NOTE 3. GOING CONCERN
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12 Months Ended |
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Dec. 31, 2012
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Liquidity Disclosure [Policy 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. We
plan to generate profits by drilling productive oil or gas
wells. However, we will need to raise the funds
required to drill new wells through the sale of our
securities, through loans from third parties or from third
parties willing to pay our share of drilling and completing
the wells. We do not have any commitments or
arrangements from any person to provide us with any
additional capital. If additional financing is
not available when needed, we may need to cease
operations. We may not be successful in raising
the capital needed to drill oil or gas
wells. Any wells which we 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. 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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