Oil and Gas Properties

6 Months Ended

Dec. 31, 2010

Oil and Gas Properties [Abstract]

Oil and Gas Exploration and Production Industries Disclosures [Text Block]

Note 16Oil and Gas Properties

The following table represents the capitalized costs under the successful efforts method for oil and gas properties at:

	December 31, 2011		June 30, 2011
Proved oil and gas properties:
United Kingdom	$	-	$	-
United States		22,841,426		19,185,630
Australia		10,761,816		116,908,491
Less accumulated depletion, depreciation, and amortization		(11,130,368)		(115,916,596)
Total net proved oil and gas properties	$	22,472,874	$	20,177,525
Unproved oil and gas properties:
United Kingdom	$	3,169,281	$	3,205,058
United States		12,914		162,914
Australia		-		-
Total unproved oil and gas properties:	$	3,182,195	$	3,367,972
Wells in Progress:
United Kingdom	$	2,839,874	$	2,054,668
United States		3,379,406		2,260,568
Australia		-		-
Total wells in progress	$	6,219,280	$	4,315,236