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 March 31, 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 March 31, 2003, was 7,961,618.





<PAGE>


                          Part I. FINANCIAL INFORMATION

           Item 1. Financial Statements for second Fiscal Quarter 2003
                          Period Ending march 31, 2003


<PAGE>
<TABLE>
<CAPTION>


                               PIONEER OIL AND GAS
                                  Balance Sheet
                                 March 31, 2003
                                   (unaudited)

       Assets
<S>                                                                          <C>
Current assets:
       Cash                                                                  $   105,046
       Accounts receivable                                                       140,128
       Resale leases, at lower of cost or market                                 487,295
                                                                                --------

                  Total current assets                                           732,469

Property and equipment - net (successful efforts method)                         843,797
Other assets                                                                       2,000
                                                                                --------

                                                                             $ 1,578,266


       Liabilities and Stockholders' Equity

Current liabilities:
       Accounts payable                                                      $    97,543
       Accrued expenses                                                           23,642
       Line of Credit                                                            654,158
                                                                                --------


                  Total current liabilities                                      775,343
                                                                                --------

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                                            (245,267)
       Accumulated deficit                                                    (1,413,931)
       Year to date income (loss)                                                (41,132)
                                                                                --------

                  Total stockholders' equity                                     802,923
                                                                                --------

                                                                             $ 1,578,266

</TABLE>

See accompanying notes to financial statements

<PAGE>
<TABLE>
<CAPTION>


                               PIONEER OIL AND GAS
                             Statement of Operations

                      For the Three Months Ended March 31,
                                   (unaudited)


                                                                                    2003             2002
                                                                                --------         --------
<S>                                                                          <C>              <C>
Revenue:
       Oil and gas sales                                                     $   254,114      $   158,831
       Royalty Revenue                                                            97,516           57,963
       Operational reimbursements                                                  1,500            3,336
       Project and lease sales income                                                  -                -
                                                                                --------         --------

                                                                                 353,130          220,130
                                                                                --------         --------


Costs and expenses:
       Cost of operations                                                        145,107          129,359
       General and administrative expenses                                        91,674           86,678
       Exploration costs                                                          92,809           45,144
       Lease rentals                                                               7,440            7,475
       Depreciation, depletion and amortization                                   21,831           26,090
                                                                                --------         --------

                                                                                 358,861          294,746
                                                                                --------         --------

                  Income (loss) from operations                                   (5,731)         (74,616)
                                                                                --------         --------

Other income (expense):
       Interest expense                                                           (8,225)          (7,445)
       Other (expense) income                                                      8,163           (3,554)
                                                                                --------         --------

                                                                                     (62)         (10,999)
                                                                                --------         --------

                  Income (loss) before provision
                  for income taxes                                                (5,793)         (85,615)
       Provision for income taxes                                                      -                -
                                                                                --------         --------

                  Net Income (loss)                                          $    (5,793)     $   (85,615)
                                                                                --------         --------


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

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


</TABLE>

See accompanying notes to financial statements
<PAGE>
<TABLE>
<CAPTION>



                               PIONEER OIL AND GAS
                             Statement of Operations

                        First Six Months Ended March 31,
                                   (unaudited)


                                                                                    2003             2002
                                                                                --------         --------
<S>                                                                          <C>              <C>
Revenue:
       Oil and gas sales                                                      $  455,480      $   292,553
       Royalty Revenue                                                           113,302          190,699
       Operational reimbursements                                                  3,500            9,096
       Project and lease sales income                                             33,838                -
                                                                                --------         --------

                                                                                 606,120          492,348
                                                                                --------         --------


Costs and expenses:
       Cost of operations                                                        256,523          174,671
       General and administrative expenses                                       158,102          160,776
       Exploration costs                                                          93,967           90,583
       Lease rentals                                                              38,564           28,319
       Depreciation, depletion and amortization                                   90,929           52,020
                                                                                --------         --------

                                                                                 638,085          506,369
                                                                                --------         --------

                  Income (loss) from operations                                  (31,965)         (14,021)
                                                                                --------         --------

Other income (expense):
       Interest expense                                                          (17,384)         (10,059)
       Other (expense) income                                                      8,217           (2,826)
                                                                                --------         --------

                                                                                  (9,167)         (12,885)
                                                                                --------         --------

                  Income (loss) before provision
                  for income taxes                                               (41,132)         (26,905)
       Provision for income taxes                                                      -            -
                                                                                --------         --------

                  Net Income (Loss)                                          $   (41,132)     $   (26,905)
                                                                                --------         --------


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

Weighted average common shares - basic and diluted                             7,962,000        7,967,000
                                                                               ---------        ---------

