UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q


(Mark One)

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

                FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2009

                                       OR

 / / TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT
     OF 1934


                  FOR THE TRANSITION FROM _______ TO ________.


                        COMMISSION FILE NUMBER 000-25301


                           SIERRA RESOURCE GROUP, INC.
        _________________________________________________________________
        (Exact Name of Small Business Issuer as Specified in its Charter)


            NEVADA                                               88-0413922
_______________________________                              ___________________
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)


  6767 W. TROPICANA AVENUE, SUITE 207
           LAS VEGAS, NEVADA                                            89103
________________________________________                              __________
(Address of principal executive offices)                              (Zip code)


                    Issuer's telephone number: (702) 248-1027


                                       N/A
              ____________________________________________________
              (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) has  been  subject  to such  filing
requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted  electronically  and
posted on its corporate Web site, if any, every  Interactive  Data File required
to be submitted and posted pursuant to Rule 405 of Regulation S-T (SS 232.405 of
this chapter)  during the  preceding 12 months (or for such shorter  period that
the registrant was required to submit and post such files). Yes [ ] 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
definitions  of "large  accelerated  filer,"  "accelerated  filer" and  "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

________________________________________________________________________________

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

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

State the number of shares outstanding of each of the issuer's classes of common
equity,  for the period covered by this report and as at the latest  practicable
date:

At  September  30,  2009,  and as of the date  hereof,  there  were  outstanding
12,090,000 shares of the Registrant's Common Stock, $.001 par value.


<PAGE>


                                     PART I

                              FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS


                           SIERRA RESOURCE GROUP, INC.
                        (A Development Stage Enterprise)

                                FINANCIAL REPORTS

                               SEPTEMBER 30, 2009
                                DECEMBER 31, 2008



























                                        2


<PAGE>


                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)

                                    CONTENTS


________________________________________________________________________________

FINANCIAL STATEMENTS

          Balance Sheets                                                       4

          Statements of Operations                                             5

          Statement of Stockholders' Deficit                                   6

          Statements of Cash Flows                                             7

          Notes to Financial Statements                                     8-12
________________________________________________________________________________


















                                        3


<PAGE>

<TABLE>
<CAPTION>

                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                                 BALANCE SHEETS

                                                                     As of            As of
                                                             September 30,     December 31,
                                                                      2009             2008
                                                               (Unaudited)        (Audited)
                                                             _____________     ____________
<S>                                                              <C>            <C>
                                     ASSETS
CURRENT ASSETS
   Cash                                                          $   1,826      $     1,563
   Account receivable                                                  128              174
                                                                 _________      ___________

     Total current assets                                            1,954            1,737
                                                                 _________      ___________

   Oil & Gas interests - net                                         8,575           12,637
                                                                 _________      ___________

          Total assets                                           $  10,529      $    14,374
                                                                 =========      ===========

                      LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
     Officer advances                                            $  89,055      $    77,851
     Interest accrued-related party                                  2,496            1,188
     Note payable - related party                                   29,500                -
                                                                 _________      ___________
          Total current liabilities                                121,051           79,039
                                                                 _________      ___________

LONG-TERM LIABILITIES
   Note payable-related party                                            -           29,500
                                                                 _________      ___________

          Total long-term liabilities                                    -           29,500
                                                                 _________      ___________

          Total liabilities                                        121,051          108,539
                                                                 _________      ___________

STOCKHOLDERS' DEFICIT
     Common stock: $.001 par value;
        authorized 25,000,000 shares;
        issued and outstanding:  12,090,000
        shares at September 30, 2009 and December 31, 2008          12,090           12,090
     Accumulated deficit during development stage                 (122,612)        (106,255)
                                                                 _________     ____________

          Total stockholders' deficit                             (110,522)         (94,165)
                                                                 _________     ____________

               Total liabilities and stockholders' deficit       $  10,529      $    14,374
                                                                 =========      ===========


                 See Accompanying Notes to Financial Statements.

</TABLE>


                                        4


<PAGE>

<TABLE>
<CAPTION>

                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                            STATEMENTS OF OPERATIONS
                                  (UNAUDITED)


                                                                                                                   From inception
                                          For the three      For the three      For the nine        For the nine   (Dec. 21, 1992)
                                           months ended       months Ended      months ended        months Ended               to
                                         Sept. 30, 2009     Sept. 30, 2008    Sept. 30, 2009      Sept. 30, 2008   Sept. 30, 2009
                                         ______________     ______________    ______________      ______________   ______________
<S>                                       <C>                 <C>               <C>                 <C>             <C>

Revenues                                   $        128        $        508      $        288        $        586    $      1,275

Cost of revenue                                       -                   -                 -                   -               -
                                           ____________        ____________      ____________        ____________    ____________

           Gross profit                             128                 508               288                 586           1,275

