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 December 31, 2003

[ ]  Transition report under Section 13 or 15(d) of the Securities Exchange
     Act of 1934

        For the transition period from                to
                                       --------------    ---------------

                        Commission file number 033-15528


                            MONUMENT RESOURCES, INC.
         ---------------------------------------------------------------
        (Exact name of Small Business Issuer as Specified in its Charter)

           Colorado                                               84-1028449
 -----------------------------                                -----------------
(State or Other Jurisdiction of                              (I.R.S. Employer
 Incorporation or Organization)                              Identification No.)


           2050 South Oneida Street, Suite 106, Denver, Colorado 80224
           ----------------------------------------------------------
          (Address of Principal Executive Offices, Including Zip Code)

                                 (303) 692-9468
                 ----------------------------------------------
                (Issuer's Telephone Number, Including Area Code)


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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
                                -----       -----

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 4,569,000 shares of common stock were
outstanding at February 13, 2004.

Transitional Small Business Disclosure Format (Check One):

                             Yes          No  X
                                -----       -----

<PAGE>


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                                      INDEX

                                                                     Page Number
                                                                     -----------
PART I.            FINANCIAL INFORMATION

     Item 1.       Condensed Consolidated Balance Sheets as of              2
                   December 31, 2003 and September 30, 2003

                   Condensed Consolidated Statements of Operations          4
                   for the Three Months ended
                   December 31, 2003 and 2002

                   Condensed Consolidated Statements of Cash Flows          5
                   for the Three Months ended
                   December 31, 2003 and 2002

                   Notes to Consolidated Financial Statements               6

     Item 2.       Management's Discussion and Analysis of                 13
                   Financial Condition and Results of Operations

     Item 3.       Controls and Procedures                                 16

PART II.           OTHER INFORMATION

                   Signatures                                              18

                   Exhibits                                                19

                                       1

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Item 1. Financial Statements.


                       MONUMENT RESOURCES, INC. AND SUBSIDIARY
                        CONDENSED CONSOLIDATED BALANCE SHEETS

                                       ASSETS

                                                       December 31,     September 30,
                                                           2003             2003
                                                       (Unaudited)        (Audited)
                                                        ----------       ----------
<S>                                                     <C>              <C>
Current assets
         Cash and cash equivalents                      $   69,380       $  124,099
         Investment in securities, at market               571,902          578,138
         Account receivable                                 50,789           37,826
         Prepaid expenses                                   11,733           16,198
                                                        ----------       ----------

Total current assets                                       703,804          756,261
                                                        ----------       ----------

Mineral properties                                          33,706           33,706
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depletion                      363,448          332,283

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                        164,829          167,628
         Property and equipment, net of
           accumulated depreciation                         38,955           40,780
                                                        ----------       ----------

Net property and equipment                                 203,784          208,408

Investments in securities, at market                        33,194          17,918
                                                        ----------       ----------

Total assets                                            $1,337,936       $1,348,576
                                                        ==========       ==========


See Notes to Consolidated Financial Statements.

                                         2
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Item 1.  Financial Statements. (Continued)


                      MONUMENT RESOURCES, INC. AND SUBSIDIARY
                       CONDENSED CONSOLIDATED BALANCE SHEETS

LIABILITIES AND STOCKHOLDERS' EQUITY

                                                     December 31,     September 30,
                                                        2003             2003
                                                     (Unaudited)       (Audited)
                                                     -----------      -----------
<S>                                                  <C>              <C>
Current liabilities
         Accounts payable and accrued expenses       $    30,167      $    59,281
                                                     -----------      -----------

Asset retirement obligation                               31,343           31,343
                                                     -----------      -----------

Total liabilities                                         61,510           90,624
                                                     -----------      -----------

Stockholders' equity:
Preferred Stock, no par value, authorized
         1,000,000 shares; none issued                      --               --
Common Stock, no par value, authorized
         10,000,000 shares; 4,569,000 issued
         and outstanding on December 31, 2003
         and September 30, 2003                        3,148,018        3,148,018
Accumulated deficit                                   (1,904,383       (1,913,817)
Unrealized gain on investment in securities               32,791           23,751
                                                     -----------      -----------

Total stockholders' equity                             1,276,426        1,257,952
                                                     -----------      -----------

Total liabilities and stockholders' equity           $ 1,337,936      $ 1,348,576
                                                     ===========      ===========


See Notes to Consolidated Financial Statements.

