UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)
        [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                  For the quarterly period ended: June 30, 2005
                  --------------------------------------------

             [ ] TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE
                                  EXCHANGE ACT

            For the transition period from                to
                                          ----------------   -------------------
                         Commission file number 0-29543
             -------------------------------------------------------

                              Baseline Energy, Inc.
    ------------------------------------------------------------------------
                     (Exact name of small business issuer as
                            specified in its charter)

                                Nevada 86-0972778
                   (State or other jurisdiction (IRS Employer
              of incorporation or organization) Identification No.)

               2920 N. Swan Road, Suite 206, Tucson, Arizona 85712
                    (Address of principal executive offices)

                                 (520) 977-9654
                            Issuer's telephone number

                 (Former name, former address and former fiscal year, if changed
since last report.)


                APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
                   PROCEEDING DURING THE PRECEDING FIVE YEARS

         Check whether the registrant  filed all documents and reports  required
to be  filed  by  Section  12,  13 or  15(d)  of  the  Exchange  Act  after  the
distribution of securities under a plan confirmed by a court. Yes ----- No -----


<PAGE>





                      APPLICABLE ONLY TO CORPORATE ISSUERS

         State the number of shares  outstanding of each of the issuer's classes
of common equity,  as of the latest  practical  date:  August 16, 2005 8,700,000


         Transitional Small Business Disclosure Format (check one).
Yes      ;  No   X
    ----       -----


<PAGE>


                                     PART I

ITEM 1.  FINANCIAL STATEMENTS


                              BASELINE ENERGY, INC.
                          (A Development Stage Company)
                                 BALANCE SHEETS
                                   (Unaudited)
<TABLE>
<CAPTION>


                                                                                  June 30,          December 31,
                                                                                    2005                2004
                                                                             ------------------  ------------------
<S>                                                                          <C>                 <C>
Assets: Cash                                                                 $            1,243  $                -
                                                                             ==================  ==================

Liabilities:
   Accounts Payable                                                          $            9,850  $            7,350
   Accrued Interest                                                                         122                   -
   Note Payable-Related Party                                                            16,067                   -
                                                                             ------------------  ------------------
                                                                                         26,039               7,350
                                                                             ------------------  ------------------

Stockholders' Equity:
  Common Stock, Par value $.001
    Authorized 100,000,000 shares,
    Issued 8,700,000 Shares at June 30, 2005
    and 1,000,000 Shares at December 31, 2004                                             8,700               1,000
  Paid-In Capital                                                                         5,608               5,608
  Retained Deficit                                                                       (1,200)             (1,200)
  Deficit Accumulated During the
    Development Stage                                                                   (37,904)            (12,758)
                                                                             ------------------  ------------------

     Total Stockholders' Equity                                                         (24,796)             (7,350)
                                                                             ------------------  ------------------

     Total Liabilities and
       Stockholders' Equity                                                  $            1,243  $                -
                                                                             ==================  ==================

</TABLE>







                             See accompanying notes.


<PAGE>



                              BASELINE ENERGY, INC.
                          (A Development Stage Company)
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                     Cumulative
                                                                                                   since October
                                                                                                      20, 1999
                                                                                                     Inception
                       For the three months ended               For the six months ended                 of
                                June 30,                                June 30,                    development
                  -------------------------------------   -------------------------------------
                         2005               2004                2005                2004               stage
                  ------------------  -----------------   -----------------  ------------------  ------------------
<S>               <C>                 <C>                 <C>                <C>                 <C>
Revenues:         $                -  $               -   $               -  $                -  $                -

Expenses:                     25,146                  -              25,146                 300              37,904
                  ------------------  -----------------   -----------------  ------------------  ------------------

     Net Loss     $          (25,146) $               -   $         (25,146) $             (300) $          (37,904)
                  ==================  =================   =================  ==================  ==================

Basic &
Diluted loss
 per share        $                -  $               -   $               -  $                -
                  ==================  =================   =================  ==================

</TABLE>






















                             See accompanying notes.


