|
FY2012
12 months to Dec 31, 2012
|
FY2011
12 months to Dec 31, 2011
|
|
|---|---|---|
| Cash flows from operating activities | ||
| Net loss for the period | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock-based compensation (notes 8 and 9) | ||
| Surrendered oil and gas property interests | ||
| Surrendered oil and gas property interests (note 6) | ||
| Gain on extinguishment of debt | ||
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in prepaid expenses | ||
| (Increase) decrease in other current assets | ||
| Increase (decrease) in accounts payable | ||
| Decrease in accrued liabilities | ||
| Increase in accrued interest | ||
| Net cash used in operating activities | ||
| Cash flows from financing activities | ||
| Issuance of capital stock and warrants for cash (note 10) | ||
| Issuance of capital stock upon exercise of warrants | ||
| Proceeds from note payable to stockholder | ||
| Net cash provided by financing activities | ||
| Increase (decrease) in cash | ||
| Cash at beginning of period | ||
| Cash at end of period | ||
| Supplemental disclosure of cash flow information: | ||
| Interest paid in cash | ||
| Supplemental disclosure of non-cash transactions: | ||
| Issuance of common stock for property option |
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