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Homeland Resources Ltd. – ‘10-Q/A’ for 1/31/14 – ‘EX-101.INS’

On:  Monday, 12/22/14, at 5:05pm ET   ·   For:  1/31/14   ·   Accession #:  1472375-14-359   ·   File #:  0-55282

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/22/14  Homeland Resources Ltd.           10-Q/A      1/31/14   48:1.7M                                   Avantafile Syst… Corp/FA

Amendment to Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q/A      Amendment No. 1 to the Quarterly Report January     HTML    161K 
                31, 2014                                                         
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     20K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     20K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     15K 
 5: EX-32.2     Certification -- §906 - SOA'02                      HTML     15K 
30: R1          Document and Entity Information                     HTML     43K 
23: R2          Balance Sheets (Unaudited)                          HTML    107K 
28: R3          Balance Sheets (Parenthetical)                      HTML     40K 
33: R4          Statements of Operations (Unaudited)                HTML     72K 
44: R5          Statements of Cash Flows (Unaudited)                HTML     90K 
24: R6          Basis of Presentation                               HTML     19K 
27: R7          Going Concern                                       HTML     20K 
21: R8          Summary of Significant Accounting Policies          HTML     23K 
15: R9          Recently Issued Accounting Pronouncements           HTML     20K 
45: R10         Income (Loss) Per Share                             HTML     20K 
35: R11         Oil and Gas Properties                              HTML     28K 
34: R12         Notes Payable                                       HTML     30K 
39: R13         Stockholders' (Deficit)                             HTML     25K 
40: R14         Commitments and Contingencies                       HTML     20K 
38: R15         Related Party Transactions                          HTML     21K 
41: R16         Subsequent Events                                   HTML     18K 
29: R17         Restatement                                         HTML     42K 
32: R18         Summary of Significant Accounting Policies          HTML     42K 
                (Policies)                                                       
37: R19         Oil and Gas Properties (Tables)                     HTML     22K 
48: R20         Notes Payable (Tables)                              HTML     21K 
42: R21         Restatement (Tables)                                HTML     39K 
25: R22         OIL AND GAS PROPERTIES (Details) - Schedule of Oil  HTML     32K 
                and Gas In Process Activities                                    
36: R23         NOTES PAYABLE (Details) - Schedule of Debt          HTML     37K 
26: R24         RESTATEMENT (Details) - Summary of Corrections to   HTML     33K 
                Balance Sheet                                                    
14: R25         RESTATEMENT (Details) - Summary of Corrections to   HTML     50K 
                the Statement of Operations                                      
43: R26         Going Concern (Details Narrative)                   HTML     27K 
46: R27         Oil and Gas Properties (Details Narrative)          HTML     40K 
18: R28         Notes Payable (Details Narrative)                   HTML     24K 
17: R29         Stockholders' (Deficit) (Details Narrative)         HTML     29K 
19: R30         Commitments and Contingencies (Details Narrative)   HTML     17K 
20: R31         Related Party Transactions (Details Narrative)      HTML     26K 
22: R32         Subsequent Events (Details Narrative)               HTML     16K 
13: R33         Restatement (Details Narrative)                     HTML     41K 
47: XML         IDEA XML File -- Filing Summary                      XML     66K 
12: EXCEL       IDEA Workbook of Financial Reports                  XLSX     59K 
16: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    194K 
 6: EX-101.INS  XBRL Instance -- hmla-20140131                       XML    313K 
 8: EX-101.CAL  XBRL Calculations -- hmla-20140131_cal               XML     88K 
 9: EX-101.DEF  XBRL Definitions -- hmla-20140131_def                XML    148K 
10: EX-101.LAB  XBRL Labels -- hmla-20140131_lab                     XML    352K 
11: EX-101.PRE  XBRL Presentations -- hmla-20140131_pre              XML    296K 
 7: EX-101.SCH  XBRL Schema -- hmla-20140131                         XSD     75K 
31: ZIP         XBRL Zipped Folder -- 0001472375-14-000359-xbrl      Zip     44K

‘EX-101.INS’   —   XBRL Instance — hmla-20140131

This Exhibit is an XBRL XML File.

