SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                                   FORM 10-QSB

     [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

          For the Quarter ended August 31, 2004

     [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
          EXCHANGE ACT OF 1934

          For the transition period from  _________   to  ________


                         Commission file number: 0-50472

                            NEW FRONTIER ENERGY, INC.
        -----------------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)


            Colorado                                    84-1530098
-------------------------------             ----------------------------------
(State or other jurisdiction of            (I.R.S. Employer Identification No.)
 incorporation or organization)

                  5632 S. Spotswood Street, Littleton, CO 80120
                  ---------------------------------------------
                    (Address of principal executive offices)

                                 (303) 730-9994
                           ---------------------------
                           (Issuer's telephone number)


                                      N/A
               --------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)


Check whether the registrant (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
for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
Yes [X]  No [ ]

As of October 14, 2004, 3,194,451 shares of common stock were outstanding.

Transitional Small Business Disclosure Format:  Yes [ ]   No [X]




<PAGE>




                            NEW FRONTIER ENERGY, INC.


                                      Index

                                                                            Page
                                                                            ----

Part I - FINANCIAL INFORMATION

Item 1.     Consolidated Balance Sheet (unaudited) at August 31, 2004         1

            Consolidated Statements of Operations (unaudited)
            for the three months ended August 31, 2004 and 2003               2

            Consolidated Statements of Operations (unaudited)
            for the six months ended August 31, 2004 and 2003                 3

            Consolidated Condensed Statements of Cash Flows
            (unaudited) for the six months ended
            August 31, 2004 and 2003                                          4

            Notes to Consolidated Financial Statements (unaudited)            5

Item 2.     Management's Discussion and Analysis                              8

Item 3.     Controls and Procedures                                          14

Part II - OTHER INFORMATION

Item 1.     Legal Proceedings                                                14

Item 2.     Changes in Securities                                            14

Item 3.     Defaults Upon Senior Securities                                  14

Item 4.     Submission of Matters of a Vote of Security Holders              14

Item 5.     Other Information                                                15

Item 6.     Exhibits and Reports on Form 8-K                                 15

SIGNATURES                                                                   15






<PAGE>


<TABLE>
<CAPTION>
                            NEW FRONTIER ENERGY, INC.
                           CONSOLIDATED BALANCE SHEET
                                 AUGUST 31, 2004
                                   (UNAUDITED)



                                     ASSETS
<S>                                                                    <C>
CURRENT ASSETS
      Cash                                                             $   201,196
      Accounts receivable, trade                                               505
      Production payment receivable, net                                    32,898
      Prepaid expenses                                                       7,241
                                                                       -----------
            Total current assets                                           241,840
                                                                       -----------

PROPERTY AND EQUIPMENT NET OF ACCUMULATED DEPRECIATION
  AND DEPLETION OF $93,164                                               2,843,864

OTHER ASSETS                                                                   508
                                                                       -----------

                                                                       $ 3,086,212
                                                                       ===========

      LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
      Accounts payable                                                 $   162,923
      Dividends payable                                                      5,178
      Accrued expenses                                                     101,282
      Note payable                                                         568,527
                                                                       -----------
            Total current liabilities                                      837,910
                                                                       -----------


STOCKHOLDERS' EQUITY
      Preferred stock, $.001 par value, 25,000,000 shares authorized:
         Series A Convertible, 100,000 shares authorized
         50,000 shares  issued and outstanding                                  50
      Common stock, $.001 par value, 50,000,000 shares authorized,
           3,194,451 shares issued and outstanding                           3,194
      Additional paid in capital                                         4,438,192
      Accumulated (deficit)                                             (2,193,134)
                                                                       -----------
                                                                         2,248,302
                                                                       -----------

                                                                       $ 3,086,212
                                                                       ===========
</TABLE>



   See accompanying notes to the unaudited consolidated financial statements.


                                        1



<PAGE>


                            NEW FRONTIER ENERGY, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)


                                                         Three Months Ended
                                                      August 31,     August 31,
                                                         2004          2003
                                                      -----------   -----------
Operating revenues
       Oil and gas sales                              $     7,033   $     6,258
                                                      -----------   -----------

Operating expenses
       Exploration costs                                   12,560         1,480
       Lease operating expenses                             5,071         9,639
       General and administrative                         111,143       124,485
       Depreciation, depletion and amortization             5,742        10,275
                                                      -----------   -----------
            Total operating expenses                      134,516       145,879
                                                      -----------   -----------

(Loss) from operations                                   (127,483)     (139,621)
                                                      -----------   -----------

