Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Operations

v2.4.0.8
Consolidated Statement of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Mar. 31, 2013
REVENUES:        
Oil production $ 1,907 $ 1,706 $ 5,674 $ 4,608
OPERATING EXPENSES:        
Lease operating 1,397 1,032 4,714 3,515
Depletion, depreciation, amortization, and accretion 337 230 956 645
Exploration 1,605 2,395 2,776 3,523
General and administrative 1,588 2,204 6,411 7,685
Impairment 0 0 0 890
Total operating (income) expense 4,927 5,861 14,857 16,258
Loss from operations (3,020) (4,155) (9,183) (11,650)
OTHER INCOME (EXPENSE):        
Net interest expense (80) (20) (103) (51)
Other income (expense) 27 449 (78) 337
Total other (expense) income (53) 429 (181) 286
Loss from continuing operations (3,073) (3,726) (9,364) (11,364)
Loss from discontinued operations, net of tax (2,589) (606) (5,245) (5,564)
Gain on disposal of discontinued operations, net of tax 30,182 0 30,182 0
Net income (loss) from discontinued operations 27,593 (606) 24,937 (5,564)
Net income (loss) attributable to Magellan Petroleum Corporation 24,520 (4,332) 15,573 (16,928)
Preferred stock dividends (431) 0 (1,267) 0
Net income (loss) attributable to common stockholders $ 24,089 $ (4,332) $ 14,306 $ (16,928)
Earnings per common share (Note 12):        
Weighted average number of basic shares outstanding 45,348,709 46,084,149 45,348,753 51,302,369
Weighted average number of diluted shares outstanding 45,348,709 46,084,149 45,348,753 51,302,369
Basic earnings (loss) per common share:        
Loss from continuing operations (in dollars per share) $ (0.07) $ (0.08) $ (0.21) $ (0.22)
Net income (loss) from discontinued operations (in dollars per share) $ 0.61 $ (0.01) $ 0.55 $ (0.11)
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.53 $ (0.09) $ 0.32 $ (0.33)
Diluted earnings (loss) per common share:        
Loss from continuing operations (in dollars per share) $ (0.07) $ (0.08) $ (0.21) $ (0.22)
Net income (loss) from discontinued operations (in dollars per share) $ 0.61 $ (0.01) $ 0.55 $ (0.11)
Net income (loss) attributable to common stockholders (in dollars per share) $ 0.53 $ (0.09) $ 0.32 $ (0.33)