----

----

| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------------|

| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------|

| Nevada                                                         | 83-0512922                        |
|----------------------------------------------------------------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

| 106 E. 6th St., Suite 900, Austin, TX 78701 |
|---------------------------------------------|
| (Address of principal executive offices)    |

| (512) 332-5740                                                                           |
|------------------------------------------------------------------------------------------|
| (Issuer’s telephone number)                                                        |
|                                                                                     |
|                                                                                     |
|                                                                                     |
|  (Former name, former address and former fiscal year, if changed since last report) |

|   | YES  o |   | NO  x |
|--------|------------------|--------|-----------------|

|   | YES  o |   | NO  x |
|--------|------------------|--------|-----------------|

|   | YES  x |   | NO  o |
|--------|------------------|--------|-----------------|

|   | YES  o |   | NO  o |
|--------|------------------|--------|-----------------|

| Large accelerated filer  o                                                | Accelerated filer  o         |
|-------------------------------------------------------------------------------------|----------------------------------------|
| Non-accelerated filer  o (do not check if smaller reporting company) | Smaller reporting company  x |

|   | YES  o |   | NO  x |
|--------|------------------|--------|-----------------|

----

| -   | We adjusted stockholders’ equity to not give retroactive effect to share cancellations. Retroactive effect is only being given for the November 3, 2009 stock dividend. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | We reclassified exploration costs to impairment loss on mineral claim to follow our related accounting policy whereby we capitalize  mineral claim acquisition costs, and subsequently assess these costs for impairment. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | Related to the reclassification adjustment described above, we adjusted our cash flows statement to show the impairment loss in the operating activities section, with the acquisition costs being shown in the investing section. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| -   | We updated Footnote 2 for recent accounting pronouncements. |
|---------------|-------------------------------------------------------------|

| -   | We have updated the footnotes to replace FASB references with the related codification references. |
|---------------|----------------------------------------------------------------------------------------------------|

|     |                                                                             |    | Page   |
|----------|---------------------------------------------------------------------------------------|--------------|--------|
| PART II  |                                                                                  |         |   |
|     |                                                                                  |         |   |
| ITEM 8.  | Financial Statement and Supplementary Data.                                           |         | 3      |
|     |                                                                                  |         |   |
| ITEM 9.  | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. |         | 3      |
|     |                                                                                  |         |   |
| PART IV  |                                                                                  |         |   |
|     |                                                                                  |         |   |
| ITEM 15. | Exhibits, Financial Statement Schedules                                               |         | 4      |
|     |                                                                                  |         |   |
|     | SIGNATURES                                                                            |         | 5      |

----

----

| Exhibit Number |   | Description                                                                                                                                                   | Page   |
|----------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|           |   |                                                                                                                                                          |   |
| (a) (1)        |   | Financial Statements.  The following financial statements are included in this report:                                                              |   |
|           |   |                                                                                                                                                          |   |
|           |   |  Report of Madsen & Associates CPA’s Inc.                                                                                                      | 6      |
|           |   |                                                                                                                                                          |   |
|           |   | Consolidated Balance Sheet as at March 31, 2010 and 2009                                                                                                      | 7      |
|           |   |                                                                                                                                                          |   |
|           |   | Consolidated Statement of Operations for the years ended March 31, 2010 and 2009 and for the period from August 2, 2007 (date of inception) to March 31, 2010 | 8      |
|           |   |                                                                                                                                                          |   |
|           |   | Consolidated Statement of Changes in Stockholders’ Deficiency for period from August 2, 2007 (date of inception) to March 31, 2010                      | 9      |
|           |   |                                                                                                                                                          |   |
|           |   | Consolidated Statement of Cash Flows for the years ended March 31, 2010 and 2009 and for the period from August 2, 2007 (date of inception) to March 31, 2010 | 10     |
|           |   |                                                                                                                                                          |   |
|           |   | Notes to Consolidated Financial Statements                                                                                                                    | 11     |
|           |   |                                                                                                                                                          |   |
|           |   |                                                                                                                                                          |   |
| 31.1           |   | Certification of Principal Executive Officer Pursuant to 18 U.S.C., Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.       |   |
|           |   |                                                                                                                                                          |   |
| 31.2           |   | Certification of Principal Financial Officer Pursuant to 18 U.S.C., Section 1350, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.       |   |
|           |   |                                                                                                                                                          |   |
| 32.1           |   | Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.        |   |
|           |   |                                                                                                                                                          |   |
| 32.2           |   | Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.        |   |

