UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 10-Q

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

                       For the quarterly period ended March 31, 2008
      OR

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

        For the transition period from ________ to  ________

                         Commission File Number: 0-31357

                          EPIC ENERGY RESOURCES INC.
                     (Exact Name of Issuer as Specified in Its Charter)

           Colorado                                  94-3363969
  (State or other jurisdiction            (I.R.S. Employer Identification No.)
of incorporation or organization)

         1450 Lake Robbins Drive, Suite 160
                 The Woodlands, TX                               77380
      (Address of Issuer's Principal Executive Offices)       (Zip Code)

  Issuer's telephone number:     (281) 419-3742

                           10655 Six Pines, Suite 210
                            The Woodlands, TX 77380
              (Former name, former address and former fiscal year,
                         if changed since last report)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports) and (2) had been subject to such filing
requirements for the past 90 days.

            Yes  X                      No _____

Indicate by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check One):

      Large accelerated filer [  ]       Accelerated filer [  ]
      Non-accelerated filer   [  ]       Smaller reporting company [X]
(Do not check if a smaller reporting company)

Indicate by check mark whether the Registrant is a shell company (as defined in
Exchange Act Rule 12b-2 of the Exchange Act).
            Yes _____                        No   X

      Class of Stock           No. Shares Outstanding             Date

      Common Stock                    43,883,921               May 10, 2008

<PAGE>


                            EPIC ENERGY RESOURCES INC
                           CONSOLIDATED BALANCE SHEETS

                                                   March 31,     December 31,
  ASSETS                                             2008            2007
                                                  ----------     -------------
                                                 (unaudited)       (audited)
    CURRENT ASSETS
     Cash and cash equivalents                    $ 4,671,592      $ 3,483,179
     Restricted cash                                2,400,000        3,400,003
     Accounts receivable:
       Billed, net of allowance of $636,000         8,700,949       11,334,690
       Unbilled, at estimated net realizable value  5,818,850        3,446,757
     Accounts receivable - other                        5,000          639,500
     Prepaid expenses and other                       212,589          309,081
                                                  -----------      -----------
          TOTAL CURRENT ASSETS                     21,808,980       22,613,210
    Oil and gas properties (full cost method),
      net of accumulated impairments and
      depletion of $5,259,845:
          Proved                                    5,247,746        5,247,746
          Unproved                                          -                -
    Other mineral reserves                            783,474          783,474
    Property and equipment, net of accumulated
      depreciation of $555,461 and $112,119,
      respectively                                 10,843,569       10,596,463
    Other assets                                      219,410          209,213
    Debt issuance costs, net of accumulated
      amortization of $146,914 and $28,650,
      respectively                                  1,882,141        1,690,350
    Goodwill and intangible assets, net of
      accumulated amortization of $29,412 and
      $4,902, respectively                         36,347,394       33,609,064
                                                  -----------      -----------
          TOTAL ASSETS                            $77,132,714       74,749,520
                                                  ===========      ===========
 LIABILITIES AND STOCKHOLDERS' EQUITY

    CURRENT LIABILITIES
     Accounts payable                             $ 3,969,972      $ 4,066,368
     Bank overdrafts                                  626,848        3,441,949
     Accrued liabilities                            4,101,886        2,949,270
     Customer deposits                              3,083,781        1,357,862
     Current portion of long term debt              5,025,944        3,208,135
                                                  -----------      -----------
          TOTAL CURRENT LIABILITIES                16,808,431       15,023,584
    Asset retirement obligations                      134,777          132,626
    Long-term debt, net of debt discount of
       $12,225,626 and $12,878,572, respectively   14,168,722       13,928,954
                                                  -----------      -----------
                   TOTAL LIABILITIES               31,111,930       29,085,164
                                                  -----------      -----------
STOCKHOLDERS' EQUITY
   Common stock, no par value: 100,000,000
     authorized; 43,948,921 and 42,948,921 shares
     issued and outstanding at March 31, 2008 and
     December 31, 2007, respectively               42,007,303       40,698,806
      Additional paid-in capital                   13,726,847       13,416,792
      Accumulated deficit                          (9,713,366)      (8,451,242)
                                                  -----------      -----------
    TOTAL STOCKHOLDERS' EQUITY                     46,020,784       45,664,356
                                                  -----------      -----------
    TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY    $77,132,714      $74,749,520
                                                  ===========     ============


          See accompanying notes to consolidated financial statements.


