CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands	Sep. 30, 2011	Jun. 30, 2011
Current assets:
Cash and cash equivalents	$ 39,485	$ 79,889
Available-for-sale securities	54,383	55,368
Accounts receivable - joint interest	3,838	708
Prepaid expenses	793	702
Other current assets	123	149
Total current assets	98,622	136,816
Property and equipment, net of accumulated depreciation of $977 and $798	1,551	1,336
Oil and gas properties:
Unevaluated properties excluded from amortization	53,135	36,200
Restricted cash	34,670	18,300
Deposits	5,031	31
Total assets	193,009	192,683
Current liabilities:
Accounts payable and accrued expenses	5,890	3,116
Total current liabilities	5,890	3,116
Other non-current liabilities	166	138
Total liabilities	6,056	3,254
Commitments and contingencies (Note 9 )
Shareholders' equity:
Preferred stock, par value $0.001; stated value $1,000; 20,000,000 authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 250,000,000 shares authorized; 156,435,857 and 155,792,524 shares issued and outstanding	157	156
Additional paid-in capital	278,682	276,484
Accumulated other comprehensive loss	(648)	(349)
Accumulated deficit	(91,238)	(86,862)
Total shareholders' equity	186,953	189,429
Total liabilities and shareholders' equity	$ 193,009	$ 192,683