CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (13,392)	$ (17,117)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	237	400
Gain on legal settlement		(10,734)
Stock based compensation	644	525
Amortization of premium on short term investments		158
Unrealized gain (loss) on available-for-sale securities		25
Loss on sale of securities		69
Changes in operating assets and liabilities:
(Increase) decrease in Accounts receivable - joint interest	(8)	689
(Increase) decrease in Prepaid expenses	(338)	(195)
(Increase) decrease in Other current assets	6	38
Increase (decrease) in Accounts payable and accrued expenses	(3,982)	3,534
Decrease in Other liabilities		(92)
Net cash used in operating activities	(16,833)	(22,700)
CASH FLOWS FROM INVESTING ACTIVITIES:
(Purchase) sale of property and equipment	1	(89)
Investment in oil and gas properties	(64)	(1,333)
Decrease (Increase) in restricted cash		17,699
(Purchase) Maturity of short term investments		15,225
Net cash provided by (used in) investing activities	(63)	31,502
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(16,896)	8,802
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,270	26,468
CASH AND CASH EQUIVALENTS AT END OF PERIOD	18,374	35,270
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Accounts payable for oil and gas property	$ (12)	(1,439)
Accounts payable relating to legal settlement		$ 19,035