SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549
                                      ____
                           --------------------------

                                   FORM 10-QSB


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

                  For the quarterly period ended June 30, 2003

                                       OR

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



                         Commission file number 0-30472

                               PIONEER OIL AND GAS
             Incorporated pursuant to the Laws of the State of Utah



        Internal Revenue Service - Employer Identification No. 87-0365907

                      1206 W. South Jordan Parkway, Unit B
                          South Jordan, Utah 84095-5512



Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 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 ___


The total number of shares of the  registrant's  Common Stock,  $.001 par value,
outstanding on June 30, 2003, was 7,961,618.



<PAGE>



















                          Part I. FINANCIAL INFORMATION

           Item 1. Financial Statements for Third Fiscal Quarter 2003
                           Period Ending June 30, 2003


















<PAGE>
<TABLE>
<CAPTION>



               Financial Statements for Third Fiscal Quarter 2003
                           Period Ending June 30, 2003

                               PIONEER OIL AND GAS
                                  Balance Sheet

                               As of June 30, 2003
                                   (Unaudited)

<S>                                                                       <C>
Assets

Current assets:
       Cash                                                                 $    174,484
       Accounts receivable                                                       162,451
       Resale leases, at lower of cost or market                                 256,349
                                                                             -----------

                  Total current assets                                           593,284

Property and equipment - net (successful efforts method)                         486,685
Other assets                                                                       2,000
                                                                             -----------

                                                                            $  1,081,969
------------------------------------------------------------------------------------------------------------------------------------
       Liabilities and Stockholders' Equity (Deficit)

Current liabilities:
       Accounts payable                                                     $     40,102
       Accrued expenses                                                           35,428
       Note payable                                                                    -
                                                                             -----------

                  Total current liabilities                                       75,530
                                                                             -----------

Commitments and contingencies                                                          -

Stockholders' equity (deficit):
       Common stock, par value $.001 per share, authorized
         50,000,000 shares: 7,986,618  shares outstanding                          7,961
       Additional paid-in capital                                              2,495,292
       Stock subscription receivable                                            (245,267)
       Accumulated deficit                                                    (1,251,547)
                                                                             -----------

                  Total stockholder's equity (deficit)                         1,006,439
                                                                             -----------

                                                                            $  1,081,969

</TABLE>

<PAGE>
<TABLE>
<CAPTION>



                               PIONEER OIL AND GAS
                             Statement of Operations

                Third Fiscal Quarter - Three Months Ending June 30,
                                   (unaudited)


                                                                                    2003             2002
                                                                                    ----             ----
<S>                                                                       <C>              <C>
Revenue:
       Oil and gas sales                                                    $    237,350     $    182,692
       Royalty Revenue                                                           140,021           27,193
       Operational reimbursements                                                  3,106                -
       Project and lease sales income                                            504,348                -
                                                                             -----------      -----------

                                                                                 884,825          209,885
                                                                             -----------      -----------

Costs and expenses:
       Cost of operations                                                        142,451           75,935
       General and administrative expenses                                        75,603           77,021
       Exploration costs                                                         111,172           44,923
       Lease rentals                                                              15,950              475
       Depreciation, depletion and amortization                                   21,831           26,059
                                                                             -----------      -----------

                                                                                 367,007          224,413
                                                                             -----------      -----------

                  Income (loss) from operations                                  517,818          (14,528)
                                                                             -----------      -----------

Other income (expense):
       Loss on assets abandoned                                                 (308,261)               -
       Interest expense                                                           (6,092)          (7,486)
       Other (expense) income                                                         51            1,073
                                                                             -----------      -----------

       Income (loss) before provision
                  for income taxes                                               203,516          (20,941)
       Provision for income taxes                                                      -                -
                                                                             -----------      -----------

                  Net income (loss)                                         $    203,516     $    (20,941)
                                                                             -----------      -----------


Earnings per share - basic and diluted                                      $        .03     $        .00
                                                                             -----------      -----------

Weighted average common shares - basic and diluted                             7,962,000        7,987,000
                                                                             -----------      -----------

</TABLE>
<PAGE>
<TABLE>
<CAPTION>



                               PIONEER OIL AND GAS
                             Statement of Operations

                    Nine Months Ended June 30, 2003 and 2002
                                   (unaudited)


                                                                                    2003             2002
                                                                                    ----             ----
<S>                                                                       <C>              <C>
Revenue:
       Oil and gas sales                                                    $    692,790     $    475,244
       Royalty Revenue                                                           253,363          217,893
       Operational reimbursements                                                  6,606           10,096
       Project and lease sales income                                            538,185                -
                                                                             -----------      -----------


