Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Operations

v2.4.0.8
Consolidated Statement of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
REVENUES:    
Oil production $ 6,131 $ 12,405
Gas production 939 1,307
Total revenues 7,070 13,712
OPERATING EXPENSES (INCOME):    
Lease operating 7,037 12,897
Depletion, depreciation, amortization, and accretion 1,534 1,744
Exploration 8,267 6,291
General and administrative 11,829 13,091
Impairment 890 328
Gain on sale of assets 0 (40,413)
Total operating expense (income) 29,557 (6,062)
(LOSS) INCOME FROM OPERATIONS (22,487) 19,774
OTHER INCOME:    
Net interest income 624 749
Other income 830 9
Total other income 1,454 758
(LOSS) INCOME BEFORE INCOME TAX (21,033) 20,532
Income tax benefit 1,266 5,951
(LOSS) INCOME AFTER INCOME TAX (19,767) 26,483
Net loss attributable to non-controlling interest in subsidiaries 0 15
NET (LOSS) INCOME APPLICABLE TO MAGELLAN PETROLEUM CORPORATION (19,767) 26,498
Preferred stock dividend and accretion of preferred stock (722) 0
NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (20,489) $ 26,498
(Loss) Earnings per common share (Note 10):    
Weighted average number of basic shares outstanding 49,642,083 53,592,958
Weighted average number of diluted shares outstanding 49,642,083 54,041,227
Net (loss) income per basic share outstanding (dollars per share) $ (0.41) $ 0.49
Net (loss) income per diluted share outstanding (dollars per share) $ (0.41) $ 0.49