                                       2
<PAGE>
                           EPIC ENERGY RESOURCES INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (unaudited)

                                                 Three Months Ended March 31,
                                                  2008                 2007
                                                 ----------------------------
   REVENUES
     Consulting fees                           $ 11,006,850        $    74,842
     Reimbursed expenses                          6,467,018                  -
     Oil and gas revenue                                  -                742
                                               ------------        -----------
          TOTAL REVENUES                         17,473,868             75,584

   OPERATING EXPENSES
       General and administrative                 2,859,465            427,642
       Lease operating expenses                      60,206             64,303
       Professional and subcontracted services    1,706,905                  -
       Compensation and benefits                  6,122,179                  -
       Reimbursed expenses                        5,795,394                  -
       Occupancy, communication and other           346,608                  -
       Depreciation, depletion and
         amortization                               467,852                  -
      Accretion expense                               2,151              5,369
                                               ------------        -----------
          OPERATING EXPENSES                     17,360,760            497,314

   INCOME (LOSS) FROM OPERATIONS                    113,108           (421,730)
   OTHER INCOME (EXPENSE)
      Interest and other income                      24,740              2,103
      Interest expense                           (1,399,972)           (32,077)
                                               ------------        -----------
          OTHER INCOME (EXPENSE)                 (1,375,232)           (29,974)

   NET LOSS                                    $ (1,262,124)       $  (451,704)
                                               ============        ===========

   LOSS PER COMMON SHARE - Basic and Diluted   $       (.03)       $      (.01)
   WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
      Basic and Diluted                          43,333,536         52,659,835



          See accompanying notes to consolidated financial statements.


                                       3
<PAGE>
                           EPIC ENERGY RESOURCES INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (unaudited)

                                                  Three Months Ended March 31,
                                                  2008                 2007
                                                 ----------------------------
         CASH FLOWS FROM OPERATING ACTIVITIES
         Net loss                               $(1,262,124)       $  (451,704)
         Adjustments  to reconcile  net loss
          to net cash used in operating
          activities:
           Depreciation, depletion and
            amortization                            467,852                  -
         Amortization of debt issuance costs        118,264                  -
         Accretion expense                            2,151              5,369
         Shares issued for compensation             258,497            113,676
         Amortization of debt discount              652,946                  -
         Changes in operating assets and
          liabilities:
           Accounts receivable                      513,757            (66,336)
           Prepaid expenses and other               272,297             32,462
           Accounts payable                        (169,134)           (70,670)
           Accrued liabilities                    2,873,942             86,813
                                                -----------         ----------
             Net cash provided by (used in)
              operating activities                3,728,448           (350,390)
                                                -----------         ----------
         CASH FLOWS FROM INVESTING ACTIVITIES
         Decrease in restricted cash              1,000,003                  -
         Acquisition of property and equipment     (572,795)                 -
         Acquisition of EIS, net of cash received    35,037                  -
         Increase in other assets                  (191,810)                 -
                                                 -----------         ----------
           Net cash provided by investing
             activities                             270,435                  -
                                                -----------         ----------
         CASH FLOWS FROM FINANCING ACTIVITIES
         Bank overdrafts                         (2,815,101)                 -
         Payments on debt                          (332,310)           (42,184)
         Proceeds from debt                         336,941                  -
         Net proceeds from issuance of common
           stock                                          -            454,000
                                                -----------         ----------
            Net cash provided by (used in)
             financing activities                (2,810,470)           411,816
                                                -----------         ----------
      NET INCREASE IN CASH AND CASH EQUIVALENTS   1,188,413             61,426
      CASH AND CASH EQUIVALENTS, BEGINNING OF
         PERIOD                                   3,483,179            590,172
                                                -----------         ----------
      CASH AND CASH EQUIVALENTS, END OF PERIOD  $ 4,671,592         $  651,598
                                                ===========        ===========
      SUPPLEMENTAL CASH FLOW DISCLOSURES:
         Interest paid                          $   628,762         $        -
      NON-CASH INVESTING AND FINANCING
      ACTIVITIES:
         Insurance policies acquired with debt  $         -         $   25,992
         debt
         Note payable for oil and gas property
           expenses                             $    71,002         $   57,462
         Acquisition of EIS with stock          $ 1,050,000         $        -


          See accompanying notes to consolidated financial statements.


                                       4
<PAGE>
                            EPIC ENERGY RESOURCES INC
                   Notes to Consolidated Financial Statements
                                   (unaudited)


1.    Organization and Basis of Presentation

Epic Energy Resources, Inc ("Epic", the "Company", "we", "us", or "our") was
formed in April 2006 and completed a purchase of a public shell and began
trading under the ticker symbol EPCC.

