**U.S.      SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      10-QSB**

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

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

**MAJESTIC      OIL & GAS INC.**

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

**APPLICABLE      ONLY TO CORPORATE ISSUERS**

----

| PART                  I - Financial Information                                                                                       |   |   | 3  |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|--------|----|--------|
| Item                  1. Financial Statements                                                                                         |   |   | 3  |   |
| Item                  2. Management’s Discussion and Analysis of Financial Condition and Results                  of Operations |   |   | 10 |   |
| Item                  3. Controls and Procedures                                                                                      |   |   | 14 |   |
| PART                  II - OTHER INFORMATION                                                                                          |   |   | 14 |   |
| Item                  1. Legal Proceedings                                                                                            |   |   | 14 |   |
| Item                  2. Changes in Securities                                                                                        |   |   | 14 |   |
| Item                  3. Defaults upon Senior Securities.                                                                             |   |   | 15 |   |
| Item                  4. Submission of Matters to a Vote of Security Holders.                                                         |   |   | 15 |   |
| Item                  5. Other Information.                                                                                           |   |   | 15 |   |
| Item                  6. Exhibits                                                                                                     |   |   | 15 |   |

----

**PART      I - Financial Information**

**Item      1. Financial Statements**

----

| **MAJESTIC                  OIL & GAS, INC. (A Development Stage                  Company)** |
|--------------------------------------------------------------------------------------------------|
| **CONDENSED                  CONSOLIDATED BALANCE                  SHEETS**                      |

|                                                                     |   | **June                  30,** |         |                             |   |
|--------------------------------------------------------------------------|--------|-------------------------------|--------------|----------------------------------|--------|
|                                                                     |   | **2007**                      |         | **December                  31** |   |
|                                                                     |   | **UNAUDITED**                 |         | **2006**                         |   |
|                                                                     |   |                          |         |                             |   |
| **ASSETS**                                                               |   |                          |         |                             |   |
| Cash                  and cash equivalents                               |   | **$**                         | **140,088**  |                             | **$**  | **189,304** |   |
| Trade                  receivables                                       |   |                          | **7,581**    |                             |   | **8,444** |   |
| Total                  Current Assets                                    |   |                          | **147,669**  |                             |   | **197,748** |   |
|                                                                     |   |                          |         |                             |   |   |   |
| **OIL                  AND GAS PROPERTIES**                              |   |                          |         |                             |   |   |   |
| Oil                  and gas properties, using the full                  |   |                          |         |                             |   |   |   |
| cost                  method of accounting:                              |   |                          |         |                             |   |   |   |
| Properties                  being amortized                              |   |                          | **192,187**  |                             |   | **192,187** |   |
| Properties                  not subject to amortization                  |   |                          | **47,088**   |                             |   | **-** |   |
| Less                  accumulated depletion, amortization and impairment |   |                          | **(57,100**  | **)**                            |   | **(50,500** | **)** |
| Net                  Oil and Gas Properties                              |   |                          | **182,175**  |                             |   | **141,687** |   |
|                                                                     |   |                          |         |                             |   |   |   |
| **OTHER                  ASSETS**                                        |   |                          |         |                             |   |   |   |
| Website                  development costs                               |   |                          | **2,500**    |                             |   | **-** |   |
|                                                                     |   |                          |         |                             |   |   |   |
| Total                  Assets                                            |   | **$**                         | **332,344**  |                             | **$**  | **339,435** |   |
|                                                                     |   |                          |         |                             |   |   |   |
| **LIABILITIES                  AND STOCKHOLDERS' EQUITY**                |   |                          |         |                             |   |   |   |
| Accounts                  payable                                        |   | **$**                         | **10,646**   |                             | **$**  | **3,319** |   |
| Production                  taxes and royalties payable                  |   |                          | **2,523**    |                             |   | **12,225** |   |
| Total                  Liabilities                                       |   |                          | **13,169**   |                             |   | **15,544** |   |
|                                                                     |   |                          |         |                             |   |   |   |
| Common                  stock, no par value-                             |   |                          |         |                             |   |   |   |
| Authorized                  Shares - 100,000,000                         |   |                          |         |                             |   |   |   |
| Issued                  & Outstanding: 6,372,000 shares              |   |                          | **657,000**  |                             |   | **624,000** |   |
| (Deficit)                  accumulated during the development stage      |   |                          | **(337,825** | **)**                            |   | **(300,109** | **)** |
| Total                  Stockholders' Equity                              |   |                          | **319,175**  |                             |   | **323,891** |   |
|                                                                     |   | **$**                         | **332,344**  |                             | **$**  | **339,435** |   |

