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Consolidated statements of cash flows (CAD)
3 Months Ended 83 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Operating activities      
Net loss for the period (69,546) (70,362) (12,700,174)
Adjustments to reconcile net loss to net cash used in operating activities:      
Accretion of discount on convertible note payable 0 0 146,205
Deferred income tax recovery 0 0 (291,060)
Depletion 0 0 1,256,066
Depreciation 297 453 8,342
Gain on sale of marketable securities 0 0 (4,635)
Gain on sale of oil and gas properties 0 0 (381,166)
Gain loss on settlement of debt 0 0 (346,663)
Impairment of oil and gas costs 0 0 2,984,236
Interest accrued on notes payable 0 0 20,392
Shares and warrants issued for services 0 0 895,760
Stock-based compensation 0 0 2,014,106
Write-off of exploration advances 0 0 37,558
Changes in operating assets and liabilities      
Amounts receivable (83) 11,287 (4,895)
Prepaid expenses and deposits 3,284 4,952 (10,787)
Accounts payable and accrued liabilities 12,764 29,772 1,029,200
Due from related parties 700 0 65,449
Net cash used in operating activities (52,584) (23,898) (5,282,066)
Investing activities      
Cash acquired through recapitalization 0 0 320
Restricted cash 6,322 0 (2,339)
Exploration advances 0 0 (270,919)
Loan receivable 0 0 (572,000)
Proceeds from sale of oil and gas properties 0 0 50,000
Proceeds from sale of marketable securities 0 0 79,635
Oil and gas properties expenditures (801) (95,840) (4,099,251)
Purchase of property and equipment 0 0 (13,008)
Net cash provided by (used in) investing activities 5,521 (95,840) (4,827,562)
Financing activities      
Proceeds from loans payable 35,500 0 806,050
Proceeds from issuance of common stock/ subscriptions received 0 0 9,094,933
Repurchase of common stock 0 0 (15,028)
Net cash provided by financing activities 35,500 0 9,885,955
Effect of exchange rate changes on cash 74 5,971 224,365
Change in cash (11,489) (113,767) 692
Cash, beginning of period 12,181 432,535 0
Cash, end of period 692 318,768 692