Epic is engaged primarily in providing engineering, consulting, construction
management, operations, maintenance, and field and project management services
to the oil, gas and energy industry. Epic is also engaged in the acquisition,
exploration, development, production, and sales of oil, gas and natural gas
liquids. Following its formation, Epic was relatively inactive until April 2006
when its management changed and it became involved in oil and gas exploration
and development. Unless otherwise indicated, all references to Epic include the
operations of The Carnrite Group ("Carnrite"), Pearl Investment Company and its
subsidiaries ("Pearl") and Epic Integrated Solutions, LLC ("Epic Integrated),
subsequent to the dates that Epic acquired these companies.

During the first quarter, our Board of Directors updated their compensation plan
for the calendar year 2008. The plan defines compensation for non-employee
directors to include an annual cash retainer of $21,000 payable quarterly and a
grant of 25,000 stock options with a strike price equal to the closing price of
Epic common stock on January 17, 2008 and an expiration date of January 17,
2018. The Audit Committee chair will receive an additional cash payment of
$4,500. All other committee chairs will receive an additional $2,500.

The accompanying unaudited consolidated financial statements have been prepared
in accordance with generally accepted accounting principles in the United States
of America, or GAAP, for interim financial information and with the instructions
to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include
all of the information and disclosures required by GAAP for complete financial
statements. In the opinion of management, all adjustments (consisting of normal
recurring accruals) considered necessary for a fair presentation have been
included. Operating results for the three months ended March 31, 2008, are not
necessarily indicative of the results that may be expected for the year ending
December 31, 2008. The balance sheet at December 31, 2007, has been derived from
the audited financial statements at that date but does not include all of the
information and disclosures required by GAAP for complete financial statements.
For further information, refer to the financial statements and notes thereto
included in Epic's Annual Report on Form 10-KSB for the year ended December 31,
2007. Certain 2007 financial statement amounts have been reclassified to conform
to the 2008 presentation.


                                       5
<PAGE>

1.    Organization and Basis of Presentation (cont'd)

Use of Estimates

The preparation of financial statements in conformity with US GAAP requires
management to make estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosure of contingent assets and liabilities at
the date of the financial statements and the reported amounts of revenues and
expenses during the reporting periods. Actual results could differ from those
estimates.

Receivables from Clients

Billed receivables from clients are presented at their billed amount less an
allowance for doubtful accounts. Unbilled receivables represent revenue earned
in the current period but not billed to the customer until future dates, usually
within one month. Epic provides an allowance for doubtful accounts on
receivables based on historical collection experience and a specific review of
each customer's receivable balance. As of December 31, 2007 and March 31, 2008,
management determined that an allowance for doubtful accounts of $636,000 was
required based on management's assessment of the collectability of these items.

Property and Equipment

Property and equipment is stated at cost. Depreciation and amortization is
provided utilizing the straight-line method over the estimated useful lives for
owned assets, ranging from 3 to 10 years, and the related lease terms for
leasehold improvements and equipment under capital leases (see Note 6).

Revenue Recognition

Revenue includes fees primarily generated from engineering and consulting
services provided. The Company recognizes revenue from these engagements when
hours are worked, either on a time-and-materials basis or on a fixed-fee basis,
depending on the terms and conditions defined at the inception of an engagement
with a client. The terms of the contracts with clients are fixed and
determinable and may change based upon agreement by both parties. Individual
consultants' billing rates are principally based on a multiple of salary and
compensation costs. Revenue recognized in excess of billings is recorded as
unbilled accounts receivable. Cash collections and invoices generated in excess
of revenue recognized are recorded as deferred revenue until the revenue
recognition criteria are met. Client reimbursable expenses, including those
relating to travel, other out-of-pocket expenses and any third-party costs, are
included as a separate line in revenue in accordance with EITF 99-16; the cost
for these reimbursable expenses is included in operating expenses.


                                       6
<PAGE>

1.    Organization and Basis of Presentation (cont'd)

Fair Value of Financial Instruments

In accordance with the reporting requirements of SFAS No. 107, "Disclosures
About Fair Value of Financial Instruments", the Company calculates the fair
value of its assets and liabilities which qualify as financial instruments under
this statement and includes this additional information in the notes to the
financial statements when the fair value is different than the carrying value of
those financial instruments. The estimated fair value of cash, accounts
receivable and accounts payable approximate their carrying amounts due to the
short maturity of these instruments. The carrying value of short and long-term
debt also approximates fair value since their terms are similar to those in the
lending market for comparable loans with comparable risks. None of these
instruments are held for trading purposes.

2.    Business Combinations

On August 13, 2007, Epic acquired Carnrite for 4,850,844 shares of its common
stock valued at $16,007,785. Of these 4,850,844 shares, 1,673,034 shares were
awarded to key employees of Carnrite as retention shares. These shares will be
required to be returned to the Company if the employees voluntarily terminate
their employment prior to March 28, 2009. In accordance with EITF No. 95-8
"Accounting for Contingent Consideration Paid to the Shareholders for an
Acquired Enterprise in a Business Combination", the contingent consideration is
considered additional purchase price consideration.

