Annual report pursuant to Section 13 and 15(d)

Income Taxes - Deferred Tax Assets and Liabilities (Details)

v2.4.0.6
Income Taxes - Deferred Tax Assets and Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2012
Jun. 30, 2011
Deferred tax liabilities    
Land, buildings and equipment $ (2,767) $ 0
Stepped up basis of oil and gas properties (550) (690)
Australian petroleum resource rent tax - income tax effect (1,785) 0
Other (261) (901)
Total deferred tax liabilities (5,363) (1,591)
Deferred tax assets    
Acquisition and development costs 0 3,234
Asset retirement obligations 2,210 2,993
Net operating losses, capital losses, and foreign tax credit carry forwards 28,139 12,188
Australian petroleum resource rent tax 5,951 0
United Kingdom exploration costs and net operating losses 3,224 2,358
Stock option compensation 1,851 1,673
Interest 539 539
Australian capitalized legal costs 514 426
Other 579 521
Total deferred tax asset 43,007 23,932
Valuation allowance (31,693) (22,341)
Net long term deferred tax asset $ 5,951 $ 0