CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (4,047)	$ (4,454)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	86	110
Stock based compensation	259	284
Amortization of premium on short term investments		212
Changes in operating assets and liabilities:
Decrease in accounts receivable - joint interest		165
Decrease in Prepaid expenses	199	178
Decrease in Other current assets	4	37
Increase (decrease) in Accounts payable and accrued expenses	(4,472)	1,609
Decrease in Other liabilities		(12)
Net cash used in operating activities	(7,971)	(1,871)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(4)	(108)
Investment in unproved oil and gas properties	(40)	(1,351)
Net cash Used in investing activities	(44)	(1,459)
DECREASE IN CASH AND CASH EQUIVALENTS	(8,015)	(3,330)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,270	26,468
CASH AND CASH EQUIVALENTS AT END OF PERIOD	27,255	23,138
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Decrease (Increase) in Accounts payable (receivable) for oil and gas properties and gas properties	$ 12	$ (289)