The game will be most interesting if you try to imagine you're doing this for real. Don't just guess, think carefully about what to do at each turn.
If you're not used to accounting conventions, it may seem strange for net worth to be shown in the liabilities column. Believe it or not, there's a sensible reason. By putting net worth under liabilities, the totals of the asset and liabilities columns will always be equal. This makes it easy to see what part of the firm's assets can be claimed by creditors (liabilities in the usual sense) and what part is left for the owners (the net worth). If this still isn't clear, just think of net worth as an amount the firm "owes" its owners.
The right-most column shows some information that would not ordinarily appear on a firm's balance sheet. In this case, it shows the number of barrels of oil you own, the price of oil this year, and the futures price of oil for delivery next year (Price Next). In this game there will not be any random shocks, so the futures price will be exactly equal to the true price of oil next year.
When you borrow money, you must pay interest (surprise!). Each year you will have to pay 10% interest on your outstanding loans at the beginning of the year. This is the amount shown on the balance sheet as "Int Payable". One very important thing to remember is that the bank doesn't accept oil -- you must pay interest in cash. That means you must have enough cash on hand at the end of each turn to meet your interest payments (after any buying, selling, borrowing and repaying activities). If you do not have enough cash you will default on your loans and the game will be over. The game will be very frustrating if you don't keep this rule in mind.
It may help to know that during each turn your instructions will be processed in the following order: borrowing, selling, buying, and repaying (not all of these will apply in every turn). After that, interest payments will be deducted from your cash balance. This is important if you give conflicting instructions. Suppose you had $400 in cash and asked to buy 10 barrels of oil when the price was $25, and also said you'd like to repay $300 worth of loans. To do that would require $550, which is more cash than you had on hand. You'd end up buying the 10 barrels of oil and repaying only $150 of loans instead of $300. This would also leave you with no cash so you'd be in trouble when it came time to pay interest.
The game ends at the beginning of year 11. Your score will be your net worth at that point. The game will also tell you how well you did relative to "par", a high score but not the maximum possible. If you can beat par, your're doing very well.
Click on the link below to begin the game.