----

| **MAJESTIC                    OIL & GAS, INC. (A Development Stage                    Company)** |
|------------------------------------------------------------------------------------------------------|
| **CONDENSED                    CONSOLIDATED STATEMENTS OF                    OPERATIONS**            |

|                                               |   | **Three                  Months**  |          | **Three                  Months**  |   | **Six                  Months**    |   | **Six                  Months**    |          | **Inception**                         |   |
|----------------------------------------------------|--------|------------------------------------|---------------|------------------------------------|--------|------------------------------------|--------|------------------------------------|---------------|---------------------------------------|--------|
|                                               |   | **Ended**                          |          | **Ended**                          |   | **Ended**                          |   | **Ended**                          |          | **(April                  16, 2002)** |   |
|                                               |   | **June                  30, 2007** |          | **June                  30, 2006** |   | **June                  30, 2007** |   | **June                  30, 2006** |          | **To                  June 30, 2007** |   |
|                                               |   | **UNAUDITED**                      |          | **UNAUDITED**                      |   | **UNAUDITED**                      |   | **UNAUDITED**                      |          | **UNAUDITED**                         |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |
| **REVENUE**                                        |   | **$**                              | **7,582**     |                               | **$**  | **9,686**                          |   | **$**                              | **16,377**    |                                  | **$**  | **27,532** |   | **$** | **271,784** |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| **EXPENSES**                                       |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| Administrative                  staff              |   |                               | **3,069**     |                               |   | **1,719**                          |   |                               | **5,178**     |                                  |   | **3,334** |   |   | **20,336** |   |
| Organization                  expenses             |   |                               | **-**         |                               |   | **-**                              |   |                               | **-**         |                                  |   | **-** |   |   | **301,115** |   |
| Taxes                  & royalties             |   |                               | **1,906**     |                               |   | **2,435**                          |   |                               | **4,117**     |                                  |   | **3,293** |   |   | **74,636** |   |
| Well                  operating fees               |   |                               | **250**       |                               |   | **250**                            |   |                               | **375**       |                                  |   | **500** |   |   | **6,919** |   |
| Legal,                  accounting and filing fees |   |                               | **11,425**    |                               |   | **4,742**                          |   |                               | **27,284**    |                                  |   | **17,572** |   |   | **93,920** |   |
| Consulting                                         |   |                               | **2,500**     |                               |   | **-**                              |   |                               | **2,500**     |                                  |   | **-** |   |   | **30,500** |   |
| Engineering                                        |   |                               | **2,362**     |                               |   | **-**                              |   |                               | **2,362**     |                                  |   | **-** |   |   | **3,862** |   |
| Travel                                             |   |                               | **-**         |                               |   | **-**                              |   |                               | **-**         |                                  |   | **-** |   |   | **2,699** |   |
| Depletion                  and amortization        |   |                               | **3,100**     |                               |   | **5,000**                          |   |                               | **6,600**     |                                  |   | **10,000** |   |   | **57,100** |   |
| Transfer                  agent fees               |   |                               | **1,068**     |                               |   | **450**                            |   |                               | **1,943**     |                                  |   | **900** |   |   | **9,336** |   |
| Bank                  charges                      |   |                               | **38**        |                               |   | **-**                              |   |                               | **38**        |                                  |   | **-** |   |   | **396** |   |
| Field                  expenses                    |   |                               | **1,688**     |                               |   | **610**                            |   |                               | **2,512**     |                                  |   | **829** |   |   | **4,515** |   |
| Office                  expenses                   |   |                               | **-**         |                               |   | **-**                              |   |                               | **797**       |                                  |   | **275** |   |   | **1,851** |   |
| Phone                  and utilities               |   |                               | **197**       |                               |   | **203**                            |   |                               | **387**       |                                  |   | **421** |   |   | **2,510** |   |
| Currency                  exchange (gain) loss     |   |                               | **-**         |                               |   | **-**                              |   |                               | **-**         |                                  |   | **-** |   |   | **(86** | **)** |
|                                               |   |                               | **27,603**    |                               |   | **15,409**                         |   |                               | **54,093**    |                                  |   | **37,124** |   |   | **609,609** |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| **NET                  INCOME (LOSS)**             |   |                               | **(20,021**   | **)**                              |   | **(5,723**                         | **)**  | **$**                              | **(37,716**   | **)**                                 |   | **(9,592** | **)** | **$** | **(337,825** | **)** |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| **EARNINGS                  PER SHARE**            |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| Net                  Income, basic and diluted     |   | **$**                              | **(0.00**     | **)**                              | **$**  | **(0.00**                          | **)**  | **$**                              | **(0.01**     | **)**                                 | **$**  | **(0.00** | **)** |   |   |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| Weighted                  average number of shares |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| outstanding                                        |   |                               | **6,251,470** |                               |   | **6,240,000**                      |   |                               | **6,251,470** |                                  |   | **6,240,000** |   |   |   |   |
| Diluted                  potential shares -        |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| stock                  warrants                    |   |                               | **-**         |                               |   | **-**                              |   |                               | **-**         |                                  |   | **-** |   |   |   |   |
|                                               |   |                               |          |                               |   |                               |   |                               |          |                                  |   |   |   |   |   |   |
| Adjusted                  weighted average shares  |   |                               | **6,251,470** |                               |   | **6,240,000**                      |   |                               | **6,251,470** |                                  |   | **6,240,000** |   |   |   |   |

