10-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

Amendment No. 1

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the annual period ended December 31, 2012

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-33578

Samson Oil & Gas Limited

(Exact Name of Registrant as Specified in its Charter)

Australia	N/A
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)

Level 16, AMP Building, 140 St Georges Terrace Perth, Western Australia 6000
(Address Of Principal Executive Offices)	(Zip Code)
Level 36, Exchange Plaza, 2 The Esplanade Perth, Western Australia 6000
(Former address, if changed since last report)

+61 8 9220 9830

(Registrant’s Telephone Number, Including Area Code)

Securities Registered Pursuant to Section 12(b) of the Act:

American Depositary Shares*
Ordinary Shares**	NYSE MKT
Title of Each Class	Name of Exchange on Which Registered

*	American Depositary Shares evidenced by American Depository Receipts. Each American Depositary Share represents 20 Ordinary Shares.
**	No par value. Not for trading, but only in connection with the listing of American Depositary Shares.

Securities Registered Pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ¨ No x

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨ Accelerated filer x Non-accelerated filer ¨ (Do not check if a smaller reporting company) Smaller reporting company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

The aggregate market value of the registrant's ordinary shares held by non-affiliates of the registrant on December 31, 2011 was $168.7 million, based on the closing price as reported on the NYSE MKT (treating, for this purpose, all executive officers and directors of the registrant, as affiliates).

There were 2,547,617,329 ordinary shares outstanding as of September 9, 2013.

PURPOSE OF AMENDMENT

Samson is filing this Amendment No. 1 (the “Form 10-K/A”) to our Annual Report on Form 10-K for the fiscal year ended June 30, 2013 that we filed with the Securities and Exchange Commission (“SEC”) on September 16, 2013 (the “Form 10-K”), for the sole purpose of filing the Interactive Data File as Exhibit 101. The attached Exhibit 101 was not filed due to unanticipated technical difficulties.

This Form 10-K/A continues to speak as of the original filing date of the Form 10-K, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update any related disclosures made in the Form 10-K.

Exhibit No.	Title of Exhibit
3**	Constitution of Samson Oil & Gas Limited (incorporated by reference to Exhibit 1 to the Registration Statement on Form
	20-F filed on July 6, 2007, as amended by Form 20-F/A).
4**	Form of Deposit Agreement between Samson Oil & Gas Limited and The Bank of New York (incorporated by reference
	to Exhibit 1 to the Registration Statement on Form F-6EF filed on April 29, 2010).
10.4**	Employment Agreement between Samson Oil and Gas USA, Inc. and Terence Barr, dated as of January 1, 2011
	(incorporated by reference to Exhibit 10.4 to the Annual Report on Form 10-K filed on September 13, 2012).
10.5**	Amendment to Employment Agreement between Samson Oil and Gas USA, Inc. and Terence Barr, dated as of December
	20, 2011 (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed on December 27, 2011).
10.6**	Employment Agreement between Samson Oil and Gas USA, Inc. and Robyn Lamont, dated as of January 1, 2011
	(incorporated by reference to Exhibit 10.5 to the Annual Report on Form 10-K filed on September 13, 2012).
10.7**	Employment Agreement between Samson Oil and Gas USA, Inc. and David Ninke, dated as of January 1, 2011
	(incorporated by reference to Exhibit 10.6 to the Annual Report on Form 10-K filed on September 13, 2012).
10.8**	Employment Agreement between Samson Oil and Gas USA, Inc. and Daniel Gralla, dated as of January 1, 2011
	(incorporated by reference to Exhibit 10.7 to the Annual Report on Form 10-K filed on September 13, 2012).
10.9**	Samson Oil & Gas Limited Stock Option Plan (incorporated by reference to Exhibit 4.1 to the Registration Statement on
	Form S-8 of Samson Oil & Gas Limited filed on April 21, 2011) (incorporated by reference to Exhibit 10.7 to the Annual
	Report on Form 10-K filed on September 13, 2012).
10.10**	2013 Bonus Plan (incorporated by reference to the Current Report on Form 8-K filed on August 16, 2013).
10.11**	Purchase and Sale Agreement with Slawson Exploration Company, Inc. dated August 15, 2013 (incorporated by reference
	to Exhibit 10.1 to the Current Report on Form 8-K filed on March 20, 2013).
10.12**	Form of Subscription Agreement dated March 20, 2013 (incorporated by reference to Exhibit 10.1 to the Current Report
	on Form 8-K filed on March 22, 2013).
10.13**	Form of Subscription Agreement dated August 19, 2013 (incorporated by reference to Exhibit 10.1 to the Current Report
	on Form 8-K filed on August 22, 2013).
21**	List of Subsidiaries (incorporated by reference to Exhibit 21 to the Annual Report on Form 10-K filed on September 13,
	2012).
23.1**	Consent of PricewaterhouseCoopers LLP.
23.2**	Consent of Ryder Scott Company, L.P.
31.1*	Certification of the Principal Executive Officer pursuant to Rule 13a–14(a) and Rule 15d–14(a) of the Securities Exchange
	Act of 1934, as amended.
31.2*	Certification of the Principal Financial Officer pursuant to Rule 13a–14(a) and Rule 15d–14(a) of the Securities Exchange
	Act of 1934, as amended.
32**	Certifications of the Principal Executive Officer and Principal Financial Officer pursuant to 18 USC 1350, as adopted,
	pursuant to Section 906 of the Sarbanes–Oxley Act of 2002.
99**	Report of Ryder Scott Company, L.P. Regarding the Registrant’s Reserves as of June 30, 2013.
101.INS*	XBRL Instance Document.
101.SCH*	XBRL Taxonomy Extension Schema Document.
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document.
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document.
*	Filed herewith.
**	Previously filed as exhibit to Annual Report on Form 10-K for the fiscal year ended June 30, 2013.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SAMSON OIL & GAS LIMITED
By:	/s/Terence Barr
Name:	Terence Barr
Title:	Managing Director, President and Chief Executive Officer
Date:	September 17, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature	Title	Date
/s/Terence Barr	Managing Director, President and Chief Executive Officer (Principal Executive Officer)	September 17, 2013
Terence Barr
/s/Robyn Lamont	Chief Financial Officer (Principal Financial and Accounting Officer)	September 17, 2013
Robyn Lamont
/s/Victor Rudenno	Director	September 17, 2013
Victor Rudenno
/s/Keith Skipper	Director	September 17, 2013
Keith Skipper
/s/DeAnn Craig	Director	September 17, 2013
DeAnnCraig

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Terence M. Barr, certify that:

1. I have reviewed this Amendment No. 1 on Form 10-K/A to the Annual Report on Form 10-K of Samson Oil & Gas Limited; and

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

/s/ Terence M. Barr

Terence M. Barr

President, Chief Executive Officer and Managing Director

September 17, 2013

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Robyn Lamont, certify that:

1. I have reviewed this Amendment No. 1 on Form 10-K/A to the Annual Report on Form 10-K of Samson Oil & Gas Limited; and

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

/s/ Robyn Lamont

Robyn Lamont

Chief Financial Officer

September 17, 2013

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Commitments

12 Months Ended

Jun. 30, 2013

Commitments [Abstract]

Commitments

11. COMMITMENTS

Leases –The Company has entered into lease agreements for office space in Denver, Colorado and Perth, Western Australia. As of June 30, 2012, future minimum lease payments under operating leases that have initial or remaining non–cancelable terms in excess of one year are  $134,361 in 2013, $136,670  in 2014, $131,159 in 2015, $10,294 in 2016 and $nil thereafter. Net rent expense incurred for office space was $132,425, $212,715 and $285,427 in 2011, 2012 and 2013, respectively.

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Capital Stock Contributed Equity (Contributed Equity) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Capital Stock Contributed Equity [Abstract]
2,229,165,163 ordinary fully paid shares including shares to be issued (2012 - 1,772,456,827 ordinary fully paid shares including shares to be issued)	$ 92,717,784	$ 83,467,987
Common stock outstanding and to be issued	2,229,165,163	1,772,456,827

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Consolidated Statements Of Operations (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
REVENUES AND OTHER INCOME:
Interest income	$ 253,150	$ 355,357	$ 368,251
Gain on sale of exploration acreage		0	73,199,687
Other	211,736	58,598	2,245
TOTAL REVENUE AND OTHER INCOME	6,268,994	8,799,754	79,538,959
EXPENSES:
Lease operating expense	(3,466,339)	(2,789,902)	(1,678,510)
Depletion, depreciation and amortization	(1,975,932)	(2,776,005)	(1,832,558)
Impairment of oil and natural gas properties	(259,529)	(635,464)
Exploration and evaluation expenditure	(7,929,204)	(30,559,458)	(404,031)
Accretion of asset retirement obligations	(55,326)	(23,603)	(23,909)
General and administrative	(6,313,993)	(7,880,966)	(8,561,734)
Interest expense, net of capitalized costs		0	(906,838)
TOTAL EXPENSES	(20,000,323)	(44,665,398)	(13,407,580)
Income (loss) from continuing operations	(13,731,329)	(35,865,644)	66,131,379
Income tax (provision)/benefit	2,010,280	4,629,193	(14,695,544)
Earnings from continuing operations	(11,721,049)	(31,236,451)	51,435,835
Total income (loss) from discontinued operations, net of income taxes		0	2,712,387
Net income (loss)	(11,721,049)	(31,236,451)	54,148,222
OTHER COMPREHENSIVE GAIN (LOSS)
Foreign currency translation	(794,508)	(317,037)	1,253,147
Total comprehensive loss for the period	(12,515,557)	(31,553,488)	55,401,369
Net earnings per common share from continuing operations:
Basic - cents per share	$ (0.61)	$ (1.78)	$ 3.06
Diluted - cents per share	$ (0.61)	$ (1.78)	$ 2.61
Net earnings per common share from discontinued operations:
Basic - cents per share			$ 0.16
Diluted - cents per share			$ 0.14
Weighted average common shares outstanding:
Basic	1,935,438,970	1,752,408,357	1,680,247,878
Diluted	1,935,438,970	1,752,408,357	1,968,053,691
Oil [Member]
REVENUES AND OTHER INCOME:
Sales revenue	5,028,050	7,352,494	5,038,446
Natural Gas [Member]
REVENUES AND OTHER INCOME:
Sales revenue	772,073	1,020,945	930,330
Other Liquids [Member]
REVENUES AND OTHER INCOME:
Sales revenue	$ 3,985	$ 12,360

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Fair Value Measurements

12 Months Ended

Jun. 30, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements

4. FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilizes market data or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. The FASB has established a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement).

The three levels of the fair value hierarchy are as follows:

 Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

 Level 2—Pricing inputs are other than quoted prices in active markets included in level 1, but are either directly or indirectly observable as of the reported date and for substantially the full term of the instrument. Inputs may include quoted prices for similar assets and liabilities. Level 2 includes those financial instruments that are valued using models or other valuation methodologies.

 Level 3—Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.

Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value as of June 30, 2013 and 2012.

	Fair Value at June 30, 2013
	Level 1		Level 2		Level 3		Total
Assets (Liabilities):
Cash and cash equivalents	$	13,170,627	$	-	$	-	$	13,170,627
	Fair Value at June 30, 2012
	Level 1		Level 2		Level 3		Total
Assets (Liabilities):
Cash and  cash equivalents	$	18,845,894	$	-	$	-	$	18,845,894

The following methods and assumptions were used to estimate the fair value of the assets and liabilities in the table above:

Cash and Cash Equivalents. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash management process provides for the daily funding of checks as they are presented to the bank.  Due to the short term nature of cash and cash equivalents, the carrying value of all balances represents fair value.

Commodity Derivative Contracts.   In the prior year, the Company’s commodity derivative instruments consisted of collar contracts for oil and natural gas. The Company values the derivative contracts using industry standard models, based on an income  approach, which considers various assumptions including quoted forward prices and contractual prices for the underlying commodities, time value and volatility factors, as well as other relevant economic measures. Substantially all of the assumptions can be observed throughout the full term of the contracts, can be derived from observable data or are supportable by observable levels at which transactions are executed in the marketplace and are therefore designated as level 2 within the fair value hierarchy. The discount rates used in the assumptions include a component of non-performance risk.

Fair Value of Financial Instruments.   The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable and payable, investments and derivatives (discussed above). The carrying values of cash equivalents and accounts receivable and payable are representative of their fair values due to their short–term maturities.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis. The Company also applies fair value accounting guidance to measure non–financial assets and liabilities such as business acquisitions, proved oil and gas properties, and asset retirement obligations. These assets and liabilities are subject to fair value adjustments only in certain circumstances and are not subject to recurring revaluations. These items are primarily valued using the present value of estimated future cash inflows and/or outflows. Given the unobservable nature of these inputs, they are deemed to be Level 3. During the year ended June 30, 2013 we have recognized impairment expense of approximately $0.3 million (2012  $0.7 million) in relation to oil and gas properties.

Fair value may be estimated using comparable market data, a discounted cash flow method, or a combination of the two. The Company utilizes the discounted cash flow method, estimated future cash flows are based on management’s expectations for the future and include estimates of future oil and gas production, commodity prices based on published forward commodity price curves as of the date of the estimate, operational costs, and a risk–adjusted discount rate. The fair value measurement was based on Level 3 inputs.

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Sales Of Properties (Tables)

12 Months Ended

Jun. 30, 2013

Sales Of Properties [Abstract]

Schedule Of Earnings From Discontinued Operations, Net Of Income Tax

	For the year ended June 30,
	2013		2012		2011
Sales of oil and gas	$	-	$	-	$	751,566
Lease operating expense		-		-		(336,965)
Depletion, amortization and impairment		-		-		(329,573)
Realized derivative commodity gains		-		-		152,171
Unrealized commodity derivative (losses)/ gains for changes in fair value		-		-		(24,557)
(Loss) on sale of asset		-		-		(5,411,466)
(Loss)/Earnings from discontinued operations, before income taxes		-		-		(5,198,824)
Provision for income tax benefit		-		-		7,911,211
Earnings from discontinued operations, net of income taxes		-		-		2,712,387

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Narrative) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2009
Development costs	$ 29,000,000
Discount factor of future net cash flows		10.00%
Number of proved undeveloped drilling locations	4
Estimated costs to develop proved undeveloped sites	16,400,000
Gain/(loss) on sale of asset			(5,411,466)
Undeveloped Acreage In Goshen County, Wyoming [Member]
Gain/(loss) on sale of asset	$ 73,300,000		$ 73,199,687
Oil [Member]
12 month historical average price per barrel of oil	84.54	83.93	81.04	66.53	57.06
Natural Gas [Member]
12 month historical average price per Mcf	5.89	5.16	4.61	3.75	2.975

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Share-Based Payments (Narrative) (Details)	0 Months Ended							1 Months Ended			2 Months Ended	12 Months Ended
	Dec. 17, 2010 AUD	Nov. 18, 2010 AUD item	Nov. 18, 2009 AUD item	May 12, 2008 AUD	Oct. 10, 2007 AUD	Oct. 11, 2007 AUD	Jun. 14, 2006 AUD	Nov. 30, 2011 AUD	Jul. 31, 2011 AUD	Jan. 31, 2010 AUD	Nov. 30, 2009 AUD	Jun. 30, 2013 USD ($)	Jun. 30, 2013 AUD	Jun. 30, 2012 USD ($)	Jun. 30, 2012 AUD	Jun. 30, 2011 AUD	Jun. 30, 2010 AUD	Jun. 30, 2009	Jun. 30, 2013 1.5 Cents [Member]	Jun. 30, 2012 1.5 Cents [Member]	Jun. 30, 2011 1.5 Cents [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchange rate												0.9250	0.9250	1.0191	1.0191	1.0739
Options issued		29,000,000				4,000,000	8,500,000			12,500,007	344,431,141	0	0
Options granted	32,000,000		1,000,000	2,000,000	3,379,077			4,000,000	4,000,000			97,307,526	97,307,526	8,000,000	8,000,000	61,000,000
Exercise price (Australian cents)	0.0800	0.08	0.20	0.25	0.30	0.30	0.45	0.155	0.1640	0.015	0.015	$ 0.015	0.015	$ 0.015	0.015	0.015
Options, expiration date	Dec. 31, 2014	Oct. 31, 2014	Nov. 30, 2013	May 11, 2013	Oct. 10, 2012	Oct. 10, 2012	May 31, 2011	Oct. 31, 2015	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2012
Percentage of options that vest in year one	33.33%								33.33%
Percentage of options that vest in year two	33.33%								33.33%
Percentage of options that vest in year three	33.33%								33.33%
Number of directors		4
Options intrinsic value	0.047	0.0501
Options exercised												214,002,238	214,002,238	39,913,038	39,913,038	70,572,446	22,324,842		214,002,238	39,913,038	70,072,446
Number of non-executive directors			2
Options that vest immediately				600,000
Options that vest following twelve months of service				600,000
Options that vest following twenty four months of service				800,000
Options expired following employee resignation																		2,000,000
Unissued shares in respect to options outstanding														166,807,526	166,807,526	301,499,902
Unrecognized compensation cost related to stock options												$ 5,629
Unrecognized compensation cost weighted average amortization period												1 year	1 year
Aggregate intrinsic value of options exercised												$ 3,342,660		$ 632,101	4,739,926	3,608,250	5,458,053

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Contingencies

12 Months Ended

Jun. 30, 2013

Contingencies [Abstract]

Contingencies

12. CONTINGENCIES

There are no unrecorded contingent assets or liabilities in place for the Company at balance date (2012: Nil).

Samson may be subject to various other lawsuits and disputes incidental to its business operations, including commercial disputes, personal injury claims, and claims for underpayment of royalties, property damage claims and contract actions.

The Company records an associated liability when a loss is probable and the amount is reasonably estimable. Although the outcome of litigation cannot be predicted with certainty, management is of the opinion that no pending or threatened lawsuit or dispute incidental to its business operations is likely to have a material adverse effect on the company’s consolidated financial position, results of operations or cash flows. The final resolution of such matters could exceed amounts accrued, however, and actual results could differ materially from management’s estimates.

