items]
Total	27,398,112
One to two years	27,398,112
More than two years	$0

Financial_Instruments_Summary_2

Financial Instruments - Summary of Expected Remaining Contractual Maturities for Financial Liabilities (Parenthetical) (Detail) (Credit Facility [Member], USD $)	Mar. 31, 2015
Credit Facility [Member]
Contractual Obligation Fiscal Year Maturity [Line Items]
Accrued Interest	$148,112

Financial_Instruments_Summary_3

Financial Instruments - Summary of Currency Risk (Detail)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2015
	USD ($)	CAD	Cash [Member]	Trade and Other Payables [Member]	Trade Accounts Receivable [Member]
			CAD	CAD	CAD
Cash			8,966,514		12,781
Trade and other payables				-175,420
Net assets exposure		8,803,875
Effect of +/- 10% change in currency	$880,388	880,388

Financial_Instruments_Summary_4

Financial Instruments - Summary of Currency Risk (Parenthetical) (Detail)	9 Months Ended
	Mar. 31, 2015
Foreign Currency [Abstract]
Depreciation or appreciation, foreign currency translation adjustment, percent	10.00%

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) (USD $)	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Non-cash financing activities:
Fair value of stock options transferred to common shares on exercise of stock options	$205,260
Fair value of warrants transferred to common shares on exercise of warrants		$3,220,425

Segmented_Information_Addition

Segmented Information - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2015
	GeographicalAreas
	Segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of geographic areas considered as reportable operating segments	2

Segmented_Information_Schedule

Segmented Information - Schedule of Revenues and Capital Assets (Detail) (USD $)	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Segment Reporting Information [Line Items]
Derivative financial instruments gain (loss)		$2,898		($70,440)
Revenue and other income	3,730,000	5,765,831	17,696,829	21,843,329
Property, plant and equipment	104,998,686		104,998,686		91,812,527
Interest Income [Member]
Segment Reporting Information [Line Items]
Revenue and other income	30,249	39,415	103,539	51,511
Petroleum [Member]
Segment Reporting Information [Line Items]
Revenue and other income	2,975,682	4,297,059	13,685,536	17,961,450
Natural Gas [Member]
Segment Reporting Information [Line Items]
Revenue and other income	485,205	674,134	1,785,493	1,645,430
Natural Gas Liquids [Member]
Segment Reporting Information [Line Items]
Revenue and other income	238,864	752,325	2,122,261	2,255,378
Canada [Member]
Segment Reporting Information [Line Items]
Revenue and other income	30,249	39,415	103,539	51,511
Property, plant and equipment	1,130		1,130		1,021
Canada [Member] | Interest Income [Member]
Segment Reporting Information [Line Items]
Revenue and other income	30,249	39,415	103,539	51,511
USA [Member]
Segment Reporting Information [Line Items]
Derivative financial instruments gain (loss)		2,898		-70,440
Revenue and other income	3,699,751	5,722,416	17,593,290	21,791,818
Property, plant and equipment	104,997,556		104,997,556		91,811,506
USA [Member] | Petroleum [Member]
Segment Reporting Information [Line Items]
Revenue and other income	2,975,682	4,297,059	13,685,536	17,961,450
USA [Member] | Natural Gas [Member]
Segment Reporting Information [Line Items]
Revenue and other income	485,205	674,134	1,785,493	1,645,430
USA [Member] | Natural Gas Liquids [Member]
Segment Reporting Information [Line Items]
Revenue and other income	$238,864	$752,325	$2,122,261	$2,255,378