----

| **MAJESTIC                  OIL & GAS, INC. (A Development Stage                  Company)** |
|--------------------------------------------------------------------------------------------------|
| **CONDENSED                  CONSOLIDATED STATEMENTS OF STOCKHOLDERS'                  EQUITY**  |

|                                                    |   |                              |          | **(Deficit)**   |   |        |   |
|---------------------------------------------------------|--------|-----------------------------------|---------------|-----------------|--------|-------------|--------|
|                                                    |   |                              |          | **Accumulated** |   |        |   |
|                                                    |   |                              |          | **During**      |   |        |   |
|                                                    |   | **Common                  Stock** |          | **Development** |   |        |   |
|                                                    |   | **Shares**                        |          | **Amount**      |   | **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 (UNAUDITED)        |   |                              | **132,000**   |            |   | **33,000**  |   |   | **-** |   |   | **33,000** |   |
| Net                  loss for the six months            |   |                              |          |            |   |        |   |   |   |   |   |   |   |
| ended                  June 30, 2007 (UNAUDITED)        |   |                              | **-**         |            |   | **-**       |   |   | **(37,716** | **)** |   | **(37,716** | **)** |
|                                                    |   |                              |          |            |   |        |   |   |   |   |   |   |   |
| **BALANCE,                  JUNE 30, 2007 (UNAUDITED)** |   |                              | **6,372,000** |            | **$**  | **657,000** |   | **$** | **(337,825** | **)** | **$** | **319,175** |   |

----

| **MAJESTIC                  OIL & GAS, INC. (A Development Stage                  Company)** |
|--------------------------------------------------------------------------------------------------|
| **CONDENSED                  CONSOLIDATED STATEMENTS OF CASH                  FLOWS**            |

