XML 77 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 118 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Operating Activities      
Net income (loss) $ (505,903) $ (920,886) $ (14,780,606)
Items not affecting cash:      
Share based compensation 102,036 94,701 1,428,123
Bad debts (263,738) (10,565) 247,894
Depreciation and accretion 84,423 96,741 754,995
Forgiveness of loan payable       (287,406)
Settlement of lawsuit       435,549
Commissions withheld from loans proceeds       121,000
Loss on disposal of assets    64 226
Net changes in non-cash working capital (Note 13) (19,763) 180,294 (266,939)
Net Cash (Used) in Operating Activities (368,543) (559,651) (12,112,762)
Investing Activities      
Purchase of property and equipment    (860) (904,469)
Investment in oil and gas properties (2,566,139) (50,101) (11,177,244)
Long term investments (49,186) (5,343) (314,178)
Cash from acquisition of subsidiary       11,141
Return of costs from Farmout Agreement       961,426
Net Cash (Used) in Investing Activities (2,615,325) (56,304) (11,423,324)
Financing Activities      
Loan payable       275,852
Loan advance - related parties 260,000    (551,746)
Note payable repayment       (111,306)
Debenture repayment       (1,004,890)
Deposit on stock subscription       300,000
Proceeds from issuance of common stock 2,700,000    23,969,499
Proceeds from debenture net of commissions       879,000
Net Cash Provided by Financing Activities 2,960,000    23,756,409
Increase (decrease) in cash and cash equivalents (23,868) (615,955) 220,323
Cash and cash equivalents, beginning of period 244,191 723,766   
Cash and cash equivalents, end of period 220,323 107,811 220,323
Supplemental Cash Flow Information:      
Cash paid for interest       $ 202,159