SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2011
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 10 – SUBSEQUENT EVENTS The Company has evaluated all subsequent events from the balance sheet date through the date of this filing and with the exception of the items below there are no events to disclose. In October of 2011, the Company issued 80,000 shares of common stock to an unrelated party for $6,240 of loan origination fees incurred in the third quarter. The Company also issued 582,472 shares of common stock to an unrelated party for payment of 8% convertible debt in the amount of $28,000. In October of 2011, the Company executed an 8% convertible note payable with an unrelated party in the amount of $30,000. The note is due nine months from the date of execution. In October of 2011, the Company executed notes payable in the amount of $350,000 with unrelated parties. In consideration for the notes payable the Company agreed to issue 1,700,000 shares of common stock and $32,000 of bonus payment to the lenders. The Company also issued 400,000 warrants to the lenders with an exercise price of $.15 per share. The warrants expire December 31, 2016. The notes mature between December 12 and December 24, 2011. In October of 2011, the Company paid $20,000 of the principal due on the July 1, 2011 notes payable to an unrelated party. On October 2, 2011, the Company extended a $1,500,000 line of credit to Lily group according to the terms of the Second Letter of Intent (see Note 4 “Asset Acquisitions). The line of credit accrues interest at 12% per annum. As of the date of this filing the Company has funded the line of credit in the amount of $955,000. On October 25, 2011 the Company made an initial payment of $25,000 to Outdoor Resources, Inc. related to the “Turnkey” drilling agreement (see Note 4 “Asset Acquisitions”).

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2011

NOTE 10 – SUBSEQUENT EVENTS

The Company has evaluated all subsequent events from the balance sheet date through the date of this filing and with the exception of the items below there are no events to disclose.

In October of 2011, the Company issued 80,000 shares of common stock to an unrelated party for $6,240 of loan origination fees incurred in the third quarter. The Company also issued 582,472 shares of common stock to an unrelated party for payment of 8% convertible debt in the amount of $28,000.

In October of 2011, the Company executed an 8% convertible note payable with an unrelated party in the amount of $30,000. The note is due nine months from the date of execution.

In October of 2011, the Company executed notes payable in the amount of $350,000 with unrelated parties. In consideration for the notes payable the Company agreed to issue 1,700,000 shares of common stock and $32,000 of bonus payment to the lenders. The Company also issued 400,000 warrants to the lenders with an exercise price of $.15 per share. The warrants expire December 31, 2016. The notes mature between December 12 and December 24, 2011.

In October of 2011, the Company paid $20,000 of the principal due on the July 1, 2011 notes payable to an unrelated party.

On October 2, 2011, the Company extended a $1,500,000 line of credit to Lily group according to the terms of the Second Letter of Intent (see Note 4 “Asset Acquisitions). The line of credit accrues interest at 12% per annum. As of the date of this filing the Company has funded the line of credit in the amount of $955,000.

On October 25, 2011 the Company made an initial payment of $25,000 to Outdoor Resources, Inc. related to the “Turnkey” drilling agreement (see Note 4 “Asset Acquisitions”).