ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

3 Months Ended

Sep. 30, 2013

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Summary of accounts payable and accrued expenses

Accounts payable and accrued expenses (in thousands) as of September 30, 2013 and June 30, 2013 include the following:

	September 30, 2013		June 30, 2013
Accounts payable — oil and gas exploration activities	$	21,796	$	22,372
Accrued payroll and bonus	761		215
Accrued — Other	16		15
	$	22,573	$	22,602