General, selling and
   administrative expenses                        2,197               2,934            11,275              10,050          90,236
Amortization                                      1,354                   -             4,062                   -          10,618
                                           ____________        ____________      ____________        ____________    ____________
Operating loss                                   (3,423)             (2,426)          (15,049)             (9,464)        (99,579)

Other income (expense)

Interest expense                                   (436)               (742)           (1,308)               (742)         (2,496)
Impairment loss on Oil and Gas interest               -                   -                 -                   -         (10,307)
                                           ____________        ____________      ____________        ____________    ____________

Total other income (expense)                       (436)               (742)           (1,308)               (742)        (12,803)

     Net loss                              $     (3,859)       $     (3,168)     $    (16,357)       $    (10,206)   $   (112,382)
                                           ============        ============      ============        ============    ============

     Net loss per share, basic             $      (0.00)       $      (0.00)     $      (0.00)       $      (0.00)   $      (0.00)
                                           ============        ============      ============        ============    ============

     Average number of shares
     of common stock outstanding             12,090,000          12,090,000        12,090,000          12,090,000      12,090,000
                                           ============        ============      ============        ============    ============


                 See Accompanying Notes to Financial Statements.

</TABLE>


                                        5


<PAGE>

<TABLE>
<CAPTION>

                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                       STATEMENT OF STOCKHOLDERS' DEFICIT
                                   (UNAUDITED)
                                                                     Accumulated
                                                                       Deficit
                                            Common Stock               During
                                       _______________________       Development
                                        Shares         Amount           Stage          Total
                                       _________       _______       ___________      ________
<S>                                    <C>              <C>            <C>             <C>

December 21, 1992, issue
  common stock                         12,090,000       $12,090        $(10,230)       $  1,860
Net loss, December 31, 1992                                              (1,860)         (1,860)
                                       __________       _______       _________       _________

Balance, December 31, 1992             12,090,000        12,090         (12,090)              -
Net loss, December 31, 1993                                                   -               -
                                       __________       _______       _________       _________

Balance, December 31, 1993             12,090,000        12,090         (12,090)              -
Net loss, December 31, 1994                                                   -               -
                                       __________       _______       _________       _________

Balance, December 31, 1994             12,090,000        12,090          12,090)              -

Net loss, December 31, 1995                                                   -               -
                                       __________       _______       _________       _________

Balance, December 31, 1995             12,090,000        12,090         (12,090)              -

Net loss, December 31, 1996                                                   -               -
                                       __________       _______       _________       _________

Balance, December 31, 1996             12,090,000        12,090         (12,090)              -

Net loss, December 31, 1997                                                   -               -
                                       __________       _______       _________       _________

Balance December 31, 1997              12,090,000        12,090         (12,090)              -

Net loss, December 31, 1998                                                (450)           (450)

Balance, December 31, 1998             12,090,000        12,090         (12,540)           (450)

Net loss, December 31, 1999                                             (22,668)        (22,668)
                                       __________       _______       _________       _________

Balance, December 31, 1999             12,090,000        12,090         (35,208)        (23,118)

Net loss, December 31, 2000                                              (8,394)         (8,394)
                                       __________       _______       _________       _________

Balance, December 31, 2000             12,090,000        12,090         (43,602)        (31,512)

Net loss, December 31, 2001                                   -          (4,888)         (4,888)
                                       __________       _______       _________       _________

Balance, December 31, 2001             12,090,000        12,090         (48,490)        (36,400)

Net loss, December 31, 2002                                              (3,156)         (3,156)
                                       __________       _______       _________       _________

Balance, December 31, 2002             12,090,000        12,090       $ (51,646)      $ (39,556)

Net loss, December 31, 2003                                                 (85)            (85)
                                       __________       _______       _________       _________

Balance, December 31, 2003             12,090,000        12,090         (51,731)        (39,641)

Net loss, December 31, 2004                                              (2,840)         (2,840)
                                       __________       _______       _________       _________

Balance, December 31, 2004             12,090,000        12,090         (54,571)        (42,481)

Net loss, December 31, 2005                                              (8,415)         (8,415)
                                       __________       _______       _________       _________

Balance, December 31, 2005             12,090,000        12,090         (62,986)        (50,896)

Net loss, December 31, 2006                                             ( 4,387)        ( 4,387)
                                       __________       _______       _________       _________
Balance, December 31, 2006             12,090,000        12,090         (67,373)        (55,283)

Net loss, December 31, 2007                                             ( 5,280)        ( 5,280)
                                       __________       _______       _________       _________
Balance, December 31, 2007             12,090,000        12,090         (72,653)        (60,563)

Net loss, December 31, 2008                                             (33,602)        (33,602)
                                       __________       _______       _________       _________
Balance, December 31, 2008             12,090,000        12,090        (106,255)        (94,165)

Net loss, September 30, 2009                                            (16,357)        (16,357)
                                       __________       _______       _________       _________

Balance, September 30, 2009            12,090,000       $12,090       $(122,612)      $(110,522)
(unaudited)                            ==========       =======       =========       =========


                      See Accompanying Notes to Financial Statements.