Other income (expense)
       Gain (loss) on sale of assets                           --       (15,295)
       Interest income                                      1,448            --
       Interest expense                                    (5,117)       (5,620)
                                                      -----------   -----------
            Total other income (expense)                   (3,669)      (20,915)
                                                      -----------   -----------

(Loss) before income taxes                               (131,152)     (160,536)

Income taxes
       Current                                                 --            --
       Deferred                                                --            --
                                                      -----------   -----------
                                                               --            --
                                                      -----------   -----------

Net (loss)                                            $  (131,152)  $  (160,536)

Preferred stock dividends                                 (12,698)           --
                                                      -----------   -----------

Net (loss) attributable to common shareholders        $  (143,850)  $  (160,536)
                                                      ===========   ===========

Net (loss) per common share
       Basic and diluted                              $     (0.04)  $     (0.05)
                                                      ===========   ===========

Weighted average shares outstanding
       Basic and diluted                                3,194,451     3,194,451
                                                      ===========   ===========




   See accompanying notes to the unaudited consolidated financial statements.

                                        2



<PAGE>


                            NEW FRONTIER ENERGY, INC.
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)


                                                           Six Months Ended
                                                       August 31,    August 31,
                                                          2004         2003
                                                      -----------   -----------
Operating revenues
       Oil and gas sales                              $    10,355   $    11,780
                                                      -----------   -----------

Operating expenses
       Exploration costs                                   29,488         9,060
       Lease operating expenses                             5,284        12,233
       General and administrative                         233,149       199,449
       Depreciation, depletion and amortization             8,496        30,937
                                                      -----------   -----------
            Total operating expenses                      276,417       251,679
                                                      -----------   -----------

(Loss) from operations                                   (266,062)     (239,899)
                                                      -----------   -----------

Other income (expense)
       Gain (loss) on sale of assets                           --       (15,295)
       Interest income                                      2,978            --
       Interest expense                                    (9,257)      (13,427)
                                                      -----------   -----------
            Total other income (expense)                   (6,279)      (28,722)
                                                      -----------   -----------

(Loss) before income taxes                               (272,341)     (268,621)

Income taxes
       Current                                                 --            --
       Deferred                                                --            --
                                                      -----------   -----------
                                                               --            --
                                                      -----------   -----------

Net (loss)                                            $  (272,341)  $  (268,621)

Preferred stock dividends                                 (20,712)           --
                                                      -----------   -----------

Net (loss) attributable to common shareholders        $  (293,053)  $  (268,621)
                                                      ===========   ===========

Net (loss) per common share
       Basic and diluted                              $     (0.09)  $     (0.08)
                                                      ===========   ===========

Weighted average shares outstanding
       Basic and diluted                                3,194,451     3,194,451
                                                      ===========   ===========





   See accompanying notes to the unaudited consolidated financial statements.

                                        3



<PAGE>
<TABLE>
<CAPTION>

                            NEW FRONTIER ENERGY, INC.
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)


                                                                 Six Months Ended
                                                               August 31,  August 31,
                                                                  2004       2003
                                                               ---------   ---------
<S>                                                            <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
     Net cash (used in) operating activities                   $(126,815)  $(324,902)
                                                               ---------   ---------

CASH FLOWS FROM INVESTING ACTIVITIES:

     Proceeds from sale of property and equipment                     --     375,000
     Advances to officers                                             --     (19,500)
     Disposition of property, net                                     --      37,008
     Purchase of property and equipment                         (174,589)    (36,439)
                                                               ---------   ---------

       Net cash provided by (used in) by investing activities   (174,589)    356,069
                                                               ---------   ---------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Payment of notes payable                                    (33,550)   (112,382)
     Proceeds from notes payable                                 250,000          --
     Issuance of preferred stock for cash                        250,000          --
     Preferred stock dividends paid                              (15,534)         --
     Repayment of employee advances                               10,000          --
     Operating advances from former parent                            --     117,371
                                                               ---------   ---------

       Net cash provided by financing activities                 460,916       4,989
                                                               ---------   ---------

INCREASE (DECREASE) IN CASH                                      159,512      36,156

BEGINNING BALANCE                                                 41,684          88
                                                               ---------   ---------

ENDING BALANCE                                                 $ 201,196   $  36,244
                                                               =========   =========

Cash paid for interest                                         $  11,468   $  10,642
                                                               ---------   ---------

Supplemental schedule of non-cash investing and
    financing activities:
       Contribution to capital by parent                       $      --   $ 115,766
                                                               =========   =========

</TABLE>




   See accompanying notes to the unaudited consolidated financial statements.

