Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2014
Jun. 30, 2013
CURRENT ASSETS:    
Cash and cash equivalents $ 16,422 $ 32,469
Securities available-for-sale 11,935 44
Accounts receivable — trade 886 852
Inventories 739 555
Prepaid and other assets 2,105 1,378
Total current assets 32,087 35,298
PROPERTY AND EQUIPMENT, NET (SUCCESSFUL EFFORTS METHOD):    
Proved oil and gas properties 29,335 35,377
Less accumulated depletion, depreciation, amortization, and accretion (3,575) (5,814)
Unproved oil and gas properties 550 5,312
Wells in progress 21,296 923
Land, buildings, and equipment (net of accumulated depreciation of $483 and $1,810 as of June 30, 2014, and 2013, respectively) 368 1,382
Net property and equipment 47,974 37,180
OTHER NON-CURRENT ASSETS:    
Goodwill 1,174 2,174
Deferred income taxes 0 7,217
Other long term assets 200 403
Total other non-current assets 1,374 9,794
Total assets 81,435 82,272
CURRENT LIABILITIES:    
Short term line of credit 0 51
Current portion of note payable 0 390
Current portion of asset retirement obligations 397 476
Accounts payable 3,586 1,948
Accrued and other liabilities 2,121 2,757
Accrued dividends 429 202
Total current liabilities 6,533 5,824
LONG TERM LIABILITIES:    
Asset retirement obligations 2,476 6,403
Contingent consideration payable 1,852 3,940
Other long term liabilities 118 163
Total long term liabilities 4,446 10,506
COMMITMENTS AND CONTINGENCIES (Note 14)      
Preferred Stock, Value, Outstanding 24,539 23,502
EQUITY:    
Common stock (par value $0.01 per share): Authorized 300,000,000 shares, issued, 55,004,838 and 54,057,159 as of June 30, 2014, and 2013, respectively 550 540
Treasury stock (at cost): 9,425,114 and 9,414,176 shares as of June 30, 2014 and 2013, respectively (9,344) (9,333)
Capital in excess of par value 92,986 90,786
Accumulated deficit (36,266) (50,079)
Accumulated other comprehensive (loss) income (2,009) 10,526
Total equity attributable to common stockholders 45,917 42,440
Total liabilities, preferred stock and equity 81,435 82,272
Series A Preferred Stock
    
CURRENT LIABILITIES:    
Accrued dividends 429 202
LONG TERM LIABILITIES:    
Preferred Stock, Value, Outstanding $ 24,539 $ 23,502