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Income Taxes (Schedule Of Components Of Income Tax Provision (Benefit)) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Income Taxes [Abstract]
Current Federal	$ (2,035,992)	$ (4,712,856)	$ 6,742,308
Current State	25,712	83,663	42,025
Current	(2,010,280)	(4,629,193)	6,784,333
Less income tax benefit allocated to discontinued operations			(7,911,211)
Total income tax provision (benefit)	$ (2,010,280)	$ (4,629,193)	$ 14,695,544

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Share-Based Payments (Schedule Of Assumption Used In Black-Scholes Model) (Details)	0 Months Ended								1 Months Ended					2 Months Ended	12 Months Ended
	Dec. 17, 2010 AUD	Nov. 18, 2010 USD ($)	Nov. 18, 2010 AUD	Nov. 18, 2009 AUD	May 12, 2008 AUD	Oct. 10, 2007 AUD	Oct. 11, 2007 AUD	Jun. 14, 2006 AUD	Nov. 30, 2011 USD ($)	Nov. 30, 2011 AUD	Jul. 31, 2011 USD ($)	Jul. 31, 2011 AUD	Jan. 31, 2010 AUD	Nov. 30, 2009 AUD	Jun. 30, 2013 USD ($)	Jun. 30, 2013 AUD	Jun. 30, 2012 USD ($)	Jun. 30, 2012 AUD	Jun. 30, 2011 AUD
Share-Based Payments [Abstract]
Share price at grant date (Autralian cents)	0.0590		0.0640							0.100		0.140
Exercise price (Australian cents)	0.0800		0.08	0.20	0.25	0.30	0.30	0.45		0.155		0.1640	0.015	0.015	$ 0.015	0.015	$ 0.015	0.015	0.015
Time to expiry (years)	4 years	4 years	4 years						4 years	4 years	3 years 6 months	3 years 6 months
Risk free rate (%)	5.31%	5.24%	5.24%						6.00%	6.00%	5.25%	5.25%
Share price volatility (%)	131.00%	131.00%	131.00%						124.61%	124.61%	129.33%	129.33%
Dividend yield

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Summary Of Significant Accounting Policies (Schedule Of Other Property And Equipment) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Summary Of Significant Accounting Policies [Abstract]
Furniture, fittings and equipment	$ 718,694	$ 700,315
Less accumulated depreciation	(351,037)	(252,254)
Total other property and equipment	$ 367,657	$ 448,061

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Asset Retirement Obligations (Tables)

12 Months Ended

Jun. 30, 2013

Asset Retirement Obligations [Abstract]

Summary Of Activities Of Asset Retirement Obligations

	2013		2012
Asset retirement obligations at beginning of period	$	808,572	$	236,024
Liabilities incurred or acquired		4,691		548,945
Disposition of properties		-		-
Accretion expense		55,326		23,603
Asset retirement obligations at end of period		868,589		808,572
Less: current asset retirement obligations (classified with accounts payable and accrued liabilities)		-		-
Long-term asset retirement obligations	$	868,589	$	808,572

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Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2013

Fair Value Measurements [Abstract]

Schedule Of Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis

	Fair Value at June 30, 2013
	Level 1		Level 2		Level 3		Total
Assets (Liabilities):
Cash and cash equivalents	$	13,170,627	$	-	$	-	$	13,170,627
	Fair Value at June 30, 2012
	Level 1		Level 2		Level 3		Total
Assets (Liabilities):
Cash and  cash equivalents	$	18,845,894	$	-	$	-	$	18,845,894

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Asset Retirement Obligations (Details) (USD $)	12 Months Ended			24 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2013 Minimum [Member]	Jun. 30, 2013 Maximum [Member]
Asset Retirement Obligations [Line Items]
Asset retirement obligations at beginning of period	$ 808,572	$ 808,572	$ 236,024
Liabilities incurred or acquired	4,691	548,945
Accretion expense	55,326	23,603	23,909
Asset retirement obligations at end of period	868,589	808,572	808,572
Long-term asset retirement obligations	$ 868,589	$ 808,572
Asset Retirement Obligations, Discount Rate				4.00%	9.00%

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Summary Of Significant Accounting Policies (Narrative) (Details) (USD $)	1 Months Ended	12 Months Ended				3 Months Ended	12 Months Ended	1 Months Ended	12 Months Ended
	Aug. 31, 2013	Jun. 30, 2013	Jun. 30, 2012 segment site	Jun. 30, 2011 site	Jun. 30, 2012 Spirit Of America I, Goshen County, Wyoming [Member]	Mar. 31, 2013 Spirit Of America II, Goshen County, Wyoming [Member]	Jun. 30, 2012 Australia II And Gretel II, Roosevelt County, Montana [Member] site	Aug. 31, 2013 Billabong [Member]	Jun. 30, 2013 Other Property And Equipment [Member]	Jun. 30, 2012 Other Property And Equipment [Member]	Jun. 30, 2011 Other Property And Equipment [Member]	Jun. 30, 2012 Other Property And Equipment [Member] Minimum [Member]	Jun. 30, 2012 Other Property And Equipment [Member] Maximum [Member]
Significant Accounting Policies [Line Items]
Number of operating segments			1
Bonus accrual		$ 0	$ 133,168
Maximum employee bonus percentage of bonus pool		20.00%
Wells being drilled				2			2
Interest costs capitalized		0	0	74,466
Exploratory costs charged to expense						7,400,000
Exploration expense					4,900,000		24,700,000
Impairment of oil and natural gas properties		259,529	635,464
Estimated useful life												3 years	25 years
Depreciation and amortization		1,975,932	2,776,005	1,832,558					101,484	90,015	50,532
Minimum percentage of likelihood tax benefits recognized from uncertain tax position, reasonably possible upon settlement			50.00%
Consideration for divestiture	5,562,000
Percentage of working interest transferred								25.00%
Proved properties		$ 26,657,972	$ 25,785,108					$ 900,000

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Summary Of Significant Accounting Policies (Schedule Of Earnings Per Share, Basic And Diluted) (Details) (USD $)	3 Months Ended								12 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Summary Of Significant Accounting Policies [Abstract]
Net income (loss) from continuing operations									$ (11,721,049)	$ (31,236,451)	$ 51,435,835
Basic weighted average common shares outstanding									1,935,438,970	1,752,408,357	1,680,247,878
Add: dilutive effect of stock options											261,317,567
Add: bonus element for rights issue											26,488,246
Diluted weighted average common shares outstanding									1,935,438,970	1,752,408,357	1,968,053,691
Continuing operations, basic earnings per common share - cents per share	$ (0.11)	$ (0.45)	$ 0.00	$ (0.05)	$ (1.43)	$ (0.03)	$ (0.29)	$ (0.03)	$ (0.61)	$ (1.78)	$ 3.06
Continuing operations, diluted earnings per common share - cents per share	$ (0.11)	$ (0.45)	$ 0.00	$ (0.05)	$ (1.43)	$ (0.03)	$ (0.29)	$ (0.03)	$ (0.61)	$ (1.78)	$ 2.61
Net income (loss) from discontinued operations											$ 2,712,387
Discontinued operations, basic earnings per common share - cents per share											$ 0.16
Discontinued operations, diluted earnings per common share - cents per share											$ 0.14

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Income Taxes (Schedule Of Effective Income tax Rate Reconciliation) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Income Taxes [Abstract]
Federal statutory rate		30.00%
Income tax expense (benefit) at federal statutory rate	$ (4,114,908)	$ (10,759,693)	$ 18,281,307
State income taxes	(170,787)	(460,051)	462,204
Other	(1,224,069)	(1,436,377)	3,480,237
Valuation allowance	3,499,484	8,026,928	(15,439,415)
Total income tax provision (benefit)	$ (2,010,280)	$ (4,629,193)	$ 6,784,333

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Share-Based Payments (Tables)

12 Months Ended

Jun. 30, 2013

Share-Based Payments [Abstract]

Schedule Of Assumption Used In Black-Scholes Model

The fair value of each option granted was estimated using the Black-Scholes option pricing model. The following assumptions were used to compute the weighted average fair market value of options granted:

Share price at grant date (Australian cents)		14.0
Exercise price (Australian cents)		16.40
Time to expiry (years)		3.5
Risk free rate (%)		5.25
Share price volatility (%)		129.33
Dividend yield	Nil

In November 2011, 4,000,000 options were granted under the Samson Oil and Gas Limited Stock Option to a non-executive Director of the Company.  These options have an exercise price of 15.5 cents (Australian) and expiry date of October 31, 2015.  These options vested immediately.  The fair value of each option granted was estimated using the Black-Scholes option pricing model.  The following assumptions were used to compute the weighted average fair market value of options granted:

Share price at grant date (Australian cents)		10.0
Exercise price (Australian cents)		15.5
Time to expiry (years)		4
Risk free rate (%)		6.00
Share price volatility (%)		124.61
Dividend yield	Nil

Options issued during the year ended June 30, 2011

On November 18, 2010, 29,000,000 options were issued to four directors.  These options have an expiry date of October 31, 2014 and an exercise price of 8 cents per share. These options have been valued at 5.01 cents per option, using a black-scholes pricing model, which takes into account the following variables:

Share price at grant date (cents)		6.40
Exercise price (cents)		8.00
Time to expiry (years)		4
Risk free rate (%)		5.24
Share price volatility (%)		131
Dividend yield	Nil

The value of these options has been expensed in the current period as these options vested immediately.

On December 17, 2010, 32,000,000 options were granted to employees of the Company.  These options have an expiry date of December 31, 2014.  These options have been valued at 4.7 cents per option, using a black-scholes pricing model which takes into account the following variables:

Share price at grant date (cents)	5.90
Exercise price (cents)	8.00
Time to expiry (years)	4
Risk free rate (%)	5.31
Share price volatility (%)	131

Schedule Of Share-Based Compensation Recognized In General And Administrative Expense

	Year ended June 30
	U.S. Dollar
	2013		2012		2011
Share–based compensation expensed	$	199,436	$	1,167,801	$	2,473,477

Summary Of Stock Option Activity

	2013			2012		2011
	Number	Weighted	Aggregate	Number	Weighted	Number	Weighted
		Average	Intrinsic		Average		Average
		Exercise	Value of		Exercise		Exercise
		Price – cents	Options		Price – cents		Price – cents
		(AUD)	cents		(AUD)		(AUD)
			(AUD)
			(1)
Outstanding, start of period	301,499,902	0.04		333,412,940	0.033	349,485,386	0.03
Granted	97,307,526	0.038		8,000,000	0.16	61,000,000	0.08
Exercised	(214,002,238)	0.015		(39,913,038)	0.015	(70,572,446)	0.015
Cancelled/expired	(17,997,664)	0.13		0	-	(6,500,000)	0.45
Outstanding, end of period	166,807,526	0.06	(0.04)	301,499,902	0.04	333,412,940	0.033
Exercisable, end of period	165,474,192	0.06		288,166,570	0.05	312,079,606	0.03

(1) The intrinsic value of a stock option is the amount by which the market value is (less than)/exceeds the exercise price at the Balance Date.

Schedule Of Additional Information Related To Options Outstanding

	Options Outstanding					Options Exercisable
Range of	Number	Weighted		Weighted		Number	Weighted		Weighted
Exercise	Outstanding	Average		Average		Exercisable	Average		Average
Prices		Remaining		Exercise			Remaining		Exercise
		Contractual		Prices			Contractual		Prices
		Life - years					Life
3.8 cents	97,307,526		3.00		0.038	97,307,526		3.00		0.038
8 cents	60,500,000		1.50		0.08	60,500,000		1.50		0.08
15.5 cents	4,000,000		2.30		0.155	4,000,000		2.30		0.155
16.4 cents	4,000,000		1.50		0.164	2,666,666		1.50		0.164
20 cents	1,000,000		0.42		0.2	1,000,000		0.42		0.2
	166,807,526					165,474,192

Schedule Of Unvested Stock Option Award Activity

Non-vested stock options	Shares		Weighted– Average Grant–Date Fair Value
Non-vested at June 30, 2012		13,333,332
Granted		-		-
Vested		12,000,000		0.06
Forfeited		–
Non-vested at June 30, 2013		1,333,332		0.11

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Contingencies (Details) (USD $)	Jun. 30, 2012
Contingencies [Abstract]
Contingent assets or liabilities

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations [Abstract]
Beginning of year	$ 13,338	$ 14,723	$ 15,123
Sales of oil and gas produced during the period, net of production costs	(2,338)	(5,596)	(4,838)
Net changes in prices and production costs	8,027	3,216	7,983
Previously estimated development costs incurred during the period		917	3,713
Changes in estimates of future development costs	(18,814)	(10,198)	(5,256)
Extensions, discoveries and improved recovery	5,892	11,354
Revisions of previous quantity estimates and other	7,419	(643)	5,810
Sale of reserves in place			(6,522)
Purchase of reserves in place	11,664
Change in future income taxes	(6,526)	(987)	(2,573)
Accretion of discount	1,334	1,472	1,512
Other	1,847	(920)	(229)
Balance at end of year	$ 21,843	$ 13,338	$ 14,723

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Commitments (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Commitments [Abstract]
Future minimum lease payments, 2017	$ 134,361
Future minimum lease payments, 2014	136,670
Future minimum lease payments, 2015	131,159
Future minimum lease payments, 2016	10,294
Future minimum lease payments, thereafter
Net rent expense	$ 285,427	$ 212,715	$ 132,425

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Hedging And Derivative Financial Instruments (Details) (USD $)	12 Months Ended			12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2013	Jun. 30, 2013 Gas Price + 10% [Member]	Jun. 30, 2012 Gas Price + 10% [Member]	Jun. 30, 2013 Gas Price - 20% [Member]	Jun. 30, 2012 Gas Price - 20% [Member]	Jun. 30, 2013 Oil Price + 10% [Member]	Jun. 30, 2012 Oil Price + 10% [Member]	Jun. 30, 2013 Oil Price - 20% [Member]	Jun. 30, 2012 Oil Price - 20% [Member]
Derivative [Line Items]
Derivative instruments	$ 0		$ 0
Loss on commodity derivative	(22,268)	(24,557)
Gain/(loss) on price risk derivatives				$ 77,207	$ 102,095	$ (154,415)	$ (204,189)	$ 502,805	$ 735,249	$ (1,005,610)	$ (1,470,499)

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Summary Of Costs Incurred For Oil And Natural Gas Exploration, Development And Acquisition) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations [Abstract]
Proved properties	$ 872,864	$ 2,912,753	$ 6,309,640
Work in progress	6,344,040
Lease and well equipment	1,154,120	472,105	1,247,939
Exploration costs	3,911,191	5,172,707	1,190,283
Undeveloped capitalized acreage	2,352,125	7,859,832	2,157,455
Total costs incurred	$ 14,634,340	$ 16,417,397	$ 10,905,317

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Hedging And Derivative Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2013

Hedging And Derivative Financial Instruments [Abstract]

Schedule Of Movement In Price Risk Derivatives

	$ value of impact on result
	Higher/(lower)
	2013		2012
Consolidated
Gas price + 10%	$	77,207	$	102,095
Gas price – 20%	$	(154,415)	$	(204,189)
	$ value of impact on result
	Higher/(lower)
	2013		2012
Consolidated
Oil price + 10%	$	502,805	$	735,249
Oil price – 20%	$	(1,005,610)	$	(1,470,499)

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Consolidated Statements Of Cash Flows (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities
Receipts from customers	$ 6,301,239	$ 8,778,983	$ 6,281,825
Cash received from commodity derivative financial instruments		38,508	152,171
Payments to suppliers & employees	(9,952,928)	(9,296,930)	(7,073,109)
Interest received	253,000	355,945	368,251
Interest paid			(878,528)
Income taxes paid	5,581,000	2,943,975	(9,360,000)
Net cash flows provided by (used in) operating activities	2,182,311	2,820,481	(10,509,390)
Cash flows from investing activities
Proceeds from sale of listed shares			49,040
Proceeds from sale of exploration acreage			73,199,687
Proceeds from sale of oil and gas properties			6,262,374
Payments for plant & equipment	(24,000)	(189,599)	(280,663)
Payments for exploration and evaluation	(11,253,246)	(39,987,483)	(3,751,769)
Payments for oil and gas properties	(6,127,878)	(2,555,201)	(6,040,563)
Net cash flows (used in)/ provided by investing activities	(17,405,124)	(42,732,283)	69,438,106
Cash flows from financing activities
Proceeds from issue of share capital	9,409,000	632,101	3,969,374
Repayment of borrowings			(11,386,247)
Payments for costs associated with capital raising	(359,000)		(244,282)
Net cash flows (used in)/ provided by financing activities	9,050,000	632,101	(7,661,155)
Net (decrease)/increase in cash and cash equivalents	(6,172,813)	(39,279,701)	51,267,561
Cash and cash equivalents at the beginning of the year	18,845,894	58,448,477	5,885,735
Effects of exchange rate changes on cash and cash equivalents	497,546	(322,882)	1,295,181
Cash and cash equivalents at end of year	$ 13,170,627	$ 18,845,894	$ 58,448,477

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Sales Of Properties

12 Months Ended

Jun. 30, 2013

Sales Of Properties [Abstract]

Sales Of Properties

2. SALES OF PROPERTIES

Sale of undeveloped acreage in Goshen County, Wyoming.   In November 2010, we closed the sale of 24,166 acres of undeveloped oil and gas leases in Goshen County, Wyoming to Chesapeake Energy Corporation for $3,275 per acre. We recorded total net profit of $73,199,687.  Under the Company’s successful efforts method of accounting, the acreage was previously written off, and as a result had no value on the Balance Sheet when it was sold.

Sale of interest in gas assets in Jonah and Lookout Wash fields, Wyoming.   In March 2011, the Company entered into an agreement to sell its assets in the Jonah and Lookout Wash fields in Wyoming. The transaction closed in March 2011. The Company recorded a pre–tax loss of $5,411,466 related to the sale, which is aggregated within the $2,883,802 earnings from discontinued operations, net of income tax benefit, shown on the Consolidated Statement of Operations for the year ended June 30, 2011.

As the Company sold 100% of its interest in these fields and the fields were considered to be a cash generating unit, the fields have been treated as discontinued operations.  Continuing cash flows are expected to be generated by the ongoing entity.  With the sale of the producing properties, we exited all gas producing activities in the surrounding geological formation.  As we are the non-operator of our producing gas properties we do not have delivery commitments to customers or the ability to direct gas sales from our properties to certain sales contracts.

