v3.2.0.727

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUE
Oil and Gas Revenues	$ 125,950	$ 171,022	$ 286,702	$ 305,282
Administrative Revenues	2,175	2,175	5,100	5,100
TOTAL REVENUE	128,125	173,197	291,802	310,382
OPERATING EXPENSES
Lease operating expenses	$ 49,577	$ 113,878	$ 239,504	253,136
Bad debt expense				$ 12,660
Recovery of bad debt			$ (47,232)
Accretion expense	$ 3,000	$ 3,000	6,000	$ 6,186
Depletion expense	6,871	25,655	17,414	45,542
General and administrative	168,489	145,078	256,770	399,312
Total Operating Expenses	227,937	287,611	472,456	716,836
Net Loss Before Other Expenses	$ (99,812)	(114,414)	(180,654)	(406,454)
Other Income (Expense)
Interest Income (expense)		(74,804)	$ 4	(179,540)
Gain on embedded derivatives		40,661		$ 126,397
Other income		102,810
Total other income (expense)		68,667	$ 4	$ (53,143)
Net Loss	$ (99,812)	$ (45,747)	$ (180,650)	$ (459,597)
Loss per share-Basic and Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average number of shares outstanding-Basic and Diluted	321,867,909	100,147,625	321,867,909	98,401,988
Loss per share-Diluted	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)

Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 410

-SubTopic 20

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6392676&loc=d3e7480-110848

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 420

-SubTopic 10

-Section 35

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6394232&loc=d3e17558-110866

United American Petroleum Corp. 10-Q