UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                Quarterly Report Pursuant to Section 13 or 15(d)
                   of the Securities and Exchange Act of 1934

                  For the quarterly period ended March 31, 2002

Commission File Number: 0-32507

                             Energy Producers, Inc.
                             ----------------------
             (Exact name of registrant as specified in its charter.)

            Nevada                                       88-0345961
            ------                                       ----------
(State or other jurisdiction of                      (I.R.S. Employer
incorporation or organization)                      Identification No.)

7944 E. Beck Lane, Suite 200
Scottsdale, Arizona                                           71764
(Address of principal executive offices)                    (Zip Code)

Registrant's telephone number, including area code: (480) 778-5424

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 [ }

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock as of the latest practical date:

11,791,812 Shares of common stock issued and outstanding

<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)




                                  CONSOLIDATED
                              FINANCIAL STATEMENTS

                       FOR THE PERIOD ENDED MARCH 31, 2002



<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)
                                 (Consolidated)


                              FINANCIAL STATEMENTS

             For the Periods Ended March 31, 2002 and March 31, 2001

<TABLE>
Financial Statements
<CAPTION>

<S>                                                                          <C>
Balance Sheets - Assets.....................................................  F3

Liabilities and Stockholders' Equity........................................  F4

Statements of Operations....................................................  F5

Statement of Stockholders' Equity...........................................  F6

Statements of Cash Flows....................................................  F7

Notes to Consolidated Financial Statements..................................  F8

</TABLE>

                                       F2

<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)
                                 (Consolidated)
                                    Unaudited

                                 BALANCE SHEETS

                   As of March 31, 2002 and December 31, 2001


<TABLE>
<CAPTION>
                                    ASSETS

                                                March 31,                       December 31,
                                                2002                            2001
                                                ----                            ----
<S>                                             <C>                             <C>
Current Assets
Cash                                            $   12,882                      $     24,803
Accounts Receivable                                 26,570                            15,907
Inventory                                           50,507                            50,507
Notes and other receivables                          2,500                             2,500
                                                ----------                        ----------

         Total Current Assets                       92,459                            93,717
                                                  --------                          --------

Property and Equipment:
Land                                                 9,000                             9,000
Building/Improvements                               47,184                            47,184
Equipment                                           86,747                            92,247
  Less:  accumulated depreciation                 (101,706)                         (106,717)
                                                  ---------                         ---------
     Net Property and Equipment                     41,225                            41,714
                                                 ---------                          --------

Oil and Gas Leases:                              1,340,428                         1,340,428
  Less:  accumulated amortization                   (3,846)                           (3,402)
                                               ------------                       -----------
     Net Oil and Gas Properties                  1,336,582                         1,337,026
                                                 ---------                         ---------

Total Net Properties and Equipment               1,377,807                         1,378,740
                                                 ---------                         ---------

         Total Assets                           $1,470,266                      $  1,472,457
                                                ==========                        ==========

</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                       F3

<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)
                                 (Consolidated)
                                   (Unaudited)

                                 BALANCE SHEETS

                   As of March 31, 2002 and December 31, 2001

<TABLE>
<CAPTION>
                      LIABILITIES AND STOCKHOLDERS' EQUITY

                                            March 31,                          December 31,
                                            2002                               2001
                                            ----                               ----
<S>                                         <C>                                <C>
Current Liabilities:
Accounts payable                            $    48,752                        $     53,489
Taxes payable                                       498                                 498
Notes payable                                   328,100                             389,776
Accrued interest                                 48,026                              38,536
                                               --------                             -------

     Total Current Liabilities                  425,376                             482,299
                                               --------                             -------

Long-Term Liabilities:
Notes payable                                   338,982                             400,164
Due to shareholders                             856,853                             673,454
                                               --------                             -------

     Total Long-term Liabilities              1,195,835                           1,073,618
                                              ---------                           ---------

         Total Liabilities                    1,621,211                           1,555,917
                                              ---------                           ---------

Stockholders' Equity:
Common stock:
  Authorized 200,000,000
  shares at $0.001 par value.
  Issued and outstanding at
  March 31, 2002 11,791,812
  and 10,996,812 at
  December 31, 2001                              11,792                              11,742

Preferred stock:
  Authorized 50,000,000
  shares at $0.001 par value.
  Issued and outstanding:  None.

