Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
Oct. 31, 2012
Oct. 31, 2011
Current    
Cash and cash equivalents $ 180,514 $ 31,201
Accounts receivable 290,936 230,880
Prepaid expenses and deposit 1,475 2,147
Total Current Assets 472,925 264,228
Deferred charges 0 33,092
Oil and gas properties    
Proved property 3,699,535 3,717,866
Prepayment for oil and gas exploration 0 304,890
Unproved properties 19,293 19,293
Total oil and gas properties 3,718,828 4,042,049
TOTAL ASSETS 4,191,753 4,339,369
Current    
Accounts payable and accrued liabilities 67,043 322,313
Loan payable 1,642,520 754,501
Due to a related party 1,769 1,769
Total Current Liabilities 1,711,332 1,078,583
Loan payable 0 599,438
Asset retirement obligations 59,245 0
TOTAL LIABILITIES 1,770,577 1,678,021
STOCKHOLDERS' EQUITY    
Share Capital Authorized: 200,000,000 common voting shares with a par value of $0.001 per share Issued and outstanding: 16,431,452 common shares at October 31, 2012 (16,431,452 common shares at October 31, 2011) 16,431 16,431
Additional paid-in capital 7,118,871 7,107,535
Deficit (4,714,126) (4,462,618)
Total Stockholders' Equity 2,421,176 2,661,348
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,191,753 $ 4,339,369