----

| Dated: May 16, 2011 | /s/ Rob Durbin                                                               |
|---------------------|-----------------------------------------------------------------------------------|
|                | By: Rob Durbin                                                                    |
|                | Its: President, Chief Executive Officer and Director(Principal Executive Officer) |

| Signature           |         | Capacity                                                       |   | Date               |
|---------------------|--------------|----------------------------------------------------------------|--------|--------------------|
|                |         |                                                           |   |               |
| /s/ Rob Durbin |         | President, Chief Executive Officer and Director                |   | May 16, 2011       |
| Rob Durbin          |    | (Principal Executive Officer)                                  |   |               |
|                |         |                                                           |   |               |
| /s/ Mike Mackey     |    | Chief Financial Officer                                        |   | May 16, 2011       |
| Mike Mackey         |    | (Principal Financial Officer and Principal Accounting Officer) |   |               |
|                |         |                                                           |   |               |
| /s/Tom Barr         |         |  Director                                                 |   |  May 16, 2011 |
|  Tom Barr      |         |                                                           |   |               |

----

| MADSEN & ASSOCIATES, CPA’s INC. | 684 East Vine Street, #3 |
|-------------------------------------------|--------------------------|
|                                      | Murray, Utah, 84107      |
|                                      | Telephone: 801-268-2632  |
|                                      | Fax: 801-262-3978        |

| Murray, Utah | /s/ “Madsen & Associates, CPA’s Inc.” |
|--------------|------------------------------------------------------------------|
| May 12, 2011 |                                                             |

----

|                                                        |   | March 31,2010 |     |   | March 31,2009 |   |
|-------------------------------------------------------------|--------|--------------------|----------|--------|--------------------|--------|
|                                                        |   |               |     |   |               |   |
| ASSETS                                                      |   |               |     |   |               |   |
|                                                        |   |               |     |   |               |   |
| CURRENT ASSETS                                              |   |               |     |   |               |   |
|                                                        |   |               |     |   |               |   |
| Cash                                                        |   | $                  | -        |   |               | $      | 57 |   |
| Accounts receivable                                         |   |               | 29,724   |   |               |   | - |   |
|                                                        |   |               |     |   |               |   |   |   |
| Total Current Assets                                        |   |               | 29,724   |   |               |   | 57 |   |
|                                                        |   |               |     |   |               |   |   |   |
| OIL AND GAS LEASE (Note 3)                                  |   |               | 898,712  |   |               |   | - |   |
|                                                        |   |               |     |   |               |   |   |   |
| Total Assets                                                |   | $                  | 928,436  |   |               | $      |  57 |   |
|                                                        |   |               |     |   |               |   |   |   |
| LIABILITIES AND STOCKHOLDERS’ DEFICIENCY              |   |               |     |   |               |   |   |   |
|                                                        |   |               |     |   |               |   |   |   |
| CURRENT LIABILITIES                                         |   |               |     |   |               |   |   |   |
|                                                        |   |               |     |   |               |   |   |   |
| Accounts payable                                            |   | $                  | 41,563   |   |               | $      | 16,568 |   |
| Advances – related parties                            |   |               | 31,340   |   |               |   | 20,943 |   |
|                                                        |   |               |     |   |               |   |   |   |
| Total Current Liabilities                                   |   |               | 72,903   |   |               |   | 37,511 |   |
|                                                        |   |               |     |   |               |   |   |   |
| NOTE PAYABLE (Note 4)                                       |   |               | 900,000  |   |               |   |  - |   |
|                                                        |   |               |     |   |               |   |   |   |
| Total Liabilities                                           |   |               | 972,903  |   |               |   | 37,511 |   |
|                                                        |   |               |     |   |               |   |   |   |
| STOCKHOLDERS’ DEFICIENCY                              |   |               |     |   |               |   |   |   |
|                                                        |   |               |     |   |               |   |   |   |
| Common stock                                                |   |               |     |   |               |   |   |   |
| 500,000,000 shares authorized, at $0.001 par value;         |   |               |     |   |               |   |   |   |
| 40,000,000 shares issued and outstanding                    |   |               | 40,000   |   |               |   | 40,000 |   |
| Capital in excess of par value                              |   |               | 39,625   |   |               |   | 24,025 |   |
| Deficit accumulated during the development stage            |   |               | (124,092 | )      |               |   | (101,479 | ) |
|                                                        |   |               |     |   |               |   |   |   |
| Total Stockholders’ Deficiency                        |   |               | (44,467  | )      |               |   | (37,454 | ) |
|                                                        |   |               |     |   |               |   |   |   |
|   Total Liabilities and Stockholders’ Deficiency |   | $                  | 928,436  |   |               | $      |  57 |   |

