----

----

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

| o | REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT                                   |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Nevada                                                        | 4600                                                    | 20-1673271                             |
|---------------------------------------------------------------|---------------------------------------------------------|----------------------------------------|
| (State or other jurisdiction ofincorporation or organization) | (Primary Standard IndustrialClassification Code Number) | (I.R.S. EmployerIdentification Number) |

| P.O Box 488 Cut Bank, Montana            | 59427      |
|------------------------------------------|------------|
| (Address of principal executive offices) | (Zip Code) |

| Large accelerated filer | o | Accelerated filer         | o |
|-------------------------|---|---------------------------|---|
| Non-accelerated filer   | o | Smaller Reporting Company | x |

----

----

----

| PART I — FINANCIAL INFORMATION                                         |   |   | 3  |   |
|------------------------------------------------------------------------------|--------|--------|----|--------|
| Item 1. Financial Statements                                                 |   |   | 3  |   |
| Item 2. Management’s Discussion and Analysis or Plan of Operation |   |   | 10 |   |
| Item 3. Quantitative and Qualitative Disclosure about Market Risk            |   |   | 16 |   |
| Item 4. Controls and Procedures                                              |   |   | 16 |   |
| PART II — OTHER INFORMATION                                            |   |   | 17 |   |
| Item 1. Legal Proceedings                                                    |   |   | 17 |   |
| Item 1A. Risk Factors                                                        |   |   | 17 |   |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds          |   |   | 17 |   |
| Item 3. Defaults Upon Senior Securities                                      |   |   | 17 |   |
| Item 4. (Removed and Reserved)                                               |   |   | 17 |   |
| Item 5. Other Information                                                    |   |   | 17 |   |
| Item 6. Exhibits                                                             |   |   | 17 |   |

----

|                                                                     |   | March 31, |      |   |        |   |
|--------------------------------------------------------------------------|--------|-----------|-----------|--------|-------------|--------|
|                                                                     |   | 2011      |      |   | December 31 |   |
|                                                                     |   | UNAUDITED |      |   | 2010        |   |
| ASSETS                                                                   |   |      |      |   |        |   |
| Cash and cash equivalents                                                |   | $         | 21,100    |   |        | $      | 23,200 |   |
| Trade receivables                                                        |   |      | 8,213     |   |        |   | 19,780 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| Total Current Assets                                                     |   |      | 29,313    |   |        |   | 42,980 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| OIL AND GAS PROPERTIES                                                   |   |      |      |   |        |   |   |   |
| Oil and gas properties, using the full cost method of accounting:        |   |      |      |   |        |   |   |   |
| Properties being amortized                                               |   |      | 455,894   |   |        |   | 455,894 |   |
| Properties not subject to amortization                                   |   |      | 214,307   |   |        |   | 213,852 |   |
| Less accumulated depletion, amortization and impairment                  |   |      | (194,100  | )      |        |   | (189,200 | ) |
|                                                                     |   |      |      |   |        |   |   |   |
| Net Oil and Gas Properties                                               |   |      | 476,101   |   |        |   | 480,546 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| Total Assets                                                             |   | $         | 505,414   |   |        | $      | 523,526 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                     |   |      |      |   |        |   |   |   |
|                                                                     |   |      |      |   |        |   |   |   |
| LIABILITIES                                                              |   |      |      |   |        |   |   |   |
| Accounts payable and accrued liabilities                                 |   | $         | 8,367     |   |        | $      | 475 |   |
| Production taxes and royalties payable                                   |   |      | 1,816     |   |        |   | 5,818 |   |
| Well settlement payable                                                  |   |      | 23,177    |   |        |   | 22,919 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| Total Current Liabilities                                                |   |      | 33,361    |   |        |   | 29,212 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| Asset retirement obligation                                              |   |      | 8,879     |   |        |   | 8,879 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| Total Liabilities                                                        |   |      | 42,240    |   |        |   | 38,091 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| STOCKHOLDERS' EQUITY                                                     |   |      |      |   |        |   |   |   |
| Common stock, no par value-                                              |   |      |      |   |        |   |   |   |
| Authorized Shares - 100,000,000                                          |   |      |      |   |        |   |   |   |
| Issued & Outstanding:  9,118,000 shares at March 31, 2011; |   |      | 1,314,500 |   |        |   | 1,314,500 |   |
| 9,118,000 at December 31, 2010                                           |   |      |      |   |        |   |   |   |
| Additional paid in capital                                               |   |      | 19,295    |   |        |   | 19,295 |   |
| (Deficit) accumulated during the development stage                       |   |      | (870,621  | )      |        |   | (848,360 | ) |
|                                                                     |   |      |      |   |        |   |   |   |
| Total Stockholders' Equity                                               |   |      | 463,174   |   |        |   | 485,435 |   |
|                                                                     |   |      |      |   |        |   |   |   |
| Total Liabilities & Stockholders' Equity                             |   | $         | 505,414   |   |        | $      | 523,526 |   |