                                                                                                                                                                                
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 1 – BASIS OF PRESENTATION </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 2pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">The interim financial statements of Homeland Resources Ltd. (“we”, “us”, “our”, “Homeland”, or the “Company”) are unaudited and contain all adjustments (consisting primarily of normal recurring accruals) necessary for a fair statement of the results for the interim periods presented. Results for interim periods are not necessarily indicative of results to be expected for a full year or for previously reported periods due in part, but not limited to, interest rates, drilling risks, geological risks, the timing of acquisitions, and our ability to obtain additional capital. These interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in Homeland’s Annual Report on Form 10-K for the year ended July 31, 2013, as filed with the Securities and Exchange Commission (“SEC”) on October 29, 2013. The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 2 – GOING CONCERN</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"><font style="background-color: white">As of January 31, 2014, our current liabilities exceeded our current assets by $1,242,766 and for the six months ended January 31, 2014, our net loss from operations was $67,164.  Our results of operations have resulted in an accumulated deficit of $633,503 and a total stockholders’ deficit of $423,333 as of January 31, 2014.  We have participated in the drilling of test wells on undeveloped properties.  We plan further participation in a drilling program for the remainder of the fiscal year.  It is difficult to anticipate our capital requirements for the remainder of the fiscal year as significant drilling activities will continue. We will need to raise equity or borrow additional capital to fund our continued participation in planned activities. If additional financing is not available, we may be compelled to reduce the scope of our business activities.  If we are unable to fund our operating cash flow needs and planned capital investments, it may be necessary to sell all or a portion of our interests in our oil and gas properties.</font></p>
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<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><b><i>Accounts Receivable – </i></b>Accounts receivable consists of amounts receivable from oil and gas sold from our well interests. As of January 31, 2014, our accounts receivable amounted to $20,000, all of which is due from one party, the operator of our oil and gas properties. Management believes this amount to be fully collectible; we will continue to monitor accounts receivable for collectability on a periodic basis.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><b><i>Asset Retirement Obligation – </i></b>Asset retirement obligations associated with tangible long-lived assets are accounted for in accordance with ASC 410, “<i>Accounting for Asset Retirement Obligations.”</i> The estimated fair value of the future costs associated with dismantlement, abandonment and restoration of oil and gas properties is recorded generally upon the completion of a well. The net estimated costs are discounted to present values using a risk adjusted rate over the estimated economic life of the oil and gas properties. Such costs are capitalized as part of the related asset. The asset is depleted on the units-of-production method on a field-by-field basis. The liability is periodically adjusted to reflect: (1) new liabilities incurred; (2) liabilities settled during the period; (3) accretion expense; and (4) revisions to estimated future cash flow requirements. The accretion expense is recorded as a component of depreciation, depletion accretion and amortization expense in the accompanying statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><font style="font-size: 10pt"><b><i>Fair Value of Financial Instruments</i></b></font> – <font style="font-size: 10pt">The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, notes payable, and interest payable. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><b><i>Concentrations</i></b> - The Company received 100% of its revenues from the operator of its oil and gas properties during the fiscal quarters ended January 31, 2013 and 2014.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35pt; text-align: justify"><b><i>Revenue Recognition – </i></b>The Company recognizes oil and gas revenue when production is sold at a fixed or determinable price, persuasive evidence of an arrangement exists, delivery has occurred and title has transferred, and collectability is reasonably assured.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 35pt; text-align: justify"><font style="font-size: 10pt"><b><i>Estimates</i></b></font><font style="font-size: 11pt"> </font>–<font style="font-size: 11pt"> </font><font style="font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions. </font></p> <p style="margin: 0pt"> </p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><b><i>Accounts Receivable – </i></b>Accounts receivable consists of amounts receivable from oil and gas sold from our well interests. As of January 31, 2014, our accounts receivable amounted to $20,000, all of which is due from one party, the operator of our oil and gas properties. Management believes this amount to be fully collectible; we will continue to monitor accounts receivable for collectability on a periodic basis.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><b><i>Asset Retirement Obligation – </i></b>Asset retirement obligations associated with tangible long-lived assets are accounted for in accordance with ASC 410, “<i>Accounting for Asset Retirement Obligations.”</i> The estimated fair value of the future costs associated with dismantlement, abandonment and restoration of oil and gas properties is recorded generally upon the completion of a well. The net estimated costs are discounted to present values using a risk adjusted rate over the estimated economic life of the oil and gas properties. Such costs are capitalized as part of the related asset. The asset is depleted on the units-of-production method on a field-by-field basis. The liability is periodically adjusted to reflect: (1) new liabilities incurred; (2) liabilities settled during the period; (3) accretion expense; and (4) revisions to estimated future cash flow requirements. The accretion expense is recorded as a component of depreciation, depletion accretion and amortization expense in the accompanying statements of operations.</p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><font style="font-size: 10pt"><b><i>Fair Value of Financial Instruments</i></b></font> – <font style="font-size: 10pt">The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, notes payable, and interest payable. The carrying amounts of such financial instruments approximate their respective estimated fair value due to the short-term maturities and approximate market interest rates of these instruments.</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35.95pt; text-align: justify"><b><i>Concentrations</i></b> - The Company received 100% of its revenues from the operator of its oil and gas properties during the fiscal quarters ended January 31, 2013 and 2014.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 35pt; text-align: justify"><b><i>Revenue Recognition – </i></b>The Company recognizes oil and gas revenue when production is sold at a fixed or determinable price, persuasive evidence of an arrangement exists, delivery has occurred and title has transferred, and collectability is reasonably assured.</p>
