**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      D.C. 20549**

**FORM      10-QSB**

**[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934**

**For      the Quarterly Period Ended April 30, 2007**

**[      ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT      OF      1934**

**For      the Transition Period from _________ to _________**

**Commission      file number: 000-50190**

**TATONKA      OIL AND GAS, INC.**

| **Colorado**                                                                  | **47-0877018**                                   |
|-------------------------------------------------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) | (IRS                Employer Identification No.) |

----

**TATONKA      OIL AND GAS, INC.**

| Consolidated                  Balance Sheets:                                                                                                                                         |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|
| April                30, 2007 (Unaudited) and October 31, 2006                (Audited)                                                                                               |   |   | 3      |   |
|                                                                                                                                                                                  |   |   |   |   |
| Consolidated                  Statements of Operations:                                                                                                                               |   |   |   |   |
| Three                  and Six Months Ended April 30, 2007 and 2006 (Unaudited)                  and                                                                                  |   |   |   |   |
| Period                  from May 22, 2001 (Date of Inception) to April 30, 2007                  (Unaudited)                                                                          |   |   | 4      |   |
|                                                                                                                                                                                  |   |   |   |   |
| Consolidated                  Statements of Cash Flows:                                                                                                                               |   |   |   |   |
| Six                  Months Ended April 30, 2007 and 2006 (Unaudited) and eriod from                  May 22,                  2001 (Date of Inception) to April 30, 2007 (Unaudited) |   |   | 5      |   |
|                                                                                                                                                                                  |   |   |   |   |
| Notes                  to Unaudited Consolidated Financial Statements:April 30,                  2007                                                                                 |   |   | 6-10   |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  2. Management                  Discussion and Analysis                                                                                                          |   |   | 14     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  3. Controls                  and Procedures                                                                                                                     |   |   | 20     |   |
|                                                                                                                                                                                  |   |   |   |   |
| PART                  II. OTHER INFORMATION                                                                                                                                           |   |   |   |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  1. Legal                  Proceedings                                                                                                                           |   |   | 21     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  2. Unregistered                  Sales of Equity Securities and Use of Proceeds                                                                                 |   |   | 21     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  3. Defaults                  Upon Senior Securities                                                                                                             |   |   | 21     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  4. Submission                  of Matters to a Vote of Security Holders                                                                                         |   |   | 21     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  5. Other                  Information                                                                                                                           |   |   | 21     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Item                  6. Exhibits                                                                                                                                                     |   |   | 21     |   |
|                                                                                                                                                                                  |   |   |   |   |
| Signatures                                                                                                                                                                            |   |   | 22     |   |

----

**TATONKA      OIL AND GAS, INC.**

|                                                                                                                                                                                                                         |   | April                30, |   | October                31, |       |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------|--------|----------------------------|------------|
| **ASSETS**                                                                                                                                                                                                                   |   | 2007                     |   | 2006                       |       |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |
| Current                Assets                                                                                                                                                                                                |   |                     |   |                       |       |
| Cash                and cash equivalents                                                                                                                                                                                     | $      | 13,358                   |   | $                          | 4,441,467  |   |
| Prepaid                Expenses                                                                                                                                                                                              |   | 23,909                   |   |                       | -          |   |
| Total                Current Assets                                                                                                                                                                                          |   | 37,267                   |   |                       | 4,441,467  |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Well                Equipment - Note 3                                                                                                                                                                                       |   | 161,534                  |   |                       | -          |   |
| Fixed                Assets - Note 3                                                                                                                                                                                         |   | 183,574                  |   |                       | 27,368     |   |
| Oil                and gas properties - Note 4                                                                                                                                                                               |   | 4,103,695                |   |                       | 1,950,126  |   |
| Long                term deposits                                                                                                                                                                                            |   | 228,718                  |   |                       | 30,000     |   |
| Goodwill                - Note 1                                                                                                                                                                                             |   | 6,940,918                |   |                       | 6,940,918  |   |
| Total                Assets                                                                                                                                                                                                  | $      | 11,655,706               |   | $                          | 13,389,879 |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| **LIABILITIES                AND STOCKHOLDERS’ EQUITY**                                                                                                                                                                |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Current                Liabilities                                                                                                                                                                                           |   |                     |   |                       |       |   |
| Accounts                payable and accrued liabilities                                                                                                                                                                      | $      | 866,470                  |   | $                          | 490,351    |   |
| Due                to related parties - Note 5                                                                                                                                                                               |   | 407,301                  |   |                       | 897,861    |   |
| Total                Current Liabilities                                                                                                                                                                                     |   | 1,273,771                |   |                       | 1,388,212  |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Total                Liabilities                                                                                                                                                                                             |   | 1,273,771                |   |                       | 1,388,212  |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Stockholders’                Equity                                                                                                                                                                                    |   |                     |   |                       |       |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Preferred                stock                                                                                                                                                                                               |   |                     |   |                       |       |   |
| 25,000,000shares                authorized at $0.001 par value, none issued or outstanding                                                                                                                                   |   |                     |   |                       |       |   |
| Common                stock                                                                                                                                                                                                  |   |                     |   |                       |       |   |
| 100,000,000shares                authorized at $0.00025 par value, 55,000,000 and 45,000,000 shares                issued                and outstanding at April 30, 2007 and October 31, 2006,                respectively |   | 13,750                   |   |                       | 11,250     |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Additional                paid-in capital                                                                                                                                                                                    |   | 12,881,839               |   |                       | 7,497,750  |   |
| Common                stock to be issued                                                                                                                                                                                     |   | -                        |   |                       | 4,613,306  |   |
| Deficit                accumulated during the exploration stage                                                                                                                                                              |   | (2,513,654               | )      |                       | (120,639   | ) |
| Total                Stockholders’ Equity                                                                                                                                                                              |   | 10,381,935               |   |                       | 12,001,667 |   |
|                                                                                                                                                                                                                         |   |                     |   |                       |       |   |
| Total                Liabilities and Stockholders’ Equity                                                                                                                                                              | $      | 11,655,706               |   | $                          | 13,389,879 |   |