</TABLE>

See accompanying notes to financial statements
<PAGE>
<TABLE>
<CAPTION>


                               PIONEER OIL AND GAS
                             Statement of Cash Flows
                       For the Six Months Ended March 31,
                                   (unaudited)
                                                                                    2003             2002
                                                                                --------         --------
<S>                                                                          <C>              <C>
Cash flows from operating activities:
       Net income (loss)                                                     $   (41,132)     $   (26,905)
       Adjustments to reconcile net income to net cash
         provided by (used in) operating activities:
           Depreciation, depletion and amortization, net                          90,295           52,020
           Employee benefit plan expense                                          20,698           13,799
           Interest Income                                                        (7,746)          (8,094)
           (Increase) decrease in:
               Accounts receivable                                               (18,955)         (71,493)
               Resale leases                                                      40,513          (86,443)
               Other assets                                                            -           (2,050)
           Increase (decrease) in:
               Accounts payable                                                  (30,884)         (83,667)
               Accrued expenses                                                   (7,310)          (2,143)
                                                                                --------         --------

                  Net cash provided by (used in)
                  operating activities                                            45,479         (214,976)
                                                                                --------         --------

Cash flows from investing activities:
       Proceeds from sale of property                                                  -                -
       Acquisition of property and equipment                                     (30,891)         (88,561)

                  Net cash used in investing activities                          (30,891)         (88,561)
                                                                                --------         --------

Cash flow from financing activities:
       Increase in Credit Line                                                         -          384,158
       Acquisition of Treasury Stock                                                   -           (2,620)
                                                                                  ------         --------
       Net cash provided by financing activities                                       -          381,538
                                                                                --------         --------

                  Net increase (decrease) in cash                                 14,588           78,001

Cash, beginning of period                                                         90,458            3,563
                                                                                --------         --------
Cash, end of period                                                          $   105,046      $    81,564
                                                                                --------         --------
</TABLE>

See accompanying notes to financial statements


<PAGE>



                               PIONEER OIL AND GAS
                         NOTES TO CONSOLIDATED FINANCIAL
                         STATEMENTS Third Fiscal Quarter
                              Ending March 31, 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 six-month  periods ending
March  31,  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 March 31, 2003 and the results of operations  and
     cash flows for the three-month  and six-month  periods ended March 31, 2003
     and 2002.  The results of  operations  for the  three-month  and  six-month
     periods ended March 31, 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 six months  ended  March 31,  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 March 31, 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 second fiscal  quarter  increased 60 percent from $220,130
in fiscal 2002 to $353,130 in fiscal 2003.  For the  six-month  period  revenues
increased 23 percent from $492,348 to $606,120.  The increase in revenue for the
six-month period was due to an increase in oil and gas sales and royalty revenue
of 18 percent  and  project  and lease  sales  income of $33,838 for fiscal 2003
versus  none for  2002.  The  Company  is  currently  marketing  a  37,000  acre
overpressured  gas  project  in the  Uinta  Basin of Utah and  hopes to  realize
additional revenue from this project during fiscal 2003.

Total oil and gas sales (including  royalty revenue)  increased from $158,831 to
$254,114 in the second  quarter and from  $292,553 to $455,480 for the six-month
period. These increases were due primarily to increased oil prices and increased
gas production.  Average oil prices for the quarter increased from $19.13 bbl to
$27.76 bbl while gas prices  decreased from $4.64 MCF to $3.58 MCF.  Natural gas
production  increased 147 percent for the quarter due to increased production on
our Hunter Mesa property. For the six-month period, average oil prices increased
from $17.89 bbl to $25.63 bbl while gas prices decreased from $3.38 to $2.97.

<PAGE>

Project and lease sales income for the six-month period increased from 0 in 2002
to $33,838 in 2003.  During the first  quarter the  Company  sold its North Blue
Goose  prospect in Carbon  County,  Wyoming.  The company is also  continuing to
market  several  other  projects  including  our Uinta Basin  overpressured  gas
project.

Costs of  operations  increased  from  $129,359 to $145,107  for the quarter and
increased  from $174,671 to $256,523 for the six-month  period  primarily due to
higher  payments to working  interest  partners  due to higher  product  prices.
Depreciation,  depletion and amortization  increased from $52,020 to $90,929 due
primarily to the costs of a dry hole in our Texas exploration program ($47,198).
At least  two  other  wells are  planned  in this  program  and we  believe  the
information  from the first well will help us better  interpret  the 3-D seismic
over the project area.

General and  administrative  expenses  increased from $86,678 to $91,674 for the
quarter and decreased from $160,776 to $158,102 for the six-month period.

The Company's net loss for the second quarter  (fiscal 2003) was $5,793 compared
to a net loss of $85,615 for the second fiscal  quarter 2002.  For the six-month
period (fiscal 2003) the Company posted a net loss of $41,132  compared to a net
loss of $26,905 for fiscal 2002.

Liquidity and Capital Resources

During the  six-months of fiscal 2003 cash provided in operating  activities was
$45,479  and cash  used in  investing  activities  required  $30,891.  Financing
activities provided no cash.

Cash provided from  operating  activities  was primarily due to $40,513 from the
sale of the  North  Blue  Goose  Prospect  under  resale  leases.  Cash  used in
investing  activities  decreased from $88,561  (fiscal 2002) to $30,891  (fiscal
2003).

                           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 March 31, 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:   May 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: May 9, 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  March 31, 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
March 31, 2003