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 December 31, 2002

                                       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 December 31, 2002, was 7,961,618.




<PAGE>


                          Part I. FINANCIAL INFORMATION

Item 1.  Financial  Statements  for First  Fiscal  Quarter  2003  Period  Ending
December 31, 2002.



<PAGE>
<TABLE>
<CAPTION>



                               PIONEER OIL AND GAS
                                  Balance Sheet
                                  December 31,
                                   (unaudited)

       Assets                                                                       2002
<S>                                                                          <C>

Current assets:
       Cash                                                                  $   139,073
       Accounts receivable                                                       102,164
       Resale leases, at lower of cost or market                                 470,396
                                                                              ----------

                  Total current assets                                           711,633

Property and equipment - net (successful efforts method)                         875,853
Other assets                                                                       2,000
                                                                              ----------

                                                                             $ 1,589,486


       Liabilities and Stockholders' Equity

Current liabilities:
       Accounts payable                                                      $   116,152
         Accrued expenses                                                         23,412
       Line of Credit                                                            654,158
                                                                              ----------


                  Total current liabilities                                      793,722
                                                                                --------

Commitments and contingencies                                                          -

Stockholders' equity:
       Common stock, par value $.001 per share, authorized
         50,000,000 shares: 7,961,618 shares issued and
         outstanding                                                               7,961
       Additional paid-in capital                                              2,495,292
       Stock subscription receivable                                           (258,219)
       Accumulated deficit                                                   (1,413,931)
       Year to date income (loss)                                               (35,339)
                                                                              ----------

                  Total stockholders' equity                                     795,764
                                                                              ----------

                                                                             $ 1,589,486

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




                               PIONEER OIL AND GAS
                             Statement of Operations

                    First Fiscal Quarter Ending December 31,
                                   (unaudited)


                                                                                    2002             2001
                                                                                    ----             ----
<S>                                                                          <C>              <C>
Revenue:
       Oil and gas sales                                                     $   196,321      $   132,279
       Royalty Revenue                                                            20,831          134,179
       Operational reimbursements                                                    500              500
       Project and lease sales income, net                                        33,838                0
                                                                              ----------       ----------

                                                                                 251,490          266,958
                                                                              ----------       ----------


Costs and expenses:
       Cost of operations                                                        111,416           45,311
       General and administrative expenses                                        66,402           74,098
       Exploration costs                                                          48,382           45,439
       Lease rentals                                                              31,124           20,844
       Depreciation, depletion and amortization                                   21,900           25,930
                                                                              ----------       ----------

                                                                                 279,224          211,622
                                                                              ----------       ----------

                  Income (loss) from operations                                  (27,734)          55,336
                                                                              ----------       ----------

Other income (expense):
       Interest expense                                                           (9,159)          (2,615)
       Other (expense) income                                                      1,554            5,989
                                                                               ---------            -----

                                                                                  (7,605)           3,374
                                                                               ---------            -----

                  Income (loss) before provision
                  for income taxes                                               (35,339)          58,710
       Provision for income taxes                                                      -                -
                                                                              ----------       ----------

                  Net Income (loss)                                          $   (35,339)     $    58,710
                                                                              ----------       ----------


Earnings (loss) per share - basic and diluted                                $      (.00)     $       .01
                                                                              ----------       ----------

Weighted average common shares - basic and diluted                             7,961,000        7,972,000
                                                                              ----------       ----------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>





                               PIONEER OIL AND GAS
                             Statement of Cash Flows
                    First Fiscal Quarter Ending December 31,
                                   (unaudited)

                                                                                    2002            2001
                                                                                    ----            -----
<S>                                                                          <C>              <C>
Cash flows from operating activities:
       Net income (loss)                                                     $   (35,339)     $    58,710
       Adjustments to reconcile net income (loss) to net cash
         provided by (used in) operating activities:
           Depreciation, depletion and amortization, net                          28,192           25,930
           (Increase) decrease in:
               Accounts receivable                                                19,009          (79,158)
               Resale leases                                                      57,412          (18,048)
               Other assets                                                            -                -
           Increase (decrease) in:
               Accounts payable                                                  (12,275)         (67,241)
               Accrued expenses                                                   (7,540)          (2,374)
                                                                              ----------       ----------

