CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,454)	$ (6,190)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	110	183
Full amortization of proved oil and gas properties		441
Stock based compensation	284	1,214
Amortization of premium on short term investments	212
Changes in operating assets and liabilities:
Decrease in accounts receivable - joint interest	165	783
Decrease in Prepaid expenses	178	153
Decrease in Other current assets	37	3,473
Increase (decrease) in Accounts payable and accrued expenses	1,609	(3,381)
Decrease in Other liabilities	(12)	(6)
Net cash used in operating activities	(1,871)	(3,330)
CASH FLOWS FROM INVESTING ACTIVITIES:
(Purchase) sale of property and equipment	(108)	30
Investment in unevaluated oil and gas properties	(1,351)	(1,075)
Net cash used in investing activities	(1,459)	(1,045)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options		358
Net cash provided by financing activities		358
DECREASE IN CASH AND CASH EQUIVALENTS	(3,330)	(4,017)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	26,468	37,148
CASH AND CASH EQUIVALENTS AT END OF PERIOD	23,138	33,131
SUPPLEMENTAL DISCLOSURES:
Interest paid in cash, net of amounts capitalized	0
Income taxes paid in cash	0
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Accounts payable (receivable) for oil and gas properties	$ (289)	$ 630