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 September 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


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

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



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......................   18

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





CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This Statement contains forward-looking statements. Words such as "anticipate",
"believe",  "expect", "future", "may", "will", "should",  "plan",  "will likely
result",   "intend",    "are    expected    to",    "will   continue",   "   is
anticipated",  "estimate",  "project  or  projected",  and  similar expressions
identify forward-looking statements. Accordingly, such statements are qualified
in  their  entirety  by  reference  to  and  are  accompanied by the  following
discussion  of certain important factors that could  cause  actual  results  to
differ materially  from  such  forward-looking statements. These statements are
based  on  the Company's beliefs and  the  assurances  made  using  information
currently available  to  the  Company.  Because  these  statements  reflect its
current  views  concerning  future  events,  these  statements  involve  risks,
uncertainties and assumptions. Actual results could differ  materially from the
results discussed in the forward-looking statements. Some, but  not all, of the
factors that may cause these differences include those discussed  in  the  risk
factors.  A  reader  should  not  place undue reliance on these forward-looking
statements. A reader should also remember  that  these statements are made only
as  of the date of this report and future events may  cause  them  to  be  less
likely to prove to be true.


                     PART I. FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS AND EXHIBITS

The unaudited  financial  statements  of  registrant  for the nine months ended
September 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 September 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


<PAGE>

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

<TABLE>
<CAPTION>

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

                                                    As of      As of
                                                   9/30/04   12/31/03
CURRENT ASSETS:
Cash                                               $11,065    $50,876
Accounts receivable                                 11,313     17,753
Prepaid expenses                                     3,650      3,775
                                                ---------- ----------
TOTAL CURRENT ASSETS                                26,028     72,404

Oil properties, net of accumulated depreciation
 (successful efforts methods of accounting)      1,557,390  1,598,360
                                                ---------- ----------

TOTAL ASSETS                                    $1,583,418 $1,670,764
                                                ========== ==========

CURRENT LIABILITIES:
Accounts payable                                   $13,328     $8,756
Related party accrued interest                       8,583      7,000
Line of credit                                      95,347     72,925
Related party payable                                    -    273,287
Accrued payroll liabilities                         22,607          -
Contingency payable                                      -     45,000
Related party current portion of long-term debt     70,000     70,000
                                                ---------- ----------
TOTAL CURRENT LIABILITIES                          209,865    476,968

Related Party Long-Term Debt,
net of current portion                           1,197,798     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 September 30, 2004
and December 31, 2003, respectively.                 3,008      5,158
Additional paid-in capital                         724,966  1,353,908
Subscribed Stock                                 (210,110)          -
Accumulated Deficit                              (342,108)  (215,270)
                                                ---------- ----------
TOTAL STOCKHOLDERS' EQUITY                         175,755  1,143,796

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY      $1,583,418 $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 NINE MONTHS ENDED SEPTEMBER 30, 2004 AND 2003
<TABLE>
<CAPTION>
<S>                              <C>          <C>          <C>          <C>
<C>

                               3 months    3 months    9 months  9 months
                                ending      ending      ending    ending
                               9/30/04     9/30/03     9/30/04    9/30/03

OIL REVENUES                   $56,559     $41,775    $161,706   $141,275

COST OF GOODS SOLD               7,198       4,172      64,400     12,334
                               -------    -------    --------     -------
GROSS PROFIT                    49,361      37,603      97,306    128,941

EXPENSES:
Selling, general and
administrative                  39,036      24,824     138,284     65,606
Depreciation and amortization   24,683      24,157      73,635     71,925
                               -------    -------    --------     -------
TOTAL EXPENSES                  63,719      48,981     211,919    137,531

OPERATING LOSS                 (14,358)    (11,378)   (114,613)    (8,590)

OTHER INCOME (EXPENSE):
Interest income                     -          82       1,135        420
Forgiveness of debt                 -          93           -         93
Interest expense               (4,260)     (1,450)    (13,413)    (4,455)
Other expense                       -           -          50       (671)
                               -------    -------    --------     -------
TOTAL OTHER INCOME (EXPENSE)   (4,260)     (1,275)    (12,228)    (4,613)