----

|                                               |   | Three Months |      |   | Three Months |   |      | Inception        |   |
|----------------------------------------------------|--------|--------------|-----------|--------|--------------|--------|-----------|------------------|--------|
|                                               |   | Ended        |      |   | Ended        |   |      | (April 16, 2002) |   |
|                                               |   | March 31,    |      |   | March 31,    |   |      | March 31,        |   |
|                                               |   | 2011         |      |   | 2010         |   |      | 2011             |   |
|                                               |   | UNAUDITED    |      |   | UNAUDITED    |   |      | UNAUDITED        |   |
| REVENUE                                            |   | $            | 8,213     |   |         | $      | 6,821     |             |   | $ | 510,486 |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| PRODUCTION (LIFTING) COSTS                         |   |         | 5,339     |   |         |   | 5,334     |             |   |   | 176,287 |   |
| EXPLORATION EXPENSES                               |   |         | -         |   |         |   | -         |             |   |   | 3,862 |   |
| DEPLETION, DEPRECIATION AND AMORTIZATION           |   |         | 4,900     |   |         |   | 6,710     |             |   |   | 196,600 |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| INCOME FROM OIL & GAS PRODUCING ACTIVITIES     |   |         | (2,026    | )      |         |   | (5,223    | )                |   |   | 133,737 |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| SELLING, GENERAL &ADMINISTRATIVE EXPENSES      |   |         | 20,235    |   |         |   | 14,283    |             |   |   | 1,004,359 |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| NET (LOSS)                                         |   | $            | (22,261   | )      |         | $      | (19,506   | )                |   | $ | (870,621 | ) |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| EARNINGS PER SHARE                                 |   |         |      |   |         |   |      |             |   |   |   |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| Net Income, basic and diluted                      |   | $            | (0.00     | )      |         | $      | (0.00     | )                |   |   |   |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| Weighted average number of shares outstanding |   |         | 9,118,000 |   |         |   | 8,918,000 |             |   |   |   |   |
| Diluted potential shares - stock warrants     |   |         | -         |   |         |   | -         |             |   |   |   |   |
|                                               |   |         |      |   |         |   |      |             |   |   |   |   |
| Adjusted weighted average shares                   |   |         | 9,118,000 |   |         |   | 8,918,000 |             |   |   |   |   |