|                                                      |   |                               |        |                               |   | **Inception**                         |   |
|-----------------------------------------------------------|--------|------------------------------------|-------------|------------------------------------|--------|---------------------------------------|--------|
|                                                      |   | **Six                  Months**    |        | **Six                  Months**    |   | **(April                  16, 2002)** |   |
|                                                      |   | **Ended**                          |        | **Ended**                          |   | **Through**                           |   |
|                                                      |   | **June                  30, 2007** |        | **June                  30, 2006** |   | **June                  30, 2007**    |   |
|                                                      |   | **UNAUDITED**                      |        | **UNAUDITED**                      |   | **UNAUDITED**                         |   |
|                                                      |   |                               |        |                               |   |                                  |   |
| **OPERATING                  ACTIVITIES**                 |   |                               |        |                               |   |                                  |   |
| Net                  income (loss)                        |   | **$**                              | **(37,716** | **)**                              | **$**  | **(9,592**                            | **)**  | **$** | **(337,825** | **)** |
| Changes                  and credits to net income (loss) |   |                               |        |                               |   |                                  |   |   |   |   |
| not                  affecting cash                       |   |                               |        |                               |   |                                  |   |   |   |   |
| Depletion                  and amortization               |   |                               | **6,600**   |                               |   | **10,000**                            |   |   | **57,100** |   |
| Organizational                  expenses paid with        |   |                               |        |                               |   |                                  |   |   |   |   |
| stock                                                     |   |                               | **-**       |                               |   | **-**                                 |   |   | **300,000** |   |
| Legal                  fees paid with stock               |   |                               | **-**       |                               |   | **-**                                 |   |   | **25,000** |   |
| Changes                  in assets and liabilities        |   |                               |        |                               |   |                                  |   |   |   |   |
| Trade                  receivables                        |   |                               | **863**     |                               |   | **27,891**                            |   |   | **(7,581** | **)** |
| Production                  taxes and royalties payable   |   |                               | **(9,702**  | **)**                              |   | **(2,510**                            | **)**  |   | **2,523** |   |
| Accounts                  payable                         |   |                               | **7,327**   |                               |   | **-**                                 |   |   | **10,646** |   |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **NET                  CASH FROM (USED FOR)**             |   |                               |        |                               |   |                                  |   |   |   |   |
| **OPERATING                  ACTIVITIES**                 |   |                               | **(32,628** | **)**                              |   | **25,789**                            |   |   | **49,863** |   |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **INVESTING                  ACTIVITIES**                 |   |                               |        |                               |   |                                  |   |   |   |   |
| Website                  development                      |   |                               | **(2,500**  | **)**                              |   | **-**                                 |   |   | **(2,500** | **)** |
| Additions                  to oil and gas properties      |   |                               | **(47,088** | **)**                              |   | **-**                                 |   |   | **(79,275** | **)** |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **NET                  CASH USED FOR INVESTING**          |   |                               |        |                               |   |                                  |   |   |   |   |
| **ACTIVITIES**                                            |   |                               | **(49,588** | **)**                              |   | **-**                                 |   |   | **(81,775** | **)** |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **FINANCING                  ACTIVITIES**                 |   |                               |        |                               |   |                                  |   |   |   |   |
| Proceeds                  from issuance of stock          |   |                               | **33,000**  |                               |   | **-**                                 |   |   | **172,000** |   |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **NET                  CASH USED FROM FINANCING**         |   |                               |        |                               |   |                                  |   |   |   |   |
| **ACTIVITIES**                                            |   |                               | **33,000**  |                               |   | **-**                                 |   |   | **172,000** |   |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **NET                  CHANGE IN CASH AND CASH**          |   |                               |        |                               |   |                                  |   |   |   |   |
| **EQUIVALENTS**                                           |   |                               | **(49,216** | **)**                              |   | **25,789**                            |   |   | **140,088** |   |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **CASH                  AND CASH EQUIVALENTS AT**         |   |                               |        |                               |   |                                  |   |   |   |   |
| **BEGINNING                  OF PERIOD**                  |   |                               | **189,304** |                               |   | **162,732**                           |   |   | **-** |   |
|                                                      |   |                               |        |                               |   |                                  |   |   |   |   |
| **CASH                  AND CASH EQUIVALENTS AT**         |   |                               |        |                               |   |                                  |   |   |   |   |
| **END                  OF PERIOD**                        |   | **$**                              | **140,088** |                               | **$**  | **188,521**                           |   | **$** | **140,088** |   |

