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 March 31, 2003

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

         For the transition period from ______________ to _______________

Commission file number    33-15528-D
                          ----------

                            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: 4,869,000 shares of common stock were
outstanding at May 13, 2003.

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.    Consolidated Balance Sheets as of                          2
                March 31, 2003 and September 30, 2002

                Consolidated Statements of Operations                      4
                for the Three and Six Months ended
                March 31, 2003 and 2002

                Consolidated Statements of Cash Flows                      5
                for the Six Months ended
                March 31, 2003 and 2002

                Notes to Consolidated Financial Statements                 6

     Item 2.    Management's Discussion and Analysis of                   12
                Financial Condition and Results of Operations

     Item 3.    Controls and Procedures                                   15

PART II.        OTHER INFORMATION

     Item 6.    Exhibits and Reports on Form 8-K                          17

                Signatures                                                17



                                       1
<PAGE>
<TABLE>
<CAPTION>


Item 1.  Financial Statements.


                               MONUMENT RESOURCES, INC. AND SUBSIDIARY
                                     CONSOLIDATED BALANCE SHEETS

               ASSETS

                                                              March 31,              September 30,
                                                                2003                     2002
                                                             (Unaudited)               (Audited)
                                                             -----------               ---------

<S>                                                           <C>                      <C>
Current assets
         Cash                                                 $   97,434               $   54,064
         Investment in securities, at market                     442,951                  300,743
         Accounts receivable - legal and insurance                39,968                  110,195
         Account receivable                                       79,531                   24,373
         Prepaid expense                                           7,006                   15,148
                                                              ----------               ----------

Total current assets                                             666,890                  504,523
                                                              ----------               ----------

Mineral properties                                                38,706                   38,706
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depletion                            557,835                  564,334

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                              156,785                  161,685
         Property and equipment, net of
           accumulated depreciation                               45,145                   44,045
                                                              ----------               ----------

Net property and equipment                                       201,930                  205,730

Investments in securities, at market                              22,705                   47,800
                                                              ----------               ----------

Total assets                                                  $1,488,066               $1,361,093
                                                              ==========               ==========




See Notes to Consolidated Financial Statements.

                                                  2


<PAGE>



Item 1.  Financial Statements. (Continued)


                              MONUMENT RESOURCES, INC. AND SUBSIDIARY
                                   CONSOLIDATED BALANCE SHEETS

LIABILITIES AND STOCKHOLDERS' EQUITY

                                                               March 31,               September 30,
                                                                 2003                      2002
                                                              (Unaudited)                (Audited)
                                                              -----------                ---------


Current liabilities
         Accounts payable and accrued expenses                $    49,998                $    41,497
                                                              -----------                -----------

Total current liabilities                                          49,998                     41,497
                                                              -----------                -----------

Stockholders' equity:
Preferred Stock, no par value, authorized
         1,000,000 shares; none issued                               --                         --
Common Stock, no par value, authorized
         10,000,000 shares; 4,869,000 issued
         and outstanding on March 31, 2003
         and September 30, 2002                                 3,167,782                  3,167,782
Accumulated deficit                                            (1,753,467)                (1,894,931)
Unrealized gain on investment in securities                        23,753                     46,745
                                                              -----------                -----------

Total stockholders' equity                                      1,438,068                  1,319,596
                                                              -----------                -----------

Total liabilities and stockholders' equity                    $ 1,488,066                $ 1,361,093
                                                              ===========                ===========










See Notes to Consolidated Financial Statements.

                                                     3


<PAGE>


Item 1.  Financial Statements. (Continued)


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


                                                                       Three Months                       Six Months
                                                                      Ended March 31,                   Ended March 31,
                                                                   2003            2002              2003            2002
                                                              ----------------------------       ----------------------------
Revenue
         Oil and gas sales                                    $   113,035      $    46,166       $   191,630      $    80,471
         Pipeline income                                           39,733           28,958            89,585           58,424
         Interest and other                                         4,751           11,088             8,128           14,098
         Gain (loss) on securities sale                               106            1,684               106            4,105
                                                              ----------------------------       ----------------------------
                  Total                                           157,625           87,896           289,449          157,098
                                                              ----------------------------       ----------------------------

Expenses
         Oil and gas operating expense                             10,616           14,585            31,473           27,975
         Pipeline operating expense                                38,324           31,603            70,101           69,867
         General and administrative                                39,555           45,173            97,465          133,821
         Depletion, depreciation and amortization                  10,900           18,450            22,800           36,900
                                                              ----------------------------       ----------------------------

                  Total                                            99,395          109,811           221,839          268,563
                                                              ----------------------------       ----------------------------