                                                                               1,490,944          703,233
                                                                             -----------      -----------

Costs and expenses:
       Cost of operations                                                        398,975          250,751
       General and administrative expenses                                       233,706          239,826
       Exploration costs                                                         205,138          133,477
       Lease rentals                                                              54,514           28,794
       Depreciation, depletion and amortization                                   65,561           78,079
                                                                             -----------      -----------

                                                                                 957,894          730,927
                                                                             -----------      -----------

                  Income (loss) from operations                                  533,050          (27,694)

Other income (expense):
       Gain (loss) on assets sold or abandoned                                  (355,459)         (11,735)
       Interest expense                                                          (23,476)         (17,546)
       Other (expense) income                                                      8,269            8,982
                                                                                  ------            -----

       Income (loss) before provision
                  for income taxes                                               162,384          (47,993)

       Provision for income taxes                                                      -                -
                                                                             -----------      -----------


                  Net income (loss)                                         $    162,384     $    (47,993)
                                                                             -----------      -----------

Earnings per share - basic and diluted                                      $        .02     $       (.01)
                                                                             -----------      -----------

Weighted average common shares - basic and diluted                             7,962,000        7,987,000
                                                                             -----------      -----------

</TABLE>

<PAGE>
<TABLE>
<CAPTION>



                               PIONEER OIL AND GAS
                             Statement of Cash Flows
                For The Nine Months Ended June 30, 2003 and 2002
                                   (unaudited)
                                                                                    2003             2002
                                                                                    ----             ----
<S>                                                                       <C>              <C>
Cash flows from operating activities:
       Net income                                                           $    162,384     $    (47,993)
       Adjustments to reconcile net income to net cash
         (used in) provided by operating activities:
           Loss (Gain) on assets sold or abandoned                               355,459                -
           Depreciation, depletion and amortization                               65,561           78,079
           Employee benefit plan expense                                          20,698           13,799
           Interest income                                                        (7,746)          (8,094)
           (Increase) decrease in:
               Accounts receivable                                               (41,278)         (41,055)
               Resale leases                                                     271,459         (104,162)
               Other assets                                                            -           (2,050)
           Increase (decrease) in:
               Accounts payable                                                  (88,325)         (64,985)
               Accrued expenses                                                    4,476           (2,369)
                                                                             -----------      -----------

                  Net cash (used in) provided by
                  operating activities                                           742,688        (178,830)
                                                                             -----------      -----------

Cash flows from investing activities:
       Acquisition of property and equipment                                      (4,504)        (177,059)
                                                                             -----------      -----------

                  Net cash used in investing activities                           (4,504)        (177,059)
                                                                             -----------      -----------

Cash flow from financing activities:
       Increase/(Decrease) in Credit Line                                       (654,158)         434,157
       Acquisition of Treasury Stock                                                   -           (2,620)
                                                                             -----------      -----------
         Net cash provided by (used in)financing activities                     (654,158)         431,537
                                                                             -----------      -----------

                  Net increase (decrease) in cash                                 84,026           75,648

Cash, beginning of period                                                   $     90,458     $      3,563
                                                                             -----------      -----------
Cash, end of period                                                         $    174,484         $ 79,211
                                                                             -----------      -----------


</TABLE>
<PAGE>








                               PIONEER OIL AND GAS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                    Third Fiscal Quarter Ending June 30, 2003
                                   (Unaudited)

NOTE 1 - UNAUDITED INTERIM INFORMATION

The accompanying  unaudited consolidated financial statements have been prepared
in  accordance  with  generally  accepted  accounting   principles  for  interim
financial  information  and with the  instructions to Form 10-QSB and Regulation
S-B.  Accordingly,  they do not include  all of the  information  and  footnotes
required by generally  accepted  accounting  principles  for complete  financial
statements. In the opinion of management,  all adjustments (consisting of normal
recurring  accruals)  considered  necessary  for a fair  presentation  have been
included.  Operating  results for the three-month and nine-month  periods ending
June 30, 2003 are not necessarily indicative of the results that may be expected
for the year ending  September 30, 2003. For further  information,  refer to the
financial statements and footnotes thereto included in the Company's Form 10-KSB
for the year ended September 30, 2002.

     (1) The unaudited financial  statements include the accounts of Pioneer Oil
     and Gas and include all adjustments  (consisting of normal recurring items)
     which are, in the opinion of  management,  necessary to present  fairly the
     financial  position as of June 30, 2003 and the results of  operations  and
     cash flows for the three-month  and nine-month  periods ended June 30, 2003
     and 2002.  The results of operations  for the  three-month  and  nine-month
     periods ended June 30, 2003 are not necessarily indicative of the result to
     be expected for the entire year.