----

| **MAJESTIC                  OIL & GAS, INC. (A Development Stage                  Company)**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **NOTES                  TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
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| Notes                  to Unaudited June 30, 2007 Financial Statements:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
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| Note                  1 - Business Activity and Basis of Presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
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| *Principle                  Business Activity*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|  Majestic                  Oil & Gas, Inc. (Company) is a development stage enterprise and its                  operations consist of oil and natural gas development and production                  in                  the Rocky Mountain region. The financial statements and notes to                  the                  financial statements are the representation of the Company's management,                  who is responsible for their integrity and objectivity. The accounting                  polices of the Company are in accordance with generally accepted                  accounting principles and conform to the standards applicable to                  development stage enterprises.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| *Basis                  of Presentation*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|  The                  accompanying interim financial statements of the Company are unaudited.                  In                  the opinion of management, the interim data includes all adjustments,                  consisting only of normal recurring adjustments necessary for a                  fair                  presentation of the results for the interim period. The results                  of                  operations for the six months ended June 30, 2007 are not necessarily                  indicative of the operating results for the entire                  year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| We                  have prepared the financial statements included herein pursuant                  to the                  rules and regulations of the Securities and Exchange Commission.                  Certain                  information and footnote disclosures normally included in financial                  statements prepared in accordance with generally accepted accounting                  principles have been condensed or omitted pursuant to such rules                  and                  regulations. We believe the disclosures made are adequate to make                  the                  information not misleading and recommend that these condensed financial                  statements be read in conjunction with the financial statements                  and notes                  included in our Form 10-KSB for the year ended December 31,                  2006.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Note                  2 - Basis of Accounting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| The                  accompanying financial statements have been prepared using accounting                  principles applicable to a going concern, which contemplates the                  realization of assets and extinguishment of liabilities in the                  normal                  course of business. As shown in the accompanying condensed balance                  sheet                  the Company has an accumulated deficit of ($337,825) through June                  30,                  2007. This and other factors may indicate that the Company may                  be unable                  to continue in existence. The Company's financial statements do                  not                  include any adjustments related to the realization of the carrying                  value                  of assets or the amounts and classification of liabilities that                  might be                  considered necessary should the Company be unable to continue in                  existence. The Company's ability to establish itself as a going                  concern is                  dependent upon its ability to obtain additional financing in order                  to fund                  exploration and development activities of oil and gas interests                  and,                  ultimately, to achieve profitable operations. Management believes                  that it                  can be successful in obtaining                  either debt or equity financing that will enable the Company to                  continue                  in existence and establish itself as a going                  concern. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| These                  interim financial statements are prepared using the significant                  accounting                  policies disclosed in the Company's December 31, 2006 annual audited                  financial statements, except that certain significant accounting                  policies                  were adopted during the six months ended June 30, 2007:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| *Adopted                  prior to the six months ended June 30, 2007 -*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| *Oil                  and Gas Interests*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|  The                  Company utilizes the full cost method of accounting for oil and                  gas                  activities. Under this method, subject to a limitation based on                  estimated                  value, all costs associated with property acquisition, exploration                  and                  development, including costs of unsuccessful exploration, are capitalized                  within a cost center. No gain or loss is recognized upon the sale                  or                  abandonment of undeveloped or producing oil and gas interests unless                  the                  sale represents a significant portion of oil and gas interests                  and the                  gain significantly alters the relationship between capitalized                  costs and                  proved oil and gas reserves of the cost center. Depreciation, depletion                  and amortization of oil and gas interests is computed on the units                  of                  production method based on proved reserves, or upon reasonable                  estimates                  where proved reserves have not yet been established due to the                  recent                  commencement of production. Amortizable costs include estimates                  of future                  development costs of proved undeveloped                  reserves.                                                                                                                                                                                                                                        |