Net income (loss) from operations                                  58,230          (21,915)           67,610         (111,465)
Legal settlement                                                    5,115             --              73,855             --
                                                              ----------------------------       ----------------------------

Net income (loss)                                             $    63,345      $   (21,915)      $   141,465      $  (111,465)
                                                              ============================       ============================
Basic income (loss) per common share                          $       .01      $      --         $       .03      $      (.02)
                                                              ============================       ============================
Diluted income (loss) per common share                        $       .01      $      --         $       .03      $      (.02)
                                                              ============================       ============================
Weighted average number of shares outstanding                   4,869,000        4,869,000         4,869,000        4,869,000
                                                              ============================       ============================

Diluted weighted average number of shares outstanding           5,062,940        4,869,000         5,062,940        4,869,000
                                                              ============================       ============================







See Notes to Consolidated Financial Statements.

                                                                    4
<PAGE>


Item 1.  Financial Statements. (Continued)

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

                                                                              Six Months Ended March 31,
                                                                             2003                  2002
                                                                          --------------------------------

Cash flows from operating activities:
Net income (loss)                                                         $ 141,465              $(111,465)
Adjustment to reconcile net income (loss) to net
   cash provided (used) by operating activities:
         Depreciation, depletion and amortization                            22,800                 36,900
         (Gain) on sale of securities                                          (106)                (4,105)
Changes in operating assets and liabilities:
         Decrease in prepaid expense                                          8,142                 18,160
         Decrease in accounts receivable                                     15,068                 19,567
         Increase (decrease) in accounts payable and
           accrued expense                                                    8,501                (15,488)
         (Decrease) in insurance proceeds                                      --                   (8,812)
                                                                          ---------              ---------

Net cash flow provided (used) by operations                                 195,871                (65,243)
                                                                          ---------              ---------

Cash flows from investing activities:

Proceeds from sale of investment securities                                 160,000                117,991

Additions to oil and gas properties                                          (7,601)               (33,717)

Additions to office equipment                                                (4,900)                  --

Investment in bond fund                                                    (300,000)                  --
                                                                          ---------              ---------

Net cash flows provided (used) by
   investing activities                                                    (152,501)                84,274
                                                                          ---------              ---------

Net increase in cash                                                         43,370                 19,031

Cash at beginning of period                                                  54,064                  9,203
                                                                          ---------              ---------

Cash at end of period                                                     $  97,434              $  28,234
                                                                          =========              =========


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

(Decrease) in unrealized gain
    on securities available for sale                                      $ (22,992)             $ (40,305)
                                                                          =========              =========


See Notes to Consolidated Financial Statements

                                                          5

</TABLE>


<PAGE>


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, 2002.

     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, 2002.

CONSOLIDATION

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



                                       6

<PAGE>


Item 1.  Financial Statements. (Continued)


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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 (loss) per share for the
six months ended March 31, 2003:

                                                      2003
                                       ----------------------------------
                                                                     Per
                                       Net                          Share
                                      Income          Shares        Amount
                                      ------          ------        ------

Basic earnings per share:
     Net income (loss)
     and share amounts              $ 141,465       4,869,000        $  .03

Dilutive securities:
     Stock options                          -         193,940             -
                                    ---------       ---------        ------

Diluted earnings per share:
     Net income and
      assumed share conversion      $ 141,465       5,062,940        $  .03
                                    =========       =========        ======

     Because of net losses for the six months ended March 31, 2002, the basic
and dilutive average outstanding shares are considered the same, since including
the shares would have an anti-dilutive effect on the loss per share calculation.



                                       7

<PAGE>


Item 1.  Financial Statements. (Continued)

                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED 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. 121, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets to be Disposed Of ". 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
March 31, 2003 since the net income will be offset by net operating loss
carryforwards. We had $1,421,916 of such carryforwards at September 30, 2002.

SFAS NO. 143

     On October 1, 2002 we adopted Financial Accounting Standards Board No. 143,
"Accounting for Asset Retirement Obligations" ("SFAS No. 143"). 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. We are currently assessing the impact of this statement and, at this
time, cannot reasonably estimate the effect of the adoption of SFAS No. 143 on
our position, results of operations or cash flows.


                                       8

<PAGE>


Item 1.  Financial Statements. (Continued)

                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

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 March 31, 2002                550,000          $   .21
Granted                                      --             --
Exercised                                    --             --
Forfeited or expensed                        --             --
                                          -------          -------
Outstanding September 30, 2002            550,000              .21
Granted                                      --             --
Exercised                                    --             --
Forfeited or expensed                        --             --
                                          -------          -------
Outstanding March 31, 2003                550,000          $   .21
                                          =======          =======

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.