----

|                                                               |   |         |      |   |    |   |      |        |   |   | (Deficit)   |   |   |   |     |
|--------------------------------------------------------------------|--------|--------------|-----------|--------|---------|--------|-----------|-------------|--------|--------|-------------|--------|--------|--------|----------|
|                                                               |   |         |      |   |    |   |      |        |   |   | Accumulated |   |   |   |     |
|                                                               |   |         |      |   |    |   |      | Additional  |   |   | During      |   |   |   |     |
|                                                               |   | Common Stock |      |   | Paid In |   |      | Development |   |   |        |   |
|                                                               |   | Shares       |      |   | Amount  |   |      | Capital     |   |   | Stage       |   |   | Total  |     |
| BEGINNING BALANCE, INCEPTION (APRIL 16, 2002) TO DECEMBER 31, 2004 |   |         | -         |   |    | $      | -         |        |   | $      | -           |   |   | $      | -        |   |   | $ | - |   |
| Common stock issued                                                |   |         | 6,240,000 |   |    |   | 624,000   |        |   |   | -           |   |   |   | -        |   |   |   | 624,000 |   |
| Net (loss)                                                         |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | (346,422 | ) |   |   | (346,422 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2004                                         |   |         | 6,240,000 |   |    |   | 624,000   |        |   |   | -           |   |   |   | (346,422 | ) |   |   | 277,578 |   |
| Common stock issued                                                |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | -        |   |   |   | - |   |
| Net income                                                         |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | 66,381   |   |   |   | 66,381 |   |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2005                                         |   |         | 6,240,000 |   |    |   | 624,000   |        |   |   | -           |   |   |   | (280,041 | ) |   |   | 343,959 |   |
| Common stock issued                                                |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | -        |   |   |   | - |   |
| Net (loss)                                                         |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | (20,068  | ) |   |   | (20,068 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2006                                         |   |         | 6,240,000 |   |    |   | 624,000   |        |   |   | -           |   |   |   | (300,109 | ) |   |   | 323,891 |   |
| Common stock issued for services                                   |   |         | 330,000   |   |    |   | 147,000   |        |   |   | -           |   |   |   | -        |   |   |   | 147,000 |   |
| Common stock warrants exercised                                    |   |         | 938,000   |   |    |   | 234,500   |        |   |   | -           |   |   |   | -        |   |   |   | 234,500 |   |
| Common stock options issued                                        |   |         | -         |   |    |   | -         |        |   |   | 19,295      |   |   |   | -        |   |   |   | 19,295 |   |
| Net (loss)                                                         |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | (255,025 | ) |   |   | (255,025 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2007                                         |   |         | 7,508,000 |   |    |   | 1,005,500 |        |   |   | 19,295      |   |   |   | (555,134 | ) |   |   | 469,661 |   |
| Common stock issued                                                |   |         | 300,000   |   |    |   | 150,000   |        |   |   | -           |   |   |   | -        |   |   |   | 150,000 |   |
| Net (loss)                                                         |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | (68,680  | ) |   |   | (68,680 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2008                                         |   |         | 7,808,000 |   |    |   | 1,155,500 |        |   |   | 19,295      |   |   |   | (623,814 | ) |   |   | 550,981 |   |
|      Common stock issued for services     |   |         | 100,000   |   |    |   | 16,000    |        |   |   | -           |   |   |   | -        |   |   |   | 16,000 |   |
|      Common stock issued                  |   |         | 1,010,000 |   |    |   | 101,000   |        |   |   | -           |   |   |   | -        |   |   |   | 101,000 |   |
|      Net (loss)                           |   |         |      |   |    |   |      |        |   |   |        |   |   |   | (94,877  | ) |   |   | (94,877 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2009                                         |   |         | 8,918,000 |   |    |   | 1,272,500 |        |   |   | 19,295      |   |   |   | (718,691 | ) |   |   | 573,104 |   |
| Common stock issued for services                                   |   |         | 200,000   |   |    |   | 42,000    |        |   |   | -           |   |   |   | -        |   |   |   | 42,000 |   |
| Net (loss)                                                         |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | (129,669 | ) |   |   | (129,669 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, DECEMBER 31, 2010                                         |   |         | 9,118,000 |   |    |   | 1,314,500 |        |   |   | 19,295      |   |   |   | (848,360 | ) |   |   | 485,435 |   |
| Net (loss) for the three months                                    |   |         | -         |   |    |   | -         |        |   |   | -           |   |   |   | (22,261  | ) |   |   | (22,261 | ) |
|                                                               |   |         |      |   |    |   |      |        |   |   |        |   |   |   |     |   |   |   |   |   |
| BALANCE, March 31, 2011                                            |   |         | 9,118,000 |   |    | $      | 1,314,500 |        |   | $      | 19,295      |   |   | $      | (870,621 | ) |   | $ | 463,174 |   |