----

**TATONKA      OIL AND GAS, INC.**

|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       | May                22, 2001 |   |
|--------------------------------------------------------------|--------|-----------------------------------------------------------|------------|-----------------------------------------------------------------------------|--------|--------------------------------------------------------------------|--------|--------|------------|-----------------------------|--------|
|                                                         |   | Three                months endedApril                30, |       |                Six                months endedApril                30, |   | (Date                  of Inception) to                  April 30, |   |
|                                                         |   | 2007                                                      |       | 2006                                                                        |   | 2007                                                               |   | 2006   |       | 2007                        |   |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |
| Expenses                                                     |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |
| Consulting                                                   |   |                                                      | 181,216    |                                                                        |   | -                                                                  |   |   | 315,971    |                        |   | - |   |   | 315,971 |   |
| Depreciation                                                 |   |                                                      | 16,276     |                                                                        |   | -                                                                  |   |   | 23,208     |                        |   | - |   |   | 23,208 |   |
| Expired                leases                                |   |                                                      | -          |                                                                        |   | -                                                                  |   |   | 78,038     |                        |   | - |   |   | 78,038 |   |
| General                and administrative                    |   |                                                      | 28,375     |                                                                        |   | 3,061                                                              |   |   | 51,077     |                        |   | 6,606 |   |   | 79,176 |   |
| Insurance                                                    |   |                                                      | 20,353     |                                                                        |   | -                                                                  |   |   | 53,885     |                        |   | - |   |   | 53,885 |   |
| Mineral                property costs                        |   |                                                      | -          |                                                                        |   | -                                                                  |   |   | -          |                        |   | - |   |   | 25,500 |   |
| Payroll                Expenses                              |   |                                                      | 22,967     |                                                                        |   |                                                                    |   |   | 48,693     |                        |   |   |   |   | 48,693 |   |
| Professional                fees                             |   |                                                      | 92,513     |                                                                        |   | -                                                                  |   |   | 145,891    |                        |   | - |   |   | 217,899 |   |
| Rent                                                         |   |                                                      | 59,703     |                                                                        |   | -                                                                  |   |   | 95,599     |                        |   | - |   |   | 113,599 |   |
| Software                development - Note 7                 |   |                                                      | 36,734     |                                                                        |   | -                                                                  |   |   | 91,057     |                        |   | - |   |   | 91,057 |   |
| Stock                based compensation                      |   |                                                      | 389,450    |                                                                        |   | -                                                                  |   |   | 773,283    |                        |   | - |   |   | 773,283 |   |
| Travel                and entertainment                      |   |                                                      | 111,632    |                                                                        |   | -                                                                  |   |   | 169,340    |                        |   | - |   |   | 169,340 |   |
| Wages                and benefits                            |   |                                                      | 244,878    |                                                                        |   | -                                                                  |   |   | 549,158    |                        |   | - |   |   | 549,158 |   |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |
|                                                         |   |                                                      | 1,204,097  |                                                                        |   | 3,061                                                              |   |   | 2,395,200  |                        |   | 6,606 |   |   | 2,538,807 |   |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |
| Other                Income                                  |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |
| Interest                income                               |   | $                                                         | 415        |                                                                        | $      | 5                                                                  |   | $      | 2,185      |                        | $      | 23 |   | $ | 25,153 |   |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |
| Net                loss for the period                       |   | $                                                         | (1,203,682 | )                                                                           | $      | (3,056                                                             | )      | $      | (2,393,015 | )                           | $      | (6,583 | ) | $ | (2,513,654 | ) |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |
| Basic                and diluted loss per share              |   | $                                                         | (0.02      | )                                                                           | $      | (0.00                                                              | )      | $      | (0.05      | )                           | $      | (0.00 | ) |   |   |   |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |
| Weighted                average number of shares outstanding |   |                                                      | 55,000,000 |                                                                        |   | 9,000,000                                                          |   |   | 52,666,667 |                        |   | 9,000,000 |   |   |   |   |
|                                                         |   |                                                      |       |                                                                        |   |                                                               |   |   |       |                        |   |   |   |   |   |   |

