--------------------------------------------------------------------------------
                                  Kirt W. James
                                    PRESIDENT
                                DP Charters, Inc.
                     34700 Pacific Coast Highway, Suite 303
                           Capistrano Beach, CA 92624
            (Name and Address of Person Authorized to Receive Notices
          and Communications on Behalf of the Person Filing Statement)
--------------------------------------------------------------------------------
                                 WITH A COPY TO:
                              WILLIAM STOCKER, ESQ
                              24843 Del Prado, #318
                              Dana Point, CA 92629
                                 (949) 248-9561
                               fax (949) 248-1688
--------------------------------------------------------------------------------

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

              [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                      For the Quarter ended March 31, 2001

                        Commission File Number:  0-27131


                                DP Charters, Inc.
        (Exact name of Small Business Issuer as specified in its charter)

Nevada                                                                88-0381258
(Jurisdiction  of  Incorporation)        (I.R.S.  Employer  Identification  No.)

34700  Pacific  Coast  Highway,  Suite  303  Capistrano  Beach  CA         92624
(Address  of  principal  executive  offices)                         (Zip  Code)

Registrant's  telephone  number,  including  area  code:         (949)  248-9561



As  of  May  21,  2001,  81,660,000  shares  of  Common  stock  were  issued and
outstanding.



Transitional  Small  Business  Disclosure  Format  (check one): yes [ ]   no [X]


                            I:  FINANCIAL  INFORMATION

                          ITEM 1. FINANCIAL STATEMENTS.

     The  financial  statements,  for  the  three  months  ended March 31, 2001,
included herein have been prepared by the Company, without audit pursuant to the
rules  and  regulations  of  the  Securities  and  Exchange  Commission. Certain
information  and  footnotes disclosure normally included in financial statements
prepared  in  accordance with generally accepted accounting principles have been
condensed  or  omitted  pursuant  to  such  rules  and regulations, although the
Company  believes  that the disclosures are adequate to make the information not
misleading.

         The  Remainder  of  this  Page  is  Intentionally  left  Blank

                                        1


                                DP CHARTERS, INC.
                          (A Development Stage Company)
                                  BALANCE SHEET
<TABLE>
<CAPTION>
<S>                                                     <C>          <C>
                                                           March 31,    December 31,
                                                            2001           2000
                                                        -----------  --------------
                                                        (Unaudited)
ASSETS
CURRENT ASSETS
Cash . . . . . . . . . . . . . . . . . . . . . . . . .  $    4,194   $         996
Notess receivable. . . . . . . . . . . . . . . . . . .           0             600
                                                        -----------  --------------
TOTAL CURRENT ASSETS . . . . . . . . . . . . . . . . .       4,194           1,596
                                                        -----------  --------------
TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . .  $    4,194   $       1,596
                                                        ===========  ==============
LIABILITIES & STOCKHOLDERS' EQUITY
LIABILITIES
Accounts payable . . . . . . . . . . . . . . . . . . .  $   58,565   $      31,980
TOTAL LIABILITIES. . . . . . . . . . . . . . . . . . .  $   58,565   $      31,980
                                                        ===========  ==============
STOCKHOLDERS' EQUITY
Common Stock, $.001 par value; authorized 100,000,000
   shares; issued and outstanding, 38,330,000 shares,
   and 38,330,000 shares respectively. . . . . . . . .      38,330          38,330
Additional Paid-In Capital . . . . . . . . . . . . . .     194,770         194,770
Accumulater Equity (Deficit) . . . . . . . . . . . . .    (287,471)       (263,484)
                                                        -----------  --------------
Total Stockholders' Equity . . . . . . . . . . . . . .     (54,371)        (30,384)
                                                        -----------  --------------
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY . . . . . . .  $    4,194   $       1,596
                                                        ===========  ==============
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                        2


