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INVESTMENT IN OIL AND GAS PROPERTIES (Details) (USD $)
3 Months Ended 9 Months Ended 1 Months Ended 9 Months Ended 1 Months Ended 9 Months Ended
Mar. 31, 2013
Sep. 30, 2012
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Jun. 30, 2012
Mar. 31, 2013
Dana
Mar. 31, 2013
Tullow Guinea Ltd
Nov. 20, 2012
Tullow Guinea Ltd
Dec. 31, 2012
SCS
Mar. 31, 2013
Maximum
Mar. 31, 2013
Minimum
Dec. 31, 2012
Minimum
SCS
m
Jun. 30, 2010
3D Seismic Contract with PGS
sqkm
Mar. 31, 2013
3D Seismic Contract with PGS
Mar. 31, 2013
3D Seismic Contract with Veritas
sqkm
Mar. 31, 2013
Guinea concession
bbl
Dec. 30, 2012
Guinea concession
Feb. 29, 2012
Guinea concession
Investments in oil and gas properties                                      
Ownership interest in Guinea Concession (as a percent)             23.00% 40.00%                 37.00% 77.00% 77.00%
Capitalized costs $ 500,000   $ 2,000,000 $ 2,800,000 $ 5,500,000                            
Reserves                                 0    
Oil and Gas Properties:                                      
Proved Oil and Gas Properties 116,753,000     116,753,000   116,312,000                     116,800,000    
Unproved Oil and Gas Properties 13,152,000     13,152,000   32,469,000                          
Other Equipment Costs 6,809,000     6,809,000   6,809,000                          
Total oil and gas properties 136,714,000     136,714,000   155,590,000                          
Less- accumulated depreciation, depletion and amortization (116,753,000)     (116,753,000)   (116,312,000)                     116,800,000    
Unevaluated properties excluded from amortization 19,961,000     19,961,000   39,278,000                          
Geological and geophysical cost                             4,100,000        
Expected evaluation activities period for unproved properties                     3 years 1 year              
Additional well related costs recognized   400,000                                  
Area of 3D seismic survey acquired                           3,635   4,000      
Ownership interest sold (as a percent)                   40.00%                  
Consideration of sale of interest in PSC                   27,000,000                  
Depth of exploration well to be drilled                         2,000            
Gross expenditure for an exploration well to be paid by Tullow as additional consideration                   100,000,000                  
Gross expenditure for an appraisel well to be paid by Tullow as additional consideration                   100,000,000                  
Percentage of participating interest share of costs associated with the concession obligated to be paid                 40.00%                    
Period through which additional consideration is to be paid by Tullow                   90 days                  
Transaction costs       $ 3,128,000           $ 3,100,000