----

|                                                      |   |           |    |   |           |   |    | Inception        |   |
|-----------------------------------------------------------|--------|----------------|---------|--------|----------------|--------|---------|------------------|--------|
|                                                      |   | Three Months   |    |   | Three Months   |   |    | (April 16, 2002) |   |
|                                                      |   | Ended          |    |   | Ended          |   |    | Through          |   |
|                                                      |   | March 31, 2011 |    |   | March 31, 2010 |   |    | March 31, 2011   |   |
|                                                      |   | UNAUDITED      |    |   | UNAUDITED      |   |    | UNAUDITED        |   |
| OPERATING ACTIVITIES                                      |   |           |    |   |           |   |    |             |   |
| Net (loss)                                                |   | $              | (22,261 | )      |           | $      | (19,506 | )                |   | $ | (870,621 | ) |
| Changes and credits to net (loss) not affecting cash |   |           |    |   |           |   | -       |             |   |   |   |   |
| Depletion and amortization                                |   |           | 4,900   |   |           |   | 6,710   |             |   |   | 196,600 |   |
| Organizational expenses paid with stock                   |   |           | -       |   |           |   | -       |             |   |   | 300,000 |   |
| Legal fees paid with stock                                |   |           | -       |   |           |   | -       |             |   |   | 230,000 |   |
| Stock compensation expense                                |   |           | -       |   |           |   | -       |             |   |   | 21,295 |   |
| Changes in assets and liabilities                         |   |           |    |   |           |   |    |             |   |   |   |   |
| Trade receivables                                         |   |           | 11,566  |   |           |   | (998    | )                |   |   | (8,213 | ) |
| Accounts payable                                          |   |           | 8,150   |   |           |   | (2,189  | )                |   |   | 31,545 |   |
| Production taxes & royalties payable                  |   |           | (4,002  | )      |           |   | 241     |             |   |   | 1,816 |   |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
| NET CASH (USED FOR) OPERATING ACTIVITIES                  |   |           | (1,645  | )      |           |   | (15,742 | )                |   |   | (97,578 | ) |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
| INVESTING ACTIVITIES                                      |   |           |    |   |           |   |    |             |   |   |   |   |
|    Website development                     |   |           | -       |   |           |   | -       |             |   |   | (2,500 | ) |
|    Additions to oil and gas properties     |   |           | (455    | )      |           |   | (747    | )                |   |   | (501,322 | ) |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
| NET CASH (USED FOR) INVESTING ACTIVITIES                  |   |           | (455    | )      |           |   | (747    | )                |   |   | (503,822 | ) |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
| FINANCING ACTIVITIES                                      |   |           |    |   |           |   |    |             |   |   |   |   |
|    Proceeds from sale of common stock      |   |           | -       |   |           |   | -       |             |   |   | 251,000 |   |
|    Proceeds from exercise of warrants      |   |           | -       |   |           |   | -       |             |   |   | 371,500 |   |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
| NET CASH PROVIDED BY FINANCING ACTIVITIES                 |   |           | -       |   |           |   | -       |             |   |   | 622,500 |   |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
| NET CHANGE IN CASH AND CASH EQUIVALENTS                   |   |           | (2,100  | )      |           |   | (16,489 | )                |   |   | 21,100 |   |
|                                                      |   |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD          |   |           | 23,200  |   |           |   | 110,701 |             |   |   | - |   |
|                                                      |   |           |    |   |           |   |    |             |   |   |   |   |
|                                                      |   |
| CASH AND CASH EQUIVALENTS AT END OF PERIOD                |   | $              | 21,100  |   |           | $      | 94,212  |             |   | $ | 21,100 |   |