On December 5, 2007, the Company acquired Pearl for 1,786,240 shares of its
common stock and cash of $19,020,000. The consolidated statement of operations
includes the operations of Pearl during the quarter ended March 31, 2008.

On February 20, 2008, Epic acquired Epic Integrated Solutions, LLC, an
unaffiliated entity, for cash and 1,000,000 shares of its restricted common
stock. At closing, Epic paid $600,000 and issued 1,000,000 shares of its common
stock to three owners of Epic Integrated. An additional $1,400,000 will be paid
to the three owners in periodic installments during 2008 and 2009 should they
continue employment with the Company. In accordance with EITF No. 95-8
"Accounting for Contingent Consideration Paid to the Shareholders for an
Acquired Enterprise in a Business Combination", the contingent consideration is
considered additional purchase price consideration. The consolidated statement
of operations includes the operations of Epic Integrated for the period from
February 20, 2008 through March 31, 2008.

                                       7
<PAGE>


2.    Business Combinations (cont'd)

The aggregate purchase price of Epic Integrated was $3,050,000 and consisted of
1,000,000 shares of common stock valued at $1.05 per share, the closing price on
the day of acquisition, a note in the amount of $1,400,000 to be paid in 18
months (see Note 7) and $600,000 of cash. The following table presents the
allocation of the acquisition cost to the assets acquired and liabilities
assumed, based on fair values:

                                                        Amount

      Cash                                       $      635,037
      Receivables from clients                          232,798
      Property and equipment                            116,565
      Other assets                                        5,086
      Goodwill and intangible assets                  2,137,846
                                                 --------------
               Total assets acquired                  3,127,332
      Accounts payable                                   72,739
      Accrued liabilities                                 4,593
                                                 --------------
               Total liabilities assumed                 77,332
                                                 --------------
               Net assets acquired               $    3,050,000
                                                 ==============

Summarized below is the unaudited pro forma statement of operations for the
Company for the quarters ended March 31, 2008 and 2007 had the acquisitions of
Carnrite, Pearl and Epic Integrated taken place as of January 1, 2007:

                                             Three Months Ended March 31,
                                             2008                    2007
                                             ----                    ----

             Revenues                    $  17,473,868         $  11,323,568
             Operating expenses             17,360,760            11,420,355
             Other income (expense)         (1,375,232)       $   (1,932,514)
                                         -------------        --------------
                   Net loss              $  (1,262,124)       $   (2,029,301)
                                         =============        ==============
                   Net loss per share$   $        (.03)       $         (.04)
                                         =============        ==============

The unaudited pro forma information is presented for informational purposes only
and is not necessarily indicative of the results of operations that actually
would have been achieved had the acquisition been consummated as of that time,
nor is it intended to be a projection of future results.


                                       8
<PAGE>

2.    Business Combinations (cont'd)

The acquisitions and related transactions were treated as a purchase business
combination for accounting purposes, and Carnrite's, Pearl's and Epic
Integrated's assets acquired and liabilities assumed were recorded at their fair
value. The allocations of the purchase price to Carnrite's, Pearl's and Epic
Integrated's assets and liabilities are only preliminary allocations based on
estimates of fair value and will change when the actual fair values are
determined. Among the provisions of SFAS No. 141, criteria have been established
for determining whether intangible assets should be recognized separately from
goodwill. The Company has not made that determination as of March 31, 2008. The
Company has one year from the date of acquisition to make the determination.

3.    Goodwill and Other Intangible Assets

Approximately $35.3 million of the purchase price related to the Carnrite, Pearl
and Epic Integrated acquisitions has been allocated to goodwill. Goodwill
represents the excess of the purchase price over the fair value of the net
tangible assets. In accordance with SFAS No. 142, Goodwill and Other Intangible
Assets, goodwill is not amortized but instead tested for impairment at least
annually (more frequently if certain indicators are present). In the event that
management determines that the value of the goodwill has become impaired, the
company will incur an accounting charge for the amount of the impairment during
the quarter in which the determination is made. Also see Note 2.

4.    Other Mineral Reserves

Our proved oil and gas properties in Kansas contain Helium reserves estimated at
between 1% and 2% of the proved gas reserves of the property. Installation of
Nitrogen Rejection Units (NRU) to remove Nitrogen and harvest the Helium from
the field is in the final stages of manufacturing and installation. The third
party contracted to build, install and operate the NRU units estimates the
installation of the units to be completed in July of 2008. Capital costs to
build, install and operate the NRU units will be the responsibility of the third
party company in exchange for a percentage of the produced natural gas and
Helium.

