UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER
000-51241
CUSIP NUMBER
98-0443283
(Check one): x Form 10-K | Form 20-F | o Form 11-K | o Form 10-Q | [ | ] Form 10-D | o Form N-SAR |
o Form N-CSR
For Period Ended: December 31, 2006
o Transition Report on Form 10-K
o Transition Report on Form 20-F
o Transition Report on Form 11-K
o Transition Report on Form 10-Q
o Transition Report on Form N-SAR
For the Transition Period Ended:
Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION Source Petroleum Inc. |
N/A |
Suite 620, 304 – 8th Avenue, S.W. Calgary, Alberta V5Z 4R3, Canada |
PART 11 - RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate).
x | (a) | The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense; |
x | (b) | The subject annual report, semi-annual report, transition report on Form 10-K, Form 10-KSB, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and |
o | (c) | The accountant’s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
| - 2 - |
PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K and 10-KSB, 20-F, 11-K, 10-Q, N-SAR, or the transition report on portion thereof, could not be filed within the prescribed time period.
The Registrant is unable to file, without unreasonable effort and expense, its Annual Report on Form 10-KSB for the year ended December 31, 2006 because the Registrant's auditors have not yet had an opportunity to complete their review of the audited financial statements.
The Registrant’s auditors are finalizing the audited financial statements and it is anticipated that the Form 10-KSB Annual Report, along with the audited financial statements, will be filed on or before the 15th calendar day following the prescribed due date of the Registrant’s Form 10-KSB.
PART IV - OTHER INFORMATION
(1)
| Name and telephone number of person to contact in regard to this notification
Hussein Charanek, 403.444.2893 x 223
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(2) |
Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).
|
x Yes |
(3) |
Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
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o Yes |
| If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made
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SOURCE PETROLEUM INC.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 2, 2007
By: /s/ Hussein Charanek
Hussein Charanek
Chief Executive Officer, Chief Financial Officer & President and Director
(Principal Executive Officer and Principal Financial Officer and
Principal Accounting Officer)