NOTE 3. GOING CONCERN
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6 Months Ended |
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Jun. 30, 2013
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Going Concern Disclosure [Abstract] | |
Going Concern Disclosure [Text Block] |
NOTE
3. GOING CONCERN
The
Company has suffered recurring losses from operations. These
conditions raise substantial doubt about the Company’s
ability to continue as a going concern. The
Company plans to generate profits by drilling productive oil
or gas wells. However, the Company will need to
raise the funds required to drill new wells through the sale
of its securities,
through loans from third parties or from third parties
willing to pay the Company’s share of drilling and
completing the wells. The Company does not
have any commitments or arrangements from any person to
provide the Company with any additional
capital. If
additional financing is not available when needed, the
Company may need to cease operations. The Company
may not be successful in raising the capital needed to drill
oil or gas wells. Any wells which the Company may
drill may not be productive of oil or
gas. Management believes that actions presently
being taken to obtain additional funding provide the
opportunity for the Company to continue as a going
concern. We have plans to finance our
activities through private offerings of our securities,
issuance of corporate bonds and/or joint venture
agreements. The
accompanying financial statements have been prepared assuming
the Company will continue as a going concern; no adjustments
to the financial statements have been made to account for
this uncertainty.
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