Blue Water Petroleum Corp.
CIK:0001502772|SEC Filings
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1. Nature of Business and Continuance of Operations (Details) (USD $)
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Apr. 30, 2014
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| Disclosure Text Block [Abstract] | |
| Retained Earnings (Accumulated Deficit) | $ 1,179,044 |
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Blue Water Petroleum Corp. - Consolidated Statements of Cash Flows (USD $)
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9 Months Ended | |
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Apr. 30, 2014
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Apr. 30, 2013
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| Net loss | $ (574,629) | $ (32,301) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 1,371 | 1,373 |
| Imputed interest | 5,330 | 4,261 |
| Stock-based compensation | 265,626 | |
| Accounts payable and accrued liabilities | 30,959 | (1,664) |
| Net cash used in operating activities | (271,343) | (28,331) |
| Cash paid for drilling activities | (98,919) | |
| Net cash used in investing activities | (98,919) | |
| Cash flows from financing activities | ||
| Advances from related parties | 1,000 | (1,036) |
| Proceeds from loans payable | 330,000 | 28,374 |
| Net cash provided by financing activities | 331,000 | 27,338 |
| Decrease in cash | (39,262) | (993) |
| Cash - beginning of period | 39,841 | 1,572 |
| Cash - end of period | 579 | 579 |
| Supplemental cash flows information: | ||
| Interest paid | 0 | 0 |
| Income taxes paid | 0 | 0 |
| Non cash transaction | ||
| Liabilities accrued for oil & gas properties | $ 234,885 | $ 234,885 |