CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Jun. 30, 2013
Current assets:
Cash and cash equivalents	$ 26,117	$ 26,468
Available-for-sale securities		15,383
Accounts receivable - joint interest		754
Prepaid expenses	161	637
Other current assets	13	37
Total current assets	26,291	43,279
Property and equipment, net of accumulated depreciation of $1,703 and $1,462	480	710
Unproved properties excluded from amortization	21,029	21,174
Other Assets:
Restricted cash	19,197	19,190
Deposits		15
Total assets	66,997	84,368
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities - accounts payable and accrued expenses	25,645	22,602
Other non-current liabilities	67	92
Total liabilities	25,712	22,694
Commitments and contingencies (Note 7)
Shareholders' equity:
Preferred stock, $0.001 par value; 20,000,000 authorized, 0 shares issued and outstanding
Common stock, $0.001 par value, 43,750,000 shares authorized; 21,046,591 and 21,046,591 shares issued and outstanding, respectively	169	169
Additional paid-in capital	316,794	316,235
Accumulated other comprehensive loss		(94)
Accumulated deficit	(275,678)	(254,636)
Total shareholders' equity	41,285	61,674
Total liabilities and shareholders' equity	$ 66,997	$ 84,368