     (2) Loss per common share is based on the weighted average number of shares
     outstanding during the period.

     (3) During  the nine  months  ended June 30,  2003,  the  company  recorded
     interest  income (on the stock  subscription  receivable) of $7,746 reduced
     the stock  subscription  receivable  by $12,952  and  recorded  an employee
     benefit plan contribution of $20,698.



<PAGE>


     Item 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                              RESULTS OF OPERATIONS
                           (Period Ending June, 2003)
                            Unaudited financial data

     The discussion and analysis  contained herein should be read in conjunction
     with the preceding  financial  statements and the information  contained in
     the  Company's  10KSB.  Except  for the  historical  information  contained
     herein,  the  matters  discussed  in this 10 QSB  contain  forward  looking
     statements within the meaning of Section 27a of the Securities Act of 1933,
     as amended,  and Section 21e of the  Securities  Exchange  Act of 1934,  as
     amended,  that are based on management's  beliefs and assumptions,  current
     expectations,   estimates,   and  projections.   Statements  that  are  not
     historical  facts,   including  without  limitation  statements  which  are
     preceded by,  followed by or include the words  "believes,"  "anticipates,"
     "plans,"   "expects,"   "may,"   "should,"  or  similar   expressions   are
     forward-looking  statements.  Many of the factors that will  determine  the
     company's  future  results are beyond the ability of the Company to control
     or predict.  These statements are subject to risks and  uncertainties  and,
     therefore, actual results may differ materially. All subsequent written and
     oral  forward-looking  statements  attributable to the Company,  or persons
     acting on its behalf,  are expressed  qualified in their  entirety by these
     cautionary  statements.  The Company disclaims any obligation to update any
     forward-looking  statements whether as a result of new information,  future
     events or otherwise.

     Important  factors that may include,  but are not limited to: the risk of a
     significant  natural  disaster,  the  inability  of the  Company  to insure
     against  certain  risks,  fluctuations  in commodity  prices,  the inherent
     limitations  in the  ability to  estimate  oil and gas  reserves,  changing
     government regulations,  as well as general market conditions,  competition
     and pricing,  and other risks  detailed  from time to time in the Company's
     SEC reports, copies of which are available upon request from the Company.

   Results of Operations -

Total Revenue for the third fiscal  quarter  increased 322 percent from $209,885
in fiscal 2002 to $884,825 in fiscal 2003.  For the nine-month  period  revenues
increased 112 percent from $703,233 to  $1,490,944.  The increase in revenue for
the  nine-month  period was due to  increases  in oil and gas sales and  royalty
revenue of 37 percent and the realization of $538,185 in project and lease sales
income.  No project or lease sale  income was  realized  in the same  period for
2002. The Company sold 23,800 acres of its 37,000 acre overpressured gas project
in the Uinta Basin of Utah to two large  independent oil and gas companies.  The
Company retained an overriding royalty interest on all the sold property as well
as a carried working interest on some of the property.

Total oil and gas sales (including  royalty revenue)  increased from $209,885 to
$377,371 in the third quarter and from  $693,137 to $946,153 for the  nine-month
period.  These  increases were due primarily to increased  production and higher
product prices.  Average oil prices for the quarter increased from $22.08 bbl to
$25.19 bbl while gas  prices  increased  from  $2.24 MCF to $4.27  MCF.  For the
nine-month  period,  average oil prices  increased from $19.25 bbl to $25.47 bbl
while  gas  prices  increased  from  $3.11  to  $3.46.  Gas  production  for the
nine-month period increased by 79 percent primarily due to increased  production
on our Hunter Mesa  properties.  Oil  production  increased 6 percent during the
nine-month  period  due to less down time on our  operated  properties.  For the
three-month  period oil production  increased  nine percent for similar  reasons
while gas production increased 88 percent.

<PAGE>



Project and lease sales income for the  nine-month  period  increased from $0 in
2002 to $538,185 in 2003. As previously  mentioned this was primarily due to the
sale of about two-thirds of our Uinta Basin Overpressured Gas Prospect (Uinta).

Costs of  operations  increased  from  $75,935 to  $142,451  for the quarter and
increased  from  $250,751 to $398,975 for the  nine-month  period  primarily due
higher payments to working interest partners due to higher product prices.

General and  administrative  expenses  decreased from $77,021 to $75,603 for the
quarter and from $239,826 to $233,706 for the nine-month period.

The  Company's  net  income for the third  quarter  (fiscal  2003) was  $203,516
compared to a net loss of $20,941 for the third  fiscal  quarter  2002.  For the
nine-month  period  (fiscal  2003) the  Company  posted net  income of  $162,384
compared to a net loss of $47,993 for fiscal 2002.

