UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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, 2015

   |_| Transition Report Under Section 13 or 15(d) of the Securities Exchange
                                   Act of 1934

             For the transition period from __________ to __________

                          Commission File Number: None

                           VANGUARD ENERGY CORPORATION
                    ----------------------------------------
             (Exact name of registrant as specified in its charter)

          COLORADO                                27-2888719
------------------------------                --------------------
(State or other jurisdiction                 (I.R.S. Employer
   of incorporation or                        Identification No.)
     organization)

                             2 Blvd Place, Suite 600
                               1700 Post Oak Blvd.
                              Houston, Texas 77056
                   -----------------------------------------
          (Address of principal executive offices, including Zip Code)

                                 (713) 627-2500
                      -----------------------------------
                (Issuer's telephone number, including area code)

                  --------------------------------------------
          (Former name or former address if changed since last report)

Check  whether the issuer (1) filed all reports  required to be filed by section
13 or 15(d) of the  Exchange  Act during the past 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 |X|

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

Large  accelerated  filer |_| Accelerated  filer |_|  Non-accelerated  filer |_|
Smaller reporting company |X|

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

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest  practicable date: 973,139 shares of common stock as of
March 31, 2015.

<PAGE>

                           FORWARD LOOKING STATEMENTS

     The   information   contained   in  this   Form   10-Q   contains   certain
forward-looking  statements  within the meaning of Section 27A of the Securities
Act of 1933, as amended,  Section 21E of the Securities Exchange Act of 1934, as
amended,  and the  Private  Securities  Litigation  Reform  Act of  1995.  These
forward-looking  statements  involve risks and  uncertainties,  including  among
other things,  statements  regarding our capital  needs,  business  strategy and
expectations.  Any  statement  which does not contain a  historical  fact may be
deemed  to be a  forward-looking  statement.  In some  cases,  you can  identify
forward-looking  statements  by  terminology  such as "may",  "will",  "should",
"expect",  "plan", "intend",  "anticipate",  "believe",  "estimate",  "predict",
"potential"  or  "continue",  the  negative  of such  terms or other  comparable
terminology.  In evaluating  forward  looking  statements,  you should  consider
various  factors  outlined in our Form 10-K report for the year ended  September
30, 2014, filed with the U.S.  Securities  Exchange Commission ("SEC") and, from
time to time, in other reports we file with the SEC. These factors may cause our
actual  results to differ  materially  from any  forward-looking  statement.  We
disclaim any  obligation to publicly  update these  statements,  or disclose any
difference between our actual results and those reflected in these statements.





<PAGE>

VANGUARD ENERGY CORPORATION
CONSOLIDATED BALANCE SHEETS


                                                  March 31,     September
                                                                   30,
                    ASSETS                           2015          2014
                                                 -------------  -----------
                                                 (Unaudited)

Current assets
Cash and cash equivalents                           $     32     $  39,251
Other assets
                                                           -        12,500
                                                 -------------  -----------
Total current assets                                      32        51,751

Debt issuance costs                                        -        83,654
                                                 -------------  -----------

Total assets                                        $     32     $ 135,405
                                                 =============  ===========

    LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable                                  $   56,523    $      578
Accrued interest payable
                                                      27,551       702,901
Other liabilities
                                                      16,932         8,600
Current portion of notes payable, net of
discount $- and $71,754                              146,937     2,923,040
                                                 -------------  -----------
Total current liabilities                            247,943     3,635,119

Commitments and contingencies                              -             -

Stockholders' deficit
Preferred stock, $0.00001 par value;
5,000,000 shares
   authorized; none issued or outstanding                  -             -
Common stock, $0.00001 par value; 100,000,000
and 50,000,000
  shares authorized; 973,139 and 127,114
shares issued and
  outstanding                                            973           127
Additional paid-in capital                         6,318,920     5,522,204
Accumulated deficit                               (6,567,804)   (9,022,045)
                                                 -------------  -----------

Total stockholders' deficit                         (247,911)   (3,499,714)
                                                 -------------  -----------

Total liabilities and stockholders' deficit         $     32     $ 135,405
                                                 =============  ===========


