ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

3 Months Ended

Sep. 30, 2014

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Summary of accounts payable and accrued expenses

Accounts payable and accrued expenses (in thousands) as of September 30, 2014 and June 30, 2014 include the following:

	September 30, 2014		June 30, 2014
Accounts payable — trade and oil and gas exploration activities	$	270	$	998
Accounts payable — joint interest partner share of legal settlement	—		1,890
Accounts payable — legal costs	496		2,492
Accrued payroll and bonus	412		282
	$	1,178	$	5,662