Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
Jan. 31, 2012
Oct. 31, 2011
Current    
Cash and cash equivalents $ 140,482 $ 31,201
Accounts receivable 176,438 230,880
Prepaid expenses and deposit 5,898 2,147
Total Current Assets 322,818 264,228
Deferred charges 48,871 33,092
Oil and gas properties    
Proved property 3,697,497 3,717,866
Prepayment for oil and gas exploration 139,891 304,890
Unproved properties 19,293 19,293
Total Oil and Gas Properties 3,856,681 4,042,049
TOTAL ASSETS 4,228,370 4,339,369
Current    
Accounts payable and accrued liabilities 122,072 322,313
Loan payable 1,552,513 754,501
Due to a related party 1,769 1,769
Total Current Liabilities 1,676,354 1,078,583
Loan Payable 0 599,438
TOTAL LIABILITIES 1,676,354 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 January 31, 2012 (16,431,452 common shares at October 31, 2011) 16,431 16,431
Additional paid-in capital 7,117,124 7,107,535
Deficit (4,581,539) (4,462,618)
Total Stockholders' Equity 2,552,016 2,661,348
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,228,370 $ 4,339,369