Accounts Payable and Accrued Liabilities

6 Months Ended

12 Months Ended

Sep. 30, 2013

Mar. 31, 2013

Accounts Payable and Accrued Liabilities

Accounts Payable and Accrued Liabilities

Note 8 — Accounts Payable and Accrued Liabilities

Accounts payable and accrued liabilities at September 30, 2013 and March 31, 2013 were comprised of:

	September 30, 2013(thousands)		March 31, 2013(thousands)
	(unaudited)
Drilling/permitting	$	543	$	382
Engineering	1,505		1,796
Private leaseholder obligations	—		1,500
Legal	664		720
Board of Directors’ fees	—		125
Off-take arrangement fee	50		1,588
Accrued interest	—		7,251
Compensation and other	1,866		1,245
Total accounts payable and accrued liabilities	$	4,628	$	14,607

Drilling/permitting and engineering costs are expensed when incurred and are associated with the Holbrook Project. The accrued interest at March 31, 2013 related to the Karlsson and Apollo notes was moved to non-current liabilities with the restructuring of the respective notes in April 2013.

Note 7— Accounts Payable and Accrued Liabilities

Accrued liabilities at March 31, 2013 and 2012 included:

	March 31, 2013		March 31, 2012
	(thousands)		(thousands)
Drilling/permitting	$	140	$	471
Mineral lease obligations	1,500		—
Legal	112		280
Vacation, bonuses and severance pay	982		27
Board of Directors’ fees	125		—
Off-take arrangement fee	1,588		—
Interest on promissory notes	7,229		—
Other	82		66
Total accrued liabilities	$	11,758	$	844

The $1.5 million mineral lease obligation relates to amounts due various owners of private sections in accordance with the Sharing Agreement.  The off-take arrangement fee is the remainder of a one-time fee due to a third-party consulting group.  The interest on promissory notes is comprised of the interest owing under the Karlsson and Apollo notes, all of which is payable within the next 12 months. Refer to Note 8—Debt and Note 18—Subsequent Events for additional information.