**FORM      10-Q**

**000-50173**

**Superior      Oil and Gas Co.**

| NEVADA                                 |   |  87-0537621                                        |
|----------------------------------------|--------|---------------------------------------------------------|
| (state                ofincorporation) |        | (IRS                EmployerI.D.                Number) |

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| Large                accelerated filer o | Accelerated                filer o    |
|-----------------------------------------------|--------------------------------------------|
| Non-accelerated                filer o   | Smaller                reporting company x |

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**TABLE      OF CONTENTS**

|                                          |                                                                                                       | Page   |
|-----------------------------------------------|------------------------------------------------------------------------------------------------------------|--------|
| PART                I - FINANCIAL INFORMATION | 3                                                                                                          |
|                                          |                                                                                                       |   |
| Item                1.                        | Financial                Statements                                                                        | 3      |
|                                          |                                                                                                       |   |
| Item                2.                        | Management’s                Discussion and Analysis of Financial Condition and Results of Operations | 10     |
|                                          |                                                                                                       |   |
| Item                4.                        | Controls                and Procedures                                                                     | 12     |
|                                          |                                                                                                       |   |
| PART                II - OTHER INFORMATION    | 12                                                                                                         |
|                                          |                                                                                                       |   |
| Item                1.                        | Legal                Proceedings                                                                           | 12     |
|                                          |                                                                                                       |   |
| Item                2.                        | Unregistered                Sales of Equity Securities                                                     | 13     |
|                                          |                                                                                                       |   |
| Item                6.                        | Exhibits                                                                                                   | 13     |
|                                          |                                                                                                       |   |
| SIGNATURES                                    | 14                                                                                                         |

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**PART      I - FINANCIAL INFORMATION**

| **Item                1.** |   | **Financial                Statements** |
|----------------------------|--------|-----------------------------------------|

|                                                                                                                  | PAGE   |
|-----------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                  |   |
| Balance                Sheets March 31, 2008 and December 31, 2007 (Unaudited)                                        | 4      |
| Statements                of Operations for the Three Months Ended March 31, 2008 and 2007                (Unaudited) | 5      |
| Statements                of Cash Flows for the Three Months Ended March 31, 2008 and 2007                (Unaudited) | 6      |
| Notes                to Financial Statements                                                                          | 8      |

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**Superior        Oil and Gas Co.**

