XML 25 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flows (USD $)
 12 Months Ended 89 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Cash Flows from Operating Activities:      
Net loss before other comprehensive loss $ (320,248) $ (78,419) $ (1,062,369)
Adjustments to reconcile net loss to cash used by operating activities:      
Depreciation, depletion and amortization expense 1,199 2,662 6,922
Write-off of website costs 0 0 7,917
Management fees 0 0 2,000
Interest expense. 0 0 5,221
Loss on impairment 0 22,655 292,917
Changes in working capital balances related to operations:      
(Increase) in note interest receivable (3,122) 0 (3,122)
Decrease in oil production receivable 0 5,623 0
(Increase) decrease in prepaid expense 800 (900) (1,429)
(Increase) in deposits 0 0 (116)
Increase (decrease) in accounts payable and accrued liabilities 225 (2,100) 4,704
Increase (decrease) in drilling and operating costs payable (1,209) (12,278) 0
Net Cash Flows Provided (Used) by Operating Activities (322,355) (62,757) (747,355)
Cash Flows from Investing Activities:      
Website costs 0 0 (7,917)
Available for sale investments 0 0 386
Note receivable (850,000) 0 (850,000)
Acquisition of office furniture 0 0 (8,392)
Acquisition of oil and gas interests 0 0 (296,042)
Net Cash Flows Provided (Used) by Investing Activities (850,000) 0 (1,161,965)
Cash Flows from Financing Activities:      
Proceeds from related party payables 0 0 102,513
Payments on related party payables 0 0 (27,435)
Issuance of common stock, net of costs 4,665,165 0 6,258,155
Net Cash Flows Provided by Financing Activities 4,665,165 0 6,333,233
Net Increase (Decrease) in Cash and Cash Equivalents 3,492,810 (62,757) 4,423,913
Cash and cash equivalents at beginning of period 931,103 993,860  
Cash and Cash Equivalents at End of Period 4,423,913 931,103 4,423,913
Supplemental Disclosures of Cash Flow Information:      
Interest 0 0 0
Taxes 0 0 0
Non-cash Investing and Financing Activities:      
Equity issued as compensation 0 0 2,000
Imputed interest 0 0 5,221
Forgiveness of related party payable $ 0 $ 0 $ 75,078