Earnings from discontinued operations, net of income tax, on the accompanying Consolidated Statement of Operations is comprised of the following:

	For the year ended June 30,
	2013		2012		2011
Sales of oil and gas	$	-	$	-	$	751,566
Lease operating expense		-		-		(336,965)
Depletion, amortization and impairment		-		-		(329,573)
Realized derivative commodity gains		-		-		152,171
Unrealized commodity derivative (losses)/ gains for changes in fair value		-		-		(24,557)
(Loss) on sale of asset		-		-		(5,411,466)
(Loss)/Earnings from discontinued operations, before income taxes		-		-		(5,198,824)
Provision for income tax benefit		-		-		7,911,211
Earnings from discontinued operations, net of income taxes		-		-		2,712,387

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Asset Retirement Obligations

12 Months Ended

Jun. 30, 2013

Asset Retirement Obligations [Abstract]

Asset Retirement Obligations

5. ASSET RETIREMENT OBLIGATIONS

The Company’s asset retirement obligations primarily represent the estimated present value of the amounts expected to be incurred to plug, abandon and remediate producing and shut–in properties at the end of their productive lives in accordance with applicable state and federal laws. The Company determines the estimated fair value of its asset retirement obligations by calculating the present value of estimated cash flows related to plugging and abandonment liabilities. The significant inputs used to calculate such liabilities include estimates of costs to be incurred, the Company’s credit adjusted discount rates, inflation rates and estimated dates of abandonment. The asset retirement liability is accreted to its present value each period and the capitalized asset retirement cost is depleted using the units–of–production method.

The following table summarizes the activities for the Company’s asset retirement obligations for the years ended June 30, 2013 and 2012:

	2013		2012
Asset retirement obligations at beginning of period	$	808,572	$	236,024
Liabilities incurred or acquired		4,691		548,945
Disposition of properties		-		-
Accretion expense		55,326		23,603
Asset retirement obligations at end of period		868,589		808,572
Less: current asset retirement obligations (classified with accounts payable and accrued liabilities)		-		-
Long-term asset retirement obligations	$	868,589	$	808,572

Discount rates used to calculate the present value vary depending on the estimated timing of the obligation, but typically range between 4% and 9%.

The increase in liabilities incurred during the prior period is a result of drilling Spirit of America I, Spirit of America II, Defender, Gretel II and Australia II.

The increase in liability incurred during the current period is a result of drilling Abercrombie and Riva Ridge in our Montana acreage.  We have very minor working interest in these projects, thus our share of the retirement obligations are minor.

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Hedging And Derivative Financial Instruments

12 Months Ended

Jun. 30, 2013

Hedging And Derivative Financial Instruments [Abstract]

Hedging And Derivative Financial Instruments

3. HEDGING AND DERIVATIVE FINANCIAL INSTRUMENTS

Commodity Derivative Agreements.   The Company utilizes swap and collar  option contracts to hedge the effect of price changes on a portion of its future oil and natural gas production. The objective of the Company’s hedging activities and the use of derivative financial instruments is to achieve more predictable cash flows. While the use of these derivative instruments limits the downside risk of adverse price movements, they also may limit future revenues from favorable price movements. The Company may, from time to time, opportunistically restructure existing derivative contracts or enter into new transactions to effectively modify the terms of current contracts in order to improve the pricing parameters in existing contracts or realize the current value of the Company’s existing positions. The Company may use the proceeds from such transactions to secure additional contracts for periods in which the Company believes it has additional unmitigated commodity price risk.

The use of derivatives involves the risk that the counterparties to such instruments will be unable to meet the financial terms of such contracts. The Company’s derivative contracts are with a single multinational bank with no history of default with the Company. The derivative contracts may be terminated by a non-defaulting party in the event of default by one of the parties to the agreement. Previously, collateral under the revolving credit facility supported the Company’s collateral obligations under the Company’s derivative contracts. Therefore, the Company is not required to post additional collateral when the Company is in a derivative liability position.        

The Company has elected not to apply hedge accounting to any of its derivative transactions and, consequently, the Company recognizes mark-to-market gains and losses in earnings currently, rather than deferring such amounts in accumulated other comprehensive income for those commodity derivatives that would qualify as cash flow hedges.

During the year ended June 30, 2011 commodity derivative losses were allocated to discontinued operations in the Statement of Operations in the amount of $24,557. During the year ended June 30, 2012 commodity derivative losses were allocated to other revenue in the amount of $22,268. As of June 30, 2013 and 2012 we had no derivative instruments.

Price risk

Price risk arises from the Company’s exposure to oil and gas prices. These commodity prices are subject to wide fluctuations and market uncertainties due to a variety of factors that are beyond the control of the Company.  Sustained weakness in oil and natural gas prices may adversely affect the Company’s financial condition.

The Company manages this risk by continually monitoring the oil and gas price and the external factors that may affect it.  The Board reviews the risk profile associated with commodity price risk periodically to ensure that it is appropriately managing this risk.  Derivatives are used to manage this risk where appropriate.  The Board must approve any derivative contracts that are entered into by the Company.

At 30 June 2013 if the price of natural gas and oil, as determined by the price at Colorado Interstate Gas price point and at Nymex, had moved, as illustrated in the table below (estimated from historical movements), with all other variables held constant, the impact would be:

	$ value of impact on result
	Higher/(lower)
	2013		2012
Consolidated
Gas price + 10%	$	77,207	$	102,095
Gas price – 20%	$	(154,415)	$	(204,189)
	$ value of impact on result
	Higher/(lower)
	2013		2012
Consolidated
Oil price + 10%	$	502,805	$	735,249
Oil price – 20%	$	(1,005,610)	$	(1,470,499)

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Sales Of Properties (Narrative) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(loss) on sale of asset			$ (5,411,466)
Income (loss) from discontinued operations, net of income taxes		0	2,712,387
Acres of undeveloped oil and gas leases sold			24,166
Sale price per acre			3,275
Undeveloped Acreage In Goshen County, Wyoming [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Close date	November 2010
Gain/(loss) on sale of asset	73,300,000		73,199,687
Interest In Gas Assets In Jonah And Lookout Wash Fields, Wyoming [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Close date	March 2011
Gain/(loss) on sale of asset			(5,411,466)
Income (loss) from discontinued operations, net of income taxes			$ 2,883,802
Percentage of interest sold		100.00%

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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2013

Income Taxes [Abstract]

Schedule Of Components Of Income Tax Provision (Benefit)

	June 30
	2013		2012		2011
Current:
Federal	$	(2,035,992)	$	(4,712,856)	$	6,742,308
State		25,712		83,663		42,025
		(2,010,280)		(4,629,193)		6,784,333
Deferred:
Federal		-		-		-
State		-		-		-
Less income tax benefit allocated to discontinued operations		-		-		(7,911,211)
Total income tax provision (benefit)	$	(2,010,280)	$	(4,629,193)	$	14,695,544

Schedule Of Effective Income tax Rate Reconciliation

		June 30
	2013		2012		2011
Income tax expense (benefit) at federal statutory rate	$	(4,114,908)	$	(10,759,693)	$	18,281,307
State income taxes		(170,787)		(460,051)		462,204
Other		(1,224,069)		(1,436,377)		3,480,237
Valuation allowance		3,499,484		8,026,928		(15,439,415)
	$	(2,010,280)	$	(4,629,193)	$	6,784,333

Schedule Of Components Of Deferred Tax Assets and (Liabilities)

	June 30
	2013		2012
Deferred income tax assets:
Net operating losses	$	13,576,942	$	4,940,710
Note payable		2,023,467		2,023,467
Asset retirement obligation		315,794		293,974
Annual leave		51,593		60,460
Abandonment limitation		2,953,235		5,559,475
Accrued bonus		-		-
Charitable contributions		-		-
Share based compensation		500,844		500,844
Valuation allowance		(16,572,701)		(13,073,217)
Deferred income tax liabilities:
Commodity liability		-		-
Amortization  - loan costs		-		-
Oil and gas property		(2,849,174)		(305,713)
Net deferred income tax assets (liabilities)		-		-
Net current deferred tax asset		-		-
Noncurrent deferred tax asset	$	-	$	-

Reconciliation Of Gross Uncertain Tax Positions

		2013		2012
Total gross uncertain tax positions at beginning of year	$	80,000	$	-
Additions / Reductions for tax positions of prior years		-		-
Additions / Reductions for tax positions of current year		25,000		80,000
Reductions due to settlements with taxing authorities		-		-
Reductions due to lapse of statute of limitations		-		-
Total amount of gross uncertain tax positions at end of year	$	105,000	$	80,000

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Quarterly Financial Data (Tables)

12 Months Ended

Jun. 30, 2013

Quarterly Financial Data [Abstract]

Schedule Of Quarterly Financial Data

	Three Months Ended
	June 30, 2013		March 31, 2013		Dec 31, 2012		Sep 30, 2012
Year ended June 30, 2013:
Revenues	$	1,579,853	$	1,178,000	$	1,842,731	$	1,668,410
Loss from operations		(1,886,339)		(8,921,000)		(1,331,454)		(1,592,536)
Tax (expense)/benefit		(25,656)		-		1,366,938		668,998
Net income (loss)		(1,911,995)		(8,921,000)		35,484		(923,538)
Basic earnings per common share – cents per share		(0.11)		(0.45)		0.00		(0.05)
Diluted earnings per common share – cents per share		(0.11)		(0.45)		0.00		(0.05)

		Three Months Ended
	June 30, 2012		March 31, 2012		Dec 31, 2011		Sep 30, 2011
Year ended June 30, 2012:
Revenues	$	1,768,020	$	2,387,735	$	2,018,758	$	2,625,241
Loss from operations		(27,965,316)		(1,394,909)		(5,757,583)		(747,836)
Tax (expense)/benefit		2,915,259		832,371		693,385		188,178
Net income (loss)		(25,050,057)		(562,538)		(5,064,198)		(559,658)
Basic loss per common share – cents per share		(1.43)		(0.03)		(0.29)		(0.03)
Diluted earnings per common share – cents per share		(1.43)		(0.03)		(0.29)		(0.03)

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Estimated Standard Measure Of Discounted Future Net CF Relating To Proved Reserves) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2009
Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations [Abstract]
Future cash inflows	$ 133,589	$ 71,655	$ 46,250	$ 67,996	$ 67,630
Future production costs	(44,672)	(29,321)	(16,046)	(23,288)	(20,290)
Future development costs	(29,012)	(10,198)	(917)	(11,910)	(5,416)
Future income taxes	(12,050)	(5,524)	(4,357)		(143)
Future net cashflows	47,855	26,612	24,930	32,798	41,781
10% discount	(26,012)	(13,274)	(10,207)	(17,675)	(24,054)
Standardized measure of discounted future net cash flows relating to proved properties	$ 21,843	$ 13,338	$ 14,723	$ 15,123	$ 17,727

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Summary Of Significant Accounting Policies (Schedule Of Oil And Gas Properties And Equipment) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Summary Of Significant Accounting Policies [Abstract]
Proved properties	$ 26,657,972	$ 25,785,108
Lease and well equipment	5,371,923	4,217,803
Work in progress	6,344,040
Less accumulated depreciation, depletion and impairment	(18,381,917)	(16,112,531)
Total oil and gas properties and equipment	19,992,018	13,890,380
Undeveloped capitalized acreage	$ 12,369,412	$ 10,017,287

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities) (Details)	12 Months Ended
	Jun. 30, 2013 MBoe	Jun. 30, 2012 MBoe	Jun. 30, 2011 MBoe
Reserve Quantities [Line Items]
Beginning of year (BOE)	996	714	2,138
Revisions of previous quantity estimates (BOE)	232	(24)	228
Extensions, discoveries and improved estimates (BOE)	186	430
Sales of reserves in place (BOE)			(1,517)
Acquisitions (BOE)	437
Production (BOE)	(90)	(124)	(135)
End of year (BOE)	1,761	996	714
Proved developed producing reserves (BOE)	586	575	667
Proved undeveloped reserves (BOE)	1,175	422	47
Proved reserves (BOE)	1,761	996	714
Oil [Member]
Reserve Quantities [Line Items]
Beginning of year (Volume)	770	495	451
Revisions of previous quantity estimates (Volume)	227	4	156
Extensions, discoveries and improved recovery (Volume)	153	359
Sales of reserves in place (Volume)			(48)
Acquisitions (Volume)	364
Production (Volume)	(62)	(88)	(64)
End of year (Volume)	1,452	770	495
Proved developed producing reserves (Volume)	454	419	455
Proved undeveloped reserves (Volume)	998	351	40
Proved reserves (Volume)	1,452	770	495
Natural Gas [Member]
Reserve Quantities [Line Items]
Beginning of year (Volume)	1,352	1,311	10,119
Revisions of previous quantity estimates (Volume)	27	(168)	431
Extensions, discoveries and improved recovery (Volume)	198	423
Sales of reserves in place (Volume)			(8,816)
Acquisitions (Volume)	435
Production (Volume)	(167)	(214)	(423)
End of year (Volume)	1,845	1,352	1,311
Proved developed producing reserves (Volume)	784	927	1,274
Proved undeveloped reserves (Volume)	1,061	425	37
Proved reserves (Volume)	1,845	1,352	1,311

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Cash Flow Statement (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Cash Flow Statement [Abstract]
Net profit/(loss) after tax	$ (11,721,049)	$ (31,236,451)	$ 54,148,222
Net (gain)/loss recognized on re-measurement to fair-value of investments held for trading			(5,494)
Depreciation of non-current assets	1,975,932	2,776,005	2,212,661
Foreign exchange loss	55,326	23,603	23,909
Share based payments	199,437	1,167,801	2,473,477
Exploration expense	7,929,204	30,559,458	404,031
Net gain on fair value movement of fixed forward swaps			24,557
Impairment losses of oil and gas properties	259,529	635,464
Net gain on sale of assets			(67,788,222)
(Increase)/decrease in receivables	3,601,100	(1,360,049)	(3,101,846)
Increase/(decrease) in employee benefits	7,832	72,645	53,386
Increase/(decrease) in payables	(125,000)	182,005	1,045,929
Net Cash Provided by (Used in) Operating Activities, Continuing Operations, Total	$ 2,182,311	$ 2,820,481	$ (10,509,390)

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Income Taxes (Schedule Of Components Of Deferred Tax Assets and (Liabilities)) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Income Taxes [Abstract]
Net operating losses	$ 13,576,942	$ 4,940,710
Note payable	2,023,467	2,023,467
Asset retirement obligation	315,794	293,974
Annual leave	51,593	60,460
Abandonment limitation	2,953,235	5,559,475
Share based compensation	500,844	500,844
Valuation allowance	(16,572,701)	(13,073,217)
Oil and gas property	(2,849,174)	(305,713)
Net deferred income tax assets (liabilities)
Net current deferred tax asset
Noncurrent deferred tax asset

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Fair Value Measurements (Schedule Of Fair Value, Assets And Liabilities Measured On Recurring And Nonrecurring Basis) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 13,170,627	$ 18,845,894
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	13,170,627	18,845,894
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents

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Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Consolidated Balance Sheets [Abstract]
Accounts receivable, allowance for doubtful accounts
Other property and equipment, accumulated depreciation and amortization	$ 351,037	$ 252,254
Common stock, par value
Common stock, ADR	111,458,258	88,594,591
Common stock, shares outstanding	2,229,165,163	1,771,891,827

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Cash Flow Statement

12 Months Ended

Jun. 30, 2013

Cash Flow Statement [Abstract]

Cash Flow Statement

8. CASH FLOW STATEMENT

	Year ended June 30
	2013		2012		2011
Reconciliation of the net profit/(loss) after tax to the net cash flows from operations
Net profit/(loss) after tax	$	(11,721,049)	$	(31,236,451)	$	54,148,222
Net gain recognized on re-measurement to fair-value of investments held for trading		-		-		(5,494)
Depreciation of non-current assets		1,975,932		2,776,005		2,212,661
Accretion of asset retirment obligation		55,326		23,603		23,909
Share based payments		199,437		1,167,801		2,473,477
Interest expense		-		-		-
Exploration expenditure		7,929,204		30,559,458		404,031
Net (gain)/loss on fair value movement of fixed forward swaps		-		-		24,557
Impairment losses of oil and gas properties		259,529		635,464		-
Net gain on sale of assets		-		-		(67,788,222)
Changes in assets and liabilities:
(Increase)/decrease in receivables		3,601,100		(1,360,049)		(3,101,846)
Increase in employee benefits		7,832		72,645		53,386
(Decrease)/Increase in payables		(125,000)		182,005		1,045,929
NET CASH FLOWS USED IN OPERATING ACTIVITIES	$	2,182,311	$	2,820,481	$	(10,509,390)

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Consolidated Statements Of Changes In Stockholders' Equity (USD $)	Issued Capital [Member]	Retained Earnings/(Accumulated Deficit) [Member]	Other Comprehensive Income (Loss) [Member]	Total
Beginning Balance, value at Jun. 30, 2010	$ 78,133,694	$ (60,979,437)	$ 1,836,648	$ 18,990,905
Net loss		54,148,222		54,148,222
Foreign currency translation			1,253,147	1,253,147
Total comprehensive loss for the period		54,148,222	1,253,147	55,401,369
Share based payment, value	150,617			150,617
Stock based compensation	2,322,860			2,322,860
Issue of share capital	1,098,028			1,098,028
Share issue costs	(37,114)			(37,114)
Ending Balance, value at Jun. 30, 2011	81,668,085	(6,831,215)	3,089,795	77,926,665
Net loss		(31,236,451)		(31,236,451)
Foreign currency translation			(317,037)	(317,037)
Total comprehensive loss for the period		(31,236,451)	(317,037)	(31,553,488)
Stock based compensation	1,167,801			1,167,801
Issue of share capital	632,101			632,101
Ending Balance, value at Jun. 30, 2012	83,467,987	(38,067,666)	2,772,758	48,173,079
Net loss		(11,721,049)		(11,721,049)
Foreign currency translation			(794,508)	(794,508)
Total comprehensive loss for the period		(11,721,049)	(794,508)	(12,515,557)
Stock based compensation	199,437			199,437
Issue of share capital	9,409,451			9,409,451
Share issue costs	(359,091)			(359,091)
Ending Balance, value at Jun. 30, 2013	$ 92,717,784	$ (49,788,715)	$ 1,978,250	$ 44,907,319

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Share-Based Payments (Schedule Of Share-Based Compensation Recognized In General And Administrative Expense) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Share-Based Payments [Abstract]
Share-based compensation expensed	$ 199,436	$ 1,167,801	$ 2,473,477

