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 May 31, 2005

          [ ] 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 July 14, 2005, 3,518,201 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.   Balance Sheet (unaudited) at May 31, 2005                            1

          Statements of Operations (unaudited) for the three
          months ended May 31, 2005 and 2004                                   2

          Statements of Cash Flows (unaudited) for the
          three months ended May 31, 2005 and 2004                             3

          Notes to Financial Statements (unaudited)                            4

Item 2.   Management's Discussion and Analysis or Plan of Operations          10

Item 3.   Controls and Procedures                                             13

Part II - OTHER INFORMATION

 Item 1.  Legal Proceedings                                                   13

Item 2.   Unregistered Sales of Equity Securities and use of proceeds         13

Item 3.   Defaults Upon Senior Securities                                     13

Item 4.   Submission of Matters of a Vote of Security Holders                 13

Item 5.   Other Information                                                   14

Item 6.   Exhibits and Reports on Form 8-K                                    14

SIGNATURES                                                                    15

EXHIBITS





<PAGE>
<TABLE>
<CAPTION>


                            NEW FRONTIER ENERGY, INC.
                                  BALANCE SHEET
                                  MAY 31, 2005
                                   (UNAUDITED)


                                     ASSETS
CURRENT ASSETS
<S>                                                                     <C>
      Cash                                                              $   339,585
      Accounts receivable, trade                                              8,258
      Prepaid expenses                                                       31,687
                                                                        -----------
            Total current assets                                            379,530
                                                                        -----------

PROPERTY AND EQUIPMENT,  NET OF ACCUMULATED DEPRECIATION
  AND DEPLETION OF $110,048                                               3,254,572
                                                                        -----------

OTHER ASSETS
      Investment in Slater Dome Gathering, LLLP                           1,000,000
      Other                                                                     421
                                                                        -----------
                                                                          1,000,421
                                                                        -----------

                                                                        $ 4,634,523
                                                                        ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
      Accounts payable                                                  $   138,548
      Dividends payable                                                      68,293
      Accrued expenses                                                       32,206
      Note payable, shareholder                                             250,000
                                                                        -----------
            Total current liabilities                                       489,047
                                                                        -----------


STOCKHOLDERS' EQUITY
      Preferred stock, $.001 par value, 25,000,000 shares authorized:
         Series A 18% Convertible, 100,000 shares authorized
         50,000 shares issued and outstanding                                    50
         Series B 12% Convertible, 36,036 shares authorized
         31,915 shares issued and outstanding                                    32
      Common stock, $.001 par value, 50,000,000 shares authorized,
           3,494,451 shares issued and outstanding                            3,494
      Additional paid in capital                                          7,476,961
      Accumulated (deficit)                                              (3,335,061)
                                                                        -----------
                                                                          4,145,476
                                                                        -----------

                                                                        $ 4,634,523
                                                                        ===========
</TABLE>


         See accompanying notes to the unaudited financial statements.
                                        1



<PAGE>

                            NEW FRONTIER ENERGY, INC.
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
                                                         Three Months Ended
                                                       May 31,        May 31,
                                                        2005           2004
                                                     -----------    -----------
Operating revenues
       Oil and gas sales                             $     7,581    $     3,322
                                                     -----------    -----------

Operating expenses
       Exploration costs, including dry holes             16,564         16,928
       Lease operating expenses                          115,453            213
       General and administrative                        163,608        122,006
       Restricted common stock award                     234,000             --
       Depreciation, depletion and amortization            7,969          2,754
                                                     -----------    -----------
            Total operating expenses                     537,594        141,901
                                                     -----------    -----------

(Loss) from operations                                  (530,013)      (138,579)
                                                     -----------    -----------

Other income (expense)
       Interest income                                     1,437          1,530
       Interest expense                                  (13,990)        (4,140)
                                                     -----------    -----------
            Other income (expense), net                  (12,553)        (2,610)
                                                     -----------    -----------

(Loss) before income taxes                              (542,566)      (141,189)

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

Net (loss)                                           $  (542,566)   $  (141,189)

Preferred stock dividends                               (108,605)        (8,014)
                                                     -----------    -----------

Net (loss) attributable to common shareholders       $  (651,171)   $  (149,203)
                                                     ===========    ===========

Net (loss) per common share
       Basic and diluted                             $     (0.20)   $     (0.05)
                                                     ===========    ===========

