SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

[x]     Quarterly Report Pursuant to Section 13 or 15(d) Securities
Exchange Act of 1934 for Quarterly Period Ended March 31, 2009
-OR-
 [ ]     Transition Report Pursuant to Section 13 or 15(d) of the
Securities And Exchange Act of 1934 for the transaction period from
_________ to________

      Commission File Number             000-51489

                       Earth Energy Reserves, Inc.
          (Exact name of Small Business Issuer in its charter)

             Nevada                            75-3000774
  (State or other jurisdiction of           (I.R.S. Employer
    incorporation or organization           Identification No.)

          621 17th Street, #1640
            Denver, CO                                 80293
 (Address of principal executive offices)            (Zip Code)

(303) 297-0500
Registrant's Telephone number, including area code:

Indicate by check mark whether the issuer (1) 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 (section 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-accelerate filer, or a small
reporting company as defined by Rule 12b-2 of the Exchange Act):

Large accelerated filer [ ]      Non-accelerated filer [ ]
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]

The number of outstanding shares of the registrant's common stock,
September 23, 2010:

  Common Stock  -  11,059,982

<PAGE>2
Earth Energy Reserves, Inc.
FORM 10-Q
For the quarterly period ended March 31, 2009
INDEX

                                                             Page
                                                             ----

PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements (Unaudited)                      3
Item 2.  Management's Discussion and Analysis of
           Financial Condition and Results of Operations       8
Item 3.  Quantitative and Qualitative Disclosure About
           Market Risk                                         8
Item 4T. Controls and Procedures                               9

PART II - OTHER INFORMATION
Item 1.  Legal Proceedings                                    10
Item 1A. Risk Factors                                         10
Item 2.  Unregistered Sales of Equity Securities and Use
           of Proceeds                                        10
Item 3.  Defaults upon Senior Securities                      10
Item 4.  Submission of Matters to a Vote of Security
           Holders                                            10
Item 5.  Other Information                                    10
Item 6.  Exhibits                                             10

SIGNATURES



<PAGE>3
PART I
Item I - FINANCIAL STATEMENTS

Balance Sheets,
   December 31, 2008 and March 31, 2009 (unaudited)            F-1

   Statements of Operations for the Three Months
    ended March 31, 2008 and 2009 (unaudited)                  F-2

   Statements of Cash Flows for the Three Months
    ended March 31, 2008 and 2009 (unaudited)                  F-3

   Notes to Financial Statements                               F-4


<PAGE>4

EARTH ENERGY RESERVES, INC.
BALANCE SHEETS

ASSETS
<TABLE>
                                                        March 31,      December 31,
                                                           2009            2008
                                                       -----------      ---------
                                                       (Unaudited)      (Audited)

                                                         <c>             <c>
CURRENT ASSETS
  Cash                                                   $    7,170     $    8,394
                                                         ----------     ----------
      TOTAL CURRENT ASSETS                                    7,170          8,394
                                                         ----------     ----------
      TOTAL ASSETS                                       $    7,170     $    8,394
                                                         ==========     ==========

                        LIABILITIES AND STOCKHOLDERS' (DEFICIT)
CURRENT LIABILITIES
  Compensation Payable                                   $   75,000     $   75,000
  Notes Payable, Related Party                               82,817         78,223
  Advances from Majority Shareholder                         32,450         32,450
  Accrued Expenses                                           30,893         30,893
  Accrued Interest                                           17,983         15,732
  Accrued Interest, Majority Shareholder                      3,236          2,596
                                                         ----------     ----------
      TOTAL CURRENT LIABILITIES                             242,379        234,894
                                                         ----------     ----------
STOCKHOLDERS' (DEFICIT)
  Series A preferred stock $.0001 par value
    authorized 10,000,000 shares, none issued                     -              -
  Common stock, $.0001 par value,
    authorized, 90,000,000 shares, issued and
    outstanding 9,437,000 and 9,422,000 in 2009
    and 2008, respectively                                      944            942
  Additional paid-in-capital                              5,517,356      5,502,358
  Accumulated (deficit)                                  (5,753,509)    (5,729,800)
                                                         ----------     ----------
      TOTAL STOCKHOLDERS' (DEFICIT)                        (235,209)      (226,500)
                                                         ----------     ----------
      TOTAL LIABILITIES AND
       STOCKHOLDERS' (DEFICIT)                           $    7,170     $    8,394
                                                         ==========     ==========
</TABLE>
The accompanying notes are an integral
part of these financial statements.
                                   F-1