</TABLE>


                                       6


<PAGE>

<TABLE>
<CAPTION>

                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                            STATEMENTS OF CASH FLOWS
                                  (UNAUDITED)


                                              For the nine        For the nine       From inception
                                              months ended        months ended      (Dec. 21, 1992)
                                            Sept. 30, 2009      Sept. 30, 2008       Sept. 30, 2009
                                            ______________      ______________       ______________
<S>                                             <C>                 <C>                <C>

CASH FLOWS FROM OPERATING ACTIVITIES

   Net loss                                     $(16,357)           $(10,206)          $ (112,382)

Adjustments to reconcile net loss to net cash
used in operating activities:
   Amortization                                    4,062                   -               10,618
   Impairment of oil and gas interest                  -                   -               10,307

Changes in operating assets and liabilities
decrease (increase) in accounts receivable            46                (375)                (128)

Increase in interest accrued-related party         1,308                 742                2,496
                                                ________            ________           __________

Net cash used in operating activities            (10,941)             (9,839)             (89,089)
                                                ________            ________           __________

CASH FLOWS FROM INVESTING ACTIVITIES

   Investment in oil and gas interests                 -             (29,500)             (29,500)
                                                ________            ________           __________

   Net cash used in investing activities               -             (29,500)             (29,500)

CASH FLOWS FROM FINANCING ACTIVITIES

   Issuance of common stock                            -                   -                1,860
   Increase in officer advances                   11,204              10,800               89,055
   Proceeds from note payable-related party            -              29,500               29,500
                                                ________            ________           __________

Net cash provided by financing activities         11,204              40,300              120,415
                                                ________            ________           __________

Net increase in cash                                 263                 961                1,826

Cash, beginning of period                          1,563                   -                    -
                                                ________            ________           __________

Cash, end of period                             $  1,826            $    961           $    1,826
                                                ========            ========           ==========

SUPPLEMENTAL CASH FLOW INFORMATION

Impairment of oil and gas interest              $      -            $      -           $   10,307
                                                ========            ========           ==========


                 See Accompanying Notes to Financial Statements.

</TABLE>


                                        7


<PAGE>


                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)


NOTE 1. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES

NATURE OF BUSINESS

Sierra Resource Group,  Inc.  ("Company") was organized  December 21, 1992 under
the laws of the State of Nevada.  The Company currently has start-up  operations
and, in accordance with Statement of Financial Accounting Standard (SFAS) No. 7,
"ACCOUNTING  AND REPORTING BY DEVELOPMENT  STAGE  ENTERPRISES,"  is considered a
Development Stage Enterprise.

The  accompanying  Financial  Statements  of Sierra  Resource  Group,  Inc. (the
"Company")  should be read in  conjunction  with the Company's  Annual Report on
Form 10-K for the year ended December 31, 2008.  Significant accounting policies
disclosed therein have not changed.

The accompanying  Financial  Statements and the related footnote information are
unaudited.  In the opinion of  management,  they  include  all normal  recurring
adjustments  necessary  for a fair  presentation  of the  balance  sheet  of the
Company as of September  30, 2009 and the results of  operations  and cash flows
for the nine months ended September 30, 2009. Results of operations reported for
the interim  periods are not  necessarily  indicative  of results for the entire
year. The Company has evaluated  subsequent events through November 6, 2009, the
date which the financial statement were available to be issued.

A summary of the Company's significant accounting policies is as follows:

ESTIMATES

The preparation of financial  statements in conformity  with generally  accepted
accounting principles 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  period.
Actual results could differ from those estimates.

CASH

For the statements of cash flows, all highly liquid investments with maturity of
three months or less are considered to be cash  equivalents.  There were no cash
equivalents as of September 30, 2009 and December 31, 2008.

INCOME TAXES

Income  taxes are  provided  for using the  liability  method of  accounting  in
accordance with SFAS No. 109 "ACCOUNTING FOR INCOME TAXES," and clarified by FIN
48,  "ACCOUNTING  FOR  UNCERTAINTY IN INCOME  TAXES--AN  INTERPRETATION  OF FASB
STATEMENT  NO.  109." A deferred  tax asset or  liability  is  recorded  for all
temporary differences between financial and tax reporting. Temporary differences
are the differences  between the reported  amounts of assets and liabilities and
their tax basis.  Deferred tax assets are reduced by a valuation allowance when,
in the opinion of  management,  it is more likely than not that some  portion or
all of the  deferred  tax assets will not be  realized.  Deferred tax assets and
liabilities  are adjusted for the effect of changes in tax laws and rates on the
date of enactment.


