**FORM      10-QSB**

**Superior      Oil and Gas Co.**

| NEVADA(state                ofincorporation) | 000-50173(Commission                File Number) | 87-0537621(IRS                EmployerI.D.                Number) |
|----------------------------------------------|--------------------------------------------------|-------------------------------------------------------------------|

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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 or Plan of                  Operation | 9      |
|                                                                                                      |   |
| Item                  3. Controls and Procedures                                                          | 11     |
|                                                                                                      |   |
| PART                  II - OTHER INFORMATION                                                              | 11     |
|                                                                                                      |   |
| Item                  1. Legal Proceedings                                                                | 11     |
|                                                                                                      |   |
| Item                  2. Unregistered Sales of Securities                                                 | 12     |
|                                                                                                      |   |
| Item                  6. Exhibits and Reports on Form 8-K                                                 | 12     |
|                                                                                                      |   |
| SIGNATURES                                                                                                | 13     |

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**PART      I - FINANCIAL INFORMATION**

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

|                                                                                                              | PAGE   |
|-------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                              |   |
| Balance                  Sheets at March 31, 2007 (Unaudited) and at December 31, 2006                  (Audited) | 4      |
| Statements                  of Operations for the Three Months Ended                                              |   |
| March                  31, 2007 and 2006 (Unaudited)                                                              | 5      |
| Statements                  of Cash Flows for the Three Months Ended                                              |   |
| March                  31, 2007 and 2006 (Unaudited)                                                              | 6      |
| Notes                  to Financial Statements                                                                    | 8      |

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**Superior        Oil and Gas Co.**

**Balance        Sheets**

**March        31, 2007 (unaudited) and December 31, 2006 (audited)**

|                                                        |   | **March                  31,** |       | **December                  31,** |   |
|-------------------------------------------------------------|--------|--------------------------------|------------|-----------------------------------|--------|
|                                                        |   | **2007**                       |       | **2006**                          |   |
| **ASSETS**                                                  |   |                           |       |                              |   |
| Current                  Assets                             |   |                           |       |                              |   |
| Cash                                                        |   | $                              | 15,409     |                              | $      | 37,726 |   |
| Excess                  costs due from investors            |   |                           | 184,941    |                              |   | - |   |
| Deferred                  drilling costs                    |   |                           | 249,933    |                              |   | 249,933 |   |
| Deferred                  tax asset                         |   |                           | 70,000     |                              |   | 70,000 |   |
|                                                        |   |                           |       |                              |   |   |   |
| Total                  Current Assets                       |   |                           | 520,283    |                              |   | 357,659 |   |
|                                                        |   |                           |       |                              |   |   |   |
| Property                  and Equipment                     |   |                           |       |                              |   |   |   |
| Oil                  and gas properties:                    |   |                           |       |                              |   |   |   |
| Pipeline                  Right-of-Way                      |   |                           | 111,600    |                              |   | 111,600 |   |
| Oil                  and gas leases undeveloped             |   |                           | 498,000    |                              |   | 498,000 |   |
| Uncompleted                  wells                          |   |                           | 899,262    |                              |   | 889,208 |   |
|                                                        |   |                           | 1,508,862  |                              |   | 1,498,808 |   |
|                                                        |   |                           |       |                              |   |   |   |
| **Total                  Assets**                           |   | $                              | 2,029,145  |                              | $      | 1,856,467 |   |
|                                                        |   |                           |       |                              |   |   |   |
| **LIABILITIES                  AND SHAREHOLDERS' EQUITY**   |   |                           |       |                              |   |   |   |
|                                                        |   |                           |       |                              |   |   |   |
| Current                  Liabilities                        |   |                           |       |                              |   |   |   |
| Accounts                  payable                           |   | $                              | 1,311,161  |                              | $      | 1,016,600 |   |
| Deposits                  for drilling                      |   |                           | 59,656     |                              |   | 141,789 |   |
| Accrued                  salaries                           |   |                           | 112,500    |                              |   | 90,000 |   |
|                                                        |   |                           | 1,483,317  |                              |   | 1,248,389 |   |
| Other                  Liabilities                          |   |                           |       |                              |   |   |   |
| Accrued                  option expense                     |   |                           | 180,000    |                              |   | 180,000 |   |
| Debtor                  judgment payable                    |   |                           | 589,726    |                              |   | 581,284 |   |
|                                                        |   |                           |       |                              |   |   |   |
| Total                  Liabilities                          |   |                           | 2,253,043  |                              |   | 2,009,673 |   |
|                                                        |   |                           |       |                              |   |   |   |
| Shareholders'                  Equity                       |   |                           |       |                              |   |   |   |
| Common                  stock, $0.001 par value per share   |   |                           |       |                              |   |   |   |
| 200,000,000                  shares authorized, 21,099,214  |   |                           |       |                              |   |   |   |
| outstanding                  at March 31, 2007 and          |   |                           |       |                              |   |   |   |
| December                  31, 2006, respectively            |   |                           | 21,100     |                              |   | 21,100 |   |
| Additional                  paid-in capital                 |   |                           | 2,596,025  |                              |   | 2,596,025 |   |
| Accumulated                  deficit                        |   |                           | (2,841,023 | )                                 |   | (2,770,331 | ) |
|                                                        |   |                           |       |                              |   |   |   |
| Total                  Shareholders' Equity                 |   |                           | (223,898   | )                                 |   | (153,206 | ) |
|                                                        |   |                           |       |                              |   |   |   |
| Total                  Liabilities and Shareholders' Equity |   | $                              | 2,029,145  |                              | $      | 1,856,467 |   |