**Balance        Sheets**

**(unaudited)**

|                                                                                                                                                                                                                                 |   | **March                  31,****2008** |       | **December                  31,****2007** |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------|------------|-------------------------------------------|--------|
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| **ASSETS**                                                                                                                                                                                                                           |   |                                   |       |                                      |   |   |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Current                  Assets                                                                                                                                                                                                      |   |                                   |       |                                      |   |   |   |
| Cash                                                                                                                                                                                                                                 |   | $                                      | 510,991    |                                      | $      | 555,987 |   |
| Accounts                  receivable                                                                                                                                                                                                 |   |                                   | 27,355     |                                      |   | 53,899 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Total                  Current Assets                                                                                                                                                                                                |   |                                   | 538,346    |                                      |   | 609,886 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Property                  and Equipment                                                                                                                                                                                              |   |                                   |       |                                      |   |   |   |
| Oil                  and gas properties                                                                                                                                                                                              |   |                                   |       |                                      |   |   |   |
| Pipeline                  Right of Way                                                                                                                                                                                               |   |                                   | 111,600    |                                      |   | 111,600 |   |
| Unproved                  properties                                                                                                                                                                                                 |   |                                   | 1,653,089  |                                      |   | 1,857,304 |   |
|                                                                                                                                                                                                                                 |   |                                   | 1,764,689  |                                      |   | 1,968,904 |   |
| Other                  property and equipment                                                                                                                                                                                        |   |                                   |       |                                      |   |   |   |
| Leasehold                  improvements                                                                                                                                                                                              |   |                                   | 314,250    |                                      |   | - |   |
| Furniture                  and fixtures                                                                                                                                                                                              |   |                                   | 53,180     |                                      |   | 7,694 |   |
|                                                                                                                                                                                                                                 |   |                                   | 367,430    |                                      |   | 7,694 |   |
| Less                  accumulated depreciation and amortization                                                                                                                                                                      |   |                                   | (5,154     | )                                         |   | - |   |
|                                                                                                                                                                                                                                 |   |                                   | 362,276    |                                      |   | 7,694 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Total                  Property and Equipment                                                                                                                                                                                        |   |                                   | 2,126,965  |                                      |   | 1,976,598 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| **Total                  Assets**                                                                                                                                                                                                    |   | $                                      | 2,665,311  |                                      | $      | 2,586,484 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| **LIABILITIES                  AND SHAREHOLDERS' EQUITY**                                                                                                                                                                            |   |                                   |       |                                      |   |   |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Current                  Liabilities                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Accounts                  payable                                                                                                                                                                                                    |   | $                                      | 512,572    |                                      | $      | 466,164 |   |
| Deposits                  for drilling                                                                                                                                                                                               |   |                                   | 775,445    |                                      |   | 519,188 |   |
| Accrued                  salaries                                                                                                                                                                                                    |   |                                   | 202,500    |                                      |   | 180,000 |   |
|                                                                                                                                                                                                                                 |   |                                   | 1,490,517  |                                      |   | 1,165,352 |   |
| Other                  Liabilities                                                                                                                                                                                                   |   |                                   |       |                                      |   |   |   |
| Debtor                  judgment payable                                                                                                                                                                                             |   |                                   | 623,494    |                                      |   | 615,052 |   |
| Loans                  from officers                                                                                                                                                                                                 |   |                                   | 133,659    |                                      |   | 99,109 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Total                  Liabilities                                                                                                                                                                                                   |   |                                   | 2,247,670  |                                      |   | 1,879,513 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Shareholders'                  Equity                                                                                                                                                                                                |   |                                   |       |                                      |   |   |   |
| Common                  stock, $0.001 par value per share 200,000,000 shares authorized,                  26,255,582 outstanding at March 31, 2008 and 25,315,214 outstanding                  at                  December 31, 2007 |   |                                   | 26,256     |                                      |   | 25,316 |   |
| Additional                  paid-in capital                                                                                                                                                                                          |   |                                   | 4,715,475  |                                      |   | 4,493,314 |   |
| Subscriptions                  receivable                                                                                                                                                                                            |   |                                   | -          |                                      |   | (63,584 | ) |
| Accumulated                  deficit                                                                                                                                                                                                 |   |                                   | (4,324,090 | )                                         |   | (3,748,075 | ) |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Total                  Shareholders' Equity                                                                                                                                                                                          |   |                                   | 417,641    |                                      |   | 706,971 |   |
|                                                                                                                                                                                                                                 |   |                                   |       |                                      |   |   |   |
| Total                  Liabilities and Shareholders' Equity                                                                                                                                                                          |   | $                                      | 2,665,311  |                                      | $      | 2,586,484 |   |

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**Superior        Oil and Gas Co.**

**Statement        of Operations**

|                                                 |   |  **Three**             |         | **Three**             |   |
|------------------------------------------------------|--------|-----------------------------|--------------|-----------------------|--------|
|                                                 |   |  **Months Ended** |         | **Months Ended** |   |
|                                                 |   |  **March 31,**    |         | **March 31,**    |   |
|                                                 |   |  **2008**              |         | **2007**              |   |
|                                                 |   |                   |         |                  |   |
| Revenue                                              |   |                        |         |                  |   |   |   |
| Oil                                                  |   | $                           | 3,042        |                  | $      | - |   |
| Gas                                                  |   |                        | 2,834        |                  |   | - |   |
| Total                  Revenue                       |   |                        | 5,876        |                  |   | - |   |
|                                                 |   |                        |         |                  |   |   |   |
| Expenses                                             |   |                        |         |                  |   |   |   |
| Lease                  operating expenses            |   |                        | 549          |                  |   | - |   |
| Exploration                  costs                   |   |                        | 57,200       |                  |   | - |   |
| General                  and administrative          |   |                        | 510,546      |                  |   | 62,250 |   |
| Judgment                  interest                   |   |                        | 8,442        |                  |   | 8,442 |   |
| Depreciation                  and amortization       |   |                        | 5,154        |                  |   | - |   |
|                                                 |   |                        | 581,891      |                  |   | 70,692 |   |
|                                                 |   |                        |         |                  |   |   |   |
| Income                  (loss) before income taxes   |   |                        | (576,015     | )                     |   | (70,692 | ) |
|                                                 |   |                        |         |                  |   |   |   |
| Income                  tax expense (benefit)        |   |                        | -            |                  |   | - |   |
|                                                 |   |                        |         |                  |   |   |   |
| Net                  loss                            |   | **$**                       | **(576,015** | **)**                 | **$**  | **(70,692** | **)** |
|                                                 |   |                        |         |                  |   |   |   |
| Basic                  loss per Share:               |   |                        |         |                  |   |   |   |
| Weighted                  average shares outstanding |   |                        | 25,932,126   |                  |   | 21,099,214 |   |
| Loss                  per share                      |   | **$**                       | **(0.02**    | **)**                 | **$**  | **(0.00** | **)** |

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**Superior          Oil and Gas Co.**

