CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Current assets:
Cash and cash equivalents	$ 18,374	$ 35,270
Accounts receivable - joint interest	73	65
Prepaid expenses	1,170	832
Other current assets	8	14
Total current assets	19,625	36,181
Property and equipment, net of accumulated depreciation of $1,983 and $1,785	160	398
Unproved oil and gas properties excluded from amortization (Full-Cost Method)	14,311	14,259
Total property and equipment and unproved oil and gas properties, net	14,471	14,657
Total assets	34,096	50,838
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities - Accounts payable and accrued expenses	$ 1,668	$ 5,662
Commitments and contingencies (Note 9)
Shareholders' equity:
Preferred stock, $0.001 par value; 20,000,000 authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 43,750,000 shares authorized; 21,046,591 shares issued and outstanding	$ 169	$ 169
Additional paid-in capital	317,404	316,760
Accumulated deficit	(285,145)	(271,753)
Total shareholders' equity	32,428	45,176
Total liabilities and shareholders' equity	$ 34,096	$ 50,838