10-Q Filing

CHELSEA OIL & GAS LTD. CIK: 1061288 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0000909012-11-000573`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	aucaf-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 72 Cash Flow Statement 42

Balance Sheet 59 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$61.44K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.26K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$11.53K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$28.99K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$25.57K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$31.34K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$87.00K	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	20.04M	shares	Point-in-time
Oil and gas properties-being amortized	`OilAndGasPropertyFullCostMethodNet`	$582.79K	USD	Point-in-time
Oil and gas properties-being amortized	`OilAndGasPropertyFullCostMethodNet`	$594.29K	USD	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	21.70M	shares	Point-in-time
Oil and gas properties-not being amortized	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$565.08K	USD	Point-in-time
Oil and gas properties-not being amortized	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$565.08K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	21.70M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	20.04M	shares	Point-in-time
Office equipment and software	`OfficeEquipmentAndSoftware`	$24.78K	USD	Point-in-time
Office equipment and software	`OfficeEquipmentAndSoftware`	$24.78K	USD	Point-in-time
Accumulated depreciation and depletion	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$250.60K	USD	Point-in-time
Accumulated depreciation and depletion	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$216.77K	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$933.55K	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$955.88K	USD	Point-in-time
Investment in equity method investee	`EquityMethodInvestments`	$1.08K	USD	Point-in-time
Investment in equity method investee	`EquityMethodInvestments`	$1.08K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.02M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$988.30K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$11.24K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$4.81K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$40.25K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$39.22K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$115.49K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$191.43K	USD	Point-in-time
Loans from officers	`NotesPayableRelatedPartiesClassifiedCurrent`	$25.00K	USD	Point-in-time
Loans from officers	`NotesPayableRelatedPartiesClassifiedCurrent`	$25.00K	USD	Point-in-time
Loans from stockholders	`DueToOfficersOrStockholdersCurrent`	$26.27K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$217.21K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$261.50K	USD	Point-in-time
Preferred stock no par value (50,000,000 shares authorized none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock no par value (50,000,000 shares authorized none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par (50,000,000 shares authorized 21,700,825 and 20,038,284 shares, respectively, issued and outstanding)	`CommonStockValue`	$3.75M	USD	Point-in-time
Common stock, no par (50,000,000 shares authorized 21,700,825 and 20,038,284 shares, respectively, issued and outstanding)	`CommonStockValue`	$3.93M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$173.55K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$175.95K	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.35M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.15M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$771.09K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$760.14K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.02M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$988.30K	USD	Point-in-time