                                        3
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Item 1.  Financial Statements. (Continued)


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)



                                                           Three Months Ended
                                                               December 31,
                                                            2003         2002
                                                         -----------------------

Revenue
         Oil and gas sales                               $   77,882   $   78,595
         Pipeline income                                     46,734       49,852
         Interest and other                                   6,385        3,377
         Gain on securities sale                              2,024         --
                                                         ----------   ----------

                  Total revenue                             133,025      131,824
                                                         ----------   ----------

Expenses
         Oil and gas operating expense                       12,114       20,857
         Pipeline operating expense                          37,052       31,777
         General and administrative                          64,700       57,910
         Depletion, depreciation and amortization             9,725       11,900
                                                         ----------   ----------

                  Total expenses                            123,591      122,444
                                                         ----------   ----------

Operating income                                              9,434        9,380
Legal settlement                                               --         68,740
                                                         ----------   ----------

Net income                                               $    9,434   $   78,120
                                                         ==========   ==========

Basic income per common share                            $     --     $      .02
                                                         ==========   ==========
Diluted income per common share                          $     --     $      .02
                                                         ==========   ==========
Weighted average number of shares outstanding             4,569,000    4,869,000
                                                         ==========   ==========

Diluted weighted average number of shares outstanding     4,866,620    5,006,720
                                                         ==========   ==========


See Notes to Consolidated Financial Statements.

                                       4

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Item 1.  Financial Statements. (Continued)

                         MONUMENT RESOURCES, INC. AND SUBSIDIARY
                     CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                       (UNAUDITED)



                                                                  Three Months Ended
                                                                     December 31,
                                                                   2003        2002
                                                                ----------------------
<S>                                                             <C>          <C>
Cash flows from operating activities:
Net income                                                      $   9,434    $  78,120
Adjustment to reconcile net income (loss) to net
   cash provided by operating activities:
         Depreciation, depletion and amortization                   9,725       11,900
         Gain on sale of securities                                (2,024)        --
Changes in operating assets and liabilities:
         Decrease in prepaid expense                                4,465        5,993
         (Increase) decrease in accounts
         receivable                                               (12,963)      40,333
         Increase (decrease) in accounts payable
         and accrued expense                                      (29,114)      21,276
                                                                ---------    ---------

Net cash flow provided (used) by operations                       (20,477)     157,622
                                                                ---------    ---------

Cash flows from investing activities:

Proceeds from sale of investment securities                         2,024         --
Additions to oil and gas properties                               (36,266)      (6,826)
Purchase of investment securities                                    --       (100,000)
                                                                ---------    ---------

Net cash flows (used) by
   investing activities                                           (34,242)    (106,826)
                                                                ---------    ---------

Net increase (decrease) in cash                                   (54,719)      50,796

Cash and cash equivalents at beginning of period                  124,099       54,064
                                                                ---------    ---------

Cash and cash equivalents at end of period                      $  69,380    $ 104,860
                                                                =========    =========


                        Schedule of Non-cash Investing Activities
                        -----------------------------------------

Increase (decrease) in unrealized gain
      on securities available for sale                          $   9,040    $ (29,555)
                                                                =========    =========


See Notes to Consolidated Financial Statements

                                           5
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Item 1.  Financial Statements. (Continued)



                     MONUMENT RESOURCES, INC. AND SUBSIDIARY

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1 -- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

THE COMPANY

     Monument Resources, Inc, (the "Company") was organized under the laws of
the State of Colorado on October 1, 1984. We are in the business of acquiring
and brokering mineral and oil and gas properties and exploring, developing, and
selling production from our oil and gas properties. Our mineral property is in
Montana. Our oil and gas properties are in Webb and Knox counties, Texas,
Leavenworth County, Kansas and Kimball County, Nebraska. We also operate a gas
pipeline in conjunction with our Leavenworth gas wells.