Paid in capital                                 694,745                             684,795
Accumulated deficit                            (857,482)                           (779,997)
                                               ---------                           ---------

         Total Stockholders' Equity            (150,945)                            (83,460)
                                               ---------                            --------
         Total Liabilities and
           Stockholders' Equity             $ 1,470,266                        $  1,472,457
                                              =========                           =========

</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                       F4

<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)
                                 (Consolidated)
                                   (Unaudited)

                             STATEMENT OF OPERATIONS

<TABLE>
<CAPTION>
                                             Three Months Ended                 Three Months Ended
                                             March 31,                          March 31,
                                             2002                               2001
                                             ----                               ----
<S>                                          <C>                                <C>
Revenues:
  Oil Revenues                               $     57,802                       $      112,316
  Cost of Sales                                   (22,268)                             (15,888)
                                                  -------                             -----------
     Net Oil Revenues                              35,534                               96,428
                                                  -------                             ----------

  Subsidiary Sales:                                 3,083                                5,774
  Cost of Goods Sold                               (1,524)                              (1,598)
                                                   -------                            ----------
     Net Subsidiary Sales                           1,559                                4,176
                                                   -------                            ----------

Total Net Revenues                                 37,093                              100,604

Operating Expenses:
  Depreciation and Amortization                      (933)                                (802)
  Selling, General and Administrative             (90,921)                            (122,782)
                                                  ---------                           ---------

     Total Operating Expenses                     (91,854)                            (123,584)
                                                  ---------                           ---------

     Gain (Loss) from operations                  (54,761)                             (22,980)
                                                  ---------                           ----------

Other Income (Expense):
  Sale of assets                                    5,500                                    -
  Provision for federal income tax                     -0-                                  -0-
  Interest Expense                                (28,224)                             (17,962)
                                                  --------                            ---------

     Total Other Income (Expense)                 (22,724)                             (17,962)
                                                 ---------                             --------

Income (Loss) before provision for
   income taxes                                   (77,485)                             (40,942)
Provision for income taxes                             -0-                                  -0-
                                                  --------                            ---------

Net Income (Loss)                            $    (77,485)                      $      (40,942)
                                                  ========                           ==========

Number of Outstanding Shares                   11,791,812                           10,996,812

Earnings per share                                      -                                    -

</TABLE>

   The accompanying notes are an integral part of these financial statements.

                                       F5

<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)

                        STATEMENT OF STOCKHOLDERS' EQUITY
           From October 4, 1995 (date of inception) to March 31, 2002


<TABLE>
<CAPTION>
                                                                                      Accumulated
                                                Common Stock            Paid in       Deficit During
                                             Shares        Amount       Capital       Development       Totals
                                            -------        ------       -------       ------------      ------
<S>                                         <C>            <C>          <C>           <C>               <C>
Shares issued at inception
  to initial shareholders                     1,250,000      1,250                                          1,250
Capital contributed by shareholder                                         71,920                          71,920
Net (loss) for the year 1995                                                             (31,096)         (31,096)
        Balance December 31, 1995             1,250,000      1,250         71,920        (31,096)         (42,074)

Capital contributed by shareholder                                        290,087                         290,087

Net (loss) for the year 1996                                                            (332,088)        (332,088)
Balance December 31, 1996                     1,250,000      1,250        362,007       (363,184)              73

Capital contributed by shareholder                                         51,046                          51,046

Net (loss) for the year 1997                                                             (51,046)         (51,046)
Balance December 31, 1997                     1,250,000      1,250        413,053       (414,230)              73

Capital contributed by shareholder                                         71,913                          71,913

Net (loss) for the year 1998                                                             (71,986)         (71,986)
Balance December 31, 1998                     1,250,000      1,250        484,966       (486,216)              -0-

Stock surrendered by shareholder
  and retired to treasury                      (189,023)      (189)           189

Issuance of stock for reverse
 acquisition of Energy Producers
 Group, Inc.                                  9,820,835      9,821        114,108                         123,929

Capital contributed by shareholder                                         27,325                          27,325
Net (loss) for the year 1999                                                            (330,323)        (330,323)
Balance December 31, 1999                    10,881,812     10,882        626,588       (816,539)        (179,069)

Stock issued as consideration for
  Loans and other services                       10,000         10          1,240                           1,250
Net gain for the year 2000                                                                44,817           44,817
Balance December 31, 2000                    10,891,812     10,892        627,828       (771,722)        (133,002)

Capital contributed by shareholders             105,000        105         13,125                          13,230
Stock issued as consideration for loans
  and other services                            745,000        745         43,842                          44,587
Net (loss) for the year 2001                                                              (8,275)          (8,275)
Balance December 31, 2001                    11,741,812     11,742        684,795       (779,997)         (83,460)

Stock issued as consideration for
  loans and other services                       50,000         50          9,950                          10,000
Net loss for the quarter ended                                                           (77,485)         (77,485)
March 31, 2002                               11,796,812     11,792        694,745       (857,482)        (150,945)
                                             ==========     ======        =======       =========        =========

</TABLE>


   The accompanying notes are an integral part of these financial statements.

