10-Q Filing

CHELSEA OIL & GAS LTD. CIK: 1061288 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0000909012-12-000287`
Period End Date	20120331
Filing Date	20120521
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	aucaf-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 37 Cash Flow Statement 30

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash	`Cash`	$2.35K	USD	Point-in-time
Cash	`Cash`	$1.59M	USD	Point-in-time
Cash	`Cash`	$8.30K	USD	Point-in-time
Cash	`Cash`	$28.55K	USD	Point-in-time
Preferred stock par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$28.40K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$30.16K	USD	Point-in-time
Preferred stock shares authorized	`PreferredStockSharesAuthorized`	50.00M	shares	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`	$1.62M	USD	Point-in-time
Preferred stock shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Oil and gas properties-being amortized	`OilAndGasPropertyFullCostMethodNet`	$556.53K	USD	Point-in-time
Oil and gas properties-being amortized	`OilAndGasPropertyFullCostMethodNet`	$8.62M	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
Oil and gas properties-not being amortized	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$621.94K	USD	Point-in-time
Oil and gas properties-not being amortized	`CapitalizedCostsOfUnprovedPropertiesExcludedFromAmortizationCumulative`	$621.94K	USD	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`	49.96M	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
Common stock shares outstanding	`CommonStockSharesOutstanding`	49.96M	shares	Point-in-time
Accumulated depreciation and depletion	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$247.63K	USD	Point-in-time
Common stock shares outstanding	`CommonStockSharesOutstanding`	22.71M	shares	Point-in-time
Accumulated depreciation and depletion	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$241.53K	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$9.02M	USD	Point-in-time
Net Property and Equipment	`PropertyPlantAndEquipmentNet`	$961.73K	USD	Point-in-time
Restricted Cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$207.59K	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`	$208.68K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$208.68K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$10.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$1.23M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$43.43K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableCurrent`	$5.62K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$52.79K	USD	Point-in-time
Accounts payable - related party	`AccountsPayableRelatedPartiesCurrent`	$116.49K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$41.66K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$215.76K	USD	Point-in-time
Loans from stockholders	`DueToOfficersOrStockholdersCurrent`	$243.50K	USD	Point-in-time
Loans from stockholders	`DueToOfficersOrStockholdersCurrent`	$243.50K	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$3.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$343.56K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.62M	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, 49,960,000 and 22,705,680 shares in 2012 and 2011 issued and outstanding)	`CommonStockValue`	$4.12M	USD	Point-in-time
Common stock, no par (50,000,000 shares authorized, 49,960,000 and 22,705,680 shares in 2012 and 2011 issued and outstanding)	`CommonStockValue`	$10.82M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$176.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$-113.30K	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.48M	USD	Point-in-time
Accumulated (deficit)	`RetainedEarningsAccumulatedDeficit`	$-3.41M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$883.79K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$7.23M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$10.85M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.23M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
OIL AND GAS REVENUES	`OilAndGasRevenue`	$19.78K	USD	1 Quarter
OIL AND GAS REVENUES	`OilAndGasRevenue`	$33.10K	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$38.00	USD	1 Quarter
Production taxes	`ProductionTaxExpense`	$25.00	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$6.10K	USD	1 Quarter
Depletion	`DepletionOfOilAndGasProperties`	$11.18K	USD	1 Quarter
Transportation costs	`ShippingHandlingAndTransportationCosts`	$5.03K	USD	1 Quarter
Transportation costs	`ShippingHandlingAndTransportationCosts`	$173.00	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$13.48K	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$16.85K	USD	1 Quarter
Personnel costs	`SalariesAndWages`	$32.05K	USD	1 Quarter
Personnel costs	`SalariesAndWages`	$16.22K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$44.24K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$9.91K	USD	1 Quarter
Promotion and advertising	`SellingAndMarketingExpense`	$8.92K	USD	1 Quarter
Promotion and advertising	`SellingAndMarketingExpense`	$5.72K	USD	1 Quarter
Office expenses	`OtherGeneralAndAdministrativeExpense`	$4.03K	USD	1 Quarter
Office expenses	`OtherGeneralAndAdministrativeExpense`	$1.29K	USD	1 Quarter
Depreciation	`Depreciation`	$92.00	USD	1 Quarter
Directors' fees and other	`OfficersCompensation`	$77.00	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$49.15K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$73.41K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-32.30K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-59.92K	USD	1 Quarter
Interest income	`InterestIncomeExpenseNonoperatingNet`	$2.89K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$1.16K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$9.45K	USD	1 Quarter
NET LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-66.49K	USD	1 Quarter
NET LOSS BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-33.46K	USD	1 Quarter
Australian income taxes	`IncomeTaxExpenseBenefit`	$3.39K	USD	1 Quarter
Australian income taxes	`IncomeTaxExpenseBenefit`	$7.51K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-40.97K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-69.88K	USD	1 Quarter
BASIC (LOSS) PER COMMON SHARE	`EarningsPerShareBasic`	-	USD	1 Quarter
BASIC (LOSS) PER COMMON SHARE	`EarningsPerShareBasic`	-	USD	1 Quarter
Weighted average number of common shares outstanding:	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	20.06M	shares	1 Quarter
Weighted average number of common shares outstanding:	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.79M	shares	1 Quarter