----

----

----

----

----

----

|     |   | Thee MonthsEnded March 31, 2011 |     |   | Three MonthsEndedMarch 31, 2010 |   |
|----------|--------|--------------------------------------|----------|--------|---------------------------------|--------|
| Revenue  |   | $                                    | 8,213    |   |                            | $      | 6,821 |   |
| Expenses |   | $                                    | 30,474   |   |                            | $      | 26,327 |   |
| Net Loss |   | $                                    | (22,261) |   |                            | $      | (19,506) |   |

----

| Ludwig State 36-1 |   | Share ofProductionVolumes |   |   | PricePerMCF |   |   | Share ofProductionVolumes |   |   | Price Per MCF |   |
|-----------------------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------------------|--------|
|                        |   | 2011                           |   |   | 2010        |   |
| January                     |   |                           | 155.31 |   |        |   | 2.15   |                           |   |   | 185.83                  |   |   |   | 2.90 |   |
| February                    |   |                           | 147.06 |   |        |   | 2.00   |                           |   |   | 157.37                  |   |   |   | 3.05 |   |
| March                       |   |                           | 162.11 |   |        |   | 1.88   |                           |   |   | 175.93                  |   |   |   | 2.80 |   |

| Boucher 27-1 |   | Share ofProductionVolumes |   |   | PricePerMCF |   |   | Share ofProductionVolumes |   |   | PricePerMCF |   |
|--------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|         |   | 2011                           |   |   | 2010        |   |
| January      |   |                           | 32.38  |   |        |   | 2.15   |                           |   |   | 47.03       |   |   |   | 2.90 |   |
| February     |   |                           | 32.18  |   |        |   | 2.00   |                           |   |   | 34.86       |   |   |   | 3.05 |   |
| March        |   |                           | 33.41  |   |        |   | 1.88   |                           |   |   | 43.11       |   |   |   | 2.80 |   |

| B. Ag #25-1 |   | Share ofProductionVolumes |   |   | PricePerMCF |   |   | Share ofProductionVolumes |   |   | PricePerMCF |   |
|-----------------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|                  |   | 2011                           |   |   | 2010        |   |
| January               |   |                           | 26.20  |   |        |   | 2.15   |                           |   |   | 35.00       |   |   |   | 2.90 |   |
| February              |   |                           | 22.60  |   |        |   | 2.00   |                           |   |   | 28.40       |   |   |   | 3.05 |   |
| March                 |   |                           | 24.00  |   |        |   | 1.88   |                           |   |   | 32.80       |   |   |   | 2.80 |   |

| Vandenbos #19-1 |   | Share ofProductionVolumes |   |   | PricePerMCF |   |   | Share ofProductionVolumes |   |   | PricePerMCF |   |
|-----------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|            |   | 2011                           |   |   | 2010        |   |
| January         |   |                           | 217.59 |   |        |   | 2.15   |                           |   |   | 348.15      |   |   |   | 2.90 |   |
| February        |   |                           | 196.97 |   |        |   | 2.00   |                           |   |   | 277.20      |   |   |   | 3.05 |   |
| March           |   |                           | 220.28 |   |        |   | 1.88   |                           |   |   | 305.66      |   |   |   | 2.80 |   |

|   Boucher #18-1 |   | Share ofProductionVolumes |   |   | PricePerMCF |   |   | Share ofProductionVolumes |   |   | PricePerMCF |   |
|----------------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|                 |   | 2011                           |   |   | 2010        |   |
| January              |   |                           | 132.00 |   |        |   | 2.15   |                           |   |   | 199.50      |   |   |   | 2.90 |   |
| February             |   |                           | 123.75 |   |        |   | 2.00   |                           |   |   | 148.25      |   |   |   | 3.05 |   |
| March                |   |                           | 139.25 |   |        |   | 1.88   |                           |   |   | 168.00      |   |   |   | 2.80 |   |

