Century Petroleum Corp.
(An Exploration Stage Company)
Balance Sheet
(Expressed in US dollars)
(unaudited)
October 31,
2007
ASSETS
Current Assets
Cash $ 414,661
Prepaid expenses and other current assets 50,475
Total Current Assets 465,136
Property and Equipment, net 3,448
Intangible Assets, net 10,627
Oil and Gas Interest (full cost method) (Note 2) 5,711,655
Total Assets $ 6,190,866
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities
Accounts payable $ 13,218
Accounts payable-related party (Note 5(a)) 100
Accrued liabilities 158,177
Due to related party (Note 5(a)) 2,000
Total Liabilities 173,495
Stockholders’ Equity
Preferred Stock, 7,000,000 shares authorized, $0.001 par value
none issued and outstanding –
Common Stock, 483,000,000 shares authorized, $0.001 par value
68,743,071 shares issued and outstanding 68,743
Additional Paid-in Capital 16,817,877
Common Stock Subscribed (128,333 shares to be issued) 101,383
Deferred Compensation (7,560,000 )
Deficit Accumulated During the Exploration Stage (3,410,632 )
Total Stockholders’ Equity 6,017,371
Total Liabilities and Stockholders’ Equity $ 6,190,866