                  Net cash provided by (used in)
                  operating activities                                            49,459          (82,181)
                                                                              ----------       ----------

Cash flows from investing activities:
       Proceeds from sale of property                                                  -                -
       Acquisition of property and equipment                                       (844)         (61,604)
                                                                              ----------       ----------

                  Net cash used in investing activities                            (844)         (61,604)
                                                                              ----------       ----------

Cash flow from financing activities:
       Increase in Credit Line                                                         -          250,000
       Acquisition of Treasury Stock                                                   -           (2,620)
                                                                                  ------         --------
       Net cash provided by financing activities                                       -          247,380
                                                                              ----------       ----------

                  Net increase (decrease) in cash                                 48,615          103,595

Cash, beginning of quarter                                                        90,458            3,563
                                                                              ----------       ----------
Cash, end of quarter                                                         $   139,073       $  107,158
                                                                              ----------       ----------
</TABLE>
<PAGE>







                               PIONEER OIL AND GAS
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                  First Fiscal Quarter Ending December 31, 2002
                                   (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  period ended December 31, 2002
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 December  31, 2002 and the results of  operations  and cash flows
for the three month  period  ended  December  31, 2002 and 2001.  The results of
operations  for the three  months ended  December  31, 2002 are not  necessarily
indicative of the result to be expected for the entire year.

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

<PAGE>



 Item 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
                                 OF OPERATIONS
                        (Period Ending December 31, 2002)
                            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 10SB.  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 first fiscal quarter  decreased 6 percent from $266,958 in
fiscal 2002 to $251,490 in fiscal 2003.  The  decrease in revenue was  primarily
due to a decrease in royalty revenue of $113,348. In the first quarter of fiscal
2002 the Company booked prior period  royalty  revenue of $100,000 on the Hunter
Mesa and Gar Mesa properties for production that had been in suspense.

Oil and gas sales  increased  from $132,279  (fiscal  2002) to $196,321  (fiscal
2003) in the first  quarter.  This  increase  was due to higher  oil  prices and
improved oil production.  Average oil prices for the quarter  increased over the
first quarter of fiscal 2002 from $16.54 bbl to $23.85 bbl. However,  gas prices
decreased from $2.44 MCF to $2.01 MCF. For the quarter oil production  increased
19 percent due to reduced  downtime  for our operated  oil  properties.  Royalty
revenues  (primarily gas) decreased from $134,179 to $20,831.  As mentioned,  in
the first quarter of fiscal 2002 the Company booked prior period royalty revenue
of $100,000 on the Hunter Mesa and Gar Mesa  properties for production  that had
been in suspense.

<PAGE>

Project and lease sales income for the quarter increased from $0 to $33,838.

Costs of operations  increased  from $45,311  (2002) to $111,416  (2003) for the
quarter due to increased  payments to joint  venture  partners and  workovers on
some of the operated properties.

General and administrative expenses decreased from $74,098 to $66,402.

The Company's net income for the first quarter decreased from $58,710 for fiscal
2002 to a loss of $35,339 for fiscal 2003. This loss was primarily due to higher
operations  expenses,  increased  lease  rentals  as the  Company  substantially
increased its resale lease position during the year, and lower royalty revenue.

Liquidity and Capital Resources

During  the  first  quarter  of  fiscal  2003 net  cash  provided  by  operating
activities  was  $49,459  while  investing  activities  used  $844 in  cash.  No
financing activities occurred during the quarter. Cash at the end of the quarter
increased from $107,158 to $139,073.

<PAGE>



                           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.

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 December 31, 2002.


                                   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:   February 10, 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: February 10, 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 Annual Report of Pioneer Oil and Gas (the
"Company") on Form 10-QSB for the period ended December 31, 2002 (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
February 10, 2003