----

**TATONKA      OIL AND GAS, INC.**

|                                                                       |   |                        |   |       |   |                   |   |                      |   | Deficit      |   |         |   |
|----------------------------------------------------------------------------|--------|-----------------------------|--------|------------|--------|------------------------|--------|---------------------------|--------|--------------|--------|--------------|--------|
|                                                                       |   |                        |   |       |   |                   |   |                      |   | Accumulated  |   | Total        |   |
|                                                                       |   | Common                Stock |   | Additional |   | Shares                 |   | During                the |   | Stockholders |   |
|                                                                       |   | Number                      |   |       |   | Paid                In |   | To                be      |   | Exploration  |   | Equity       |   |
|                                                                       |   | Shares                      |   | Amount     |   | Capital                |   | Issued                    |   | Stage        |   | (Deficiency) |   |
|                                                                       |   |                        |   |       |   |                   |   |                      |   |         |   |         |   |
|                    Balance, May 22, 2001(Date of Inception) |   |                        | --     |       | $      | --                     |   | $                         | -      |         | $      | -            |   | $ | - |   | $ | - |   |

| Issuance                of common stock for cash - at $0.00025                                                                          |   |   | 36,000,000 |   |   | 9,000  |   |   | -          |   |   | -          |   |   | -          |   |   | 9,000      |   |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|--------|------------|--------|--------|------------|--------|--------|------------|--------|--------|------------|--------|
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Net                loss for the period                                                                                                  |   |   | -          |   |   | -      |   |   | -          |   |   | -          |   |   | -          |   |   | -          |   |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                October 31, 2001                                                                                                |   |   | 36,000,000 |   |   | 9,000  |   |   | -          |   |   | -          |   |   | -          |   |   | 9,000      |   |
| Net                loss for the year 2002                                                                                               |   |   | -          |   |   | -      |   |   | -          |   |   | -          |   |   | (6,300     | )      |   | (6,300     | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                October 31, 2002                                                                                                |   |   | 36,000,000 |   |   | 9,000  |   |   | -          |   |   | -          |   |   | (6,300     | )      |   | 2,700      |   |
| Net                loss for the year 2003                                                                                               |   |   | -          |   |   | -      |   |   | -          |   |   | -          |   |   | (13,045    | )      |   | (13,045    | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                October 31, 2003                                                                                                |   |   | 36,000,000 |   |   | 9,000  |   |   | -          |   |   | -          |   |   | (19,345    | )      |   | (10,345    | )      |
| Net                loss for the year 2004                                                                                               |   |   | -          |   |   | -      |   |   | -          |   |   | -          |   |   | (23,233    | )      |   | (23,233    | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                October 31, 2004                                                                                                |   |   | 36,000,000 |   |   | 9,000  |   |   | -          |   |   | -          |   |   | (42,578    | )      |   | (33,578    | )      |
| Net                loss for the year 2005                                                                                               |   |   | -          |   |   | -      |   |   | -          |   |   | -          |   |   | (23,622    | )      |   | (23,622    | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                October 31, 2005                                                                                                |   |   | 36,000,000 |   |   | 9,000  |   |   | -          |   |   | -          |   |   | (66,200    | )      |   | (57,200    | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Cancelled                common shares                                                                                                  |   |   | (6,000,000 | )      |   | (1,500 | )      |   | 1,500      |   |   | -          |   |   | -          |   |   | --         |   |
| Issuance                of common stock on acquisition of Tatonka Oil and Gas Company, Inc.,                October 30, 2006 - at $0.50 |   |   | 15,000,000 |   |   | 3,750  |   |   | 7,496,250  |   |   | -          |   |   | -          |   |   | 7,500,000  |   |
| Private                placement proceeds                                                                                               |   |   | -          |   |   | -      |   |   | -          |   |   | 5,000,000  |   |   | -          |   |   | 5,000,000  |   |
| Less:                share issue costs                                                                                                  |   |   | -          |   |   | -      |   |   | -          |   |   | (386,694   | )      |   | -          |   |   | (386,694   | )      |
| Net                loss for the year 2006                                                                                               |   |   | -          |   |   | ---    |   |   | -          |   |   | -          |   |   | (54,439    | )      |   | (54,439    | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                October 31, 2006                                                                                                |   |   | 45,000,000 |   |   | 11,250 |   |   | 7,497,750  |   |   | 4,613,306  |   |   | (120,639   | )      |   | 12,001,667 |   |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Private                placement shares issued                -                at $0.50                                                 |   |   | 10,000,000 |   |   | 2,500  |   |   | 4,997,500  |   |   | (5,000,000 | )      |   | -          |   |   | -          |   |
| Less:                share issue costs                                                                                                  |   |   | -          |   |   | --     |   |   | (386,694   | )      |   | 386,694    |   |   | -          |   |   | -          |   |
| Stock-based                compensation                                                                                                 |   |   | -          |   |   | --     |   |   | 383,833    |   |   | -          |   |   | -          |   |   | 383,833    |   |
| Net                loss for the period                                                                                                  |   |   | -          |   |   | --     |   |   | -          |   |   | -          |   |   | (1,189,333 | )      |   | (1,189,333 | )      |
|                                                                                                                                    |   |   |       |   |   |   |   |   |       |   |   |       |   |   |       |   |   |       |   |
| Balance,                January 31, 2007                                                                                                |   |   | 55,000,000 |   | $      | 13,750 |   | $      | 12,492,389 |   | $      | -0-        |   | $      | (1,309,972 | )      | $      | 11,196,167 |   |