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Consolidated Balance Sheets (USD $)	Jun. 30, 2013	Jun. 30, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 13,170,627	$ 18,845,894
Accounts receivable, net of allowance for doubtful accounts of $nil and $nil respectively	3,090,666	1,288,159
Prepayments	411,113	344,108
Pipe inventory - held by third party	78,944	78,944
Income tax receivable	777,804	4,347,456
Derivative instruments	0	0
Total current assets	17,529,154	24,904,561
PROPERTY, PLANT AND EQUIPMENT, AT COST
Oil and gas properties, successful efforts method of accounting, less accumulated depreciation, depletion and impairment	19,992,018	13,890,380
Other property and equipment, net of accumulated depreciation and amortization of $351,037 and $252,254 at June 30, 2013 and June 2012, respectively	367,657	448,061
Net property, plant and equipment	20,359,675	14,338,441
OTHER ASSETS
Undeveloped capitalized acreage	12,369,412	10,017,287
Capitalized exploration expense	2,468,934	6,362,989
Other	79,490	99,961
TOTAL ASSETS	52,806,665	55,723,239
CURRENT LIABILITIES
Accounts payable	1,381,407	5,269,748
Accrued liabilities	5,406,982	1,229,982
Provision for annual leave	242,368	234,536
Total current liabilities	7,030,757	6,734,266
Capitalized lease		7,322
Asset retirement obligations	868,589	808,572
Total liabilities	7,899,346	7,550,160
STOCKHOLDERS' EQUITY - nil par value
Common stock, 2,229,165,163 (equivalent to 111,458,258 ADRs) and 1,771,891,827 (equivalent to 88,594,591 ADRs) shares issued and outstanding at June 30, 2013 and 2012, respectively)	92,717,784	83,467,987
Other comprehensive income	1,978,250	2,772,758
Retained earnings (accumulated deficit)	(49,788,715)	(38,067,666)
Total stockholders' equity	44,907,319	48,173,079
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 52,806,665	$ 55,723,239

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Income Taxes (Reconciliation Of Gross Uncertain Tax Positions) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
Income Taxes [Abstract]
Total gross uncertain tax positions at beginning of year	$ 80,000
Additions / Reductions for tax positions of prior years
Additions / Reductions for tax positions of current year	25,000	80,000
Reductions due to settlements with taxing authorities
Reductions due to lapse of statute of limitations
Total amount of gross uncertain tax positions at end of year	$ 105,000	$ 80,000

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Capital Stock Contributed Equity (Tables)

12 Months Ended

Jun. 30, 2013

Capital Stock Contributed Equity [Abstract]

Contributed Equity

	Consolidated Entity
	2013		2012
2,229,165,163 ordinary fully paid shares including shares to be issued	$	92,717,784	$	83,467,987
(2012 – 1,772,456,827 ordinary fully paid shares including shares to be issued)

Movements In Contributed Equity For The Year

Movements in contributed equity for the year	2013				2012
	No. of shares		$		No. of shares		$
Opening balance		1,771,891,827		83,467,987		1,731,978,789		81,668,085
Capital raising (i)		243,271,098		6,066,792		-		-
Shares issued upon exercise of options (ii)		214,002,238		3,342,660		39,913,038		632,101
Stock based compensation (options issued)		-		199,437		-		1,167,801
Transaction costs incurred		-		(359,091)		-		-
Shares on issue at balance date		2,229,165,163		92,717,784		1,771,891,827		83,467,987

(i)  In March 2013, we issued 109,752,575 ordinary shares at 0.0259 cents to raise $2,850,000 in a private placement to certain institutional investors.   In April 2013, we issued 19,182,812 ordinary shares at 0.026 cents to raise $500,000 in a private placement to certain institutional investors.   In June 2013, we completed a rights offering and issued 114,335,711 ordinary shares to raise $2,716,701.

(ii) During the course of the year the Company issued  214,002,238 (2012: 39,913,038) ordinary shares upon the exercise of 214,002,238 (2012: 39,913,038) options.  

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Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2013

Summary Of Significant Accounting Policies [Abstract]

Schedule Of Components Of Accounts Receivable

	June 30
	2013		2012
Oil and natural gas sales related	$	818,820	$	860,749
Cost recovery from JV partners		2,214,940		379,130
Other		56,906		48,280
Total accounts receivable, net of nil allowance for doubtful accounts for June 30, 2013 and 2012	$	3,090,666	$	1,288,159

Schedule Of Components Of Accrued Liabilities

	2013		2012
Bonus Accrual		-		133,168
Other accruals		5,406,982		1,096,814
	$	5,406,982	$	1,229,982

Schedule Of Oil And Gas Properties And Equipment

	2013		2012
Proved properties	$	26,657,972	$	25,785,108
Lease and well equipment		5,371,923		4,217,803
Work in progress		6,344,040		-
Less accumulated depreciation, depletion and impairment		(18,381,917)		(16,112,531)
	$	19,992,018	$	13,890,380
Undeveloped acreage	$	12,369,412	$	10,017,287

Schedule Of Other Property And Equipment

	2013		2012
Furniture, fittings and equipment	$	718,694	$	700,315
Less accumulated depreciation		(351,037)		(252,254)
	$	367,657	$	448,061

Schedule Of Weighted Average Dilutive And Anti-Dilutive Securities

	Year ended June 30,
	2013		2012		2011
Dilutive		-		-		325,033,863
Anti–dilutive		142,694,297		289,942,436		8,379,077

Schedule Of Earnings Per Share, Basic And Diluted

Continuing operations	Year ended June 30,
	2013		2012		2011
Net income (loss) from continuing operations	$	(11,721,049)	$	(31,236,451)	$	51,435,835
Basic weighted average common shares outstanding		1,935,438,970		1,752,408,357		1,680,247,878
Add: dilutive effect of stock options		-		-		261,317,567
Add: bonus element for rights issue		-		-		26,488,246
Diluted weighted average common shares outstanding		1,935,438,970		1,752,408,357		1,968,053,691
Basic earnings per common share – cents per share		(0.61)		(1.78)		3.06
Diluted earnings per common share – cents per share		(0.61)		(1.78)		2.61
Discontinued operations	Year ended June 30,
	2013		2012		2011
Net income (loss) from discontinued operations	$	-	$	-	$	2,712,387
Basic weighted average common shares outstanding		-		-		1,680,247,878
Add: dilutive effect of stock options		-		-		261,317,567
Add: bonus element for rights issue		-		-		26,488,246
Diluted weighted average common shares outstanding		-		-		1,968,053,691
Basic earnings per common share – cents per share		-		-		0.16
Diluted earnings per common share – cents per share		-		-		0.14

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Fair Value Measurements (Narrative) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Fair Value Measurements [Abstract]
Impairment of oil and natural gas properties	$ 259,529	$ 635,464

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Capital Stock Contributed Equity (Movements In Contributed Equity For The Year) (Details) (USD $)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2010
Capital Stock Contributed Equity [Abstract]
Beginning Balance, shares	1,771,891,827	1,731,978,789
Opening balance, value	$ 83,467,987	$ 81,668,085
Capital raising, shares	243,271,098
Capital raising	6,066,792
Shares issued upon exercise of options, shares	214,002,238	39,913,038	70,572,446	22,324,842
Shares issued upon exercise of options, value	3,342,660	632,101
Share based payment, value			150,617
Stock based compensation (options issued), value	199,437	1,167,801	2,322,860
Transaction costs incurred, value	(359,091)		(37,114)
Ending Balance, shares	2,229,165,163	1,771,891,827	1,731,978,789
Shares on issue at balance date, value	$ 92,717,784	$ 83,467,987	$ 81,668,085

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Subsequent Events (Details)	12 Months Ended			1 Months Ended
	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($) acre	Aug. 31, 2013 Subsequent Event [Member] USD ($)	Aug. 31, 2013 Subsequent Event [Member] AUD	Aug. 31, 2013 Subsequent Event [Member] Warrant [Member]
Subsequent Event [Line Items]
Number of acres			24,166
Shares issued	243,271,098			318,452,166	318,452,166	127,380,866
Shares issued, price per share					0.025
Exercise price of warrants					0.038
Cash raised from placement, after expenses	$ 9,409,451	$ 632,101	$ 1,098,028	$ 6,700,000
Divestiture of equity, cash and consideration				5,562,000
Percentage of working interest transferred				25.00%	25.00%
Cash portion of purchase price subject to useable well				$ 900,000

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Summary Of Significant Accounting Policies (Schedule Of Weighted Average Dilutive And Anti-Dilutive Securities) (Details)	12 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Diluted weighted average common shares outstanding	1,935,438,970	1,752,408,357	1,968,053,691
Options And Warrants [Member]
Diluted weighted average common shares outstanding			325,033,863
Anit-dilutive weighted average common shares outstanding	142,694,297	289,942,436	8,379,077

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Summary Of Significant Accounting Policies (Schedule Of Components Of Accounts Receivable) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 3,090,666	$ 1,288,159
Accounts receivable, allowance for doubtful accounts
Oil And Natural Gas Sales Related Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	818,820	860,749
Cost Recovery From JV Partner Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	2,214,940	379,130
Other Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 56,906	$ 48,280

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Summary Of Significant Accounting Policies (Schedule Of Components Of Accrued Liabilities) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012
Summary Of Significant Accounting Policies [Abstract]
Bonus Accrual	$ 0	$ 133,168
Other accruals	5,406,982	1,096,814
Total accrued liabilities	$ 5,406,982	$ 1,229,982

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Capital Stock Contributed Equity

12 Months Ended

Jun. 30, 2013

Capital Stock Contributed Equity [Abstract]

Capital Stock Contributed Equity

7. CAPITAL STOCK CONTRIBUTED EQUITY

	Consolidated Entity
	2013		2012
2,229,165,163 ordinary fully paid shares including shares to be issued	$	92,717,784	$	83,467,987
(2012 – 1,772,456,827 ordinary fully paid shares including shares to be issued)

Movements in contributed equity for the year	2013				2012
	No. of shares		$		No. of shares		$
Opening balance		1,771,891,827		83,467,987		1,731,978,789		81,668,085
Capital raising (i)		243,271,098		6,066,792		-		-
Shares issued upon exercise of options (ii)		214,002,238		3,342,660		39,913,038		632,101
Stock based compensation (options issued)		-		199,437		-		1,167,801
Transaction costs incurred		-		(359,091)		-		-
Shares on issue at balance date		2,229,165,163		92,717,784		1,771,891,827		83,467,987

(i)  In March 2013, we issued 109,752,575 ordinary shares at 0.0259 cents to raise $2,850,000 in a private placement to certain institutional investors.   In April 2013, we issued 19,182,812 ordinary shares at 0.026 cents to raise $500,000 in a private placement to certain institutional investors.   In June 2013, we completed a rights offering and issued 114,335,711 ordinary shares to raise $2,716,701.

(ii) During the course of the year the Company issued  214,002,238 (2012: 39,913,038) ordinary shares upon the exercise of 214,002,238 (2012: 39,913,038) options.  

The exercise price of 214,002,238 (2012: 39,913,038) of the options exercised was A$0.015 cents per share/US$0.015 cents per shares (average price based on the exchange rate on the date of exercise) (2012:A$0.015/US$0.015 cents per share) to raise US$3,342,660(2012:US$632,101).

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Related Party Transactions (Details) (USD $)	12 Months Ended
	Jun. 30, 2011
Related Party Transactions [Abstract]
Legal fees	$ 18,853

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Cash Flow Statement (Tables)

12 Months Ended

Jun. 30, 2013

Cash Flow Statement [Abstract]

Schedule Of Cash Flow Statement

	Year ended June 30
	2013		2012		2011
Reconciliation of the net profit/(loss) after tax to the net cash flows from operations
Net profit/(loss) after tax	$	(11,721,049)	$	(31,236,451)	$	54,148,222
Net gain recognized on re-measurement to fair-value of investments held for trading		-		-		(5,494)
Depreciation of non-current assets		1,975,932		2,776,005		2,212,661
Accretion of asset retirment obligation		55,326		23,603		23,909
Share based payments		199,437		1,167,801		2,473,477
Interest expense		-		-		-
Exploration expenditure		7,929,204		30,559,458		404,031
Net (gain)/loss on fair value movement of fixed forward swaps		-		-		24,557
Impairment losses of oil and gas properties		259,529		635,464		-
Net gain on sale of assets		-		-		(67,788,222)
Changes in assets and liabilities:
(Increase)/decrease in receivables		3,601,100		(1,360,049)		(3,101,846)
Increase in employee benefits		7,832		72,645		53,386
(Decrease)/Increase in payables		(125,000)		182,005		1,045,929
NET CASH FLOWS USED IN OPERATING ACTIVITIES	$	2,182,311	$	2,820,481	$	(10,509,390)

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Sales Of Properties (Schedule Of Earnings From Discontinued Operations, Net Of Income Tax) (Details) (USD $)	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Sales Of Properties [Abstract]
Sales of oil and gas		$ 751,566
Lease operating expense		(336,965)
Depletion, amortization and impairment		(329,573)
Realized derivative commodity gains		152,171
Unrealized commodity derivative (losses)/ gains for changes in fair value		(24,557)
(Loss) on sale of asset		(5,411,466)
(Loss)/Earnings from discontinued operations, before income taxes		(5,198,824)
Provision for income tax benefit		7,911,211
Earnings from discontinued operations, net of income taxes	$ 0	$ 2,712,387

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Related Party Transactions

12 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

10. RELATED PARTY TRANSACTIONS

During the year ended June 30, 2011 the Company paid $18,853 in legal fees to Minter Ellison, the employer of Neil Fearis (an alternative director to the Chairman).  The fees were charged on normal commercial terms.  Neil Fearis ceased being an alternative director on July 1, 2011.

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Income Taxes

12 Months Ended

Jun. 30, 2013

Income Taxes [Abstract]

Income Taxes

6. INCOME TAXES

The Company accounts for income taxes under the asset and liability approach prescribed by GAAP, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns.

The Company’s income tax provision (benefit) is composed of the following:

	June 30
	2013		2012		2011
Current:
Federal	$	(2,035,992)	$	(4,712,856)	$	6,742,308
State		25,712		83,663		42,025
		(2,010,280)		(4,629,193)		6,784,333
Deferred:
Federal		-		-		-
State		-		-		-
Less income tax benefit allocated to discontinued operations		-		-		(7,911,211)
Total income tax provision (benefit)	$	(2,010,280)	$	(4,629,193)	$	14,695,544

A reconciliation of the income tax provision (benefit) computed by applying the federal statutory rate of 30% to the Company’s income tax provision (benefit) is as follows (in thousands):

		June 30
	2013		2012		2011
Income tax expense (benefit) at federal statutory rate	$	(4,114,908)	$	(10,759,693)	$	18,281,307
State income taxes		(170,787)		(460,051)		462,204
Other		(1,224,069)		(1,436,377)		3,480,237
Valuation allowance		3,499,484		8,026,928		(15,439,415)
	$	(2,010,280)	$	(4,629,193)	$	6,784,333

The components of deferred tax assets and (liabilities) are as follows (in thousands):

	June 30
	2013		2012
Deferred income tax assets:
Net operating losses	$	13,576,942	$	4,940,710
Note payable		2,023,467		2,023,467
Asset retirement obligation		315,794		293,974
Annual leave		51,593		60,460
Abandonment limitation		2,953,235		5,559,475
Accrued bonus		-		-
Charitable contributions		-		-
Share based compensation		500,844		500,844
Valuation allowance		(16,572,701)		(13,073,217)
Deferred income tax liabilities:
Commodity liability		-		-
Amortization  - loan costs		-		-
Oil and gas property		(2,849,174)		(305,713)
Net deferred income tax assets (liabilities)		-		-
Net current deferred tax asset		-		-
Noncurrent deferred tax asset	$	-	$	-

The Company has tax losses carried forward arising in Australia of $10,298,250 (2012: $9,553,496).  The benefit of these losses of $3,089,475 (2012: $2,866,049) will only be obtained in future years if:

(i)	the Parent Entity derive future assessable income of a nature and an amount sufficient to enable the benefit from the deduction for the losses to be realized; and
(ii)	the Parent Entity have complied and continue to comply with the conditions for deductibility imposed by law; and
(iii)	no changes in tax legislation adversely affect the Parent Entity in realizing the benefit from deduction for the losses.

The Company has federal net operating tax losses in the United States of approximately $28,164,751 (2012: $17,674,196).  The current year utilization carried back to prior years, is approximately $nil (2012: $18,246,031) and future years are limited to an estimated $403,194 per year as a result of a change in ownership of the one of the subsidiaries which occurred in January 2005.  If not utilized, the tax net operating losses will expire during the period from 2012 to 2033.

The Company has recognized tax benefit of $2,010,280 for the year ended June 30, 2013 compared to a benefit of$4,629,193in the prior year, before discontinued operations.

In addition to the above mentioned Federal carried forward losses in the United States, the Company also has approximately $1,154,648(2012: $11,257,204) of State carried forward tax losses, with expiry dates between June 2013 and June 2033.  A deferred income tax asset in relation to these losses has not been recognized as realization of the benefit is not regarded as probable.

In assessing the realizeability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the use of such net operating losses are allowed. Among other items, Management considers the scheduled reversal of deferred tax liabilities, tax planning strategies and projected future taxable income.  As of the current year end, the company does not believe the realizeablity of the deferred tax assets to be more likely than not.  As such, the company has a full valuation allowance offsetting the deferred tax asset.

The Company adopted the uncertainty provision of FASB ASC Topic 740, "Income Taxes" and has analyzed filing positions in all federal and state jurisdictions where it is required to file income tax returns, as well as all open tax years in this jurisdictions. Most uncertain tax positions relate primarily to timing differences and management does not believe any such uncertain tax positions will materially impact the Company's effective tax rate in future periods. The state of North Dakota has opened an audit of the tax return for the year ending June 30, 2011.  We have recorded a liability to reflect the potential exposure based on the issues being raised with regard to the sale of Wyoming proven and unproven properties.  The Company anticipates that no additional uncertain tax positions will be recognized within the next twelve months. Our policy is to recognize any interest and penalties related to the unrecognized tax benefits in income tax expense.  In our major tax jurisdictions, the earliest years remaining open to examination are as follows US - 6/30/1996 due to the usage of net operating losses from that period.  If recognized, these uncertain tax positions would impact the Company's effective income tax rate. A reconciliation of the beginning and ending amount of gross uncertain tax positions is as follows:

		2013		2012
Total gross uncertain tax positions at beginning of year	$	80,000	$	-
Additions / Reductions for tax positions of prior years		-		-
Additions / Reductions for tax positions of current year		25,000		80,000
Reductions due to settlements with taxing authorities		-		-
Reductions due to lapse of statute of limitations		-		-
Total amount of gross uncertain tax positions at end of year	$	105,000	$	80,000

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Summary Of Significant Accounting Policies

12 Months Ended

Jun. 30, 2013

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Operations.   Samson Oil & Gas Limited and its consolidated subsidiaries (“Samson” or the “Company”), is engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties with a focus on properties in North Dakota, Montana and Wyoming.

Principles of Consolidation.   The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates.   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Items subject to such estimates and assumptions include (1) oil and gas reserves; (2) cash flow estimates used in impairment tests of long–lived assets; (3) depreciation, depletion and amortization; (4) asset retirement obligations; (5) assigning fair value and allocating purchase price in connection with business combinations; (6) accrued revenue and related receivables; (7) valuation of commodity and interest derivative instruments; (8) accrued liabilities; (9) valuation of share-based payments and (10) income taxes. Although management believes these estimates are reasonable, actual results could differ from these estimates. The Company has evaluated subsequent events and transactions for matters that may require recognition or disclosure in these financial statements.

