7. VENDOR RELEASE AND SETTLEMENTS	12 Months Ended
Jan. 31, 2014
Notes to Financial Statements
VENDOR RELEASE AND SETTLEMENTS	On October 8, 2013, the Company and a third party vendor entered into a settlement agreement, in which the Company was deemed by the third party vendor to have paid in full and fully satisfied all debts and obligations owed to the third party vendor by the Company with respect to a geophysical services agreement dated May 15, 2012 upon receipt of a $3,000 payment. The third party vendor received the aforementioned payment and the remaining accounts payable amount as of October 8, 2013, totaling $12,338, was settled and a gain was recorded. On October 9, 2013, the Company and a stockholder entered into a settlement agreement, in which the Company was deemed by the stockholder to have paid in full and fully satisfied all debts and obligations owed to the stockholder by the Company with respect to a consulting agreement dated June 6, 2011. The accounts payable - related party amount as of October 9, 2013, totaling $2,500, was settled and considered a contribution to capital. Also on October 9, 2013, the Company and certain of its employees and outside consultants entered into settlement agreements, in which the Company was deemed by the employees and outside consultants to have paid in full and fully satisfied all debts and obligations owed to the employees and outside consultants by the Company upon receipt of restricted shares of common stock, totaling 9,900,000 shares, with respect to past consulting agreements. A loss on the settlement of debt of $35,126 was recorded. See Note 11. On December 18, 2013, the Company and a management firm, which is owned by a former officer of the Company, entered into a settlement agreement, in which the Company was deemed by the management firm to have paid in full and fully satisfied all debts and obligations owed to the management firm by the Company with respect to a services agreement dated January 2, 2012 upon receipt of a $6,235 payment. The management firm received the aforementioned payment and the remaining accounts payable - related party amount as of December 18, 2013, totaling $6,235, was settled and considered a contribution to capital. On January 9, 2014, the Company entered into a settlement agreement with Gottbetter & Partners, LLP pursuant to which Gottbetter & Partners, LLP agreed to receive for payment in full of open invoices totaling $79,529, 79,739 shares of our post-Reverse Split common stock. As the Reverse Split had not occurred as of the period ended January 31, 2014, the settlement transaction was not accounted for as of January 31, 2014.

7. VENDOR RELEASE AND SETTLEMENTS

12 Months Ended

Jan. 31, 2014

On October 8, 2013, the Company and a third party vendor entered into a settlement agreement, in which the Company was deemed by the third party vendor to have paid in full and fully satisfied all debts and obligations owed to the third party vendor by the Company with respect to a geophysical services agreement dated May 15, 2012 upon receipt of a $3,000 payment. The third party vendor received the aforementioned payment and the remaining accounts payable amount as of October 8, 2013, totaling $12,338, was settled and a gain was recorded.

On October 9, 2013, the Company and a stockholder entered into a settlement agreement, in which the Company was deemed by the stockholder to have paid in full and fully satisfied all debts and obligations owed to the stockholder by the Company with respect to a consulting agreement dated June 6, 2011. The accounts payable - related party amount as of October 9, 2013, totaling $2,500, was settled and considered a contribution to capital.

Also on October 9, 2013, the Company and certain of its employees and outside consultants entered into settlement agreements, in which the Company was deemed by the employees and outside consultants to have paid in full and fully satisfied all debts and obligations owed to the employees and outside consultants by the Company upon receipt of restricted shares of common stock, totaling 9,900,000 shares, with respect to past consulting agreements. A loss on the settlement of debt of $35,126 was recorded. See Note 11.

On December 18, 2013, the Company and a management firm, which is owned by a former officer of the Company, entered into a settlement agreement, in which the Company was deemed by the management firm to have paid in full and fully satisfied all debts and obligations owed to the management firm by the Company with respect to a services agreement dated January 2, 2012 upon receipt of a $6,235 payment. The management firm received the aforementioned payment and the remaining accounts payable - related party amount as of December 18, 2013, totaling $6,235, was settled and considered a contribution to capital.

On January 9, 2014, the Company entered into a settlement agreement with Gottbetter & Partners, LLP pursuant to which Gottbetter & Partners, LLP agreed to receive for payment in full of open invoices totaling $79,529, 79,739 shares of our post-Reverse Split common stock. As the Reverse Split had not occurred as of the period ended January 31, 2014, the settlement transaction was not accounted for as of January 31, 2014.