U.S. SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549

                                  Form 10-QSB

(Mark One)

[x] Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act
of 1934

                 For the quarterly period ended June 30, 2004
-----------------------------------------------------------------------------

[ ]  Transition Report under Section 13 or 15(d)of the Exchange Act For the
     Transition Period from ________  to  ___________
-----------------------------------------------------------------------------

                         Commission File Number: 0-50732
-----------------------------------------------------------------------------

                                  NUTEK OIL, INC.
-----------------------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


             Nevada                               74-2949620
 -------------------------------   ---------------------------------------
 (State or other jurisdiction of   (I.R.S. Employer Identification Number)
  incorporation or organization)


   6330 McLeod Drive, Suite 1, Las Vegas, NV            89120
 ------------------------------------------------    -------------
    (Address of principal executive offices)          (zip code)


             702-262-2061 (Telephone)     702-262-0033 (Fax)
        ---------------------------------------------------------
                        Issuer's Telephone Number


----------------------------------------------------------------------------

Check  whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d)  of  the  Exchange  Act  of 1934 during the past 12 months (or such
shorter period that the registrant was  required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

                                                              Yes [X] No [ ]

               APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                    PROCEEDING DURING THE PRECEDING FIVE YEARS

Check whether the Registrant filed all documents  and  reports  required  to be
filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution  of
securities under a plan confirmed by a court.

                                                              Yes [ ] No [ ]

                   APPLICABLE ONLY TO CORPORATE ISSUERS

                                        1



The  Registrant has 3,007,879 outstanding, par value $.001 per share as of June
30, 2004.

Traditional Small Business Disclosure Format (check one) Yes [  ] No [X]


                                       2



PART I.  FINANCIAL INFORMATION

Item 1.   Financial Statements.................................     4
          Balance Sheet (unaudited)............................     5
          Statements of Operations (unaudited).................     6
          Statements of Cash Flows (unaudited).................     7
          Notes to Financial Statements........................  8-13

Item 2.  Management's Discussion and Analysis of Plan
           of Operation........................................    14

Item 3. Controls and Procedures................................    17




PART II. OTHER INFORMATION

Item 1.   Legal Proceedings....................................    17

Item 2.   Changes in Securities and Use of Proceeds............    17

Item 3.   Defaults upon Senior Securities......................    17

Item 4.   Submission of Matters to a Vote
           of Security Holders.................................    17

Item 5.   Other Information.....................................   17

Item 6.   Exhibits and Reports on Form 8-K......................   17

Signatures......................................................   18


                                      3




            CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This document contains forward-looking statements within the meaning of Section
27A of the Securities Act and Section 21E of the Exchange Act. All  statements,
other  than  statements  of  historical  facts, included in or  incorporated by
reference  into  this  Form  10QSB  which  address   activities,    events   or
developments  which  the Company  expects, believes or anticipates  will or may
occur in the future are   forward-looking  statements.   The  words "believes,"
"intends," "expects," "anticipates," "projects," "estimates,"   "predicts"  and
similar  expressions  are also intended to identify forward-looking statements.
These forward-looking statements include, among others,  statements concerning:
expectations,  anticipations,  beliefs,  estimations,  projections,  and  other
similar matters that are not historical facts, including such matters as future
capital and development  expenditures  and  expansion  and  growth  of business
operations.

These  statements  are  based  on certain assumptions and analysis made by  the
management of Nutek Oil Inc., ("NUTEK  OIL") in light of its Experience and its
perception  of  historical  trends,  current  conditions  and  expected  future
developments  as well as other factors  it  believes  are  appropriate  in  the
circumstances.

The Company cautions  the  reader   that  these  forward-looking statements are
subject  to  risks and uncertainties, including  those  associated  with:   the
financial environment,  general  economic,  market and business conditions, the
regulatory environment, business opportunities  that  may  be  presented to and
pursued by the Company, changes in laws or regulations, availability  to obtain
additional  financing  on  favorable  conditions,  trend projections, and other
factors, many of which are beyond the Company's control that could cause actual
events or results to differ materially from those expressed  or  implied by the
statements.  Such risks and uncertainties include those risks and uncertainties
identified  in the Description of the Business and Management's Discussion  and
Analysis sections of this document and risk factors discussed from time to time
in the Company's filings with the Securities and Exchange Commission.