Business Segment Information.   The Company has evaluated how it is organized and managed and has identified only one operating segment, which is the exploration and production of crude oil, natural gas and natural gas liquids. All of the Company's operations and assets are located in the United States, and all of its revenues are attributable to United States customers.

Revenue Recognition and Gas Imbalances.   Revenues from the sale of natural gas and crude oil are recognized when the product is delivered at a fixed or determinable price, title has transferred and collectability is reasonably assured and evidenced by a contract. This generally occurs when a barge completes delivery, oil or natural gas has been delivered to a refinery or a pipeline, or has otherwise been transferred to a customer's facilities or possession. Oil revenues are generally recognized based on actual volumes of completed deliveries where title has transferred. Title to oil sold is typically transferred at the wellhead.

The Company uses the entitlement method of accounting for natural gas revenues. Under this method, revenues are recognized based on actual production of natural gas. The Company incurs production gas volume imbalances in the ordinary course of business. Net deliveries in excess of entitled amounts are recorded as liabilities, while net under–deliveries are reflected as assets. Imbalances are reduced either by subsequent recoupment of over– and under– deliveries or by cash settlement, as required by applicable contracts. The Company's production imbalances were not material at June 30, 2013 or 2012.

Other income in the prior year primarily includes amounts from derivative contracts and interest from cash held. Other income in the current year, also includes a non-refundable deposit received by us in relation to the sale of our acreage position in our Roosevelt project in Roosevelt County, Montana. This sale did not close and the purchase and sale agreement associated it was terminated.

Cash and Cash Equivalents.   The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash management process provides for the daily funding of checks as they are presented to the bank. Bank overdrafts are included within borrowings in current liabilities on the balance sheet.

Accounts Receivable.   The components of accounts receivable include the following:

	June 30
	2013		2012
Oil and natural gas sales related	$	818,820	$	860,749
Cost recovery from JV partners		2,214,940		379,130
Other		56,906		48,280
Total accounts receivable, net of nil allowance for doubtful accounts for June 30, 2013 and 2012	$	3,090,666	$	1,288,159

The Company's accounts receivable result from (i) oil and natural gas sales to oil and intrastate gas pipeline companies and (ii) billings to joint working interest partners in properties operated by the Company. The Company's trade and accrued production receivables are dispersed among various customers and purchasers and most of the Company's significant purchasers are large companies with solid credit ratings.

The cost recovery from JV partners relates to JV partners share of drilling costs associated with the current drilling program in our North Stockyard infill project.

Inventories. Inventories are comprised of tubular goods and well equipment held by a third party. All inventory balances are carried at lower of average cost or market.

Accruals.   The components of accrued liabilities for the years ended June 30, 2013 and 2012 are as follows:

	2013		2012
Bonus Accrual		-		133,168
Other accruals		5,406,982		1,096,814
	$	5,406,982	$	1,229,982

The majority of other accruals in the current year relate to expensed incurred in relation to our infill drilling program in our North Stockyard field in North Dakota.

The bonus accrual for June 30, 2012 was $133,168and has been determined from meeting a number of targets as set forth by the Board of Directors and Compensation Committee. The bonus was paid in September 2012.

A bonus plan is in place for the calendar year ended December 31, 2013, which is at the discretion of the Compensation Committee and is capped at 20% of each employees total bonus pool.No bonus payment has been accrued for year ended June 30, 2013.

Oil and Natural Gas Properties.

Oil and gas properties and equipment consist of the following at June 30:

	2013		2012
Proved properties	$	26,657,972	$	25,785,108
Lease and well equipment		5,371,923		4,217,803
Work in progress		6,344,040		-
Less accumulated depreciation, depletion and impairment		(18,381,917)		(16,112,531)
	$	19,992,018	$	13,890,380
Undeveloped acreage	$	12,369,412	$	10,017,287

The Company accounts for its oil and gas exploration and development costs using the successful efforts method. Geological and geophysical costs are expensed as incurred. Exploratory well costs are capitalized pending further evaluation of whether economically recoverable reserves have been found. If economically recoverable reserves are not found, exploratory well costs are expensed as dry holes. All exploratory wells are evaluated for economic viability within one year of well completion, and the related capitalized costs are reviewed quarterly.

Exploratory wells that discover potentially economic reserves in areas where a major capital expenditure would be required before production could begin and where the economic viability of that major capital expenditure depends upon the successful completion of further exploratory work in the area remain capitalized if the well finds a sufficient quantity of reserves to justify its completion as a producing well and the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project.

The costs of development wells are capitalized whether productive or nonproductive. The provision for depletion of oil and gas properties is calculated on a field–by–field basis using the unit–of–production method. If the estimates of total proved or proved developed reserves decline, the rate at which the Company records depreciation, depletion and amortization (DD&A) expense increases, which in turn reduces net earnings. Such a decline in reserves may result from lower commodity prices, which may make it uneconomic to drill for and produce higher cost fields. The Company is unable to predict changes in reserve quantity estimates as such quantities are dependent on the success of its development program, as well as future economic conditions. Changes in reserves are applied on a prospective basis.

Acquisition costs of proved undeveloped and unproved properties qualify for interest capitalization during a period if interest cost is incurred and activities necessary to bring the properties into a productive state are in progress. As wells are drilled in a field with proved undeveloped reserves or unproved reserves, a portion of the acquisition costs are either re–designated as proved developed or expensed, as appropriate. In fields with multiple potential drilling sites, the Company determines  the amount of the acquisition cost to re–designate or expense through a systematic and rational basis that considers the total expected wells to be drilled in that field.

The Company reviews its proved oil and natural gas properties for impairment whenever events and circumstances indicate that a decline in the recoverability of their carrying value may have occurred. The Company estimates the expected future cash flows of its oil and natural gas properties and compares these undiscounted future cash flows to the carrying amount of the oil and natural gas properties to determine if the carrying amount is recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company will adjust the carrying amount of the oil and natural gas properties to fair value. The factors used to determine fair value include, but are not limited to, recent sales prices of comparable properties, the present value of future cash flows, net of estimated operating and development costs using estimates of reserves, future commodity pricing, future production estimates, anticipated capital expenditures and various discount rates commensurate with the risk associated with realizing the projected cash flows. Unproved oil and natural gas properties are assessed periodically for impairment on a property–by–property basis based on remaining lease terms, drilling results, reservoir performance, commodity price outlooks or future plans to develop acreage and allocate capital. When the Company has allocated fair values to significant unproved property (probable reserves) as the result of a business combination or other purchase of proved and unproved properties, it uses a future cash flow analysis to assess the property for impairment. Probable reserves are defined as those additional reserves that are less certain to be recovered than proved reserves but which, together with proved reserves, are as likely as not to be recovered.

Gains on sales of proved and unproved properties are only recognized when there is no uncertainty about the recovery of costs applicable to any interest retained or where there is no substantial obligation for future performance by the Company. Impairment on properties sold is recognized when incurred or when the properties are held for sale and the fair value of the properties is less than the carrying value.

We have capitalized leasehold acreage in relation to our Hawk Springs project in Goshen County, Wyoming and Roosevelt Project in Roosevelt County, Montana.  We will continue to carry the cost of this acreage in our Balance Sheet until such time as we do not believe it is recoverable through sale or development.

Refer to Item 1 & 2 Business Properties for further details in regards to our oil and gas properties and exploration projects.

Work in progress

Work in progress relates to costs associated with the drilling of wells in Samson’s in fill development project in its North Stockyard field. These wells were not completed as at 30 June 2013 and work is continuing on them.  

In August 2013 the Company divested half its equity position in the undeveloped acreage in the North Stockyard project to Slawson Exploration Company Inc. for $5.562 million in cash and other consideration.  The Company retained our full interest in in the currently producing wells in the North Stockyard field. As a consequence of the transaction the rig contract with Frontier was also terminated, with no penalty payment. Slawson are now the operator of the project going forward for the development of the undeveloped acreage. 

Along with the undeveloped acreage, we have also transferred 25% working interest in the drilled but not yet completed Billabong and Sail and Anchor wells. The cash portion of the purchase price is subject to the delivery of a useable well bore in Billabong, valued in the agreement at $0.9 million and other customary post closing adjustments.

Capitalized interest

Interest capitalization begins at the acquisition date and continues as long as development activities to prepare the asset for intended use are ongoing. No interest has been capitalized during the year ended June 30, 2013 and June 31, 2012 as we did not have any outstanding debt, therefore incurred no interest.

During fiscal year 2011 the Company capitalized interest on two wells being drilled in its North Stockyard field as significant delays were incurred in commencing production from these wells following delays in sourcing fracture stimulation crews and equipment by the operator of the field. Interest capitalization on acquisition costs will depend on whether or not development activities are continuing and whether or not the Company incurs external debt expense. Interest was capitalized from July 2010 through March 2011, when the related wells commenced production. The Company repaid its loan balance in full in May 2011 (See Note 3). Interest capitalization ceases when the well commences production.  Capitalized interest is added to the depreciable base of the assets and is expensed on a units-of-production basis over the life of the respective project.

In the financial year ended June 30, 2011, interest costs of $74,466 were capitalized to two wells drilled in the North Stockyard field.

Exploration written off, including dry hole expenses

During the fiscal year ended June 30, 2013 we continued work on our Spirit of America 2 well in our Hawk Springs project in Goshen County, Wyoming.  Three of the four potential completion zones were water saturated and therefore non-productive for hydro carbons.  A workover is needed prior to being able to complete the remaining fourth zone.  This work is planned to be completed during the coming year, however it is unlikely that the costs of the well will be recovered and $7.4 million in previously capitalized exploration costs in relation to this well were written off during quarter ended March 31, 2013.

During the fiscal year ended June 30, 2012 we drilled Spirit of America 1 in our Hawk Springs project in Goshen County, Wyoming.  Numerous operational difficulties were encountered when drilling this well and it ultimately failed to reach its target.  The Company wrote off $4.9 million in relation to this well and recorded it as exploration and evaluation expenditure on the Statement of Operations.

No dry hole costs were incurred during the year ended June 30, 2011.

During the fiscal year ended June 30, 2012 we also wrote off  $24.7 million in exploration expense as a result of poor drilling results in relation to our the two exploratory wells – Australia II and Gretel II drilled in our Roosevelt Project in Roosevelt County, Montana.  Although these wells maybe productive in the future, we do not believe we will recover the costs incurred to drill them and have therefore written them off.

Impairment

We recorded impairment charges of $0.3 million, $0.6 and $nil million for the years ended June 30, 2013, 2012 and 2011 respectively.  The charges in the current year relate to the continued poor performance of our Roosevelt Project wells – Riva Ridge, Abercrombie, Australia II and Gretel II. 

The charges in the prior year were related in part to a decrease in value of our Davis Bintliff well in Brazoria County, Texas. This well is a gas well and has declined value in line with the decline in the natural gas price.  It continues to perform in line with our forecast decline curve. Other prior year impairment was  recorded in relation to the asset value of our asset retirement obligation in relation to exploratory wells drilled during June 30, 2012 – Defender, Spirit of America I, Australia II and Gretel II.

The charges in 2010 were primarily as a result of decreases in commodity prices, in particular natural gas seen in recent years.

Other Property and Equipment.

Other property and equipment, which includes leasehold improvements, office and other equipment, are stated at cost. Depreciation and amortization are calculated using the straight–line method over the estimated useful lives of the related assets, ranging from 3 to 25 years. Depreciation and amortization expense for the years ended June 30, 2013, 2012 and 2011 was$101,484, $90,015 and $50,532, respectively.

Other property and equipment consists of the following at June 30:

	2013		2012
Furniture, fittings and equipment	$	718,694	$	700,315
Less accumulated depreciation		(351,037)		(252,254)
	$	367,657	$	448,061

Derivative Financial Instruments.   The Company enters into derivative contracts, primarily collars, swaps and option contracts, to hedge future crude oil and natural gas production in order to mitigate the risk of market price fluctuations. All derivative instruments are recorded on the balance sheet at fair value. All of the Company's derivative counterparties are commercial banks that were previously parties to its revolving credit facility. The Company has elected not to apply hedge accounting to any of its derivative transactions and consequently, the Company recognizes mark-to-market gains and losses in earnings currently, rather than deferring such amounts in other comprehensive income for those commodity derivatives that qualify as cash flow hedges.  The Company had no oil and gas hedges in place as at June 30, 2013.

Asset Retirement Obligations.   The Company recognizes estimated liabilities for future costs associated with the abandonment of its oil and natural gas properties. A liability for the fair value of an asset retirement obligation and corresponding increase to the carrying value of the related long–lived asset are recorded at the time the well is spud or acquired.

Environmental.   The Company is subject to extensive federal, state and local environmental laws and regulations. These laws and regulations, which regularly change, regulate the discharge of materials into the environment and may require the Company to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Liabilities for expenditures of a non–capital nature are recorded when environmental assessment and/or remediation is probable and the costs can be reasonably estimated. Such liabilities are generally recorded at their undiscounted amounts unless the amount and timing of payments is fixed or reliably determinable. The Company believes that it is in material compliance with existing laws and regulations.

Income Taxes.   Deferred income tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in income tax rates is recognized in income in the period that includes the enactment date. The measurement of deferred income tax assets is reduced, if necessary, by a valuation allowance if management believes that it is more likely than not that some portion or all of the net deferred tax assets will not be fully realized on future income tax returns. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, available taxes in carryback periods, projected future taxable income and tax planning strategies in making this assessment.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.

Earnings Per Share.   Basic earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stock by the weighted average number of shares outstanding for the period. Under the treasury stock method, diluted earnings per share is calculated by dividing net earnings (loss) by the weighted average number of shares outstanding including all potentially dilutive common shares (unexercised stock options). In the event of a net loss, no potential common shares are included in the calculation of shares outstanding since the impact would be anti-dilutive .  The Company's unexercised stock options do not contain rights to dividends. When the Company records a net loss, none of the loss is allocated to the unexercised stock options since the securities are not obligated to share in Company losses. Consequently, in periods of net loss, outstanding options will have no dilutive impact to the Company’s basic earnings per share.

The following table details the weighted average dilutive and anti-dilutive securities, which consist of options and warrants, for the periods presented:

	Year ended June 30,
	2013		2012		2011
Dilutive		-		-		325,033,863
Anti–dilutive		142,694,297		289,942,436		8,379,077

The following tables set forth the calculation of basic and diluted earnings per share for continuing and discounted operations:

Continuing operations	Year ended June 30,
	2013		2012		2011
Net income (loss) from continuing operations	$	(11,721,049)	$	(31,236,451)	$	51,435,835
Basic weighted average common shares outstanding		1,935,438,970		1,752,408,357		1,680,247,878
Add: dilutive effect of stock options		-		-		261,317,567
Add: bonus element for rights issue		-		-		26,488,246
Diluted weighted average common shares outstanding		1,935,438,970		1,752,408,357		1,968,053,691
Basic earnings per common share – cents per share		(0.61)		(1.78)		3.06
Diluted earnings per common share – cents per share		(0.61)		(1.78)		2.61
Discontinued operations	Year ended June 30,
	2013		2012		2011
Net income (loss) from discontinued operations	$	-	$	-	$	2,712,387
Basic weighted average common shares outstanding		-		-		1,680,247,878
Add: dilutive effect of stock options		-		-		261,317,567
Add: bonus element for rights issue		-		-		26,488,246
Diluted weighted average common shares outstanding		-		-		1,968,053,691
Basic earnings per common share – cents per share		-		-		0.16
Diluted earnings per common share – cents per share		-		-		0.14

Stock-Based Compensation.   Stock-based compensation is measured at the estimated grant date fair value of the awards and is recognized on a straight-line basis over the requisite service period (usually the vesting period). The Company recognizes stock-based compensation net of an estimated forfeiture rate, and recognizes compensation expense only for shares that are expected to vest.  Compensation expense is then adjusted based on the actual number of awards for which the requisite service period is rendered.

Foreign Currency Translation.   The functional currency of Samson Oil & Gas Limited (Parent Entity) is Australian dollars, the reason for this being the majority of cash flows of the Parent Entity are denominated in Australia dollars. The functional and presentation currency of Samson Oil & Gas USA, Inc (subsidiary) is U.S dollars. The presentation currency of the Company is U.S. dollars. Each entity within the Company determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency.

Transactions in foreign currencies are initially recorded in the functional currency by applying the exchange rates ruling at the date of the transaction.  Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year ended exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit and loss, except when they are deferred in equity as qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation.

Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss.  Translation differences on non-monetary assets and liabilities are recognized in other comprehensive income .

Impact of Recently Adopted Accounting Standards.

Presentation of Comprehensive Income . On June 16, 2011, the FASB issued changes related to the presentation of comprehensive income. These changes eliminate the current option to report other comprehensive income and its components in the statement of changes in equity. These changes are intended to enhance comparability between entities that report under U.S. GAAP and those that report under IFRS, and to provide a more consistent method of presenting non-owner transactions that affect an entity's equity. An entity may elect to present items of net income and other comprehensive income in one continuous statement, referred to as the statement of comprehensive income, or in two separate, but consecutive, statements. Each component of net income and each component of other comprehensive income, together with totals for comprehensive income and its two parts, net income and other comprehensive income, would need to be displayed under either alternative. The statement(s) would need to be presented with equal prominence as the other primary financial statements. The new requirement is effective for public entities as of the beginning of a fiscal year that begins after December 15, 2011, and interim and annual periods thereafter. Early adoption is permitted, but full retrospective application is required under both sets of accounting standards. The adoption of this standard did have a material impact on our financial statements.

Fair Value Measurement . On May 12, 2011, the FASB issued changes related to fair value measurement. The changes represent the converged guidance of the FASB and the International Accounting Standards Board (“IASB”) on fair value measurement. Many of the changes eliminate unnecessary wording differences between International Financial Reporting Standards (“IFRS”) and U.S. GAAP. The changes expand existing disclosure requirements for fair value measurements categorized in Level 3 by requiring (1) a quantitative disclosure of the unobservable inputs and assumptions used in the measurement, (2) a description of the valuation processes in place and (3) a narrative description of the sensitivity of the fair value to changes in unobservable inputs and the interrelationships between those inputs. In addition, the changes also require the categorization by level in the fair value hierarchy of items that are not measured at fair value in the statement of financial position whose fair value must be disclosed. These changes are to be applied prospectively and are effective for public entities during interim and annual periods beginning after December 15, 2011. With the exception of the disclosure requirements, the adoption of these changes did not have a significant impact on our financial statements.