                                DP CHARTERS, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>
<S>                                      <C>                 <C>             <C>
                                                                                    From
                                                                               Inception on
                                                        For the Quarters       December 18,
                                                         ended March 31,       1997 through
                                                                                  March 31,
                                                      2001            2000           2001
                                         ------------------  --------------  -------------
Revenues. . . . . . . . . . . . . . . .  $           2,606             -0-   $      7,606
                                         ------------------  --------------  -------------
General and Administrative expense. . .             26,593          36,980        283,077
                                         ------------------  --------------  -------------
Net loss from operations. . . . . . . .            (23,987)        (36,980)      (275,471)
Cumulative Effect of Accounting Change.                  0               0        (12,000)
Net Income (Loss) . . . . . . . . . . .           ($23,987)       ($36,980)     ($287,471)
                                         ==================  ==============  =============
Loss per Share. . . . . . . . . . . . .  $        (0.00063)  $    (0.00027)  $   (0.00216)
                                         ==================  ==============  =============
Weighted Average
    Shares Outstanding. . . . . . . . .         38,330,000     138,280,000    133,018,461
                                         ==================  ==============  =============
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                        3


                                DP CHARTERS, INC.
                          (A Development Stage Company)
             STATEMENTS OF STOCKHOLERS' EQUITY (DEFICIT)(UNAUDITED)
             For the period from inception of the Development Stage
                On December 18, 1997, through December 31, 1997,
              For the years ended December 31, 1998, 1999 and 2000
                     And for the period ended March 31, 2001
<TABLE>
<CAPTION>
<S>                               <C>           <C>            <C>             <C>          <C>
                                  Additional    Accumulated    Total Stock-
                                  Common        Par            Paid-In         Equity       holders' Equity
                                  Stock         Value          Capital           (Deficit)          (Deficit)
                                  ------------  -------------  --------------  -----------  -----------------
Common Stock issued at inception  100,000,000   $    100,000        ($80,000)  $        0   $         20,000

Sale of Common Stock . . . . . .   19,040,000         19,040          99,960            0                  0
Loss during 1997 . . . . . . . .            0              0               0         (152)                 0
                                  ------------  -------------  --------------  -----------  -----------------
Balance at December 31, 1997 . .  119,040,000        119,040          19,960         (152)           138,848
Sale of Common Stock . . . . . .   12,960,000         12,960          68,040            0                  0
Loss during 1998 . . . . . . . .            0              0               0     (191,527)
                                  ------------  -------------  --------------  -----------
Balance at December 31, 1998 . .  132,000,000   $    132,000   $      88,000    ($191,679)  $         28,321
Sale of Common Stock . . . . . .       30,000             30             570         (600)                 0
Sale of Common Stock . . . . . .    6,250,000          6,250           6,250   $       (0)                 0
Loss during 1999 . . . . . . . .            0              0               0      (39,825)                 0
                                  ------------  -------------  --------------  -----------  -----------------
Balance at December 31, 1999 . .  138,280,000        138,280          94,820     (232,104)               996
Shares cancelled . . . . . . . .  (99,950,000)       (99,950)         99,950            0                  0
Converted to notes receivable. .            0              0               0          600                  0
     Loss during 2000. . . . . .            0              0               0      (31,980)                 0
                                  ------------  -------------  --------------  -----------  -----------------
Balance at December 31, 2000 . .   38,330,000         38,330         194,770     (263,484)           (30,384)

     Loss during period. . . . .            0              0               0      (23,987)                 0
                                  ------------  -------------  --------------  -----------  -----------------
Balance at March 31, 2001. . . .   38,330,000   $     38,330   $     194,770    ($287,471)          ($54,371)
                                  ============  =============  ==============  ===========  =================
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                        4


                                DP CHARTERS, INC.
                          (A Development Stage Company)
                             STATEMENT OF CASH FLOWS
                                   (UNAUDITED)
<TABLE>
<CAPTION>
<S>                                             <C>             <C>         <C>
                                                                                  From
                                                                              Inception on
                                                                              December 18,
                                                         For the Quarters     1997 through
                                                          Ended March 31,     December 31,
                                                         2001        2000         2001
                                                --------------  ----------  -----------

