Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Balance Sheets

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Interim Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash $ 13,735 $ 1,345
Accounts receivable 10,248  
Other receivable - joint venture 76,719  
Total Current Assets 100,702 $ 1,345
Long term investment 55,906 68,128
Petroleum and natural gas rights 432,326 $ 355,168
Loan costs 6,208  
TOTAL ASSETS 595,142 $ 424,641
CURRENT LIABILITIES    
Other payable 59,170 116,149
Accounts payable 58,831 $ 39,314
Derivative liability 141,566  
Amount due to director 392,729 $ 326,439
Convertible notes 43,241  
TOTAL LIABILITIES 695,537 $ 481,902
STOCKHOLDERS' DEFICIENCY    
Preferred stock, $0.001 par value, 5,000,000 shares authorized, 28,092 shares issued and outstanding as of June 30, 2015 and December 31, 2014 28 28
Common stock, $0.001 par value, 100,000,000 shares Authorized, 25,489,551 shares issued and outstanding as of June 30, 2015, and 24,094,551 shares issued and outstanding as of December 31, 2014 25,490 24,095
Shares to be issued 3,294 675
Additional Paid-In Capital 7,521,723 7,162,660
Deficit (7,461,256) (7,067,267)
Accumulated other comprehensive income (189,674) (177,452)
TOTAL STOCKHOLDERS' DEFICIENCY (100,395) (57,261)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 595,142 $ 424,641