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| **MAJESTIC                  OIL & GAS, INC. (A Development Stage                  Company)**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **NOTES                  TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Notes                  to Unaudited June 30, 2007 Financial Statements                  (continued):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Capitalized                  costs of oil and gas interests may not exceed an amount equal to                  the                  present value, discounted at 10%, of the estimated future net cash                  flows                  from proved reserves plus the cost, or estimated fair market value                  if                  lower, of unproved interests. Should capitalized costs exceed this                  ceiling, an impairment is recognized. The present value of estimated                  future net cash flows is computed by applying year end prices of                  oil and                  gas to estimated future production of proved oil and gas reserves                  as of                  year end, less estimated future expenditures to be incurred in                  developing                  and producing the proved reserves and assuming continuation of                  existing                  economic conditions.                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| *Revenue                  Recognition*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| The                  Company recognizes oil and gas revenues from its interests in producing                  wells as oil and gas is produced and sold from the wells and when                  ultimate                  collection is reasonably assured.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| *Adopted                  during the six months ended June 30, 2007 -*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| *Website                  Development Costs*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| The                  Company has capitalized the costs associated with development of                  its                  website, and intends to amortize the cost over a three year                  period.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| *Income                  Taxes*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Effective                  January 1, 2007, the Company adopted the provisions of FASB Interpretation                  No. 48 (“FIN 48”), “Accounting for Uncertainty in Income Taxes — An                  Interpretation of FASB Statement No. 109.” FIN 48 provides detailed                  guidance for the financial statement recognition, measurement and                  disclosure of uncertain tax positions recognized in the financial                  statements in accordance with SFAS No. 109. Tax positions must                  meet a                  “more-likely-than-not” recognition threshold at the effective date to be                  recognized upon the adoption of FIN 48 and in subsequent periods.                  Upon the                  adoption of FIN 48, the Company had no unrecognized tax benefits.                  During                  the first six months of 2007, the Company recognized no adjustments                  for                  uncertain tax benefits. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Deferred                  income tax assets, if any, are adjusted by a valuation allowance,                  if                  necessary, to recognize future tax benefits only to the extent,                  based on                  available evidence, it is more likely than not such benefits will                  be                  realized. The Company would recognize interest and penalties, if                  any,                  related to uncertain tax positions in general and administrative                  expenses.                  No interest and penalties related to uncertain tax positions were                  accrued                  at June 30, 2007. The Company expects no material changes to unrecognized                  tax positions within the next twelve months.                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Note                  3 - Organization and Development of the Company                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| The                  Company was formed on April 16, 2002 as a corporation. The Company                  is                  considered a development stage enterprise as defined by Statement                  of                  Financial Accounting Standards No. 7 ("SFAS 7"). The accompanying                  interim                  financial statements reflect limited oil and gas development and                  production activities and they are not necessarily indicative of                  what the                  financial statements will reflect once the intended operations                  of the                  Company are fully underway.                                                                                                                                                                                                                                                                                                                                                                                            |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| The                  Company is currently trading on the Over the Counter Bulletin Board                  under                  the symbol MJOG.OB.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| Note                  4 - Asset Retirement Obligations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| The                  Company follows SFAS No. 143 "Accounting for Asset Retirement                  Obligations". SFAS No. 143 addresses financial accounting and reporting                  for obligations associated with the retirement of tangible long-lived                  assets and the associated asset retirement costs. SFAS No. 143                  requires                  recognition of the present value of obligations associated with                  the                  retirement of tangible long-lived assets in the period in which                  it is                  incurred. As of June 30, 2007, the estimated future cost to plug                  and                  abandon the Company's gas wells was not significant. The estimated                  liability is based on historical experience in plugging and abandoning                  wells, estimated cost to plug and abandon wells in the future and                  federal                  and state regulatory                  requirements.               |