                                       8
<PAGE>


                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)


NOTE 1. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

SHARE BASED EXPENSES

In December 2004, the Financial  Accounting Standards Board ("FASB") issued SFAS
No. 123R "SHARE  BASED  PAYMENT."  This  statement is a revision to SFAS 123 and
supersedes  Accounting  Principles  Board (APB) Opinion No. 25,  "ACCOUNTING FOR
STOCK ISSUED TO EMPLOYEES," and amends FASB Statement No. 95, "STATEMENT OF CASH
FLOWS." This statement  requires a public entity to expense the cost of employee
services received in exchange for an award of equity instruments. This statement
also  provides  guidance  on valuing  and  expensing  these  awards,  as well as
disclosure  requirements of these equity arrangements.  The Company adopted SFAS
No. 123R upon  creation of the  company  and  expenses  share based costs in the
period incurred.

NET LOSS PER COMMON SHARE

Net loss per share is calculated in accordance  with SFAS No. 128,  "EARNING PER
SHARE." The  weighted-average  number of common shares  outstanding  during each
period is used to compute basic loss per share.  The  calculation of diluted net
loss per share gives  effect to common  stock  equivalents;  however,  potential
common  shares are  excluded  if their  effect is  antidilutive.  Basic loss per
common share is based on the weighted  average  number of shares of common stock
outstanding of 12,090,000 for the periods ended  September 30, 2009 and December
31, 2008.  For the periods ended  September 30, 2009 and December 31, 2008,  the
Company had no dilutive potential common stock.

GOING CONCERN

The Company's  financial  statements  are prepared in accordance  with generally
accepted accounting  principles applicable to a going concern. This contemplates
the  realization  of assets and the  liquidation  of  liabilities  in the normal
course of business.  Currently,  the Company  does not have  adequate  cash,  or
significant material assets, nor does it have substantial operations or a source
of revenue sufficient to cover its operation costs and allow it to continue as a
going concern. The Company has an accumulated deficit of ($122,612). The Company
will be dependent upon the raising of additional  capital  through  placement of
our  common  stock in order to  implement  its  business  plan.  There can be no
assurance  that the Company will be successful  in either  situation in order to
continue as a going  concern.  The  officers  and  directors  have  committed to
advancing certain operating costs of the Company.  These financial statements do
not include any adjustments relating to the recoverability and classification of
recorded asset amounts,  or amounts and classification of liabilities that might
result from this uncertainty.


RECENT ACCOUNTING PRONOUNCMENTS

In June 2009,  the FASB  issued SFAS No. 165,  "Subsequent  Events,"  ("SFAS No.
165").  SFAS 165 establishes  general standards of accounting for and disclosure
of  events  that  occur  after  the  balance  sheet  date but  before  financial
statements  are issued or are  available to be issued.  SFAS 165 applies to both
interim  financial  statements  and  annual  financial  statements.  SFAS 165 is
effective for interim or annual  financial  periods  ending after June 15, 2009.
SFAS 165 does not have a material impact on our financial statements.



                                       9
<PAGE>


                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)


1. NATURE OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

RECENT ACCOUNTING PRONOUNCMENTS - (CONTINUED)

In June 2009,  the FASB  issued  SFAS No.  166,  "Accounting  for  Transfers  of
Financial  Assets,  an  amendment  to SFAS  No.  140,"  ("SFAS  166").  SFAS 166
eliminates  the concept of a "qualifying  special-purpose  entity,"  changes the
requirements  for  derecognizing   financial  assets,  and  requires  additional
disclosures  in order to  enhance  information  reported  to users of  financial
statements  by  providing  greater  transparency  about  transfers  of financial
assets,  including  securitization  transactions,  and  an  entity's  continuing
involvement  in and  exposure  to the risks  related  to  transferred  financial
assets.  SFAS 166 is effective  for fiscal years  beginning  after  November 15,
2009.  The Company  will adopt SFAS 166 in fiscal  2010.  The  Company  does not
expect  that the  adoption  of SFAS  166  will  have a  material  impact  on the
financial statements.

In June 2009, the FASB issued SFAS No. 167,  "Amendments to FASB  Interpretation
No. 46(R)," ("SFAS 167").  The amendments  include:  (1) the  elimination of the
exemption  for  qualifying  special  purpose  entities,  (2) a new  approach for
determining who should consolidate a  variable-interest  entity, and (3) changes
to when it is necessary to reassess who should  consolidate a  variable-interest
entity.  SFAS 167 is effective for the first annual  reporting  period beginning
after  November  15,  2009 and for  interim  periods  within  that first  annual
reporting  period.  The Company will adopt SFAS 167 in fiscal 2010.  The Company
does not expect that the adoption of SFAS 167 will have a material impact on the
financial statements.

