XML 46 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Sep. 30, 2012
Current Assets    
Cash and cash equivalents $ 7,633,009 $ 244,191
Accounts receivable net of allowance of $17,048 (September 30, 2012 - $243,752) 55,216 156,251
Prepaid expenses 82,700 46,232
Total Current Assets 7,770,925 446,674
Long term investments (Note 8) 343,565 275,600
Oil and gas properties, net (Notes 3 and 4) 15,921,770 13,190,518
Property and equipment, net of depreciation (Note 7) 330,108 322,660
TOTAL ASSETS 24,366,368 14,235,452
Current Liabilities    
Accounts payable 268,258 72,697
Accounts payable - related parties (Note 9) 18,144 408,277
Loan payable - related parties (Note 9) 189,500   
Total Current Liabilities 475,902 480,974
Asset retirement obligations (Note 10) 446,155 425,700
TOTAL LIABILITIES 922,057 906,674
SHAREHOLDERS' EQUITY    
Common Stock: (Note 11) Authorized: 600,000,000 shares at $0.001 par value Issued and outstanding: 229,326,987 shares(September 30, 2012 - 136,739,971 shares) 229,326 136,739
Additional paid in capital 39,953,091 27,166,742
Deposits on stock subscription (Note 11)    300,000
Deficit accumulated during exploration stage (16,738,106) (14,274,703)
Total Shareholders' Equity 23,444,311 13,328,778
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 24,366,368 $ 14,235,452