5.    Oil and Gas Properties

In December 2006 Epic acquired a 100% working  interest  (approximately  82% net
revenue interest) in 28,600 acres in Rush County, Kansas. Located on the acreage
were 58 producing  gas wells with total proved  reserves at December 31, 2006 of
3,717  barrels  of oil and  2,793,000  Mcf of gas.  The  acreage  and wells were
acquired  for  $100,000  in cash,  a  $2,500,000  loan from the  sellers  of the
property and 3,200,000  shares of Epic's common stock valued at $8,480,000 using
the closing price of Epic's common stock at the inception of the agreement.  The
$2,500,000  loan  bears  interest  at 10% per  year and is  payable  in 42 equal
monthly  installments  of  $72,000.  We based  the  value of the offer on a 2005


                                       9
<PAGE>

5.    Oil and Gas Properties (cont'd)

engineering  reserve report which showed a value of $10.5  million.  As of March
31, 2008, the Company had recorded $5,184,911 of ceiling test impairments to the
Kansas  properties  compared  with  $3,062,265  at March 31,  2007.  The Company
recorded no depletion  expense on these  properties for the quarters ended March
31, 2008 and 2007.

In December 2006 Epic acquired a 50% working interest (approximate 40% net
revenue interest) in 6,000 acres in Kay County, Oklahoma. Located on the leased
acreage were one producing gas well and six shut-in gas wells. For its interest
in this prospect, Epic paid $50,000 in cash and issued 3,846 shares of its
common stock to the sellers valued at $10,000 using the closing price of Epic's
common stock at the inception of the agreement. The three initial test wells
were worked over and have been found to be uneconomical. Epic will decline
participation in future wells associated within the 6,000 acres in Kay County,
Oklahoma.

6.    Property and Equipment

Property and equipment consisted of the following:

                                                   March 31,      December 31,
                                                     2008             2007
                                                   ---------      ------------

             Computer equipment                  $ 2,023,660      $  859,147
                 Airplane                          4,633,347       4,633,347
                 Office furniture and equipment      569,618         576,982
             Construction in progress                234,477       2,102,325
                 Vehicles                          2,517,682       2,221,101
                 Leasehold improvements            1,420,246         315,680
                                              --------------  --------------
                                                  11,399,030      10,708,582
             Less accumulated depreciation and
                amortization                        (555,461)       (112,119)
                                             ---------------   -------------
             Total property and equipment        $10,843,569     $10,596,463
                                                 ===========     ===========

7.    Long-Term Debt

In December  2006,  Epic borrowed  $2,500,000  secured by the Rush County Kansas
property.  The note is for a term of 42 months and bears annual interest of 10%.
The  monthly  principal  and  interest  payment  of this  note is  approximately
$72,000.  Pursuant to the note agreement,  if the cash flow from the property is
less than the monthly  principal and interest  payment,  the deficit is added to
the principal  amount of the note. If the cash flow from the property is greater
than the monthly  principal  and interest,  the  additional  amount  reduces the
principal of the note.  Under these  terms,  during the three month period ended
March 31, 2008 and 2007,  Epic  incurred  an  additional  $60,206  and  $64,303,


                                       10
<PAGE>


7.    Long-Term Debt (cont'd)

respectively  in lease  operating  expenses  associated  with  the  Rush  County
property as the  property had no  production  during the three month period then
ended.  Expenses  are paid by the  lender  and due to the lack of revenue in the
current quarter these expenses resulted in an increase in the note.

In  December  2007,   Epic  issued   $20,250,000   of  10%  Secured   Debentures
("Debentures").  The  Debentures  are due on  December  5, 2012,  with  interest
payable quarterly on January 1, April 1, July 1 and October 1 and are secured by
liens on all of the Company's assets. Beginning December 1, 2008, the Company is
required to make quarterly principal payments of $1,265,625. Any overdue accrued
and unpaid  interest shall result in a late fee at an interest rate equal to the
lesser of 18% per annum or the maximum rate permitted by law.  Prepayment is not
allowed  without prior  written  consent of the holders.  The  purchasers of the
notes also  received  warrants  which  entitle  the  holders to  purchase  up to
15,954,545  shares of the Company's  common stock at $1.65 per share.  Under the
Black Scholes method using an expected life of five years, volatility of 72% and
a  risk-free  interest  rate of  3.28%,  the  Company  determined  the  warrants
associated with the debentures had a fair value of $13,085,380 as of the date of
the  transaction.  Such amount was recorded as additional paid in capital with a
corresponding amount recorded as a debt discount associated with the debentures.
The debt  discount is being  amortized to interest  expense over the life of the
debentures,  which  mature on  December  1, 2012.  A total of  $652,946  of debt
discount was amortized to interest  expense for the three months ended March 31,
2008.