     We have a substantial investment in mineral and oil and gas properties. We
may not have sufficient capital to fully explore our mineral holdings or to
develop some of our oil and gas properties, which would require additional
investment. We have in the past relied on joint venture partners to supply most
of the funds needed to explore or develop our properties, and may also rely on
such partners for similar funding in the future. The ability to obtain outside
funding may be critical to our exploration and development efforts of some of
our properties. As a result of these factors, recovery of our investments in
these properties cannot be assured.

BASIS OF PRESENTATION

     The accompanying financial statements are unaudited. However, in our
opinion, the accompanying financial statements reflect all adjustments,
consisting of only normal recurring adjustments, necessary for fair
presentation. Interim results of operations are not necessarily indicative of
results for the full year. These financial statements should be read in
conjunction with our Annual Report on Form 10-KSB for the year ended September
30, 2003.

     Except for the historical information contained in this Form 10-QSB, this
Form contains forward-looking statements that involve risks and uncertainties.
Our actual results could differ materially from those discussed in this Report.
Factors that could cause or contribute to such differences include, but are not
limited to, those discussed in this Report and any documents incorporated herein
by reference, as well as the Annual Report on Form 10-KSB for the year ended
September 30, 2003.

CONSOLIDATION

     The accompanying condensed consolidated financial statements include the
accounts of our Company, and our wholly owned Kansas subsidiary, COG
Transmission Corporation. All inter-company transactions and balances have been
eliminated in consolidation.

                                       6

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Item 1.  Financial Statements. (Continued)

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

REVENUE RECOGNITION

     Sales of oil and gas production and pipeline income are recognized at the
time of delivery of the product to the purchaser.

EARNINGS PER SHARE

     We have adopted Statement of Financial Accounting Standards ("SFAS") No.
128, addressing earnings per share. SFAS No. 128 established the methodology of
calculating basic earnings per share and diluted earnings per share. The
calculations differ by adding any instruments convertible to common stock (such
as stock options, warrants, and convertible preferred stock) to weighted average
shares outstanding when computing diluted earnings per share.

     The following is a reconciliation of the numerators and denominators used
in the calculations of our basic and diluted earnings per share for the three
months ended:

                                                                   December 31,
                                  --------------------------------------------------------------------------
                                                   2003                                2002
                                                              Per                                    Per
                                     Net                     Share        Net                       Share
                                   Income       Shares       Amount       Income       Shares       Amount
                                 ----------   ----------   ----------   ----------   ----------   ----------
<S>                              <C>          <C>          <C>          <C>          <C>          <C>
Basic earnings per share:
     Net income (loss)
     and share amounts           $    9,434    4,569,000   $     --    $    78,120    4,869,000   $      .02

Dilutive securities:
     Stock options                     --        297,620         --           --        137,720         --
                                 ----------   ----------   ----------   ----------   ----------   ----------



Diluted earnings per share:
     Net income and
      assumed share conversion   $    9,434    4,866,620   $     --     $   78,120    5,006,720   $      .02
                                 ==========   ==========   ==========   ==========   ==========   ==========

                                                     7
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<PAGE>


Item 1.   Financial Statements. (Continued)

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

MINERAL PROPERTIES

     Costs of acquiring, exploring, and developing specific mineral properties
are capitalized on a property-by-property basis until the commercial viability
of each property is determined. When a property reaches the production stage,
the related capitalized costs will be amortized, using the units of production
method on the basis of periodic estimates of ore reserves. Proved and unproved
mining properties are periodically assessed for impairment of value and any
impairments are charged to operations at the time of impairment. Should a
property be sold or abandoned, its capitalized costs are charged to operations
and gain or loss recognized.

