Quarterly report pursuant to Section 13 or 15(d)

Oil and Gas Activities

v2.4.0.6
Oil and Gas Activities
 9 Months Ended
Mar. 31, 2013
Oil and Gas Exploration and Production Industries Disclosures [Abstract]  
Oil and Gas Activities
Note 13 - Oil and Gas Activities
The following table represents the capitalized costs under the successful efforts method for oil and gas properties as of:
 
March 31,
2013
 
June 30,
2012
 
(In thousands)
Proved oil and gas properties:
 
 
 
United Kingdom
$
—

 
$
—

United States
25,146

 
24,207

Australia
9,235

 
9,720

Less accumulated depletion, depreciation, and amortization
(5,842
)
 
(5,740
)
Total net proved oil and gas properties
$
28,539

 
$
28,187

 
 
 
 
Unproved oil and gas properties:
 
 
 
United Kingdom
$
1,074

 
$
2,598

United States
245

 
104

Australia
4,477

 
4,389

Total unproved oil and gas properties
$
5,796

 
$
7,091

 
 
 
 
Wells in Progress:
 
 
 
United Kingdom
$
693

 
$
2,026

United States
2,313

 
1,718

Australia
—

 
—

Total wells in progress
$
3,006

 
$
3,744


During the nine months ended March 31, 2013, the Company allowed a petroleum exploration and development license in the United Kingdom to expire at the end of its term. As a result, an impairment of $0.9 million was recorded in the unaudited condensed consolidated statement of operations. Additionally, the Company recorded a write-down related to the Markwells Wood-1 exploration well in the United Kingdom operated by Northern Petroleum. As a result, an exploration expense of $2.2 million was recorded in the unaudited condensed consolidated statement of operations. No further write-downs were recorded during the nine months ended March 31, 2013.