Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.0.814
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES:    
Net (loss) income $ (43,411) $ 15,509
Adjustments to reconcile net loss (income) to net cash used in operating activities:    
Foreign transaction loss 635 165
Amortization of deferred finance costs 100 10
Depletion, depreciation, amortization, and accretion 1,149 1,123
Fair value revision of contingent consideration payable (1,888) (2,403)
Accretion expense of contingent consideration payable 36 315
Inventory book to physical adjustment 123 0
Loss on investment in securities 15,087 0
Loss (gain) on disposal of assets 316 (30,012)
Exploration costs previously capitalized 20 733
Stock compensation expense 891 2,009
Impairment of proved oil and gas properties 17,353 0
Impairment of goodwill 674 0
Net changes in operating assets and liabilities:    
Accounts receivable 478 52
Inventories (61) (184)
Prepayments and other current assets (21) (704)
Accounts payable and accrued liabilities (67) 1,719
Net cash used in operating activities of continuing operations (8,586) (11,668)
INVESTING ACTIVITIES:    
Additions to property and equipment (9,073) (20,923)
Utah CO2 option (276) 0
Proceeds from sale of securities 21 0
Proceeds from Amadeus Basin sale 0 18,554
Net cash used in investing activities (9,328) (2,369)
FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 115 201
Purchase of common stock (566) (11)
Purchase of stock options (983) 0
Payment of preferred stock dividend (859) (429)
Payment of deferred financing costs (150) 0
Borrowings (repayments) on line of credit, net 0 0
Short term debt issuances 0 1,000
Short term debt repayments 0 (1,441)
Long term debt issuances 5,500 0
Capital contributions by non-controlling interest 147 0
Net cash provided by (used in) financing activities 3,204 (680)
CASH FLOWS FROM DISCONTINUED OPERATIONS:    
Adjustments to reconcile net loss to net cash used in operating activities of discontinued operations 0 (31)
Net cash used in investing activities of discontinued operations 0 (1,412)
Net cash used in discontinued operations 0 (1,443)
Effect of exchange rate changes on cash and cash equivalents (661) 113
Net decrease in cash and cash equivalents (15,371) (16,047)
Cash and cash equivalents at beginning of period 16,422 32,469
CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,051 16,422
Supplemental disclosure of cash flow information:    
Interest paid 102 18
Interest received (20) (102)
Income taxes paid 0 0
Supplemental schedule of non-cash investing and financing activities:    
Securities available-for-sale received upon sale of Amadeus Basin assets (Note 3) 0 19,147
Unrealized holding loss and foreign currency translation loss on securities available-for-sale (7,684) (7,256)
Change in accounts payable and accrued liabilities related to property and equipment (1,017) 1,315
Preferred stock dividends paid in kind 1,311 1,037
Accrued preferred stock dividends 0 429
Increase in both accrued and other liabilities and prepaid and other assets related to Sopak 105 571
Property contributed for capital contribution of non-controlling interest 102 0
Property contributed for deferred capital contribution of non-controlling interest 98 0
Accrued capital contributions of non-controlling interest $ 168 $ 0