Significant factors  that  could  prevent the Company from achieving its stated
goals include: the inability of the  Company  to  obtain  financing for capital
expenditures or acquisitions and adverse changes in the regulatory  environment
affecting the Company.

The  cautionary statements contained or referred to in this document should  be
considered  in  connection  with any subsequent written or oral forward-looking
statements that may be issued  by the Company or persons acting on its or their
behalf.

The company undertakes no obligation  to  release publicly any revisions to any
forward-looking statements to reflect events  or  circumstances  after the date
hereof or to reflect the occurrence of unanticipated events.




                     PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS

The unaudited financial statements of registrant for the six months  ended June
30, 2004, follow.  As  prescribed    by   item   310   of  Regulation S-B,  the
independent  auditor has reviewed these unaudited interim financial  statements
of the registrant  for  the  three  months ended June 30, 2004.  The  financial
statements reflect all adjustments, which  are,  in  the opinion of management,
necessary to a fair statement of the results for the interim period presented.

                                         4


			 NUTEK OIL, INC.
			 BALANCE SHEETS
	     AS OF JUNE 30, 2004 AND DECEMBER 31, 2003

<TABLE>
<CAPTION>

<S>                                             <C>         <C>         <C>

						    As of      As of
                                                   6/30/04   12/31/03
CURRENT ASSETS:
Cash                                               $29,382    $50,876
Accounts receivable                                  2,192     17,753
Prepaid expenses                                         -      3,775
						---------- ----------
TOTAL CURRENT ASSETS                                31,574     72,404

Oil properties, net of accumulated depreciation
 (successful efforts methods of accounting)      1,553,797  1,598,360
						---------- ----------

TOTAL ASSETS                                    $1,585,371 $1,670,764
						========== ==========

CURRENT LIABILITIES:
Accounts payable                                   $16,516     $8,756
Related party accrued interest                       8,000      7,000
Line of credit                                      72,508     72,925
Related party payable                                    -    273,287
Accrued payroll liabilities                         12,918          -
Contingency payable                                 10,000     45,000
Related party current portion of long-term debt     70,000     70,000
						---------- ----------
TOTAL CURRENT LIABILITIES                          189,942    476,968

Related Party Long-Term Debt,
net of current portion                           1,238,556     50,000

STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value, 50,000,000
shares authorized; 3,007,879 and 5,157,742
issued and outstanding as of June 30, 2004
and December 31, 2003, respectively.                 3,008      5,158
Additional paid-in capital                         724,966  1,353,908
Subscribed Stock                                 (247,610)          -
Deficit                                          (323,490)  (215,270)
						---------- ----------
TOTAL STOCKHOLDERS' EQUITY                         156,873  1,143,796

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $1,585,371 $1,670,764
						========== ==========
</TABLE>


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


					5


				NUTEK OIL, INC.
			     STATEMENTS OF INCOME
	    FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2004 AND 2003
<TABLE>
<CAPTION>
<S>                              <C>          <C>          <C>          <C>          <C>

                                    3 months    3 months    6 months    6 months
                                      ending      ending      ending      ending
                                     6/30/04     6/30/03     6/30/04     6/30/03

OIL REVENUES                         $32,365     $46,201    $105,147	 $99,500

COST OF GOODS SOLD                     3,523       5,879      57,202       8,162
				     -------	 -------    --------	 -------
GROSS PROFIT                          28,842      40,322      47,945      91,338

EXPENSES:
Selling, general and
administrative			      40,551      21,410      99,248      40,782
Depreciation and amortization         24,504      24,342      48,952      47,768
				     -------	 -------    --------	 -------
TOTAL EXPENSES                        65,055      45,752     148,200      88,550

OPERATING LOSS                      (36,213)     (5,430)   (100,255)       2,788

OTHER INCOME (EXPENSE):
Interest income                           22         168       1,135         338
Interest expense                     (6,224)     (1,250)     (9,153)     (3,005)
Other expense                              -           -          50       (671)
				     -------	 -------    --------	 -------
TOTAL OTHER INCOME (EXPENSE)         (6,202)     (1,082)     (7,968)     (3,338)

NET LOSS BEFORE INCOME TAXES        (42,415)     (6,512)   (108,223)       (550)

Income Tax Expense                        -           -           -           -
				     -------	 -------    --------	 -------
NET LOSS                           $(42,415)    $(6,512)  $(108,223)      $(550)