----

|                                                                  |   | YearendedMarch 31, 2010 |       |   | YearendedMarch 31, 2009 |   |       | From August 2, 2007(date of inception)to March 31, 2010 |   |
|-----------------------------------------------------------------------|--------|-----------------------------------|------------|--------|-----------------------------------|--------|------------|-------------------------------------------------------------------------------------------------|--------|
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |
| REVENUE                                                               |   |                              |       |   |                              |   |       |                                                                                            |   |
| Oil and gas revenue                                                   |   | $                                 | 29,724     |   |                              | $      | -          |                                                                                            |   | $ | 29,724 |   |
| Less: Depletion                                                  |   |                              | (1,288     | )      |                              |   | -          |                                                                                            |   |   | (1,288 | ) |
|          Operating costs |   |                              | (13,620    | )      |                              |   | -          |                                                                                            |   |   | (13,620 | ) |
| Net loss on oil and gas revenue                                       |   |                              | 14,816     |   |                              |   | -          |                                                                                            |   |   | 14,816 |   |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| ADMINISTRATIVE EXPENSES                                               |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| Accounting and audit                                                  |   |                              | 10,400     |   |                              |   | 18,397     |                                                                                            |   |   | 41,318 |   |
| Consulting                                                            |   |                              | -          |   |                              |   | 12,500     |                                                                                            |   |   | 20,000 |   |
| Edgarizing                                                            |   |                              | 788        |   |                              |   | 2,362      |                                                                                            |   |   | 3,150 |   |
| Impairment loss on mineral claim                                      |   |                              | -          |   |                              |   | -          |                                                                                            |   |   | 11,217 |   |
| Filing fees                                                           |   |                              | -          |   |                              |   | 50         |                                                                                            |   |   | 50 |   |
| Incorporation costs                                                   |   |                              | 625        |   |                              |   | -          |                                                                                            |   |   | 1,479 |   |
| Legal                                                                 |   |                              | -          |   |                              |   | 4,238      |                                                                                            |   |   | 8,913 |   |
| Management fees                                                       |   |                              | 12,000     |   |                              |   | 12,000     |                                                                                            |   |   | 30,000 |   |
| Office                                                                |   |                              | 748        |   |                              |   | 1,373      |                                                                                            |   |   | 1,630 |   |
| Rent                                                                  |   |                              | 2,400      |   |                              |   | 2,400      |                                                                                            |   |   | 6,000 |   |
| Telephone                                                             |   |                              | 1,200      |   |                              |   | 1,200      |                                                                                            |   |   | 3,000 |   |
| Transfer agent fees                                                   |   |                              | 515        |   |                              |   | 1,410      |                                                                                            |   |   | 1,924 |   |
| Travel                                                                |   |                              | -          |   |                              |   | -          |                                                                                            |   |   | 1,474 |   |
| Total administrative expenses                                         |   |                              | 28,676     |   |                              |   | 55,930     |                                                                                            |   |   | 130,155 |   |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| LOSS FROM OPERATIONS                                                  |   |                              | (13,860    | )      |                              |   | (55,930    | )                                                                                               |   |   | (115,339 | ) |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| OTHER EXPENSES                                                        |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| Interest on promissory note                                           |   |                              | (8,753     | )      |                              |   | -          |                                                                                            |   |   | (8,753 | ) |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| NET LOSS                                                              |   | $                                 | (22,613    | )      |                              | $      | (55,930    | )                                                                                               |   | $ | (124,092 | ) |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| NET LOSS PER COMMON SHARE                                             |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| Basic and diluted                                                     |   | $                                 | (0.00      | )      |                              | $      | (0.00      | )                                                                                               |   |   |   |   |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| WEIGHTED AVERAGE OUTSTANDING SHARES                                   |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
|                                                                  |   |                              |       |   |                              |   |       |                                                                                            |   |   |   |   |
| Basic and diluted                                                     |   |                              | 40,000,000 |   |                              |   | 40,000,000 |                                                                                            |   |   |   |   |

