Quarterly report pursuant to Section 13 or 15(d)

STATEMENT OF CASH FLOWS

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STATEMENT OF CASH FLOWS (USD $)
3 Months Ended
Jan. 31, 2012
Jan. 31, 2011
Cash flows used in operating activities    
Net (loss) $ (118,921) $ (130,177)
Adjustments to reconcile net loss to net cash used in operating activities:    
Consulting -Debt Settlement 0 9,375
Consulting - Stock based compensation 9,589 0
Depreciation 0 255
Depletion 65,570 127,219
Foreign exchange gain / loss (1,426) 0
Change in operating assets and liabilities:    
(Increase)/Decrease in accounts receivable 54,442 (100,984)
(Increase)/ Decrease in prepaid expenses and deposit 145,469 (6,449)
Increase in accounts payable (200,241) 29,644
Net cash used in operating activities (45,518) (71,117)
Cash flows used in investing activities    
Oil and gas property acquisition and exploration costs (45,201) (241,876)
Net cash from (used in) investing activities (45,201) (241,876)
Cash flows from financing activities    
Payments of loan payable 0 (104,986)
Proceeds from private placement and convertible debt 200,000 620,000
Proceeds from Stock Options and warrant 0 14,586
Net cash from financing Activities 200,000 529,600
Increase in cash and cash equivalents 109,281 216,607
Cash and cash equivalents, beginning of period 31,201 62,989
Cash and cash equivalents, end of period $ 140,482 $ 279,596