<PAGE>



                              BASELINE ENERGY, INC.
                          (A Development Stage Company)
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                                     Cumulative
                                                                                                   since October
                                                                                                      20, 1999
                                                                For the six months ended            Inception of
                                                                        June 30,                    Development
                                                          -------------------------------------
                                                                2005                2004               Stage
                                                          -----------------  ------------------  ------------------
CASH FLOWS FROM OPERATING
ACTIVITIES:
<S>                                                       <C>                <C>                 <C>
Net Loss                                                  $         (25,146) $             (300) $          (37,904)
Increase (Decrease) in accounts payable                               2,500                 300               9,650
Increase (Decrease) in accrued interest                                 122
                                                          -----------------  ------------------  ------------------
  Net Cash Used in operating activities                             (22,524)                  -             (28,254)
                                                          -----------------  ------------------  ------------------

CASH FLOWS FROM INVESTING
ACTIVITIES:
Net cash provided by investing activities                                 -                   -                   -
                                                          -----------------  ------------------  ------------------

CASH FLOWS FROM FINANCING
ACTIVITIES:
Issuance of common stock                                              7,700
Proceeds from notes payable                                          16,067
Capital contributed by shareholder                                        -                   -               5,608
                                                          -----------------  ------------------  ------------------
Net Cash Provided by
  Financing Activities                                               23,767                   -               5,608
                                                          -----------------  ------------------  ------------------

Net (Decrease) Increase in
  Cash and Cash Equivalents                                           1,243                   -                   -
Cash and Cash Equivalents
  at Beginning of Period                                                  -                   -                   -
                                                          -----------------  ------------------  ------------------
Cash and Cash Equivalents
  at End of Period                                        $           1,243  $                -  $                -
                                                          =================  ==================  ==================

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for:
  Interest                                                $               -  $                -  $                -
  Franchise and income taxes                              $               -  $                -  $              500

SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING
ACTIVITIES: None
</TABLE>

                             See accompanying notes.


<PAGE>



                              BASELINE ENERGY, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
                 FOR THE SIX MONTHS ENDED JUNE 30, 2005 AND 2004
                                   (Unaudited)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         This  summary of  accounting  policies  for  Baseline  Energy,  Inc. (a
development stage company) is presented to assist in understanding the Company's
financial  statements.  The accounting  policies  conform to generally  accepted
accounting  principles and have been consistently  applied in the preparation of
the financial statements.

Going Concern

         The accompanying  financial statements have been prepared in conformity
with  accounting  principles  generally  accepted  in the United  States,  which
contemplates the Company as a going concern.  However, the Company has sustained
substantial operating losses in recent years and has used substantial amounts of
working  capital in its operations.  Realization of the assets  reflected on the
accompanying balance sheet is dependent upon continued operations of the Company
which,  in turn, is dependent  upon the Company's  ability to meet its financing
requirements  and succeed in its future  operations.  Management  believes  that
actions  presently  being taken to revise the Company's  operating and financial
requirements  provide them with the opportunity for the Company to continue as a
going concern.

Interim Reporting

         The  unaudited  financial  statements  as of June 30,  2005 and for the
three and six month period then ended reflect, in the opinion of management, all
adjustments  (which  include  only normal  recurring  adjustments)  necessary to
fairly  state the  financial  position and results of  operations  for the three
months.  Operating results for interim periods are not necessarily indicative of
the results which can be expected for full years.

Organization and Basis of Presentation

         The Company was  incorporated  under the laws of the State of Nevada on
July 25, 1997.  The Company  ceased all operating  activities  during the period
from July 25, 1997 to October 20, 1999 and was considered dormant. Since October
20, 1999, the Company is in the development stage, and has not commenced planned
principal operations.









<PAGE>



                              BASELINE ENERGY, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED JUNE 30, 2005 AND 2004 (Continued)
                                   (Unaudited)

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(Continued)

Nature of Business

         The  Company has no  products  or  services  as of June 30,  2005.  The
Company was organized as a vehicle to seek merger or acquisition candidates. The
Company intends to acquire interests in various business opportunities, which in
the opinion of management will provide a profit to the Company.

