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American Oil & Gas Inc. - (An Exploration Stage Company) - Balance Sheet (USD $)
|
Apr. 30, 2012
|
Jan. 31, 2012
|
||||
---|---|---|---|---|---|---|
Current Assets | ||||||
Cash | $ 8,121 | $ 25,000 | ||||
Total Current Assets | 8,121 | 25,000 | ||||
Oil and Gas Property (Successful Efforts Method) | ||||||
Unproven | 10,000 | 0 | ||||
Total Assets | 18,121 | 25,000 | ||||
Current Liabilities | ||||||
Accounts Payable | 907 | 565 | ||||
Loan Payable - Related Party | 15,000 | 15,000 | ||||
Total Current Liabilities | 15,907 | 15,565 | ||||
Stockholders Equity | ||||||
Common Stock | 10,000 | [1] | 10,000 | [1] | ||
Deficit accumulated during development stage | (7,786) | (565) | ||||
Total Stockholders Equity | 2,214 | 9,435 | ||||
Total Liabilities and Stockholders Equity | $ 18,121 | $ 25,000 | ||||
|
Risks and Uncertainties
|
3 Months Ended |
---|---|
Apr. 30, 2012
|
|
Risks and Uncertainties | |
Concentration Risk Disclosure [Text Block] | Note 2 - Going Concern
As of April 30, 2012, the Company has not generated revenues and has accumulated losses since inception. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, its ability to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Companys ability to continue as a going concern. |
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Extractive Industries
|
3 Months Ended |
---|---|
Apr. 30, 2012
|
|
Extractive Industries | |
Oil and Gas Exploration and Production Industries Disclosures [Text Block] | Note 3 - Investments in Oil and Gas Properties
Cecil Barlow
On February 2, 2012, the Company paid $10,000 for a 100% working interest in the Cecil Barlow lease in Caddo Parish, Louisiana. The Cecil Barlow lease has a single well located on the property.
|
American Oil & Gas Inc. - (An Exploration Stage Company) - Statement of Operations (USD $)
|
3 Months Ended | |
---|---|---|
Apr. 30, 2012
|
Apr. 30, 2012
|
|
Revenues | ||
Revenues | $ 0 | $ 0 |
Total Revenues | 0 | 0 |
General and Administration | 3,921 | 4,486 |
Professional Fees | 3,300 | 3,300 |
Total Expenses | 7,221 | 7,786 |
Net Income (Loss) | $ (7,221) | $ (7,786) |
Net Loss Per Basic and Diluted share | $ 0 | $ 0 |
Weighted average number of common shares outstanding | 10,000,000 | 10,000,000 |
Document and Entity Information (USD $)
|
3 Months Ended |
---|---|
Apr. 30, 2012
|
|
Document and Entity Information | |
Entity Registrant Name | American Oil & Gas Inc. |
Document Type | 10-Q |
Document Period End Date | Apr. 30, 2012 |
Amendment Flag | false |
Entity Central Index Key | 0001544400 |
Current Fiscal Year End Date | --01-31 |
Entity Common Stock, Shares Outstanding | 10,000,000 |
Entity Public Float | $ 0 |
Entity Filer Category | Smaller Reporting Company |
Entity Current Reporting Status | No |
Entity Voluntary Filers | No |
Entity Well-known Seasoned Issuer | No |
Document Fiscal Year Focus | 2013 |
Document Fiscal Period Focus | Q1 |
American Oil & Gas Inc. - (An Exploration Stage Company) - Statements of Cash Flows (USD $)
|
3 Months Ended | |
---|---|---|
Apr. 30, 2012
|
Apr. 30, 2012
|
|
Cash Flows From Operating Activities | ||
Net Income (Loss) | $ (7,221) | $ (7,786) |
Changes in operating assets and liabilities: | ||
Increase (Decrease) in Accounts Payable | 342 | 907 |
Net cash provided by (used in) operating activities | (6,879) | (6,879) |
Cash Flows From Investing Activities | ||
Oil and Gas Property | (10,000) | (10,000) |
Net cash provided by (used in) investing activities | (10,000) | (10,000) |
Cash Flows From Financing Activities | ||
Loan Payable - Related Party | 0 | 15,000 |
Issuance of common stock | 0 | 10,000 |
Net cash provided by (used in) financing activities | 0 | 25,000 |
Net increase (decrease) in cash | (16,879) | 8,121 |
Cash at Beginning of Period | 25,000 | 0 |
Cash at End of Period | 8,121 | 8,121 |
Supplemental Disclosures of Cash Flow Information | ||
Cash paid during year for Interest | 0 | 0 |
Cash paid during year for Income Taxes | $ 0 | $ 0 |
Organization, Consolidation and Presentation of Financial Statements
|
3 Months Ended |
---|---|
Apr. 30, 2012
|
|
Organization, Consolidation and Presentation of Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 - Basis of Presentation
The accompanying unaudited interim financial statements of American Oil & Gas Inc. (the Company) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Companys S-1 Registration Statement filed with SEC. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2012 as reported in the S-1 Registration Statement have been omitted. |