CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Current assets:
Cash and cash equivalents	$ 35,270	$ 26,468
Available-for-sale securities		15,383
Accounts receivable - joint interest	65	754
Prepaid expenses	832	637
Other current assets	14	37
Total current assets	36,181	43,279
Property and equipment, net of accumulated depreciation of $1,785 and $1,462	398	710
Unproved oil and gas properties excluded from amortization (Full-Cost method)	14,259	21,174
Total property and equipment and unproved oil and gas properties, net	14,657	21,884
Other Assets:
Restricted cash		19,190
Deposits		15
Total assets	50,838	84,368
Current liabilities:
Accounts payable and accrued expenses	5,662	22,602
Total current liabilities	5,662	22,602
Non-current liabilities		92
Total liabilities	5,662	22,694
Commitments and contingencies (Note 9)
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 shares issued and outstanding	169	169
Additional paid-in capital	316,760	316,235
Accumulated other comprehensive loss		(94)
Accumulated deficit	(271,753)	(254,636)
Total shareholders' equity	45,176	61,674
Total liabilities and shareholders' equity	$ 50,838	$ 84,368