----

| Stoltz #18-1 |   | Share ofProductionVolumes |   |   | PricePerMCF |   |   | Share ofProductionVolumes |   |   | PricePerMCF |   |
|--------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|         |   | 2011                           |   |   | 2010        |   |
| January      |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |
| February     |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |
| March        |   |                           | -      |   |        |   | -      |                           |   |   | 0.61        |   |   |   | 2.80 |   |

| Donovan #33-3 |   | Share ofProductionVolumes |   |   | PricePerBBL |   |   | Share ofProductionVolumes |   |   | PricePerBBL |   |
|---------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|          |   | 2011                           |   |   | 2010        |   |
| January       |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |
| February      |   |                           | 32.29  |   |        |   | 76.22  |                           |   |   | 39.38       |   |   |   | 64.98 |   |
| March         |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |

| Donovan #33-2 |   | Share ofProductionVolumes |   |   | PricePerBBL |   |   | Share ofProductionVolumes |   |   | PricePerBBL |   |
|---------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|          |   | 2011                           |   |   | 2010        |   |
| January       |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |
| February      |   |                           | 13.83  |   |        |   | 76.22  |                           |   |   | -           |   |   |   | - |   |
| March         |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |

| Fields #14-34 |   | Share ofProductionVolumes |   |   | PricePerBBL |   |   | Share ofProductionVolumes |   |   | PricePerBBL |   |
|---------------|--------|--------------------------------|--------|--------|-------------|--------|--------|--------------------------------|--------|--------|-------------|--------|
|          |   | 2011                           |   |   | 2010        |   |
| January       |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |
| February      |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |
| March         |   |                           | -      |   |        |   | -      |                           |   |   | -           |   |   |   | - |   |

----

|                         |   | Drilling Activity |   |
|------------------------------|--------|-------------------|--------|
|                         |   | Gross Wells       |   |   | Net Wells |   |
| Three months ended March 31, |   | Total             |   |   | Producing |   |   | Dry |   |   | Total |   |   | Producing |   |   | Dry |   |
| 2011                         |   |              | 0      |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |
| 2010                         |   |              | 0      |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |

| Three months ended March 31,    |   | 2011   |    |   | 2010   |   |
|---------------------------------|--------|--------|---------|--------|--------|--------|
| Net Production:                 |   |   |    |   |   |   |
| Oil (Bbls)                      |   |   | 46.12   |   |   |   |   |
| Gas (Mcf)                       |   |   | 1665.08 |   |   |   | 2,392.05 |   |
|                            |   |   |    |   |   |   |   |   |
| Average Sales Prices:           |   |   |    |   |   |   |   |   |
| Oil (per Bbl)                   |   | $      | 76.22   |   |   | $      |   |   |
| Gas (per Mcf)                   |   | $      | 2.01    |   |   | $      | 2.47 |   |
|                            |   |   |    |   |   |   |   |   |
| Average Production Cost Per MCF |   | $      | 5.27    |   |   | $      | 5.04 |   |

----

----

| (a)   | Exhibits. |
|-----------------|-----------|

| Exhibit |   | Item                                                                                                                              |
|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------|
| 31.1    |   | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 |
| 32.1*   |   | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 |

----

| * | This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|               | MAJESTIC OIL & GAS, INC. |                                                                                                     |
|--------------------|------------------------------|----------------------------------------------------------------------------------------------------------|
|               |                         |                                                                                                     |   |
| Date: May 16, 2011 | By:                | /s/ Patrick Montalban                                                                               |   |
|               |                         | [Authorized Officer/principal Executive Officer,Principal Financial Officer/principal Financial Officer] |   |

----

| Exhibit |   | Item                                                                                                                              |
|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------|
| 31.1    |   | Certification of Principal Executive and Principal Financial Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 |
| 32.1*   |   | Certification of Principal Executive and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002    |

----

| * | This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 of the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general |
|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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