Weighted average shares outstanding
       Basic and diluted                               3,283,581      3,194,451
                                                     ===========    ===========






         See accompanying notes to the unaudited financial statements.
                                        2


<PAGE>
<TABLE>
<CAPTION>


                            NEW FRONTIER ENERGY, INC.
                            STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                                                                                     Three Months Ended
                                                                                   May 31,          May 31,
                                                                                   2005              2004
                                                                                 ------------   ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
<S>                                                                              <C>            <C>
    Net (loss)                                                                   $  (542,566)   $  (141,189)
    Adjustments to reconcile net (loss) to net cash
       Provided by (used in) operating activities:
         Depreciation, depletion and amortization                                      7,969          2,754
         Accretion of interest on production payment                                      --         (1,449)
         Issuance of restricted  common stock award                                  234,000             --
         (Increase) decrease in assets:
           Accounts receivable                                                         1,259          2,028
           Prepaid expense                                                           (23,738)        (4,074)
         Increase (decrease) in liabilities:
           Accounts payable                                                         (274,747)        13,359
           Accrued expenses                                                          (25,190)       (39,850)
                                                                                 -----------    -----------

       Net cash (used in) operating activities                                      (623,013)      (168,421)
                                                                                 -----------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:

    Other assets                                                                          --           (420)
    Investment in Slater Dome Gathering LLLP                                      (1,000,000)
    Purchase of property and equipment                                               (13,249)       (68,830)
                                                                                 -----------    -----------

       Net cash (used in) investing activities                                    (1,013,249)       (69,250)
                                                                                 -----------    -----------

CASH FLOWS FROM FINANCING ACTIVITIES:

    Payment of notes payable                                                        (250,027)       (33,551)
    Issuance of preferred stock and warrants for cash                                     --        250,000
    Expenses associated with the issuance of preferred stock and warrants             (8,875)            --
    Preferred stock dividends paid                                                   (64,991)        (4,191)
    Repayment of employee advances                                                        --          3,400
                                                                                 -----------    -----------

       Net cash (used in) provided by financing activities                          (323,893)       215,658
                                                                                 -----------    -----------

(DECREASE) IN CASH                                                                (1,960,155)       (22,013)

BEGINNING BALANCE                                                                  2,299,740         41,684
                                                                                 -----------    -----------

ENDING BALANCE                                                                   $   339,585    $    19,671
                                                                                 ===========    ===========

Cash paid for interest                                                           $     8,153    $       733
                                                                                 ===========    ===========

Supplemental schedule of non-cash investing and financing activities:
       Restricted common stock award                                             $   234,000    $        --
       Series B preferred stock converted to common                              $        40    $        --
       Reduction of property and equipment arising from a decrease in accounts
         payable for oil and gas leases that were not issued                     $    45,033    $        --
       Issuance of warrants                                                                     $     8,000


</TABLE>


         See accompanying notes to the unaudited financial statements.

                                  3
<PAGE>


                            NEW FRONTIER ENERGY, INC.
                     NOTES TO UNAUDITED FINANCIAL STATEMENTS
                                  May 31, 2005

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

     Organization and Nature of Business
     -----------------------------------

     New Frontier Energy, Inc. ("New Frontier") was incorporated as Storage
     Finders.com under the laws of Colorado on January 7, 2000. In March 2001
     the Company changed its name to New Frontier Energy, Inc. The Company is an
     oil and gas exploration company operating primarily in Colorado and
     Wyoming.

     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. The Company's shareholders became
     shareholders in Wyoming, and the Company became a wholly owned subsidiary
     of Wyoming until June 30, 2003.

     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 common stock for every four
     shares of common stock of Wyoming. Shareholders of record of Wyoming as of
     the close of business on June 30, 2003, the record date, were issued a
     certificate representing one share of New Frontier for each four shares of
     Wyoming they held at that date.

     During the three months ended May 31, 2005, the Company invested in limited
     partnership interests in Slater Dome Gathering, LLLP which owns an 18-mile
     gas gathering line that transports the Company's natural gas from the
     Slater Dome Prospect to a Questar transportation line in Baggs, Wyoming.
     The Company began selling gas in June 2005.