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**Superior      Oil and Gas Co.**

**Statements        of Operations**

**For        the Three Months ended March 31, 2007 and 2006**

**(Unaudited)**

|                                                       |   | **Three**                         |        | **Three**                         |   |
|------------------------------------------------------------|--------|-----------------------------------|-------------|-----------------------------------|--------|
|                                                       |   | **Months                  Ended** |        | **Months                  Ended** |   |
|                                                       |   | **March                  31,**    |        | **March                  31,**    |   |
|                                                       |   | **2007**                          |        | **2006**                          |   |
|                                                       |   |                              |        |                              |   |
| Revenue                                                    |   | $                                 | -           |                              | $      | - |   |
|                                                       |   |                              |        |                              |   |   |   |
| Operating                  Expenses                        |   |                              |        |                              |   |   |   |
|  Administrative                                       |   |                              | 62,250      |                              |   | 168,163 |   |
|  Judgment                  interest                   |   |                              | 8,442       |                              |   | 8,442 |   |
|                                                       |   |                              | 70,692      |                              |   | 176,605 |   |
|                                                       |   |                              |        |                              |   |   |   |
| Income                  (loss) before income taxes         |   |                              | (70,692     | )                                 |   | (176,605 | ) |
|                                                       |   |                              |        |                              |   |   |   |
| Deferred                  income tax expense (benefit)     |   |                              | -           |                              |   | (70,000 | ) |
|                                                       |   |                              |        |                              |   |   |   |
| Net                  loss                                  |   | **$**                             | **(70,692** | **)**                             | **$**  | **(106,605** | **)** |
|                                                       |   |                              |        |                              |   |   |   |
| Basis                  loss per Share:                     |   |                              |        |                              |   |   |   |
|  Weighted                  average shares outstanding |   |                              | 21,099,214  |                              |   | 16,355,714 |   |
|  Loss                  per share                      |   |                              | **nil**     |                              | **$**  | **(0.01** | **)** |
|                                                       |   |                              |        |                              |   |   |   |
| Diluted                  loss per share:                   |   |                              |        |                              |   |   |   |
|  Weighted                  average shares outstanding |   |                              | 25,099,214  |                              |   | 18,970,714 |   |
|  Loss                  per share                      |   |                              | **nil**     |                              | **$**  | **(0.01** | **)** |

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**Superior      Oil and Gas Co.**

