Supplemental Disclosure of Joint Venture Working Capital

12 Months Ended

Dec. 31, 2011

Supplemental Joint Venture Working Capital Elements [Abstract]

Supplemental Disclosure of Joint Venture Working Capital

20.           Supplemental Disclosure of Joint Venture Working Capital

The Company, through it's wholly-owned subsidiary as Operator of the Myra and Sara licenses, controls the current assets and current liabilities held on behalf of the Myra and Sara joint venture until those assets are expended or liabilities settled through the exploration activities in the licenses.  The following table outlines the presentation of amounts included in these consolidated financial statements.  The assets are committed to exploration activities in the Myra and Sara licenses and not available to the Company for use in general operations or other exploration activities.

	December 31, 2011	December 31, 2010
	$	$
Cash and cash equivalents	8,964,000	--
Accounts receivable	15,607,000
Restricted deposits	39,644,000	--
Prepaid expenses and deposits	265,000	--
Accounts payable	64,480,000	--