In June 2009,  the FASB  issued  SFAS No. 168,  "The FASB  Accounting  Standards
Codification and the Hierarchy of Generally  Accepted  Accounting  Principles--a
replacement of FASB Statement No. 162" ("SFAS 168").  SFAS 168 replaces SFAS No.
162, THE HIERARCHY OF GENERALLY ACCEPTED ACCOUNTING PRINCIPLES,  and establishes
the FASB Accounting  Standards  Codification  ("Codification")  as the source of
authoritative  accounting  principles  recognized  by the FASB to be  applied by
nongovernmental   entities  in  the  preparation  of  financial   statements  in
conformity  with GAAP.  Rules and  interpretive  releases of the  Securities and
Exchange  Commission ("SEC") under authority of federal securities laws are also
sources of authoritative GAAP for SEC registrants. The FASB will no longer issue
new  standards  in the form of  Statements,  FASB Staff  Positions,  or Emerging
Issues Task Force Abstracts;  instead the FASB will issue  Accounting  Standards
Updates.  Accounting  Standards  Updates will not be  authoritative in their own
right as they will only serve to update the  Codification.  The issuance of SFAS
168 and the  Codification  does not change GAAP. SFAS 168 becomes  effective for
interim and annual periods ending after September 15, 2009.  Management does not
expect  the  adoption  of SFAS 168 to have a  material  impact on the  Company's
financial position, cash flows and results of operations.


2. RECLASSIFICATION: STOCK SPLIT ADJUSTMENT

Certain  reclassifications  have  been  made  in the  current  year's  financial
statements.

On December 18, 1998 and July 14,  2006,  the Company  executed a forward  stock
split, effected as a stock dividend, which was originally recorded as a debit to
Additional  Paid-in Capital and a  corresponding  credit to Common Stock, in the
amount of $10,230.  During the nine months ended September 30, 2009, the Company
recorded  an  adjustment,  whereby  the  Company  recorded  a debit to  Retained
Earnings and a credit to Additional  Paid-in Capital,  in the amount of $10,230.
This adjustment did not change total stockholders  equity.  (See Note 3 for more
information regarding the stock split).


                                       10
<PAGE>

                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)



3. STOCKHOLDERS' DEFICIT

COMMON STOCK

The authorized  common stock of the Company  consists of 25,000,000  shares with
par value of $0.001.  On December  21, 1992 the  Company  authorized  and issued
1,860  shares of its no par value  common  stock in  consideration  of $1,860 in
cash.

On December  18,  1998,  the State of Nevada  approved  the  Company's  restated
Articles of Incorporation,  which increased its capitalization from 2,500 common
shares to 25,000,000  common shares.  The no par value was changed to $0.001 per
share.

On December 18, 1998, the Company's shareholders approved a forward split of its
common stock at one thousand  shares for one share of the existing  shares.  The
number of common shares  outstanding  increased  from 1,860 to 1,860,000.  Prior
period  information  has  been  restated  to  reflect  the  stock  split,  on  a
retroactive basis.

On July 14, 2006, the Company's  shareholders  declared a 5.5 share dividend for
each one share of the issued and  outstanding  shares.  The record date was July
28,  2006;  payable  July 31,  2006.  The  number of common  shares  outstanding
increased  from  1,860,000  to  12,090,000.  Prior period  information  has been
restated to reflect the stock dividend on a retroactive basis.

The Company has not authorized any preferred stock.

There are no warrants or options  outstanding  to acquire  additional  shares of
common stock of the Company.

4. RELATED PARTY TRANSACTIONS

The Company  neither owns nor leases any real or personal  property.  An officer
and resident agency of the corporation  provides office services without charge.
Such costs are immaterial to the financial statements and accordingly,  have not
been reflected therein.  The officers and directors for the Company are involved
in other  business  activities and may in the future,  become  involved in other
business  opportunities.  If a specific business  opportunity becomes available,
such  persons  may face a conflict  in  selecting  between the Company and their
other  business  interest.  The  Company  has not  formulated  a policy  for the
resolution  of such  conflicts.  As of September 30, 2009 and December 31, 2008,
the Company owed an officer $89,055 and $77,851, respectively.

During the year ended December 31, 2008, the Company entered into an "Assignment
and Quit Claim of Oil and Gas Leases"  agreement (the  "Agreement")  with Sierra
Asset  Holdings  LLC (the  "Assignor")  whereby the  Assignor  assigned  100% of
Assignor's  right,  title and interest in and to the leasehold estate in the oil
and gas  leases  located  in  Louisiana  and  Kansas for a note in the amount of
$29,500 secured by the oil and gas interests assigned. The Company is amortizing
the oil and gas interest on a 3 year  straight line method.  Total  amortization
expense for the periods  ended  September  30, 2009 and  September  30, 2008 was
$4,062 and $nil, respectively. According to the Agreement, the Assignor conveyed
100% of the .04% working  interests with a .03% net revenue interest in one well
and conveyed 100% of .035% working interests with a .03% net revenue interest in
three wells.  The Company incurred an obligation of $29,500 for the interests to
the  Assignor,  all due and payable in April 2010.  The note bears no  interest;
however the Company has decided to impute  interest based on APB 21 "INTEREST ON
RECEIVABLES  AND  PAYABLES" by imputing a reasonable  rate of interest of 6% per
annum.  The  Assignor  paid cash in the amount of  $29,500 to Natural  Oil & Gas
"Choice"  Development Fund I, LP and Team Resources,  Inc. during the year ended
December 31, 2008 for the acquired interests assigned.


