Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statement Of Cash Flows (Unaudited)

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Interim Consolidated Statement Of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:      
Net loss $ (120,540) $ (393,989) $ (320,947)
Derivative loss 49,414 $ 5,542 49,414
Change in fair value of convertible note     43,105
Gain on extinguishment of debt $ (1,094)   (1,232)
Stock based compensation   $ 108,000 15,000
Amortization   6,792 $ 5,053
Amortization of debt discount   43,241  
(Increase) decrease in accounts receivable   (10,248)  
Increase (decrease) in other payables   70,822 $ 30,642
Increase in accrual expenses   19,517 (31,800)
Decrease (increase) in other receivables   (76,719) 9,641
Net cash used in operating activities   (227,042) $ (201,124)
Cash flows from investing activities:      
Investment in petroleum and natural gas rights   (77,158)  
Net cash used in investing activities   (77,158)  
Cash flows from financing activities:      
Amount due to Director   222,391 $ 137,363
Payment of investment obligation   (52,801)  
Proceeds from convertible notes   211,000 $ 53,000
Repayment of convertible notes   (64,000)  
Net cash provided by financing activities   $ 316,590 $ 190,363
Effect of exchange rate changes on cash     51
Net increase/(decrease) in cash   $ 12,390 (10,710)
Cash, beginning of year   1,345 12,239
Cash, ending of year $ 1,529 13,735 $ 1,529
Supplemental Cash Flow Information      
Cash paid for: Interest   $ 10,442  
Cash paid for: Income taxes      
Non-Cash transactions:      
Conversion of convertible note     $ 16,000
Stock based compensation   $ 108,000 $ 15,000
Stock issued for debt   $ 227,807