| Stock-based                compensation - Note 6 |   |   | -          |   |   | -      |   |   | 389,450    |   |   |   |   |   |       |   |   | 389,450    |   |
|--------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|--------|------------|--------|--------|--------|--------|--------|------------|--------|--------|------------|--------|
| Net                Loss for the period           |   |   | -          |   |   | -      |   |   | -          |   |   | -      |   |   | (1,203,682 | )      |   | (1,203,682 | )      |
|                                             |   |   |       |   |   |   |   |   |       |   |   |   |   |   |       |   |   |       |   |
| Balance,                April 30, 2007           |   |   | 55,000,000 |   | $      | 13,750 |   | $      | 12,881,839 |   | $      | -0-    |   |   | (2,513,654 | )      | $      | 10,381,935 |   |

----

**TATONKA      OIL AND GAS, INC.**

|                                                                                                        |   |                                                    |             |                                                                     |   | May                22, 2001 |   |
|-------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|------------------|--------------------------------------------------------------------------|--------|-----------------------------|--------|
|                                                                                                        |   | Six                months endedApril                30, |             | (Date                  of Inception) to                  April 30,  |   |
|                                                                                                        |   | 2007                                                    |             | 2006                                                                     |   | 2007                        |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |
| Cash                Flows from Operating Activities                                                         |   |                                                    |             |                                                                     |   |                        |   |
| Net                loss for the period                                                                      |   |                                                    | (2,393,015       | )                                                                        | $      | (6,583                      | )      | $ | (2,513,654 | ) |
| Adjustments                to reconcile net income to net cash used by operating                activities: |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Depreciation                                                                                                |   |                                                    | 23,208           |                                                                     |   | -                           |   |   | 23,208 |   |
| Stock                based compensation                                                                |   |                                                    | 773,283          |                                                                     |   | -                           |   |   | 773,283 |   |
| Changes                in non-cash working capital balances:                                                |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Current                Deposits                                                                             |   |                                                    | (198,718         | )                                                                        |   | -                           |   |   | (198,718 | ) |
| Prepaid                Expenses                                                                             |   |                                                    | (23,909          | )                                                                        |   | -                           |   |   | (23,909 | ) |
| Accounts                payable and accrued liabilities                                                     |   |                                                    | 692,813          |                                                                     |   | 4,575                       |   |   | 287,177 |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Net                cash used by operating activities                                                        |   |                                                    | (1,126,338       | )                                                                        |   | (2,008                      | )      |   | (1,652,613 | ) |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Cash                Flows used in Investing Activities                                                      |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Well                Equipment                                                                               |   |                                                    | (161,534         | )                                                                        |   | -                           |   |   | (161,534 | ) |
| Oil                and gas properties                                                                       |   |                                                    | (2,153,569       | )                                                                        |   | -                           |   |   | (2,153,569 | ) |
| Fixed                Assets                                                                                 |   |                                                    | (179,414         | )                                                                        |   | -                           |   |   | (179,414 | ) |
| Cash                acquired on acquisition of Tatonka Oil and  Gas                Company, Inc.  |   |                                                    | -                |                                                                     |   | -                           |   |   | 3,742 |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Net                cash used by investing activities                                                        |   |                                                    | (2,494,517       | )                                                                        |   | -                           |   |   | (2,490,775 | ) |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Cash                Flows from Financing Activities                                                         |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Proceeds                from issuance of common stockDue                to related parties                  |   |                                                    | (316,694(490,560 | ))                                                                       |   | -                           |   |   | 4,622,306(465,560 | ) |
| Net                cash (used) provided by financing activities                                             |   |                                                    | (807,254         | )                                                                        |   | -                           |   |   | 4,156,746 |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Increase                (decrease) in cash and cash equivalents                                             |   |                                                    | (4,428,109       | )                                                                        |   | (2,008                      | )      |   | 13,358 |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Cash                and cash equivalents, beginning of the period                                           |   |                                                    | 4,441,467        |                                                                     |   | 2,300                       |   |   | - |   |
|                                                                                                        |   |                                                    |             |                                                                     |   |                        |   |   |   |   |
| Cash                and cash equivalents, end of the period                                                 |   | $                                                       | 13,358           |                                                                     | $      | 292                         |   | $ | 13,358 |   |