In connection with the Epic Integrated acquisition, we recorded a $1,400,000
note which will be paid to the three owners in periodic installments during 2008
and 2009. At March 31, 2007, $650,000 of this note is included in current
portion of long term debt on the balance sheet.

      Debt consists of the following:
                                                   March 31,      December 31,
                                                     2008             2007
                                                   ---------      ------------

   Note payable secured by properties acquired  $  9,770,292    $  9,765,661
   Note payable in connection with Epic
     Integrated acquisition                        1,400,000              --
      10% Debentures                              20,250,000      20,250,000
                                                ------------    ------------
            Total debt                            31,420,292      30,015,661

      Less current maturities                      5,025,944       3,208,135
                                                ------------    ------------
           Total long-term debt                 $ 26,394,348    $ 26,807,526
                                                ============    ============


                                       11
<PAGE>


8.    Earnings Per Share

Earnings per share data for all periods presented have been computed pursuant to
SFAS No.  128,  "Earnings  Per  Share"  that  requires a  presentation  of basic
earnings per share (basic EPS) and diluted  earnings  per share  (diluted  EPS).
Basic EPS excludes  dilution and is determined by dividing  income  available to
common  stockholders by the weighted average number of common shares outstanding
during the period.  Diluted EPS reflects the potential dilution that could occur
if  securities  and other  contracts  to issue  common  stock were  exercised or
converted into common stock.  As of March 31, 2008, we had  outstanding  options
covering  an  aggregate  of  1,911,000  shares of common  stock and  outstanding
warrants  covering an aggregate of 23,648,631  shares of common stock.  Both the
outstanding  options and warrants are excluded from our  computation  of diluted
EPS as they would be anti-dilutive. Excluded from the computation of diluted EPS
for the three months ended March 31, 2007 are options to purchase 600,000 shares
of common stock and outstanding warrants covering an aggregate of 897,100 shares
of common stock. Both the outstanding options and warrants are excluded from our
computation of diluted EPS as they would be anti-dilutive.

9. Stockholders' Equity

On January 17,  2008,  25,000  stock  options  were issued to each member of the
Board of Directors with a strike price equal to the closing price of Epic common
stock on January 17, 2008 and an expiration date of January 17, 2018.

On February 11, 2008,  200,000 stock options were issued to our Chief  Financial
Officer  with an  exercise  price of $1.02 per share and an  expiration  date of
February 11, 2018.

On February 20, 2008, the Company  acquired Epic Integrated for $600,000 in cash
and issued 1,000,000  shares of its common stock. An additional  $1,400,000 will
be paid to the three owners in periodic  installments  during 2008 and 2009. The
1,000,000  shares were shares  issued to Epic  Integrated's  owners.  The shares
issued to each owner will vest over a three year period. All or a portion of the
shares  issued to each officer will be forfeited  and be returned to the Company
if the officer  voluntarily  terminates his or her employment  prior to February
20, 2011.



                                       12
<PAGE>


                           FORWARD LOOKING STATEMENTS

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

     Epic was incorporated in Colorado on June 6, 1989.  Following its formation
in 1989 Epic was  relatively  inactive  until  April 2006,  when its  management
changed and it became involved in providing  consulting services and oil and gas
exploration and development.

     In August 2007 Epic acquired the Carnrite Group,  LLC for 3,177,812  shares
of its common stock.

     In December 2007 Epic acquired Pearl  Investment  Company  (formerly  named
Pearl  Development  Company)  for  1,486,240  shares  of its  common  stock  and
$18,720,000 in cash.

     On February 20, 2008,  Epic acquired  Epic  Integrated  Solutions,  LLC, an
unaffiliated  entity,  for cash and 1,000,000  shares of its  restricted  common
stock. At closing,  Epic paid $600,000 and issued 1,000,000 shares of its common
stock to the three owners of Epic Integrated.  An additional  $1,400,000 will be
paid to the three owners in periodic installments during 2008 and 2009.

     The Carnrite Group, Pearl Investment Company and Epic Integrated  Solutions
provide consulting  services to the oil, gas and energy industry in the areas of
engineering, construction management, operations, maintenance, oil field project
management, training, operations documentation and data management.

     Epic has a 100% working  interest in 58 shut in gas wells and a 50% working
interest in seven shut in gas wells.

Results of Operations
---------------------

     Because Epic had minimal  operations  until the  acquisition of Carnrite in
August  2007,  Epic's   historical   operating  results  and  period  to  period
comparisons are not significant until 2007. All increases in Epic's revenues and
expenses  between 2007 and 2006 are associated with the acquisitions of Carnrite
and the Pearl Investment Company. The results of operations for the three months
ended March 31, 2008 include the historical results of Epic Integrated Solutions
from and after February 20, 2008.