   The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       1
<PAGE>

VANGUARD ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS


                                    Three Months Ended      Six Months Ended
<TABLE>
<S>                                  <C>          <C>        <C>             <C>
                                        March 31                 March 31
                                    2015        2014         2015        2014
                                 ----------  -----------  ----------  ----------
                                 (Unaudited) (Unaudited) (Unaudited) (Unaudited)
Revenues

  Oil and gas sales              $       -     $  790,671  $       -   $ 1,521,937

Costs and expenses

  Lease operating expense                -       292,239           -       497,637

  Production taxes                       -        36,436           -        70,155

  Depreciation, depletion and
   amortization                          -       539,472           -       984,200

  Impairment of O&G properties           -       880,213           -       880,213

  Asset retirement obligation
accretion                                -        13,371           -        29,088
  General and administrative
                                    11,005       312,723      98,035       552,906
                                 ----------  -----------  ----------     ----------
Total costs and expenses            11,005     2,074,454      98,035     3,014,199
                                 ----------  -----------  ----------     ----------

Loss from operations               (11,005)   (1,283,783)    (98,035)   (1,492,262)
                                 ----------  -----------  ----------     ----------

Other income (expense)
   Other income                          -           360           -           792
  Interest income                        -            30           -           234
  Interest expense                  (5,510)     (453,995)    (18,650)     (902,494)

  Furniture and equipment
write-down                               -             -           -       (20,819)

  Gain on debt extinguishment            -             -   2,570,926             -
                                 ----------  -----------  ---------      ----------
Total other income (expense)        (5,510)                2,552,276      (922,287)
                                 ----------  -----------  ----------     ----------

Net Income (Loss) before
income taxes                        (5,510)   (1,737,388)  2,454,241    (2,414,549)

Provision for income taxes               -             -           -             -
                                 ----------  -----------  ----------    ----------

Net Income (Loss)                 $(16,515) $ (1,737,388) $2,454,241   $(2,414,549)
                                 ==========  ===========  ==========    ==========

Income (Loss) per share:

   Basic and diluted              $  (0.02) $     (13.64) $     2.52   $    (18.95)

Weighted average shares
outstanding                        973,139       127,415     973,139       127,415
</TABLE>

   The accompanying notes are an integral part of these consolidated financial
statements.

VANGUARD ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS

                                            Six Month ended March 31,
                                              2015             2014
                                         ---------------   --------------
                                          (Unaudited)       (Unaudited)
Cash flows from operating activities
  Net Income (loss)                         $ 2,454,241      $(2,414,549)

  Adjustments to reconcile net
income/(loss) to net cash from operating
activities:

    Depreciation, depletion and amortization          -          984,200
    Impairment of O&G properties                      -          880,213

    Amortization of debt issuance costs
                                                  4,107          153,914
    Gain on debt extinguishment
                                             (2,677,698)               -
    Asset retirement obligation accretion             -           29,088
    Amortization of debt discount
                                                  3,523          111,752
    Accretion of participation liability
                                                      -         (63,160)
    Furniture and equipment write-down
                                                      -           20,819
    Change in operating assets and liabilities:
      Accounts receivable                             -           62,273
      Other assets                               12,500           (5,807)
      Accounts payable                           55,945            1,653
      Accrued interest payable                   99,830                -
      Other liabilities                           8,332            3,045
                                         ---------------   --------------
Net cash from operating activities              (39,219)        (236,559)
                                         ---------------   --------------

Cash flows from investing activities
  Capital expenditures on oil and gas
properties                                            -         (958,146)
                                         ---------------   --------------
Net cash from investing activities                    -         (958,146)
                                         ---------------   --------------

Cash flows from financing activities
  Repayment of note payable                           -                -
                                         ---------------   --------------
Net cash from financing activities                    -                -
                                         ---------------   --------------
Net change in cash and cash equivalents         (39,219)      (1,194,705)

Cash and cash equivalents
  Beginning of period
                                                 39,251        1,334,285
                                         ---------------   --------------
  End of period                              $       32      $   139,580
                                          =============     =============


                                       3
<PAGE>

VANGUARD ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS

Supplemental cash flow information
                                         Six Month ended March 31,
                                              2015            2014
                                         ---------------  --------------
                                          (Unaudited)      (Unaudited)

 Interest paid                               $     -       $   681,669
 Interest capitalized (non-cash)                   -             3,677
 Noncash investing and financing
  activities:
 Capital expenditures included in
   accounts payable                                -           (36,189)
 Issuance of shares for settlement of debt   797,562                 -

   The accompanying notes are an integral part of these consolidated financial
                                  statements.

