ACCOUNTS PAYABLE AND ACCRUED EXPENSES

6 Months Ended

12 Months Ended

Dec. 31, 2016

Jun. 30, 2016

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

3. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

        Accounts payable and accrued expenses as of December 31, 2016 and June 30, 2016 include the following (in thousands):

	December 31, 2016		June 30, 2016
Accounts payable—trade and oil and gas exploration activities	$	601	$	1,361
Accounts payable—legal costs		171		61
Accrued payroll		703		321
		1,475		1,743
Liability for legal settlement (Note 6)		1,308		—
	$	2,783	$	1,743

4. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

        Accounts payable and accrued expenses as of June 30, 2016 and 2015 include the following (in thousands):

	2016		2015
Accounts payable—trade	$	1,361	$	1,157
Accounts payable—legal costs		61		342
Accrued payroll		321		169
	$	1,743	$	1,668

        The single largest payable in the Accounts payable trade balances is for the yearly Director & Officer Insurance renewal and was $1.3 million and $1.1 million for 2016 and 2015, respectively.