September 20, 2014 2:58 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Gravis Oil Corporation

Company Overview

As of March 20, 2013, Gravis Oil Corporation was acquired by Petro River Oil Corp, in a reverse merger transaction. Gravis Oil Corporation, a development stage company, engages in the acquisition, exploration, and development of unproven heavy oil properties in the United States. It holds interests in various projects in Missouri, Kentucky, Montana, and Kansas. The company was formerly known as MegaWest Energy Corp. and changed its name to Gravis Oil Corporation in June 2011. Gravis Oil Corporation was incorporated in 2000 and is headquartered in Calgary, Canada.

150 Crowfoot Cres NW No 105

Suite 902

Calgary, AB T3G 3T2


Founded in 2000

6 Employees





Key Executives for Gravis Oil Corporation

Gravis Oil Corporation does not have any Key Executives recorded.

Gravis Oil Corporation Key Developments

Gravis Oil Corporation has Changed its Ticker to PTRC from GRAVF

Effective March 20, 2013, Gravis Oil Corporation changed its OTC Bulletin Board stock ticker symbol to PTRC from GRAVF.

Gravis Oil Corporation announced delayed 10-Q filing

On 03/19/2013, Gravis Oil Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Gravis Oil Corporation Announces Consolidated Unaudited Earnings Results for the First Quarter Ended July 31, 2012

Gravis Oil Corporation announced consolidated unaudited earnings results for the first quarter ended July 31, 2012. For the quarter, the company had no revenues compared to revenues of $357,216 for the quarter ended July 31, 2011. The absence of revenue is primarily attributable to a reduction or suspension of all of the company's operations by during the second quarter of 2011. Net cash used in operating activities was $462,654 compared to $1,708,799 for the same period last year. Operating loss was $499,937 against $1,498,851 a year ago. Net loss was $3,651,655 against net income of $10,960,790 a year ago. Net loss attributable to common stockholders was $3,714,053 or $0.26 per basic and diluted share against net income attributable to common stockholders of $10,924,628 or $0.78 per basic share and $0.08 per diluted share a year ago. The increase in net income loss of $14,612,445 or approximately 133% is mainly attributable to having suspended drilling operations in the fall of 2011 for liquidity reasons.

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