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<p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 35pt; text-align: justify"><font style="font-size: 10pt"><b><i>Estimates</i></b></font><font style="font-size: 11pt"> </font>–<font style="font-size: 11pt"> </font><font style="font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates under different assumptions or conditions. </font></p>
</us-gaap:UseOfEstimates>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 4 – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Accounting standards-setting organizations frequently issue new or revised accounting rules. We regularly review all new pronouncements that have been issued to determine their impact, if any, on our financial statements.</p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify; background-color: white"><font style="background-color: white">In July 2013, the FASB issued, ASU No. 2013-11 <i>"Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists" (“ASU 2013-11”). </i> ASU 2013-11 addresses the diversity in practice that exists for the balance sheet presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 requires that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. ASU No. 2013-11 is effective for the Company’s fiscal quarter ending October 31, 2014. ASU 2013-11 impacts balance sheet presentation only. The Company is currently evaluating the impact of the new rule but believes the balance sheet impact will not be material.</font></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">There were various updates recently issued, most of which represented technical corrections to the accounting literature, reclassification of other comprehensive income or application to specific industries and are not expected to have a material impact on the Company's financial position, results of operations or cash flows.</p> <p style="margin: 0pt"></p>
</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
<us-gaap:EarningsPerShareTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><b>NOTE 5 – INCOME (LOSS) PER SHARE</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Basic net income (loss) per common share is computed by dividing the net income (loss) attributable to common shareholders by the weighted average number of shares of common stock outstanding during the period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Diluted net income per common share is computed in the same manner, but also considers the effect of common stock shares underlying any instrument that might have a dilutive impact on weighted average shares outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">As of January 31, 2014 we did not have any instruments which would have an impact on our weighted average shares outstanding.</p> <p style="margin: 0pt"></p>
</us-gaap:EarningsPerShareTextBlock>
<us-gaap:OilAndGasPropertiesTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><b>NOTE 6 – OIL AND GAS PROPERTIES </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">The Company holds the following oil and gas interests:</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p> <table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><b><u>January 31, 2014</u></b></td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><u>July 31,</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><u>2013</u></b></p></td> <td style="width: 3%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><b>Oil and Gas Properties</b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b> </b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b> </b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Washita Bend 3D Exploration Project</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">598,014</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">579,818</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">2010-1 Drilling Program</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">39,163</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">39,163</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 36pt">Total Oil and Gas Properties - unproved</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">637,177</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">618,981</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Oil and Gas Properties - proved</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">290,841</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">344,297</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Asset Retirement Cost</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3,661</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3,191</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Less: accumulated depletion and impairment</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">(108,096)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">(140,647)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><b>Total </b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">823,583</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">825,822</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt"><b>Washita Bend 3D Exploration Project </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">In April 2010, we acquired a 5% working interest in the Washita Bend 3D Exploration Project for a total buy-in cost of $46,250. The project initially provided for the acquisition of approximately 135 miles of 3D seismic data to identify drillable prospects in a study area comprising 119,680 acres in Oklahoma.  The Washita prospect area is located in Cleveland, Garvin, McCain and Pottawatomie Counties, Oklahoma. On May 14, 2013, drilling commenced on the first of an anticipated 8-well Phase-I exploration program. Of the first six wells drilled in connection with this Phase-I exploration program five have been deemed to be non-economic. As per the terms of the initial purchase agreement, we will participate in all eight wells to be drilled in the Phase-I exploration program.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">As a component of the initial Washita Bend purchase agreement, we acquired from the seller a 5% carried working interest to casing point in the first eight wells drilled on this prospect area. We have committed to participate in the drilling of the initial eight wells in the Phase-1 exploration program. Should we fail to participate in the drilling of any of the Phase-1 wells, we are subject to forfeit our right to our share of seismic data gathered.</p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt 36pt; text-align: justify"><b>2010–1 Drilling Program</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">In April 2010, we acquired a 5% working interest in the 2010-1 Drilling Program located in Garvin County, Oklahoma for total buy-in costs of $39,163. Of the four wells in which we participated related to this program three wells went on production.