XML 27 R2.htm IDEA: XBRL DOCUMENT v2.3.0.15
Condensed Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
ASSETS  
Cash and cash equivalents$ 63,313$ 205,102
Accounts receivable44,86151,665
Prepaid services3,0300
Total current assets111,204256,767
Property and equipment:  
Furniture and fixtures1,8511,851
Less: accumulated depreciation(1,851)(1,665)
Total property and equipment, net0186
Other assets:  
Proved oil and gas properties, full cost method608,616462,662
Less: accumulated depletion(161,628)(99,363)
Unproved oil and gas properties17,5077,507
Total other assets464,495370,806
Total assets575,699627,759
LIABILITIES & STOCKHOLDERS' DEFICIT  
Accounts payable135,002171,220
Royalties due stockholders43,91546,865
Related party payables296,674234,674
Notes payable393,538373,977
Stockholder loans19,84519,845
Total current liabilities888,974846,581
Long-term liabilities:  
Asset retirement obligation12,78010,980
Total long-term liabilities12,78010,980
Total liabilities901,754857,561
Stockholders' Deficit:  
Preferred stock, par value $.001 authorized 10,000,000 shares no shares issued at September 30, 2011 and December 31, 201000
Common stock, par value $.001 Issued 50,532,338 shares at September 30, 2011 and 50,182,338 shares at December 31, 201050,53250,182
Paid-in capital5,337,5495,217,642
Accumulated deficit(5,705,174)(5,472,618)
Other comprehensive Gain/(loss)(8,962)(25,008)
Total stockholders' deficit(326,055)(229,802)
Total liabilities and stockholders' deficit$ 575,699$ 627,759