                                        4


<PAGE>



                            NEW FRONTIER ENERGY, INC.
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                                 August 31, 2004

1.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
     ------------------------------------------

     Organization and Nature of Business

          New Frontier Energy, Inc. ("New Frontier") or the "Company" was
          incorporated January 7, 2000 under the laws of Colorado. The Company
          engages principally in the exploration, development and production of
          oil and gas, which is mainly in Wyoming and Colorado. Effective June
          20, 2001 the Company acquired 100% of Skyline Resources, Inc.
          ("Skyline").

          Effective February 6, 2002, Wyoming Oil & Minerals, Inc. ("Wyoming")
          completed a share exchange with the Company. Under the terms of the
          share exchange, the shareholders of the Company surrendered their
          shares in exchange for shares of Wyoming, and the Company became a
          wholly owned subsidiary of Wyoming.

          On June 30, 2003, Wyoming's Board of Directors approved a dividend in
          the form of the common stock of its subsidiary, New Frontier. The
          dividend was paid in the form of one share of New Frontier's $0.001
          par value common stock (the "Common Stock") for every four shares of
          common stock of Wyoming. New Frontier filed a Form SB-2 registration
          statement to register its Common Stock issued as a dividend and the
          Securities and Exchange Commission declared the registration statement
          effective on April 13, 2004. Shareholders of record of Wyoming as of
          the close of business on June 30, 2003, the record date, were issued a
          certificate representing the shares in New Frontier.

          Prior to June 30, 2003, the Company was a wholly owned subsidiary of
          Wyoming. The financial statements presented for the six and three
          months periods ended August 31, 2003 include only the accounts of New
          Frontier and its subsidiary, Skyline.

       Principles of Consolidation
       ---------------------------

          The consolidated financial statements include the accounts of the
          Company and its wholly owned subsidiary. All significant inter-company
          accounts and transactions have been eliminated in consolidation.

       Unaudited Statements
       --------------------

          The financial statements have been prepared by the Company without
          audit pursuant to the rules and regulations of the Securities and
          Exchange Commission. Certain information and footnote disclosures
          normally included in the financial statements prepared in accordance
          with accounting principles generally accepted in the United States
          have been condensed or omitted as allowed by such rules and
          regulations, and management believes that the disclosures are adequate
          to make the information presented not misleading. These financials
          statements include all of the adjustments, which, in the opinion of
          management, are necessary to a fair presentation of financial position
          and results of operations. All such adjustments are of a normal and
          recurring nature only. The results of operations for the interim
          periods are not necessarily indicative of the results to be expected
          for the full fiscal year. These financial statements should be read in
          conjunction with the audited financial statements at February 29, 2004
          included in the Company's annual report on Form 10-KSB filed with
          Securities and Exchange Commission on June 16, 2004.


                                       5
<PAGE>


       Reclassifications
       -----------------

          Certain amounts reported in the Company's financial statements for the
          six months ended August 31, 2003 have been reclassified to conform to
          the current period presentation.


2.   NOTES PAYABLE
     -------------

     On August 30, 2004, the Company entered into a loan with a shareholder
     pursuant to which the Company borrowed $250,000 (the "Loan"). The Loan is
     evidenced by a promissory note (the "Note") dated August 30, 2004 issued by
     the Company to the shareholder Interest on the principal amount of the Note
     accrues at a rate of 18% per annum and is payable monthly commencing on
     October 1, 2004. The principal amount of the Note and any accrued and
     unpaid interest is due and payable upon the earlier of (i) receipt of
     $2,000,000 in equity financing or (ii) August 31, 2005. The Company may
     prepay the Note in whole or in part at any time without penalty.

     In connection with the Loan, the Company agreed to amend certain terms of
     its Series A Convertible Preferred Stock (the "Series A Preferred Stock")
     previously issued to the shareholder. The changes consist of an increase in
     the number of stock purchase warrants to purchase the Company's shares of
     Common Stock from 6,250 shares to 75,000 shares. The specific terms
     relative to the exercise price and term of the warrant have not yet been
     determined. In the event the Company does not redeem the Preferred Stock,
     The shareholder has the right to convert said Preferred Stock to Common
     Stock in a manner identical to the terms and conditions being offered in a
     contemplated equity financing arrangement.

