INVESTMENT IN OIL AND GAS PROPERTIES (Tables)

12 Months Ended

Jun. 30, 2017

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Schedule of allocation of revenue after recovery cost of operations

After recovery cost of operations, revenue will be split as outlined in the table below:

Dailyproduction (b/d)	GuineaShare		Contractor Share
From 0 to 2,000	25	%	75	%
From 2,001 to 5,000	30	%	70	%
From 5,001 to 100,000	41	%	59	%
Over 100,001	60	%	40	%

Schedule of total capitalized costs of oil and gas properties

Aggregate capitalized costs relating to our crude oil and natural gas producing activities, including asset retirement costs and related accumulated depreciation, depletion & amortization are shown below (in thousands):

	United		Republicof
	States		Guinea		Total
June 30, 2017
Unproved properties	$	—	$	—	$	—
Proved properties		—		—		—
		—		—		—
Less accumulated DD&A		—		—		—
Net capitalized costs	$	—	$	—	$	—
June 30, 2016
Unproved properties	$	—	$	—	$	—
Proved properties		—		—		—
		—		—		—
Less accumulated DD&A		—		—		—
Net capitalized costs	$	—	$	—	$	—

Guinea Concession

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Schedule of total capitalized costs of oil and gas properties

The following table provides detail of total capitalized costs for our Guinea Concession as of June 30, 2017 and 2016 (in thousands):

	June 30,		June 30,
	2017		2016
Oil and Gas Properties:
Unproved oil and gas Properties	$	—	$	—