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CONSOLDIATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities  
Net income$ 3,792,151$ 851,463
Adjustments to reconcile net income (loss) to net cash flows from operating activities:  
Impairment and depreciation2,93452,996
Stock-based compensation (36,138)
Accretion of asset retirement obligation2,0381,906
Change in fair value of warrant liability(4,359,100)(1,083,644)
Gain on disposal of assets(2,141) 
Changes in operating assets and liabilities:  
Accounts receivable(13,476)7,327
Inventory (2,507)
Prepaid expenses(3,870) 
Accounts payable & accrued liabilities including related party payables10,332(11,929)
Net cash flows from operating activities(571,132)(220,526)
Cash flows from investing activities  
Acquisition of oil and gas properties(1,433)(8,523)
Proceeds from disposal of oil and gas properties7,390 
Acquisition of mineral properties(484,100) 
Net cash flows from investing activities(478,143)(8,523)
Effect of exchange rate changes on cash(38,582) 
Decrease in cash and cash equivalents(1,087,857)(229,049)
Cash and cash equivalents, beginning of period2,052,3052,409,770
Cash and cash equivalents, end of period964,4482,180,721
Supplemental disclosure of cash flow information:  
Interest paid in cash  
Income tax paid in cash