10-K Filing

CHELSEA OIL & GAS LTD. CIK: 1061288 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0000909012-12-000217`
Period End Date	20111231
Filing Date	20120412
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	aucaf-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 40 Cash Flow Statement 43 Stockholders Equity 16

Balance Sheet 61 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
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$28.55K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$6.26K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$28.99K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$28.40K	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$56.95K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$31.34K	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`	22.71M	shares	Point-in-time
Common stock shares issued	`CommonStockSharesIssued`	20.05M	shares	Point-in-time
Oil and gas properties-being amortized	`OilAndGasPropertyFullCostMethodNet`	$556.53K	USD	Point-in-time
Oil and gas properties-being amortized	`OilAndGasPropertyFullCostMethodNet`	$556.53K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	20.05M	shares	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	22.71M	shares	Point-in-time
Oil and gas properties-not being amortized	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$591.34K	USD	Point-in-time
Oil and gas properties-not being amortized	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$621.94K	USD	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 depletion and depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$241.53K	USD	Point-in-time
Accumulated depletion and depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$216.77K	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$961.73K	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$955.88K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$207.59K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.08K	USD	Point-in-time
Other	`OtherAssetsNoncurrent`	$1.08K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$1.08K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$208.68K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.23M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$988.30K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$5.62K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$11.24K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$39.22K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$52.79K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$115.49K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$41.66K	USD	Point-in-time
Loans from stockholders	`DueToOfficersOrStockholdersCurrent`	$243.50K	USD	Point-in-time
Loans from stockholders	`DueToOfficersOrStockholdersCurrent`	$51.27K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$217.21K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$343.56K	USD	Point-in-time
Preferred stock, no par (50,000,000 shares authorized, none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par (50,000,000 shares authorized, none outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par (50,000,000 shares authorized, 22,705,680 and 20,048,284 shares respectively outstanding)	`CommonStockValue`	$4.12M	USD	Point-in-time
Common stock, no par (50,000,000 shares authorized, 22,705,680 and 20,048,284 shares respectively outstanding)	`CommonStockValue`	$3.75M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$176.75K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$173.55K	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.15M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.41M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$867.20K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$771.09K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$883.79K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.23M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$988.30K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Oil and gas revenues	`OilAndGasRevenue`	$77.65K	USD	Annual
Oil and gas revenues	`OilAndGasRevenue`	$125.73K	USD	Annual
Transportation costs	`ShippingHandlingAndTransportationCosts`	$17.28K	USD	Annual
Transportation costs	`ShippingHandlingAndTransportationCosts`	$11.07K	USD	Annual
Production taxes	`ProductionTaxExpense`	$71.00	USD	Annual
Production taxes	`ProductionTaxExpense`	$89.00	USD	Annual
Depletion	`DepletionOfOilAndGasProperties`	$24.38K	USD	Annual
Depletion	`DepletionOfOilAndGasProperties`	$44.74K	USD	Annual
GROSS PROFIT	`GrossProfit`	$21.75K	USD	Annual
GROSS PROFIT	`GrossProfit`	$83.99K	USD	Annual
Personnel costs	`SalariesAndWages`	$58.05K	USD	Annual
Personnel costs	`SalariesAndWages`	$149.43K	USD	Annual
Professional fees	`ProfessionalFees`	$83.16K	USD	Annual
Professional fees	`ProfessionalFees`	$75.64K	USD	Annual
Promotion and advertising	`SellingAndMarketingExpense`	$11.15K	USD	Annual
Promotion and advertising	`SellingAndMarketingExpense`	$25.75K	USD	Annual
Office expenses	`OtherGeneralAndAdministrativeExpense`	$5.59K	USD	Annual
Office expenses	`OtherGeneralAndAdministrativeExpense`	$5.24K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$370.00	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$370.00	USD	Annual
Gain (loss) on foreign exchange	`ForeignCurrencyTransactionGainLossBeforeTax`	$-8.37K	USD	Annual
Directors' fees and other operating expenses	`OfficersCompensation`	$5.88K	USD	Annual
Directors' fees and other operating expenses	`OfficersCompensation`	$52.51K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$324.82K	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$156.69K	USD	Annual
(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-134.93K	USD	Annual
(LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-240.84K	USD	Annual
Interest income	`InterestIncomeExpenseNonoperatingNet`	$1.63K	USD	Annual
Interest expense	`InterestExpenseDebt`	$2.35K	USD	Annual
Interest expense	`InterestExpenseDebt`	$5.15K	USD	Annual
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-137.28K	USD	Annual
(LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-244.36K	USD	Annual
Australian income tax expense	`IncomeTaxExpenseBenefit`	$17.93K	USD	Annual
Australian income tax expense	`IncomeTaxExpenseBenefit`	$10.03K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-262.28K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-147.31K	USD	Annual
Net loss per weighted average shares outstanding	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Net loss per weighted average shares outstanding	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	21.10M	shares	Annual
Weighted average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	19.77M	shares	Annual