----

| Note 1  | Interim Reporting and Significant Accounting              Policies |
|--------------|--------------------------------------------------------------------|
|   |   |
|--------|--------|
|   | While                the information presented in the accompanying interim six months                consolidated financial statements is unaudited, it includes all                adjustments, which are, in the opinion of management, necessary to                present                fairly the financial position, results of operations and cash flows                for                the interim periods presented in accordance with accounting principles                generally accepted in the United States of America. These interim                financial statements follow the same accounting policies and methods                of                their application as the Company’s October 31, 2006 annual consolidated                financial statements. All adjustments are of a normal recurring nature.                It                is suggested that these interim financial statements be read in                conjunction with the Company’s October 31, 2006 annual financial                statements. Certain amounts in the previous financial statements                have been                changed to conform with the presentation of the April 30, 2007 financial                statements. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
|   | Operating                results for the six months ended April 30, 2007 are not necessarily                indicative of the results that can be expected for the year ended                October                31, 2007.                Because a precise determination of many assets and liabilities is                dependent upon future events, the preparation of financial statements                for                a period necessarily involves the use of estimates which have been                made                using careful judgment. Actual results may vary from these estimates. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
|   | Basis                of Presentation |
|--------|--------------------------------------|

|   | These                consolidated financial statements include the accounts of the Company                and                its wholly-owned subsidiary, Tatonka Oil and Gas Company, Inc. All                inter-company transactions and balances have been eliminated. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Company complies with Financial Accounting Standards Board Statement                No. 7                and Securities and Exchange Commission Act Guide 7 for its                characterization of the Company as exploration                stage. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Company considers all investments purchased with a maturity of three                months or less to be cash equivalents. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Company follows the full cost method of accounting for oil and gas                operations whereby all costs of exploring for and developing oil                and gas                reserves are initially capitalized on a country-by-country (cost                centre)                basis. Such costs include land acquisition costs, geological and                geophysical expenses, carrying charges on non-producing properties,                costs                of drilling and overhead charges directly related to acquisition                and                exploration activities. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Costs                capitalized, together with the costs of production equipment, are                depleted                and amortized on the unit-of-production method based on the estimated                gross proved reserves. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Petroleum                products and reserves are converted to a common unit of measure,                using 6                MCF of natural gas to one barrel of oil. Costs of acquiring and evaluating                unproved properties are initially excluded from depletion calculations.                These unevaluated properties are assessed periodically to ascertain                whether impairment has occurred. When proved reserves are assigned                or the                property is considered to be impaired, the cost of the property or                the                amount of the impairment is added to costs subject to depletion                calculations. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Future                net cash flows from proved reserves using period-end, non-escalated                prices                and costs, are discounted to present value and compared to the carrying                value of oil and gas                properties. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Note 1 | Interim Reporting and Significant Accounting              Policies              (continued) |
|--------|---------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
|   | Oil                and Gas Properties                -                (cont’d) |
|--------|--------------------------------------------------------------------------------------|

