XML 27 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities    
Net income/(loss) $ (243,959) $ 4,457,582
Impairment and depreciation 1,527 3,264
Accretion of asset retirement obligation 2,216 2,758
Change in fair value of warrant liability    (5,248,041)
Gain on disposal of assets    (2,140)
Changes in operating assets and liabilities:    
Decrease (increase) in receivables 13,714 (11,899)
(Increase) decrease in prepaid expenses (7,562)   
(Decrease) increase in accounts payable and accrued liabilities including related party payables (33,150) 51,018
Net cash flows from operating activities (267,214) (747,458)
Cash flows from investing activities    
Acquisition of oil and gas properties (6,962) (599)
Proceeds from disposal of oil and gas properties    7,377
Acquisition of mineral properties    (519,750)
Net cash flows from investing activities (6,962) (512,972)
Effect of exchange rate changes on cash and cash equivalents    (4,104)
Decrease in cash and cash equivalents (274,176) (1,264,534)
Cash and cash equivalents, beginning of period 787,771 2,052,305
Cash and cash equivalents, end of period 513,595 787,771
Supplemental disclosure of cash flow information:    
Interest paid in cash      
Income tax paid in cash