Recently Issued Accounting Pronouncements

ASU 2013-04,  Liabilities (Topic 405):Obligations Resulting from Joint and Several Liability Arrangements for which the Total Amount of the Obligation is Fixed at the Reporting Date. The objective of the amendments in this Update is to provide consistency in the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. This Update requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the following: (a) the amount the reporting entity agreed to pay on the basis of its agreement among its co-obligors; and (b) any additional amount the reporting entity expects to pay on behalf of its co-obligors.  The guidance in the Update also requires disclosures about the nature as well as other information about the obligations. For public entities, the amendments in this Update are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Retrospective application is required. Early adoption is permitted. We have not yet begun the process of assessing the impact of this standard on our financial statements and do not except to adopt the standard earlier than its effective date.

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Capital Stock Contributed Equity (Narrative) (Details)	0 Months Ended							1 Months Ended						2 Months Ended	12 Months Ended
	Dec. 17, 2010 AUD	Nov. 18, 2010 AUD	Nov. 18, 2009 AUD	May 12, 2008 AUD	Oct. 10, 2007 AUD	Oct. 11, 2007 AUD	Jun. 14, 2006 AUD	Jun. 30, 2013 USD ($)	Apr. 30, 2013 USD ($)	Mar. 31, 2013 USD ($)	Nov. 30, 2011 AUD	Jul. 31, 2011 AUD	Jan. 31, 2010 AUD	Nov. 30, 2009 AUD	Jun. 30, 2013 USD ($)	Jun. 30, 2013 AUD	Jun. 30, 2012 USD ($)	Jun. 30, 2012 AUD	Jun. 30, 2011 AUD	Jun. 30, 2010 AUD	Jun. 30, 2013 8 Cents [Member] AUD	Jun. 30, 2013 1.5 Cents [Member]	Jun. 30, 2012 1.5 Cents [Member]	Jun. 30, 2011 1.5 Cents [Member]
Ordinary shares issued, shares								114,335,711	19,182,812	109,752,575
Ordinary shares issued, price per share									$ 0.00026	$ 0.000259
Ordinary shares issued, amount								$ 2,716,701	$ 500,000	$ 2,850,000
Shares issued upon exercise of options, shares															214,002,238	214,002,238	39,913,038	39,913,038	70,572,446	22,324,842		214,002,238	39,913,038	70,072,446
Weighted average exercise price - cents (AUD), exercised	0.0800	0.08	0.20	0.25	0.30	0.30	0.45				0.155	0.1640	0.015	0.015	$ 0.015	0.015	$ 0.015	0.015	0.015		0.08
Aggregate intrinsic value of options exercised															$ 3,342,660		$ 632,101	4,739,926	3,608,250	5,458,053
Shares issued to employees and directors		29,000,000				4,000,000	8,500,000						12,500,007	344,431,141	0	0

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Income Taxes (Narrative) (Details)	12 Months Ended									12 Months Ended
	Jun. 30, 2013 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2013 AUD	Jun. 30, 2012 AUD	Jun. 30, 2013 Internal Revenue Service (IRS) [Member] USD ($)	Jun. 30, 2012 Internal Revenue Service (IRS) [Member] USD ($)	Jun. 30, 2013 State and Local Jurisdiction [Member] USD ($)	Jun. 30, 2012 State and Local Jurisdiction [Member] USD ($)	Jun. 30, 2012 Minimum [Member] Internal Revenue Service (IRS) [Member]	Jun. 30, 2012 Minimum [Member] State and Local Jurisdiction [Member]	Jun. 30, 2012 Maximum [Member] Internal Revenue Service (IRS) [Member]	Jun. 30, 2012 Maximum [Member] State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Tax losses carried forward	$ 3,089,475	$ 2,866,049		10,298,250	9,553,496
Net operating tax losses						28,164,751	17,674,196	1,154,648	11,257,204
Current year utilization						0	18,246,031
Limitation per year						403,194
Net operating losses, expiration year										2012	June 2013	2033	June 2033
Tax expense (benefit)	$ (2,010,280)	$ (4,629,193)	$ 6,784,333

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Tables)

12 Months Ended

Jun. 30, 2013

Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations [Abstract]

Schedule Of Capitalized Costs Of Oil And Natural Gas Properties

Capitalized Costs of Oil and Natural Gas Properties

	As of June 30,
	2013		2012		2011
Oil and gas properties – subject to amortization	$	26,657,972	$	25,785,108	$	22,872,355
Work in progress		6,344,040		-		-
Lease and well equipment		5,371,923		4,217,803		3,745,698
Total capitalized costs		38,373,935		30,002,911		26,618,053
Accumulated depreciation, depletion and amortization		(12,362,977)		(10,488,529)		(7,767,005)
Impairment		(6,018,940)		(5,624,002)		(4,988,538)
Net capitalized costs	$	19,992,018	$	13,890,380	$	13,862,510

Summary Of Costs Incurred For Oil And Natural Gas Exploration, Development And Acquisition

	Year ended June 30,
	2013		2012		2011
Property acquisition
Proved properties	$	872,864	$	2,912,753	$	6,309,640
Unproved properties		-		-		-
Work in progress		6,344,040		-		-
Lease and well equipment		1,154,120		472,105		1,247,939
Exploration costs		3,911,191		5,172,707		1,190,283
Undeveloped capitalized acreage		2,352,125		7,859,832		2,157,455
Total costs incurred	$	14,634,340	$	16,417,397	$	10,905,317

Schedule Of Proved Developed And Undeveloped Oil And Gas Reserve Quantities

	Year ended June 30, 2013				Year ended June 30, 2012				Year ended June 30, 2011
	Oil	Gas		Total	Oil	Gas		Total	Oil	Gas	Total
	Mbbls	MMcf		MBOE	Mbbls	MMcf		MBOE	Mbbls	MMcf	MBOE
Beginning of year	770	1,352		996	495	1,311		714	451	10,119	2,138
Revisions of previous quantity estimates	227	27		232	4	(168)		(24)	156	431	228
Extensions, discoveries and improved recovery	153	198		186	359	423		430	-	-	-
Sale of reserves in place	-	-	-	-	-	-	-	-	(48)	(8,816)	(1,517)
Acquisitions	364	435	-	437	-	-	-	-	-	-	-
Production	(62)	(167)		(90)	(88)	(214)		(124)	(64)	(423)	(135)
End of year	1,452	1,845		1,761	770	1,352		996	495	1,311	714
Proved developed producing reserves	454	784		586	419	927		575	455	1,274	667
Proved undeveloped reserves	998	1,061		1,175	351	425		422	40	37	47
Total proved reserves	1,452	1,845		1,761	770	1,352		996	495	1,311	714

Schedule Of Estimated Standardized Measure Of Discounted Future Net Cash Flows Relating To Proved Reserves

	Fiscal Year Ended June 30
	2013		2012		2011		2010		2009
Future cash inflows	$	133,589	$	71,655	$	46,250	$	67,996	$	67,630
Future production costs		(44,672)		(29,321)		(16,046)		(23,288)		(20,290)
Future development costs		(29,012)		(10,198)		(917)		(11,910)		(5,416)
Future income taxes		(12,050)		(5,524)		(4,357)		–		(143)
Future net cashflows		47,855		26,612		24,930		32,798		41,781
10 % discount		(26,012)		(13,274)		(10,207)		(17,675)		(24,054)
Standardized measure of discounted future net cash flows relating to proved reserves	$	21,843	$	13,338	$	14,723	$	15,123	$	17,727

Schedule Of Changes In Standardized Measure Of Discounted Future Net Cash Flows

	Fiscal Year Ended June 30
	2013		2012		2011
Beginning of year	$	13,338	$	14,723	$	15,123
Sales of oil and gas produced during the period, net of production costs		(2,338)		(5,596)		(4,838)
Net changes in prices and production costs		8,027		3,216		7,983
Previously estimated development costs incurred during the period		-		917		3,713
Changes in estimates of future development costs		(18,814)		(10,198)		(5,256)
Extensions, discoveries and improved recovery		5,892		11,354		-
Revisions of previous quantity estimates and other		7,419		(643)		5,810
Sale of reserves in place		-		-		(6,522)
Purchase of reserves in place		11,664		-		-
Change in future income taxes		(6,526)		(987)		(2,573)
Accretion of discount		1,334		1,472		1,512
Other		1,847		(920)		(229)
Balance at end of year	$	21,843	$	13,338	$	14,723

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Quarterly Financial Data (Details) (USD $)	3 Months Ended								12 Months Ended
	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Quarterly Financial Data [Abstract]
Revenues	$ 1,579,853	$ 1,178,000	$ 1,842,731	$ 1,668,410	$ 1,768,020	$ 2,387,735	$ 2,018,758	$ 2,625,241	$ 6,268,994	$ 8,799,754	$ 79,538,959
Income (loss) from continuing operations	(1,886,339)	(8,921,000)	(1,331,454)	(1,592,536)	(27,965,316)	(1,394,909)	(5,757,583)	(747,836)	(13,731,329)	(35,865,644)	66,131,379
Income (loss) from discontinued operations											(5,198,824)
Income tax (provision)/benefit	(25,656)		1,366,938	668,998	2,915,259	832,371	693,385	188,178	2,010,280	4,629,193	(14,695,544)
Net loss	$ (1,911,995)	$ (8,921,000)	$ 35,484	$ (923,538)	$ (25,050,057)	$ (562,538)	$ (5,064,198)	$ (559,658)	$ (11,721,049)	$ (31,236,451)	$ 54,148,222
Basic - cents per share	$ (0.11)	$ (0.45)	$ 0.00	$ (0.05)	$ (1.43)	$ (0.03)	$ (0.29)	$ (0.03)	$ (0.61)	$ (1.78)	$ 3.06
Diluted - cents per share	$ (0.11)	$ (0.45)	$ 0.00	$ (0.05)	$ (1.43)	$ (0.03)	$ (0.29)	$ (0.03)	$ (0.61)	$ (1.78)	$ 2.61

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Share-Based Payments (Summary Of Stock Option Activity) (Details)	0 Months Ended							1 Months Ended			2 Months Ended	12 Months Ended
	Dec. 17, 2010 AUD	Nov. 18, 2010 AUD	Nov. 18, 2009 AUD	May 12, 2008 AUD	Oct. 10, 2007 AUD	Oct. 11, 2007 AUD	Jun. 14, 2006 AUD	Nov. 30, 2011 AUD	Jul. 31, 2011 AUD	Jan. 31, 2010 AUD	Nov. 30, 2009 AUD	Jun. 30, 2013 USD ($)	Jun. 30, 2013 AUD		Jun. 30, 2012 USD ($)	Jun. 30, 2012 AUD	Jun. 30, 2011 AUD	Jun. 30, 2010 AUD
Share-Based Payments [Abstract]
Outstanding, start of period									333,412,940			301,499,902	301,499,902		333,412,940	333,412,940	349,485,386
Granted	32,000,000		1,000,000	2,000,000	3,379,077			4,000,000	4,000,000			97,307,526	97,307,526		8,000,000	8,000,000	61,000,000
Exercised												(214,002,238)	(214,002,238)		(39,913,038)	(39,913,038)	(70,572,446)	(22,324,842)
Exercised in period															(39,913,038)	(39,913,038)
Cancelled/expired												(17,997,664)	(17,997,664)		0	0	(6,500,000)
Outstanding, end of period												166,807,526	166,807,526		301,499,902	301,499,902	333,412,940	349,485,386
Exercisable, end of period												165,474,192	165,474,192		288,166,570	288,166,570		312,079,606
Weighted average exercise price - cents (AUD), outstanding, start of period									0.033				0.040			0.033	0.03
Weighted average exercise price - cents (AUD), granted													0.038			0.16	0.080
Weighted average exercise price - cents (AUD), exercised	0.0800	0.08	0.20	0.25	0.30	0.30	0.45	0.155	0.1640	0.015	0.015	$ 0.015	0.015		$ 0.015	0.015	0.015
Weighted average exercise price - cents (AUD), cancelled/expired													0.13				0.45
Weighted average exercise price - cents (AUD), outstanding, end of period													0.06			0.040	0.033	0.03
Weighted average exercise price - cents (AUD), exercisable, end of period													0.06			0.05	0.03
Aggregate intrinsic value of options - cents (AUD)													(0.04)	[1]

[1] The intrinsic value of a stock option is the amount by which the market value is (less than)/exceeds the exercise price at the Balance Date.

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Subsequent Events

12 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

13.  SUBSEQUENT EVENTS

Capital Raising

In August 2013, we issued 318,452,166 ordinary shares to US and Australian institutional investors at 2.5 cents (Australian) each and 127,380,866 new warrants.  The placement was a portion of the shortfall in the Rights Offering completed by Samson Oil and Gas Limited in May 2013.  The warrants have an exercise price of 3.8 cents (Australian) and an expiry date of March 31, 2017. The placement raised approximately $6.7 million in cash, after expenses.

Divestment

In August 2013, as part of our broader financing plan, to ensure our participation in the full development of the North Stockyard project, we divested half our equity position in the undeveloped acreage in the North Stockyard project to Slawson Exploration Company Inc. for up to $5.562 million in cash and other consideration.  We retained our full interest in the currently producing wells in the North Stockyard field. As a consequence of the transaction we have also terminated our rig contract with Frontier, with no penalty payment. Slawson are now the operator of the project going forward for the development of the undeveloped acreage. 

Along with the undeveloped acreage, we have also transferred 25% working interest in the drilled but not yet completed Billabong and Sail and Anchor wells. The cash portion of the purchase price is subject to the delivery of a useable well bore in Billabong, valued in the agreement at $0.9 million and other customary post closing adjustments.  The Billabong well bore is currently scheduled to undergo a workover operation during October 2013, following the completion of the frac of Sail and Anchor, current scheduled for September 2013.

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Share-Based Payments

12 Months Ended

Jun. 30, 2013

Share-Based Payments [Abstract]

Share-Based Payments

9. SHARE-BASED PAYMENTS (all figures are in Australian dollars in this note)

To convert June 30, 2013 balances denominated in Australian dollars to U.S. dollars, we used the June 30, 2013, 2012 and 2011 Federal Reserve Bank of Australia (www.rba.gov.au) closing exchange rates of 0.925,  1.0191 and 1.0739 U.S. dollars per Australian dollar, respectively. All dollars in this footnote are Australian dollars, except where stated otherwise.

During the year ended June 30, 2011, the Company registered a Form S-8 with the Securities Exchange Commission.  The Form S-8 is a registration statement used by U.S. public companies to register securities to be offered pursuant to employee benefit plans; in this case the ordinary shares issuable and reserved for issuance underlying the options which may be issued pursuant to the Samson Oil & Gas Limited Stock Option Plan were registered.

All incentive options issued by the Company are valued using a black-scholes pricing model which requires inputs for the share price at grant date, exercise price, time to expiry, risk free interest rate,  share price volatility and dividend yield. The risk free interest rate is based on the interest rate applicable to Australian Government Bonds with a similar remaining life to the options on the day of grant.   The dividend yield is the expected annual dividend yield over the expected life of the option.  The volatility factors are based on historic volatility of the Company’s stock.  Estimates of fair value are not intended to predict actual future events or the value ultimately realized by certain employees who receive stock options, and subsequent events are indicative of the reasonableness of the original fair value estimates.

No options were issued during the year ended June 30, 2013 as share based payments.

Options issued during the year ended June 30, 2012

In July 2011, 4,000,000 stock options were granted under the Samson Oil & Gas Limited Stock Option Plan to an employee of the Company.  These options have an exercise price of 16.4 cents (Australian) and an expiry date of December 31, 2014.  One third of these stock options vested on July 31, 2011.  Another third vested on July 31, 2012, the remaining third vested on July 31, 2013, as provided the employee was still employed by the Company on those dates.

The fair value of each option granted was estimated using the Black-Scholes option pricing model. The following assumptions were used to compute the weighted average fair market value of options granted:

Share price at grant date (Australian cents)		14.0
Exercise price (Australian cents)		16.40
Time to expiry (years)		3.5
Risk free rate (%)		5.25
Share price volatility (%)		129.33
Dividend yield	Nil

In November 2011, 4,000,000 options were granted under the Samson Oil and Gas Limited Stock Option to a non-executive Director of the Company.  These options have an exercise price of 15.5 cents (Australian) and expiry date of October 31, 2015.  These options vested immediately.  The fair value of each option granted was estimated using the Black-Scholes option pricing model.  The following assumptions were used to compute the weighted average fair market value of options granted:

Share price at grant date (Australian cents)		10.0
Exercise price (Australian cents)		15.5
Time to expiry (years)		4
Risk free rate (%)		6.00
Share price volatility (%)		124.61
Dividend yield	Nil

Options issued during the year ended June 30, 2011

On November 18, 2010, 29,000,000 options were issued to four directors.  These options have an expiry date of October 31, 2014 and an exercise price of 8 cents per share. These options have been valued at 5.01 cents per option, using a black-scholes pricing model, which takes into account the following variables:

Share price at grant date (cents)		6.40
Exercise price (cents)		8.00
Time to expiry (years)		4
Risk free rate (%)		5.24
Share price volatility (%)		131
Dividend yield	Nil

The value of these options has been expensed in the current period as these options vested immediately.

On December 17, 2010, 32,000,000 options were granted to employees of the Company.  These options have an expiry date of December 31, 2014.  These options have been valued at 4.7 cents per option, using a black-scholes pricing model which takes into account the following variables:

Share price at grant date (cents)	5.90
Exercise price (cents)	8.00
Time to expiry (years)	4
Risk free rate (%)	5.31
Share price volatility (%)	131

One third of these options vested on January 31, 2011, another third vested on January 31, 2012 and the remaining third vested on January 31, 2013.  The expense associated with these options will be recognized in line with the vesting schedule.

In January 2010, 12,500,007 options were issued in conjunction with the rights offering completed by Samson in Oct 2009.  These options have an exercise price of 1.5 cents and expire on December 31, 2012.

In October and November 2009, 344,431,141 options were issued in conjunction with a rights offering completed by the Company at the same time.  These options have an exercise price of 1.5 cents and expire on December 31, 2012.  

22,324,842 of these 1.5c options were exercised up to June 30, 2010. 70,072,446 have been exercised during the year ended June 30, 2011. 39,913,038 were exercised during the year ended June 30, 2012.  214,002,238 were exercised during the year ended June 30, 2013.  The remaining options with an exercise price of 1.5 cents expired unexercised on December 31, 2012.

