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v3.24.0.1

Balance Sheets - USD ($) | Oct. 31, 2023 | Oct. 31, 2022
--- | --- | ---
Current assets: |  |
Cash | $ 1,561,924 | $ 73,648
Prepaid expenses and other receivables | 133,417 | 35,000
Deferred offering costs |  | 1,643,881
Total current assets | 1,695,341 | 1,752,529
Oil and gas properties - not subject to amortization | 9,947,742 | 5,836,232
Advance to operators |  | 1,900,000
Total assets | 11,643,083 | 9,488,761
Current liabilities: |  |
Accounts payable and accrued liabilities | 609,360 | 1,164,055
Asset retirement obligations – current | 2,778 | 2,778
Convertible note, net of discounts | 1,217,597 |
Warrants liability |  | 114,883
Total current liabilities | 1,851,386 | 6,710,652
Long-term liabilities: |  |
Franchise tax accrual |  | 9,450
Asset retirement obligations, net of current portion | 48,313 | 45,535
Total Long-term liabilities | 48,313 | 54,985
Total liabilities | 1,899,699 | 6,765,637
Commitments and Contingencies (Note 7) |  |
Stockholders’ Equity: |  |
Preferred stock, $0.0001 par value; 10,000,000 shares authorized; -0- shares issued and outstanding at October 31, 2023 and 2022, respectively |  |
Common stock, $0.0001 par value; 490,000,000 shares authorized; 31,046,516 and 16,972,800 shares issued and outstanding as of October 31, 2023 and 2022, respectively | 3,105 | 1,697
Stock subscription receivable | (10,010) | (10,010)
Additional paid-in capital | 20,197,171 | 6,633,893
Accumulated deficit | (10,446,882) | (3,902,456)
Total stockholders’ equity | 9,743,384 | 2,723,124
Total liabilities and stockholders’ equity | 11,643,083 | 9,488,761
Operators [Member] |  |
Current liabilities: |  |
Due to operators | 21,651 |
Nonrelated Party [Member] |  |
Current liabilities: |  |
Notes payable |  | 4,403,439
Related Party [Member] |  |
Current liabilities: |  |
Notes payable |  | $ 1,025,497

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