|   | Proceeds                from a sale of petroleum and natural gas properties are applied against                capitalized costs, with no gain or loss recognized, unless such a                sale                would alter the rate of depletion by more than 20%. Royalties paid                net of                any tax credits received are netted with oil and gas sales. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Corporation recognizes the fair value of a liability for an asset                retirement obligation in the year in which it is incurred when a                reasonable estimate of fair value can be made. The carrying amount                of the                related long-lived asset is increased by the same amount as the                liability. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Changes                in the liability for an asset retirement obligation due to the passage                of                time will be measured by applying an interest method of allocation.                The                amount will be recognized as an increase in the liability and an                accretion                expense in the statement of operations. Changes resulting from revisions                to the timing or the amount of the original estimate of undiscounted                cash                flows are recognized as an increase or a decrease in the carrying                amount                of the liability for an asset retirement obligation and the related                asset                retirement cost capitalized as part of the carrying amount of the                related                long-lived asset. As at April 30, 2007, the fair value of the oil                and gas                property’s site restoration costs is                insignificant. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | In                December 2004, the Financial Accounting Standards Board issued FAS                123R                “Share-Based Payment”, a revision to FAS 123. FAS 123R replaces existing                requirements under FAS 123 and APB 25, and requires public companies                to                recognize the cost of employee services received in exchange for                equity                instruments, based on the grant-date fair value of those instruments,                with                limited exceptions. FAS 123R also affects the pattern in which                compensation cost is recognized, the accounting for employee share                purchase plans, and the accounting for income tax effects of share-based                payment transactions. For small business filers, FAS 123R will be                effective for interim or annual periods beginning after December                15, 2005.                Early adoption is permitted in periods in which financial statements                have                not yet been issued. The Company adopted FAS 123R on November 1,                2006. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Note 1  | Interim Reporting and Significant Accounting              Policies              (continued) |
|--------------|---------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
|   | Income Taxes |
|--------|--------------|
|   |   |
|--------|--------|
|   | The                Company accounts for income taxes by the asset and liability method.                Under                this method, current income taxes are recognized for the estimated                income                taxes payable for the current year. Future income tax assets and                liabilities are recognized in the current year for temporary differences                between the tax and accounting basis of assets and liabilities as                well as                for the benefit of losses available to be carried forward to future                years                for tax purposes that are likely to be                realized. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Company computes net loss per share in accordance with SFAS No. 128,                "Earnings Per Share". SFAS No. 128 requires presentation of both                basic and                diluted earnings per share (“EPS”) on the face of the income statement.                Basic EPS is computed by dividing net loss available to common                shareholders by the weighted average number of common shares outstanding                during the year. Diluted EPS gives effect to all dilutive potential                common                shares outstanding during the year including stock options, using                the                treasury stock method, and convertible preferred stock, using the                if-converted method. In computing diluted EPS, the average stock                price for                the year is used in determining the number of shares assumed to be                purchased from the exercise of stock options or warrants. Diluted                EPS                excludes all dilutive potential common shares if their effect is                anti                dilutive. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                carrying values of cash, accounts payable and accrued liabilities                and due                to related parties approximate their fair value because of the short                maturity of these instruments. It is management’s opinion that the Company                is not exposed to significant interest, currency or credit risks                arising                from these financial instruments. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| Note 2  | Nature and Continuance of Operations  |
|--------------|--------------------------------------------|

|   | The                Company was incorporated under the laws of the State of Colorado                on May                22, 2001 as New Pacific Ventures, Inc. Effective June 1, 2006, the                Company                changed its name to Tatonka Oil and Gas,                Inc. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Note 2  | Nature and Continuance of Operations                -                (cont’d) |
|--------------|-------------------------------------------------------------------------------------|

| Cash                                                             |   | $      | 3,742      |   |
|------------------------------------------------------------------|--------|--------|------------|--------|
| Deposit                                                          |   |   | 30,000     |   |
| Oil                and gas properties                            |   |   | 1,950,126  |   |
| Goodwill                                                         |   |   | 6,940,918  |   |
| Equipment                                                        |   |   | 27,368     |   |
| Current                liabilities                               |   |   | (1,452,154 | )      |
|                                                             |   |   |       |   |
| Total                acquisition cost - 15,000,000 common shares |   | $      | 7,500,000  |   |

|   | Concurrent                with the closing of the acquisition, the Company completed a private                placement of 10,000,000 common shares at $0.50 for proceeds of $5,000,000.                The Company incurred share issue costs totalling $386,694 with respect                to                this private placement. These shares were issued on December 13,                2006. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The                Company is in the exploration stage and is in the process of acquiring                and                exploring oil and gas properties located in the United States of                America.                The recoverability of amounts shown for oil and gas properties is                dependent upon the discovery of economically recoverable reserves,                confirmation of the Company’s interest therein, the ability of the Company                to obtain necessary financing to complete their development and upon                future profitable production or proceeds from their                disposition. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | These                interim consolidated financial statements have been prepared in accordance                with generally accepted accounting principles applicable to a going                concern, which assumes that the Company will be able to meet its                obligations and continue its operations for its next twelve months.                Realization values may be substantially different from carrying values                as                shown and these financial statements do not give effect to adjustments                that would be necessary to the carrying values and classification                of                assets and liabilities should the Company be unable to continue as                a going                concern. At April 30, 2007, the Company has not yet achieved profitable                operations, has insufficient working capital to fund ongoing operations                for the next fiscal year, has accumulated losses of $2,513,654 since                its                inception and expects to incur further losses in the development                of its                business, all of which casts substantial doubt about the Company’s ability                to continue as a going concern. The Company’s ability to continue as a                going concern is dependent upon its ability to generate future profitable                operations and/or to obtain the necessary financing to meet its                obligations and repay its liabilities arising from normal business                operations when they come due. Management considers that the Company                will                be able to obtain additional funds by equity financing and/or related                party advances; however there is no assurance of additional funding                being                available. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Note 3  | Fixed Assets & Well Equipment: |
|--------------|------------------------------------|
|   |   |
|--------|--------|
|   | All                fixed assets are recorded at cost. Depreciation is provided for using                the                straight-line Method as follows: |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                         |   | April                30, |    | October                31, |   |
|----------------------------------------------|--------|--------------------------|---------|----------------------------|--------|
|                                         |   | 2007                     |    | 2006                       |   |
|                                         |   |                     |    | Accumulated                |   |   |   |   |   |
| Asset                Class                   |   | Cost                     |    | Depreciation               |   | Net |   | Net |   |
| Lease                & Well equipment    |   | $                        | 68,369  |                       | $      | 3,583 |   | $ | 64,786 |   | $ | -- |   |
| Computer                hardware             |   |                     | 51,184  |                       |   | 6,488 |   |   | 44,696 |   |   | 17,412 |   |
| Computer                software             |   |                     | 83,128  |                       |   | 12,781 |   |   | 70,347 |   |   | 9,083 |   |
| Office                furniture and fixtures |   |                     | 4,101   |                       |   | 356 |   |   | 3,745 |   |   | 873 |   |
|                                         |   |                     |    |                       |   |   |   |   |   |   |   |   |   |
| Total                                        |   | $                        | 206,782 |                       | $      | 23,208 |   | $ | 183,574 |   | $ | 27,368 |   |

