Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Operations

v3.3.0.814
Consolidated Statement of Operations - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
REVENUES:    
REVENUE FROM OIL PRODUCTION $ 4,459 $ 7,601
OPERATING EXPENSES:    
Lease operating 5,089 6,257
Depletion, depreciation, amortization, and accretion 1,149 1,123
Exploration 1,563 3,484
General and administrative 8,611 9,085
Impairment of proved oil and gas properties 17,353 0
Impairment of goodwill 674 0
Loss on sale of assets 316 0
Total operating expenses 34,755 19,949
Loss from operations (30,296) (12,348)
OTHER (EXPENSE) INCOME:    
Net interest expense (83) (233)
Amortization of deferred financing costs (100) (10)
Loss on investment in securities (15,087) 0
Fair value revision of contingent consideration payable 1,888 2,403
Other income 267 146
Total other (expense) income (13,115) 2,306
Loss from continuing operations, before tax (43,411) (10,042)
Income tax expense 0 0
Loss from continuing operations, net of tax (43,411) (10,042)
Loss from discontinued operations, net of tax 0 (4,461)
Gain on disposal of discontinued operations, net of tax 0 30,012
Net income from discontinued operations 0 25,551
Net (loss) income (43,411) 15,509
Net loss attributable to non-controlling interest in subsidiary 411 0
Net (loss) income attributable to Magellan Petroleum Corporation (43,000) 15,509
Preferred stock dividends (1,740) (1,696)
Net (loss) income attributable to common stockholders $ (44,740) $ 13,813
Earnings per common share:    
Weighted average number of basic shares outstanding 5,710,288 5,671,603
Weighted average number of diluted shares outstanding 5,710,288 5,671,603
Basic (loss) earnings per common share:    
Net loss from continuing operations attributable to Magellan Petroleum Corporation, including preferred stock dividends (usd per share) $ (7.83) $ (2.07)
Net income from discontinued operations (usd per share) 0.00 4.51
Net income (loss) attributable to common stockholders (usd per share) (7.83) 2.44
Diluted (loss) earnings per common share:    
Net loss from continuing operations attributable to Magellan Petroleum Corporation, including preferred stock dividends (usd per share) (7.83) (2.07)
Net income from discontinued operations (usd per share) 0.00 4.51
Net income (loss) attributable to common stockholders (usd per share) $ (7.83) $ 2.44