Quarterly report pursuant to Section 13 or 15(d)

STATEMENTS OF OPERATIONS

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STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
Jul. 31, 2011
Jul. 31, 2010
Jul. 31, 2011
Jul. 31, 2010
Revenue        
Natural gas and oil revenue $ 359,621 $ 122,462 $ 1,006,068 $ 229,885
Cost of revenue        
Natural gas and oil operating costs 110,012 23,927 420,550 78,389
Depletion 75,253 59,001 284,317 119,024
Write down in carrying value of oil & gas properties 0 0 0 1
Total cost of revenue 185,265 82,928 704,867 197,414
Gross profit (loss) 174,356 39,534 301,201 32,471
Expenses        
Accounting and audit 4,448 2,912 27,517 21,870
Insurance 2,137 2,338 6,612 4,676
Advertising and promotions 15,416 0 36,372 559
Bank charges and exchange loss 18,276 (25,595) 81,693 26,689
Stock Based Compensation 179,789 0 179,789 139,050
Consulting 74,743 37,026 189,471 122,872
Depreciation 0 255 425 765
Fees and Dues 13,216 3,621 24,228 18,724
Interest expense from loan payable 57,554 43,232 172,262 123,827
Investor relation 0 0 29,153 1,943
Legal and professional 38,781 44 46,670 21,868
Office and miscellaneous 2,266 154 4,279 976
Rent 3,604 3,884 10,576 11,467
Telephone 618 706 2,544 2,033
Taxes 592 0 5,977 5,745
Training 0 0 268 0
Travel 15,885 369 22,280 4,157
Total Operating expenses 427,325 68,946 840,116 507,221
Net (loss) and comprehensive loss for the period $ (252,969) $ (29,412) $ (538,915) $ (474,750)
Basic and diluted (loss) per share $ (0.02) $ 0.00 $ (0.04) $ (0.04)
Weighted average number of common shares outstanding        
- Basic and diluted 14,276,776 12,682,073 13,451,758 12,148,251