NET LOSS BEFORE INCOME TAXES  (18,618)    (12,653)   (126,841)   (13,203)

Income Tax Expense                  -           -           -          -
                               -------    -------    --------     -------
NET LOSS                     $(18,618)   $(12,653)  $(126,841)  $(13,203)

Basic and diluted weighted average
number of shares outstanding  3,007,879   5,157,742   2,987,925  5,157,742

BASIC NET LOSS PER SHARE      $(0.006)    $(0.002)    $(0.042)   $(0.003)

DILUTED NET LOSS PER SHARE    $(0.006)    $(0.002)    $(0.042)   $(0.003)

</TABLE>

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


				6

<PAGE>

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

<TABLE>
<CAPTION>
<S>                                              <C>        <C>       <C>
                                               For the 9 months ended
                                                  9/30/04  9/30/03

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss                                        $(126,841) $(13,203)
ADJUSTMENTS TO RECONCILE NET LOSS TO NET
CASH PROVIDED (USED) BY OPERATING ACTIVITIES:
Services received for stock                         15,073       -
Retirement of common stock                        (651,163)      -
Depreciation                                        73,635   71,925
(Increase) decrease in accounts receivable           6,440   (2,481)
(Increase) decrease in deposits                          -    3,050
Increase in prepaid expenses                           125   (4,810)
(Decrease) in related party accrued interest         1,583        -
Increase (decrease) in related party payable             -  (50,249)
Increase (decrease) in payroll liabilities          22,607        -
(Decrease) in accrued arbitration award           (45,000)        -
Increase (decrease) in accounts payable              4,572  (26,630)
                                                  -------- --------
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES (698,969)  (22,398)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment                (32,665)  (49,713)
                                                  -------- --------
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES  (32,665)  (49,713)

CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in related party notes payable            874,511   42,222
Increase in subscribed stock                      (210,110)       -
Increase in line of credit                          22,422    (475)
Issuance of common stock                            5,000   28,200
                                                  -------- --------
NET CASH PROVIDED BY FINANCING ACTIVITIES          691,823   69,947
                                                  ======== ========

NET INCREASE IN CASH                              (39,811)   (2,164)
BALANCE, BEGINNING                                  50,876    4,630
BALANCE, ENDING                                   $ 11,065  $ 2,466
                                                  ======== ========

INTEREST PAID                                     $ 13,413  $ 4,455
TAXES PAID                                        $    -    $     1

</TABLE>


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


				7
<PAGE>

                         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 September 30, 2004.

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:

                                    8

<PAGE>
                                NUTEK OIL, INC.

                         NOTES TO FINANCIAL STATEMENTS


NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

FIXED ASSETS (CONTINUED)

           Office equipment             5 years
           Drilling equipment           20 years
           Well maintenance and workover20 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.

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 September 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.

                                   9

<PAGE>
                                NUTEK OIL, INC.

                         NOTES TO FINANCIAL STATEMENTS


NOTE 3 - OIL PROPERTIES

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

           Leasehold Improvements      $    700,245
           Equipment and machinery        1,288,509
           Accumulated depreciation        (431,364)
					-----------
                                       $  1,557,390

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
September 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
September 30, 2004.  This obligation is due in 2006 and accrues interest at 10%
annually.   The  accrued  interest  on this loan as of September 30,  2004  was
$6,833.   The amounts are considered short  term  due  to  the  delinquency  of
payments on the accrued interest.

The Company has a note payable to a shareholder, in the amount of $20,000 as of
September 30, 2004.  This obligation is due in 2006 and accrues interest at 10%
annually.   The  accrued  interest  on  this  loan as of September 30, 2004 was
$1,750.  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  September 30, 2004.  This  payable  accrues  interest  at  15%
annually through January  2005.  As of September 30, 2004, there was no accrued
interest due.

The Company has an outstanding  note  payable to Murray Conradie, the Company's
CEO, in the amount of $3,717.  This payable  accrues interest at 1% monthly due
on the first day of each month.

The Company has an outstanding note payable to  Jason  Griffith,  the Company's
CFO, in the amount of $23,179.  This payable accrues interest at 1% monthly due
on the first day of each month.

