CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014
Current assets:
Cash and cash equivalents	$ 27,255	$ 35,270
Accounts receivable - joint interest	65	65
Prepaid expenses	633	832
Other current assets	10	14
Total current assets	27,963	36,181
Property and equipment, net of accumulated depreciation of $1,866 and $1,785	316	398
Unproved oil and gas properties excluded from amortization (Full-Cost Method)	14,287	14,259
Total property and equipment and unproved oil and gas properties, net	14,603	14,657
Total assets	42,566	50,838
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable and accrued expenses	1,178	5,662
Total current liabilities	1,178	5,662
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 shares issued and outstanding	169	169
Additional paid-in capital	317,019	316,760
Accumulated deficit	(275,800)	(271,753)
Total shareholders' equity	41,388	45,176
Total liabilities and shareholders' equity	$ 42,566	$ 50,838