Attached files

file filename
S-1/A - SUBPRIME ADVANTAGE S-1A8 - Citadel Exploration, Inc.s-1a8.htm
EX-5 - OPINION OF STOECKLEIN LAW GROUP - Citadel Exploration, Inc.ex5.htm
EX-4.B - BYLAWS - Citadel Exploration, Inc.ex4b.htm
EX-4.C - CERTIFICATE OF SPECIMEN - Citadel Exploration, Inc.ex4c.htm
EX-4.A - ARTICLES OF INCORPORATION - Citadel Exploration, Inc.ex4a.htm
EX-3.1 - ARTICLES OF INCORPORATION - Citadel Exploration, Inc.ex3ia.htm
EX-23.1 - CONSENT OF DEJOYA GRIFFITH - Citadel Exploration, Inc.ex23-1.htm
EX-10.5 - PROMISSORY NOTE DATED JULY 13-2010 - Citadel Exploration, Inc.ex10-5.htm
EX-3.2 - BYLAWS - Citadel Exploration, Inc.ex3iia.htm
EX-10.2 - WAIVER FROM STOECKLEIN LAW GROUP - Citadel Exploration, Inc.ex10-2.htm
EX-10.3 - REAL ESTATE PURCHASE AGREEMENT - Citadel Exploration, Inc.ex10-3.htm
EX-10.1 - SUBSCRIPTION AGREEMENT - Citadel Exploration, Inc.ex10-1.htm
EX-23.2 - CONSENT OF STOECKLEIN LAW GROUP - Citadel Exploration, Inc.ex23-2.htm
EX-10.4 - PROMISSORY NOTE DATED JUNE 7-2010 - Citadel Exploration, Inc.ex10-4.htm
EXHIBIT 11

Statement of Computation of Per Share Earnings

Earnings per share

The Company follows Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 260 "Earnings Per Share" ("FASB ASC 260"). Basic earning per common share ("EPS") calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earning per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.