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

     The 2004 financial statements include the accounts of the Company and its
     former wholly owned subsidiary, Skyline Resources, Inc., which was merged
     into New Frontier effective the close of business on February 28, 2005. All
     significant intercompany accounts and transactions in 2004 were eliminated.

     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 28,
     2005 included in the Company's annual report on Form 10-KSB.

                                        4
<PAGE>
     Reclassifications
     -----------------

     Certain amounts reported in the Company's financial statements for the
     three months ended May 31, 2004 have been reclassified to conform to the
     current period presentation.


2.   STOCKHOLDERS' EQUITY
     --------------------

     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. The share and loss per share amounts
     for the three months ended May 31, 2004, have been adjusted for the split.

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

     On March 1, 2004, the Board of Directors authorized the designation of
     100,000 shares of the Series A 18% Convertible Preferred Stock (the "Series
     A Preferred Stock") . The issue price of the Series A Preferred Stock is
     $5.00 per share ("Issue Price.") Effective November 8, 2004, the Series A
     Preferred Stock Certificate of Designation was amended to provide that the
     Series A Preferred Stock shall rank in parri passu to the Series B
     Preferred Stock for payment of dividends, redemption and liquidation. The
     Series A Preferred Stock pays a cumulative, preferential cash dividend at
     the rate of 18% of the Issue Price per year that is payable monthly in
     arrears. The dividend is payable out of funds legally available for that
     purpose and will accumulate during any period when it is not paid. The
     holders of the Series A Preferred Stock may convert any or all of the
     shares into shares of our Common Stock by dividing the Issue Price of the
     aggregate number of shares of Series A Preferred Stock being converted plus
     any accrued but unpaid dividends by an amount equal to $0.65. If not sooner
     converted, all of the Series A Preferred Stock automatically converts into
     Common Stock on the two-year anniversary of the issue date, or March 1,
     2006. The outstanding shares of Series A Convertible Preferred Stock may be
     redeemed by the Company for an amount equal to the $5.00 per share issue
     price and any accrued and unpaid dividends upon not less than 15 days
     advance notice to the holders of the Series A Preferred Stock.

     Except as otherwise provided in the Series A Preferred Stock Certificate of
     Designation with respect to matters that adversely affect the rights of the
     holders of the Series A Preferred Stock, and as otherwise required by law,
     the Series A Preferred Stock shall have no voting rights.


                                        5
<PAGE>
     Upon any liquidation, dissolution or winding-up of the Company, whether
     voluntary or involuntary, the holders of the Series A Preferred Stock shall
     be entitled to receive out of the assets of the Company, whether such
     assets are capital or surplus, for each share of Series A Preferred Stock
     an amount equal to the stated value ($5.00) of the Series A Preferred Stock
     per share plus any accrued and unpaid dividends thereon and any other fees
     or liquidated damages owing.

     If the assets of the Company are insufficient to pay in full such amounts,
     then the entire assets to be distributed to the holders of the Series A
     Preferred Stock shall be distributed among the holders of the Series A
     Preferred Stock and the holders of the Series B Preferred Stock ratably in
     accordance with the respective amounts that would be payable on such shares
     if all amounts payable thereon were paid in full.

     During the quarter ended May 31, 2004, 50,000 shares of the Series A
     Preferred Stock were issued for cash of $250,000.

     During the quarters ended May 31, 2005 and 2004, the Company paid cash
     dividends on the Series A Preferred Stock in the amount of $7,521 and
     $4,192 respectively: Accrued dividends were $3,822 and $3,822 as of May 31,
     2005 and 2004 respectively.


     Series B Convertible Preferred Stock
     ------------------------------------

     Effective November 1, 2004, the board of directors of the Company approved
     an amendment to the Company's Articles of Incorporation to provide for the
     issuance of up to 36,036 shares of Series B 12% Cumulative Convertible
     Preferred Stock par value $0.001 (the "Series B Preferred"). The issue
     price of the Series B Preferred Stock is $100.00 per share. The Series B
     Preferred Stock ranks in pari passu with the Series A Preferred for payment
     of dividends, redemption and liquidation. Each share of Series B Preferred
     Stock shall be convertible, at the option of the Holder, into that number
     of shares of Common Stock determined by dividing the issue price of the
     aggregate number of shares of Series B Preferred being converted plus any
     accrued and unpaid dividends by $.65 per share, unless otherwise adjusted.
     The Series B Preferred pays a cumulative, preferential cash dividend equal
     to 12% of the $100 issue price per year and is payable quarterly in
     arrears. The dividend is payable out of funds legally available for that
     purpose and will accumulate during any period when it is not paid.
     Dividends on the Series B Preferred Stock began on April 30, 2005.

