10Q Highlights
"We had no revenues for either the three months ended March 31, 2011 or 2010"
"Our lease operating expenses were $106,715 in 2011 versus zero in 2010"
"General and administrative expenses have increased from $131,589 in 2009 to $142,548 in 2010"
"Interest expense is higher during the three months ended March 31, 2011 versus the same period in 2010, due to higher debt levels."
"We intend to finance our work over and acquisition program by bank debt and additional sales of common stock."
"After initial flow rates that exceeded expectations, the Robin Moody #1 well DECLINED to 1 BARREL PER DAY."
Sales of oil $ -
Total revenues -
Share Balances, December 31, 2010 496,605,424
Share Balances, March 31, 2011 573,149,907
CASH FLOWS FROM OPERATING ACTIVITIES
Three Months Ended Mar 31,
2011 2010
Net loss $-245,725 $-134,712 $-2,060,352
Shares issued to acquire oil and gas properties -
Acquisition of other assets with stock 72,250
Shares issued for retirement of debt 622,732
On February 14, 2011, we issued 10,296,609 shares for cash
On March 1, 2011, we issued 1 million shares to a consultant.
On March 1, 2011, we issued 2,250,000 shares to our previous operator in Tennessee.
On March 3, 2011, we issued 23,500,000 shares to our seismic consultant in Belize.
On March 3, 2011, we issued 13,597,874 shares to a consultant for work performed during 2009 and 2010.
On March 16, 2011, we issued 4 million shares to a previous director and recorded.
On March 29, 2010, we issued 14 million shares to our previous CEO and Chairman, Randall Newton, for work performed during 2009 and 2010, and repayment of cash contributions made by him.
On March 31, 2011, we issued 7,900,000 shares to our current CEO and Chairman, Andrew Reid in payment for services.
In April, 2011, we issued 1.5 million shares to a consultant for services.
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