Operating Activities

Net Income (Loss). . . . . . . . . . . . . . .       ($23,987)   ($31,980)   ($287,471)
Less items not effecting cash:
shares issued for services . . . . . . . . . .              0           0       12,500
organization costs . . . . . . . . . . . . . .              0           0       20,000
Increase in payables . . . . . . . . . . . . .  $      26,585   $  31,980   $   58,565
                                                --------------  ----------  -----------
Net Cash from Operations . . . . . . . . . . .          2,598           0     (196,406)
Financing Activities:
Cash Increase (Decrease) collection
of note receivable . . . . . . . . . . . . . .            600           0          600
Cash Increase (Decrease) sale of Common Stock.              0           0      200,000
                                                --------------  ----------  -----------
Cash from Financing Activities:. . . . . . . .            600           0      200,600
Net increase (decrease) in cash. . . . . . . .  $       3,198   $       0   $    4,194
Beginning Cash . . . . . . . . . . . . . . . .            996         996            0
Cash as of Statement Date. . . . . . . . . . .  $       4,194   $     996   $    4,194
                                                ==============  ==========  ===========
</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                        5


              ITEM 2. DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

 (A)  PLAN  OF  OPERATION.  Management  has  determined  that  the yacht service
segment of our business is not consistent with our efforts to pursue planned oil
and  gas  acquisition candidates.  We have since discontinued all operations and
efforts  to  raise capital for our previous business. Operations will consist of
management's  efforts  to  attract  acquisition  candidates  in  the oil and gas
exploration  industry.  We have obtained an exclusive license to certain oil and
gas  technologies,  which  will  be  utilized  to  attract potential acquisition
candidates.  No  specific  plans  have  been  developed  to utilize our licensed
technology  prior  to  a  proposed  acquisition.  More information about our new
business  can  be found in our recently filed annual report on Form 10-KSB, Item
1(c)  of  that  report.

     CASH  REQUIREMENTS  AND  OF NEED FOR ADDITIONAL FUNDS. We have an immediate
need for current capital formation to implement our new business plan. First, we
intend  to  launch  a private placement/limited offering of additional shares of
our  common  stock  in  order  to  launch our operations to identify acquisition
targets  in  the  oil  and  gas  exploration industry. We plan on utilizing  our
exclusive  license  with  TriLucent  Technology  Corp.  to  certain  oil and gas
exploration  technologies  as  an incentive to attract potential candidates. The
amount  of additional capital needed over the next twelve months is a minimum of
$250,000  to  a  maximum of $500,000. While the operations could identify a more
attractive acquisition candidate with a more substantial funding, management has
concluded  that more significant dilution of the existing shareholder base would
be  without  merit  considering  our  belief  in  the  strength  of the licensed
technologies.  It  is our plan is to use this funding to fund the administration
of  the  Company  until  an  acquisition  candidate  is  identified.

     Reference  is  made  to  Note  2,  Going  Concern, of our Audited Financial
Statements  of  December  31,  2000  (Form  10-KSB): "The accompanying financial
statements have been prepared assuming that the company will continue as a going
concern.  The  company is dependant upon raising capital to continue operations.
The  financial  statements  do not include any adjustments that might arise from
the  outcome  of  this  uncertainty. It is management's plan to raise additional
funds  to  begin  our  operations."

     Reference  is  made  to Note 3, Development Stage Company, of those Audited
Financial  Statements: "The Company is a development stage company as defined in
Financial  Accounting  Standards  Board  Statement  7.  It  is  concentrating
substantially  all of its efforts in raising capital and developing its business
operations  in  order  to  generate  significant  revenues.

     SUMMARY  OF  PRODUCT  RESEARCH  AND  DEVELOPMENT.  None.

     EXPECTED  PURCHASE OR SALE OF PLANT AND SIGNIFICANT EQUIPMENT. None at this
time.

     EXPECTED  SIGNIFICANT CHANGE IN THE NUMBER OF EMPLOYEES. None at this time.

