XML 47 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Sep. 30, 2014
Current Assets    
Cash and cash equivalents $ 2,023,228 $ 2,324,755
Accounts receivable net of allowance of $Nil (September 30, 2014 - $Nil) 226,765 1,050,099
Prepaid expenses 49,457 43,875
Total Current Assets 2,299,450 3,418,729
Long term investments 372,571 409,618
Oil and gas properties, net, based on successful efforts method of accounting 19,613,425 19,604,050
Property and equipment, net 217,697 259,198
TOTAL ASSETS 22,503,143 23,691,595
Current Liabilities    
Accounts payable and accrued liabilities 182,794 714,198
Accounts payable and accrued liabilities- related parties 7,101 16,977
Total Current Liabilities 189,895 731,175
Asset retirement obligations (Note 10) 435,415 469,013
TOTAL LIABILITIES 625,310 1,200,188
SHAREHOLDERS' EQUITY    
Common Stock: (Note 11) Authorized: 600,000,000 shares at $0.001 par value Issued and outstanding: 229,374,605 shares (September 30, 2014 - 229,326,987 shares) 229,374 229,326
Additional paid in capital 41,911,156 41,040,447
Accumulated Deficit (20,262,697) (18,778,366)
Total Shareholders' Equity 21,877,833 22,491,407
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 22,503,143 $ 23,691,595