QUARTERLY RESULTS (UNAUDITED) (Tables)

12 Months Ended

Jun. 30, 2016

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)

        Shown below are selected unaudited quarterly data for the years ended June 30, 2016 and 2015 (in thousands, except per share data):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2016:
Depreciation	$	28		$	28		$	27		$	26
General, administrative and other operating		1,877			1,829			3,266			1,434
Full impairment of unproved oil and gas properties		—			—			14,331			—
Loss from operations		(1,905	)		(1,857	)		(17,624	)		(1,460	)
Net loss		(1,905	)		(1,857	)		(17,624	)		(1,460	)
Basic and diluted loss per common share:	$	(0.09	)	$	(0.09	)	$	(0.84	)	$	(0.07	)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2015:
Depreciation	$	86		$	69		$	49		$	33
General, administrative and other operating		3,962			3,633			2,721			2,841
Loss from operations		(4,048	)		(3,702	)		(2,770	)		(2,874	)
Net loss		(4,047	)		(3,701	)		(2,770	)		(2,874	)
Basic and diluted loss per common share:	$	(0.19	)	$	(0.18	)	$	(0.13	)	$	(0.14	)