                                       11


<PAGE>


                           SIERRA RESOURCE GROUP, INC.
                        (A DEVELOPMENT STAGE ENTERPRISE)
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)


4. RELATED PARTY TRANSACTIONS - (CONTINUED)

The Assignor is an affiliate of an officer and director of the Company. The note
to the  Assignor  is in the  amount of  $29,500  and is  secured  by a  security
interest in the acquired interests  assigned.  Giving effect to the transaction,
the Company is directly or indirectly obligated to the officers and directors in
the total sum of $121,051 and $108,539 as of September 30, 2009 and December 31,
2008, respectively.

























                                       12


<PAGE>


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

The discussion  contained  herein contains  "forward  looking  statements"  that
involve risk and uncertainties. These statements may be identified by the use of
terminology such as "believes,"  "expects,"  "may," "should" or "anticipates" or
expressing this terminology  negatively or similar expressions or by discussions
of strategy.  The cautionary  statements made in this Form 10Q should be read as
being applicable to all related  forward-looking  statements wherein they appear
in this  Form 10Q.  Our  actual  results  could  differ  materially  from  those
discussed in this report.

Sierra  Resource  Group,  Inc.  (sometimes the "Company")  currently has limited
assets or operations. We originally intended to engage in the acquisition of oil
and natural gas leases, primarily in East Texas. It was our intent to enter into
lease option agreements  primarily for leasehold interests in both developed and
undeveloped  acreage.  In the event any leasehold  interests were  acquired,  we
intended  to enter into  exploration  and  developmental  agreements  with third
parties  wherein said third  parties  would at its risk and  expenses,  operate,
develop and explore the property thereby relieving us of any future  significant
operating,  exploration and developmental costs. We contemplated  negotiating or
retaining  a small  overriding  royalty  interest  above the  royalty  leasehold
interest and/or retention of a working interest.  If we needed additional funds,
an offering of the Company's securities was contemplated. Of March 31, 1993, the
Company  was still  deemed to be a  developmental  stage  company  and all funds
raised in order to fulfill  our  initial  objective  had been  expended  and we,
thereafter, became dormant.

On April 30, 2008, we entered and completed our acquisition of certain assets as
described  in the  "Assignment  and Quit Claim of Oil and Gas Leases"  agreement
(the  "Agreement")  with Sierra Asset Holdings LLC (the "Assignor")  whereby the
Assignor  assigned  100% of Assignor's  right,  title and interest in and to the
leasehold estate in the oil and gas leases located in Louisiana and Kansas for a
note of $29,500 secured by the oil and gas interests assigned.

Pursuant to the Agreement,  the Assignor  conveyed 100% of .04% working interest
with a .03% net revenue  interest in one well and conveyed 100% of .035% working
interest with a .03% net revenue  interest in three wells. The Assignor had paid
$29,500 for the  interest to Natural Gas & Oil "Choice"  Development  Fund I, LP
and Team Resources, Inc. during the year ended December 31, 2008.

Paul W. Andre,  an officer and  director of the  Company,  provided the funds to
Sierra Asset  Holdings  LLC to acquire the working and net revenue  interests in
the wells from  Natural Gas & Oil "Choice  Development  Fund I, LP, an unrelated
party.

Natural Gas & Oil "Choice" Development Fund I, LP and Team Resources, Inc. (with
the other interest  holders) have assumed all future and contingent  obligations
of the Assignor  relating to the interests,  inclusive of drilling,  testing and
completion of the wells and/or  associated  with the abandonment of the well and
shut-in costs.

As of the date hereof, we can also be defined as a "shell" company.


                                       13


<PAGE>


PLAN OF OPERATION

We intend to acquire assets or shares of an entity actively engaged in a mineral
business that generates revenues in exchange for our securities.

Our plan of operations for the next nine months is as follows:

1.   We plan to investigate and attempt to attract possible mineral prospects or
     mineral businesses projects,  and merger or business acquisition candidates
     through the issuance of additional shares of our common stock. This will be
     a continuous effort.

2.   The acquisition of additional  interests in any mineral properties requires
     an  extensive  review,  as does the  investigation  of any other  merger or
     acquisition  candidate.  We are unable at this time, to determine  with any
     degree of accuracy the amount of time that it would take for us to locate a
     suitable   acquisition   or  merger   candidate  and  to  complete  such  a
     transaction.

