Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
Jul. 31, 2012
Oct. 31, 2011
Current    
Cash and cash equivalents $ 16,445 $ 31,201
Accounts receivable 497,866 230,880
Prepaid expenses and deposit 2,949 2,147
Total Current Assets 517,260 264,228
Deferred charges 0 33,092
Oil and gas properties    
Proved property 3,687,691 3,717,866
Prepayment for oil and gas exploration 0 304,890
Unproved properties 19,293 19,293
Total oil and gas properties 3,706,984 4,042,049
TOTAL ASSETS 4,224,244 4,339,369
Current    
Accounts payable and accrued liabilities 182,009 322,313
Loan payable 1,652,447 754,501
Due to a related party 1,769 1,769
Total Current Liabilities 1,836,225 1,078,583
Loan Payable 0 599,438
TOTAL LIABILITIES 1,836,225 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 July 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 (4,745,536) (4,462,618)
Total Stockholders' Equity 2,388,019 2,661,348
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,224,244 $ 4,339,369