 (B)  DISCUSSION  AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
We  have  enjoyed  minimal  revenues  from our charter/SCUBA business, $7,606.00
since  inception  December  18,  1997,  and  $2,606  in  the currently reporting
quarter.  These  revenues  are  now classified as non-recurring by reason of our
change  in  our  business  plan. Our general expenses have decreased during this
reporting quarter, as compared to the previous quarter. Having achieved our 1934
Act  Registration  and  acceptance  for quotation on the OTCBB (Over-The-Counter
Bulletin  Board), our legal and professional expenses (as a component of general
expenses)  are  less  demanding.

     These  results,  and  reported  condition,  are  not  reflective  of future
operations  or  results  expected  from  our  new  business  operations.

                                        6


 (C)  ACQUISITION  CANDIDATE.  We  are not a candidate for further acquisitions,
reverse  or  direct,  at  this  time.  We cannot rule out the possibility that a
business  combination,  with  synergy  to  our  existing  business,  may  become
attractive.  We  do  not  anticipate  any  reverse  acquisition  transaction.

II:  OTHER  INFORMATION

ITEM  1.  LEGAL  PROCEDINGS.  None

ITEM  2.  CHANGES  IN  SECURITIES.  None

ITEM  3.  DEFAULTS  ON  SENIOR  SECURITIES.  None

ITEM  4.  SUBMISSION  OF  MATTERS  TO  VOTE  OF  SECURITY  HOLDERS.  None

ITEM  5.  OTHER  INFORMATION.


 (A)  NEWLY APPOINTED DIRECTORS. It was previously reported, on Form 10KSB, that
Peter  Zouvas, Jerry Witte and David Stevenson were appointed as Directors of DP
Charters,  Inc.,  upon  closing  of  the  acquisition  of the new subsidiary, DP
Exploration  Corp. The Board of Directors Minutes, dated May 15, 2001 report the
resignation of the former directors, J. Dan Sifford, Kirt James, David Stevenson
and  Peter Zouvas and the appointment of Mark Zouvas as CFO and Director to join
Jerry  Witte,  President.

The  following  biographical  information  is  provided  for  the new directors:

     JERRY  D.  WITTE,  age  48,  serves  as  the  President and Director of the
Company.  He  has  over  twenty  years experience in the oil and gas exploration
industry.  Currently  he  is  the  President, of FEI exploration, an oil and gas
exploration  company  generating prospect using RRTs technologies in conjunction
with  traditional  exploration  tools.  From  1998  to 1999 he acted as the Vice
President  of  Exploration for Power Exploration, a start up company focusing on
using risk reduction technologies as recon exploration tools and then confirming
with  traditional  exploration  technologies.  As VP of Exploration he conducted
research  into  the  science  and  patents  behind  risk  reduction  tools.

     From  1985  to  1998  Mr.  Witte  held  the  following positions with Sonat
Exploration:  From 1997 to 1998 he held the position of Manager of Earth Science
Applications which focused on reducing cost, making better business decision and
reducing  risk  of exploration achieved by using computers and new technologies.
From  1993  to  1996  he  held  the position of Manager of Corporate Exploration
Planning  and  Special  Projects  which concentrated on workflow and exploration
strategy  analysis,  budgeting,  short  and  long-term  economic  forecast,
presentation  of  technical  sciences and company data to Directors and NY stock
analysis  community.  From  1988  to  1992  he  held  the position of Manager of
Acquisition  Evaluations  where  he was responsible for property acquisition for
Sonat  s  initial  phase of acquisition and field development, over $300 million
dollars  spent  while  more  than  doubling  the  companies  reserve  base.  300
development  wells  drilled  with 90% success.  And from 1986 to 1988 he was the
District  Geologist  responsible  for  field mapping for additional development.

     From  1982  to  1985  Mr.  Witte  worked  for Gulf Oil as a Development and
Enhanced  Recovery  Geologist.  Detailed reservoir mapping of highly faulted oil
fields  for  additional development opportunities. Last well drilled found 90 ft
of  new pay in center of a field with over 500 wells. From 1982 to 1979 he was a
Geologist  for  Reservoirs  Inc.,  where  he used Scanning Electron Microscope &
X-Ray diffraction, identify the minerals that were hindering production. He also
determined  completion  or  remedial  workover  solutions  that would reverse or
control  this  problem.

