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Grid Petroleum Corp.
Symbol:  GRPR


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Business Summary: Grid Petroleum Corp., a development-stage company, engages in the development, exploration and production of oil and gas in North America. The company holds a 100% working interest in four separate oil and gas leases located near the Jonah Field region in Wyoming.
 
Address
  33 Cavendish Square
  London , England W14 0RA
  Phone: 44-207-182-4205
  Website: http://www.gridpetroleum.com
Auditor
  SCHUMACHER & ASSOCIATES, INC
Transfer Agent
  Island Stock Transfer
ShareHolders:  67
Founded:  2006
Domicile:  Nevada
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Grid Petroleum Corp., in the development stage as of Mar. 31, 2010, engages in the development, exploration and production of oil and gas in North America. The company holds a 100% working interest in four separate oil and gas leases located near the Jonah Field region, which encompasses an area of natural gas reserves within the Greater Green River Basin in the Rocky Mountain area of Wyoming. The company refers to its four leases as the SE Jonah Prospect. The SE Jonah Prospect is spread over 3,744.57 acres and is located six miles southeast of the Jonah Field. Schlumberger Data and Consulting Services has prepared a technical report on the SE Jonah Prospect for analysis and development appraisal of the property. The report concluded that further study was needed to proceed with any drilling operations. The report did not evaluate a portion of land in the southwestern area of the SE Jonah Prospect that covers roughly 1,300 acres. The report also concluded that there was a good possibility of productive hydrocarbons being encountered in the prospect and the surrounding area. While the geological, petrophysical, and engineering conditions are similar to the Jonah Field, the one difference is the lower pressure gradient in the prospect area, which will result in lower production rates. Additionally, Schlumberger's report recommended that additional seismic data should be acquired over the SE Jonah Prospect allowing for more subsurface control and better positioning of drilling locations and additional seismic should be acquired over the prospect either by purchase or shooting. Subsequent to this report, the company's chief geological and geophysicist advisor completed an analysis of the report devising a work program to encompass the necessary additional study. Concluding that the SE Jonah acreage can be considered as exploration rather than development/production acreage, the work program consists of 11 elements divided into two phases. The first phase comprises six elements requiring data accumulation and study. The completion of phase one will provide information as to the prospects of finding producible gas and, if so, the predicted range of gas quantity in place. The second phase, which is contingent on positive results from the first phase, includes well test interpretation and investigating development drilling scenarios and production forecasting. On this basis, as of July 2010 Grid Petroleum was in discussions with consulting groups to implement the first phase of the devised work program.
History:  INCORPORATED in Nevada Nov. 15, 2006, as Sunberta Resources Inc.; name changed to Grid Petroleum Corp. Nov. 18, 2009.
 
Subsidiaries:
Sunberta Alberta
 
 
 
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Management
OfficersPosition
 Paul  WattsPresident, Chief Financial Officer & Chief Executive Officer
 Andrew  BarwickiInvestor Relations Contact

Directors
 Paul  Watts
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par1,500,000,00065,290,000
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  06/10/2010, 67.
PRINCIPAL STOCKHOLDERS: June 10, 2010, Premier Global Corp. owned 39.9% of the Common, and Paul Watts 9.2%.
 
Transfer Agent:  Island Stock Transfer   St. Petersburg , FL
 
OTC Bulletin Board( Primary): GRPR
 
ExchangeYearHighLow
OTC Bulletin Board20090.65000.5500
 
DIVIDENDS: Common $0.001 par: No cash. Common split 20-for-1, ex-Jan. 16, 2008.
 
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Annual Report
 
Income Statement
  20102009
Cost & exps.11649
Depr. & amort.Nil1
Interest exp.85
Inc. fr. contng. opers.(124)(55)
Discontd. opers.-(5)
Net income(124)(60)
Share earns. fr. contng. opers. basic & dilutedNilNil
Net income per share basic & dilutedNilNil
Avge. com. shs. (Thou.)81,42782,042
 
Balance Sheet
  20102009
Assets:
Cash & equiv.1281
Prepaid expenses and deposits6-
Tot. curr. assets1341
Net property1
Oil & gas props.80-
Total assets2151
Liabilities:
Loans pay.6155
Accts. pay.611
Accruals3115
Tot. curr. liabs.9881
STOCKHOLDERS' EQUITY:
Com. stk. p.$0.0016574
Paid-in cap.34514
Accumulated other comprehensive income45
Retained earns.(297)(173)
Total liabs.2151
Common Shares (Thou.)65,29082,042
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Interim Report   
 
Data Not Available
 
 
 
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Grid Petroleum Corp.
Symbol:  GRPR


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   Full Year 0
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2009   4(100,000)
  2009   Full Year (60,000)
  2008   Full Year (80,000)
  2007   Full Year (60,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1Nil
  2010   2Nil
  2010   3Nil
  2010   4Nil
  2010   Full Year Nil
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2009   Full Year Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year Nil
  2007   3Nil
  2007   Full Year Nil
 
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