Loss per Share

         Basic  earnings  (loss) per share has been  computed  by  dividing  the
income (loss) for the year applicable to the common stockholders by the weighted
average  number of common shares  outstanding  during the years.  The effects of
common stock equivalents are anti-dilutive and thus are not considered.

Cash and Cash Equivalents

         For purposes of the statement of cash flows, the Company  considers all
highly liquid debt instruments purchased with a maturity of three months or less
to be cash equivalents to the extent the funds are not being held for investment
purposes.

Pervasiveness of Estimates

         The  preparation of financial  statements in conformity  with generally
accepted  accounting  principles  required  management  to  make  estimates  and
assumptions  that  affect the  reported  amounts of assets and  liabilities  and
disclosure of  contingent  assets and  liabilities  at the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

Concentration of Credit Risk

         The  Company has no  significant  off-balance-sheet  concentrations  of
credit  risk such as foreign  exchange  contracts,  options  contracts  or other
foreign hedging arrangements.






<PAGE>



                              BASELINE ENERGY, INC.
                          (A Development Stage Company)
                          NOTES TO FINANCIAL STATEMENTS
           FOR THE SIX MONTHS ENDED JUNE 30, 2005 AND 2004 (Continued)
                                   (Unaudited)

NOTE 2 - INCOME TAXES

         As of June 30, 2005, the Company had a net operating loss  carryforward
for income tax reporting  purposes of  approximately  $39,000 that may be offset
against future taxable income through 2024. Current tax laws limit the amount of
loss  available to be offset  against  future  taxable income when a substantial
change in ownership  occurs.  Therefore,  the amount  available to offset future
taxable income may be limited. No tax benefit has been reported in the financial
statements,  because the Company  believes  there is a 50% or greater chance the
carryforwards will expire unused. Accordingly, the potential tax benefits of the
loss carryforwards are offset by a valuation allowance of the same amount.

NOTE 3 - DEVELOPMENT STAGE COMPANY

         The Company has not begun principal  operations and as is common with a
development  stage  company,  the Company has had  recurring  losses  during its
development stage.

NOTE 4 - COMMITMENTS

         As of June 30, 2005 all  activities of the Company have been  conducted
by corporate  officers from either their homes or business  offices.  Currently,
there  are no  outstanding  debts  owed by the  company  for  the  use of  these
facilities and there are no commitments for future use of the facilities.

NOTE 5 - COMMON STOCK

         During June, 2005 the Company issued  7,700,000  shares of common stock
for services  valued at $7,700 under the  provisions of Regulation D. The shares
are restricted under Rule 144.



<PAGE>


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

         This  Quarterly  Report  contains  certain  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,  which are
intended  to be covered  by the safe  harbors  created  thereby.  Investors  are
cautioned that all  forward-looking  statements  involve risks and  uncertainty,
including  without  limitation,  the  ability  of the  Company to  continue  its
expansion  strategy,  changes in costs of raw  materials,  labor,  and  employee
benefits,  as  well as  general  market  conditions,  competition  and  pricing.
Although   the   Company   believes   that  the   assumptions   underlying   the
forward-looking   statements  contained  herein  are  reasonable,   any  of  the
assumptions could be inaccurate,  and therefore,  there can be no assurance that
the  forward-looking  statements included in this Quarterly Report will prove to
be  accurate.  In  light  of  the  significant  uncertainties  inherent  in  the
forward-looking  statements  included herein,  the inclusion of such information
should not be regarded as a presentation by the Company or any other person that
the objectives and plans of the Company will be achieved.

PLAN OF OPERATION

         Baseline  Energy,  Inc. (the  "Company"),  formerly known as Green Oaks
Concepts,  is a Nevada  corporation  formed  in July  1997,  with its  principal
offices and operations center in Tucson, Arizona. Until May 2, 2005, the Company
was a shell company with no assets and no business  activities.  On May 2, 2005,
we adopted a new business direction.

