Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended 14 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
OPERATING ACTIVITIES:      
Net income (loss) after income tax $ (12,594) $ (3,632)  
Adjustments to reconcile net loss to net cash used in operating activities      
Foreign transaction (gain) loss 36 (942)  
Depletion, depreciation and amortization 649 841  
Interest earned on restricted deposits 0 (24)  
Fair value increase of contingent consideration payable 161 81  
Deferred income taxes (658) 0  
Gain on disposal of assets 0 (4,010)  
Stock based compensation 606 886  
Impairment loss 890 0  
Severance Costs 755 0  
Net changes in operating assets and liabilities:      
Accounts receivable 305 1,757  
Inventories (42) (796)  
Prepayments and other current assets 6 (163)  
Accounts payable and accrued liabilities 886 (1,894)  
Other long term liabilities (14) (17)  
Income taxes payable 0 61  
Net cash (used in) provided by operating activities (9,014) (7,852)  
INVESTING ACTIVITIES:      
Additions to property and equipment (1,070) (3,213)  
Proceeds from sale of assets 0 5,001  
Purchase of working interest in Poplar 0 (823)  
Refund (Payment) of Deposit for Purchase of Evans shoal (includes interest) 0 10,940  
Securities purchased 0 (2,600)  
Net cash provided by (used in) investing activities (1,070) 9,305  
FINANCING ACTIVITIES:      
Proceeds from issuance of stock 0 35  
Payments for Repurchase of Common Stock (137) 0 (137)
Short term debt issuances 1,450 3,800  
Short term debt repayments (1,315) (3,026)  
Purchase of non-controlling interest - Nautilus Poplar LLC 0 (3,461)  
Long term debt repayments (264) (288)  
Net cash (used in) provided by financing activities (266) (2,940)  
Effect of exchange rate changes on cash and cash equivalents 839 (106)  
Net increase (decrease) in cash and cash equivalents (9,511) (1,593)  
Cash and cash equivalents at beginning of period 41,215 20,417  
CASH AND CASH EQUIVALENTS AT END OF PERIOD 31,704 18,824 31,704
Cash Payments:      
Income taxes 0 26  
Interest Paid, net of amount capitalized 27 56  
Supplemental Schedule of Noncash Investing and Financing Activities:      
Unrealized holding gain (loss) (22) (91)  
Revision to estimate of asset retirement obligations (306) 0 (306)
Asset Retirement Obligation, Liabilities Incurred 3    
Accounts payable related to property plant and equipment 109 918  
Purchase of non-controlling interest for Stock and contingent consideration 0 4,729  
Purchase of 3% working interest for stock and contingent consideration $ 0 $ 1,243