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">On December 3, 2013 we conveyed our interest in the Miss Jenny #1-8 to the operator of the well, for total consideration of $200,000 effective November 1, 2013. We received $141,505 in cash and a credit of $58,495 against accrued Joint Interest billing costs owed to the operator. We have recorded a gain in connection with this conveyance in the amount of $73,871.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 36pt"><b>Impairment</b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Under the full cost method, the Company is subject to a ceiling test.  This ceiling test determines whether there is any impairment to the proved properties.  The impairment amount represents the excess of capitalized costs over the present value, discounted at 10%, of the estimated future net cash flows from the proven oil and gas reserves plus the cost, or estimated fair market value. <b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><b>Depletion</b></p> <p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Under the full cost method, depletion is computed on the units of production method based on proved reserves, or upon reasonable estimates where proved reserves have not yet been established due to the recent commencement of production.  Depletion expense recognized was $14,880 and $6,251 for the three month periods ended January 31, 2014 and 2013, respectively, and was $32,978 and $8,388 for the six month periods ended January 31, 2014 and 2013, respectively.</p> <p style="margin: 0pt"></p>
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<us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 7 – NOTES PAYABLE</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company has recorded the following notes payable:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>January 31, 2014</b></td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>July 31, 2013</b></td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 6.5% (A)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">55,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">55,000</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 6.5% (B)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">50,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">50,000</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 7.5% (C)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">604,709</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">604,709</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 6.5% demand loans (D)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">146,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">71,000</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Demand loans (E)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">870,709</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">780,709</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 40.3pt"></td><td style="width: 18pt"><font style="font-size: 10pt">(A)</font></td><td style="text-align: justify"><font style="font-size: 10pt">In April 2010, the Company executed a loan agreement with Radium, for $55,000 at an interest rate of 6.5% per annum for a period of two years. The proceeds have been used for working capital in connection with the Company’s exploration programs. The note is unsecured and is past due.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -22.5pt"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 40.3pt"></td><td style="width: 18pt"><font style="font-size: 10pt">(B)</font></td><td style="text-align: justify"><font style="font-size: 10pt">In May 2010, the Company executed a loan agreement with Radium, for $50,000 at an interest rate of 6.5% per annum for a period of two years. The proceeds of the loan have been used for working capital in connection with the Company’s exploration programs. The loan is unsecured and is past due.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="background-color: yellow"> </font></p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 40.3pt"></td><td style="width: 18pt"><font style="font-size: 10pt">(C)</font></td><td style="text-align: justify"><font style="font-size: 10pt">In May 2010, the Company signed a loan agreement with Radium, to receive up to $1,000,000 by way of advances available through December 31, 2011. The advances will be subject to an interest rate of 7.5% per annum. The Company also committed to issue to Radium 50,000 restricted common shares per each $100,000 advanced. All amounts advanced were payable within 36 months. As of January 31, 2014, $649, 708 of these advances were past due. </font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 40.3pt"></td><td style="width: 18pt"><font style="font-size: 10pt">(D)</font></td><td style="text-align: justify"><font style="font-size: 10pt">On April 30, 2013, Radium Ventures advanced the Company $31,000 under the terms of a two-year 6.5%, promissory note. The note is unsecured, payable upon demand and can be repaid at any time. The proceeds of this note were used as working capital in connection with our exploration programs. On July 26, 2013, Radium Ventures advanced the Company $40,000 under the terms of a two-year 6.5%, promissory note. The note is unsecured, payable upon demand and can be repaid at any time. The proceeds of this note were used as working capital in connection with our exploration programs. On August 12, 2013 Radium Ventures advanced the Company $45,000 under the terms of a two-year 6.5%, promissory note. The note is unsecured, payable upon demand and can be repaid at any time. The proceeds of this note were used as working capital in connection with our exploration programs. On September 6, 2013 Radium Ventures advanced the Company $30,000 under the terms of a two-year 6.5%, promissory note. The note is unsecured, payable upon demand and can be repaid at any time. The proceeds of this note were used as working capital in connection with our exploration programs.</font></td></tr></table> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 58.3pt; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 11pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 40.3pt"></td><td style="width: 18pt"><font style="font-size: 10pt">(E)</font></td><td style="text-align: justify"><font style="font-size: 10pt">On October 11, 2013 and October 21, 2013, the Company borrowed a total of $15,000 from two lenders - $7,500 from our Chief Financial Officer, Paul D. Maniscalco, and $7,500 from an individual shareholder. The short term notes bear interest at 15%, and principal and interest are due and payable in six equal installments commencing on February 1, 2014. The notes are convertible into shares of our common stock at $.02 per share at the election of the noteholders, maturity, or in the event of a default of repayment. In connection with this embedded conversion feature we have recorded a charge of $15,000 to interest expense during the quarter ended October 31, 2013. These notes have matured and are past due.</font></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Interest expense incurred during the three and six months ended January 31, 2014 amounted to $16,111 and $46,456, respectively, compared to $13,152 and $39,455 during the three and six months ended January 31, 2013, respectively. Accrued interest expense related to these notes amounted to $182,888 at January 31, 2014 and has been included in accrued liabilities on the Company’s balance sheet.</p> <p style="margin: 0pt"></p>