     The Company agreed to collateralize the Loan by causing the Company's
     wholly owned subsidiary, Skyline Resources, Inc. to grant a security
     interest in its interest in the Albert and Evelyn Robidoux Oil and Gas
     Mineral Lease located in Moffat County, Colorado. As additional
     consideration for the Loan, the Company issued a stock purchase warrant to
     the shareholder for the right to purchase an aggregate of seventy five
     thousand (75,000) shares of its Common Stock. The specific terms of the
     warrant have not yet been defined and accordingly, the value of the warrant
     cannot be calculated in accordance with the Black Scholes pricing model.

     In July 2004, the Company negotiated a waiver of the payment of principal
     in connection with its bank note in the amount of $35,258 which was due
     June 15, 2004. The Company paid $5,600 in accrued interest to that date.
     The terms and conditions of the loan remain the same.

3.   STOCKHOLDERS' EQUITY
     --------------------


                                       6
<PAGE>

     Reverse Split
     -------------

     On March 3, 2004, the Board of Directors authorized a 1 to 4 reverse split
     of Common Stock to stockholders of record in order to facilitate the
     marketability and liquidity of the common stock based on the current market
     conditions and other relevant factors. All share and per share amounts have
     been retroactively restated.

     Series A Convertible Preferred Stock
     ------------------------------------

     On March 1, 2004, the Board of Directors authorized the designation of
     100,000 shares of the Series A Preferred Stock. The issue price of the
     Series A Preferred Stock is $5.00 per share ("Issue Price.") The holders of
     the Series A Preferred Stock are entitled to receive cash dividends at the
     annual rate equal to 18% of the $5.00 issue price per share or $.90 per
     share, payable monthly, in arrears. Dividends on each share of Preferred
     Stock begin to accrue and accumulate from the date of original issuance of
     such shares. The Series A Preferred Stock is non-voting and in the event of
     liquidation, dissolution or winding up of the Company is entitled to
     receive, out of the assets of the Company available for distribution to
     stockholders, an amount equal to the Issue Price plus accumulated and
     unpaid dividends before the distribution of assets is made to the holders
     of Common stock or of any other class of capital stock of the Company
     ranking junior to the Series A Preferred Stock as to liquidation.

     At any time on or after October 13, 2004, each holder of shares of Series A
     Preferred Stock may, at his or her option, convert any or all such shares
     (in minimum increments of 10,000 shares per exercise, if for less than all
     shares owned), into fully paid and non-assessable shares of Common Stock.
     Shares of Series A Preferred Stock are convertible in a manner identical to
     the terms and conditions that will be offered in a contemplated equity
     financing arrangement, if consummated. Because the terms and conditions in
     a future equity financing arrangement have yet to be established, the board
     of directors have not yet amended the Company's Articles of Incorporation
     to reflect the amended terms of the Series A Preferred Stock.

     The Company may, at its option, from time to time redeem the whole or any
     part of the Series A Preferred Stock, and the redemption price shall be
     equal to the Issue Price of the shares so redeemed, plus the amount of
     unpaid accumulated dividends, if any, to the date of such redemption.

     The Company has paid cash dividends in the amount of $15,534 and accrued
     $5,178 through the six months ended August 31, 2004. Accrued dividends were
     paid in September 2004.

4.   RELATED PARTY TRANSACTIONS
     --------------------------

     The Company paid $9,000 and $4,500 during the six months and three months
     ended August 31, 2004 respectively, in connection with an office lease for
     office space in Littleton, Colorado with Spotswood Properties, LLC,
     ("Spotswood"), a Colorado limited liability company and an affiliate of the
     president. The lease provides for the payment of $1,500 per month plus
     utilities and other incidentals. The president of New Frontier owns 50% of
     Spotswood.


                                       7
<PAGE>

     The Company paid a corporation controlled by one of the directors $6,000
     and $3,000 for geological consulting during the six months and three months
     ended August 31, 2004 respectively.

5.   GOING CONCERN
     -------------

     The accompanying financial statements have been prepared in conformity with
     accounting principles generally accepted in the United States of America,
     which contemplates continuation of the Company as a going concern. The
     Company has incurred losses since inception of $2,193,134, has a working
     capital deficit of $596,070, and is reliant on raising capital to
     consummate its business plan.

     The Company's ability to continue as a going concern is dependent upon its
     ability to secure financing and attain profitable operations. The Company
     is pursuing financing for its operations and working towards realizing
     sales from its oil and gas interests.

     The financial statements do not include any adjustments to reflect the
     possible future effects on the recoverability and classification of assets
     or the amounts and classification of liabilities that may result from the
     possible inability of the Company to continue as a going concern.