                                       4
<PAGE>


VANGUARD ENERGY CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1 - BASIS OF PRESENTATION

These consolidated financial statements of Vanguard Energy Corporation (Vanguard
or the Company)  have been  prepared in accordance  with  accounting  principles
generally  accepted in the United States of America (U.S.  GAAP). In the opinion
of management,  these financial  statements include all adjustments,  consisting
only of normal  recurring  adjustments,  necessary  for a fair  statement of the
results for the interim periods.  Certain  information,  accounting policies and
footnote  disclosures  normally  included in  financial  statements  prepared in
accordance with U.S. GAAP have been omitted  pursuant to Securities and Exchange
Commission (SEC) rules and  regulations.  These financial  statements  should be
read along with  Vanguard's  audited  financial  statements  as of September 30,
2014.

Going Concern -These financial  statements have been prepared  assuming that the
Company  will  continue  as a going  concern,  which  contemplates,  among other
things,  the  realization of assets and the  satisfaction  of liabilities in the
normal course of business.  The Company has incurred cumulative net losses since
its inception and will require capital for future  operating  activities to take
place.  The Company's  ability to raise funding through the future  issuances of
debt or common stock is unknown.  The  obtainment of additional  financing,  the
successful development of a plan of operations, and its transition,  ultimately,
to the  attainment  of  profitable  operations  are necessary for the Company to
continue  operations.  The ability to  successfully  resolve these factors raise
substantial doubt about the Company's ability to continue as a going concern.

Future  issuances of the Company's equity or debt securities will be required in
order for the Company to finance operations and continue as a going concern. The
financial  statements  do not include any  adjustments  that may result from the
outcome of these aforementioned uncertainties.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

As of March 31, 2015, Vanguard's significant accounting policies were consistent
with those  discussed in the audited  financial  statements  as of September 30,
2014.

Earnings (Loss) Per Share--Basic  earnings (loss) per share have been calculated
based upon the  weighted-average  number of common shares  outstanding.  Diluted
earnings per share have been calculated based upon the  weighted-average  number
of  common  and   potential   common   shares.   The   calculation   of  diluted
weighted-average  shares  outstanding for the three-month and six-month  periods
ended March 31, 2015 and 2014 excludes 149,394 and 192,619 shares, respectively,
issuable  pursuant to outstanding  warrants,  stock options and debt  conversion
features because their effect is anti-dilutive.

                                       5
<PAGE>

Recently Issued Accounting Pronouncements - Various accounting standards updates
have been recently issued,  most of which represented  technical  corrections to
the  accounting  literature or were  applicable to specific  industries.  No new
accounting  pronouncements  have been  issued that are likely to have a material
impact to the Company's consolidated financial statements.

NOTE 3 - SALE OF OIL AND GAS PROPERTIES/PAYMENT OF CONVERTIBLE NOTES

During 2012, the Company sold  $8,254,500 of Convertible  Promissory  Notes.  On
March 31, 2014 the Company failed to make the scheduled interest payments on the
notes.  As a result,  the note  holders  were  entitled  to declare the notes in
default,  in which case the principal amount of the notes,  plus all accrued and
unpaid interest would be immediately due and payable.

The Company's inability to make the interest payment to the note holders was the
result  of the  expenditure  of  considerable  capital  to work over some of the
Company's wells. The costs of that work far exceeded the Company's  expectations
and yet the work was  required  in order to get the wells back into  production.
This depleted the Company's cash position far below its  expectations.  Further,
although the initial work on those wells was  successful in boosting  production
momentarily,   further   complications   resulted  in  lower   production   than
anticipated,  which was not adequate to replenish  the cash  expended and enable
the Company to make required interest payments.