OIL AND GAS PROPERTIES

     We follow the successful efforts method of accounting for oil and gas
activities. Under this accounting method, costs associated with the acquisition,
drilling and equipping of successful exploratory and development wells are
capitalized. Geological and geophysical costs, delay rentals and drilling costs
of unsuccessful exploratory wells are charged to expense as incurred. Depletion
and depreciation of the capitalized costs for producing oil and gas properties
are provided by the unit-of-production method based on proved oil and gas
reserves. Undeveloped and unproved properties are periodically assessed for
possible impairment due to unrecoverability of costs invested. Developed and
proved properties are periodically assessed under the accounting rules of SFAS
No. 144, "Accounting for the Impairment and Disposal of Long-Lived Assets ".
Cash received for partial conveyances of property interests are treated as a
recovery of cost and no gain or loss is recognized.

INCOME TAXES

     We have made no provision for income taxes for the three-month period ended
December 31, 2003 since the net income will be offset by net operating loss
carryforwards. We had approximately $1,417,260 of such carryforwards at
September 30, 2003.

ASSET RETIREMENT OBLIGATIONS

     On October 1, 2002, we adopted SFAS No. 143, "Accounting for Asset
Retirement Obligations". SFAS No. 143 addresses financial accounting and
reporting for obligations associated with the retirement of tangible long-lived
assets and the associated asset retirement costs. The Company has adopted SFAS
143 and recorded its estimated obligations. Quarterly accretion is not material.

OTHER INTANGIBLE ASSETS

     In June 2001, the Financial Accounting Standards Board ("FASB") issued SFAS
No. 141, "Business Combinations," which requires the purchase method of
accounting for business combinations initiated after June 30, 2001 and
eliminates the pooling-of-interests method. In July 2001, the FASB issued SFAS
No. 142, "Goodwill and Other Intangible Assets, " which discontinues the

                                       8

<PAGE>


Item 1.  Financial Statements. (Continued)

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

OTHER INTANGIBLE ASSETS (continued)

practice of amortizing goodwill and indefinite lived intangible assets and
initiates an annual review for impairment. Intangible assets with a determinable
useful life will continue to be amortized over that period. The oil and gas
industry is currently discussing the appropriate balance sheet classification of
oil and gas mineral rights held by lease or contract. We classify these assets
as a component of oil and gas properties in accordance with our interpretation
of SFAS No. 19 and common industry practice. There is also a view that these
mineral rights are intangible assets as defined in SFAS No. 141, "Business
Combinations", and, therefore, should be classified separately on the balance
sheet as intangible assets.

     We did not change or reclassify contractual mineral rights included in oil
and gas properties on the balance sheet upon adoption of SFAS No. 141. We
believe our current accounting of such mineral rights as part of oil and gas
properties is appropriate under the successful efforts method of accounting.
However, if the accounting for mineral rights held by lease or contract is
ultimately changed so that costs associated with mineral rights not held under
fee title and pursuant to the guidelines of SFAS No. 141 are required to be
classified as long term intangible assets, then the reclassified amount as of
December 31, 2003 and June 30, 2003 (the end of our last completed fiscal year)
would be approximately $1.6 million. We do not believe that the ultimate outcome
of this issue will have a significant impact on our cash flows, results of
operations or financial condition.

NEW ACCOUNTING PRONOUNCEMENTS

     In December 2002, the FASB approved Statement of Financial Accounting
Standards No. 148, "Accounting for Stock-Based Compensation - Transition and
Disclosure - an amendment of FASB Statement No. 123" (SFAS No. 148). SFAS No.
148 amends Statement of Financial Accounting Standards No. 123, "Accounting for
Stock-Based Compensation" (SFAS No. 123) to provide alternative methods of
transition for a voluntary change to the fair value based method of accounting
for stock-based employee compensation. In addition, SFAS No. 148 amends the
disclosure requirements of SFAS No. 123 to require prominent disclosures in both
annual and interim financial statements about the method of accounting for
stock-based employee compensation and the effect of the method used on reported
results. SFAS No. 148 is effective for financial statements for fiscal years
ending after December 15, 2002. We will continue to account for stock based
compensation using the methods detailed in the stock-based compensation
accounting policy.

