Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Operations

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Consolidated Statement of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
REVENUES:        
Oil production $ 1,706 $ 4,633 $ 4,608 $ 10,595
Gas production 231 172 738 1,148
Total revenues 1,937 4,805 5,346 11,743
OPERATING EXPENSES:        
Lease operating 1,472 4,135 5,188 10,412
Depletion, depreciation, amortization, and accretion 342 401 991 1,242
Exploration 2,709 1,625 7,425 3,619
General and administrative 2,780 3,225 9,837 9,083
Impairment 0 0 890 0
Gain on sale of assets 0 (19) 0 (4,029)
Total operating (income) expense 7,303 9,367 24,331 20,327
Income (loss) from operations (5,366) (4,562) (18,985) (8,584)
Other income (expense)        
Net interest income 101 (33) 580 357
Other income 612 5 499 5
Total other income (expense) 713 (28) 1,079 362
Income (loss) before income tax (4,653) (4,590) (17,906) (8,222)
Income tax benefit (provision) 321 0 978 0
Net income (loss) after income tax (4,332) (4,590) (16,928) (8,222)
Net loss attributable to non-controlling interest in subsidiaries 0 0 0 (15)
Net income (loss) attributable to Magellan Petroleum Corporation $ (4,332) $ (4,590) $ (16,928) $ (8,207)
Earnings per common share (Note 8):        
Weighted average number of basic shares outstanding (in shares) 46,084,149 53,835,594 51,302,369 53,592,958
Net income (loss) per basic share outstanding (dollars per share) $ (0.09) $ (0.09) $ (0.33) $ (0.15)