BUSINESS STRATEGY
         The  Company is now a  development  state  company  with a focus in the
petroleum  industry,  particularly  oil and gas exploration and production.  The
Company's primary objective is to identify,  acquire and develop  underdeveloped
oil and gas  projects  in the  United  States.  The  Company  intends to acquire
working  interests,  royalty  interests and/or  producers.  The Company plans to
acquire  projects  following the due diligence  necessary to fully  evaluate the
projects  potential.  We will apply  appropriate  technologies  to  improve  the
reservoir characterization, reduce risk and uncertainty, and improve development
and production efficiency. We have significant relative flexibility in selecting
and structuring our  investments.  We will seek to structure our acquisitions so
as to take  into  account  the  uncertain  and  potentially  variable  financial
performance of projects.

RESULTS OF OPERATIONS

         The Company had no sales or sales  revenues  for the three months ended
June  30,  2005  or 2004  because  it is a shell  company  that  has not had any
business operations for the past three years.

         The Company had no costs of sales  revenues  for the three months ended
June  30,  2005  or 2004  because  it is a shell  company  that  has not had any
business  operations  for the past three  years.  The  Company  had  general and
administrative  expenses of $25,146 for the three  month  period  ended June 30,
2005 and $-0- for the same period in 2004.

CAPITAL RESOURCES AND LIQUIDITY

         At June 30, 2005,  the Company had total  current  assets of $1,243 and
total  assets of $1,243 as compared to $0 current  assets and $0 total assets at
December 31, 2004. The Company had a net working  capital  deficit of $24,796 at
June 30, 2005 and $7,350 at December 31, 2004.

         Net  stockholders'  deficit in the  Company  was $24,796 as of June 30,
2005 and $7,350 at December 31, 2004.

ITEM 3.  CONTROLS AND PROCEDURES

         The Company's Chief Executive  Officer and Chief Financial  Officer are
responsible for establishing and maintaining  disclosure controls and procedures
for the Company.

         (a) Evaluation of Disclosure Controls and Procedures

         As of the end of the period covered by this report, the Company carried
out an  evaluation,  under the  supervision  and with the  participation  of the
Company's management, including the Company's President, of the effectiveness of
the design and operation of the  Company's  disclosure  controls and  procedures
pursuant to Rule 13a-15 under the  Securities  Exchange Act of 1934,  as amended
(the  "Exchange  Act").  Based  upon the  evaluation,  the  Company's  President
concluded that, as of the end of the period, the Company's  disclosure  controls
and  procedures  were effective in timely  alerting him to material  information
relating to the Company  required to be included in the reports that the Company
files and submits pursuant to the Exchange Act.

         (b) Changes in Internal Controls

         Based on this evaluation as of June 30, 2005, there were no significant
changes in the Company's  internal  controls over financial  reporting or in any
other areas that could  significantly  affect the  Company's  internal  controls
subsequent to the date of his most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

                           PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

None.

ITEM 2.  CHANGES IN SECURITIES

None.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

None/Not Applicable.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

None/Not Applicable.

ITEM 5.  OTHER INFORMATION

None.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a) EXHIBITS

         The  following  documents  are filed  herewith or have been included as
exhibits to previous filings with the Commission and are incorporated  herein by
this reference:

         Exhibit No.       Exhibit

         *3       Articles of Incorporation

         *3.2     Bylaws

         *3.1     Amended Articles of Incorporation

         31       Certification  Pursuant to Section  302 of the  Sarbanes-Oxley
                  Act of 2002.

         32       Certification  Pursuant to Section  906 of the  Sarbanes-Oxley
                  Act of 2002.

(b) Reports on Form 8-K. On May 9, 2005,  the Company filed a Current  Report on
Form 8-K to report  under Item 5.02 that the Board of  Directors  appointed  new
officers and  directors:  Karen  Christensen  as President and Kevin Sherlock as
Secretary;  and the  following as Directors of the Company:  Karen  Christensen,
Robert Hadley,  Michael High,  Eric Kendle,  Kevin Sherlock and Daniel Hodges to
remain as Board  Chairman.  Michael  High and Eric  Kendle did not assume  their
positions on the board.


*        Incorporated  herein  by  reference  from  Registrant's  Form  10SB12G,
         Registration Statement, dated February 16, 2000.


                                   SIGNATURES

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


Baseline Energy, Inc.


/s/ Karen Christensen
Karen Christensen
President/CFO and Director

August 16, 2005