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, 2012
Jul. 31, 2011
Jul. 31, 2012
Jul. 31, 2011
Revenue        
Natural gas and oil revenue * $ 494,483 $ 327,685 $ 888,726 $ 876,959
Cost of revenue        
Natural gas and oil operating costs 56,586 78,076 240,432 291,441
Depletion 172,763 75,253 277,267 284,317
Total cost of revenue 229,349 153,329 517,699 575,758
Gross profit (loss) 265,134 174,356 371,027 301,201
Expenses        
Accounting and audit 10,313 4,448 38,655 27,517
Insurance 1,475 2,137 5,096 6,612
Advertising and promotions 480 15,416 3,096 36,372
Bank charges and exchange loss (10,036) 18,276 2,301 81,693
Stock Based Compensation 0 179,789 9,589 179,789
Consulting 52,936 74,743 179,535 189,471
Depreciation 0 0 0 425
Fees and Dues 17,971 13,216 45,933 24,228
Interest expense from loan payable 58,806 57,554 171,801 172,262
Investor relation 0 0 29,616 29,153
Legal and professional 50,950 38,781 126,761 46,670
Office and miscellaneous 628 2,266 2,279 4,279
Rent 3,835 3,604 11,510 10,576
Telephone 1,040 618 2,314 2,544
Taxes 6,655 592 6,655 5,977
Training 0 0 0 268
Travel 1,959 15,885 18,804 22,280
Total operating expenses 197,012 427,325 653,945 840,116
Net Income (loss) and comprehensive income (loss) for the period $ 68,122 $ (252,969) $ (282,918) $ (538,915)
Basic earnings/(loss) per share $ 0.00 $ (0.02) $ (0.02) $ (0.04)
Diluted earnings/(loss) per share $ 0.00 $ (0.02) $ (0.02) $ (0.04)
Weighted average number of common shares outstanding        
- Basic 16,431,452 14,276,776 16,431,452 13,451,758
- Diluted 16,437,269 14,276,776 16,431,452 13,451,758