XML 48 R36.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVESTMENT IN OIL AND GAS PROPERTIES (Details)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Aug. 19, 2016
USD ($)
km²
item
m
Dec. 31, 2012
USD ($)
Mar. 25, 2010
USD ($)
mi²
km²
m
Dec. 31, 2009
Sep. 30, 2013
Feb. 29, 2012
m
Mar. 31, 2016
USD ($)
Mar. 31, 2016
USD ($)
Jun. 30, 2016
USD ($)
km²
bbl / d
m
bbl
Jun. 30, 2013
USD ($)
bbl
Jun. 30, 2015
USD ($)
Dec. 30, 2012
Dec. 27, 2012
May 20, 2010
Mar. 25, 2010
$ / km²
Mar. 25, 2010
Mar. 25, 2010
km²
Investments in oil and gas properties                                  
Reserves | bbl                 0                
Full Impairment of unproved oil and gas properties             $ 14,331,000 $ 14,331,000 $ 14,331,000                
Oil and Gas Properties:                                  
Unproved Oil and Gas Properties                     $ 14,311,000            
Unproved properties not subject to amortization                     14,311,000            
Guinea concession                                  
Investments in oil and gas properties                                  
Ownership interest in Guinea Concession (as a percent)   37.00%             37.00%     77.00%          
Contract area retained (in square kilometers/square miles)     9,650                           25,000
Contract area retained as percentage of original contract area                               30.00%  
Relinquishment of contract area retained as percentage of original contract area       70.00%                          
Contract area retained as percentage of original contract area, required to be relinquished under PSC     25.00%                            
Current contract area | km²                 18,750                
Minimum depth to be reached to satisfy work requirement | m                 2,500                
Guinea's share of cost and profit oil (as a percent)                               62.50%  
Annual training budget to be established, for the benefit of Guinea's oil industry personnel     $ 200,000                            
Annual surface tax, obligated to pay (in dollars per square kilometers) | $ / km²                             2.00    
Royalty interest to Guinea as percentage of production                 10.00%                
Percentage of revenue after royalty                 90.00%                
Guinea's share in revenue, during the first production, after recovery cost of operations (as a percent)                 75.00%                
Contractor share in revenue, during the first production, after recovery cost of operations (as a percent)                 25.00%                
Gross expenditure cap                 $ 100,000,000                
Gross expenditure for an appraisal well to be paid by Tullow as additional consideration                 100,000,000                
Threshold gross expenditure cap for well to be paid by the entity                 $ 100,000,000                
Period through which additional consideration is to be paid by Tullow                 90 days                
Transaction costs   $ 3,300,000                              
Reserves | bbl                   0              
Full-Cost Ceiling Test written-down                   $ 116,800,000              
Full Impairment of unproved oil and gas properties                 $ 14,331,000                
Increase in property balance resulting from capitalized cost adjustment                 $ 20,000                
Oil and Gas Properties:                                  
Unproved Oil and Gas Properties                     14,311,000            
Unproved properties not subject to amortization                     $ 14,311,000            
Ownership interest (as a percent)   37.00%             37.00%     77.00%          
Guinea concession | Tullow Guinea Ltd                                  
Investments in oil and gas properties                                  
Ownership interest sold (as a percent)   40.00%                     40.00%        
Consideration of sale of interest in PSC   $ 27,000,000                              
Guinea concession | Dana                                  
Investments in oil and gas properties                                  
Ownership interest sold (as a percent)                           23.00%      
Guinea concession | Dana                                  
Investments in oil and gas properties                                  
Ownership interest in Guinea Concession (as a percent)                 23.00%                
Oil and Gas Properties:                                  
Ownership interest (as a percent)                 23.00%                
Guinea concession | Tullow Guinea Ltd                                  
Investments in oil and gas properties                                  
Ownership interest in Guinea Concession (as a percent)   40.00%             40.00%                
Oil and Gas Properties:                                  
Ownership interest (as a percent)   40.00%             40.00%                
Guinea concession | Minimum                                  
Investments in oil and gas properties                                  
Depth below seabed required to be drilled of an exploration well (in meters) | m     2,500                            
Expenditure required on each exploration well     $ 15,000,000                            
Aggregate expenditure required on exploration wells     $ 30,000,000                            
Area of 3D seismic required to be acquired (in square kilometers) | km²     2,000                            
Expenditure on acquisition of 3D seismic required to be acquired     $ 12,000,000                            
Guinea concession | Maximum                                  
Investments in oil and gas properties                                  
Extension of exploration period allowable to allow the completion of a well in process         1 year                        
Extension of exploration period allowable to allow the completion of appraisal of discovery made         2 years                        
Guinea's participating interest in development of discovery as percentage of costs                               15.00%  
Guinea concession | Subsequent event                                  
Investments in oil and gas properties                                  
Ownership interest in Guinea Concession (as a percent) 100.00%                                
Contract area retained (in square kilometers/square miles) | km² 5,000                                
Depth below seabed required to be drilled of an exploration well (in meters) | m 2,500                                
Oil and Gas Properties:                                  
Extension period for second exploration (in years) 1 year                                
Number of exploratory well in extension period | item 1                                
Amount receivable, if extension well not drilled $ 46,000,000                                
Notice period for termination (in days) 30 days                                
Mutually acceptable security $ 5,000,000                                
Estimated amount to limit cost recovery to share of expenditures 150,000,000                                
Agreed amount in training budget 250,000                                
Estimated amount of unused portion of training program $ 500,000                                
Ownership interest (as a percent) 100.00%                                
Guinea concession | From 0 to 2,000                                  
Investments in oil and gas properties                                  
Guinea's share in revenue, after recovery cost of operations (as a percent)                 25.00%                
Contractor share in revenue, after recovery cost of operations (as a percent)                 75.00%                
Guinea concession | From 0 to 2,000 | Minimum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 0                
Guinea concession | From 0 to 2,000 | Maximum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 2,000                
Guinea concession | From 2,001 to 5,000                                  
Investments in oil and gas properties                                  
Guinea's share in revenue, after recovery cost of operations (as a percent)                 30.00%                
Contractor share in revenue, after recovery cost of operations (as a percent)                 70.00%                
Guinea concession | From 2,001 to 5,000 | Minimum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 2,001                
Guinea concession | From 2,001 to 5,000 | Maximum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 5,000                
Guinea concession | From 5,001 to 100,000                                  
Investments in oil and gas properties                                  
Guinea's share in revenue, after recovery cost of operations (as a percent)                 41.00%                
Contractor share in revenue, after recovery cost of operations (as a percent)                 59.00%                
Guinea concession | From 5,001 to 100,000 | Minimum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 5,001                
Guinea concession | From 5,001 to 100,000 | Maximum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 100,000                
Guinea concession | Over 100,001                                  
Investments in oil and gas properties                                  
Guinea's share in revenue, after recovery cost of operations (as a percent)                 60.00%                
Contractor share in revenue, after recovery cost of operations (as a percent)                 40.00%                
Guinea concession | Over 100,001 | Minimum                                  
Investments in oil and gas properties                                  
Daily production (in barrels per day) | bbl / d                 100,001                
Sabu-1 well | Minimum                                  
Investments in oil and gas properties                                  
Depth below seabed required to be drilled of an exploration well (in meters) | m           2,500