DELTA OIL & GAS INC

CIK:0001166847|SEC Filings

OPERATIONS (Details Narrative) (USD $)	57 Months Ended
OPERATIONS (Details Narrative) (USD $)	Sep. 30, 2014
Operations Details Narrative
Net loss since inception	$ 7,651,869

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash Flows From Operating Activities:
Net loss for the periods	$ (487,470)	$ (346,246)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion	2,690	2,529
Depreciation and depletion	428,523	177,653
Stock-based compensation expense		51,837
Shares issued for services		25,500
Changes in operating assets and liabilities:
Accounts receivable	(17,453)	42,228
Accounts payable and accrued liabilities	(32,474)	43,481
Restricted cash	391,020
Project cost advance received	(225,897)
Prepaid expenses	(367)	(8,009)
Net Cash Generated/(Used) In Operating Activities	58,572	(11,027)
Cash Flows From Investing Activities:
Sale proceeds of natural gas and oil working interests	100,000
Investment in natural gas and oil working interests	(312,043)	(16,544)
Net Cash (Used)/Generated In Investing Activities	(212,043)	(16,544)
Cash Flows From Financing Activities:
Proceeds from issuance of common shares		16,000
Payment on promissory note	(18,804)	(690)
Proceeds from security loan	123,298
Payment of security loan	(76,863)
Net Cash Generated in Financing Activities	27,631	15,310
Net Decrease In Cash And Cash Equivalents	(125,840)	(12,261)
Effect of Foreign Currency Adjustments on Cash	(2,916)	(598)
Cash And Cash Equivalents at Beginning of the Periods	142,647	35,507
Cash And Cash Equivalents at End of the Periods	$ 13,891	$ 22,648
Supplemental Disclosures of Non-Cash, Investing and Financing Activities
300,000 shares issued to the President, CFO and CEO as part of their compensation package		25,500

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
Current
Cash and cash equivalents	$ 13,891	$ 142,647
Restricted cash	53	391,073
Accounts receivable	50,437	32,984
Prepaid expenses	1,393	1,026
Total Current Assets	65,774	567,730
Natural Gas And Oil Properties
Proved property	206,989	347,318
Unproved property	84,587	160,738
Total Other Assets	291,576	508,056
Property, Plant And Equipment (Net)
TOTAL ASSETS	357,350	1,075,786
Current
Accounts payable and accrued liabilities	24,113	56,587
Project cost advanced received	16,654	242,551
Promissory note payable		18,804
Security loans	201,435	155,000
Total Current Liabilities	242,202	472,942
Long Term
Asset retirement obligation	32,571	29,881
TOTAL LIABILITIES	274,773	502,823
Share Capital
Preferred Shares, $0.001 par value; authorized 25,000,000; none issued
Common Shares, $0.001 par value; authorized 100,000,000; 15,193,241 shares issued and outstanding, respectively	15,193	15,193
Additional paid-in capital	7,580,783	7,580,783
Accumulative Other Comprehensive Income	138,470	141,386
Accumulated Deficit	(7,651,869)	(7,164,399)
TOTAL STOCKHOLDERS' EQUITY	82,577	572,963
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 357,350	$ 1,075,786