Income Statement 72 line items

Line Item	Tag	Value	Unit	Period
OIL AND GAS REVENUES	`OilAndGasRevenue`	$52.69K	USD	3 Qtrs
OIL AND GAS REVENUES	`OilAndGasRevenue`	$81.98K	USD	3 Qtrs
OIL AND GAS REVENUES	`OilAndGasRevenue`	$38.90K	USD	1 Quarter
OIL AND GAS REVENUES	`OilAndGasRevenue`	$34.71K	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$70.00	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$71.00	USD	3 Qtrs
Production taxes	`ProductionTaxExpense`	$90.00	USD	3 Qtrs
Depletion	`DepletionOfOilAndGasProperties`	$33.55K	USD	3 Qtrs
Depletion	`DepletionOfOilAndGasProperties`	$3.69K	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$11.09K	USD	3 Qtrs
Depletion	`DepletionOfOilAndGasProperties`	$11.18K	USD	1 Quarter
Transportation costs	`ShippingHandlingAndTransportationCosts`	$3.58K	USD	1 Quarter
Transportation costs	`ShippingHandlingAndTransportationCosts`	$2.40K	USD	1 Quarter
Transportation costs	`ShippingHandlingAndTransportationCosts`	$3.66K	USD	3 Qtrs
Transportation costs	`ShippingHandlingAndTransportationCosts`	$11.72K	USD	3 Qtrs
GROSS PROFIT/LOSS	`GrossProfit`	$19.94K	USD	1 Quarter
GROSS PROFIT/LOSS	`GrossProfit`	$32.74K	USD	1 Quarter
GROSS PROFIT/LOSS	`GrossProfit`	$37.85K	USD	3 Qtrs
GROSS PROFIT/LOSS	`GrossProfit`	$36.63K	USD	3 Qtrs
Personnel costs	`SalariesAndWages`	$35.38K	USD	3 Qtrs
Personnel costs	`SalariesAndWages`	$41.44K	USD	1 Quarter
Personnel costs	`SalariesAndWages`	$18.41K	USD	1 Quarter
Personnel costs	`SalariesAndWages`	$107.43K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$-2.36K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$43.44K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$5.84K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$35.63K	USD	3 Qtrs
Promotion and advertising	`SellingAndMarketingExpense`	$8.60K	USD	3 Qtrs
Promotion and advertising	`SellingAndMarketingExpense`	$21.77K	USD	3 Qtrs
Promotion and advertising	`SellingAndMarketingExpense`	$2.36K	USD	1 Quarter
Promotion and advertising	`SellingAndMarketingExpense`	$10.76K	USD	1 Quarter
Office expenses	`OtherGeneralAndAdministrativeExpense`	$3.03K	USD	3 Qtrs
Office expenses	`OtherGeneralAndAdministrativeExpense`	$977.00	USD	1 Quarter
Office expenses	`OtherGeneralAndAdministrativeExpense`	$3.85K	USD	3 Qtrs
Office expenses	`OtherGeneralAndAdministrativeExpense`	$1.14K	USD	1 Quarter
Depreciation	`Depreciation`	$93.00	USD	1 Quarter
Depreciation	`Depreciation`	$278.00	USD	3 Qtrs
Depreciation	`Depreciation`	$278.00	USD	3 Qtrs
Depreciation	`Depreciation`	$93.00	USD	1 Quarter
Directors' fees and other	`OfficersCompensation`	$15.81K	USD	3 Qtrs
Directors' fees and other	`OfficersCompensation`	$52.52K	USD	3 Qtrs
Directors' fees and other	`OfficersCompensation`	$4.35K	USD	1 Quarter
Directors' fees and other	`OfficersCompensation`	$14.85K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$106.53K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$42.54K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$55.42K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$221.49K	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-184.85K	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-9.79K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-35.48K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-68.68K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$394.00	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$1.15K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$2.75K	USD	3 Qtrs
Interest expense	`InterestExpenseDebt`	$416.00	USD	1 Quarter
NET LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.19K	USD	1 Quarter
NET LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-35.90K	USD	1 Quarter
NET LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-187.61K	USD	3 Qtrs
NET LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-69.83K	USD	3 Qtrs
Australian income taxes	`IncomeTaxExpenseBenefit`	$-7.43K	USD	3 Qtrs
Australian income taxes	`IncomeTaxExpenseBenefit`	$-10.74K	USD	3 Qtrs
Australian income taxes	`IncomeTaxExpenseBenefit`	$-4.46K	USD	1 Quarter
Australian income taxes	`IncomeTaxExpenseBenefit`	$-2.83K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-77.26K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-14.65K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-198.35K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-38.73K	USD	1 Quarter
BASIC (LOSS) PER COMMON SHARE	`EarningsPerShareBasic`	$-0.01	USD	3 Qtrs
Weighted Average Number of Common Shares Outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	21.34M	shares	1 Quarter
Weighted Average Number of Common Shares Outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	20.61M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.69M	shares	3 Qtrs
Weighted Average Number of Common Shares Outstanding: Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	19.92M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-77.26K	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-14.65K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-198.35K	USD	3 Qtrs
Net (loss)	`NetIncomeLoss`	$-38.73K	USD	1 Quarter
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$33.83K	USD	3 Qtrs
Depreciation and depletion	`DepreciationDepletionAndAmortization`	$11.36K	USD	3 Qtrs
Value of expenses contributed by officers	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$-2.40K	USD	3 Qtrs
Value of expenses contributed by officers	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$-2.40K	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$10.00K	USD	3 Qtrs
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$25.00K	USD	3 Qtrs
Stock issued for director fees	`StockIssuedDuringPeriodValueOther`	$-36.00K	USD	3 Qtrs
Stock issued for director fees	`StockIssuedDuringPeriodValueOther`	$-13.00K	USD	3 Qtrs
Changes in receivables	`IncreaseDecreaseInAccountsReceivable`	$5.31K	USD	3 Qtrs
Changes in receivables	`IncreaseDecreaseInAccountsReceivable`	$-3.43K	USD	3 Qtrs
Changes in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$26.07K	USD	3 Qtrs
Changes in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$70.55K	USD	3 Qtrs
NET CASH USED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-27.14K	USD	3 Qtrs
NET CASH USED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-19.73K	USD	3 Qtrs
Acquisition of oil and gas properties	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$26.27K	USD	3 Qtrs
Acquisition of oil and gas properties	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$11.50K	USD	3 Qtrs
NET CASH FLOWS USED BY INVESTING ACTIVITIES:	`NetCashProvidedByUsedInInvestingActivities`	$-26.27K	USD	3 Qtrs
NET CASH FLOWS USED BY INVESTING ACTIVITIES:	`NetCashProvidedByUsedInInvestingActivities`	$-11.50K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$124.00K	USD	3 Qtrs
Proceeds from notes payable to related parties	`ProceedsFromRelatedPartyDebt`	$26.27K	USD	3 Qtrs
Payment of notes payable to related parties	`RepaymentsOfRelatedPartyDebt`	$26.27K	USD	3 Qtrs
NET CASH FLOWS FROM FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$51.27K	USD	3 Qtrs
NET CASH FLOWS FROM FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$97.73K	USD	3 Qtrs
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$59.09K	USD	3 Qtrs
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.26K	USD	3 Qtrs
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$61.44K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.26K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$11.53K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$61.44K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$6.26K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash, End of Period	`CashAndCashEquivalentsAtCarryingValue`	$11.53K	USD	Point-in-time
Interest paid	`InterestPaid`	$2.75K	USD	3 Qtrs
Interest paid	`InterestPaid`	$1.15K	USD	3 Qtrs
Income taxes paid - Australian	`IncomeTaxesPaid`	$10.74K	USD	3 Qtrs
Income taxes paid - Australian	`IncomeTaxesPaid`	$7.43K	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.