CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Jun. 30, 2014
Current assets:
Cash and cash equivalents	$ 22,399	$ 35,270
Accounts receivable - joint interest	29	65
Prepaid expenses	233	832
Other current assets	8	14
Total current assets	22,669	36,181
Property and equipment, net of accumulated depreciation of $1,975 and $1,785	197	398
Unproved oil and gas properties excluded from amortization (Full-Cost Method)	14,311	14,259
Total property and equipment and unproved oil and gas properties, net	14,508	14,657
Total assets	37,177	50,838
Current Liabilities:
Current Liabilities - Accounts payable and accrued expenses	2,036	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	317,243	316,760
Accumulated deficit	(282,271)	(271,753)
Total shareholders' equity	35,141	45,176
Total liabilities and shareholders' equity	$ 37,177	$ 50,838