----

| Note 3  | Fixed Assets & Well Equipment -                (cont’d) |
|--------------|-------------------------------------------------------------------|

| Lease&Well              Equipment - Other                               |   |   | 10              years |   |
|----------------------------------------------------------------------------------|--------|--------|-----------------------|--------|
| Lease&Well              Equipment - Surface              Casings   |   |   | 2              years  |   |
| Computer              hardware                                              |   |   | 3              years  |   |
| Computer              software                                         |   |   | 2              years  |   |
| Office              furniture & fixtures                                |   |   | 5              years  |   |

| Note 4  | Oil and Gas Properties |
|--------------|------------------------|
|   |   |
|--------|--------|
|   | The                Company has acquired leases in unproved oil and gas properties located                in                Colorado and Wyoming, USA. Under the terms of the lease agreements                the                Company is required to pay its share of royalties and other obligations. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Pursuant                to such contracts, as at April 30, 2007, the Company is obligated                to pay                $313,892 to maintain the leases as follows: |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Year                end October 31, |   |   | 2007   |   | $      | 60,503  |   |
|-------------------------------------|--------|--------|--------|--------|--------|---------|--------|
|                                |   |   | 2008   |   |   | 69,325  |   |
|                                |   |   | 2009   |   |   | 67,177  |   |
|                                |   |   | 2010   |   |   | 54,778  |   |
|                                |   |   | 2011   |   |   | 19,119  |   |
|                                |   |   | 2012   |   |   | 18,940  |   |
|                                |   |   | 2013   |   |   | 9,977   |   |
|                                |   |   | 2014   |   |   | 5,998   |   |
|                                |   |   | 2015   |   |   | 5,998   |   |
|                                |   |   | 2016   |   |   | 2,077   |   |
|                                |   |   |   |   |   |    |   |
| Total                               |   |   |   |   | $      | 313,892 |   |

|   | This                amount does not contemplate funds required for exploration. |
|--------|---------------------------------------------------------------------------------|

----

| Note 5 | Related Party Transactions |
|--------|----------------------------|

| Note 6 | Stock Purchase                Options |
|--------|---------------------------------------|

|   | The                Company uses the Fair Value Method in accordance with SFAS 123R for                accounting of stock based compensation. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

|   | On                November 2, 2006, the Company approved an employee incentive stock                option                program for the issuance of up to 5,500,000 stock options, which                plan was                amended and restated on March 20, 2007. As at April 30, 2007, the                Company                had 5,025,000 stock options outstanding. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Number                of Options |   | Exercise                Price |   |
|----------------------------------|--------|-------------------------------|--------|
|                             |   |                          |   |
| 2,081,250                        |   | $                             | 0.50   |   |
| 1,040,625                        |   | $                             | 1.00   |   |
| 1,040,625                        |   | $                             | 1.25   |   |
|                             |   |                          |   |   |
| 4,162,500                        |   |                          |   |   |
|                             |   |                          |   |   |

|   | On                February 10, 2007 the Company granted 75,000 employee incentive stock                options exercisable at $1.50 until February 10, 2012. These options                vest                25% on the date of the grant and 12.5% every six months thereafter                until                fully vested. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Note                6 | Stock                Purchase Options                -                (cont’d) |
|-----------------------|--------------------------------------------------------------------------------------|

|   | The                fair value of these share purchase options which were granted during                the                three months ended April 30, 2007 was determined using the Company’s                historical stock prices and the Black-Scholes option-pricing model                with                the following assumptions: |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                 |                 |
|------------------------------------------------------|----------------------|
| Risk                free rate                        | 4.75%                |
| Dividend                yield                        | 0%                   |
| Weighted                average expected volatility  | 89%                  |
| Weighted                average expected option life | 5                yrs |

