OTC Bulletin Board

S & P Company Insight for BLACKSANDS PETROLEUM
 
 Profile

 
Business Summary: Blacksands Petroleum, Inc., through its subsidiary, Access Energy Inc., engages in the exploration and development of unconventional oil and gas projects in Canada.
 
Address
  645 7 Ave SW Suite 1250
  Calgary , AB T2P4G8
  Phone: 403-806-1667
  Website: http://www.blacksandspetroleum.com
Auditor
  Sherb & Co.
  New York
Transfer Agent
  Continental Stock & Transfer Co.
ShareHolders:  43
Founded:  2004
Domicile:  Nevada
 
  
 
 Background

 
Blacksands Petroleum, Inc., through its subsidiary, Access Energy Inc., engages in the exploration and development of unconventional oil and gas projects in Canada. It primarily focuses on the exploration for oil sands deposits in the A10 Project in western Saskatchewan and La Loche Project in northwestern Saskatchewan. The company was formerly known as Lam Liang Corp. and changed its name to Blacksands Petroleum, Inc. in June 2006. Blacksands Petroleum, Inc. was founded in 2004 and is headquartered in Toronto, Canada.
History:  INCORPORATED in Nevada Oct. 12, 2004 as Lam Liang Corp. Name changed to Blacksands Petroleum, Inc. June 9, 2006. August 3, 2007 (effective July 31, 2007), acquired 600 newly issued shares of Access Energy Inc. (incorporated in Ontario Aug. 26, 2005), representing 75.0% of the common stock of that company, for Canadian Dollar 3.428 million (U.S. Dollar 3.235 million) and warrants to acquire 1,500,000 shares of the company's common stock.
 
Subsidiaries:
Access Energy Inc.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Mark  HolcombePresident & Chief Executive Officer
 Richard  WilsonInvestor Relations Contact
 Richard  WilsonChief Financial Officer & Chief Accounting Officer
 Jennifer  DawsonSecretary & Controller

Directors
 Mark  Holcombe
 Bruno J. Mosiman
 Paul A. Parisotto
 Richard  Wilson
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20082007
EXPENSES
Management and Directors' Fees(319,929)(154,296)
Office & AdministratiOn(136,978)(171,653)
Professional Fees(616,882)(616,629)
Exploration Expenses(905,691)(1,772,481)
Depreciation(3,076)(8,124)
Interest Income141,846405,691
Currency Translation Gain(Loss)263,868(567,111)
Funding on Behalf of Minority Stockholder(276,399)(261,656)
Loss on Disposal of Fixed Assets(12,588)-
Earnings before Taxes(1,865,829)(3,146,259)
TAXES AND OTHER EXPENSES
Minority Interest (After Tax)301,739194,749
Net Income (Loss)(1,564,090)(2,951,510)
SUPPLEMENTARY INFO
Operating Income (Loss)(1,995,144.00)(2,723,183.00)
Basic and diluted Eps-continuing Operations(0.03)(0.07)
 
Balance Sheet
  20082007
CURRENT ASSETS
Cash and Cash Equivalents2,610,2326,548,707
Short-term Investments835,418-
Accounts Receivables105,929-
Prepaid Expenses and Deposit6,55420,634
Cash Held in Attorney's Trust Account-44,396
Total Current Assets3,558,1336,613,737
NON CURRENT ASSETS
Oil and Gas Property Costs3,685,5224,626,809
Property and Equipment, net-25,306
Total Assets7,243,65511,265,852
CURRENT LIABILITIES
Accounts Payable and Accrued Liabilities301,710589,855
Accounts Payable to Related Parties72,520275,022
Total Current Liabilities374,230864,877
NON CURRENT LIABILITIES
Minority Interest485,003503,364
SHAREHOLDERS' EQUITY
Common Stock-par Value74,85574,855
Additional Paid in Capital11,861,46511,853,355
Treasury Stock-common(50,000)(50,000)
Deficit Accumulated during the Exploration Stages(4,838,178)(3,274,088)
Accumulated Comprehensive (Loss) Income(663,720)1,293,489
Total Shareholders Equity6,384,4229,897,611
Total Liabilities & Shareholders Equity7,243,65511,265,852
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   1Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year Nil
  2007   3Nil
  2007   Full Year Nil
  2006   Full Year Nil
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2009   1Nil
  2009   2Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2008   Full Year (1,560,000)
  2007   3(160,000)
  2007   Full Year (1,720,000)
  2006   Full Year (310,000)
  2005   Full Year (10,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2009   1(.01)
  2009   2(.08)
  2008   1(.01)
  2008   2Nil
  2008   3Nil
  2008   4(.02)
  2008   Full Year (.03)
  2007   1Nil
  2007   2(.02)
  2007   3Nil
  2007   4(.01)
  2007   Full Year (.07)
  2006   1Nil
  2006   2Nil
  2006   3Nil
  2006   4Nil
  2006   Full Year Nil
  2005   1Nil
  2005   2Nil
  2005   3Nil
  2005   4Nil
  2005   Full Year Nil
 
  
 
 Stock Data

 
 
Capitalization as of 10/31/2008:
 
 Authorized SharesOutstanding Shares
Common $0.001 par300,000,00044,854,700so1
Preferred $0.001 par10,000,000None
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
COMMON OFFERED: February 15, 2005, the company offered 1,100,000 common shares at $0.05 per share on a best efforts, all-or-none basis in a self-underwritten offering. UNITS SOLD PRIVATELY: August 9, 2006, the company completed a private placement of 10,854,700 units at $1.00 per unit, for gross proceeds of $10,854,700. Each unit consisted of one common share and one warrant to purchase one additional common share at $3.00 per share for a period of two years beginning Oct. 1, 2006.
 
Stockholders:  01/28/2009, 43.
Transfer Agent:  Continental Stock & Transfer Co.   New York , NY
 
OTC Bulletin Board( Primary): BSPE
 
ExchangeYearHighLow
OTC Bulletin Board20082.25000.1000
OTC Bulletin Board20075.00001.7500
OTC Bulletin Board20062.10002.0000
 
DIVIDENDS: Common $0.001 par: No cash. Common split 30-for-1, June 22, 2006.
 
 
  so1Incl. treas. shares.