v2.4.0.8

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues
Oil & Gas Sales	$ 62,402	$ 76,403	$ 173,929	$ 204,037
Costs and Expenses
Cost of Revenue	158,252	133,753	480,188	475,750
Depletion and Depreciation	87,221	108,904	239,016	233,149
Derivative Expense	9,148,620	42,052	13,608,647	283,352
General and Administrative	565,254	138,497	1,996,057	1,120,675
Interest Expense	147,082	122,118	465,250	266,666
Total Expenses	10,106,429	545,324	16,789,158	2,379,592
Loss from Operations Before Income Taxes	(10,044,027)	(468,921)	(16,615,229)	(2,175,555)
Income Taxes
Net Loss	$ (10,044,027)	$ (468,921)	$ (16,615,229)	$ (2,175,555)
Loss per share--basic and diluted	$ (0.03)	$ (2.16)	$ (0.14)	$ (18.00)
Weighted average number of shares--basic and diluted	292,130,121	216,950	119,313,372	120,880

The aggregate cost of goods produced and sold and services rendered during the reporting period.

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Petron Energy II, Inc. 10-Q