CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	9 Months Ended
Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (10,518)	$ (21,042)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	204	318
Stock based compensation	483us-gaap_StockOptionPlanExpense	559us-gaap_StockOptionPlanExpense
Amortization of premium on short term investments		210
Unrealized gain on available-for-sale securities		25
Loss on sale of securities		69us-gaap_GainLossOnSaleOfSecuritiesNet
Changes in operating assets and liabilities:
Decrease in accounts receivable - joint interest	36	754
Decrease in Prepaid expenses	599	472
Decrease in Other current assets	6	39
Increase (decrease) in Accounts payable and accrued expenses	(3,614)	4,453
Decrease in Other liabilities		(25)
Net cash used in operating activities	(12,804)	(14,168)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(3)	(94)
Investment in unproved oil and gas properties	(64)	(1,262)
Maturity of short term investments		15,173
Net cash provided by (used in) investing activities	(67)	13,817
DECREASE IN CASH AND CASH EQUIVALENTS	(12,871)	(351)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	35,270	26,468
CASH AND CASH EQUIVALENTS AT END OF PERIOD	22,399	26,117
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Decrease in Accounts payable for oil and gas properties	$ 12	$ 45

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