CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2013	Jun. 30, 2012
Current assets:
Cash and cash equivalents	$ 41,628	$ 37,148
Available-for-sale securities	5,085
Accounts receivable - joint interest	2,319	1,263
Prepaid expenses	271	753
Other current assets	464	3,559
Total current assets	49,767	42,723
Property and equipment, net of accumulated depreciation of $1,915 and $1,443	830	1,584
Oil and gas properties, using full-cost accounting:
Proved properties	116,753	116,312
Unevaluated properties excluded from amortization	19,961	39,278
Total oil and gas properties	136,714	155,590
Less- accumulated depreciation, depletion and amortization	(116,753)	(116,312)
Oil and gas properties, using full-cost accounting	19,961	39,278
Other Assets:
Restricted cash	19,187	19,180
Deposits	31	31
Total assets	89,776	102,796
Current liabilities:
Accounts payable and accrued expenses	24,267	26,604
Total current liabilities	24,267	26,604
Other non-current liabilities	103	125
Total liabilities	24,370	26,729
Commitments and contingencies (Note 8)
Shareholders' equity:
Preferred stock, $0.001 par value; 20,000,000 authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 350,000,000 shares authorized; 167,697,731 and 166,937,731 shares issued and outstanding, respectively	168	167
Additional paid-in capital	315,470	312,075
Accumulated other comprehensive income (loss)	(5)
Accumulated deficit	(250,227)	(236,175)
Total shareholders' equity	65,406	76,067
Total liabilities and shareholders' equity	$ 89,776	$ 102,796