On November 18, 2009, 1,000,000 options were granted to two non-executive directors.  These options have an exercise price of 20 cents and expiry date of November 30, 2013.  These options vested immediately.

On May 12, 2008, 2,000,000 options were granted to key management personnel.  These options have an exercise price of 25 cents per share and an expiry date of May 11, 2013.  600,000 options vested immediately, 600,000 vest following twelve months of service by the employee, with the remaining 800,000 vested on April 1, 2010, following twenty four months of service.

On October 11, 2007, 4,000,000 options were issued to key management personnel.  These options have an exercise price of 30 cents per share and an expiry date of October 10, 2012.  These options vested immediately. These options expired unexercised during the year ended June 30, 2013.

On October 10, 2007, 3,379,077 options were granted to participants of a capital raising, completed at the same time.  These options have an exercise price of 30 cents per share, an expiry date of October 10, 2012 and vested immediately. These options expired unexercised during the year ended June 30, 2013.

 On June 14, 2006, 8,500,000 options were issued to employees, directors and other parties not related to the Company.  These options vested immediately, had an exercise price of 45 cents and expired on May 31, 2011.  During the year June 30, 2009, 2,000,000 of these options expired following the resignation of the employee to which they were granted.  The remaining options expired unexercised on May 31, 2011.

At the end of the year there were  166,807,526 (2012: 301,499,902) unissued ordinary shares in respect of which options were outstanding. Option holders do not have any right by virtue of the option to participate in any share issue of the Company.

The Company recognized total share–based compensation which was recognized within general and administrative expense as follows:

	Year ended June 30
	U.S. Dollar
	2013		2012		2011
Share–based compensation expensed	$	199,436	$	1,167,801	$	2,473,477

As of June 30, 2013, there was US$5,629 of total unrecognized compensation cost related to stock options which is expected to be amortized over a weighted–average period of one year.

See Note 1 for information on the Company’s bonus plan.

The following summarizes the Company’s stock option activity for the years ended June 30, 2013, 2012 and 2011 (all values in AUD unless otherwise noted):

	2013			2012		2011
	Number	Weighted	Aggregate	Number	Weighted	Number	Weighted
		Average	Intrinsic		Average		Average
		Exercise	Value of		Exercise		Exercise
		Price – cents	Options		Price – cents		Price – cents
		(AUD)	cents		(AUD)		(AUD)
			(AUD)
			(1)
Outstanding, start of period	301,499,902	0.04		333,412,940	0.033	349,485,386	0.03
Granted	97,307,526	0.038		8,000,000	0.16	61,000,000	0.08
Exercised	(214,002,238)	0.015		(39,913,038)	0.015	(70,572,446)	0.015
Cancelled/expired	(17,997,664)	0.13		0	-	(6,500,000)	0.45
Outstanding, end of period	166,807,526	0.06	(0.04)	301,499,902	0.04	333,412,940	0.033
Exercisable, end of period	165,474,192	0.06		288,166,570	0.05	312,079,606	0.03

(1) The intrinsic value of a stock option is the amount by which the market value is (less than)/exceeds the exercise price at the Balance Date.

The aggregate intrinsic value of options exercised in 2013, 2012 and 2011 was AUD4,739,926, AUD3,608,250 and AUD5,458,053, respectively.

Additional information related to options outstanding at June 30, 2013 is as follows (outstanding):

	Options Outstanding					Options Exercisable
Range of	Number	Weighted		Weighted		Number	Weighted		Weighted
Exercise	Outstanding	Average		Average		Exercisable	Average		Average
Prices		Remaining		Exercise			Remaining		Exercise
		Contractual		Prices			Contractual		Prices
		Life - years					Life
3.8 cents	97,307,526		3.00		0.038	97,307,526		3.00		0.038
8 cents	60,500,000		1.50		0.08	60,500,000		1.50		0.08
15.5 cents	4,000,000		2.30		0.155	4,000,000		2.30		0.155
16.4 cents	4,000,000		1.50		0.164	2,666,666		1.50		0.164
20 cents	1,000,000		0.42		0.2	1,000,000		0.42		0.2
	166,807,526					165,474,192

The following summarizes the Company’s unvested stock option award activity for the year ended June 30, 2013.

Non-vested stock options	Shares		Weighted– Average Grant–Date Fair Value
Non-vested at June 30, 2012		13,333,332
Granted		-		-
Vested		12,000,000		0.06
Forfeited		–
Non-vested at June 30, 2013		1,333,332		0.11

XML

Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations (Schedule Of Capitalized Costs Of Oil And Natural Gas Properties) (Details) (USD $)	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2011
Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations [Abstract]
Oil and gas properties - subject to amortization	$ 26,657,972	$ 25,785,108	$ 22,872,355
Work in progress	6,344,040
Lease and well equipment	5,371,923	4,217,803	3,745,698
Total capitalized costs	38,373,935	30,002,911	26,618,053
Accumulated depreciation, depletion and amortization	(12,362,977)	(10,488,529)	(7,767,005)
Impairment	(6,018,940)	(5,624,002)	(4,988,538)
Net capitalized costs	$ 19,992,018	$ 13,890,380	$ 13,862,510

XML

Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Jun. 30, 2013

Summary Of Significant Accounting Policies [Abstract]

Description Of Operations

Description of Operations.   Samson Oil & Gas Limited and its consolidated subsidiaries (“Samson” or the “Company”), is engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties with a focus on properties in North Dakota, Montana and Wyoming.

Principles Of Consolidation

Principles of Consolidation.   The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All intercompany balances and transactions have been eliminated in consolidation.

Use Of Estimates

Use of Estimates.   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Items subject to such estimates and assumptions include (1) oil and gas reserves; (2) cash flow estimates used in impairment tests of long–lived assets; (3) depreciation, depletion and amortization; (4) asset retirement obligations; (5) assigning fair value and allocating purchase price in connection with business combinations; (6) accrued revenue and related receivables; (7) valuation of commodity and interest derivative instruments; (8) accrued liabilities; (9) valuation of share-based payments and (10) income taxes. Although management believes these estimates are reasonable, actual results could differ from these estimates. The Company has evaluated subsequent events and transactions for matters that may require recognition or disclosure in these financial statements.

Business Segment Information

Business Segment Information.   The Company has evaluated how it is organized and managed and has identified only one operating segment, which is the exploration and production of crude oil, natural gas and natural gas liquids. All of the Company's operations and assets are located in the United States, and all of its revenues are attributable to United States customers.

Revenue Recognition And Gas Imbalances

Revenue Recognition and Gas Imbalances.   Revenues from the sale of natural gas and crude oil are recognized when the product is delivered at a fixed or determinable price, title has transferred and collectability is reasonably assured and evidenced by a contract. This generally occurs when a barge completes delivery, oil or natural gas has been delivered to a refinery or a pipeline, or has otherwise been transferred to a customer's facilities or possession. Oil revenues are generally recognized based on actual volumes of completed deliveries where title has transferred. Title to oil sold is typically transferred at the wellhead.

The Company uses the entitlement method of accounting for natural gas revenues. Under this method, revenues are recognized based on actual production of natural gas. The Company incurs production gas volume imbalances in the ordinary course of business. Net deliveries in excess of entitled amounts are recorded as liabilities, while net under–deliveries are reflected as assets. Imbalances are reduced either by subsequent recoupment of over– and under– deliveries or by cash settlement, as required by applicable contracts. The Company's production imbalances were not material at June 30, 2013 or 2012.

Other income in the prior year primarily includes amounts from derivative contracts and interest from cash held. Other income in the current year, also includes a non-refundable deposit received by us in relation to the sale of our acreage position in our Roosevelt project in Roosevelt County, Montana. This sale did not close and the purchase and sale agreement associated it was terminated.

Cash And Cash Equivalents

Cash and Cash Equivalents.   The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash management process provides for the daily funding of checks as they are presented to the bank. Bank overdrafts are included within borrowings in current liabilities on the balance sheet.

Accounts Receivable

Accounts Receivable.   The components of accounts receivable include the following:

	June 30
	2013		2012
Oil and natural gas sales related	$	818,820	$	860,749
Cost recovery from JV partners		2,214,940		379,130
Other		56,906		48,280
Total accounts receivable, net of nil allowance for doubtful accounts for June 30, 2013 and 2012	$	3,090,666	$	1,288,159

The Company's accounts receivable result from (i) oil and natural gas sales to oil and intrastate gas pipeline companies and (ii) billings to joint working interest partners in properties operated by the Company. The Company's trade and accrued production receivables are dispersed among various customers and purchasers and most of the Company's significant purchasers are large companies with solid credit ratings.

The cost recovery from JV partners relates to JV partners share of drilling costs associated with the current drilling program in our North Stockyard infill project.

Inventories

Inventories. Inventories are comprised of tubular goods and well equipment held by a third party. All inventory balances are carried at lower of average cost or market.

Accruals

Accruals.   The components of accrued liabilities for the years ended June 30, 2013 and 2012 are as follows:

	2013		2012
Bonus Accrual		-		133,168
Other accruals		5,406,982		1,096,814
	$	5,406,982	$	1,229,982

The majority of other accruals in the current year relate to expensed incurred in relation to our infill drilling program in our North Stockyard field in North Dakota.

The bonus accrual for June 30, 2012 was $133,168and has been determined from meeting a number of targets as set forth by the Board of Directors and Compensation Committee. The bonus was paid in September 2012.

A bonus plan is in place for the calendar year ended December 31, 2013, which is at the discretion of the Compensation Committee and is capped at 20% of each employees total bonus pool.No bonus payment has been accrued for year ended June 30, 2013.

Oil And Natural Gas Properties

Oil and Natural Gas Properties.

Oil and gas properties and equipment consist of the following at June 30:

	2013		2012
Proved properties	$	26,657,972	$	25,785,108
Lease and well equipment		5,371,923		4,217,803
Work in progress		6,344,040		-
Less accumulated depreciation, depletion and impairment		(18,381,917)		(16,112,531)
	$	19,992,018	$	13,890,380
Undeveloped acreage	$	12,369,412	$	10,017,287

The Company accounts for its oil and gas exploration and development costs using the successful efforts method. Geological and geophysical costs are expensed as incurred. Exploratory well costs are capitalized pending further evaluation of whether economically recoverable reserves have been found. If economically recoverable reserves are not found, exploratory well costs are expensed as dry holes. All exploratory wells are evaluated for economic viability within one year of well completion, and the related capitalized costs are reviewed quarterly.

Exploratory wells that discover potentially economic reserves in areas where a major capital expenditure would be required before production could begin and where the economic viability of that major capital expenditure depends upon the successful completion of further exploratory work in the area remain capitalized if the well finds a sufficient quantity of reserves to justify its completion as a producing well and the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project.

The costs of development wells are capitalized whether productive or nonproductive. The provision for depletion of oil and gas properties is calculated on a field–by–field basis using the unit–of–production method. If the estimates of total proved or proved developed reserves decline, the rate at which the Company records depreciation, depletion and amortization (DD&A) expense increases, which in turn reduces net earnings. Such a decline in reserves may result from lower commodity prices, which may make it uneconomic to drill for and produce higher cost fields. The Company is unable to predict changes in reserve quantity estimates as such quantities are dependent on the success of its development program, as well as future economic conditions. Changes in reserves are applied on a prospective basis.

Acquisition costs of proved undeveloped and unproved properties qualify for interest capitalization during a period if interest cost is incurred and activities necessary to bring the properties into a productive state are in progress. As wells are drilled in a field with proved undeveloped reserves or unproved reserves, a portion of the acquisition costs are either re–designated as proved developed or expensed, as appropriate. In fields with multiple potential drilling sites, the Company determines  the amount of the acquisition cost to re–designate or expense through a systematic and rational basis that considers the total expected wells to be drilled in that field.

The Company reviews its proved oil and natural gas properties for impairment whenever events and circumstances indicate that a decline in the recoverability of their carrying value may have occurred. The Company estimates the expected future cash flows of its oil and natural gas properties and compares these undiscounted future cash flows to the carrying amount of the oil and natural gas properties to determine if the carrying amount is recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company will adjust the carrying amount of the oil and natural gas properties to fair value. The factors used to determine fair value include, but are not limited to, recent sales prices of comparable properties, the present value of future cash flows, net of estimated operating and development costs using estimates of reserves, future commodity pricing, future production estimates, anticipated capital expenditures and various discount rates commensurate with the risk associated with realizing the projected cash flows. Unproved oil and natural gas properties are assessed periodically for impairment on a property–by–property basis based on remaining lease terms, drilling results, reservoir performance, commodity price outlooks or future plans to develop acreage and allocate capital. When the Company has allocated fair values to significant unproved property (probable reserves) as the result of a business combination or other purchase of proved and unproved properties, it uses a future cash flow analysis to assess the property for impairment. Probable reserves are defined as those additional reserves that are less certain to be recovered than proved reserves but which, together with proved reserves, are as likely as not to be recovered.

Gains on sales of proved and unproved properties are only recognized when there is no uncertainty about the recovery of costs applicable to any interest retained or where there is no substantial obligation for future performance by the Company. Impairment on properties sold is recognized when incurred or when the properties are held for sale and the fair value of the properties is less than the carrying value.

We have capitalized leasehold acreage in relation to our Hawk Springs project in Goshen County, Wyoming and Roosevelt Project in Roosevelt County, Montana.  We will continue to carry the cost of this acreage in our Balance Sheet until such time as we do not believe it is recoverable through sale or development.

Refer to Item 1 & 2 Business Properties for further details in regards to our oil and gas properties and exploration projects.

Work in progress

Work in progress relates to costs associated with the drilling of wells in Samson’s in fill development project in its North Stockyard field. These wells were not completed as at 30 June 2013 and work is continuing on them.  

In August 2013 the Company divested half its equity position in the undeveloped acreage in the North Stockyard project to Slawson Exploration Company Inc. for $5.562 million in cash and other consideration.  The Company retained our full interest in in the currently producing wells in the North Stockyard field. As a consequence of the transaction the rig contract with Frontier was also terminated, with no penalty payment. Slawson are now the operator of the project going forward for the development of the undeveloped acreage. 

Along with the undeveloped acreage, we have also transferred 25% working interest in the drilled but not yet completed Billabong and Sail and Anchor wells. The cash portion of the purchase price is subject to the delivery of a useable well bore in Billabong, valued in the agreement at $0.9 million and other customary post closing adjustments.

Capitalized Interest

Capitalized interest

Interest capitalization begins at the acquisition date and continues as long as development activities to prepare the asset for intended use are ongoing. No interest has been capitalized during the year ended June 30, 2013 and June 31, 2012 as we did not have any outstanding debt, therefore incurred no interest.

During fiscal year 2011 the Company capitalized interest on two wells being drilled in its North Stockyard field as significant delays were incurred in commencing production from these wells following delays in sourcing fracture stimulation crews and equipment by the operator of the field. Interest capitalization on acquisition costs will depend on whether or not development activities are continuing and whether or not the Company incurs external debt expense. Interest was capitalized from July 2010 through March 2011, when the related wells commenced production. The Company repaid its loan balance in full in May 2011 (See Note 3). Interest capitalization ceases when the well commences production.  Capitalized interest is added to the depreciable base of the assets and is expensed on a units-of-production basis over the life of the respective project.

In the financial year ended June 30, 2011, interest costs of $74,466 were capitalized to two wells drilled in the North Stockyard field.

Exploration Written Off, Including Dry Hole Expenses

Exploration written off, including dry hole expenses

During the fiscal year ended June 30, 2013 we continued work on our Spirit of America 2 well in our Hawk Springs project in Goshen County, Wyoming.  Three of the four potential completion zones were water saturated and therefore non-productive for hydro carbons.  A workover is needed prior to being able to complete the remaining fourth zone.  This work is planned to be completed during the coming year, however it is unlikely that the costs of the well will be recovered and $7.4 million in previously capitalized exploration costs in relation to this well were written off during quarter ended March 31, 2013.

During the fiscal year ended June 30, 2012 we drilled Spirit of America 1 in our Hawk Springs project in Goshen County, Wyoming.  Numerous operational difficulties were encountered when drilling this well and it ultimately failed to reach its target.  The Company wrote off $4.9 million in relation to this well and recorded it as exploration and evaluation expenditure on the Statement of Operations.

No dry hole costs were incurred during the year ended June 30, 2011.

During the fiscal year ended June 30, 2012 we also wrote off  $24.7 million in exploration expense as a result of poor drilling results in relation to our the two exploratory wells – Australia II and Gretel II drilled in our Roosevelt Project in Roosevelt County, Montana.  Although these wells maybe productive in the future, we do not believe we will recover the costs incurred to drill them and have therefore written them off.

Impairment

Impairment

We recorded impairment charges of $0.3 million, $0.6 and $nil million for the years ended June 30, 2013, 2012 and 2011 respectively.  The charges in the current year relate to the continued poor performance of our Roosevelt Project wells – Riva Ridge, Abercrombie, Australia II and Gretel II. 

The charges in the prior year were related in part to a decrease in value of our Davis Bintliff well in Brazoria County, Texas. This well is a gas well and has declined value in line with the decline in the natural gas price.  It continues to perform in line with our forecast decline curve. Other prior year impairment was  recorded in relation to the asset value of our asset retirement obligation in relation to exploratory wells drilled during June 30, 2012 – Defender, Spirit of America I, Australia II and Gretel II.

The charges in 2010 were primarily as a result of decreases in commodity prices, in particular natural gas seen in recent years.

Other Property And Equipment

Other Property and Equipment.

Other property and equipment, which includes leasehold improvements, office and other equipment, are stated at cost. Depreciation and amortization are calculated using the straight–line method over the estimated useful lives of the related assets, ranging from 3 to 25 years. Depreciation and amortization expense for the years ended June 30, 2013, 2012 and 2011 was$101,484, $90,015 and $50,532, respectively.

Other property and equipment consists of the following at June 30:

	2013		2012
Furniture, fittings and equipment	$	718,694	$	700,315
Less accumulated depreciation		(351,037)		(252,254)
	$	367,657	$	448,061

Derivative Financial Instruments

Derivative Financial Instruments.   The Company enters into derivative contracts, primarily collars, swaps and option contracts, to hedge future crude oil and natural gas production in order to mitigate the risk of market price fluctuations. All derivative instruments are recorded on the balance sheet at fair value. All of the Company's derivative counterparties are commercial banks that were previously parties to its revolving credit facility. The Company has elected not to apply hedge accounting to any of its derivative transactions and consequently, the Company recognizes mark-to-market gains and losses in earnings currently, rather than deferring such amounts in other comprehensive income for those commodity derivatives that qualify as cash flow hedges.  The Company had no oil and gas hedges in place as at June 30, 2013.

