ACCOUNTS PAYABLE AND ACCRUED EXPENSES

6 Months Ended

Dec. 31, 2012

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

3. ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses (in thousands) as of December 31, 2012 and June 30, 2012 include the following:

	December 31, 2012		June 30, 2012
Accounts payable — oil and gas exploration activities	$	24,501	$	21,965
Accrued payroll and bonus	2,335		4,220
Accrued — Other	16		419
	$	26,852	$	26,604