| Oil and Gas Activities |
Note 14 - Oil and Gas Activities (Unaudited)
Costs Incurred in Oil and Gas Producing Activities
Costs incurred in oil and gas property acquisition, exploration, and development activities, whether capitalized or expensed, are summarized as follows:
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
Australia |
|
United Kingdom |
|
Total |
|
(In thousands) |
Fiscal year ended June 30, |
|
|
|
|
|
|
|
2012 |
|
|
|
|
|
|
|
Proved |
$ |
1,606 |
|
|
$ |
5,634 |
|
|
$ |
— |
|
|
$ |
7,240 |
|
Unproved |
945 |
|
|
3,787 |
|
|
— |
|
|
4,732 |
|
Exploration Costs |
2,192 |
|
|
1 |
|
|
5 |
|
|
2,198 |
|
Development Costs |
2,779 |
|
|
— |
|
|
— |
|
|
2,779 |
|
Total, including asset retirement obligation |
$ |
7,522 |
|
|
$ |
9,422 |
|
|
$ |
5 |
|
|
$ |
16,949 |
|
|
|
|
|
|
|
|
|
2011 |
|
|
|
|
|
|
|
Proved |
$ |
380 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
380 |
|
Unproved |
150 |
|
|
— |
|
|
— |
|
|
150 |
|
Exploration Costs |
762 |
|
|
976 |
|
|
3,023 |
|
|
4,761 |
|
Development Costs |
1,971 |
|
|
4 |
|
|
— |
|
|
1,975 |
|
Total, including asset retirement obligation |
$ |
3,263 |
|
|
$ |
980 |
|
|
$ |
3,023 |
|
|
$ |
7,266 |
|
|
|
|
|
|
|
|
|
2010 |
|
|
|
|
|
|
|
Proved |
$ |
13,456 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
13,456 |
|
Exploration Costs |
— |
|
|
714 |
|
|
1,127 |
|
|
1,841 |
|
Development Costs |
314 |
|
|
1,428 |
|
|
— |
|
|
1,742 |
|
Total, including asset retirement obligation |
$ |
13,770 |
|
|
$ |
2,142 |
|
|
$ |
1,127 |
|
|
$ |
17,039 |
|
The net changes in capitalized costs that are currently not being depleted pending the determination of proved reserves can be summarized as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
Australia |
|
United Kingdom |
|
Total |
|
(In thousands) |
Fiscal year ended June 30, |
|
|
|
|
|
|
|
2012 |
|
|
|
|
|
|
|
Balance at beginning of year |
$ |
2,411 |
|
|
$ |
415 |
|
|
$ |
5,259 |
|
|
$ |
8,085 |
|
Additions to capitalized costs |
4,631 |
|
|
3,973 |
|
|
1,369 |
|
|
9,973 |
|
Assets sold or held for sale |
(150 |
) |
|
— |
|
|
— |
|
|
(150 |
) |
Reclassified to producing properties |
(3,772 |
) |
|
— |
|
|
— |
|
|
(3,772 |
) |
Charged to expense |
(1,297 |
) |
|
— |
|
|
(2,106 |
) |
|
(3,403 |
) |
Exchange adjustment |
— |
|
|
— |
|
|
102 |
|
|
102 |
|
Balance at end of year |
$ |
1,823 |
|
|
$ |
4,388 |
|
|
$ |
4,624 |
|
|
$ |
10,835 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
Australia |
|
United Kingdom |
|
Total |
|
(In thousands) |
2011 |
|
|
|
|
|
|
|
Balance at beginning of year |
$ |
314 |
|
|
$ |
415 |
|
|
$ |
3,576 |
|
|
$ |
4,305 |
|
Additions to capitalized costs |
2,406 |
|
|
— |
|
|
1,703 |
|
|
4,109 |
|
Assets sold or held for sale |
— |
|
|
— |
|
|
— |
|
|
— |
|
Reclassified to producing properties |
(277 |
) |
|
— |
|
|
— |
|
|
(277 |
) |
Charged to expense |
(32 |
) |
|
— |
|
|
36 |
|
|
4 |
|
Exchange adjustment |
— |
|
|
— |
|
|
(56 |
) |
|
(56 |
) |
Balance at end of year |
$ |
2,411 |
|
|
$ |
415 |
|
|
$ |
5,259 |
|
|
$ |
8,085 |
|
|
|
|
|
|
|
|
|
2010 |
|
|
|
|
|
|
|
Balance at beginning of year |
$ |
— |
|
|
$ |
3,487 |
|
|
$ |
3,154 |
|
|
$ |
6,641 |
|
Additions to capitalized costs |
314 |
|
|
— |
|
|
608 |
|
|
922 |
|
Assets sold or held for sale |
— |
|
|
(3,072 |
) |
|
— |
|
|
(3,072 |
) |
Reclassified to producing properties |
— |
|
|
— |
|
|
— |
|
|
— |
|
Charged to expense |
— |
|
|
— |
|
|
(232 |
) |
|
(232 |
) |
Exchange adjustment |
— |
|
|
— |
|
|
46 |
|
|
46 |
|
Balance at end of year |
$ |
314 |
|
|
$ |
415 |
|
|
$ |
3,576 |
|
|
$ |
4,305 |
|
At June 30, 2012, the Company had no costs capitalized for exploratory wells in progress for a period of greater than one year after the completion of drilling.
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