Basic and diluted weighted average
number of shares outstanding       3,007,879   5,157,742   2,977,782   5,157,742

BASIC NET LOSS PER SHARE            $(0.014)    $(0.001)    $(0.036)    $(0.000)

DILUTED NET LOSS PER SHARE          $(0.014)    $(0.001)    $(0.036)    $(0.000)

</TABLE>

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



					6


			      NUTEK OIL, INC.
		          STATEMENTS OF CASH FLOWS
		FOR THE SIX MONTHS ENDED JUNE 30, 2004 AND 2003

<TABLE>
<CAPTION>
<S>                                              <C>        <C>       <C>
						For the 6 months ended
						   6/30/04  6/30/03

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                         $(42,415) $(6,512)
ADJUSTMENTS TO RECONCILE NET LOSS TO NET
CASH PROVIDED (USED) BY OPERATING ACTIVITIES:
Depreciation 		                            24,504   24,342
(Increase) decrease in accounts receivable           9,241   12,103
(Increase) decrease in deposits                          -    5,000
Increase in prepaid expenses                         3,775  (3,150)
(Decrease) in related party accrued interest         (833)        -
Increase (decrease) in related party payable             -      385
Increase (decrease) in payroll liabilities           9,679        -
(Decrease) in accrued arbitration award           (35,000)        -
Increase (decrease) in accounts payable              8,880  (6,661)
						  -------- --------
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES  (22,169)   25,507

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment                 (3,589) (16,521)
						  -------- --------
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES   (3,589) (16,521)


CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in related party notes payable             17,585  (4,303)
Increase in subscribed stock                        25,000        -
Increase in line of credit                          10,824        -
						  -------- --------
NET CASH PROVIDED BY FINANCING ACTIVITIES           53,409  (4,303)
						  ======== ========

NET INCREASE IN CASH                                27,651    4,683
BALANCE, BEGINNING                                   1,731    5,876
BALANCE, ENDING                                    $29,382  $10,559
						  ======== ========

INTEREST PAID                                       $6,224   $1,250
TAXES PAID                                          $   -    $    1

</TABLE>


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


					7


                                NUTEK OIL, INC.

                         NOTES TO FINANCIAL STATEMENTS


NOTE 1 - HISTORY AND ORGANIZATION OF THE COMPANY

Nutek  Oil,  Inc.  was incorporated on December 3, 1998.  The company is in the
oil producing business  in the United States of America.  The Company purchased
selected  equipment  and  assets  from  Clipper  Operating  Company  and  began
operations as a separate company during 2001.


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CASH AND CASH EQUIVALENTS
Cash and cash equivalents consist  of highly liquid investments with maturities
of three months or less when purchased.

USE OF ESTIMATES
The preparation of financial statements  in  conformity with generally accepted
accounting principles requires that management  make  estimates and assumptions
which affect the reported amounts of assets and liabilities  as  of the date of
the  financial  statements  and revenues and expenses for the period  reported.
Actual  results  may  differ  from  these  estimates.   The  estimates  include
amortization and depreciation of  capitalized  costs  of  oil wells and related
equipment.  Management emphasizes that amortization and depreciation  estimates
are  inherently  imprecise.  Actual results could materially differ from  these
estimates.

DIVIDEND POLICY
The Company has not yet adopted any policy regarding payment of dividends.

COMPREHENSIVE INCOME
Statements of Financial  Accounting  Standards No. 130, Reporting Comprehensive
Income (SFAS 130), requires that total  comprehensive income be reported in the
financial statements.  The Company does not  have  any  items  considered to be
other comprehensive income for the three months ended June 30, 2004.

					8

FIXED ASSETS
The Company follows the "successful efforts" method of accounting for its costs
of  acquisition, exploration and development of oil properties.   Fixed  assets
are stated  at  cost.   Expenditures  that  materially increase the life of the
assets  are  capitalized.  Ordinary maintenance  and  repairs  are  charged  to
expense as incurred.   When  assets are sold or otherwise disposed of, the cost
and the related accumulated depreciation  and amortization are removed from the
accounts and any resulting gain or loss is  recognized  at that time.  Although
generally  accepted  accounting  principles  (GAAP)  requires  amortization  of
drilling  equipment  based  on the units-of-production-method,  management  has
determined that since reserve  studies  are  not  performed on a regular basis,
that  it would be appropriate to amortize this equipment  over  a  twenty  year
period.   Depreciation  is  computed  primarily on the straight-line method for
financial statements purposes over the following estimated useful lives:

           Office equipment                5 years
           Drilling equipment             20 years
           Well maintenance and workover  20 years
           Equipment and machinery        20 years

All assets are booked at historical purchase  price  and  there  is no variance
between book value and the purchase price.