**Statements          of Cash Flows**

**(unaudited)**

|                                                                    |   | **Three**                    |      | **Three**                    |   |
|-------------------------------------------------------------------------|--------|------------------------------|-----------|------------------------------|--------|
|                                                                    |   | **Months Ended**        |      | **Months Ended**        |   |
|                                                                    |   | **March 31, 2008** |      | **March 31, 2007** |   |
|                                                                    |   |                         |      |                         |   |
| Cash                  flows from operating activities:                  |   |                         |      |                         |   |   |   |
| Net                  loss                                               |   | $                            | (576,015  | )                            | $      | (70,692 | ) |
|                                                                    |   |                         |      |                         |   |   |   |
| Adjustment                  to reconcile net loss to net cash           |   |                         |      |                         |   |   |   |
| used                  in operating activities:                          |   |                         |      |                         |   |   |   |
|                                                                    |   |                         |      |                         |   |   |   |
| Depreciation                  and amortization                          |   |                         | 5,154     |                         |   | - |   |
| Common                  stock issued for services                       |   |                         | 151,200   |                         |   | - |   |
| Decrease                  in accounts receivable                        |   |                         | (22,056   | )                            |   | - |   |
| Increase                  in accrued salaries                           |   |                         | 22,500    |                         |   | 22,500 |   |
| Increase                  in debtor judgment payable                    |   |                         | 8,442     |                         |   | 8,442 |   |
|                                                                    |   |                         |      |                         |   |   |   |
| Net                  cash used in operating activities                  |   |                         | (410,775  | )                            |   | (39,750 | ) |
|                                                                    |   |                         |      |                         |   |   |   |
| Cash                  flows from investing activities:                  |   |                         |      |                         |   |   |   |
| Purchase                  of oil & gas leases and undeveloped wells |   |                         | (565,292  | )                            |   | 99,566 |   |
| Increase                  (decrease) in deposits for drilling           |   |                         | 256,257   |                         |   | (82,133 | ) |
| Sale                  of oil & gas leases and undeveloped wells     |   |                         | 1,000,000 |                         |   | - |   |
| Purchase                  of other property and equipment               |   |                         | (359,736  | )                            |   | - |   |
|                                                                    |   |                         |      |                         |   |   |   |
| Net                  cash provided from investing activities            |   |                         | 331,229   |                         |   | 17,433 |   |
|                                                                    |   |                         |      |                         |   |   |   |
| Cash                  flows from financing activities:                  |   |                         |      |                         |   |   |   |
| Increase                  loans from officers                           |   |                         | 34,550    |                         |   | - |   |
|                                                                    |   |                         |      |                         |   |   |   |
|                                                                    |   |                         |      |                         |   |   |   |
| Increase                  (decrease) in cash                            |   |                         | (44,996   | )                            |   | (22,317 | ) |
|                                                                    |   |                         |      |                         |   |   |   |
| Cash                  at beginning of period                            |   |                         | 555,987   |                         |   | 37,726 |   |
|                                                                    |   |                         |      |                         |   |   |   |
| Cash                  at end of period                                  |   | $                            | 510,991   |                         | $      | 15,409 |   |

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**Superior        Oil & Gas Co.**

**Statements        of Cash Flows**

**(unaudited)**

|                                                                  |   |  **Three**             |   |
|-----------------------------------------------------------------------|--------|-----------------------------|--------|
|                                                                  |   |  **Months Ended** |   | **Months Ended** |   |
|                                                                  |   |  **March 31,**    |   | **March 31,** |   |
|                                                                  |   |  **2008**              |   | **2007** |   |
|                                                                  |   |                   |   |   |   |
| **Supplemental                  Disclosure of Cash Flow Information** |   |                        |   |   |   |   |   |
| Cash                  paid during the period for:                     |   |                        |   |   |   |   |   |
|  Interest                                                        |   | $                           | -      |   | $ | - |   |
|  Income                  taxes                                   |   | $                           | -      |   | $ | - |   |
|                                                                  |   |                        |   |   |   |   |   |
| **Non                  Cash Investing and Financing Activities**      |   |                        |   |   |   |   |   |
|                                                                  |   |                        |   |   |   |   |   |
| Common                  stock issued for undeveloped wells            |   | $                           | 71,901 |   | $ | - |   |

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**Superior        Oil and Gas Co.**

**Notes        to Financial Statements**

**(unaudited)**

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**Superior        Oil and Gas Co.**

**Notes        to Financial Statements**

**(unaudited)**

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| **Item                2.** |   | **Management's                Discussion and Analysis of Financial Condition and Results of                Operations** |
|----------------------------|--------|-------------------------------------------------------------------------------------------------------------------------|

