CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015
Current assets:
Cash and cash equivalents	$ 14,367	$ 18,374
Accounts receivable - joint interest	125	73
Prepaid expenses	588	1,170
Other current assets	16	8
Total current assets	15,096	19,625
Property and equipment, net of accumulated depreciation of $2,022 and $1,983	104	160
Unproved oil and gas properties excluded from amortization (Full-Cost Method)	14,331	14,311
Total property and equipment and unproved oil and gas properties, net	14,435	14,471
Total assets	29,531	34,096
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities - Accounts payable and accrued expenses	$ 676	$ 1,668
Commitments and contingencies (Note 6)
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	317,593	317,404
Accumulated deficit	(288,907)	(285,145)
Total shareholders' equity	28,855	32,428
Total liabilities and shareholders' equity	$ 29,531	$ 34,096