In order to obtain  further  financing,  unless we complete an  acquisition of a
mineral prospect,  we believe that debt financing will not be an alternative for
funding  as we do not have  tangible  assets to secure  any debt  financing.  We
anticipate that any additional  funding will be in the form of equity  financing
from the  sale of our  common  stock.  However,  we do not  have  any  financing
arranged and we cannot provide investors with any assurance that we will be able
to raise sufficient funding from the sale of our common stock.

On June 29, 2005, the Securities and Exchange  Commission adopted rules amending
the Form S-8 and the Form 8-K for shell companies like us. The amendments expand
the  definition  of a shell  company to be broader  than a company  with nominal
operations/assets  or  assets  consisting  of cash  and  cash  equivalents.  The
amendments  prohibit  the use of a Form  S-8 (a form  used by a  corporation  to
register  securities  issued to an employee,  director,  officer  consultant  or
advisor,  under  certain  circumstances),  and  review the Form 8-K to require a
shell  company  to  include  current  Form  10  information,  including  audited
financial statements,  in the filing on Form 8-K that the shell company files to
report the  acquisition of the business  opportunity.  The rules are designed to
assure that investors in shell companies that acquire  operations or assets have
access on a timely basis to the kind of information as is available to investors
on public companies with continuing operations.

On February 15, 2008, the Securities and Exchange Commission adopted final rules
amending  Rule 144 (and Rule 145) for shell  companies  like us. The  amendments
currently  in full force and effect  provide  that the current  holding  periods
applicable to affiliates  and  non-affiliates  holding  restructed  stock is now
available for securities currently issued by either a reporting or non-reporting
shell company,  unless  certain  conditions are met. An investor will be able to
resell  securities  issued by a shell company  subject to Rule 144 conditions if
the  reporting  or  non-reporting  issuer  (i) had  ceased to be a shell (ii) is
subject to the Exchange Act reporting  obligations  (iii) has filed all required
Exchange Act reports during the proceeding  twelve months,  and (iv) at least 90
days has  elapsed  from the time the issuer has filed the "Form 10  Information"
reflecting  the  fact  that it had  ceased  to be a  shell  company  before  any
securities were sold under Rule 144. The amendment to Rule  144(i)(1)(i) was not
intended to capture a "start-up  company," or a company  with limited  operating
history or the shares  originally issued by us in 1992, except for the shares of
stock currently held by our officers and directors (affiliates). Our shares held
by  non-affiliates  have been  registered  under the  Securities Act of 1933, as
amended.


                                       14


<PAGE>


FINANCIAL CONDITION

Our auditor's going concern opinion and the notation in the financial statements
indicate that we do not have sufficient cash or other material assets and we are
relying on advances  from  shareholders,  officers and directors to meet limited
operating expenses.  We do not have sufficient cash or other material assets nor
do we have  sufficient  operations or an established  source of revenue to cover
our operational costs that would allow us to continue as a going concern. We are
insolvent  in that we are  unable  to pay our  debts in the  ordinary  course of
business as they become due.

Since the Company has had no operating  history nor any significant  revenues or
earnings from operations,  with no significant assets or financial resources, we
will in all likelihood sustain operating expense without corresponding revenues,
at  least  until  the  acquisition  of  additional   mineral  prospects  or  the
consummation of a business combination. This may result in the Company incurring
a net  operating  loss which will  increase  continuously  until the Company can
consummate the acquisition of mineral prospects of a business combination with a
profitable business.

LIQUIDITY AND OPERATIONAL RESULTS

The  Company  has no current  operating  history  and has  minimal  revenues  or
earnings from operations.  The Company has limited financial resources. We will,
in all likelihood, sustain operating expenses without corresponding revenues, at
least until the acquisition of additional mineral prospects or consummation of a
business  combination.  This may result in the Company incurring a net operating
loss that will  increase  continuously  until the  Company  can  consummate  the
acquisition of additional  mineral  prospects or a business  combination  with a
profitable  business  opportunity.  There is no  assurance  that the Company can
identify such a business opportunity or consummate such a business combination.

We are dependent upon officers to meet any de minimis costs that may occur. Paul
W. Andre,  an officer and  director  of the  Company,  has agreed to provide the
necessary  funds,  without  interest,  for  the  Company,  to  comply  with  the
Securities  Exchange  Act of 1934,  as amended  provided  he is an  officer  and
director of the Company  when the  obligation  is  incurred.  All  advances  are
interest free.

LIQUIDITY

As of September 30, 2009,  we had total assets of $10,529 and total  liabilities
of $121,051  and we had a negative  net worth of  $110,522.  As of December  31,
2008,  we had total  assets of $14,374 and total  liabilities  of $108,539 and a
negative net worth of $94,165.