     In April 2003, the FASB approved SFAS No. 149, "Amendment of Statement 133
on Derivative Instruments and Hedging Activities". SFAS No. 149 is not expected
to apply to our current or planned activities.

                                       9

<PAGE>


Item 1.  Financial Statements. (Continued)

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

NEW ACCOUNTING PRONOUNCEMENTS (CONTINUED)

     In June 2003, the FASB approved SFAS No. 150, "Accounting for Certain
Financial Instruments with Characteristics of both Liabilities and Equity" (SFAS
No. 150). SFAS No. 150 establishes standards for how an issuer classifies and
measures certain financial instruments with characteristics of both liabilities
and equity. This Statement is effective for financial instruments entered into
or modified after May 31, 2003, and otherwise is effective at the beginning of
the first interim period beginning after June 15, 2003. SFAS No. 150 is not
expected to have an effect on our financial position.

NOTE 2 -- ESTIMATES AND RISKS

     The mining and oil and gas industries are subject, by their nature, to
environmental hazards and cleanup costs for which we carry catastrophe
insurance. At this time, we know of no substantial costs from environmental
accidents or events for which we may be currently liable. In addition, our oil
and gas business makes us vulnerable to changes in wellhead prices of crude oil
and natural gas. Such prices have been volatile in the past and can be expected
to be volatile in the future. By definition, proved reserves are based on
current oil and gas prices. Price declines reduce the estimated proved reserves
and increase annual amortization expense (which is based on proved reserves).

NOTE 3 -- STOCK OPTIONS

         The following schedule summarizes information with respect to options
granted under our equity plans:
                                        Number               Weighted Average
                                          of                 Exercise Price of
                                        Shares               Shares Under Plans
                                        ------               ------------------

Outstanding September 30, 2003         750,000                    $   .19
Granted                                   --                         --
Exercised                                 --                         --
Forfeited or expensed                     --                         --
                                       -------                    -------
Outstanding December 31, 2003          750,000                    $   .19
                                       =======                    =======

                                       10

<PAGE>


Item 1.  Financial Statements. (Continued)

NOTE 4 -- SEGMENT INFORMATION

     We operate in three industry segments within the United States: (1) oil and
gas exploration and development, (2) mineral exploration and development, and
(3) gas transmission pipeline.

     Identified assets by industry are those assets that are used in our
operations in each industry. Corporate assets are principally cash, investment
securities, furniture, and fixtures.

     We have adopted SFAS No. 131, which requires the presentation of
descriptive information about reportable segments which is consistent with that
made available to us in order to assess performance.

     Our oil and gas segment derives its revenues from the sale of oil and gas.
Our mining segment receives its revenues primarily from the sale of minerals and
precious metals and from time to time from the sale of a mineral venture that it
has originated. Corporate income is primarily derived from interest income on
our funds held in money market accounts and the sale of securities. Our pipeline
segment derives revenue from the sale of natural gas from our gas fields in
Leavenworth County, Kansas.

     During the three months ended December 31, 2003, we had no inter-segment
revenues. The accounting policies applied by each segment are the same as those
we use in general.

     Net sales to one customer of our gas transmission pipeline segment totaled
$118,000, or approximately 95% of our revenues for the three months ended
December 31, 2003.

     There have been no differences from our last annual report in the bases of
measuring segment profit or loss. There have been no material changes in the
amount of assets for any of our operating segments since the last annual report.

