CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016
Current assets:
Cash and cash equivalents	$ 6,710	$ 10,327
Prepaid expenses	967	1,294
Other current assets	11	6
Total current assets	7,688	11,627
Property and equipment, net of accumulated depreciation of $2,087 and $2,075	37	51
Unproved oil and gas properties excluded from amortization (Full-Cost Method)	4,733
Total property and equipment and unproved oil and gas properties, net	4,770	51
Total assets	12,458	11,678
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities - Accounts payable and accrued expenses	1,331	1,743
Commitments and contingencies (Note 2 and 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; 21,066,591 and 21,046,591 shares issued and outstanding, respectively	169	169
Additional paid-in capital	317,805	317,757
Accumulated deficit	(306,847)	(307,991)
Total shareholders' equity	11,127	9,935
Total liabilities and shareholders' equity	$ 12,458	$ 11,678