     The Series B Preferred Stock has customary weighted-average anti-dilution
     rights with respect to any subsequent issuance of Common Stock or Common
     Stock equivalents at a price less than $0.65 per share, and otherwise in
     connection with forward or reverse stock splits, stock dividends,
     recapitalizations, and the like. The anti-dilution provisions shall not
     apply to employee stock options and shares issued in connection with
     certain mergers and acquisitions.

     Except as otherwise provided in the Series B Preferred Stock Certificate of
     Designation with respect to matters that adversely affect the rights of the
     holders of the Series B Preferred Stock, and as otherwise required by law,
     the Series B Preferred Stock has no voting rights.


                                        6
<PAGE>
     Upon any liquidation, dissolution or winding-up of the Company, whether
     voluntary or involuntary, the holders of the Series B Preferred Stock shall
     be entitled to receive out of the assets of the Company, whether such
     assets are capital or surplus, for each share of Series B Preferred Stock
     an amount equal to the stated value ($100.00) of the Series B Preferred
     Stock per share plus any accrued and unpaid dividends thereon and any other
     fees or liquidated damages owing. If the assets of the Company are
     insufficient to pay such amounts in full, then the entire assets to be
     distributed to the holders of the Series B Preferred Stock shall be
     distributed among the holders of the Series B Preferred Stock and the
     holders of the Series A Preferred Stock ratably in accordance with the
     respective amounts that would be payable on such shares if all amounts
     payable thereon were paid in full.

     On or after February 28, 2007, and in the event the closing bid price of
     the Company's Common Stock has closed for 20 consecutive trading days at a
     price not less than $1.30 (subject to adjustment), the Company may deliver
     notice to holders of the Series B Preferred Stock of the Company's
     irrevocable election to redeem all or part of the Series B Preferred Stock.
     The redemption price is to be an amount equal to the stated value ($100.00)
     of the Series B Preferred Stock per share plus any accrued and unpaid
     dividends thereon and any other fees or liquidated damages owing. The
     Company must provide 30 days' written notice to the holders of the Series B
     Preferred Stock.

     During the three months ended May 31, 2005, holders of 260 shares of Series
     B Preferred Stock converted the shares into 40,000 shares of common stock
     in accordance with the terms of the Series B Preferred Stock. As of May 31,
     2005, there were 31,915 shares of the Series B Preferred Stock issued and
     outstanding.

     The Company paid cash dividends on the Series B Preferred Stock in the
     amount of $52,786 and accrued $64,471 as of May 31, 2005.

     Stock Option Plan

     On May 13, 2005, the Company issued 10 year stock options aggregating
     150,000 shares under the incentive stock option plan to its executive
     officers at an exercise price of $1.15. The Company's stock closed at $1.15
     on May 13, 2005. The fair value of the options was estimated on the date of
     the grant utilizing the Black-Scholes option pricing model with the
     following assumptions: expected life of the options is 10 years, expected
     volatility of 93%, risk free interest rate of 4.2% and no dividend yield.
     The fair value for the options granted was approximately $1.02 per share.

     The Company has accounted for the stock options granted to employees and
     the director using the intrinsic value method. No stock-based employee
     compensation cost is reflected in the net loss, as all options granted
     under the plan had an exercise price greater than the market value of the
     underlying common stock on the date of grant. The following table
     illustrates the effect on net loss had the Company adopted the fair value
     based method of accounting for stock options (using the Black-Scholes
     pricing model) provided under SFAS No.123, "Accounting for Stock-Based
     Compensation", to stock-based employee compensation.