                                       9
<PAGE>


Item 1.  Financial Statements. (Continued)

                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 4 -- SEGMENT INFORMATION (CONTINUED)

     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 six months ended March 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
$251,767, or approximately 87% of our revenues for the six months ended March
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.



                                       10

<PAGE>



Item 1.  Financial Statements. (Continued)

                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)

NOTE 4 -- SEGMENT INFORMATION (CONTINUED)

Segment information for the six months ended March 31, 2003 and 2003 is as
following:

<TABLE>
<CAPTION>

                           Oil and Gas         Pipeline       Mining       Corporate        Consolidated
                           -----------         --------       ------       ---------        ------------
Revenues
<S>  <C>                  <C>                <C>          <C>            <C>                <C>
     2003                 $    191,630       $   89,585     $      --     $      8,234       $    289,449
     2002                       80,471           58,424            --           18,203            157,098

Income (Loss)
From Operations
     2003                 $    146,057       $   14,584     $      --      $   (19,176)      $    141,465
     2002                       27,596          (20,263)           --         (118,798)          (111,465)

Identifiable Assets
     2003                 $    583,201       $  296,063     $    38,706    $   570,096       $  1,488,066
     2002                      594,759          221,624          53,616        454,966          1,324,965

Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2003                 $     14,100      $     4,900     $       --     $     3,800       $     22,800
     2002                       27,720           17,772             --           1,631             47,123

Capital Expenditures
     2003                 $      7,601      $        --     $       --     $     4,900       $     12,501
     2002                       33,717               --             --             --              33,717
</TABLE>

NOTE 5 -- OIL AND GAS ACTIVITIES

KANSAS GAS PROJECT -- LEAVENWORTH COUNTY, KANSAS

     During the quarter ended March 31, 2003, we acquired a 159-acre oil and gas
lease, which contains six gas wells. The lease is near our existing Leavenworth
County, Kansas gas project. We are in the process of testing the wells to
determine their productivity.

     No recompletions were conducted in the Leavenworth gas project during the
three months ended March 31, 2003. Results are being evaluated from the
recompletions conducted in prior periods and we expect a modest increase in gas
volumes and reserves. Also, during prior periods, we acquired an additional 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 most
likely will take place during the summer of 2003.



                                       11
<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

     As of March 31, 2003, we had $666,890 in current assets and $49,998 in
current liabilities, resulting in a positive working capital of $616,892. This
compares to $504,523 and $41,497 in current assets and liabilities at September
30, 2002 for a working capital balance of $463,026. The working capital increase
of $153,866, or 34%, was the result of a net purchase of securities of $140,000,
an increase in the value of securities of $2,208, an increase in cash of
$43,370, a decrease in accounts receivable of $15,069, and a decrease in prepaid
expense of $8,142. Current liabilities increased $8,500, primarily due to an
increase in royalty payables.

     During the six months ended March 31, 2003 we settled a lawsuit relating to
the Galvan Ranch property in Webb County, Texas. The lawsuit was settled on
terms acceptable to us and we netted $73,855 after legal, expert witness and
other litigation expenses.

     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.

RESULTS OF OPERATIONS

     Due to an increase in sales prices received for our gas, revenue from our
oil, gas and pipeline sales increased significantly for the six months ended
March 31, 2003 when compared to the same period in 2002. While our production
decreased 2%, the price received for our natural gas increased from an average
of $1.44 per MCF for the six months ended March 31, 2002 compared to an average
of $3.28 per MCF for the six months ended March 31, 2003, a



                                       12
<PAGE>



Item 2.  Financial Statements (Continued)

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

RESULTS OF OPERATIONS (CONTINUED)

128% increase. Oil and gas sales increased 138%, or $111,159, from $80,471 to
$191,630. Pipeline sales were $89,585 during the six months ended March 31, 2003
and $58,424 for the six months ended March 31, 2002, an increase of $31,161, or
53% increase. Interest and Other of $8,128 decreased from $14,098 primarily due
to a decrease in yield on bonds currently held when compared to the yield
received from bonds that matured in fiscal 2002. One bond was redeemed for a
gain of $106 for the six months ended March 31, 2003 compared to a gain of
$4,105 for the six months ended March 31, 2002. Oil and gas and pipeline
operating costs remained relatively constant when comparing the six months ended
March 31, 2003 to March 31, 2002.

     General and administrative expenses totaled $97,465 for the six months
ended March 31, 2003, compared to $133,821 for the six-month period ended March
31, 2002. The decrease of $36,356 in general and administrative costs was
primarily due to the elimination of litigation expense relating to the Galvan
Ranch property located in Webb County, Texas which was settled in November 2002.

