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Statements of Operations (USD $) | 12 Months Ended | 89 Months Ended
--- | --- | ---
Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011
Revenue from oil and gas properties | $ 2,624 | $ 8,269 | $ 16,744
Production costs | (600) | (8,429) | (15,252)
Depreciation, depletion, amortization | 0 | (1,463) | (3,125)
Results from oil and gas operations | 2,024 | (1,623) | (1,633)
General and Administrative Expenses: |  |  |
Accounting and legal | 28,018 | 19,779 | 181,763
Advertising and promotion | 0 | 0 | 49,614
Consulting | 10,275 | 5,175 | 135,450
Management and director fees | 15,000 | 15,000 | 62,400
Transfer agent and filing | 6,515 | 1,770 | 33,319
Rent | 13,200 | 12,700 | 44,400
Depreciation | 1,199 | 1,199 | 3,797
Other | 4,271 | 1,726 | 44,042
Total General Administrative Expenses | 78,478 | 57,349 | 554,785
Non-refundable transaction fee | 250,000 | 0 | 250,000
Loss From Operations | (326,454) | (58,972) | (806,418)
Other Income and (Expense): |  |  |
Dividend and interest Income | 6,206 | 3,208 | 42,187
Interest expense | 0 | 0 | (5,221)
Loss on impairment of oil and gas properties | 0 | (22,655) | (292,917)
Total Other Income and (Expense) | 6,206 | (19,447) | (255,951)
Net Loss Applicable to Common Stockholders | $ (320,248) | $ (78,419) | $ (1,062,369)
Net loss per common share, basic and diluted | $ (0.09) | $ (0.02) |
Average number of common shares outstanding | 3,576,988 | 3,548,200 |

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