Asset Retirement Obligations

9 Months Ended

Mar. 31, 2015

Asset Retirement Obligation Disclosure [Abstract]

Our asset retirement obligations represent the estimated present value of the amount we will incur to plug, abandon and

remediate our producing properties at the end of their productive lives in accordance with applicable laws. The following is a

reconciliation of the beginning and ending asset retirement obligations for the nine months ended March 31, 2015, and for the year ended June 30, 2014:



	Nine Months Ended March 31, 2015			Year Ended June 30, 2014
Asset retirement obligations — beginning of period	$	352,215		$	615,551
Liabilities sold	(52,526		)	(48,273		)
Liabilities incurred (a)	564,019			—
Liabilities settled	(137,604		)	(323,665		)
Accretion of discount	23,697			41,626
Revision of previous estimates	9,670			66,976
Less obligations due within one year	(10,219		)	(146,703		)
Asset retirement obligations — end of period	$	749,252		$	205,512

(a) Liabilities incurred during the period relate to our share of the the estimated abandonment costs of the wells and facilities in the Delhi field subsequent to the reversion of our working interest.