6.   SUBSEQUENT EVENTS
     -----------------

     Subsequent to August 31, 2004, the Company entered into an agreement with
     an unrelated party to sell the production payment receivable carried at
     $32,898 for $30,000 incurring a loss of $2,898. The Company also paid a
     retainer in the amount of $30,000 to an investment banking firm.


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

Forward Looking Information

     Information contained in the following discussion of results of operations
and financial condition and in certain of the notes to the financial statements
included in this document contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, which can be identified
by the use of words such as "may," "will," "expect," "anticipate," "estimate,"
or "continue," or variations thereon or comparable terminology. In addition, all
statements other than statements of historical facts that address activities,
events, or developments the Company expects, believes, or anticipates will or
may occur in the future, and other such matters, are forward-looking statements.
The following discussion should be read in conjunction with the Company's
unaudited financial statements and related notes included elsewhere herein.

     The Company's future operating results may be affected by various trends
and factors which are beyond the Company's control. The important factors that
could prevent us from achieving our stated goals and objectives include, but are
not limited to, those set forth in our Annual Report on Form 10-KSB and the
following:

     o    The extent and duration of the recent economic downturn;


                                       8
<PAGE>


     o    The willingness and ability of third parties to honor their
          contractual commitments;

     o    Our ability to raise additional capital, as it may be affected by
          current conditions in the stock market and competition in the oil and
          gas industry for risk capital;

     o    Environmental and other regulations, as the same presently exist and
          may hereafter be amended;

     o    Our ability to identify, finance and integrate other acquisitions;

     o    Volatility of our stock price; and

     o    Actions of overseas producers of oil and natural gas over which we
          have no control.

     We undertake no responsibility or obligation to update publicly these
forward-looking statements, but may do so in the future in written or oral
statements. Investors should take note of any future statements made by or on
our behalf.

     The Company cautions the reader that a number of important factors
discussed herein, and in other reports filed with the Securities and Exchange
Commission, including its 10-KSB for the year ended February 29, 2004, could
affect the Company's actual results and cause actual results to differ
materially from those discussed in forward-looking statements. This information
should be read in conjunction with our Annual Report on Form 10-KSB for the year
ended February 29, 2004.

Current Situation

     We currently own an interest in two oil and gas prospects, each of which
are undeveloped. The Slater Dome Prospect consists of 29,200 gross acres and is
located along the Colorado-Wyoming border, in Moffat County, Colorado and Carbon
County, Wyoming. Our plan of operation is to complete exploration and
development of the Slater Dome/Coal Bank Draw Prospect, commence production from
that property and evaluate opportunities to acquire interests in other oil and
gas properties.

     New Frontier Energy, together with the other working interest owners,
drilled one well approximately one mile from the existing wells during this
fiscal period costing approximately $62,500 to the Company's interest. The well
is completed and shut in awaiting further testing and the completion of the
gathering pipeline. The Company anticipates participation in drilling ten
additional coalbed methane wells in 2005, which are estimated to cost $900,000
to our interest, as well as implementing an extensive seismic survey and
exploration program over the approximate 29,200 gross acre leasehold at Slater
Dome. We believe that these additional wells are necessary to further develop
the prospect and fully exploit the estimated reserves. We are seeking additional
financing to further develop the prospect and participate in the gathering
pipeline to deliver those reserves to the market. If we are successful in that
endeavor, we believe the production will be more than sufficient to remedy the
deficit in working capital and provide additional resources for acquisition,
exploration and development of additional properties. If we are unsuccessful, we
may be forced to sell additional stock or our interest in the Slater Dome/Coal
Bank Draw Prospect to continue in operation.


                                       9
<PAGE>

     Currently there is no gathering pipeline available to transport the
Company's gas; however significant progress is being made to resolve that
problem. The company is working with an independent pipeline company to
construct the pipeline gathering system, which will allow the Company to move
into the production phase. The 20-mile gas gathering line will transport the
Company's natural gas from Slater Dome to a Questar transportation line in
Baggs, Wyoming. The pre-construction process of the line is well under way. The
acquisition of the right-of-way's is 90% completed. The gathering line route has
been staked and pipeline engineering, environmental permitting and additional
fieldwork is continuing. Subsequent to completion of the pre-construction
process, it is anticipated the physical construction of the line will be
completed in 60 days. New Frontier Energy is anticipating the sale of natural
gas in early 2005.

     The Company is evaluating the rescission of the payment of dividends
because the Company has been advised by its counsel that the Company's payment
of dividends during its inability to pay its debts as they become due in the
usual course of business may be in contravention of Colorado law, the Company's
state of incorporation.