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| **MAJESTIC                  OIL & GAS, INC. (A Development Stage                  Company)**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **NOTES                  TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Notes                  to Unaudited June 30, 2007 Financial Statements                  (continued):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Note                  5 - Related Party Transactions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Altamont                  Oil & Gas, Inc. (Altamont), an entity related through common ownership                  and management, is the operator of the wells in which the Company                  owns its                  working interests. As the operator of the wells, Altamont is responsible                  for remitting production taxes to the taxing authorities and royalty                  payments to the royalty interest owners. As of June 30, 2007, the                  Company                  had an outstanding receivable from Altamont of $7,581 for gas sales,                  and a                  payable to Altamont of $2,523 for production taxes and royalties.                  The                  Company also purchased three oil and gas leases from Altamont during                  the                  six months ended June 30, 2007 for a total of $20,480. This was                  the same                  amount originally paid by Altamont to acquire the                  leases.                                                                                                                                                                                                                                                       |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Note                  6 - Farm Out Agreement                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| The                  Company entered into a Farm-out Agreement with Altamont and Numbers,                  Inc                  to drill a 10-well natural gas development program. This development                  program will involve the drilling of 5 wells in the Lake Frances                  Gas Field                  and 5 wells in the Williams Gas Field, located in Pondera County, Montana.                  The Lake Frances Field is located south of Valier, Montana just                  offsetting                  the Lake Frances reservoir. The Williams Field is located 7 miles                  east of                  the town of Valier, Montana. The locations for the development                  program                  were determined from information gathered from a geological and                  engineering study. The surveying of each location and the permitting                  of                  each drill site with the Montana Board of Oil & Gas is currently being                  completed. The Company will receive 100% of the revenues until                  the                  drilling and completion costs have been recovered, at which time                  the                  Company's interest will revert to 50%. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Note                  7 - Stock Option Plan                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| The                  Company voided a stock option plan orginally adopted April 17,                  2007 and no                  options were issued. The Company continues to evalute the granting                  of                  stock options to its employees and directors, however, no options                  are                  currently outstanding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

**Item      2. **
**Management’s      Discussion and Analysis of Financial Condition and Results of      Operations**

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*Recent      Developments*

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*Three      months ended June 30, 2007 vs. Three months ended June 30,      2006*

|   Ludwig                State 36-1 |   | Share                ofProduction                Volumes |   | Price                Per MCF |   | Share                ofProduction                Volumes |   | Price                Per MCF |   |
|----------------------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|
|                                         |   | 2007                                                     |   | 2006                         |   |
| April                                        |   |                                                     | 378.47 |                         |   | 3.50                                                     |   |                         | 363.00 |   |   | 3.75 |   |
| May                                          |   |                                                     | 370.22 |                         |   | 3.67                                                     |   |                         | 389.81 |   |   | 4.00 |   |
| June                                         |   |                                                     | 339.08 |                         |   | 3.80                                                     |   |                         | 374.55 |   |   | 3.15 |   |

|   Boucher                27-1 |   | Share                ofProduction                Volumes |   | Price                Per MCF |   | Share                ofProduction                Volumes |   | Price                Per MCF |   |
|-----------------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|
|                                    |   | 2007                                                     |   | 2006                         |   |
| April                                   |   |                                                     | 238.84 |                         |   | 3.50                                                     |   |                         | 327.53 |   |   | 3.75 |   |
| May                                     |   |                                                     | 222.13 |                         |   | 3.67                                                     |   |                         | 373.73 |   |   | 4.00 |   |
| June                                    |   |                                                     | 166.24 |                         |   | 3.80                                                     |   |                         | 370.63 |   |   | 3.15 |   |

*Six      months ended June 30, 2007 vs. Six months ended June 30, 2006*

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|  Ludwig                State 36-1 |   | Share                ofProduction                Volumes |   | Price                Per MCF |   | Share                ofProduction                Volumes |   | Price                Per MCF |   |
|----------------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|
|                                   |   | 2007                                                     |   | 2006                         |   |
| January                                |   |                                                     | 426.94 |                         |   | 3.57                                                     |   |                         | 446.33 |   |   | 9.00 |   |
| February                               |   |                                                     | 365.06 |                         |   | 3.53                                                     |   |                         | 380.33 |   |   | 5.80 |   |
| March                                  |   |                                                     | 397.24 |                         |   | 3.83                                                     |   |                         | 434.36 |   |   | 4.60 |   |
| April                                  |   |                                                     | 378.47 |                         |   | 3.50                                                     |   |                         | 363.00 |   |   | 3.75 |   |
| May                                    |   |                                                     | 370.22 |                         |   | 3.67                                                     |   |                         | 389.81 |   |   | 4.00 |   |
| June                                   |   |                                                     | 339.08 |                         |   | 3.80                                                     |   |                         | 374.55 |   |   | 3.15 |   |