Cash Flow Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net (loss)	`NetIncomeLoss`	$-40.97K	USD	1 Quarter
Net (loss)	`NetIncomeLoss`	$-69.88K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$6.10K	USD	1 Quarter
Depreciation, depletion and amortization	`DepreciationDepletionAndAmortization`	$11.28K	USD	1 Quarter
Value of expenses contributed by officers	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$-800.00	USD	1 Quarter
Stock issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$14.00K	USD	1 Quarter
Changes in receivables	`IncreaseDecreaseInAccountsReceivable`	$1.76K	USD	1 Quarter
Changes in receivables	`IncreaseDecreaseInAccountsReceivable`	$-4.52K	USD	1 Quarter
Changes in advanced from a related party	`IncreaseDecreaseInDueFromRelatedParties`	$-63.70K	USD	1 Quarter
Changes in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$211.91K	USD	1 Quarter
Changes in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$16.33K	USD	1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$210.08K	USD	1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$5.96K	USD	1 Quarter
Net proceeds from sale of common stock	`StockIssued`	$1.63M	USD	1 Quarter
Acquisition of oil interests	`PaymentsToAcquireOilAndGasProperty`	$275.75K	USD	1 Quarter
NET INCREASE IN CASH	`CashPeriodIncreaseDecrease`	$1.56M	USD	1 Quarter
NET INCREASE IN CASH	`CashPeriodIncreaseDecrease`	$5.96K	USD	1 Quarter
Cash, Beginning of Period	`Cash`	$2.35K	USD	Point-in-time
Cash, Beginning of Period	`Cash`	$1.59M	USD	Point-in-time
Cash, Beginning of Period	`Cash`	$8.30K	USD	Point-in-time
Cash, Beginning of Period	`Cash`	$28.55K	USD	Point-in-time
Cash, End of Period	`Cash`	$2.35K	USD	Point-in-time
Cash, End of Period	`Cash`	$1.59M	USD	Point-in-time
Cash, End of Period	`Cash`	$8.30K	USD	Point-in-time
Cash, End of Period	`Cash`	$28.55K	USD	Point-in-time
Australian income taxes paid	`IncomeTaxesPaid`	$7.51K	USD	1 Quarter
Australian income taxes paid	`IncomeTaxesPaid`	$3.39K	USD	1 Quarter
Surat Basin acquisition	`SuratBasinAcquisition`	$7.79M	USD	1 Quarter
Notes payable	`NotesPayable1`	$3.00M	USD	1 Quarter
Common stock	`CommonStock`	$4.79M	USD	1 Quarter

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