                                        7
<PAGE>
<TABLE>
<CAPTION>
                                                              Quarter      Quarter
                                                               Ended        Ended
                                                              May 31,       May 31,
                                                               2005         2004
                                                          -------------------------
<S>                                                       <C>           <C>
         Net (loss) as reported                           $  (542,566)  $ (141,189)
         Preferred stock dividends
                                                             (108,605)      (8,014)
                                                          -------------------------
         Net (loss) attributable to common shareholders      (149,203)    (651,171)
         Deduct:
           Total stock-based employee compensation
           determined under fair value based methods
           net of related tax effects
                                                             (152,591)          --
                                                          -------------------------
         Pro forma net (loss)                             $  (803,762)  $ (149,203)
                                                          =========================

         Earnings per share:

           Basic and diluted as reported                  $   (0.20)    $  (0.05)
                                                          =========================

           Basic and diluted  pro forma                   $   (0.24)    $  (0.05)
                                                          =========================
</TABLE>


     Restricted Stock Award
     ----------------------

     On May 19, 2005, the Company granted restricted stock awards, which vested
     on that date, of 100,000 shares of its $0.001 par value Common Stock to
     each of its executive officers as compensation for services. The Company's
     common stock closed at $1.17 on that day.

3.   RELATED PARTIES
     ---------------

     The Company paid $4,500 during the quarters ended May 31, 2005 and 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 Company's
     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.

     The Company paid a corporation controlled by one of the directors $4,500
     and $3,000 for geological consulting during the quarters ended May 31, 2005
     and 2004 respectively.

     During the quarter ended May 31, 2005, the Company invested $1,000,000 for
     a limited partnership interest in Slater Dome Gathering, LLLP ("SDG"), the
     partnership organized for the proposed construction of the natural gas
     gathering line from the Company's Slater Dome Prospect that will transport
     the gas from the Slater Dome Prospect to the Questar transmission line at
     Baggs, Wyoming. The Company's President and Chief Executive Officer is a
     manager of Natural Resource Group Gathering, LLC ("NRGG" or the "General
     Partner"). NRGG is the general partner of SDG. The Company will receive a
     minimum of a 30% limited partnership interest in SDG until payout and 25%
     after payout. The Partnership Agreement provides that distributions will be
     allocated (i) First, to the General Partner in the amount of the Out of
     Pocket Costs (as defined in the Partnership Agreement) to reimburse the
     General Partner for such costs; (ii) Second, 90% shall be distributed to
     the Limited Partners of SDG (pro rata in accordance with their respective
     Percentage Interests) and 10% shall be distributed to the General Partner
     until such time as the Unreturned Capital (as defined in Partnership
     Agreement") of all of the Limited Partners is reduced to zero; and (iii)
     Thereafter, 75% to the Limited Partners (pro rata in accordance with their
     respective Percentage Interests) and 25% to the General Partner.
     Distributions shall be distributed at such time or times as the General
     Partner shall determine in its sole discretion. NRGG has a 10% and 25%
     carried interest before and after payout respectively. NRGG will receive a
     project management fee of $200,000 and will receive an operating management
     fee of 1% of the invested capital for the first 12 months the pipeline is
     in operation and 2% of gross receipts thereafter. Further, the Company,
     along with the other working interest owners at our property located at the
     Slater Dome Prospect, have agreed to pay SDG a fee of $0.50 per mcf of gas
     transported through the line until the costs of the gathering pipeline are
     recovered and $0.25 thereafter and to dedicate their gas to the gathering
     pipeline.


                                        8
<PAGE>
4.   SUBSEQUENT EVENTS

     The Board of Directors authorized the issuance of 3,750 shares of common
     stock to a corporation controlled by one of the directors in payment for
     services in the amount of $4,500 accrued at May 31, 2005. The Company's
     common stock closed at $1.20 per share on the date of the authorization.

     The Board of Directors authorized the issuance of 20,000 shares of common
     stock to an unrelated third party in consideration for geological services
     rendered in the amount of $24,000; the Company's common stock closed at
     $1.20 per share on the date of the authorization.








                                        9
<PAGE>

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 general state of the economy;

     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 28, 2005, 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 28, 2005.



                                       10
<PAGE>
General

     The following discussion and analysis covers the consolidated financial
condition of New Frontier Energy, Inc. ("we" or the "Company") at May 31, 2005,
changes in our financial condition since February 28, 2005, the end of the
previous fiscal year, and a comparison of the results of operation for the three
months ended May 31, 2005 to the same period from the previous year. This
information should be read in conjunction with our Annual Report on Form 10-KSB
for the year ended February 28, 2005.


