ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)

6 Months Ended

Dec. 31, 2014

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Summary of accounts payable and accrued expenses

Accounts payable and accrued expenses (in thousands) as of December 31, 2014 and June 30, 2014 include the following:

	December 31,  2014		June 30,  2014
Accounts payable — trade and oil and gas exploration activities	$	156	$	998
Accounts payable — joint interest partner share of legal settlement	—		1,890
Accounts payable — legal costs	1,761		2,492
Accrued payroll and bonus	383		282
	$	2,300	$	5,662