Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.5.0.2
Segment Information
 12 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Segment Information
Note 15 - Segment Information
Following the closing of the Exchange, the Company will conduct its operations through two wholly owned subsidiaries. As of March 31, 2016, NP, which included the Company's operations in the United States, has been reclassified to discontinued operations and the carrying value of its assets have been included in assets held for sale for all periods presented. As of June 30, 2016, the Company's operations related to the central Weald licenses and the peripheral Weald license have also been reclassified to discontinued operations, and the carrying value of the related assets have been included in assets held for sale for all periods presented. As of June 30, 2016, the Company's two reportable segments include MPUK, which includes the Company's continuing operations in the UK; and MPA, which includes the Company's operations in Australia. Oversight for these subsidiaries is provided by Corporate, which is treated as a cost center.
The following table presents segment information for the fiscal years ended:
 
June 30,
 
2016
 
2015
 
(In thousands)
Net income (loss) from continuing operations:
 
 
 
MPA
1,497

 
(16,146
)
MPUK
(371
)
 
(1,079
)
Corporate
(4,507
)
 
(4,394
)
Inter-segment eliminations
53

 
23

Consolidated net losses from continuing operations
$
(3,328
)
 
$
(21,596
)
 
 
 
 
Assets:
 
 
 
MPA 
1,194

 
4,593

MPUK (1)
1,234

 
1,067

Corporate
61,315

 
60,733

Inter-segment eliminations (2)
(58,235
)
 
(58,129
)
Consolidated assets of continuing operations
$
5,508

 
$
8,264

 
 
 
 
Expenditures for additions to long-lived assets:
 
 
 
MPUK
—

 
—

Corporate
1

 
3

Consolidated expenditures for long-lived assets of continuing operations
$
1

 
$
3


(1) Refer to Note 22 - Supplemental Oil and Gas Information (Unaudited) for disclosures relating to non-cash charges to capitalized costs.
(2) Asset inter-segment eliminations are primarily derived from investments in subsidiaries.
The following table summarizes other significant items for the fiscal years ended:
 
June 30,
 
2016
 
2015
 
(In thousands)
Depreciation:
 
 
 
Corporate
54

 
148

Consolidated depreciation
$
54

 
$
148

 
 
 
 
Exploration:
 
 
 
MPA
53

 
91

MPUK
18

 
148

Consolidated exploration
$
71

 
$
239