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Related Party Transactions
12 Months Ended
Jul. 31, 2018
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 9 - RELATED PARTY TRANSACTIONS

 

A former officer of the Company has advanced the Company $24,747 by making payments on behalf of the Company. The full balance of $24,747 was still owed as of July 31, 2016. The advance is unsecured, non-interest bearing and has no specific terms of repayment. During the year ended July 31, 2017, this debt was forgiven and credited to paid in capital.

 

For the year ended July 31, 2018 and 2017, total payments of $56,500 and $32,750, respectively were made to an officer of the Company for consulting services.

 

For the year ended July 31, 2018 and 2017, total payments of $26,500 and $0, respectively were made to directors of the Company for consulting services.

 

On July 31, 2018, Winona Webb, the wife of Ivan Webb, CEO, loaned the Company $25,000 for general operating expenses. This loan was repaid on August 2, 2018.

 

During the fiscal year ended July 31, 2018 the Company acquired from Ivan Webb, CEO of the Company, the oil and gas rights to two oil and gas leases located in Callahan County, Texas known as the Carter and Foster leases for total consideration of $1.00.