                                       11

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Item 1.  Financial Statements. (Continued)

NOTE 4 -- SEGMENT INFORMATION (CONTINUED

Segment information for the three months ended December 31, 2003 and 2002 is as
following:

                           Oil and Gas         Pipeline       Mining        Corporate        Consolidated
                           -----------         --------       ------        ---------        ------------
<S>                          <C>              <C>           <C>             <C>              <C>
Revenues
     2003                    $  77,882        $  46,734     $     --        $   8,409        $   133,025
     2002                       78,595           49,852           --            3,377            131,824

Income (Loss)
From Operations
     2003                    $  60,668       $    6,882     $     --        $ (58,116)       $     9,434
     2002                       48,738           15,175           --          (54,533)             9,380

Identifiable Assets
     2003                     $380,504         $237,517     $   33,706      $ 686,209        $ 1,337,936
     2002                      586,074          273,151         38,706        533,003          1,430,934

Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2003                    $   5,100       $    2,800     $     --        $   1,825        $     9,725
     2002                        7,100            2,900           --            1,900             11,900

Capital Expenditures
     2003                     $ 36,266       $     --       $     --        $    --          $    36,266
     2002                        6,826             --             --             --                6,826

NOTE 5 -- OIL AND GAS ACTIVITIES

KANSAS GAS PROJECT -- LEAVENWORTH COUNTY, KANSAS

     During the quarter ended December 31, 2003, we conducted three workovers on
existing gas wells. Indications are that the new wells will be productive and
add to both our reserves and production volumes.

     During the quarter ended December 31, 2002, we acquired five gas wells near
our pipeline system. Construction of from three to six miles of new pipeline
will be required to connect the new wells. This construction has been delayed
due to right-of-way complications and most likely will take place during the
first half of 2004.

                                       12
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<PAGE>


Item 2.  Financial Statements.

                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                    MANAGEMENT'S DISCUSSION AND ANALTYSIS OF
                  FINANCIAL CONDITION AND RESULTS OF OPERATIONS


LIQUIDITY AND CAPITAL RESOURCES

     December 31, 2003 compared to September 30, 2003.

     At December 31, 2003, our current assets were $703,804 and current
liabilities were $30,167 and we had positive working capital of $673,637
compared to current assets of $756,261 at September 30, 2003 and current
liabilities of $59,281 at September 30, 2003, resulting in working capital at
September 30, 2003 of $696,980. Our working capital decreased $23, 343, or 3.4%
for several reasons.

     o    Our current assets decreased approximately $52,500 because cash and
          cash equivalents decreased $54,719 from $124,099 to $69,380. Much of
          the decrease was due to workovers and capital expenditures relating to
          our Leavenworth, Kansas property. Approximately $36,000 was expended
          in the first quarter to perforate, hydraulic fracture treat and
          acidize zones in three wells. Investment in securities declined
          approximately $6,200 reflecting a slight decline in market value of
          bonds held for sale. Accounts receivable and prepaid expense increased
          approximately $8,500.

     o    Our current liabilities decreased approximately $29,100 at December
          31, 2003 to $30,167 from $59,281 at September 30, 2003. This decrease
          was primarily due to the completion of our three well workover program
          and the payment of the outstanding payables relating to that project.

     At the present time, our primary source of cash for operations and
exploration is our current working capital, cash that can be raised by selling
shares held for investment or our investment in U.S. government sovereign agency
securities and other corporate bonds and funds derived from our oil and gas
operations. We have in the past, and plan in the future, to rely on joint
venture partners or equity funding to supply some of the funds needed to
evaluate and develop our properties. Any inability we may have to raise
additional capital through a stock offering, to liquidate its securities
holdings or obtain third party funding may limit development of most of our
properties.

     Although we intend to use joint venture or equity funding to explore,
acquire and, if warranted, develop our properties, the natural resource business
is nevertheless capital intensive. We continue to seek joint venture financing
for our properties and to acquire properties with near-term revenue generating
capability. Our efforts to evaluate, identify and/or acquire such
revenue-generating prospects and to further develop our existing properties have
been ongoing during this past year, and, while we are optimistic, there is no
assurance that we will be successful in securing the required capital.