                                        7


     MARK ZOUVAS, age 38, serves as Chief Financial Officer and Director for the
Company.  He  has  a  Bachelors  Degree  in  accounting and Real Estate from the
University of California at Berkeley.  As a staff auditor with Price waterhouse,
he has performed services for clients in the banking and real estate industries.
Mr.  Zouvas  has  been involved in various venture capital transactions over the
past  ten  years.  He was a broker and an accountant in the state of California.

     Mr.  Zouvas  currently  serves  as  the  Chief  Financial  Officer of Power
Exploration, Inc. a publicly traded oil and gas exploration firm located in Fort
Worth,  Texas.  He  is  also a member of their Board of Directors.  He is also a
member  of  the  Board of Directors of eKnowledge Group, Inc., a publicly traded
online  education  firm  with  several  offices  worldwide.

     Mr.  Zouvas  brings  an increased experience level to the corporate finance
capability  of  the  Company.  His  financial, accounting and banking experience
both  domestically  and  worldwide.

     The  respective  Form  3's  have  been  filed  for  the  above  directors.

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K. Please see Exhibit 8-K attached hereto
and  incorporated  herein  by  this  reference.

                                   SIGNATURES

     Pursuant  to  the requirements of the Securities Exchange Act of 1934, this
Form  10-Q Report for the Quarter ended March 31, 2001, has been signed below by
the  following  person  on  behalf  of the Registrant and in the capacity and on
March  31,  2001  as  indicated.

Dated:  May  21,  2001

                                DP CHARTERS, INC.
                                       by


/s/Jerry  Witte              /s/Mark  Zouvas
   Jerry  Witte                 Mark  Zouvas
   president/director           CFO/director

                                        8


--------------------------------------------------------------------------------
                                   EXHIBIT 8-K

                                FEBRUARY 26, 2001
--------------------------------------------------------------------------------

                                        9


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

     PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1933

                       DATE OF REPORT:  February 26, 2001

                        COMMISSION FILE NUMBER:  0-27131



                                DP CHARTERS, INC.
             (Exact name of Registrant as specified in its charter)

   Nevada                                                             88-0381258
(Jurisdiction  of  Incorporation)        (I.R.S.  Employer  Identification  No.)

34700  Pacific  Coast  Highway,  Suite  303  Capistrano  Beach  CA         92624
(Address  of  principal  executive  offices)                         (Zip  Code)


     ITEM  2.  ACQUISITION OR DISPOSITION OF ASSETS. We had previously announced
(by  news  releases  and  filings  pursuant to section 14 of the 1934 Securities
Exchange Act) an intention to acquire TriLucent Technologies, Inc. That intended
acquisition  will  not  proceed, due in substantial part to the rapid fall of DP
Charters  share  price  and  the  general  deterioration  of  market conditions.
TriLucent  has  indicated  that  it  exercises  its  right of Termination of the
intended transaction, explaining that under current market conditions, it cannot
achieve  its  objectives  to  attract  investment  capital, as anticipated. This
acquisition  has been contingent on numerous unsatisfied conditions which do not
appear  capable  of  being  met  in  a  timely  manner,  as  contemplated in the
agreements  of  the  parties.

     DP  Charters, Inc. continues its program to further revive its original and
continuing  business  to  develop recreational tours and open-water recreational
diving  events.

                                   SIGNATURES

     Pursuant  to  the requirements of the Securities Exchange Act of 1934, this
report  has  been  signed  below  by  the  following  persons  on  behalf of the
Registrant  and  in  the  capacities  and  on  the  date  indicated.

Dated:  February  26,  2001
                                DP CHARTERS, INC.
                                       by



/s/Kirt  W.  James             /s/J.  Dan  Sifford,  Jr.
   Kirt  W.  James                J.  Dan  Sifford,  Jr.
   president/director             secretary/director

                                       10