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-262.28K	USD	Annual
Net (loss)	`NetIncomeLoss`	$-147.31K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$24.75K	USD	Annual
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$45.11K	USD	Annual
Value of expenses contributed by officers	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$-3.20K	USD	Annual
Value of expenses contributed by officers	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$-3.20K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$10.00K	USD	Annual
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$179.78K	USD	Annual
Stock issued for directors' and officers' fees	`StockIssuedDuringPeriodValueOther`	$-13.00K	USD	Annual
Stock issued for directors' and officers' fees	`StockIssuedDuringPeriodValueOther`	$-68.00K	USD	Annual
Changes in receivables	`IncreaseDecreaseInAccountsReceivable`	$19.84K	USD	Annual
Changes in receivables	`IncreaseDecreaseInAccountsReceivable`	$-594.00	USD	Annual
Changes in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$17.42K	USD	Annual
Changes in accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-73.83K	USD	Annual
Changes in accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$-5.63K	USD	Annual
Changes in accounts payable-trade	`IncreaseDecreaseInAccountsPayableTrade`	$10.29K	USD	Annual
Changes in accounts payable-related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$13.58K	USD	Annual
Changes in accounts payable-related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$39.22K	USD	Annual
NET CASH (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-51.84K	USD	Annual
NET CASH (USED) IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-28.92K	USD	Annual
Restricted cash	`ProceedsFromRepaymentsOfRestrictedCashFinancingActivities`	$-207.59K	USD	Annual
Purchase of oil & gas properties	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$30.60K	USD	Annual
Purchase of oil & gas properties	`PaymentsToAcquireOilAndGasPropertyAndEquipment`	$26.67K	USD	Annual
NET CASH PROVIDED BY (USED) IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-26.27K	USD	Annual
NET CASH PROVIDED BY (USED) IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-238.19K	USD	Annual
Proceeds from sale of stock	`ProceedsFromIssuanceOfCommonStock`	$124.00K	USD	Annual
Proceeds from sale of stock	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	Annual
Proceeds from notes payable to stockholder	`ProceedsFromRelatedPartyDebt`	$218.50K	USD	Annual
Proceeds from notes payable to stockholder	`ProceedsFromRelatedPartyDebt`	$26.27K	USD	Annual
Payment of notes payable to stockholder	`RepaymentsOfRelatedPartyDebt`	$26.27K	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$51.27K	USD	Annual
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$316.23K	USD	Annual
Increase (Decrease) in cash for year	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$26.21K	USD	Annual
Increase (Decrease) in cash for year	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.92K	USD	Annual
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$28.55K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash and cash equivalents, beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$6.26K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$28.55K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$2.35K	USD	Point-in-time
Cash and cash equivalents, end of year	`CashAndCashEquivalentsAtCarryingValue`	$6.26K	USD	Point-in-time
Interest paid	`InterestPaid`	$2.75K	USD	Annual
Australian income taxes paid	`IncomeTaxesPaid`	$10.03K	USD	Annual
Australian income taxes paid	`IncomeTaxesPaid`	$17.17K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$867.20K	USD	Point-in-time
Balance	`StockholdersEquity`	$771.09K	USD	Point-in-time
Balance	`StockholdersEquity`	$883.79K	USD	Point-in-time
Non-cash stock issuances: Services	`ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity`	$10.00K	USD	Annual
Non-cash stock issuances: Services	`ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity`	$179.79K	USD	Annual
Non-cash stock issuances: Directors' fees	`NonCashStockIssuancesDirectorsFees`	$68.00K	USD	Annual
Non-cash stock issuances: Directors' fees	`NonCashStockIssuancesDirectorsFees`	$13.00K	USD	Annual
Non-cash stock issuances: Sale of stock	`StockIssuedDuringPeriodValueNewIssues`	$124.00K	USD	Annual
Non-cash stock issuances: Sale of stock	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Annual
Contributed expenses	`AdjustmentsToAdditionalPaidInCapitalOther`	$3.20K	USD	Annual
Contributed expenses	`AdjustmentsToAdditionalPaidInCapitalOther`	$3.20K	USD	Annual
Net loss	`NetIncomeLoss`	$-262.28K	USD	Annual
Net loss	`NetIncomeLoss`	$-147.31K	USD	Annual
Balance	`StockholdersEquity`	$867.20K	USD	Point-in-time
Balance	`StockholdersEquity`	$771.09K	USD	Point-in-time
Balance	`StockholdersEquity`	$883.79K	USD	Point-in-time

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