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 6 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
REVENUES:        
Oil production $ 1,632 $ 1,442 $ 3,767 $ 2,902
Gas production 237 306 458 507
Total revenues 1,869 1,748 4,225 3,409
OPERATING EXPENSES:        
Lease operating 1,718 1,665 4,474 3,716
Depletion, depreciation, amortization, and accretion 598 332 907 649
Exploration 728 4,094 1,657 4,716
General and administrative 2,882 3,394 5,977 7,057
Impairment 0 0 0 890
Gain on sale of assets 33 0 95 0
Total operating (income) expense 5,959 9,485 13,110 17,028
Income (loss) from operations (4,090) (7,737) (8,885) (13,619)
Other income (expense)        
Net interest income 23 258 43 479
Other income (45) (127) (105) (112)
Total other income (expense) (22) 131 (62) 367
Income (loss) before income tax (4,112) (7,606) (8,947) (13,252)
Income tax benefit (provision) 0 321 0 658
Net income (loss) after income tax (4,112) (7,285) (8,947) (12,594)
Preferred stock dividend (421) 0 (836) 0
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (4,533) $ (7,285) $ (9,783) $ (12,594)
Earnings per common share (Note 8):        
Weighted average number of basic shares outstanding (in shares) 45,348,709 53,860,337 45,348,774 53,854,759
Net income (loss) per basic share outstanding (dollars per share) $ (0.10) $ (0.14) $ (0.22) $ (0.23)