Changes in Results of Operations: Three months ended August 31, 2004 compared to
three months ended August 31, 2003

     For the three months ended August 31, 2004, we reported a net loss of
$131,352, or $0.04 per share, on revenue of $7,033. This compares to a net loss
of $160,536, or $.05 per share, on revenue of $6,258, for the comparable period
of the previous fiscal year. We expect to incur losses until such time as we
begin producing gas from the Slater Dome Prospect.

     Exploration costs were $12,560 for the three months ended August 31, 2004
compared with $1,480 for the comparable period in 2003, an increase of $11,080,
or 748.65%. The primary source of the increase is attributable to an increase in
delay rentals. The delay rentals increased because a third party had an option
on the Nucla prospect and was paying the rentals in connection with the option
in 2003.

     Lease operating expenses were $5,071 for the three months ended August 31,
2004 compared with $9,639, a decrease of $4,568. The decrease is a result of a
change in the properties being operated; in 2004 the only properties with
expenses was Slater Dome while we had additional properties in Wyoming in the
comparable period in 2003.

     General and administrative expenses were $111,143 for the three months
ended August 31, 2004, compared to $124,485 for the three months of the prior
period, a decrease of $13,342, or 10.72%. The following summarizes the changes
in the various categories of general and administrative expenses:

                                                                   2004 Over
                                                                    (Under)
             Category                          2004       2003       2003
       ----------------------------------------------------------------------
       Salaries                            $  63,747  $  70,248   $  (6,501)
       Professional fees                      22,901     30,848      (7,946)
       Office Rent                             5,760      1,776       3,984
       Filing fees, shareholder relations      2,964      2,456         508
       Travel                                  6,938      2,234       4,704
       Telephone                               2,440      1,355       1,084
       Vehicle expenses                           --      2,844      (2,844)
       Benefits                                   --      2,308      (2,308)


                                       10
<PAGE>
       Other                                   6,393     10,416      (4,023)
                                           ---------  ---------   ---------
                                           $ 111,143  $ 124,485   $ (13,342)
                                           =========  =========   =========


Salaries decreased $6,501, principally because Company renegotiated certain of
the employee compensation packages to a lesser amount of compensation.
Professional fees decreased $7,946 because in 2003, the Company's subsidiary was
involved as a third party defendant in litigation that was dismissed later in
the fiscal year ended February 28, 2004. Filing fees and shareholder relations
increased $508 and a normal fluctuation. Travel increased by $4,704 because the
Company has been spending more time at the Slater Dome area compared with the
prior period. The increase in telephone expense of $1,084 is a result of
increased activity. Vehicle expense decreased $2,305 compared with last year
because the Company's autos were sold in the prior fiscal year. Benefits to
employees decreased by $2,308 because the Company does not provide health
insurance to its employees in 2004 while it did in the prior period. Other
expenses decreased by a net $4,023 over the comparable period in 2003.
Management believes that such fluctuations are considered normal in the ordinary
course of business.

     Depreciation, depletion and amortization was $5,742 in the three months
ended August 31, 2004 compared with $10,275, a decrease of $4,533, or 44.12%.
While the revenues from production have remained relatively constant, the
production quantities that comprise the basis for the depletion calculation have
decreased; accordingly, depletion, based on units of production has decreased.

     The Company incurred $15,295 in losses on the disposition of vehicles sold
to former officers in 2003; the Company as not disposed of any assets in 2004.

     Interest income was $1,448 in the three months ended August 31, 2004
compared with $0 in 2003. The increase arises from the accretion of the value of
the production payment receivable.

     Interest expense was $5,117 in the three months ended August 31, 2004
compared with $5,620 in 2003 or a decrease of $503. The decrease is considered
normal in the ordinary course of business.

     The Company charged dividends on the Series A Convertible Preferred Stock
in the amount of $12,698 to the loss attributable to common shares. The
Preferred Stock was issued in 2004 and not present in 2003.


Changes in Results of Operations: Six months ended August 31, 2004 compared to
six months ended August 31, 2003

     For the six months ended August 31, 2004, we reported a net loss of
$272,341, or $0.09 per share, on revenue of $10,355. This compares to a net loss
of $268,621, or $.08 per share for the comparable period of the previous fiscal
year. We expect to incur losses until such time as we begin producing gas from
the Slater Dome Prospect.

     Revenues for the six months ended August 31, 2004 were $10,355 compared
with $11,780 for the comparable period the in 2003, or a 12.10% decrease. Our
only producing properties are those in which we have an overriding royalty
interest and the change is considered normal in the ordinary course of business.