EARNINGS PER SHARE
Basic  earnings  per  share  are computed using the weighted average number  of
shares of common stock outstanding  for  the period end.  The net income (loss)
for  the  period  end  is  divided by the weighted  average  number  of  shares
outstanding for that period to arrive at earnings per share.

REVENUE RECOGNITION
Revenues from the sale of oil are recorded using the sales method.

CONCENTRATIONS OF CREDIT RISK
Credit risk represents the accounting  loss  that  would  be  recognized at the
reporting date if counter parties failed completely to perform  as  contracted.
Concentrations of credit risk (whether on or off balance sheet) that arise from
financial  instruments  exist  for groups of customers or counter parties  when
they have similar economic characteristics  that  would  cause their ability to
meet contractual obligations to be similarly affected by changes in economic or
other conditions described below.

					9

The Company operates in one segment, the oil and gas industry.   The  Company's
customers   are  located  within  the  United  States  of  America.   Financial
instruments that  subject the Company to credit risk consist principally of oil
and gas sales which  are  based  solely on a short-term purchase contracts from
Shell Trading (US) Company with related  accounts  receivable subject to credit
risk.

During  the  three  months  ended  June  30,  2004 Shell Trading  (US)  Company
accounted for 100% of the Company's oil revenues.

Management  does  not  believe  the loss of Shell Trading  (US)  Company  would
materially affect the ability to sell the oil.

INCOME TAXES
The Company experienced losses during  the  previous  fiscal tax year reported.
The Company will review its need for a provision for federal  income  tax after
each operating quarter.  The Company has adopted FASB No. 109, as discussed  in
Note 7.


NOTE 3 - OIL PROPERTIES

      Oil properties are made up of the following as of June 30, 2004:

           Drilling equipment       $   680,891
           Equipment and machinery    1,279,586
           Accumulated depreciation   (406,680)
				    -----------
                                    $ 1,553,797
				    ===========

NOTE 4 - LINE OF CREDIT

The  Company  has a line of credit agreement with a financial institution which
provides maximum  borrowing  of  $75,000.   Interest  on  outstanding  balances
accrues at prime plus 2% and is payable monthly.  The current interest rate  at
June 30, 2004 is 6%.  The line must be renewed each year.

NOTE 5 - RELATED PARTY TRANSACTIONS

The Company has a note payable to a shareholder, in the amount of $50,000 as of
June  30,  2004.   This  obligation  is due in 2006 and accrues interest at 10%
annually.  The accrued interest on this  loan  as  of June 30, 2004 was $6,333.
The amounts are considered short term due to the delinquency of payments on the
accrued interest.

					10

The Company has a note payable to a shareholder, in the amount of $20,000 as of
June  30,  2004.  This obligation is due in 2006 and accrues  interest  at  10%
annually.  The  accrued  interest  on this loan as of June 30, 2004 was $1,666.
The amounts are considered short term due to the delinquency of payments on the
accrued interest.

The Company has an outstanding note  payable  to shareholders, in the amount of
$50,000 as of June 30, 2004.  This payable accrues  interest  at  15%  annually
through January 2005.  As of June 30, 2004, there was no accrued interest due.

The Company was advanced monies from Datascension, Inc. (f/k/a Nutek Inc.)  and
has  additionally repurchased the balance of shares owned by Datascension, Inc.
(f/k/a Nutek Inc.).  The total amount owed to (f/k/a Nutek Inc.) as of June 30,
2004 is  $1,143,806.   The  terms  of this note shall be to receive payments as
funds become available, but no later  than  10 years from the date of the above
reference sale of shares.  Datascension will  not  have the ability to call the
note  due,  provided  there  has been some form of payment  received  during  a
continuous three month period.


NOTE 6 - STOCKHOLDERS' EQUITY

During the three months ended  June  30,  2004,  the  Company did not issue any
stock.


