XML 19 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements Of Cash Flows (USD $)
9 Months Ended
Oct. 31, 2011
Oct. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (9,338,920) $ (1,792,727)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accretion of asset retirement obligation 211,105 196,454
Depreciation, depletion and amortization 1,573,802 54,996
Stock-based compensation 5,556,377 748,707
Less gain on sale of oil and gas properties   (976,900)
Foreign exchange changes   (20,840)
Changes in operating assets and liabilities:    
Prepaid expenses and deposits 2,522 (318,786)
Accounts receivable (4,801,372) (28,556)
Accounts payable and accrued liabilities (1,433,709) (179,674)
Cash used in operating activities (8,230,195) (2,317,326)
CASH FLOWS FROM INVESTING ACTIVITIES    
Oil and gas property expenditures (84,865,060) (11,955,610)
Purchase of property and equipment (5,534,819)  
Cash advanced to operators for oil and gas property expenditures (4,287,435)  
Cash refund of collateral account 105,264  
Non-controlling interest in subsidiary 4,000,000  
Proceeds from sale of oil and gas properties 46,800 976,900
Cash used in investing activities (90,535,250) (10,978,710)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of common stock 142,312,310 10,117,000
Common stock issuance costs (7,569,527) (796,932)
Issuance of common stock for exercise of options 110,651 234,956
Cash provided by financing activities 134,853,434 9,555,024
Foreign exchange change on cash   20,841
NET INCREASE (DECREASE) IN CASH 36,087,989 (3,720,171)
CASH, BEGINNING OF PERIOD 57,773,269 4,878,601
CASH, END OF PERIOD 93,861,258 1,158,430
NON-CASH INVESTING ACTIVITIES    
Additions to oil and gas properties through accounts payable and accrued liabilities 9,839,143  
Additions to oil and gas properties through the issuance of common stock $ 11,780,344