</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 8 –STOCKHOLDERS’ (DEFICIT)</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">As of January 31, 2014, we had 250,000,000 and 500,000,000 shares of preferred stock and common stock authorized, respectively. 10,000,000 shares of preferred stock were designated as Series A Preferred Stock, with a par value of $0.0001 per share. As of January 31, 2014, there were nil and 12,160,000 shares of preferred stock and common stock outstanding, (reflects September 30, 2014 5-to-1 reverse split), respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">The Company did not issue any shares of its common stock or preferred shares during the six month period ended January 31, 2014. The Company did not grant any options or warrants to purchase shares of its common stock or preferred shares during the six month period ended January 31, 2014.</p> <p style="margin: 0pt"></p>
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><b>NOTE 9 – COMMITMENTS AND CONTINGENCIES</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">Although not completely estimable as of January 31, 2014, based on the terms of our original agreements with the operator of our oil and gas properties, the Company anticipates additional expenditures related to its share of the ongoing Phase-1 drilling program as described elsewhere herein may approach $150,000 through the remainder of the fiscal year 2014. In addition should the Company choose to terminate its involvement in the ongoing Phase-1 drilling program, it may incur significant additional liabilities and or forfeit its right to seismic data per the terms of its initial agreement with the operator.</p>
</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 10 – RELATED PARTY TRANSACTIONS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">As of January 31, 2014, the Company owed $228,854 to a related party. The Company incurred $10,500 and $21,000, respectively, in consulting expense with the related party during the three and six months ended January 31, 2013.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt">On October 11, 2013 our Chief Financial Officer loaned us $7,500 (Note 7). The Company made no cash payments to related parties during the six months ended January 31, 2014.</p> <p style="margin: 0pt"></p>
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<us-gaap:SubsequentEventsTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 11 – SUBSEQUENT EVENTS</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">The Company has evaluated all transactions through the date of issuance of these financial statements and noted there are no subsequent events that would require disclosure other than those disclosed hereafter. Subsequent to January 31, 2014, our short term loans in the amount of $15,000 due our Chief Financial Officer and a shareholder matured and are past due.</p> <p style="margin: 0pt"></p>
</us-gaap:SubsequentEventsTextBlock>
<us-gaap:ScheduleOfOilAndGasInProcessActivitiesTextBlock contextRef="From2013-08-01to2014-01-31">
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center"><b><u>January 31, 2014</u></b></td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><u>July 31,</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b><u>2013</u></b></p></td> <td style="width: 3%; padding-top: 12pt; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><b>Oil and Gas Properties</b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b> </b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b> </b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Washita Bend 3D Exploration Project</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">598,014</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">579,818</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">2010-1 Drilling Program</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">39,163</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">39,163</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 36pt">Total Oil and Gas Properties - unproved</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">637,177</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">618,981</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Oil and Gas Properties - proved</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">290,841</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">344,297</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Asset Retirement Cost</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3,661</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3,191</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Less: accumulated depletion and impairment</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">(108,096)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">(140,647)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"><b>Total </b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">823,583</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">825,822</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> </table>
</us-gaap:ScheduleOfOilAndGasInProcessActivitiesTextBlock>
<us-gaap:ScheduleOfDebtTableTextBlock contextRef="From2013-08-01to2014-01-31">
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>January 31, 2014</b></td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 22%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>July 31, 2013</b></td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 6.5% (A)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">55,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">55,000</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 6.5% (B)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">50,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">50,000</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 7.5% (C)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">604,709</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">604,709</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Radium Ventures 6.5% demand loans (D)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">146,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">71,000</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Demand loans (E)</font></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15,000</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">870,709</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$</td> <td style="border-bottom: Black 1.5pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">780,709</td></tr> </table>
</us-gaap:ScheduleOfDebtTableTextBlock>
<HMLA:CurrentLiabilitiesExcessOverCurrentAssets contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 1242766 </HMLA:CurrentLiabilitiesExcessOverCurrentAssets>
<HMLA:AccumulatedDeficitResultedFromOperations contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 633503 </HMLA:AccumulatedDeficitResultedFromOperations>