----

|                                                          |   | CommonShares |         |   | StockAmount |   |     | Capital inExcess ofPar Value |   |   | Accumulated Deficit |   |   | Total  |     |
|---------------------------------------------------------------|--------|--------------|--------------|--------|-------------|--------|----------|---------------------------------------------|--------|--------|--------------------------|--------|--------|--------|----------|
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |
| Balance August 2, 2007                                        |   |         | -            |   |        | $      | -        |                                        |   | $      | -                        |   |   | $      | -        |   |   | $ |   |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Issuance of common shares on October 31, 2007                 |   |         | 198,000,000  |   |        |   | 198,000  |                                        |   |   | (195,000                 | )      |   |   | -        |   |   |   | 3,000 |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Issuance of common shares on December 31, 2007                |   |         | 49,665,000   |   |        |   | 49,665   |                                        |   |   | (12,040                  | )      |   |   | -        |   |   |   | 37,625 |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Capital contributions – expenses                        |   |         | -            |   |        |   | -        |                                        |   |   | 7,800                    |   |   |   | -        |   |   |   | 7,800 |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Net loss for the period from August 7, 2007 to March 31, 2008 |   |         | -            |   |        |   | -        |                                        |   |   | -                        |   |   |   | (45,549  | ) |   |   | (45,549 | ) |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Balance as at March 31, 2008                                  |   |         | 247,665,000  |   |        |   | 247,665  |                                        |   |   | (199,240                 | )      |   |   | (45,549  | ) |   |   | 2,876 |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Capital contributions – expenses                        |   |         | -            |   |        |   | -        |                                        |   |   | 15,600                   |   |   |   | -        |   |   |   | 15,600 |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Net loss for the year ended March 31, 2009                    |   |         | -            |   |        |   | -        |                                        |   |   | -                        |   |   |   | (55,930  | ) |   |   | (55,930 | ) |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Balance as at March 31, 2009                                  |   |         | 247,665,000  |   |        |   | 247,665  |                                        |   |   | (183,640                 | )      |   |   | (101,479 | ) |   |   | (37,454 | ) |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Capital contributions – expenses                        |   |         | -            |   |        |   | -        |                                        |   |   | 15,600                   |   |   |   | -        |   |   |   | 15,600 |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Cancellation of common shares – October 22, 2009        |   |         | (168,300,000 | )      |        |   | (168,300 | )                                           |   |   | 168,300                  |   |   |   |     |   |   |   | - |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Stock dividend – 65:1 – November 3, 2009          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Cancellation of common shares – January 27, 2010        |   |         | (29,465,000  | )      |        |   | (29,465  | )                                           |   |   | 29,465                   |   |   |   |     |   |   |   |   |   |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Net loss for the year ended March 31, 2010                    |   |         | -            |   |        |   | -        |                                        |   |   | -                        |   |   |   | (22,613  | ) |   |   | (22,613 | ) |
|                                                          |   |         |         |   |        |   |     |                                        |   |   |                     |   |   |   |     |   |   |   |   |   |
| Balance as at March 31, 2010                                  |   |         | 49,900,000   |   |        | $      | 49,900   |                                        |   | $      | 29,725                   |   |   | $      | (124,092 | ) |   | $ | (44,467 | ) |