     Expenses which are directly related to oil and gas production are charged
to lease operating expenses. All other expenses (except depletion, accretion and
impairment), whether they relate to consulting services or oil and gas
exploration/development, are recorded as general and administrative expenses.

Three Months ended March 31, 2008 compared with March 31, 2007

Revenues were approximately $17,474,000 for the quarter ended March 31, 2008
compared with approximately $76,000 for the quarter ended March 31, 2007. The
increase of $17,398,000 was primarily the result of the acquisitions of Carnrite
in August 2007 and Pearl in December 2007.

                                       13
<PAGE>

Operating Expenses were approximately $17,361,000 for the quarter ended March
31, 2008 compared with approximately $497,000 for the quarter ended March 31,
2007 resulting in an increase of approximately of $16,864,000. This increase was
primarily the result of the acquisitions of Carnrite in August 2007 and Pearl in
December 2007.

Income (Loss) from Operations was approximately $113,000 for the quarter ended
March 31, 2008 compared with a loss from operations of approximately $422,000
for the quarter ended March 31, 2007 resulting in increased income of $535,000.
This increase was primarily the result of the acquisitions of Carnrite in August
2007 and Pearl in December 2007. One of the reasons for the minimal net income
in 2008 was an additional, unexpected increase in the number of hours to
complete a fixed price project.

Other Income (Expenses) were approximately $(1,375,000) for the quarter ended
March 31, 2008 compared with approximately $(30,000) for the quarter ended March
31, 2007, an increase of $1,345,000. The increase was primarily due to interest
expense and debt discount amortization associated with the acquisition of Pearl
in December of 2007.

Net Loss was $1,262,124 or $.03 per share for the quarter ended March 31, 2008
compared with $451,704 or $.01 per share for the quarter ended March 31, 2007
resulting in an increased loss of $810,420. One of the primary reasons for the
net loss in 2008 was the $1,399,972 of interest expense for the first three
months of 2008.

Liquidity and Capital Resources

     Epic's  sources and (uses) of cash during the three  months ended March 31,
2008 and 2007 were:
                                                         2008         2007
                                                         ----         ----

      Cash provided (used) by operations             $3,728,448   $(350,390)
      Decrease in restricted cash                     1,000,003          --
      Purchase of equipment                            (572,795)         --
      Cash from acquisition of Epic Integrated
         Solutions                                       35,037          --
      Decrease in bank overdraft                     (2,815,101)         --
      Increase in other assets                         (191,810)         --
      Borrowings (net of repayments)                      4,631     (42,184)

     Between   October  2006  and  April  2007  Epic  raised   $1,414,700,   net
commissions, from the sale of 1,455,100 shares of its common stock, plus 491,500
Series A warrants  and 963,600  Series B  warrants,  to private  investors.  The
Series A warrants  expired on December 31, 2007. Each Series B Warrant  entitles
the holder to purchase one share of Epic's  common stock at a price of $2.50 per
share at any time prior to September 30, 2009.

     On December  5, 2007 Epic sold  4,406,334  shares of its common  stock to a
group of private investors for gross proceeds of $6,609,500, or $1.50 per share.
The investors also received warrants which entitle the holders to purchase up to
4,406,334  shares of the Company's common stock. The warrants are exercisable at
a price of $1.50 per share and expire on December 5, 2012.

                                       14
<PAGE>

     On December 31, 2007 Epic sold an additional 1,023,001 shares of its common
stock to a group of private  investors for gross proceeds of $1,534,502 or $1.50
per share.  The investors  also received  warrants  which entitle the holders to
purchase  up to  1,023,001  shares of Epic's  common  stock.  The  warrants  are
exercisable at a price of $1.50 per share and expire on December 5, 2012.

     On  December  5,  2007  Epic also  sold  notes in the  principal  amount of
$20,250,000 to a second group of private investors. The notes were sold at their
face value without  discount.  The notes bear interest annually at 10% per year.
The notes are due and  payable on  December  5, 2012 and are secured by liens on
all of Epic's assets.  The purchasers of the notes also received  warrants which
entitle the holders to purchase up to 15,954,545  shares of Epic's common stock.
The  warrants  are  exercisable  at a price of $1.65  per  share  and  expire on
December 5, 2012.

     Interest on the notes is payable  quarterly with the first interest payment
due on January 1, 2008.  Beginning  December  1, 2008 Epic is  required  to make
quarterly payments of $1,265,625 toward the principal amount of the notes.