<us-gaap:OilAndGasPropertyFullCostMethodGross contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 637177 </us-gaap:OilAndGasPropertyFullCostMethodGross>
<us-gaap:OilAndGasPropertyFullCostMethodGross contextRef="AsOf2013-07-31" unitRef="USD" decimals="0"> 618981 </us-gaap:OilAndGasPropertyFullCostMethodGross>
<us-gaap:OilAndGasPropertyFullCostMethodGross contextRef="AsOf2014-01-31_custom_WashitaBend3DExplorationProjectMember" unitRef="USD" decimals="0"> 598014 </us-gaap:OilAndGasPropertyFullCostMethodGross>
<us-gaap:OilAndGasPropertyFullCostMethodGross contextRef="AsOf2013-07-31_custom_WashitaBend3DExplorationProjectMember" unitRef="USD" decimals="0"> 579818 </us-gaap:OilAndGasPropertyFullCostMethodGross>
<us-gaap:OilAndGasPropertyFullCostMethodGross contextRef="AsOf2014-01-31_custom_ToOneDrillingProgramMember" unitRef="USD" decimals="0"> 39163 </us-gaap:OilAndGasPropertyFullCostMethodGross>
<us-gaap:OilAndGasPropertyFullCostMethodGross contextRef="AsOf2013-07-31_custom_ToOneDrillingProgramMember" unitRef="USD" decimals="0"> 39163 </us-gaap:OilAndGasPropertyFullCostMethodGross>
<HMLA:OilAndGasPropertyProvedFullCostMethodGross contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 290841 </HMLA:OilAndGasPropertyProvedFullCostMethodGross>
<HMLA:OilAndGasPropertyProvedFullCostMethodGross contextRef="AsOf2013-07-31" unitRef="USD" decimals="0"> 344297 </HMLA:OilAndGasPropertyProvedFullCostMethodGross>
<us-gaap:CapitalizedCostsAssetRetirementCosts contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 3661 </us-gaap:CapitalizedCostsAssetRetirementCosts>
<us-gaap:CapitalizedCostsAssetRetirementCosts contextRef="AsOf2013-07-31" unitRef="USD" decimals="0"> 3191 </us-gaap:CapitalizedCostsAssetRetirementCosts>
<us-gaap:OilAndGasPropertyFullCostMethodDepletion contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> -108096 </us-gaap:OilAndGasPropertyFullCostMethodDepletion>
<us-gaap:OilAndGasPropertyFullCostMethodDepletion contextRef="AsOf2013-07-31" unitRef="USD" decimals="0"> -140647 </us-gaap:OilAndGasPropertyFullCostMethodDepletion>
<us-gaap:OilAndGasPropertyFullCostMethodNet contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 823583 </us-gaap:OilAndGasPropertyFullCostMethodNet>
<us-gaap:OilAndGasPropertyFullCostMethodNet contextRef="AsOf2013-07-31" unitRef="USD" decimals="0"> 825822 </us-gaap:OilAndGasPropertyFullCostMethodNet>
<HMLA:WorkingInterest contextRef="AsOf2010-04-30_custom_WashitaBend3DExplorationProjectMember" unitRef="Pure" decimals="INF"> 0.05 </HMLA:WorkingInterest>
<HMLA:WorkingInterest contextRef="AsOf2010-04-30_custom_ToOneDrillingProgramMember" unitRef="Pure" decimals="INF"> 0.05 </HMLA:WorkingInterest>
<us-gaap:CapitalizedCostsOilAndGasProducingActivitiesGross contextRef="AsOf2010-04-30_custom_WashitaBend3DExplorationProjectMember" unitRef="USD" decimals="0"> 46250 </us-gaap:CapitalizedCostsOilAndGasProducingActivitiesGross>
<us-gaap:CapitalizedCostsOilAndGasProducingActivitiesGross contextRef="AsOf2010-04-30_custom_ToOneDrillingProgramMember" unitRef="USD" decimals="0"> 39163 </us-gaap:CapitalizedCostsOilAndGasProducingActivitiesGross>
<HMLA:DrillingProgramInterestTotalConsiderationReceived contextRef="AsOf2013-12-03_custom_ToOneDrillingProgramMember" unitRef="USD" decimals="0"> 200000 </HMLA:DrillingProgramInterestTotalConsiderationReceived>
<HMLA:DrillingProgramInterestCashReceived contextRef="AsOf2013-12-03_custom_ToOneDrillingProgramMember" unitRef="USD" decimals="0"> 141505 </HMLA:DrillingProgramInterestCashReceived>
<HMLA:DrillingProgramInterestCreditReceived contextRef="AsOf2013-12-03_custom_ToOneDrillingProgramMember" unitRef="USD" decimals="0"> 58495 </HMLA:DrillingProgramInterestCreditReceived>
<us-gaap:DepletionOfOilAndGasProperties contextRef="From2013-08-01to2014-01-31" unitRef="USD" decimals="0"> 32978 </us-gaap:DepletionOfOilAndGasProperties>
<us-gaap:DepletionOfOilAndGasProperties contextRef="From2013-11-01to2014-01-31" unitRef="USD" decimals="0"> 14880 </us-gaap:DepletionOfOilAndGasProperties>
<us-gaap:DepletionOfOilAndGasProperties contextRef="From2012-11-01to2013-01-31" unitRef="USD" decimals="0"> 6251 </us-gaap:DepletionOfOilAndGasProperties>
<us-gaap:DepletionOfOilAndGasProperties contextRef="From2012-08-01to2013-01-31" unitRef="USD" decimals="0"> 8388 </us-gaap:DepletionOfOilAndGasProperties>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2010-04-30" unitRef="Pure" decimals="INF"> 0.065 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2010-05-30" unitRef="Pure" decimals="INF"> 0.065 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2013-04-30" unitRef="Pure" decimals="INF"> 0.065 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2013-07-26" unitRef="Pure" decimals="INF"> 0.065 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2013-08-12" unitRef="Pure" decimals="INF"> 0.065 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="AsOf2013-09-06" unitRef="Pure" decimals="INF"> 6.5 </us-gaap:DebtInstrumentInterestRateStatedPercentage>
<us-gaap:OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 150000 </us-gaap:OtherCommitmentsFutureMinimumPaymentsRemainderOfFiscalYear>
<us-gaap:RelatedPartyTransactionDueFromToRelatedParty contextRef="AsOf2014-01-31_custom_TotalMember" unitRef="USD" decimals="0"> 228854 </us-gaap:RelatedPartyTransactionDueFromToRelatedParty>
<us-gaap:ProceedsFromRelatedPartyDebt contextRef="From2013-10-01to2013-10-11_us-gaap_ChiefFinancialOfficerMember" unitRef="USD" decimals="0"> 7500 </us-gaap:ProceedsFromRelatedPartyDebt>
<us-gaap:AccountingChangesAndErrorCorrectionsTextBlock contextRef="From2013-08-01to2014-01-31">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>NOTE 12 - RESTATEMENT</b></p> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 36pt; text-align: justify">The initial accounting for the conveyance of certain working interests in certain crude oil and natural gas properties (“Interests”) sold during the fiscal quarter ended January 31, 2014 to an un-related third party resulted in the gain being over-stated. The methodology initially utilized to arrive at the fair value applied to the Interests sold was inappropriately applied at the time the transaction was initially recorded. Related to the re-allocation of the fair value of the assets sold, the calculation of depletion was re-performed. The issues were discovered in connection with the audit of the Company’s July 31, 2014 financial statements. The gain on the sale of assets initially reported as $147,978 was re-calculated utilizing the appropriate fair value to arrive at a net gain of $73,871. Associated depletion expense reported for the period ended January 31, 2014 was re-calculated, changes related thereto were immaterial but have been adjusted for. The net impact of these adjustments resulted in a previous overstatement of net income of $68,527 or $.006 per share for the three months ended January 31, 2014 (restated to reflect September 30, 2014 5-to-1 reverse stock split), to arrive at adjusted net income of $32,520 or $.003 per share (restated to reflect September 30, 2014 5-to-1 reverse stock split). For the six months ended January 31, 2014 net income of $28,778 will be restated to reflect a net loss of $(39,749) with a corresponding change in net income per share from $.002 to a net loss per share of $(.003)(restated to reflect September 30, 2014 5-to-1 reverse stock split).