Prdponce
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CURRENT ASSETS
Cash
$ 89,016
$
1,310
Revenue receivable - oil and gas
3,862
1,727
TOTAL CURRENT ASSETS
92,878
3,037
PROPERTY AND EQUIPMENT, NET
9,761
11,425
OTHER ASSETS
Working interest in oil and gas property, net of depletion
93,816
78,727
TOTAL ASSETS
$
196,455
$
93,189
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable
$
214,965
$
165,960
Related party payables
112,700
82,500
Loans from shareholders
1,333
1,333
TOTAL CURRENT LIABILITIES
328,998
249,793
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock, 200,000,000 shares authorized,
$.001 par value; 98,366,166 and 85,866,166 shares
issued and outstanding, respectively
98,366
85,866
Additional paid-in capital
5,354,860
4,882,907
Subscriptions receivable
-
(96,197)
Accumulated deficit during exploration stage
(5,585,770)
(5,029,180)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)
(132,544)
(156,604)
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY (DEFICIT)
$
196,455
$
93,189
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