                                       F6

<PAGE>

                             ENERGY PRODUCERS, INC.
                   (formerly Sterling Market Positions, Inc.)
                                 (Consolidated)

                             STATEMENT OF CASH FLOWS
            For the Quarters Ended March 31, 2002 and March 31, 2001

<TABLE>
<CAPTION>
                                                              Three Months Ended          Three Months Ended
                                                              March 31,                   March 31,
                                                              2002                        2001
                                                              ----                        ----
<S>                                                           <C>                         <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net profit (loss)                                             $   (77,485)                $       (40,942)
Non-cash adjustments to reconcile net income
to net cash provided by operating activities
   Depreciation and amortization                                      933                             802
   Accumulated depreciation reduction
     in connection with disposal                                   (5,500)                              -
Change in assets and liabilities
   (Increase) decrease in accounts receivable                     (10,663)                         21,695
   (Increase) decrease in inventory                                     -                           1,894
    Increase (decrease) in accounts payable                        (4,239)                        (77,587)
    Increase (decrease) in accrued expenses                         8,992                          74,526
                                                                   ------                         -------
Net cash provided (used) by operating activities                  (87,962)                        (19,612)
                                                                  --------                        --------

CASH FLOWS FROM INVESTING ACTIVITIES:
  (Increase)decrease in notes receivable                                -                           3,200
  Proceeds from sale of assets                                      5,500                                      -
  Purchase of oil properties                                            -                         (15,003)
                                                                  -------                         --------
Net cash provided (used) by Investing Activities                    5,500                         (11,803)
                                                                  -------                         --------

CASH FLOWS FROM FINANCING ACTIVITIES:
(Increase) decrease in advances to shareholder                          -                          (1,859)
Proceeds from notes payable                                        83,000                          23,500
Repayment of notes payable                                       (205,858)                       (148,745)
Increase in shareholder notes payable                             183,399                         106,417
Stock issued                                                           50                             105
Contributed capital                                                 9,950                          13,125
                                                                ---------                        --------
Net cash provided (used) by Financing Activities                  (70,541)                         (7,457)
                                                                  --------                         -------


NET INCREASE (DECREASE) IN CASH                                   (11,921)                        (38,872)

CASH BALANCE BEGINNING OF PERIOD                                   24,803                          47,610
                                                                  -------                          ------

CASH BALANCE END OF PERIOD                                    $    12.882                 $         8,738
                                                                =========                         =======

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for during the year:
  Interest                                                         28,224                          17,962
  Income Taxes                                                         -0-                             -0-

</TABLE>

    The accompanying notes are an integral part of these financial statements

                                       F7

<PAGE>

                             ENERGY PRODUCERS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                       First Quarter Ended March 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 ending March 31, 2002 are
not  necessarily  indicative  of the results  that may be expected  for the year
ending  December  31,  2002.  For further  information,  refer to the  financial
statements  and footnotes  thereto  included in the Company's Form 10-SB amended
for the year ended December 31, 2001.

     (1) The  unaudited  financial  statements  include  the  accounts of Energy
Producers,  Inc. 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, 2002 and the results of operations  and cash
flows for the three-month period ended March 31, 2002 and December 31, 2001. The
results of operations  for the  three-month  period ended March 31, 2002 are not
necessarily indicative of the results to be expected for the entire year.

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

Item 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

                           Period Ended March 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  Form  10-SB and  Amendment.  Except  for the  historical  information
contained  herein,  the matters discussed in this 10-QSB contain forward looking
statements  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 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.

                                       F8

<PAGE>

Results of Operations
---------------------

Total revenues for the first  three-month  period ended March 31, 2002 decreased
from  $118,090 at March 31, 2001 to $60,885 at March 31,  2002.  The decrease in
revenue  for the  first  three-month  period  was due  primarily  to oil  prices
declining sharply and considerable down time on producing wells.

Costs of  operations  increased by 36% from $17,486 at March 31, 2001 to $23,792
at the end of the first  quarter,  2002,  due to the cost of  operating  the oil
leases, including well repairs.

General and administrative expenses decreased from $123,584 at March 31, 2001 to
$91,854 for the first quarter 2002. These decreases were due to cost containment
measures taken.

The Company's net loss for the first quarter 2001 was ($40,942)  compared to net
loss of  ($77,485)  at March  31,  2002 due to loss of  revenues  and  increased
operating costs.

Liquidity and Capital Resources
-------------------------------

During the first  three-months  of 2002,  cash used in operating  activities was
$87,962 and investing  activities  provided  $5,500  primarily  from the sale of
assets. Financing activities provided $70,541 in cash.

                           PART II. OTHER INFORMATION

Item 1 - Legal Proceedings

The Company is not a party in any litigation at the present time.