                                       11
<PAGE>

     Exploration costs were $29,488 for the six months ended August 31, 2004
compared with $9,060 for the comparable period in 2003, an increase of $20,428,
or 225.47%. The primary source of the increase is delay rentals in the amount of
$17,816, geologic consulting and other exploration expenditures in the amount of
$6,280 offset by a decrease in dry hole costs of $3,669. The delay rentals
increased because a third party had an option on the Nucla prospect and was
paying the rentals in connection with the option in 2003. The geologic expenses
increased because we are developing the Slater Dome prospect. Dry hole expenses
decreased because the Company did not participate in drilling any dry holes in
the period ended in 2004 compared to 2003.

     Lease operating costs, which were $5,284 in the first six months of 2004 as
compared to $12,233 for the comparable period in 2003, a decrease of $6,949, or
56.81%. Our net operating expenses decreased because we owned wells in Wyoming
in 2003, which were sold in the last fiscal year ended February 29, 2004. Those
wells generated operating expenses of $10,588 compared with the operating
expenses of wells at Slater Dome in the amount of $3,960 in the current period.

     General and administrative expenses were $233,149 for the first six months
of this fiscal period, compared to $199,499 for the first six months of the
prior period, an increase of $33,700, or 16.90%. The following summarizes the
major components of the change in tabular form:

                                                                2004 Over
                                                                 (Under)
                   Category                   2004      2003      2003
       -----------------------------------------------------------------
       Salaries                            $127,494  $106,498  $ 20,996
       Professional fees                     57,167    54,001     3,166
       Office Rent                           11,520     3,255     8,265
       Filing fees, shareholder relations     7,206     2,956     4,251
       Travel                                 6,628     2,101     4,527
       Telephone                              8,458     2,905     5,552
       Vehicle expenses                          --     5,263    (5,263)
       Benefits                                  --     4,624    (4,624)
       Other                                 14,676    17,846    (3,170)
                                           --------  --------  --------
                                           $233,149  $199,449  $ 33,700
                                           ========  ========  ========


The most significant increase in our general and administrative expenses was
salaries, which increased approximately $20,996 during the first six months of
this fiscal year. Professional fees increased $3,166 over the comparable period
in 2003, and such increase is considered normal under the circumstances. Rent
increased by $8,264 over the comparable period in 2003 because the Company has
additional office space. Filing fees and related shareholder relations increased
$4,251; compared with the same period last year, principally because the Company
is a reporting entity where it was a subsidiary of Wyoming Oil & Minerals, Inc.
in the prior year. Travel increased by $4,527 because the Company has been
spending more time at the Slater Dome area compared with the prior period.
Vehicle expense decreased $5,263 for the first six months of this year compared
with last year because the Company's autos were sold in the prior fiscal year.
Benefits to employees decreased by $4,624 because the Company does not provide
health insurance to its employees in 2004 while it did in the prior period.
Other expenses decreased by a net $3,170 over the comparable period in 2003;
Management believes that such fluctuations are considered normal in the ordinary
course of business.




                                       12
<PAGE>


     Depreciation, depletion and amortization decreased by $22,441, or 72.54%,
in the first six months of this fiscal year compared to the first six months of
last year. While the revenues from production have remained relatively constant,
the production quantities that comprise the basis for the depletion calculation
have decreased; accordingly, depletion, based on units of production has
decreased.

     The Company incurred $15,295 in losses on the disposition of vehicles sold
to former officers in 2003; the Company has not disposed of any assets in 2004.

     Interest income was $2,978 in the first six months of 2004 compared with $0
in 2003. The increase arises from the accretion of the value of the production
payment receivable.

     Interest expense was $9,257 for the first six months ended August 31, 2004
compared to $13,427 for the comparable period in 2003, a decrease of $4,170, or
31.06%. The decrease is a direct result of payments on notes payable principal
of approximately $101,150 from the balance outstanding at August 31, 2003.

     The Company charged dividends on the Series A Convertible Preferred Stock
in the amount of $20,712 to the loss attributable to common shares. The
Preferred Stock was issued in 2004 and not present in 2003.

Liquidity and Capital Resources

     At August 31, 2004, we had a deficit in working capital of ($596,070),
consisting of current assets of $241,840 and current liabilities of $837,910.
Our working capital deficit at August 31, 2004 increased by $393,355 from fiscal
year end February 29, 2004; the principal reason for the change is increase in
current notes payable because the balloon payment in the amount of $215,140 is
classified as current during the current fiscal year together with an increase
in notes payable in August 2004 in the amount of $250,000. Because of the
deficit in working capital, the Company is still dependent upon its ability to
obtain capital from outside sources, as well as generate cash from operations,
to continue in operations over the long term.