----

|                                                                            |   | Year endedMarch 31, 2010 |     |   | Year endedMarch 31, 2009 |   |     | From August 2, 2007(date of inception) toMarch 31, 2010 |   |
|---------------------------------------------------------------------------------|--------|-----------------------------------------|----------|--------|-----------------------------------------|--------|----------|-------------------------------------------------------------------------------------------------|--------|
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                           |   |                                    |     |   |                                    |   |     |                                                                                            |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |
| Net loss                                                                        |   | $                                       | (22,613  | )      |                                    | $      | (55,930  | )                                                                                               |   | $ | (124,092 | ) |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Adjustments to reconcile net loss to net cash provided by operating activities: |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Impairment loss on mineral claim                                                |   |                                    |     |   |                                    |   |     |                                                                                            |   |   | 11,217 |   |
| Capital contributions – expenses                                          |   |                                    | 15,600   |   |                                    |   | 15,600   |                                                                                            |   |   | 39,000 |   |
| Depletion expense                                                               |   |                                    | 1,288    |   |                                    |   | -        |                                                                                            |   |   | 1,288 |   |
| Changes in accounts receivable                                                  |   |                                    | (29,724  | )      |                                    |   | -        |                                                                                            |   |   | (29,724 | ) |
| Changes in accounts payable                                                     |   |                                    | 24,995   |   |                                    |   | 3,664    |                                                                                            |   |   | 41,563 |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Net Cash (Used) in Operating Activities                                         |   |                                    | (10,454  | )      |                                    |   | (36,666  | )                                                                                               |   |   | (60,748 | ) |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                           |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Purchase of mineral claim                                                       |   |                                    | -        |   |                                    |   | -        |                                                                                            |   |   | (11,217 | ) |
| Purchase of oil and gas lease                                                   |   |                                    | (900,000 | )      |                                    |   | -        |                                                                                            |   |   | (900,000 | ) |
| Net Cash (Used) in Investing Activities                                         |   |                                    | (900,000 | )      |                                    |   | -        |                                                                                            |   |   | (911,217) |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Advances from related party                                                     |   |                                    | 10,397   |   |                                    |   | 18,260   |                                                                                            |   |   | 31,340 |   |
| Note payable – purchase of oil and gas leases                             |   |                                    | 900,000  |   |                                    |   | -        |                                                                                            |   |   | 900,000 |   |
| Proceeds from issuance of common stock                                          |   |                                    | -        |   |                                    |   | -        |                                                                                            |   |   | 40,625 |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Net Cash Provided by Financing Activities                                       |   |                                    | 910,397  |   |                                    |   | 18,260   |                                                                                            |   |   | 971,965 |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Net Increase (Decrease) in Cash                                                 |   |                                    | (57      | )      |                                    |   | (18,406  | )                                                                                               |   |   | - |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| Cash at Beginning of Period                                                     |   |                                    | 57       |   |                                    |   | 18,463   |                                                                                            |   |   | - |   |
|                                                                            |   |                                    |     |   |                                    |   |     |                                                                                            |   |   |   |   |
| CASH AT END OF PERIOD                                                           |   | $                                       | -        |   |                                    | $      |  57 |                                                                                            |   | $ |  - |   |