Results of Operation: Three months ended May 31, 2005 compared to the three
months ended May 31, 2004

     For the three months ended May 31, 2005, we reported a net loss
attributable to common shareholders of $651,171, or $0.20 per share, on revenue
of $7,581. This compares to a net loss of $149,203, or $.05 per share, on
revenue of $3,322, for the comparable period of the previous fiscal year. We
expect to incur losses until such time as we establish stable production levels
of gas from the Slater Dome Prospect.

     Revenues for the three months ended May 31, 2005 were $7,581 compared with
$3,322 the first fiscal quarter of 2003, an increase of $4,259 or 128.2%. Our
only producing properties during the three months ended May 31, 2005 and 2004
were those in which we have an overriding royalty interest. The change results
from increased production quantities and an increase in the price of oil and is
considered normal in the ordinary course of business.

     Exploration costs during the three months ended May 31, 2005 were $16,564
compared with $16,928 for the comparable period in 2004, a decrease of $364, or
2.2%. The fluctuation is considered normal in the ordinary course of business.

     Lease operating costs were $115,453 during the three months ended May 31,
2005 as compared to $213 for the comparable period in 2004, an increase of
$115,240, or 54103.29%. The change arises because the wells at the Slater Dome
Prospect were dewatering in anticipation of production in the second quarter of
this fiscal year together with the fact that the operating costs during the
three month period ended May 31, 2004 were born by the operator, Cedar Ridge,
LLC, in accordance with the sale by the Company to Cedar Ridge of a 36.67%
working interest in the Slater Dome Prospect in April 2003.

     Restricted stock award compensation increased $234,000 as a result of the
issuance of 200,000 shares of common stock issued to our executive officers in
the three months ended May 31, 2005 and there were no awards in the comparable
period ended in 2004.

     General and administrative expenses were $163,608 for the first three
months ended May 31, 2005, compared to $122,006 for the three months ended May
31, 2004, an increase of $41,602, or 34.1%. The following table summarizes the
major components of the fluctuations:

                    Salaries                 $      1,438
                    Professional fees              20,228
                    Insurance                       4,224
                    Travel                         12,657
                    Miscellaneous                   3,055
                                             -------------
                                             $     41,602
                                             =============

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Salaries increased $1,438 as a result of the increase of a part time clerical
staff member. Professional fees increased as a result of additional expense
associated with land work on potential property acquisitions in the amount of
$9,225, increased auditing fees of $7,682 offset by decreased legal expense of
$3,832. During the three months ended May 31, 2005, travel increased by $12,657
as compared with the same period in 2004 as a result of travel associated with
fundraising activities as well as expenses for the Company's contract land
person who was researching titles on leases. Miscellaneous other expenses
increased $3,055 in the three months ended May 31, 2005 as compared to the
comparable period in 2004 and is considered normal in the ordinary course of
business.

     Depreciation, depletion and amortization expenses were $7,969 for the three
months ended May 31, 2005, compared to $2,754 for the three months ended May 31,
2004, an increase of $5,215, or 189.4%. The increase is primarily the result of
increased oil and gas production in the current quarter compared to the previous
quarter.

     Interest income was $1,437 during the three months ended May 31, 2005
compared with $1,530 during the three months ended May 31, 2004, a decrease of
$93 or 6% and the fluctuation is considered normal in the ordinary course of
business.

     Interest expense was $13,990 for the three months ended May 31, 2005
compared to $4,140 during the three months ended May 31, 2004, an increase of
$9,850, or 237.9%. The increase is a direct result of an increase in notes
payable, shareholder in the amount of $250,000 which was not present at May 31,
2004.

     During the three months ended May 31, 2005, the Company charged dividends
on the Series A Preferred Stock and the Series B Preferred Stock in the amount
of $108,605 to the loss attributable to common shareholders as compared to
$8,014 for the comparable period in 2004. The Series B Preferred Stock was not
issued until the last quarter of the year ended February 28, 2005 and
accordingly, the dividends attributable to those shares were not present in the
three month ended May 31, 2004.

Liquidity and Capital Resources

     At May 31, 2005, we had a deficit in working capital of $109,517,
consisting of current assets of $379,530 and current liabilities of $489,047.
Our working capital position at May 31, 2005 decreased by $1,386,293 from fiscal
year end February 28, 2005; the principal reason for the decrease is the
investment in limited partnership interests in Slater Dome Gathering, LLLP in
the amount of $1,000,000, payment of bank debt of $253,483 together with a net
reduction in other liabilities of $23,293. As a result 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.

