Oakridge Energy, Inc - Oil and gas properties, at cost, using the...

Oakridge Energy, Inc - Recent Material Event

Item 1. Financial Statements

Balance Sheets at
August 31, 2007 (Unaudited) and February 28, 2007 (Audited)

Statements of Operations (Unaudited)
For the Three and Six Months Ended August 31, 2007 and 2006

Statements of Cash Flows (Unaudited)
For the Six Months Ended August 31, 2007 and 2006

Notes to Financial Statements

Item 2. Management’s Discussion and Analysis or Plan of Operation

Item 3. Controls and Procedures

Part II – Other Information
Item 6. Exhibits

Signatures

OAKRIDGE ENERGY, INC.

BALANCE SHEETS

	August 31,		February 28,

	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	2,348,090	$	2,410,827
Trade accounts receivable	224,928		275,953
Investment securities available for sale	70,516		101,138
Prepaid expenses and other	11,646		19,187
Total current assets	2,655,180		2,807,105

Oil and gas properties, at cost, using the successful efforts method of accounting, net of accumulated depletion and depreciation of $6,291,911 and $6,275,612, respectively	1,016,877		974,749

Coal and gravel properties, at cost, net of accumulated depreciation of $7,923,719 at August 31 and February 28, 2007	260,488		260,488

Other property and equipment, net of accumulated depreciation of $404,581 and $430,819, respectively	147,369		159,503

Real estate held for sale	3,074,857		3,074,857

Deferred income taxes	184,742		139,582

Other non-current assets	852,079		852,079

Total assets	$	8,191,592	$	8,268,363

	August 31,			February 28,

	(Unaudited)
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	224,655		$	278,190
Accrued expenses	95,150			49,684
Current portion of asset retirement obligations	87,221			80,155
Total current liabilities	407,026			408,029

Asset retirement obligations	432,818			425,023
Total liabilities	839,844			833,052

Stockholders’ equity:
Common stock, par value $.04 per share, 20,000,000 shares authorized, 10,157,803 shares issued	406,312			406,312
Additional paid-in capital	805,092			805,092
Retained earnings	16,529,913			16,582,854
Accumulated other comprehensive loss	(38,375		)	(7,753		)
Stockholders’ equity before treasury stock	17,702,942			17,786,505
Less treasury stock, at cost; 5,894,886 shares	10,351,194			10,351,194
Total stockholders’ equity	7,351,748			7,435,311

Total liabilities and stockholders’ equity	$	8,191,592		$	8,268,363

OAKRIDGE ENERGY, INC.

STATEMENTS OF OPERATIONS

(UNAUDITED)