**Statements        of Cash Flows**

**For        the Three Months ended March 31, 2007 and 2006**

**(Unaudited)**

|                                                                |   | **Three**                             |     | **Three**                             |   |
|---------------------------------------------------------------------|--------|---------------------------------------|----------|---------------------------------------|--------|
|                                                                |   | **Months                    Ended**   |     | **Months                    Ended**   |   |
|                                                                |   | **March                    31, 2007** |     | **March                    31, 2006** |   |
|                                                                |   |                                  |     |                                  |   |
| Cash                    flows from operating activities:            |   |                                  |     |                                  |   |
| Net                    loss                                         |   | $                                     | (70,692  | )                                     | $      | (176,605 | ) |
|                                                                |   |                                  |     |                                  |   |   |   |
| Adjustment                    to reconcile net loss to net cash     |   |                                  |     |                                  |   |   |   |
| provided                    by (used by operating activities):      |   |                                  |     |                                  |   |   |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Common                    stock issued for services                 |   |                                  | -        |                                  |   | 212,171 |   |
| Increase                    in due from investors                   |   |                                  | (184,941 | )                                     |   | - |   |
| Increase                    in deferred drilling costs              |   |                                  | -        |                                  |   | (61,655 | ) |
| Increase                    (decrease) in accounts payable          |   |                                  | 294,561  |                                  |   | (26,017 | ) |
| Decrease                    in deposits for drilling                |   |                                  | (82,133  | )                                     |   | - |   |
| Increase                    in accrued salaries                     |   |                                  | 22,500   |                                  |   | - |   |
| Increase                    in debtor judgment payable              |   |                                  | 8,442    |                                  |   | - |   |
| Increase                    in deferred revenue                     |   |                                  | -        |                                  |   | 250,000 |   |
|                                                                |   |                                  |     |                                  |   |   |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Net                    cash provided (used) by operating activities |   |                                  | (12,263  | )                                     |   | 197,894 |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Cash                    flows from investing activities:            |   |                                  |     |                                  |   |   |   |
| Increase                    in uncompleted wells                    |   |                                  | (10,054  | )                                     |   | - |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Cash                    flows from financing activities:            |   |                                  | -        |                                  |   | - |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Increase                    (decrease) in cash                      |   |                                  | (22,317  | )                                     |   | 197,894 |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Cash                    at beginning of period                      |   |                                  | 37,726   |                                  |   | 8 |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Cash                    at end of period                            |   | $                                     | 15,409   |                                  | $      | 197,902 |   |
|                                                                |   |                                  |     |                                  |   |   |   |
| Non-cash                    activities:                             |   |                                  |     |                                  |   |   |   |
| Cash                    paid for interest                           |   | $                                     | -        |                                  | $      | - |   |
| Cash                    paid for income taxes                       |   | $                                     | -        |                                  | $      | - |   |

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**Superior        Oil and Gas Co.**

**Statements          of Cash Flows**

**For          the Three Months ended March 31, 2007 and 2006 (continued)**

**(unaudited)**

|                                                                  |   | **Three**                         |   |
|-----------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                  |   | **Months                  Ended** |   | **Months                  Ended** |   |
|                                                                  |   | **March                  31,**    |   | **March                  31,** |   |
|                                                                  |   | **2007**                          |   | **2006** |   |
|                                                                  |   |                              |   |   |   |
| **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 services                     |   | $                                 | -      |   | $ | 212,171 |   |
|                                                                  |   |                              |   |   |   |   |   |
| Common                  stock issued for oil and gas properties       |   | $                                 | -      |   | $ | - |   |
|                                                                  |   |                              |   |   |   |   |   |
| Common                  stock issued for cash                         |   | $                                 | -      |   | $ | - |   |

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**SUPERIOR          OILAND          GAS          CO.**

**NOTES          TO          FINANCIAL          STATEMENTS**

**MARCH          31, 2007**

**SELECTED        INFORMATION FOR FINANCIAL STATEMENTS**

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| **Item                2.** |   | **Management's                Discussion and Analysis or Plan of                Operation** |
|----------------------------|--------|---------------------------------------------------------------------------------------------|

*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, 2007 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 14910 Northwest 36 Street, Yukon, OK 73099, telephone (405)      350-0404.*

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**Plan      of Operation for the Next Twelve Months**

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**Off-Balance      Sheet Arrangements**

| ·   | an                obligation under a guarantee                contract, |
|--------------------|-------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ·   | a                retained or contingent interest in assets transferred to the                unconsolidated entity or similar arrangement that serves as credit,                liquidity or market risk support to such entity for such                assets, |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ·   | any                obligation, including a contingent obligation, under a contract that                would                be accounted for as a derivative instrument,                or |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

| ·   | any                obligation, including a contingent obligation, arising out of a variable                interest in an unconsolidated entity that is held by us and material                to us                where such entity provides financing, liquidity, market risk or credit                risk support to, or engages in leasing, hedging or research and                development services with us. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      3.**
**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                and Reports on Form 8-K** |
|----------------------------|--------|-----------------------------------------------------|

| **(a)** | **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.                         |   |   |

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| 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. |
|--------|---|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | +++ | 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**

|                            |                                                            |                            |
|---------------------------------|-----------------------------------------------------------------|---------------------------------|
|                            | Superior              Oil and              Gas Co.              |
|                       |                                                       |                       |
| Date:              May 18, 2007 | By:                                                   | */s/              Daniel Lloyd* |
|                            | Daniel              Lloyd, Chief Executive              Officer |

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