NOTE 7 - INCOME TAXES

Deferred  income  taxes result from timing differences in  the  recognition  of
expense for tax and  financial  statement  purposes.   Statements  of Financial
Accounting Standards No. 109 "Accounting for Income Taxes", (SFAS 109) requires
deferred  tax  liabilities or assets at the end of each period to be determined
using the tax rate  expected  to  be  in effect when taxes are actually paid or
recovered.  The sources of those timing  differences and the current tax effect
of each were as follows:

      Net operating loss carryforward   $ 32,962
      Depreciation and amortization      (10,587)
      Valuation allowance                (22,375)
					---------
                                        $      -

The components of the net deferred tax asset at June 30, 2004 under SFAS 109
are as follows:

      Net operating loss carryforward   $ 524,127
      Depreciation and amortization     (428,561)
      Valuation allowance                (95,566)
					---------
                                  	$      -

					11

Reconciliations between the actual tax expense and the amount computed by
applying the U.S. Federal Income Tax rate to income before taxes are as
follows:

                                                    Percent of
                                                    Pretax
                                        Amount      Income
      Expected                          $(22,375)    (34%)
      Change in valuation allowance       22,375      34%
      Actual expense                    $      -       0%

The net operating loss will begin to expire in 2021.


NOTE 8 - WARRANTS AND OPTIONS

The Company has adopted FASB No. 123 and will account for stock issued for
services and stock options under the fair value method.

The following table sets forth the options  granted  in  2004  to  each  of the
directors and executive officers:

     Option/SAR Grants in Last Fiscal Year (Individual Grants):

                      Number of    Percent of total
                     Securities      Options/SARs
                     Underlying       granted to        Exercise or
                    Options/SARS     employees in        base price  Expiration
  Name                 Granted        fiscal year        ($/Share)     date
 ----------         ------------   ----------------     ----------    -------
 Murray N. Conradie    150,000             20.7            $0.46       4/1/14
                       200,000             27.7            $0.50       4/1/14

 Jason F. Griffith     100,000             13.8            $0.46       4/1/14
                       100,000             13.8            $0.50       4/1/14

 David Cummings         50,000              6.9            $0.46       4/1/14
                        50,000              6.9            $0.50       4/1/14

 Charles Snipes         75,000             10.3     	   $0.46      4/21/14

There  were  no  options  granted  or  exercised by the directors and executive
officers during the 3 months ended June 30, 2004.

Compensation  cost  for  options  granted  has   not  been  recognized  in  the
accompanying  financial  statements because the exercise  prices  exceeded  the
current market prices of the  Company's common stock on the dates of grant. The
options and warrants expire in  April  2014  and are exercisable at prices from
$0.46 to $0.50 per option or warrant.

					12

The following is a schedule of the activity relating  to  the  Company's  stock
options and warrants.

                               Year Ended       During 6 Months Ended
                            December 31, 2003       June 30, 2004
                             --------------        --------------
                            Weighted Avg.         Weighted Avg.
                          Shares   Exercise     Shares    Exercise
                        (x 1,000)    Price     (x1,000)    Price
                        ---------  ---------   --------  -----------
Options and warrants
  outstanding at
  beginning of year         -         $   -        -        $   -

Granted:
  Options                   -         $   -      725        $ 0.48
  Warrants                  -         $   -        -        $   -

Exercised                   -         $   -        -        $   -

Expired:
  Warrants                ( - )       $   -        -        $   -
                          ----        -----     ----         ----
Options and warrants
  outstanding and
  exercisable at end
  of period                 -         $   -      725        $   -
                                      =====                 =====

Weighted average fair
  value of options and
  warrants granted during
  the year                            $  -		    $  -

The   following  table   summarizes information  about  the  Company's
stock options and warrants  outstanding at June 30, 2004, all of which
are exercisable.

                 Weighted Average
   Range of         Number           Remaining       Weighted Average
Exercise Prices   Outstanding     Contractual Life    Exercise Price
  $   -               -                0 years           $   -


NOTE 9 - ENVIRONMENTAL MATTERS

Various federal and state  authorities have  authority to regulate the
exploration and  developments  of oil and  gas and mineral  properties
with  respect  to  environmental matters.  Such  laws and regulations,
presently in effect  or as hereafter  promulgated,  may  significantly
affect the cost of its current oil production and  any exploration and
development activities undertaken by  the Company  and could result in
loss or liability to the Company in the event that any such operations
are subsequently deemed  inadequate for  purposes  of  any such law or
regulation.


