General form of registration statement for all companies including face-amount certificate companies

Consolidated Balance Sheets

v2.3.0.11
Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Current Assets:      
Cash and equivalents $ 631,756 $ 219,566 $ 15,990
Receivable from DNR Oil and Gas Inc.:      
Oil and gas sales, net of production costs 163,111 165,283  
Other 26,471 15,597 12,625
Prepaid expenses and other 169,432 207,338 85,139
Total Current Assets 990,770 607,784 113,754
Oil and gas properties, at cost, successful efforts method:      
Proved properties 8,749,536 9,056,032  
Unproved/Unevaluated properties 291,776 287,728  
Natural gas gathering system 442,195 442,195 442,195
Furniture and equipment 22,522 22,522 19,662
Total property and equipment 9,506,029 9,808,477 461,857
Less accumulated depreciation, depletion and amortization (661,659) (525,154) (184,121)
Net Property and Equipment 8,844,370 9,283,323 277,736
TOTAL ASSETS 9,835,140 9,891,107 391,490
Receivable from DNR Oil & Gas, Inc.:      
Oil and gas property acquisition costs 250,000 826,791  
Gas gathering operating costs 436,403 416,835 402,558
Operator fees and other 151,748 151,748 117,518
Unrelated parties 29,297 92,019 60,029
Preferred stock dividends payable 391,875    
Notes and advances payable:      
Directors 235,069 109,319 704,475
Unrelated parties 250,000 250,000  
Accrued interest expense 99,109 88,303 152,943
Director fees payable 120,000 90,000 98,000
Commissions payable/Finders fee payable for private placement of preferred stock 105,000 105,000  
Accrued payroll taxes     111,690
Accrued consulting services payable in common stock 63,750 18,750 536,528
Current portion of asset retirement obligations 15,421 15,398  
Other accrued costs and expenses 202,930 111,061 40,596
Total Current Liabilities 2,350,602 2,275,224 2,224,337
Asset Retirement Obligations, net of current portion 623,474 637,842  
Total Liabilities 2,974,076 2,913,066 2,224,337
Commitments and Contingencies (Notes 3, 4 and 10)      
Stockholders' Equity (Deficit)      
Common stock, no par value; authorized 499,000,000 shares, issued and outstanding 4,972,635 in 2010 and 7,764,476 in 2011 16,904,154 16,904,154 13,611,903
Accumulated deficit (15,066,461) (14,949,484) (15,444,750)
Total Stockholders' Equity (Deficit) 6,861,064 6,978,041 (1,832,847)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) 9,835,140 9,891,107 391,490
Class A Preferred Stock
     
Stockholders' Equity (Deficit)      
Preferred stock value      
Series One Preferred Stock
     
Stockholders' Equity (Deficit)      
Preferred stock value 5,023,371 5,023,371  
Series Two Preferred Stock
     
Stockholders' Equity (Deficit)      
Preferred stock value