Quarterly report pursuant to Section 13 or 15(d)

STATEMENT OF CASH FLOWS

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STATEMENT OF CASH FLOWS (USD $)
9 Months Ended
Jul. 31, 2011
Jul. 31, 2010
Cash flows used in operating activities    
Net (loss) $ (538,915) $ (474,750)
Adjustments to reconcile net loss to net cash used in operating activities:    
Consulting - Debt settlement 9,376 0
Stock based compensation 179,789 139,050
Depreciation 425 765
Depletion 284,317 119,024
Write down in carrying value of oil and gas properties 0 0
Foreign exchange gain / loss 75,410 21,904
Accredited interest on loan payable 10,358 11,596
Change in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable (156,727) (15,020)
(Increase)/ Decrease in prepaid expenses and deposit (1,936) (4,676)
Increase in accounts payable (45,118) 44,934
Net cash used in operating activities (183,021) (157,173)
Cash flows used in investing activities    
Oil and gas property acquisition and exploration costs (281,164) 0
Net cash used in investing activities (281,164) 0
Cash flows from financing activities    
Payments of loan payable 331,444 75,000
Proceeds from private placement 70,000 183,400
Proceeds from Stock Options and warrant 494,194 0
Net cash from financing Activities 895,638 258,400
Increase (Decrease) in cash and cash equivalents 431,453 101,227
Cash and cash equivalents, beginning of period 62,989 330,167
Cash and cash equivalents, end of period $ 494,442 $ 431,394