*The      following discussion and analysis should be read in conjunction with the      financial statements and the accompanying notes thereto for the period ended      March 31, 2008 and is qualified in its entirety by the foregoing and by more      detailed financial information appearing elsewhere. See "Item 1. Financial      Statements." The discussion includes management’s expectations for the      future.*

*Such      expressions of expectation are not historical in nature and are considered      forward-looking statements within the meaning of the Private Securities      Litigation Reform Act of 1995. Forward-looking statements are subject to risks      and uncertainties that may cause actual future results to differ materially      from      those expressed in any forward-looking statement. Such risks and uncertainties      are discussed in the Risk Factors section of our Annual Report on Form 10-KSB.      Copies of that filing may be obtained by contacting Gayla McCoy of our company      at 844 South Walbaum Road, Calumet, Ok 73014, telephone (405)      884-2080.*

**Results      of Operations – First      Quarter      Ended March 31, 2008 Compared to First Quarter Ended March 31,      2007**

**oil      and gas revenue**

**Lease      operating expenses **

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**Exploration      costs**

**General      and administrative**

**Depreciation      and amortization expense **

**Net      Income (Loss)**

**Material      changes in financial condition.**

|                                           |   | **03/31/08** |      | **12/31/07** |   |
|------------------------------------------------|--------|--------------|-----------|--------------|--------|
|                                           |   |         |      |         |   |
| Unproved                oil and gas properties |   | $            | 355,312   |         | $      | 1,428,728 |   |
| Exploratory                wells in progress   |   |         | 1,297,777 |         |   | 428,576 |   |
| Leasehold                improvements          |   |         | 314.250   |         |   | 0 |   |

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**Material      changes in results of operations.**

**Item      4.**
**Controls      and Procedures**

**PART      II - OTHER INFORMATION**

**Item      1.**
**Legal      Proceedings.**

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| **Item              2.** | **Unregistered                Sales of Equity Securities** |
|--------------------------|------------------------------------------------------------|

| **Item                6.** |   | **Exhibits** |
|----------------------------|--------|--------------|

| 3(i)  |   | Articles                of Incorporation                                                                                                                                                                                | *      |
|-------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| 3(ii) |   | Bylaws                                                                                                                                                                                                                  | *      |
| 10.5  |   | Purchase                and Sale Agreement entered into December 13, 2005 between Superior                Oil and                Gas Co. and William H. Foster.                                                         | **     |
| 10.6  |   | Purchase                and Sale Agreement entered into April 24, 2006 between Enerhance                Energy,                Inc. and Superior Oil and Gas Co.                                                        | **     |
| 10.7  |   | Assignment                of Oil and Gas Leases executed May 23, 2006 from Hudson Resources                Corp to                Superior Oil and Gas Co. covering lands in Kingfisher County,                Oklahoma | ***    |
| 10.8  |   | Assignment                of Oil and Gas Leases executed May 23, 2006 from Hudson Resources                Corp to                Superior Oil and Gas Co. covering lands in Canadian County,                Oklahoma   | ***    |
| 10.9  |   | Assignment                of Oil and Gas Leases executed May 23, 2006 from Hudson Resources                Corp to                Superior Oil and Gas Co. covering lands in Pushmataha County,                Oklahoma | ***    |
| 14    |   | Code                of Ethics for the Chief Executive Officer and Senior Financial                Officers.                                                                                                             | +++    |
| 16    |   | Letter                on Change in Certifying Accountant                                                                                                                                                                | *      |
| 31    |   | Certification                of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                         |   |
| 31.1  |   | Certification                of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                         |   |
| 32    |   | Certification                of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                         |   |
| 32.1  |   | Certification                of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as                adopted                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.                         |   |

| * | Previously                filed with Form 10-SB on January 31, 2003, EDGAR Accession                #0001060830-03-000019; incorporated                herein. |
|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| +++    | Previously                filed with Form 10-KSB, SEC #000-50173, on April 19, 2005; incorporated                herein.                                                         |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                             |
| **     | Previously                filed with Form 10-QSB 03-31-06 on May 22, 2006, EDGAR Accession                #0001010549-06-000326; incorporated herein.                            |
|   |                                                                                                                                                                             |
| ***    | Previously                filed with Form 8-K Current Report 05-23-06 on May 30, 2006, EDGAR                Accession #0001010549-06-000348; incorporated                herein. |

**SIGNATURES**

| Date:                May 15, 2008 | Superior                Oil and Gas Co. |
|-----------------------------------|-----------------------------------------|
|                              |                                    |   |
|                              | By                                 | */s/                Daniel Lloyd* |
|                              |                                    | Daniel                Lloyd, Chief Executive Officer |

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