ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable - trade and oil and gas exploration activities	$ 998	$ 22,208
Accounts payable - joint interest partner share of legal settlement	1,890
Accounts payable - legal costs	2,492	164
Accrued payroll	282	215
Accrued - Other		15
Accounts payable and accrued expenses	$ 5,662	$ 22,602