                                       13

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Item 2.  Financial Statements (Continued)

RESULTS OF OPERATIONS

     Due to an increase in sales prices received for our gas and a decline in
production volumes, revenue from our oil, gas and pipeline sales decreased for
the three months ended December 31, 2003 when compared to the same period in
2002. While our production decreased 4%, the price received for our natural gas
increased from an average of $2.37 per MCF for the three months ended December
31, 2002 compared to an average of $2.69 per MCF for the three months ended
December 31, 2003, a 13.5% increase. Oil and gas sales decreased 1%, or $713,
from $78,595 to $77,882. Pipeline sales were $46,734 for the three months ended
December 31, 2003 and $49,852 for the three months ended December 31, 2002, a
decrease of $3,118, or a 6.3% decrease due primarily to decreased gas sales.
Interest and Other of $6,385 increased from $3,377 primarily due to an increase
in yield on bonds currently held when compared to the yield received from bonds
that matured in fiscal 2002. A partial return of principal on one bond was
redeemed for a gain of $2,024 for the three months ended December 31, 2003
compared to no sales or gain for the three months ended December 31, 2002. Oil
and gas and pipeline operating costs remained relatively constant when comparing
the three months ended December 31, 2003 to December 31, 2002.

     General and administrative expenses totaled $64,700 for the three months
ended December 31, 2003, compared to $57,910 for the three-month period ended
December 31, 2002. The increase of $6,790 in general and administrative costs
was primarily due to an increase in salaries paid to officers and employees.

CONTRACTUAL OBLIGATIONS

     We had only one contractual obligation as of December 31, 2003. The
following table lists our significant liabilities at December 31, 2003:

                                                                   Payments Due by Period
                                                  Less than
Contractual Obligations                           1 year        2-3 years      4-5 years   After 5 years     Total
---------------------------                       ---------     ---------      ---------   -------------     -----
<S>                                                <C>          <C>            <C>        <C>                <C>
Operating leases                                   $12,456      $   -0-        $   -0-     $         -0-     $12,456
                                                   -------      -------        -------     -------------     -------

Total contractual cash obligations                 $12,456      $   -0-        $   -0-     $         -0-     $12,456
                                                   =======      =======        =======     =============     =======

     We lease our corporate offices in Denver, Colorado under the terms of an
operating lease, which expires on December 31, 2004. Yearly payments under the
lease are $12,456.

     We have an operating lease on a gas compressor that we use in our pipeline
operation. The lease is renewable on a month-to-month basis at a rate of $2,053
per month or $24,640 per year.

                                       14
</TABLE>

<PAGE>


Item 2.  Financial Statements (Continued)

RESULTS OF OPERATIONS (CONTINUED)

CONTRACTUAL OBLIGATIONS (CONTINUED)

     We also lease a compressor site from a third party. We can cancel the lease
upon thirty - day written notice. The lease payment for the calendar year 2004
is $8,000 and was paid in January 2004. If we elect to continue the lease in
2005, the lease payment for that year will be $9,000.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

     We believe the following critical accounting policies affect our more
significant judgments and estimates used in the preparation of our Consolidated
Financial Statements.

Reserve Estimates:

     Our estimates of oil and natural gas reserves, by necessity, are
projections based on geological and engineering data, and there are
uncertainties inherent in the interpretation of such data as well as the
projection of future rates of production and the timing of development
expenditures. Reserve engineering is a subjective process of estimating
underground accumulations of oil and natural gas that are difficult to measure.
The accuracy of any reserve estimate is a function of the quality of available
data, engineering and geological interpretation and judgment. Estimates of
economically recoverable oil and natural gas reserves and future net cash flows
necessarily depend upon a number of variable factors and assumptions, such as
historical production from the area compared with production from other
producing areas, the assumed effects of regulations by governmental agencies and
assumptions governing future oil and natural gas prices, future operating costs,
severance and excise taxes, development costs and workover and remedial costs,
all of which may in fact vary considerably from actual results. For these
reasons, estimates of the economically recoverable quantities of oil and natural
gas attributable to any particular group of properties, classifications of such
reserves based on risk of recovery, and estimates of the future net cash flows
expected there from may vary substantially. Any significant variance in the
assumptions could materially affect the estimated quantity and value of the
reserves, which could affect the carrying value of our oil and gas properties
and/or the rate of depletion of the oil and gas properties. Actual production,
revenues and expenditures with respect our reserves will likely vary from
estimates, and such variances may be material.