We have  had  nominal  revenues  from  inception  (December  21,  1992)  through
September 30, 2009. We have an accumulated  deficit from inception (December 21,
1992) through September 30, 2009, of $ 122,612.

We had officer  advances as of  September  30, 2009 of $89,055 and $77,851 as of
December 31, 2008. As of September 30, 2009, the total outstanding notes payable
including  accrued  interest  is  $31,996,  which is due to an  affiliate  of an
officer  and giving  effect to the note and  accrued  interest,  the Company was
obligated to the officer as of September 30, 2009 for $121,051.

ITEM 3. EVALUATION OF DISCLOURE ON CONTROLS AND PROCEDURES

Based on an evaluation of our  disclosure  controls and procedures as of the end
of the period covered by this Form 10Q (and the financial  statements  contained
in the report),  our president and treasurer  have  determined  that our current
disclosure controls and procedures are effective.

There have not been any changes in our internal control over financial reporting
(as such term is defined in Rule 13a-15(f)  under the Exchange Act) or any other
factors during the year covered by this report,  that have materially  affected,
or are  reasonably  likely  to  materially  affect  our  internal  control  over
financial reporting.


                                       15

<PAGE>

CONTROLS AND PROCEDURES

Internal control over financial  reporting refers to the process designed by, or
under the  supervision  of,  our Chief  Executive  Officer  and Chief  Financial
Officer, and effected by our Board of Directors, management and other personnel,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial  statements for external purposes in accordance
with generally accepted accounting  principles,  and includes those policies and
procedures that:

     1)   Pertain  to the  maintenance  of  records  that in  reasonable  detail
          accurately and fairly reflect the transactions and dispositions of our
          assets.

     2)   Provide  reasonable   assurance  that  transactions  are  recorded  as
          necessary to permit preparation of financial  statements in accordance
          with generally accepted accounting  principles,  and that our receipts
          and expenditures are being made only in accordance with  authorization
          of our management and directors; and

     3)   Provide reasonable  assurance regarding prevention or timely detection
          of unauthorized acquisitions, or dispositions of our assets that could
          have a material effect on the financial statements.

Internal control over financial  reporting cannot provide absolute  assurance of
achieving financial reporting objectives because of its inherent limitations. It
is a process that  involves  human  diligence and  compliance  and is subject to
lapses in judgment and breakdown  resulting from human failures.  It also can be
circumvented by collusion or management override.

Because of such limitations, there is a risk that material misstatements may not
be prevented or detected on a timely  basis by internal  control over  financial
reporting.  However,  these  inherent  limitations  are  known  features  of the
financial  reporting  process.  Therefore,  it is  possible  to design  into the
process certain safeguards to reduce though not eliminate this risk.  Management
is responsible for establishing and maintaining  adequate  internal control over
financial reporting. To avoid segregation of duties due to management accounting
size,  management  has  engaged  an  outside  CPA to  assist  in  the  financial
reporting.

Management  has used the  framework  set forth in the report  entitled  Internal
Control  -  Integrated  Framework  published  by  the  Committee  of  Sponsoring
Organizations  of the  Treadway  Commission,  known as  COSO,  to  evaluate  the
effectiveness of our internal control over financial reporting.  Based upon this
assessment,  controls  and  procedures  were  effective  for the  quarter  ended
September 30, 2009.

The Company was not an  "accelerated  filer" for the 2008 fiscal year because it
was  qualified  as a "small  issuer."  Hence,  under  current  law, the internal
controls  certification  and  attestation  requirements  of  Section  404 of the
Sarbanes-Oxley act did not apply to the Company.


                                       16

<PAGE>


                                     PART II

                                OTHER INFORMATION

ITEM 1  -  LEGAL PROCEEDINGS................................................NONE

ITEM 1A -  RISK FACTORS

There has been no material changes in the risk factors previously disclosed.

ITEM 2 -   UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS......None

ITEM 3 -   DEFAULTS UPON SENIOR SECURITIES..................................None

ITEM 4 -   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS..............None

ITEM 5 -   OTHER INFORMATION................................................None

ITEM 6 -   EXHIBITS

The following exhibits are filed with this report:

31.1 Certification of Chief Executive Officer.

31.2 Certification of Chief Financial Officer.

32.1 Section 1350 Certification - Chief Executive Officer.

32.1 Section 1350 Certification - Chief Financial Officer.










                                       17


<PAGE>


                                   SIGNATURES


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


Dated: November 13, 2009


                           SIERRA RESOURCE GROUP, INC.


                           By: /s/ SANDRA J. ANDRE
                               _________________________________________
                                   Sandra J. Andre
                                   President and Chief Executive Officer



                           By: /s/ PAUL W. ANDRE
                               _________________________________________
                                   Paul W. Andre
                                   Treasurer and Chief Financial Officer















                                       18