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
September 30, 2004 is $1,120,902.  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.


				10


                                NUTEK OIL, INC.

                         NOTES TO FINANCIAL STATEMENTS

NOTE 6 - STOCKHOLDERS' EQUITY

During the three months ended September 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 September 30, 2004 under SFAS
109 are as follows:

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

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.

				11

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 September 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 9 Months Ended
                            December 31, 2003    September 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 September 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.


NOTE 10 - SUBSEQUENT EVENTS

On November 3, 2004,  the  Company  filed  Form  8-K  announcing the removal of
Charles  Snipes  as Board Member of the Company.  Shareholders  representing  a
majority ownership  in  the  company  consented  and  approved this action.  On
November 2, 2004, there was a special meeting of the majority  of  the Board of
Directors in which the Board approved the appointment of Conrad Humbke as Board
Member  of the Company. Shareholders representing a majority ownership  in  the
company consented  and  approved this action.  Pursuant to information required
by Item  404(a) of Regulation   S-B,  as  applicable (17 CFR 228.404(a)), there
are  no transactions during the last two years,  or  proposed  transactions  to
which  Nutek  Oil, Inc was or is the party, in which Conrad Humbke has or is to
have a direct or indirect material interest.



				    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
Thirdary 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 Third Quarter ended September 30,  2004,  the  Company had a net
loss of $18,618 from operations against revenues of $56,559 as  compared  to  a
net  loss  from  operations of $12,653 against revenues of $41,775 for the same
period  last  year.   The  Company  has  increased  its  selling,  general  and
administration  costs from $24,824 for the same period last year to $39,036 for
the Third Quarter  this  year.   Depreciation  costs for the Third Quarter this
year were $24,683 as compared to $24,157 for last year.

As of September 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 September 30, 2004.

2) Results of Operations

For the Third Quarter,  ended  September  30,  2004,  the Company has generated
$56,559 in revenues and generated a loss of $18,618 for  the same period.  This
compares to revenues of $41,775 and a loss of $12,653 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 $183,837  on  September
30,  2004.   This  is  mainly due from the reallocation of debt from short term
payable to a long term payable during 2004.

The majority of the Company's  expenses for the quarter included payroll, 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.

				15


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 its working
interest revenues from the existing  wells  will  meet  its minimum general and
administrative  cost requirements and provide the basic liquidity  the  Company
needs to operate  at current levels over the next twelve months. Currently, the
company has a monthly  cost requirement of approximately $9,500 for operations.
However, should the working  interest  revenue  not be sufficient to cover such
expenses, additional funding may be required to execute  its  business  plan of
acquiring  additional  leases  and reserves, and performing drilling and rework
activities planned for its existing properties.

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.

4) Subsequent Events

On November  3,  2004,  the  Company  filed  Form 8-K announcing the removal of
Charles  Snipes as Board Member of the Company.   Shareholders  representing  a
majority ownership  in  the  company  consented  and  approved this action.  On
November 2, 2004, there was a special meeting of the majority  of  the Board of
Directors in which the Board approved the appointment of Conrad Humbke as Board
Member  of the Company. Shareholders representing a majority ownership  in  the
company consented  and  approved this action.  Pursuant to information required
by Item  404(a) of Regulation   S-B,  as  applicable (17 CFR 228.404(a)), there
are  no transactions during the last two years,  or  proposed  transactions  to
which  Nutek  Oil, Inc was or is the party, in which Conrad Humbke has or is to
have a direct or indirect material interest.

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Item 3. Controls and Procedures

Within 90 days  prior to the date of  this quarterly  report on Form 10-QSB for
the Third quarter  ended  September  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

				  17

ITEM 6.  Exhibits and Reports on Form 8-K


                               EXHIBIT INDEX

(a.)     Exhibit

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.


                                     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 November 15, 2004.

                                              Nutek Oil, Inc.
                                             ------------------
                                             (Registrant)
/s/ Murray N. Conradie
-----------------------------------
Murray N. Conradie, President and Chairman of the Board
Date: November 15, 2004


/s/ Jason F. Griffith, CPA
-----------------------------------
Jason F. Griffith, CFO and Corporate Secretary
Date:  November 15, 2004


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