     Many factors will affect actual net cash flows, including:

     o    The amount and timing of actual production;
     o    Supply and demand for natural gas;
     o    Curtailments or increases in consumption by natural gas purchasers;
          and
     o    Changes in governmental regulations or taxation.

                                       15

<PAGE>


Item 2.   Financial Statements (Continued)

CRITICAL ACCOUNTING POLICIES AND ESTIMATES (CONTINUED)

Property, Equipment and Depreciation:

     We follow the successful efforts method of accounting for oil and gas
properties. Under this method all productive costs incurred in connection with
the exploration for and development of oil and gas reserves are capitalized.
Such capitalized costs include lease acquisition, geological and geophysical
work, delay rentals, drilling, completing and equipping oil and gas wells,
including salaries, benefits and other internal salary related costs directly
attributable to these activities. Costs associated with production and general
corporate activities are expensed in the period incurred. Interest costs related
to unproved properties and properties under development are also capitalized to
oil and gas properties. If the net investment in oil and gas properties exceeds
an amount equal to the sum of (1) the standardized measure of discounted future
net cash flows from proved reserves, and (2) the lower of cost or fair market
value of properties in process of development and unexplored acreage, the excess
is charged to expense as additional depletion. Normal dispositions of oil and
gas properties are accounted for as adjustments of capitalized costs, with no
gain or loss recognized.

ITEM 3.  CONTROLS AND PROCEDURES

     Our management evaluated, with the participation of our chief executive and
financial officer, the effectiveness of our disclosure controls and procedures
as of the end of the period covered by this report. Based on that evaluation,
the chief executive and financial officer concluded that our disclosure controls
and procedures are effective to ensure that information required to be disclosed
by us in the reports that we file or submit under the Securities Exchange Act of
1934 is recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms.

     There were no changes in our internal control over financial reporting that
occurred during our last fiscal quarter that have materially affected, or are
reasonably likely to materially affect, our internal control over financial
reporting.

                                       16

<PAGE>


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                          PART II -- OTHER INFORMATION



ITEM 1.   LEGAL PROCEEDINGS.

          N/A

ITEM 2.   CHANGES IN SECURITIES AND SMALL BUSINESS ISSUER
          PURCHASES OF SECURITIES.

          N/A

ITEM 3.   DEFAULTS UPON SENIOR SECURITIES.

          N/A

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

          N/A

ITEM 5.   OTHER INFORMATION.

          N/A

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K.

          (a)  Exhibit 31.1-- Certification of Chief Executive and Financial
               Officer under Section 302 of the Sarbanes-Oxley Act of 2002

               Exhibit 32.1--Certification of the Chief Executive and Financial
               Officer under Section 906 of the Sarbanes-Oxley Act of 2002.

          (b)  Reports on Form 8-K. None.

                                       17

<PAGE>




                                   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.



                                            MONUMENT RESOURCES, INC.
                                            (Registrant)


Date:  February 13, 2004                    By:  /s/  A.G. Foust
                                               --------------------------------
                                                      A.G. Foust, President
                                                      (Chief Executive Officer,
                                                      Principal Financial and
                                                      Accounting Officer) and
                                                      a Director

                                       18

<PAGE>


                                  EXHIBIT INDEX

  EXHIBIT
  NUMBER            DESCRIPTION
  ------            -----------

  31.1              Certification of Chief Executive and Financial Officer under
                    Section 302 of the Sarbanes-Oxley Act of 2002.

  32.1              Certification of Chief Executive and Financial Officer under
                    Section 906 of the Sarbanes-Oxley Act of 2002.

                                       19