<PAGE> 1
                        SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                                   FORM 10-QSB/A
                                  Amendment No. 2

[X]  Quarterly  Report Under Section 13 or 15(d) of the Securities  Exchange Act
of 1934

                    For the Quarter Ended: June 30, 2005

[ ]  Transition Report Under Section 13 or 15(d) of the Securities  Exchange Act
     of 1934

          For the Transition Period from _____________ to ____________

                         Commission File Number 0-25951
                                                -------

                            CONSOLIDATED ENERGY INC.
                 ----------------------------------------------
                 (Name of Small Business Issuer in its charter)

         Nevada                                          86-0852222
-------------------------------                    -------------------------
(State or other jurisdiction of                    (I.R.S. Employer I.D. No.)
 incorporation or organization)

            76 George Road, P.O. Box 537, Betsy Layne, Kentucky 41605
            ---------------------------------------------------------
              (Address of principal executive offices and Zip Code)

                                 (859) 488-0070
              ----------------------------------------------------
              (Registrant's telephone number, including area code)

            12508 West Atlantic Blvd., Coral Springs, Florida 33071
            -------------------------------------------------------
          (Former address of principal executive offices and Zip Code)

     Check whether the registrant (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for
such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days.
(1) Yes X    No     (2)  Yes X    No
       ---      ---         ---      ---
     Indicate the number of shares outstanding of each of the issuer's classes
of common stock, as of the latest practicable date.

Common Stock, Par Value $0.001                         14,361,956
-------------------------------                 ----------------------------
       Title of Class                           Number of Shares Outstanding
                                                as of July 29, 2005


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ITEM 3. CONTROLS AND PROCEDURES

Our principal executive and financial officers participated with management in
the evaluation of effectiveness of the controls and procedures required by
paragraph (b) of Rule 13a-15 or Rule 15d-15 under the Exchange Act as of the end
of the period covered by this report. That evaluation was performed subsequent
to the implementation of the changes detailed below that were designed to
address certain specific material weaknesses identified by our auditors in
conjunction with their audit of our consolidated financial statements for the
year ended December 31, 2004.

During the quarter ended June 30, 2005, we have made the following changes to
our internal controls:

 1. We have revised our banking practices to ensure that our bank accounts will
always be maintained by an authorized officer, employee or director, and
instituted new procedures to help insure that our books and records will be
properly maintained to reflect all transactions in a timely fashion.

 2. We have revised our authorization procedures to require prior approval of
expenditures up to $5,000 by an authorized officer, and above $5,000 by a
committee of the board of directors, with the additional requirement that
expenditures for equipment purchases must be supported by documentation from the
vendor.

 3. We have adopted the historical cost basis as determined under GAAP as the
appropriate valuation method for all acquisition transactions with related
parties unless the fair value of the stock issued or assets acquired is
objectively measurable and the transferor's stock ownership following the
transaction is not so significant that the transferor retains a substantial
indirect interest in the assets as a result of stock ownership in the company.

 4. We have adopted the valuation of stock issued for services based on the
listed closing price of the stock on the date we agree to issue such stock
without any discount or adjustment.

 5. We have adopted a review procedure for transactions involving the sale of
mineral interests in order to ascertain the appropriate accounting treatment.

We have moved our executive office closer to our operations site, which should
facilitate the accounting communications and the consolidation of accounting
procedures.  We have also added additional accounting personnel. We expect to
have completed the consolidation of all accounting records into the new office
by the end of August 2005.

We are in the process of making certain additional changes to improve our
internal controls, including:

 - Controlling the use of company credit cards;
 - Reconciling bank accounts to properly reflect wire transfers;
 - More frequent balancing of subsidiary and consolidated general ledgers and
immediate investigation of out of balance conditions;
 - More complete detailing supporting amounts for prepaid items and depreciation
schedules; and
 - More complete detailing of royalties accrued and paid.


Based on the changes already made, our principal executive and financial
officers have concluded that our disclosure controls and procedures (as defined
in Rule 13a-15(e) or Rule 15d-15(e) under the Exchange Act) were effective as of
the end of the period covered by this report. Due to the described changes which
have already been made, there are no longer any existing material weaknesses as
of the end of the period covered by this report.  The fact that we are
continuing to make changes merely reflects management's goal to further
strengthen the internal controls.


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The above changes in our internal controls have materially affected, or are
reasonably likely to materially affect, our internal controls over financial
reporting during the period covered by this report. However, in connection with
the preparation of the consolidated financial statements for the current
quarter, our principal executive and financial officers directed our internal
accounting staff to provide additional substantive accounting information and
data. Therefore, despite the changes in our internal controls made in response
to the material weaknesses identified, our principal executive and financial
officers believe that there are no material inaccuracies or omissions of
material facts necessary to make the statements included in this report not
misleading in light of the circumstances under which they are made.


ITEM 6. EXHIBITS

Exhibit 31.01 - Certification of Principal Executive Officer Pursuant to Section
302 of the Sarbanes-Oxley Act of 2002.

Exhibit 31.02 - Certification of Principal Financial Officer Pursuant to Section
302 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.01 - Certification of Principal Executive Officer Pursuant to Section
906 of the Sarbanes-Oxley Act of 2002.

Exhibit 32.02 - Certification of Principal Financial Officer Pursuant to Section
906 of the Sarbanes-Oxley Act of 2002.


                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                CONSOLIDATED ENERGY INC.


Date: February 14, 2006           By: /S/David Guthrie, President
                                   (Principal Executive Officer)

Date: February 14, 2006           By: /S/Robert E. Chmiel, Interim CFO
                                   (Principal Financial Officer)