					13

Item 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS

The following is a discussion of certain factors affecting Registrant's results
of operations, liquidity and  capital  resources. You should read the following
discussion  and  analysis  in conjunction with  the  Registrant's  consolidated
financial statements and related  notes  that  are included herein under Item 1
above.

1) Plan of Operation

Nutek Oil, Inc., was formed for the purpose of development and operation of oil
properties with proven reserves. The Company's strategy is to focus in domestic
areas  where  major  oil  producing  companies have reduced  their  exploration
efforts  to  move offshore and overseas  in  search  of  the  larger  reserves.
Considerable oil  reserves  in  proven  fields  remain to be exploited by well-
managed independent oil companies capable of extracting these reserves at lower
risk and lower cost than unproved prospects.  Nutek  Oil's  initial development
strategy has been to acquire such proven fields and increase production through
the  application  of  advanced technology and the exploration of  other  proven
formations in the same fields.

Nutek Oil's primary operational  strategy  includes  the  operation  of its own
projects, giving it substantial control over drilling and production costs. The
Company  has  associated  with  highly  experienced exploration and development
engineering and geology personnel that strive  to add production at lower costs
through  development  drilling,  work-overs,  behind  pipe  re-completions  and
secondary recovery operations.

The Company's website address is http://www.nutekoil.com.

(i) Short-term Objectives:

The Company plans to accomplish the following:

 - Further develop the current properties which  are  under  lease to allow for
increase of oil production to over 1,200 barrels per month, and
 - The creation of limited partnerships in which investors can contribute their
ownership  interest  in  leases,  in  exchange  for  Nutek Oil serving  as  the
operator, while also receiving a royalty interest in the project.


					14

(ii) Long-term Objectives:

 - Expand the focus of the company to develop its own  properties,  while  also
   serving  as  the operator on other projects and generating income from those
   duties, and
 - Pursue opportunities with in-field drilling to further capitalize on the oil
in place.

1)  During the Second  Quarter  ended June 30, 2004, the Company had a net loss
of $42,415 from operations against  revenues  of  $32,365  as compared to a net
loss from operations of $6,512 against revenues of $46,201 for  the same period
last  year.   The Company has increased its selling, general and administration
costs from $21,410  for  the  same  period  last year to $40,551 for the Second
Quarter this year.  Depreciation costs for the  Second  Quarter  this year were
$24,504 as compared to $24,342 for last year.

As of June 30, 2004, the Company has three million seven thousand eight hundred
seventy  nine  (3,007,879)  shares of its $0.001 par value common voting  stock
issued and outstanding which  are  held by approximately six hundred ninety six
(696) shareholders of record.  The Company  did  not  have  any Preferred Stock
outstanding as of June 30, 2004.

2) Results of Operations

For the Second Quarter, ended June 30, 2004, the Company has  generated $32,365
in revenues and generated a loss of $42,415 for the same period.  This compares
to revenues of $46,201 and a loss of $6,512 for the same period last year.  The
Company has increased its working capital position by $361,655  from a negative
$404,564 at December 31, 2003 to a negative $158,368 on June 30, 2004.  This is
mainly due from the reallocation of debt from short term payable to a long term
payable during 2004.

					15

The  majority of the Company's expenses for the quarter included initial  audit
fees and  filing  costs  associated with the Form 10SB filed on April 30, 2004,
along with other administrative and depreciation costs.

3) Liquidity and Capital Resources

Management is of the opinion  that sufficient working capital will be available
from internal operations and from outside sources during the next twelve months
thereby enabling Nutek Oil to meet  its  obligations  and  commitments  as they
become payable.

As an ongoing concern, if the Company needs to raise additional funds in  order
to  fund  expansion,  develop  new or enhanced services or products, respond to
competitive  pressures  or  acquire   complementary   products,  businesses  or
technologies,  any additional funds raised through the issuance  of  equity  or
convertible debt  securities,  the  percentage ownership of the stockholders of
the Company will be reduced, stockholders  may  experience  additional dilution
and such securities may have rights, preferences or privileges  senior to those
of  the  Company's  Common  Stock.    The  Company does not currently have  any
contractual restrictions on its ability to incur  debt  and,  accordingly,  the
Company  could  incur  significant  amounts  of  indebtedness  to  finance  its
operations.   Any  such  indebtedness  could  contain  covenants,  which  would
restrict the Company's operations.