Liquidity and Capital Resources

During the nine-months of fiscal 2003 cash provided by operating  activities was
$742,688 while investing  activities required $4,504. Net cash used in financing
activities was $654,158 as the Company paid off its bank line of credit.

Cash used in operating activities for fiscal 2002 was $178,830. Cash provided by
operating activities for fiscal 2003 was $742,688.


                           PART II. OTHER INFORMATION

Item 1 - Legal Proceedings

          The Company  may become or is subject to  investigations,  claims,  or
          lawsuits  ensuing out of the conduct of its business,  including those
          related to environmental  safety and health,  commercial  transactions
          etc.  The Company is currently  not aware of any such items,  which it
          believes  could  have a  material  adverse  affect  on  its  financial
          position.

Item 2 - Changes in Securities

         None.

<PAGE>

Item 3 - Defaults Upon Senior Securities

         None.

Item 4 - Submission of Matters to a Vote of Security Holders

         None.

Item 5 - Other Information

         None.

Item 6 - Exhibits and Reports on Form 8-K

         (a) There are no exhibits with this report.

         (b) The registrant did not file any reports on Form 8-K during the
fiscal quarter ended June 30, 2003.


                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.


                                             Pioneer Oil and Gas




Dated:   August 12, 2003                   /s/ Don J. Colton
                                           ---------------------
                                           President and Chief Executive Officer



<PAGE>












                      CERTIFICATION PURSUANT TO SECTION 302
                        OF THE SARBANES-OXLEY ACT OF 2002

I, Don J. Colton,certify that:

1. I have reviewed this quarterly report on Form 10-QSB of Pioneer Oil and Gas.

2. Based on my  knowledge,  this  quarterly  report  does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not misleading with respect to the period covered by this report.

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included  in this annual  report,  fairly  present in all  material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this annual report.

4. I am responsible for  establishing  and maintaining  disclosure  controls and
procedures  (as  defined  in  Exchange  Act Rules  13a-14  and  15d-14)  for the
registrant and have:

     a) designed such disclosure controls and procedures to ensure that material
     information   relating  to  the  registrant,   including  its  consolidated
     subsidiaries,  is  made  known  to  us by  others  within  those  entities,
     particularly  during  the period in which  this  quarterly  report is being
     prepared;

     b) evaluated the effectiveness of the registrant's  disclosure controls and
     procedures  as of a date  within 90 days prior to the  filing  date of this
     annual report (the Evaluation Date); and

     c) presented in this annual report our conclusions  about the effectiveness
     of the disclosure controls and procedures based on our evaluation as of the
     Evaluation Date;

5. I have disclosed,  based on the most recent  evaluation,  to the registrant's
auditors and the audit committee of registrant's  board of directors (or persons
performing the equivalent functions):

     a) all  significant  deficiencies  in the design or  operation  of internal
     controls which could adversely affect the  registrant's  ability to record,
     process,  summarize and report  financial data and have  identified for the
     registrant's auditors any material weaknesses in internal controls; and

     b) any fraud,  whether or not material,  that involves  management or other
     employees  who  have  a  significant  role  in  the  registrant's  internal
     controls.

     6. I have  indicated  in this  annual  report  whether  or not  there  were
     significant  changes in internal  controls or in other  factors  that could
     significantly  affect internal controls  subsequent to the date of the most
     recent  evaluation,   including  any  corrective  actions  with  regard  to
     significant deficiencies and material weaknesses.

DATE: August 12, 2003


                            /s/ Don J. Colton
                            ------------------------
                            Don J. Colton, President





<PAGE>





                            CERTIFICATION PURSUANT TO
                             18 U.S.C. SECTION 1350,
                             AS ADOPTED PURSUANT TO
                  SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In  connection  with the filing of the  Quarterly  Report of Pioneer Oil and Gas
(the  "Company")  on Form  10-QSB  for the  period  ended  June  30,  2003  (the
"Report"),  I, Don J. Colton,  Chief Executive Officer of the Company,  certify,
pursuant  to 18  U.S.C.  ss.  1350,  as  adopted  pursuant  to  ss.  906  of the
Sarbanes-Oxley  Act of  2002,  that:

(i) The Report fully  complies  with the  requirements  of section  13(a) of the
Securities Exchange Act of 1934; and

(ii) The information  contained in the Report fairly  presents,  in all material
respects, the financial condition and results of operations of the Company.

/s/ Don J. Colton
-------------------------
Don J. Colton
Chief Executive Officer
August 12, 2003