With a view to paying its note holders,  the Company, on June 17, 2014, sold its
oil and gas properties to Vast Exploration, Inc. for $5,500,000, after obtaining
approvals from the holders of a majority of the Company's  outstanding shares of
common stock and approvals of a majority of note holders.  An impairment  charge
of  $880,213  was  recognized  during the  quarter  ended March 31, 2014 for the
amount by which  the  carrying  value of the  Company's  oil and gas  properties
exceeded the estimated net proceeds from the planned sale. The Company  adjusted
the impairment  charge by $(18,634) during the quarter ended June 30, 2014 based
on final closing of the transaction.

The Company used the proceeds from the sale to:

         Pay holders of the convertible notes           $5,259,706
         Purchase the net profits interest held by
            Vanguard Net Profits, LLC                      230,619
         Pay legal and closing costs                         9,675
                                                       -----------
                                                        $5,500,000

A loss on early  extinguishment  of debt totaling $380,539 was recognized during
the  quarter  ended  June 30,  2014 for the  write-off  of a portion of the debt
issuance costs and debt issuance discount associated with the debt repayment.

                                       6
<PAGE>

In  consideration  for accepting less than the full amount due on the notes, and
releasing their lien on the Company's oil and gas  properties,  holders of notes
in the principal of amount of $2,847,857 as a group,  agreed to receive  860,380
shares of the  Company's  stock in payment of the  remaining  balances  on their
notes,  plus  accrued  interest.  The Company  issued the  additional  shares as
payment for the notes and accrued  interest in the quarter  ended  December  31,
2014  and  recognized  a gain  on  the  extinguishment  of  this  debt  totaling
$2,570,927.

At March 31,  2015,  convertible  notes  totaling  $146,937  remain  outstanding
together with accrued interest of $27,551.

NOTE 4 - INCOME TAXES

The Company  estimates  its annual  effective  income tax rate in recording  its
quarterly  provision for income taxes in the various  jurisdictions in which the
Company  operates.  Statutory tax rate changes and other  significant or unusual
items are recognized as discrete  items in the quarter in which they occur.  The
Company recorded no income tax expense for the three-month and six-month periods
ended March 31, 2015 because the Company  estimates it will record no income tax
expense  for the year ended  September  30,  2015.  The  Company has a valuation
allowance that fully offsets net deferred tax assets.







                                    * * * * *

                                       7
<PAGE>


ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND PLAN OF
OPERATION

We have fully depleted our resources and have no assets of operational value. We
are seeking an opportunity  to merge with another  company that might provide us
with  operational and financial  capabilities to meet unpaid  obligations and to
justify a market for our stock.  Absent achieving such a transaction in the near
future, our viability is in doubt. As of March 31, 2015 the Company has not been
successful in meeting this goal;  however,  work  continues in the effort and we
believe  that before the end of the current  fiscal year a merger or sale of the
Company is possible.

ITEM 4.     CONTROLS AND PROCEDURES.

     (a) We maintain a system of controls and procedures designed to ensure that
information  required to be  disclosed in reports  filed or submitted  under the
Securities  Exchange  Act  of  1934,  as  amended  ("1934  Act"),  is  recorded,
processed,  summarized and reported  within time periods  specified in the SEC's
rules and forms and to ensure that information required to be disclosed by us in
the  reports  that we file or  submit  under  the  1934 Act is  accumulated  and
communicated to our management,  including our Principal Executive and Financial
Officer, as appropriate to allow timely decisions regarding required disclosure.
As of March 31, 2015, our Principal  Executive and Financial  Officer  evaluated
the  effectiveness  of the design and operation of our  disclosure  controls and
procedures.  Based on that  evaluation,  our  Principal  Executive and Financial
Officer concluded that our disclosure controls and procedures were effective.

     (b) Changes in  Internal  Controls.  There were no changes in our  internal
control over financial  reporting  during the three month period ended March 31,
2015 that materially  affected,  or are reasonably likely to materially  affect,
our internal control over financial reporting.

                                     PART II

ITEM 6. EXHIBITS

Exhibits

31.1    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2    Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32      Certification pursuant to Section 906 of the Sarbanes-Oxley Act.

                                       8
<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.

                                         VANGUARD ENERGY CORPORATION


Date: May 16, 2015                       By: /s/ Warren Dillard
                                             ----------------------------
                                             Warren Dillard,
                                             Chief Executive, Financial and
                                             Accounting Officer