v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash and cash equivalents $ 7,618  
Note receivable and advances-related party 203,315  
Prepaid expenses 12,460 32,080
Total current assets 223,393 32,080
OIL & GAS PROPERTIES(FULL COST METHOD):    
Evaluated 500,000  
Mineral rights 18,455  
Gross oil & natural gas properties 518,455  
Less: accumulated depletion      
Net oil & natural gas properties 518,455  
OTHER ASSETS:    
Note receivable and advances - related party   195,795
Total other assets   195,795
TOTAL ASSETS 741,848 227,875
CURRENT LIABILITIES:    
Accounts payable 108,144 114,052
Accrued expenses 91,097 534,295
Cash overdraft   93
Net assets available for disposal   397,029
Accrued interest payable 9,876 5,063
Beneficial conversion feature 101,561 77,945
Convertible notes payable, net of debt discount of $41,112 and $22,055 196,888 122,055
Total current liabilities 507,566 1,250,532
LONG TERM LIABILITIES:    
Accrued interest payable-related party 25,808 30,772
Note payable - related party 500,000 600,000
Total long term liabilities 525,808 630,772
Total liabilities 1,033,374 1,881,304
STOCKHOLDERS' EQUITY:    
Common stock, $0.01 par value, 50,000,000 shares authorized, 32,519,433 and 10,969,433 issued and outstanding 325,194 109,694
Stock subscription receivable (62,135) (60,000)
Additional paid in capital 11,863,261 9,735,444
Accumulated deficit (12,417,846) (11,438,567)
Total stockholders' equity (291,526) (1,653,429)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 741,848 227,875
Series A Preferred Stock
    
STOCKHOLDERS' EQUITY:    
Preferred Stock Value      
Series B Preferred Stock
    
STOCKHOLDERS' EQUITY:    
Preferred Stock Value