     As of April 30, 2008, Epic's backlog for consulting services to be provided
in the future was  approximately  $43.5  million.  This compares with a combined
backlog of  approximately  $19.0  million as of April 30,  2007.  Epic  believes
demand for its  services  remains  strong and will  continue to increase as Epic
expands its service regions throughout 2008.

     Epic has a loan from a private  lender which is secured by Epic's gas wells
in Rush County,  Kansas.  The loan had a principal  balance of  $2,920,867 as of
March 31, 2008,  bears  interest at 10% per year and is payable in equal monthly
installments  of $72,000.  The loan  agreement  provides that if the monthly net
income from the wells is less than  $72,000,  the  deficit  will be added to the
principal  amount of the  note.  If the  monthly  net  income  from the wells is
greater than $72,000, the net income is applied to the note principal.

     As a result of the acquisition of The Carnrite Group,  the Pearl Investment
Company and Epic Integrated,  Epic believes that cash provided by its operations
will satisfy its future capital  requirements,  including principal and interest
payments  required by the terms of the note  secured by Epic's  Kansas gas wells
and the notes sold in December 2007.

Contractual Commitments

     There  have been no  material  changes  to Epic's  contractual  commitments
during  the  first  quarter.  Please  see Note 7 to the  accompanying  financial
statements for a more  information  concerning  Epic's debt  position.  Refer to
Epic's  Annual  Report on Form  10-KSB  for  December  31,  2007 for a  complete
discussion of Epic's lease obligations.

     Except for the commitments arising from its operating leases  arrangements,
as of March 31, 2008 Epic did not have any off-balance  sheet  arrangements that
are reasonably likely to have a material effect on its financial statements.


                                       15
<PAGE>

Accounting Policies

     See Note 1 to the financial  statements included as part of this report for
information concerning Epic's accounting policies.

ITEM 4T.    CONTROLS AND PROCEDURES

     Rex Doyle, Epic's Chief Executive Officer and Michael Kinney,  Epic's Chief
Financial Officer, evaluated the effectiveness of Epic's disclosure controls and
procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934)
as of the end of the period covered by this report.  Based upon that evaluation,
Mr.  Doyle  and  Mr.  Kinney  concluded  that  Epic's  disclosure  controls  and
procedures  were  not  effective  to  ensure  that  information  required  to be
disclosed by Epic in the reports that it files or submits  under the  Securities
Exchange Act is recorded,  processed,  summarized  and reported  within the time
periods specified in the Securities and Exchange Commission's rules and forms.

     There were  significant  changes in Epic's internal  control over financial
reporting  (as  defined in Rules  13a-15(f)  and  15d-15(f)  under the 1934 Act)
during the period  ended  March 31,  2008,  that will  improve  Epic's  internal
control over  financial  reporting in the future.  Epic added a Chief  Financial
Officer and hired  consultants that have  significant  experience with technical
accounting  matters  regarding  Generally  Accepted  Accounting  Principles  and
financial reporting. In addition, Epic added accounting personnel and will begin
moving accounting activities in-house during the second quarter of 2008.

                                     PART II
                                Other Information

ITEM 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

     On February 20, 2008,  Epic acquired  Epic  Integrated  Solutions,  LLC, an
unaffiliated entity, for cash of $600,000 and 1,000,000 shares of its restricted
common stock. An additional  $1,400,000 will be paid to the three owners of Epic
Integrated  Solutions in periodic  installments during 2008 and 2009 should they
continue employment with Epic.

     Epic relied upon the exemption  provided by Section 4(2) of the  Securities
Act of 1933 in connection with the sale of these shares.

ITEM 5.   OTHER INFORMATION

     During the first quarter,  Epic's Board of Directors updated the directors'
compensation  plan for the  calendar  year  2008.  Non-employee  directors  will
receive an annual cash  retainer  of $21,000  payable  quarterly  and a grant of
25,000 stock options with an exercise price of $3.10 per share and an expiration
date of January 17, 2018. The Audit  Committee  chair will receive an additional
cash payment of $4,500.  All other  committee  chairs will receive an additional
$2,500.


                                       16
<PAGE>

ITEM 6.     EXHIBITS

Exhibit
 Number     Description of Exhibit

  31        Rule 13a-14(a) Certifications
  32        Section 1350 Certifications



                                       17
<PAGE>


                                   SIGNATURES

     Pursuant to the  requirements  of the  Securities and Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                                      EPIC ENERGY RESOURCES INC.

Date: May 20, 2008
                                  By: /s/ Rex P. Doyle
                                      -----------------------------------
                                      Rex P. Doyle, Principal Executive Officer



                                  By: /s/ Michael Kinney
                                      -------------------------------------
                                      Michael Kinney, Principal Financial and
                                       Accounting Officer




                                       18