QUARTERLY RESULTS (UNAUDITED) (Details) - USD ($) |
3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2017 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Mar. 31, 2017 |
Mar. 31, 2016 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
| Selected unaudited quarter data | |||||||||||||
| Depreciation | $ 7,000 | $ 26,000 | $ 27,000 | $ 28,000 | $ 28,000 | $ 33,000 | $ 49,000 | $ 69,000 | $ 86,000 | $ 42,000 | $ 83,000 | $ 109,000 | $ 237,000 |
| General, administrative and other operating | 3,380,000 | 1,434,000 | 3,266,000 | 1,829,000 | 1,877,000 | 2,841,000 | 2,721,000 | 3,633,000 | 3,962,000 | 11,627,000 | 6,972,000 | 8,406,000 | 13,157,000 |
| Full impairment of unproved oil and gas properties | 14,331,000 | 753,000 | 14,331,000 | 14,331,000 | |||||||||
| Loss from operations | $ (3,387,000) | (1,460,000) | (17,624,000) | (1,857,000) | (1,905,000) | (2,874,000) | (2,770,000) | (3,702,000) | (4,048,000) | $ (12,422,000) | $ (21,386,000) | $ (22,846,000) | $ (13,394,000) |
| Net loss | $ (1,460,000) | $ (17,624,000) | $ (1,857,000) | $ (1,905,000) | $ (2,874,000) | $ (2,770,000) | $ (3,701,000) | $ (4,047,000) | |||||
| Basic and diluted loss per common share: (in dollars per share) | $ (0.07) | $ (0.84) | $ (0.09) | $ (0.09) | $ (0.14) | $ (0.13) | $ (0.18) | $ (0.19) | $ (1.09) | $ (0.64) | |||