|   Boucher                27-1 |   | Share                ofProduction                Volumes |   | Price                Per MCF |   | Share                ofProduction                Volumes |   | Price                Per MCF |   |
|-----------------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|----------------------------------------------------------|--------|------------------------------|--------|
|                                    |   | 2007                                                     |   | 2006                         |   |
| January                                 |   |                                                     | 297.83 |                         |   | 3.57                                                     |   |                         | 590.70 |   |   | 9.00 |   |
| February                                |   |                                                     | 242.14 |                         |   | 3.53                                                     |   |                         | 408.17 |   |   | 5.80 |   |
| March                                   |   |                                                     | 262.14 |                         |   | 3.83                                                     |   |                         | 422.19 |   |   | 4.60 |   |
| April                                   |   |                                                     | 238.84 |                         |   | 3.50                                                     |   |                         | 327.53 |   |   | 3.75 |   |
| May                                     |   |                                                     | 222.13 |                         |   | 3.67                                                     |   |                         | 373.73 |   |   | 4.00 |   |
| June                                    |   |                                                     | 166.24 |                         |   | 3.80                                                     |   |                         | 370.63 |   |   | 3.15 |   |

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**Item      3. Controls and Procedures**

**PART      II - OTHER INFORMATION**

**Item      1. Legal Proceedings**

**Item      2. Changes in Securities**

| · | None                  of these issuances involved underwriters, underwriting discounts                  or                  commissions; |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

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| · | We                    placed restrictive legends on all certificates                    issued; |
|--------|-------------------------------------------------------------------------------------------------|

| · | No                      sales were made by general solicitation or                      advertising; |
|--------|------------------------------------------------------------------------------------------------------|

| · | The                        distributions were made only to investors who were accredited                        or                        sophisticated enough to evaluate the risks of the investment,                        based upon                        the fact that all investors were known to us and had a prior                        relationship                        with us and based upon information provided in subscription                        agreements. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Access                      to all our books and records. |
|--------|-----------------------------------------------------------|

| · | Access                            to all material contracts and documents relating to our                            operations. |
|--------|----------------------------------------------------------------------------------------------------------------------------------|

| · | The                                  opportunity to obtain any additional information,                                  to the extent we                                  possessed such information, necessary to verify                                  the accuracy of the                                  information to which the investors were given access. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Item      3. Defaults upon Senior Securities.**

**Item      4. Submission of Matters to a Vote of Security Holders.**

**Item      5. Other Information.**

**Item      6. Exhibits**
**      and Reports Filed on Form 8-K**

**Form      8-K filings**

**Exhibit      Number, Name and/or Identification of Exhibit**

| 1      | 31       | Certification                  of the Chief Executive Officer and Chief Financial Officer pursuant                  to                  Section 302 of the Sarbanes-Oxley Act of 2002                                                                                                                           |
|--------|----------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |     |                                                                                                                                                                                                                                                                                                            |
|   | Attached |                                                                                                                                                                                                                                                                                                            |
|   |     |                                                                                                                                                                                                                                                                                                            |
| 2      | 32       | Certification                  of the Chief Executive Officer and Chief Executive Officer and                  Chief                  Financial Officer pursuant to U.S.C. Section 1350 as adopted pursuant                  to                  Section 906 of the Sarbanes-Oxley Act of                  2002 |

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**SIGNATURES**

|         |                                                                          |                                     |
|--------------|-------------------------------------------------------------------------------|------------------------------------------|
|         | **Majestic              Oil & Gas, Inc.**                                 |
|    |                                                                     |                                |
|         |                                                                          | Date:              August 18, 2007  |
|         |                                                                          |                                     |
|              |                                                                               | /s/ Patrick              Montalban  |
|         | Patrick              Montalban                                                |
|         | Chief              Executive Officer and Chief Financial              Officer |

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