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt">The following table summarizes the corrections on our balance sheet as of January 31, 2014;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Reported</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Adjustments</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="3" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Corrected</td></tr> <tr style="vertical-align: bottom"> <td style="width: 46%; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Total Assets</td><td style="width: 5%; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td><td style="width: 11%; border-bottom: Black 1pt solid; text-align: right">1,031,058</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 5%; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td><td style="width: 11%; border-bottom: Black 1pt solid; text-align: right">(68,527</td><td style="width: 1%; padding-bottom: 1pt; text-align: left">)</td><td style="width: 5%; padding-bottom: 1pt"> </td> <td style="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</td><td style="width: 11%; border-bottom: Black 1pt solid; text-align: right">962,531</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Total Liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,385,864</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">—  </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1,385,864</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Total Shareholders (Deficit)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(354,806</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(68,527</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(423,333</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 72pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b> </b></p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td nowrap="nowrap" colspan="9" style="padding-right: 5.4pt; padding-left: 5.4pt">The following table summarizes the correction on our statements of operations for the three and six months ended January 31, 2014;</td></tr> <tr> <td style="width: 58%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="6" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>Three Months Ended</b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>Six Months Ended</b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Net Income As Reported</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">101,047</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">28,778</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Adjustments:</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Previously reported Depreciation, depletion and accretion</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">20,532</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">38,702</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Corrected amount of Depreciation, depletion and accretion</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(14,952</td> <td style="vertical-align: bottom">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(33,122</td> <td style="vertical-align: bottom">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Previously reported Gain on conveyance of interest in oil and gas properties</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(147,978</td> <td style="vertical-align: bottom">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(147,978</td> <td style="vertical-align: bottom">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Corrected amount of Gain on conveyance of interest in oil and gas properties</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">73,871</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">73,871</td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Total adjustment</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-top: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(68,527</td> <td style="vertical-align: bottom">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-top: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(68,527</td> <td style="vertical-align: bottom">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Corrected net income (loss)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">32,520</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(39,749</td> <td style="vertical-align: bottom">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Income per share as initially reported</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Corrected income (loss) per share</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(0.00)</td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Variance</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(0.00)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"></td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Income per share as initially reported (as restated for September 30, 2014 5-to-1 reverse stock split)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.01</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Corrected income (loss) per share (as restated for September 30, 2014 5-to-1 reverse stock split)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(0.00)</td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Variance (as restated for September 30, 2014 5-to-1 reverse stock split)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: right">(0.01</td> <td style="vertical-align: bottom">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(0.00)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> </table>
</us-gaap:AccountingChangesAndErrorCorrectionsTextBlock>
<HMLA:SummaryOfCorrectionsToStatementOfOperationsTableTextBlock contextRef="From2013-08-01to2014-01-31">
<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>Three Months Ended</b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="border-top: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>Six Months Ended</b></td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td colspan="2" style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Net Income As Reported</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">101,047</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">28,778</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Adjustments:</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Previously reported Depreciation, depletion and accretion</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">20,532</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">38,702</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Corrected amount of Depreciation, depletion and accretion</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(14,952</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(33,122</td> <td style="vertical-align: bottom; padding-right: -3.6pt; padding-left: 5.4pt">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Previously reported Gain on conveyance of interest in oil and gas properties</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(147,978</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(147,978</td> <td style="vertical-align: bottom; padding-right: -3.6pt; padding-left: 5.4pt">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 