| Weighted                average fair value of options  |   | $      | 0.94      |   |
|--------------------------------------------------------|--------|--------|-----------|--------|
| Total                options outstanding               |   |   | 5,025,000 |   |
| Total                fair value of options outstanding |   | $      | 4,956,064 |   |

|   | We                do not foresee any forfeiture of options. During the three months                ended                April 30, 2007, the Company recorded stock based compensation expense                of                $389,450 in accordance with SFAS 123R. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|

|   | The                anti dilutive effect due to exercise of outstanding stock options                using                the if-converted method is negligible as these stock options convert                to                1,390,625 weighted average equivalent common shares, diluting the                loss per                share by $0.0012. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |
|--------|--------|
| Note 7   | Software & Product Development -              AWCS |
|--------------------|--------------------------------------------------------|

| Note 8   | Income Taxes |
|--------------------|--------------|

----

**ITEM      2. MANAGEMENT'S DISCUSSION AND ANALYSIS**
**      OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

**Operations      Plans **

----

**Liquidity      and Capital Resources **

**Results      of operations for the three months ended April 30, 2007 compared to the three      months ended April 30, 2006**

*Revenues*

*Operating      Expenses*

----

**Results      of operations for the six months ended April 30, 2007 compared to the six months      ended April 30, 2006**

*Revenues.*

*Operating      Expenses*

**Summary      of Significant Accounting Policies **

----

*Accounting      Estimates *

*Cash      and Cash Equivalents*

*Exploration      Stage Company *

*Oil      and Gas Properties*

*Asset      Retirement Obligations*

----

*Long-Lived      Assets Impairment *

*Income      Taxes *

*Financial      Instruments*

*Stock-based      Compensation *

| Number                of Options |   | Exercise                Price |   |
|----------------------------------|--------|-------------------------------|--------|
|                             |   |                          |   |
| 2,081,250                        |   | $                             | 0.50   |   |
| 1,040,625                        |   | $                             | 1.00   |   |
| 1,040,625                        |   | $                             | 1.25   |   |
|                             |   |                          |   |   |
| 4,162,500                        |   |                          |   |   |
|                             |   |                          |   |   |

----

|                                                 |                 |
|------------------------------------------------------|----------------------|
| Risk                free rate                        | 4.75%                |
| Dividend                yield                        | 0%                   |
| Weighted                average expected volatility  | 89%                  |
| Weighted                average expected option life | 5                yrs |

| Weighted                average fair value of options  |   | $      | 0.94      |   |
|--------------------------------------------------------|--------|--------|-----------|--------|
| Total                options outstanding               |   |   | 5,025,000 |   |
| Total                fair value of options outstanding |   | $      | 4,956,064 |   |

----

**ITEM      3. CONTROLS AND PROCEDURES**

*(a)      Evaluation of disclosure controls and procedures. *

*(b)      Changes in internal control over financial reporting. *

----

**PART      II - OTHER INFORMATION**

**Item      1. Legal Proceedings.**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds.**

**Item      3. Defaults Upon Senior Securities.**

**Item      4. Submission of Matters to a Vote of Security Holders.**

**Item      5. **
**Other      Information.**

**Item      6. Exhibits**

| 31.1 | Certification                of Chief Executive Officer pursuant to Rule                13a-14 and Rule 15d-14(a), promulgated under the Securities and Exchange                Act of 1934, as amended |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2 | Certification                of Chief Financial Officer pursuant to Rule                13a-14 and Rule 15d 14(a), promulgated under the Securities and Exchange                Act of 1934, as amended |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1 | Certification                pursuant to 18 U.S.C. Section 1350, as                adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                (Chief                Executive Officer) |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.2 | Certification                pursuant to 18 U.S.C. Section 1350, as                adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                (Chief                Financial Officer) |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**SIGNATURES**

|                                  |                                                                                |                              |
|---------------------------------------|-------------------------------------------------------------------------------------|-----------------------------------|
|                                  | **TATONKA OIL AND GAS,              INC.**                                          |
|                             |                                                                           |                         |
| Date: June              19, 2007 | By:                                                                       | /s/ DIRCK              TROMP |
|                                  | Dirck                Tromp                                                          |
|                                  | Chief                Executive Officer (Principal Executive                Officer) |

|                                  |                                                                                                                 |                                     |
|---------------------------------------|----------------------------------------------------------------------------------------------------------------------|------------------------------------------|
|                                  |                                                                                                                 |
|                             |                                                                                                            |                                |
| Date: June              19, 2007 | By:                                                                                                        | /s/ SOTHI              THILLAIRAJAH |
|                                  | Sothi                Thillairajah                                                                                    |
|                                  | Chief                Financial Officer (Principal Financial Officer and Principal Accounting                Officer) |