v3.8.0.1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Costs and expenses:
Depreciation	$ 48	$ 109
General, administrative and other operating	12,323	8,406
Full-Cost ceiling test write-down	13,316	14,331
Loss from operations	(25,687)	(22,846)
Other income (expense):
Gain on legal settlement	4,764
Cost of legal settlement	(1,308)
Unrealized gain on change in warrants derivative liability	705
Total other income (expense)	4,161
Loss before income tax	(21,526)	(22,846)
Income tax	0	0
Net loss	(21,526)	(22,846)
Non-cash preferred dividend	(1,511)
Net loss available to common stockholders	$ (23,037)	$ (22,846)
Basic and diluted loss per common share (in dollars per share)	$ (1.06)	$ (1.09)
Weighted average shares outstanding - basic and diluted (in shares)	21,765,985	21,046,591

Represents general and administrative expenses and other operating expenses during the period.

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The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives.

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Amount of increase (decrease) in the fair value of derivatives recognized in the income statement.

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The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount of gain (loss) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement process.

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The expense recorded to reduce the value of oil and gas assets consisting of proved properties and unproved properties as the estimate of future successful production from these properties is reduced.

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Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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The amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings.

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Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).

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The net result for the period of deducting operating expenses from operating revenues.

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The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders.

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Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).

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