CONTRACTUAL OBLIGATIONS

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

<TABLE>
<CAPTION>


                                                                   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                         $  9,342      $        -0-    $       -0-      $        -0-      $9,342
                                         --------      ------------    -----------      ------------      ------

Total contractual cash obligations       $  9,342      $        -0-    $       -0-      $        -0-      $9,342
                                         ========      ============    ===========      ============      ======


</TABLE>

     We lease our corporate offices in Denver, Colorado under the terms of an
operating lease, which expires on December 31, 2003. Yearly payments under the
lease are approximately $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 $1,950
per month or $23,400 per year.

     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 2003
is $7,000 and was paid in January 2003. If we elect to continue the lease in
2004, the lease payment for that year will be $8,000.



                                       13
<PAGE>


Item 2.  Financial Statements (Continued)

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

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.

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

                                       14

<PAGE>


Item 2.   Financial Statements (Continued)

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

CRITICAL ACCOUNTING POLICIES AND ESTIMATES (CONTINUED)

Property, Equipment and Depreciation (Continued)

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

     The Company, under the supervision of the chief executive and financial
officer, has conducted an evaluation of the effectiveness of the design and
operation of the Company's disclosure controls and procedures within 90 days of
the filing date of this quarterly report. Based upon the results of this
evaluation, the Company believes that they maintain proper procedures for
gathering, analyzing and disclosing all information in a timely fashion that is
required to be disclosed in its Exchange Act reports. There have been no
significant changes in the Company's controls subsequent to the evaluation date.




                                       15

<PAGE>



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

ITEM 1.  LEGAL PROCEEDINGS.

         N/A

ITEM 2.  CHANGES IN SECURITIES.

         N/A

ITEM 3.  CONTROLS AND PROCEDURES.

         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 99.1
             Certification of Chief Executive Officer and Chief Financial
             Officer.
         (b) Reports on Form 8-K. None.



                                       16
<PAGE>


Part II     OTHER INFORAMTION

Item 6.     Exhibits and Reports on Form 8-K

            (a) Exhibit 99.1 Certification of Principal Executive and Accounting
                             and Financial Officer, Anton G. Foust, pursuant to
                             18 U.S.C. Section 1350


                                   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:  May 13, 2003                By:  /s/   A.G. Foust
                                      ------------------------------------------
                                          A.G. Foust, President
                                          (Chief Executive Officer, Principal
                                          Financial and Accounting Officer) and
                                          a Director

                                       17

<PAGE>

                                  CERTIFICATION

I, A.G. Foust, certify that:

1.   I have reviewed this Quarterly Report on Form 10-QSB of Monument Resources,
     Inc. and subsidiaries;

2.   Based on my knowledge, this Quarterly Report does not contain any untrue
     statement of a material fact or omit to state a material fact necessary to
     make the statements made, in light of the circumstances under which such
     statements were made, not misleading with respect to the period covered by
     this Quarterly Report.

3.   Based on my knowledge, the financial statements, and other financial
     information included in this Quarterly Report, fairly present in all
     material respects the financial condition, results of operations and cash
     flows of the registrant as of, and for, the period presented in this
     Quarterly Report.

4.   I am responsible for establishing and maintaining disclosure controls and
     procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the
     registrant and have:

     (a)  designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to me by others within those
          entities, particularly during the period in which this Quarterly
          Report is being prepared;

     (b)  evaluated the effectiveness of the registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this Quarterly Report (the "Evaluation Date"); and

     (c)  presented in this Quarterly Report my conclusions about the
          effectiveness of the disclosure controls and procedures based on my
          evaluation as of the Evaluation Date;

5.   I have disclosed, based on my most recent evaluation, to the registrant's
     auditors and the audit committee of registrant's board of directors (or
     persons performing the equivalent functions):

     (a)  all significant deficiencies in the design or operation of internal
          controls which could adversely affect the registrant's ability to
          record, process, summarize and report financial data and have
          identified for the registrant's auditors any material weakness in
          internal controls; and

     (b)  any fraud, whether or not material, that involves management or other
          employees who have a significant role in the registrant's internal
          controls; and

6.   I have indicated in this Quarterly Report whether or not there were
     significant changes in internal controls or in other factors that could
     significantly affect internal controls subsequent to the date of my most
     recent evaluation, including any corrective actions with regard to
     significant deficiencies and material weakness.

     Date:  May 13, 2003                        By: /s/  A.G. Foust
                                                    ----------------------------
                                                Name:    A.G. Foust
                                                Title:   Principal Executive
                                                         and Financial Officer


<PAGE>
                                  EXHIBIT INDEX

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

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