Asset Retirement Obligations

Asset Retirement Obligations.   The Company recognizes estimated liabilities for future costs associated with the abandonment of its oil and natural gas properties. A liability for the fair value of an asset retirement obligation and corresponding increase to the carrying value of the related long–lived asset are recorded at the time the well is spud or acquired.

Environmental

Environmental.   The Company is subject to extensive federal, state and local environmental laws and regulations. These laws and regulations, which regularly change, regulate the discharge of materials into the environment and may require the Company to remove or mitigate the environmental effects of the disposal or release of petroleum or chemical substances at various sites. Environmental expenditures are expensed or capitalized depending on their future economic benefit. Expenditures that relate to an existing condition caused by past operations and that have no future economic benefits are expensed. Liabilities for expenditures of a non–capital nature are recorded when environmental assessment and/or remediation is probable and the costs can be reasonably estimated. Such liabilities are generally recorded at their undiscounted amounts unless the amount and timing of payments is fixed or reliably determinable. The Company believes that it is in material compliance with existing laws and regulations.

Income Taxes

Income Taxes.   Deferred income tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in income tax rates is recognized in income in the period that includes the enactment date. The measurement of deferred income tax assets is reduced, if necessary, by a valuation allowance if management believes that it is more likely than not that some portion or all of the net deferred tax assets will not be fully realized on future income tax returns. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, available taxes in carryback periods, projected future taxable income and tax planning strategies in making this assessment.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.

Earnings Per Share

Earnings Per Share.   Basic earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stock by the weighted average number of shares outstanding for the period. Under the treasury stock method, diluted earnings per share is calculated by dividing net earnings (loss) by the weighted average number of shares outstanding including all potentially dilutive common shares (unexercised stock options). In the event of a net loss, no potential common shares are included in the calculation of shares outstanding since the impact would be anti-dilutive .  The Company's unexercised stock options do not contain rights to dividends. When the Company records a net loss, none of the loss is allocated to the unexercised stock options since the securities are not obligated to share in Company losses. Consequently, in periods of net loss, outstanding options will have no dilutive impact to the Company’s basic earnings per share.

The following table details the weighted average dilutive and anti-dilutive securities, which consist of options and warrants, for the periods presented:

	Year ended June 30,
	2013		2012		2011
Dilutive		-		-		325,033,863
Anti–dilutive		142,694,297		289,942,436		8,379,077

The following tables set forth the calculation of basic and diluted earnings per share for continuing and discounted operations:

Continuing operations	Year ended June 30,
	2013		2012		2011
Net income (loss) from continuing operations	$	(11,721,049)	$	(31,236,451)	$	51,435,835
Basic weighted average common shares outstanding		1,935,438,970		1,752,408,357		1,680,247,878
Add: dilutive effect of stock options		-		-		261,317,567
Add: bonus element for rights issue		-		-		26,488,246
Diluted weighted average common shares outstanding		1,935,438,970		1,752,408,357		1,968,053,691
Basic earnings per common share – cents per share		(0.61)		(1.78)		3.06
Diluted earnings per common share – cents per share		(0.61)		(1.78)		2.61
Discontinued operations	Year ended June 30,
	2013		2012		2011
Net income (loss) from discontinued operations	$	-	$	-	$	2,712,387
Basic weighted average common shares outstanding		-		-		1,680,247,878
Add: dilutive effect of stock options		-		-		261,317,567
Add: bonus element for rights issue		-		-		26,488,246
Diluted weighted average common shares outstanding		-		-		1,968,053,691
Basic earnings per common share – cents per share		-		-		0.16
Diluted earnings per common share – cents per share		-		-		0.14

Stock-Based Compensation

Stock-Based Compensation.   Stock-based compensation is measured at the estimated grant date fair value of the awards and is recognized on a straight-line basis over the requisite service period (usually the vesting period). The Company recognizes stock-based compensation net of an estimated forfeiture rate, and recognizes compensation expense only for shares that are expected to vest.  Compensation expense is then adjusted based on the actual number of awards for which the requisite service period is rendered.

Foreign Currency Translation

Foreign Currency Translation.   The functional currency of Samson Oil & Gas Limited (Parent Entity) is Australian dollars, the reason for this being the majority of cash flows of the Parent Entity are denominated in Australia dollars. The functional and presentation currency of Samson Oil & Gas USA, Inc (subsidiary) is U.S dollars. The presentation currency of the Company is U.S. dollars. Each entity within the Company determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency.

Transactions in foreign currencies are initially recorded in the functional currency by applying the exchange rates ruling at the date of the transaction.  Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year ended exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in profit and loss, except when they are deferred in equity as qualifying cash flow hedges and qualifying net investment hedges or are attributable to part of the net investment in a foreign operation.

Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss.  Translation differences on non-monetary assets and liabilities are recognized in other comprehensive income .

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Quarterly Financial Data

12 Months Ended

Jun. 30, 2013

Quarterly Financial Data [Abstract]

Quarterly Financial Data

14. QUARTERLY FINANCIAL DATA (UNAUDITED)

The following is a summary of the unaudited financial data for each quarter for the years ended June 30, 2013  and 2012 (except per share data):

	Three Months Ended
	June 30, 2013		March 31, 2013		Dec 31, 2012		Sep 30, 2012
Year ended June 30, 2013:
Revenues	$	1,579,853	$	1,178,000	$	1,842,731	$	1,668,410
Loss from operations		(1,886,339)		(8,921,000)		(1,331,454)		(1,592,536)
Tax (expense)/benefit		(25,656)		-		1,366,938		668,998
Net income (loss)		(1,911,995)		(8,921,000)		35,484		(923,538)
Basic earnings per common share – cents per share		(0.11)		(0.45)		0.00		(0.05)
Diluted earnings per common share – cents per share		(0.11)		(0.45)		0.00		(0.05)

		Three Months Ended
	June 30, 2012		March 31, 2012		Dec 31, 2011		Sep 30, 2011
Year ended June 30, 2012:
Revenues	$	1,768,020	$	2,387,735	$	2,018,758	$	2,625,241
Loss from operations		(27,965,316)		(1,394,909)		(5,757,583)		(747,836)
Tax (expense)/benefit		2,915,259		832,371		693,385		188,178
Net income (loss)		(25,050,057)		(562,538)		(5,064,198)		(559,658)
Basic loss per common share – cents per share		(1.43)		(0.03)		(0.29)		(0.03)
Diluted earnings per common share – cents per share		(1.43)		(0.03)		(0.29)		(0.03)

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Document And Entity Information (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Jun. 30, 2013	Sep. 09, 2013	Dec. 31, 2012
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Trading Symbol	SSN
Entity Registrant Name	Samson Oil & Gas LTD
Entity Central Index Key	0001404079
Current Fiscal Year End Date	--06-30
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		2,547,617,329
Entity Public Float			$ 60.8

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Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations

12 Months Ended

Jun. 30, 2013

Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations [Abstract]

Supplemental Information On Oil And Natural Gas Exploration, Development And Production Activities, Inclusive Of Discontinued Operations

15. SUPPLEMENTAL INFORMATION ON OIL AND NATURAL GAS EXPLORATION, DEVELOPMENT AND PRODUCTION ACTIVITIES, INCLUSIVE OF DISCONTINUED OPERATIONS (UNAUDITED)

The Company adopted the requirements of ASC 932 for the year ended June 30, 2010.  The impact of the adoption of this standard was not practical to estimate.

Oil and Gas Reserves

The information set forth below regarding the Company’s oil and gas reserves, for the year ended June 30, 2012, 2011 and 2010 was prepared by Ryder Scott Company L.P., an independent reserve engineering firm.  The CEO reviews all reserve reports. All reserves are located within the continental United States.

Estimated Proved Reserves

Proved reserves are those quantities of hydrocarbons which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating methods and government regulations.  As commodity prices decline, the commercially viability of wells change and reserve quantities may decrease.  Proved reserves can be categorized as developed or undeveloped.

Capitalized Costs of Oil and Natural Gas Properties

	As of June 30,
	2013		2012		2011
Oil and gas properties – subject to amortization	$	26,657,972	$	25,785,108	$	22,872,355
Work in progress		6,344,040		-		-
Lease and well equipment		5,371,923		4,217,803		3,745,698
Total capitalized costs		38,373,935		30,002,911		26,618,053
Accumulated depreciation, depletion and amortization		(12,362,977)		(10,488,529)		(7,767,005)
Impairment		(6,018,940)		(5,624,002)		(4,988,538)
Net capitalized costs	$	19,992,018	$	13,890,380	$	13,862,510

Capitalized Costs Incurred

Costs incurred for oil and natural gas exploration, development and acquisition are summarized below.

	Year ended June 30,
	2013		2012		2011
Property acquisition
Proved properties	$	872,864	$	2,912,753	$	6,309,640
Unproved properties		-		-		-
Work in progress		6,344,040		-		-
Lease and well equipment		1,154,120		472,105		1,247,939
Exploration costs		3,911,191		5,172,707		1,190,283
Undeveloped capitalized acreage		2,352,125		7,859,832		2,157,455
Total costs incurred	$	14,634,340	$	16,417,397	$	10,905,317

Estimated Proved Reserves

Proved reserves are those quantities of hydrocarbons which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating methods and government regulations.  As commodity prices decline, the commercially viability of wells change and reserve quantities may decrease.  Proved reserves can be categorized as developed or undeveloped.

	Year ended June 30, 2013				Year ended June 30, 2012				Year ended June 30, 2011
	Oil	Gas		Total	Oil	Gas		Total	Oil	Gas	Total
	Mbbls	MMcf		MBOE	Mbbls	MMcf		MBOE	Mbbls	MMcf	MBOE
Beginning of year	770	1,352		996	495	1,311		714	451	10,119	2,138
Revisions of previous quantity estimates	227	27		232	4	(168)		(24)	156	431	228
Extensions, discoveries and improved recovery	153	198		186	359	423		430	-	-	-
Sale of reserves in place	-	-	-	-	-	-	-	-	(48)	(8,816)	(1,517)
Acquisitions	364	435	-	437	-	-	-	-	-	-	-
Production	(62)	(167)		(90)	(88)	(214)		(124)	(64)	(423)	(135)
End of year	1,452	1,845		1,761	770	1,352		996	495	1,311	714
Proved developed producing reserves	454	784		586	419	927		575	455	1,274	667
Proved undeveloped reserves	998	1,061		1,175	351	425		422	40	37	47
Total proved reserves	1,452	1,845		1,761	770	1,352		996	495	1,311	714

Developed Reserves

Developed reserves are those reserves expected to be recovered from existing wells, with existing equipment and operating methods.  Additional oil and gas expected to be obtained through the application of fluid injection or other improved recovery techniques for supplementing the natural forces and mechanisms of primary recovery should be included as proved developed reserves only after testing by a pilot project or after the operation of an installed program has confirmed through production response that increased recovery will be achieved.

Undeveloped Reserves

Undeveloped reserves are those reserves expected to be recovered from new wells on undeveloped acreage or from existing wells where a relatively large expenditure is required to recomplete an existing well or install production or transportation facilities for primary or improved recovery projects.  Estimated development costs on our undeveloped fields are approximately $29 million as of June 30, 2013.  The feasibility of development is also heavily dependent upon future commodity prices.  As such the timing of drilling and development activities depends upon a number of factors that are outside of our control. While as of June 30, 2013, we continued to expect that these fields will be developed within a reasonable period of time and that the capitalized costs will be recoverable from future operations, there is no assurance that there will not be future impairment of these costs.

Standardized Measure of Discounted Future Net Cash Flows

Future hydrocarbon sales and production and development costs have been estimated using a 12 month average price for the commodity prices for June 30, 2013, 2012, 2011, and 2010 and year end prices for June 30, 2009 and costs in effect at the end of the periods indicated. The change in the pricing used in the determination of reserve values has been changed following the implementation of the revised SEC rule in relation to oil and gas reporting. The average 12 month historical average of the first of the month prices used for natural gas for June 30, 2013, 2012, 2011 and 2010,  and the year end prices for June 30, 2009 were $5.89, $5.16, $4.61, $3.75 and  $2.975 per Mcf, respectively.  The 12 month historical average of the first of the month prices used for oil for June 30, 2013,  2012, 2011, 2010 and the year end prices used for oil for June 30, 2009 were $84.54, $83.93, $81.04, $66.53 and $57.06 per barrel of oil, respectively.  Future cash flows were reduced by estimated future development, abandonment and production costs based on period–end costs.  No deductions were made for general overhead, depletion, depreciation and amortization or any indirect costs.  All cash flows are discounted at 10%.

Changes in demand for hydrocarbons, inflation and other factors make such estimates inherently imprecise and subject to substantial revisions.  This table should not be construed to be an estimate of current market value of the proved reserves attributable to Samson.

During the year ended June 30, 2013 we recognised four additional proved undeveloped drilling locations with respect to our Rainbow Project, the estimated cost to developed these locations is $16.4 million.

In previous reports, Samson did not include the effect of future income taxes in its calculation of the Standardized Measure of Discounted Future Net Cash Flows from its oil and gas properties (“SMOG”) because Samson’s substantial tax loss carryforwards, or net operating losses (“NOLs”) attributable to its proved reserves made it unlikely that Samson would pay any significant income taxes on income derived from those reserves.  The table below reflects the effect of future income taxes on the SMOG, however, because Samson’s recent sale of a portion of its unproved reserves in Goshen County, Wyoming, for $73.3 million, Samson is expected to utilize substantially all of it’s existing NOLs.  Samson also believes that reflecting the impact of future income taxes in its SMOG calculation is appropriate under the circumstances because many other public companies disclose the impact of future impact taxes, making Samson’s SMOG more readily comparable with that disclosed by those other companies.

The following table shows the estimated standardized measure of discounted future net cash flows relating to proved reserves (in US$’000’s):

	Fiscal Year Ended June 30
	2013		2012		2011		2010		2009
Future cash inflows	$	133,589	$	71,655	$	46,250	$	67,996	$	67,630
Future production costs		(44,672)		(29,321)		(16,046)		(23,288)		(20,290)
Future development costs		(29,012)		(10,198)		(917)		(11,910)		(5,416)
Future income taxes		(12,050)		(5,524)		(4,357)		–		(143)
Future net cashflows		47,855		26,612		24,930		32,798		41,781
10 % discount		(26,012)		(13,274)		(10,207)		(17,675)		(24,054)
Standardized measure of discounted future net cash flows relating to proved reserves	$	21,843	$	13,338	$	14,723	$	15,123	$	17,727

The principal sources of changes in the standardized measure of discounted future net cash flows during the periods ended June 30, 2013, June 30, 2012 and June 30, 2011 are as follows (in US$’000’s):

	Fiscal Year Ended June 30
	2013		2012		2011
Beginning of year	$	13,338	$	14,723	$	15,123
Sales of oil and gas produced during the period, net of production costs		(2,338)		(5,596)		(4,838)
Net changes in prices and production costs		8,027		3,216		7,983
Previously estimated development costs incurred during the period		-		917		3,713
Changes in estimates of future development costs		(18,814)		(10,198)		(5,256)
Extensions, discoveries and improved recovery		5,892		11,354		-
Revisions of previous quantity estimates and other		7,419		(643)		5,810
Sale of reserves in place		-		-		(6,522)
Purchase of reserves in place		11,664		-		-
Change in future income taxes		(6,526)		(987)		(2,573)
Accretion of discount		1,334		1,472		1,512
Other		1,847		(920)		(229)
Balance at end of year	$	21,843	$	13,338	$	14,723

The increase in extensions, discoveries and improved recovery during year ended June 30, 2013 mainly relates to our recognition of four new proved undeveloped locations in our Rainbow project in North Dakota and decreased salt water disposal costs North Stockyard field in North Dakota, following the drilling of a salt water disposal well and water gathering system in the field.

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Share-Based Payments (Schedule Of Unvested Stock Option Award Activity) (Details) (AUD)	12 Months Ended
	Jun. 30, 2013
Share-Based Payments [Abstract]
Non-vested at June 30, 2011	13,333,332
Vested	12,000,000
Forfeited
Non-vested at June 30, 2012	1,333,332
Weighted-average grant-date fair value, vested	0.06
Weighted-average grant-date fair value, forfeited
Weighted-average grant-date fair value, non-vested at June 30, 2012	0.11

XML

Share-Based Payments (Schedule Of Additional Information Related To Options Outstanding) (Details)	0 Months Ended							1 Months Ended			2 Months Ended	12 Months Ended						12 Months Ended
	Dec. 17, 2010 AUD	Nov. 18, 2010 AUD	Nov. 18, 2009 AUD	May 12, 2008 AUD	Oct. 10, 2007 AUD	Oct. 11, 2007 AUD	Jun. 14, 2006 AUD	Nov. 30, 2011 AUD	Jul. 31, 2011 AUD	Jan. 31, 2010 AUD	Nov. 30, 2009 AUD	Jun. 30, 2013 USD ($)	Jun. 30, 2013 AUD	Jun. 30, 2012 USD ($)	Jun. 30, 2012 AUD	Jun. 30, 2011 AUD	Jun. 30, 2010 AUD	Jun. 30, 2013 3.8 Cents [Member] AUD	Jun. 30, 2013 8 Cents [Member] AUD	Jun. 30, 2013 15.5 Cents [Member] AUD	Jun. 30, 2013 16.4 Cents [Member] AUD	Jun. 30, 2013 20 Cents [Member] AUD
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (Australian cents)	0.0800	0.08	0.20	0.25	0.30	0.30	0.45	0.155	0.1640	0.015	0.015	$ 0.015	0.015	$ 0.015	0.015	0.015		0.038	0.08	0.155	0.164	0.20
Options outstanding, number outstanding												166,807,526	166,807,526	301,499,902	301,499,902	333,412,940	349,485,386	97,307,526	60,500,000	4,000,000	4,000,000	1,000,000
Options outstanding, weighted average remaining contractual life - years																		3 years	1 year 6 months	2 years 3 months 18 days	1 year 6 months	5 months 1 day
Options outstanding, weighted average exercise prices													0.06		0.040	0.033	0.03	0.038	0.08	0.155	0.164	0.2
Options exercisable, number exercisable												165,474,192	165,474,192	288,166,570	288,166,570		312,079,606	97,307,526	60,500,000	4,000,000	2,666,666	1,000,000
Options exercisable, weighted average remaining contractual life																		3 years	1 year 6 months	2 years 3 months 18 days	1 year 6 months	5 months 1 day
Options exercisable, weighted average exercise prices													0.06		0.05	0.03		0.038	0.08	0.155	0.164	0.2