<PAGE>5
EARTH ENERGY RESERVES, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
<TABLE>
                                              Three Months Ended
                                                  March 31,
                                              ------------------
                                              2009          2008
                                              ----          ----

                                            <c>           <c>
INCOME
  Oil and Gas Income                        $      -      $  1,918
                                            --------      --------
EXPENSES
  Production Taxes                                 -            77
  General and Administrative Expenses         19,225        48,955
                                            --------      --------
    Total Operating Expenses                  19,225        49,032
                                            --------      --------
NET OPERATING LOSS                           (19,225)      (47,114)
                                            --------      --------
OTHER INCOME (EXPENSE)
  Loss on Sale of Proved Property                  -        (9,948)
  Interest Expense                            (4,484)       (3,689)
                                            --------       --------
    Total Other (Expense)                     (4,484)      (13,637)
                                            --------      --------
LOSS BEFORE INCOME TAXES                     (23,709)     (60,751)
                                            --------      --------
INCOME TAXES                                       -             -
                                            --------      --------
NET LOSS                                    $(23,709)     $(60,751)
                                            ========      ========
BASIC AND DILUTED LOSS
  PER SHARE                                 $  (0.00)     $  (0.01)
                                            ========      ========
WEIGHTED AVERAGE NUMBER OF
  COMMON SHARES OUTSTANDING
  BASIC AND DILUTED                        9,432,000    10,677,000
                                          ==========    ==========
</TABLE>
The accompanying notes are an integral
part of these financial statements.
F-2

<PAGE>6
EARTH ENERGY RESERVES, INC.
STATEMENTS OF CASH FLOWS
(UNAUDITED)
<TABLE>
                                              Three Months Ended
                                                  March 31,
                                              ------------------
                                              2009          2008
                                              ----          ----

                                            <c>           <c>
CASH FLOWS FROM OPERATING
  ACTIVITIES
Net Loss for the Period                     $ (23,709)      $ (60,751)
Adjustments to Reconcile Net Loss
  to Net Cash used by Operating Activities
    Interest Expense - Related Party            1,595           1,247
    Interest Expense - Compensation Payable     2,250           2,445
    Interest Expense - Majority Shareholder       640               -
    Loss on Sale of Proved Property                 -           9,948
Change in Operating Assets and Liabilities
  Accounts Receivable                               -           2,204
  Accrued Expenses                                  -          17,332
  Advance from Related Party                    3,000           3,000
                                            ---------      ----------
      NET CASH (USED BY)
       OPERATING ACTIVITIES                   (16,224)        (24,575)
                                            ---------      ----------
CASH FLOWS FROM INVESTING ACTIVITIES
  Sale of Proved Property                           -          63,202
                                            ---------      ----------
      NET CASH FROM INVESTING
        ACTIVITIES                                  -          63,202
                                            ---------      ----------
CASH FLOWS FROM
  FINANCING ACTIVITIES
    Sale of Common Stock                       15,000               -
                                           ----------      ----------
      NET CASH FROM FINANCING ACTIVITIES       15,000               -
                                           ----------      ----------
NET INCREASE(DECREASE) IN CASH                 (1,224)         38,627

CASH AT BEGINNING OF PERIOD                     8,394          45,089
                                           ----------      ----------
CASH AT END PERIOD                         $    7,170      $   83,716
                                           ==========      ==========
SUPPLEMENTAL CASH FLOW DISCLOSURES
    Cash Paid During the Period for:
      Interest                             $        -      $        -
                                           ==========      ==========
      Income taxes                         $        -      $        -
                                           ==========      ==========
</TABLE>
The accompanying notes are an integral
part of the financial statements.
F-3
<PAGE>7

EARTH ENERGY RESERVES, INC.

NOTES TO FINANCIAL STATEMENTS
MARCH 31, 2009

NOTE 1: ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization
------------
Earth Energy Reserves, Inc. (formerly Asian American Business
Development Company) ("Company") was incorporated in the State of
Nevada on February 12, 2002 as Wiltex First, Inc.  On March 10, 2005,
the Company filed a certificate of amendment with the State of Nevada
changing its name to Asian American Business Development Company and,
on March 13, 2006 the Company's name was changed to Earth Energy
Reserves, Inc.

Galaxy Partners, LTD. (a company owned by the majority shareholder of
the Company) and the majority shareholder have managed and partially
financed the Company since inception.

