Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Net (Loss) income before non-controlling interest $ (8,222,358) $ (5,575,675)
Foreign currency exchange loss (1,045,190) 605,523
Depletion, depreciation and amortization 1,242,217 1,694,333
Interest earned on restricted deposits (23,555) 0
Accretion Of Contingent Considerations 128,000 0
Amortization of Loan Fees 7,905 0
Deferred income taxes 0 (1,349,001)
(Gain) loss from disposal of assets (4,029,149) (954,060)
Exploration and dry hole costs 943,769 0
Share-based Compensation 1,281,526 1,768,596
Impairment loss 0 122,862
Change in operating assets and liabilities:    
Accounts receivable 1,213,105 846,265
Inventories (357,352) 69,718
Prepayments and other current assets (386,423) 87,276
Accounts payable and accrued liabilities (1,034,123) (924,016)
Income taxes payable (receivable) 60,645 1,107,051
Other Noncurrent Liabilities (88,507) 0
Net cash (used in) provided by operating activities (10,309,490) (2,501,128)
INVESTING ACTIVITIES:    
Additions to property and equipment (5,243,504) (4,207,139)
Proceeds from sale of assets 5,035,127 1,472,944
Purchase of additional working interest in Poplar Fields (823,299) 0
Refund of Deposit for purchase of Evans Shoal 10,939,906 (10,013,501)
Marketable securities matured or sold 5,686,555 5,002,802
Marketable securities purchased (5,686,555) (6,999,735)
Net cash (used in) provided by investing activities 9,908,230 (14,744,629)
FINANCING ACTIVITIES:    
Proceeds from issuance of stock 35,000 43,500
Short term debt issuances 4,874,500 3,949,218
Short term debt repayments (4,225,000) (3,175,668)
Purchase of non-controlling interest - Nautilus Poplar LLC (including $237,956 of transaction costs) (3,461,120) (380,000)
Noncontrolling Capital Contribution Nautilus Poplar LLC 0 80,000
Long term debt repayments (420,000) 0
Net cash (used in) provided by financing activities (3,196,620) 517,050
Effect of exchange rate changes on cash and cash equivalents 391,702 3,389,029
Net (decrease) increase in cash and cash equivalents (3,206,178) (13,339,678)
Cash and cash equivalents at beginning of period 20,416,625 33,591,534
CASH AND CASH EQUIVALENTS AT END OF PERIOD 17,210,447 20,251,856
Income taxes 25,924 (1,128,098)
Interest Paid, net of amount capitalized 85,073 63,977
Supplemental Schedule of Noncash Investing and Financing Activities:    
Unrealized holding gains, net of deferred tax 71,389 (138,501)
Revision to estimate of asset retirement obligations 0 378,948
Amounts in accounts payable related to property and equipment 429,517 3,391
Purchase of non-controlling interest for Stock and contingent consideration 4,729,316 0
Purchase of working interest for Stock and contingent consideration $ 1,243,107 $ 0