     We will likely solicit additional capital in the future in the form of
equity to finance drilling of our share of the ten (10) wells expected to be
drilled at Slater Dome in the spring of 2005, any additional capital necessary
to finance our share of construction of the gas pipeline, and to provide capital
for other lease acquisitions. Management believes, due to the potential reserves
and location of our property, trends in natural gas prices and the domestic
supply of natural gas, that we will be successful in our fund raising efforts.
However, we have no commitments or contracts at present and in the event we are
unable to obtain such financing, we may be forced to sell a portion of our
interest in the Slater Dome Prospect.

     Based on our working capital deficit, we are dependent on the receipt of
additional capital and obtaining profitable operations to continue operations.

     Current assets increased $183,472 or approximately 315.62%, between
year-end February 29, 2004 and August 31, 2004. Cash increased $159,512 during
that time, or approximately 382.67% principally as a result of the proceeds from
the note payable. The trade accounts receivable decreased $4,099 in the normal
course of business. Employee receivables decreased $10,000 because of the
employee repayment of advances. Prepaid expenses increased $5,441 because the
Company prepaid expenses that were not completely amortized as of August 31,
2004. The production receivable, net of $32,898 has been reclassified to current
assets at August 31, 2004



                                       13
<PAGE>


     Current liabilities increased $577,108, or approximately 221.28%, between
year-end February 29, 2004 and August 31, 2004. The current portion of the
long-term debt added a net increase of $181,590 which arose from
reclassification of the long-term portion at the fiscal year end February 29,
2004 of $215,140 offset by a principal payment of $33,550 together with an
increase in notes payable of $250,000. Accounts payable increased $148,792, or
1,053.10%; the principal reason for the increase is due to the costs associated
with developing the Slater Dome prospect. The Company's costs associated with
the development efforts had previously been borne by the operator of the
property in accordance with the sale agreement entered into in fiscal 2003. The
Company had a carried interest of $500,000, which was completely used in July
2004. Accrued expenses decreased $8,452, or 7.7%. The principal components of
the decrease are an increase in accrued compensation of $42,500, a decrease in
accrued expenses in the amount of $20,000 incurred in connection with the
disposition of two of the Company's working interest properties during the
fiscal year ended February 29, 2004, combined with a net decrease in other
miscellaneous accruals in the amount of $14,048.

     Capital Requirements. In addition to the capital necessary to develop our
existing properties and acquire additional properties, we also require immediate
cash for production, general and administrative expenses and retirement of debt.
We are negotiating with several parties in an effort to acquire additional
capital.

Item 3.  Controls and Procedures

     An evaluation was conducted under the supervision and with the
participation of the Company's management, including Paul G. Laird, the
Company's Chief Executive Officer and Les Bates, the Company's Chief Financial
Officer, of the effectiveness of the design and operation of the Company's
disclosure controls and procedures as of August 31, 2004. Based upon that
evaluation, our Chief Executive Officer and our Chief Financial Officer
concluded that our disclosure controls and procedures are effective in timely
alerting them to material information required to be included in this quarterly
report on Form 10-QSB. There have been no significant changes in our internal
controls or in other factors which could significantly affect internal controls
subsequent to the date that the Chief Executive Officer and Chief Financial
Officer carried out the evaluation.


                           PART II--OTHER INFORMATION

Item 1.  Legal Proceedings.

               None

Item 2.  Changes in Securities.

               None

Item 3.  Defaults Upon Senior Securities.

               None

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


                                       14
<PAGE>


               None

Item 5.  Other Information.

               None

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

     (a)  Exhibits: The following exhibits are filed with this report:

          31.1 Certification pursuant to Rule 13a-14(a) or 15d-14(a) under The
               Securities Exchange Act of 1934 as amended.

          31.2 Certification pursuant to Rule 13a-14(a) or 15d-14(a) under The
               Securities Exchange Act of 1934 as amended.

          32.  Certifications pursuant to 18 U.S.C section 1350, as adopted
               pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

     (b)  Reports on Form 8-K:

            August 30, 2004 Material Definitive Agreement



                                   SIGNATURES

     In accordance with the requirements of the Securities Exchange Act of 1934,
as amended, the registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                    New Frontier Energy, Inc.


Date: October 20, 2004              By:  /s/ Paul G. Laird
                                         --------------------------------------
                                             Paul G. Laird, President


                                    By:  /s/ Les Bates
                                         --------------------------------------
                                             Les Bates, Chief Financial Officer






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