16.2pt">Corrected amount of Gain on conveyance of interest in oil and gas properties</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">73,871</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">73,871</td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Total adjustment</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-top: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-top: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(68,527</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-top: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(68,527</td> <td style="vertical-align: bottom; padding-right: -3.6pt; padding-left: 5.4pt">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Corrected net income (loss)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">32,520</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">(39,749</td> <td style="vertical-align: bottom; padding-right: -3.6pt; padding-left: 5.4pt">)</td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Income per share as initially reported</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Corrected income (loss) per share</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Variance</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Income per share as initially reported (as restated for September 30, 2014 5-to-1 reverse stock split)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.01</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Corrected income (loss) per share (as restated for September 30, 2014 5-to-1 reverse stock split)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"> </td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: -3.6pt; padding-left: 5.4pt"> </td></tr> <tr> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Variance (as restated for September 30, 2014 5-to-1 reverse stock split)</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -5.15pt; padding-left: 5.4pt; text-align: right">(0.01</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">)</td> <td style="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; padding-right: -3.65pt; padding-left: 5.4pt; text-align: right">0.00</td> <td style="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> </table>
</HMLA:SummaryOfCorrectionsToStatementOfOperationsTableTextBlock>
<us-gaap:ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock contextRef="From2013-08-01to2014-01-31">
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="width: 15%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>As Reported</b></td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 14%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>Adjustments</b></td> <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="width: 17%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b>As Corrected</b></td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Total Assets </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1,031,058</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(68,527)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">962,531</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Total Liabilities </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">    1,385,864</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">-</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1,385,864</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">Total Shareholders (Deficit)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(354,806)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(68,527)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">$</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(423,333)</td></tr> <tr style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> </table>
</us-gaap:ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock>
<HMLA:VarianceOnIncomePerShare contextRef="From2013-08-01to2014-01-31" unitRef="USDPShares" decimals="INF"> 0.00 </HMLA:VarianceOnIncomePerShare>
<HMLA:VarianceOnIncomePerShare contextRef="From2013-11-01to2014-01-31" unitRef="USDPShares" decimals="INF"> 0.00 </HMLA:VarianceOnIncomePerShare>
<us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare contextRef="From2013-08-01to2014-01-31" unitRef="USDPShares" decimals="INF"> 0.00 </us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare>
<us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare contextRef="From2013-11-01to2014-01-31" unitRef="USDPShares" decimals="INF"> 0.00 </us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare>
<us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare contextRef="From2013-11-01to2014-01-31_custom_PreviouslyReportedMember" unitRef="USDPShares" decimals="INF"> 0.01 </us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare>
<us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare contextRef="From2013-08-01to2014-01-31_custom_PreviouslyReportedMember" unitRef="USDPShares" decimals="INF"> 0.00 </us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare>
<HMLA:VarianceOnIncomePerShareTaking5to1ReverseStockSplitIIntoAccount contextRef="From2013-08-01to2014-01-31" unitRef="USDPShares" decimals="INF"> 0.00 </HMLA:VarianceOnIncomePerShareTaking5to1ReverseStockSplitIIntoAccount>
<HMLA:VarianceOnIncomePerShareTaking5to1ReverseStockSplitIIntoAccount contextRef="From2013-11-01to2014-01-31" unitRef="USDPShares" decimals="INF"> -0.01 </HMLA:VarianceOnIncomePerShareTaking5to1ReverseStockSplitIIntoAccount>
<us-gaap:SubsequentEventDescription contextRef="From2013-08-01to2014-01-31_custom_DebtMaturedMember"> Subsequent to January 31, 2014, our short term loans in the amount of $15,000 due our Chief Financial Officer and a shareholder matured and are past due. </us-gaap:SubsequentEventDescription>
<HMLA:NetIncomeAdjustment contextRef="From2013-08-01to2014-01-31" unitRef="USD" decimals="0"> -68527 </HMLA:NetIncomeAdjustment>
<HMLA:NetIncomeAdjustment contextRef="From2013-11-01to2014-01-31" unitRef="USD" decimals="0"> -68527 </HMLA:NetIncomeAdjustment>
<HMLA:NetIncomeAdjustmentAdjustmentStockSplit contextRef="From2013-11-01to2014-01-31" unitRef="USD" decimals="0"> 32520 </HMLA:NetIncomeAdjustmentAdjustmentStockSplit>
<HMLA:OverstatementOfNetIncomePerShare contextRef="From2013-11-01to2014-01-31" unitRef="USDPShares" decimals="INF"> .006 </HMLA:OverstatementOfNetIncomePerShare>
<HMLA:OverstatementOfNetIncomePerShareRestatedToReflectSeptember3020145to1ReverseStockSplit contextRef="From2013-11-01to2014-01-31" unitRef="USDPShares" decimals="INF"> .003 </HMLA:OverstatementOfNetIncomePerShareRestatedToReflectSeptember3020145to1ReverseStockSplit>
<us-gaap:EarningsPerShareBasic contextRef="From2013-08-01to2014-01-31" unitRef="USDPShares" decimals="INF"> .002 </us-gaap:EarningsPerShareBasic>
<HMLA:NetIncomeLossPerShareRestatedToReflectSeptember3020145to1ReverseStockSplit contextRef="From2013-08-01to2014-01-31" unitRef="USDPShares" decimals="INF"> -.003 </HMLA:NetIncomeLossPerShareRestatedToReflectSeptember3020145to1ReverseStockSplit>
<HMLA:FairValueAdjustmentOnSaleOfAsset contextRef="From2013-08-01to2014-01-31"> The gain on the sale of assets initially reported as $147,978 was re-calculated utilizing the appropriate fair value to arrive at a net gain of $73,871. </HMLA:FairValueAdjustmentOnSaleOfAsset>
</xbrli:xbrl>

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