Basis of Presentation
---------------------
The accompanying financial statements have been prepared in accordance
with generally accepted accounting principles 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 footnotes required by generally accepted accounting
principles for complete financial statements.  In the opinion of
management, all adjustments considered necessary for a fair
presentation have been included.  All such adjustments are of a normal
and recurring nature.  These financial statements should be read in
conjunction with the audited financial statements at December 31, 2008.
Operating results for the three months ended March 31, 2009 are not
necessarily indicative of the results that may be expected for the
fiscal year ending December 31, 2009.

NOTE 2:  SUBSEQUENT EVENTS

The Company has evaluated subsequent events through September 23, 2010,
the date which the financial statements were available to be issued.

                               F-4

<PAGE>8

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

Trends and Uncertainties.  We intend to be an independent oil and
natural gas company engaged in the acquisition, drilling and production
of oil and natural gas in the United States.  Our future operations may
be adversely affected by our competitors, fluctuating oil prices,
changing foreign political environments and any prolonged recessionary
periods.

Investing Activities.  For the three months ended March 31, 2009, Earth
Energy did not pursue any investing activities.

For the three months ended March 31, 2008, Earth Energy sold oil and
gas leases of $63,202 resulting in net cash flows provided by investing
activities of $63,202.

Financing Activities.  During the three months ended March 31, 2009,
Earth Energy sold common stock for $15,000.  As a result, Earth Energy
had net cash provided by financing activities of $15,000.

For the three months ended March 31, 2008, Earth Energy did not pursue
any financing activities.

Results of Operations.  Earth Energy has not had any material revenue
since inception.  All expenses have been paid by the majority
shareholder or a related party owned by the majority shareholder.

For the three months ended March 31, 2009, Earth Energy did not earn
any revenues.  General and administrative expenses decreased from
$48,955 for the three months ended March 31, 2008 to $19,225 for the
three months ended March 31, 2009.  The decrease in general and
administrative expenses was due mainly to a significant reduction in
business activities.

Interest expense increased from $3,689 for the three months ended March
31, 2008 to $4,484 for the three months ended March 31, 2009.  The
increase of $795 was due to interest expense payable to a related party
and majority shareholder.

Item 3.  Quantitative and Qualitative Disclosures About Market Risk

Earth Energy does not consider the effects of interest rate movements
to be a material risk to our financial condition; does not hold any
derivative instruments; and does not engage in any hedging activities.

<PAGE>9

Item 4T.  Controls and Procedures.

During the three months ended March 31, 2009, there were no changes in
our internal controls over financial reporting (as defined in Rule 13a-
15(f) and 15d-15(f) under the Exchange Act) that have materially
affected, or are reasonably likely to materially affect, our internal
control over financial reporting.

Evaluation of Disclosure Controls and Procedures

James E. Hogue, chairman of the board, who was chief executive officer
and chief financial officer and, therefore, responsible for all
financial and accounting matters during this reporting period has
concluded that the disclosure controls and procedures were not
effective as of March 31, 2009.  These controls are meant to ensure
that information required to be disclosed by the issuer in the reports
that it files or submits under the Act is recorded, processed,
summarized and reported, within the time periods specified in the
Commission's rules and forms and to ensure that information required to
be disclosed by an issuer in the reports that it files or submits under
the Act is accumulated and communicated to the issuer's management,
including its principal executive and principal financial officers, or
persons performing similar functions, as appropriate to allow timely
decisions regarding required disclosure.

Earth Energy has been delinquent in its SEC filings since the third
quarter of 2008.  Management has only recently prepared the required
delinquent reports.  Management intends to implement internal controls
to ensure that similar situations do not occur in the future and that
required SEC filings will be timely.



<PAGE>10

PART II - OTHER INFORMATION

Item 1. Legal Proceedings. None.

Item 1A. Risk Factors.  Not applicable to smaller reporting companies.

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.
Earth Energy's website, www.earthenergyreserves.com, is
currently under reconstruction.  Upon completion, Earth Energy
will post every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T.

Item 6. Exhibits

Exhibit 31 - Certifications pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
Exhibit 32 - Certifications pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002

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.

Earth Energy Reserves, Inc.

/s/James E. Hogue             Chairman of the Board        9/23/10
------------------------
James E. Hogue(1)

/s/Steven A. Kranker         Chief Executive Officer       9/23/10
------------------------
Steven A. Kranker(2)

/s/W.A. Sikora               Chief Financial Officer       9/23/10
------------------------
W.A. Sikora(2)

(1)Mr. Hogue was Chief Executive Officer and Chief Financial Officer
during this reporting period.
(2)Appointed officers of Earth Energy Reserves effective July 1, 2010