Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2011	Dec. 31, 2010
Current assets:
Cash and cash equivalents	$ 2,122	$ 75,699
Accounts receivable	116,971	111,928
Certificate of deposit, restricted	251,781	287,876
Restricted Cash	100	400,000
Other receivables	36,557	22,940
Prepaid expenses and other current assets	15,660	47,946
Total current assets	423,191	946,389
Oil and natural gas properties (successful efforts method of accounting):
Proved	3,907,957	3,903,407
Unproved	172,796	172,796
[OilAndGasPropertySuccessfulEffortMethodGross]	4,080,753	4,076,203
Less accumulated depletion, depreciation and amortization	(3,279,859)	(3,236,504)
Oil and natural gas properties, net	800,894	839,699
Property and equipment:
Land	112,961	112,961
Buildings	215,445	215,445
Property improvements	199,500	244,025
Office equipment and computers	34,039	34,039
Furniture and fixtures	22,937	22,937
Field service vehicles and equipment	342,923	342,923
Drilling equipment	93,096	93,096
Total property and equipment	1,020,901	1,065,426
Less accumulated depreciation	(412,154)	(417,411)
Property and equipment, net	608,747	648,015
Other assets	167,928	225,006
Total assets	2,000,760	2,659,109
Current liabilities:
Accounts payable	2,522,827	2,452,238
Interest payable	1,951,167	1,386,658
Accrued payroll and related taxes and benefits	1,759,073	1,338,161
Accrued liabilities	350,688	831,575
Derivative liability	1,835	6,797
Production payment payable, current	9,980,069	9,243,325
Notes payable	612,500	612,500
Notes payable, in default	625,000	625,000
Related party notes payable in default	8,815,469	7,370,333
Related party notes payable	2,275,959	2,822,775
Convertible notes payable to related parties in default, net of discount	700,000	700,000
Total current liabilities	29,594,587	27,389,362
Deferred revenue	40,000	45,000
Asset retirement obligation	1,605,930	1,519,600
Total liabilities	31,240,517	28,953,962
Stockholders’ deficit:
Preferred stock, $0.00001 par value; 50,000,000 shares authorized; 545,454 and 545,454 shares issued and outstanding at June 30, 2011 and December 31, 2010 respectively	5	5
Common stock, $0.00001 par value; 250,000,000 shares authorized; 44,720,028 and 44,715,528 shares issued and 44,719,189 and 44,714,689 shares outstanding at June 30, 2011 and December 31, 2010, respectively	450	450
Stock payable	2,332,615	2,332,525
Stock held in escrow		(447,287)
Additional paid-in capital	104,880,688	104,850,672
Accumulated deficit	(136,453,515)	(133,031,218)
Treasury stock, at cost (839 shares held at June 30, 2011 and December 31, 2010, respectively)	0	0
Total stockholders’ deficit	(29,239,757)	(26,294,853)
Total liabilities and stockholders’ deficit	$ 2,000,760	$ 2,659,109

Conquest Petroleum Inc 10-Q/A