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| 1. | ORGANIZATION |
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| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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|   | ● | Oil and gas reserves must be reported using the average price over the prior 12 month period, rather than the year-end prices; |
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|   | ● | Companies will be allowed to report, on an optional basis, probable and possible reserves; |
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|   | ● | Non-traditional reserves, such as oil and gas extracted from coal and shales, will be included in the definition of “oil and gas producing activities”; |
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|   | ● | Companies will be permitted to use new technologies to determine proven reserves, as long as those technologies have been demonstrated empirically to lead to reliable conclusions with respect to reserve volumes; |
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|   | ● | Companies will be required to disclose, in narrative form, additional details on their proved undeveloped reserves (PUDs), including to total quantity of PUDs at year end, any material changes in PUDs that occurred during the year, investment and progress made to convert PUDs to developed oil and gas reserves and an explanation of the reasons why material concentrations of PUDs in individual fields or countries have remained undeveloped for five years or more after disclosure as PUDs; |
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|   | ● | Companies will be required to report the qualifications and measures taken to assure the independence and objectivity of any business entity or employee primarily responsible for preparing or auditing the reserve estimates. |
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| 3. | OIL AND GAS LEASE |
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|   | On January 20, 2010, Coach Capital, LLC (“Coach”), an unrelated company, assigned to the Company’s wholly owned subsidiary a 14.9% working interest in the oil, gas and mineral leases in the Greater Garwood hydrocarbon exploration project located in Colorado County, Texas (the “Project”).   The assignment was made subject to the terms and conditions of the leases and that certain unrecorded Participation Agreement dated November 5, 2008 between El Paso E & P Company, L.P. and Baytor Energy LLC, and the Carry Agreement dated October 27, 2009 between Baylor Energy LLC and Coach. |
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| 4. | NOTE PAYABLE |
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|   | On January 19, 2010, Imperial Oil borrowed $900,000 from Coach pursuant to a promissory note issued to Coach.   The outstanding balance under the note will accrue interest at 5% per annum and is due in full on January 19, 2013.  If the note and accrued interest are not repaid in full between one year and three years after January 19, 2010, Coach will be paid 75% of the production revenue received by Imperial Oil from the lease, excluding the interest in the Cochran #1 well.  If the note and accrued interest are not repaid in full after three years from January 19, 2010, Coach will be paid 100% of the net production revenue received by Imperial Oil from the lease, excluding the interest in the Cochran #1 well. |
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|   | The interest on the Note for the period from issuance to March 31, 2010 is $8,753 and has been credited to accounts payable. |
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| 5. | SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES |
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|   | On January 19, 2010, Imperial Oil entered into a Net Profit Agreement whereby Imperial agreed to share profits from certain mutually beneficial oil and gas exploration and development opportunities in Canada and the continental United States (“Prospects”).  Pursuant to the this Agreement, Imperial Oil granted Mara Energy, LLC (“Mara”), a Delaware corporation, an interest in the Prospects by way of a Net Profit Interest.   The Net Profit Interest is an interest in the Prospects that entitles Imperial Oil to receive a monthly amount equal to 50% of the Net Proceeds resulting from the sale of petroleum substances obtained from the Prospects. |
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|   | On April 1, 2010, Imperial Oil & entered into a Consulting Service Agreement with Mara Energy, LLC. whereby Mara will provides services associated with any future development of Imperial Oil’s working interest in both the Greater Garwood oil and gas development exploration assets and the producing Cochran #1. |
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| 6. | CAPITAL STOCK |
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| 7. | CONTRACTUAL COMMITMENTS |
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|   | On January 19, 2010, Imperial Oil entered into a Net Profit Agreement whereby Imperial agreed to share profits from certain mutually beneficial oil and gas exploration and development opportunities in Canada and the continental United States (“Prospects”).  Pursuant to the this Agreement, Imperial Oil granted Mara Energy, LLC (“Mara”), a Delaware corporation, an interest in the Prospects by way of a Net Profit Interest.   The Net Profit Interest is an interest in the Prospects that entitles Imperial Oil to receive a monthly amount equal to 50% of the Net Proceeds resulting from the sale of petroleum substances obtained from the Prospects. |
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| 8. | GOING CONCERN |
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| 9. | SUBSEQUENT EVENTS |
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|   | On April 1, 2010, Imperial Oil & entered into a Consulting Service Agreement with Mara Energy, LLC. whereby Mara will provides services associated with any future development of Imperial Oil’s working interest in both the Greater Garwood oil and gas development exploration assets and the producing Cochran #1. |
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