The Company currently has three employees of which two (2) are Officers of  the
Company.   As  the  Company  continues  to  grow  and develop its resources and
properties it will need to add employees.

The Company's financial statements have been prepared  on  the  assumption  the
Company  will  continue  as  a going concern.  Management believes that current
operations will continue to provide sufficient revenues to meet operating costs
and expansion.

Earnings  Per  Share - The Company  adopted  the  provisions  of  Statement  of
Financial Accounting  Standards  ("SFAS")  No.  128,  "Earnings Per Share" that
established  standards  for  the computation, presentation  and  disclosure  of
earnings per share ("EPS"), replacing  the  presentation  of Primary EPS with a
presentation of Basic EPS. It also requires dual presentation  of Basic EPS and
Diluted  EPS  on  the  face  of the income statement for entities with  complex
capital structures.

                                        16




Item 3. Controls and Procedures

Within 90 days prior to the date  of  this  quarterly report on Form 10-QSB for
the second quarter ended June 30, 2004, the Company  carried out an evaluation,
under the supervision and with the participation of the  Company's  management,
including the Company's Chief Executive Officer and Chief Financial Officer, of
the  effectiveness  of  the  design  and  operation of the Company's disclosure
controls and procedures pursuant to Rule 13a-14  of the Securities Exchange Act
of  1934. Based upon that evaluation, these principal  executive  officers  and
principal  financial  officer  concluded that the Company's disclosure controls
and procedures are effective in  timely  alerting  them to material information
relating to the Company, including its consolidated  subsidiaries,  required to
be  included  in  the  Company's  periodic  SEC  filings.   There have been  no
significant  changes  in  internal  controls  or in other  factors  that  could
significantly affect internal controls subsequent  to  the  date  of  our  most
recent evaluation.


                           PART II OTHER INFORMATION

ITEM 1.  Legal Proceedings

The Company is from time to time involved in litigation incident to the conduct
of  its business.  Certain litigation with third parties and present and former
employees  of the Company is routine and incidental, such litigation can result
in large monetary awards for compensatory or punitive damages.

The Company  is  not currently involved in any litigation.  To the knowledge of
management,  no federal,  state  or  local  governmental  agency  is  presently
contemplating any proceeding against the Company.



ITEM 2.  Changes in Securities and Use of Proceeds

None.

ITEM 3.  Defaults upon Senior Securities

None.

ITEM 4.  Submission of Matters to a Vote of Security Holders

None

ITEM 5.  Other Information

None

ITEM 6.  Exhibits and Reports on Form 8-K

                               EXHIBIT INDEX

(a.)     Exhibit                                                        Page
                                                                        ----

3.1 Articles of Incorporation                                             (1)

3.2 Bylaws                                                                (1)

10.1 Letter of Intent to Purchase Selected Assets from Clipper            (1)
          Operating Company

10.2 Purchase Agreement of Selected Assets from Nutek Inc.                (1)

31.1   Section 302 Certification of the Chief Executive Officer          (2)
and Chief Financial Officer

32.1   Certification of Chief Executive Officer and Chief Financial      (2)
Officer Pursuant to 18 U.S.C. ss. 1350, as Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002

------------

     (1) This exhibit was previously filed as an exhibit to the Registrant's
Form 10SB filed April 30, 2003 and is herein incorporated by reference.

     (2) Filed as an exhibit to this document.


(b.) Reports on Form 8-K.

     None.


                                         17

                                     SIGNATURES

Pursuant to the  requirements  of  Section 12 of the Securities Exchange Act of
1934, the registrant has duly caused  this report to be signed on its behalf by
the undersigned, thereunto duly authorized,  in the City of Las Vegas, State of
Nevada, on August 16, 2004.

                                              Nutek Oil, Inc.
                                             ------------------
                                             (Registrant)
/s/ Murray N. Conradie
-----------------------------------
Murray N. Conradie, President and Chairman of the Board
Date: August 16, 2004


/s/ Jason F. Griffith, CPA
-----------------------------------
Jason F. Griffith, CFO and Corporate Secretary
Date:  August 16, 2004






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