Item 2 - Changes in Securities

In January  2002,  the Board of the  Directors by its majority  vote  approved a
subscription to the Company's  restricted  common stock.  The shares were issued
pursuant to an exemption from  registration  as provided in Section 4 (2) of the
Securities Act of 1933.

<TABLE>
<CAPTION>
Name                       Date             Share Amount               Consideration             Estimated Value
----                       ----             ------------               -------------             ---------------
<S>                        <C>              <C>                        <C>                       <C>
Tim N. Martin              Jan 19, 02       50,000                     $10,000                   $10,000
and Audrey K.
Martin, Joint Tenants
with Right of Survivorship

</TABLE>

On January 19, 2002, the Board of Directors of the Company  approved and granted
by a majorities vote, a stock option for the purchase of shares of the Company's
common stock to a certain non-affiliated individual for providing capital to the
Company by subscribing to the Company's  common  restricted  stock. The exercise
price of the  options is equal to or in excess of the fair  market  value of the
stock on the date of grant. A schedule of the option is as follows:

<TABLE>
<CAPTION>
                           Number of                 % of Total                 Exercise or
                           Securities Underlying     Options Granted            Base Price       Expiration
Name                       Options Granted (#)       in First Quarter           ($/sh)           Date
----                       -------------------       ----------------           ------           ----
<S>                        <C>                       <C>                        <C>              <C>
Tim N. Martin              100,000                   100%                       $1.00            April 19, 2004
And Audrey K.
Martin, Joint Tenants
with Right of Survivorship

</TABLE>

(1) The following are excerpts from certain  provisions  contained in the option
agreement listed above, and include but not limited to the following:

                                        9

<PAGE>

The date of the agreement set forth in the table above is January 19, 2002;  the
vesting date for the option grants is ninety (90) days following the date of the
Agreement.  The  expiration  of each of the  agreement is two (2) years from the
date of vesting, valid until April 19, 2004.

The option shares all or part upon  exercise,  if any, must be paid for in cash.
The  option  shares  upon any  effective  registration  are  subject to and will
require a separate lock up agreement to be entered into by the optionee. Further
the option shares  contain leak out  provisions  that will limit sale to no more
than the then one sixth of 20% of the total trading volume for the month and the
trading volume shall be the average daily volume for the previous twenty trading
days.

If at any  time  after  the  date  of the  option  Agreement  and  prior  to the
expiration  of  all  Exercise   Period(s),   the  Company  proposes  to  file  a
registration  statement  to register  any Common  Stock (other than Common Stock
issued with respect to any  acquisition  or any  employee  stock  option,  stock
purchase or similar  plan) under the  Securities  Act of 1933,  as amended  (the
"Securities Act") for sale to the public in an underwritten offering, it will at
each such time give prior written  notice to the Optionee of its intention to do
so ("Notice of Intent")  and,  upon the  written  request of the  Optionee  made
within 30 calendar days after the receipt of any such notice (which request must
specify  the number of Option  Shares  Optionee  requests  to be included in the
registration),  the Company will use its best efforts to effect the registration
under the  Securities  Act of the Option  Shares  which the  Company has been so
requested to register, provided, however, that if the managing underwriter shall
certify in writing that  inclusion of all or any of the Option Shares would,  in
such managing  underwriter's  opinion,  materially  interfere  with the proposed
distribution and marketing of the Common Stock in respect of which  registration
was  originally to be effected  (such writing to state the basis of such opinion
and  the  maximum  number  of  shares  which  may be  distributed  without  such
interference),  then the Company may, upon written notice to the Optionee,  have
the right to exclude from such  registration  such number of Option Shares which
it would  otherwise be required to register  hereunder as is necessary to reduce
the total amount of Common Stock to be so registered to the maximum amount which
can be so marketed.

The shares were issued pursuant to an exception from registration as provided in
Section 4(2) of the Securities Act of 1933.

Item 3 - Defaults upon Senior Securities

None.

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

On April 15, 2002 by consent of the  Shareholders  representing  at least 51% of
the issued and outstanding  common voting stock of the company the following was
approved:

     (a) The removal of Patrick B. Hammons as a director of the Company.

     (b) And to amend the  Company  Bylaws to permit the Board of  Directors  to
amend the bylaws unless applicable statutes require stockholder approval.

Item 5 - Other Information

None.

Item 6 - Exhibits and Reports on Form 8-K

     (a) There are no exhibits with this report.


                                       10

<PAGE>

     (b) The  registrant  did not file any  reports  on Form  8-K  during  first
quarter ended March 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.

                                                          ENERGY PRODUCERS, INC.


                                                                /s/   Mel Herzog
                                                                ---   ----------
                                                                 By:  Mel Herzog
                                                         Title: Chairman and CEO

Date: May 2, 2002

                                       11