     Current assets decreased $1,937,676 or approximately 83.6%, between
year-end February 28, 2005 and May 31, 2005. Cash decreased $1,960,155 during
that time, or approximately 85.2%. The trade accounts receivable decreased
$1,259 in the normal course of business. Prepaid expenses increased $23,736
because the Company incurred additional prepaid expenses that were not
completely amortized as of May 31, 2005.


                                       12
<PAGE>
     Current liabilities decreased $551,383, or approximately 53.0%, between
year-end February 28, 2005 and May 31, 2005. The note payable, bank decreased
$250,027 because the debt was paid in full in March 2005. Accounts payable
decreased $319,781, or 69.8% and such decrease is considered normal in the
ordinary course of business. Dividends payable increased $43,614, or 176.7%
because the Company had an increase in outstanding preferred stock amounting to
$3,217,500 as compared to 2004. Accrued expenses decreased $25,190, or 43.9% as
a result of a decrease in accrued compensation in the amount of $26,765 offset
by increases in other accruals of $1,575.

     Management believes that due to the potential reserves and production of
natural gas from our Slater Dome property, and the current natural gas prices
and the domestic supply of natural gas, our current position is expected to be
sufficient to meet our capital and operating requirements for the next twelve
months

Item 3.  Controls and Procedures

     As of the end of the period covered by this report, an evaluation was
carried out by New Frontier Energy, Inc., with the participation of our Chief
Executive Officer and Chief Financial Officer, of the effectiveness of our
disclosure controls and procedures (as defined in Rule 13a-15(e) under the
Securities Exchange Act of 1934). Based upon that evaluation, our Chief
Executive Officer and Chief Financial Officer concluded that these disclosure
controls and procedures were effective as of the end of the period covered by
this report. In addition, no change in our internal control over financial
reporting (as defined in Rule 13a-15(f) under the Securities Exchange Act of
1934) occurred during our most recent fiscal quarter that has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.

                           PART II--OTHER INFORMATION

Item 1.  Legal Proceedings

         Not Applicable.

Item 2.  Unregistered Sales of Equity Securities and use of proceeds

     On June 28, 2005, the Company issued 3,750 shares of its $0.001 par value
common stock (the "Common Stock") to an entity that is an affiliate of a
director of the Company as compensation for $4,500 for accrued services.
Further, on June 28, 2005, the Board of Directors authorized the issuance of
20,000 shares of Common Stock as compensation to a nonaffiliated entity for
geological and geophysical consulting services. As of the date of this Quarterly
Report, the 20,000 shares have not been issued. The 3,750 shares and the 20,000
shares of Common Stock are referred to herein as the Shares. The Shares have
been valued at $1.20 per share, which was the closing price of the Common Stock
on June 28, 2005. The offer and sale of the Shares was exempt from the
registration provisions of the Securities Act under Section 4(2) of the
Securities Act.

Item 3.  Defaults Upon Senior Securities

         Not Applicable.

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

         Not Applicable.




                                       13
<PAGE>

Item 5.  Other Information

         Not Applicable.


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:

          1.   March 1, 2005, entry into a Material Definitive Agreement.
               Effective New Frontier Energy, Inc. (the "Corporation") entered
               into amended employment agreements with Paul G. Laird, the
               Corporation's President and Chief Employee Officer and Les Bates,
               the Corporation's Secretary/Treasurer, Principal Accounting
               Officer and Chief Financial Officer

          2.   May 19, 2005, New Frontier Energy, Inc. (the "Corporation")
               issued a press release announcing the investment of an aggregate
               of $1,000,000 in a private offering of Class A limited
               partnership interests (the "Investment") in Slater Dome
               Gathering, LLLP ("SDG"). SDS has built a 18 mile gathering line
               to collect gas from wells capable of producing gas in the Slater
               Dome/Coal Bank Draw Prospect

          3.   On June 7, 2005, New Frontier Energy, Inc. (the "Corporation")
               issued a press release announcing the connection to Questar gas
               transportation hub south of Baggs, Wyoming and the commencement
               of production from its Slater Dome Prospect.



                                       14
<PAGE>




                                   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: July 14, 2005                    By:  /s/ Paul G. Laird
                                            --------------------------------
                                                Paul G. Laird, President and
                                                Chief Executive Officer


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









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