CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (7,748)	$ (12,807)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	155	221
Stock based compensation	317us-gaap_StockOptionPlanExpense	439us-gaap_StockOptionPlanExpense
Amortization of premium on short term investments		201
Changes in operating assets and liabilities:
Decrease in accounts receivable - joint interest		384
Decrease in Prepaid expenses	423	358
(Increase) decrease in Other current assets	(1)	40
Increase (decrease) in Accounts payable and accrued expenses	(3,350)	4,372
Decrease in Other liabilities		(24)
Net cash used in operating activities	(10,204)	(6,816)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(3)	(112)
Investment in unproved oil and gas properties	(44)	(1,523)
Net cash Used in investing activities	(47)	(1,635)
DECREASE IN CASH AND CASH EQUIVALENTS	(10,251)	(8,451)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,270	26,468
CASH AND CASH EQUIVALENTS AT END OF PERIOD	25,019	18,017
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Decrease (Increase) in Accounts payable (receivable) for oil and gas properties and gas properties	$ 12	$ (342)

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