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, 2005

[   ]    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 Identification No.)
Incorporation or Organization)

           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 May 9, 2005.

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
               March 31, 2005 and September 30, 2004

               Condensed Consolidated Statements of Operations            4
               for the Three Months and Six Months ended
               March 31, 2005 and 2004

               Condensed Consolidated Statements of Cash Flows            5
               for the Six Months ended March 31, 2005 and 2004

               Notes to Condensed Consolidated Financial Statements       6

     Item 2.   Management's Discussion and Analysis of                   16
               Financial Condition and Results of Operations

     Item 3.   Controls and Procedures                                   19

PART II.       OTHER INFORMATION                                         20

               Signatures                                                21

               Exhibit Index                                             22

                                       1
<PAGE>
<TABLE>
<CAPTION>


Item 1. Financial Statements.


                                MONUMENT RESOURCES, INC. AND SUBSIDIARY
                                  CONDENSED CONSOLIDATED BALANCE SHEETS


                                                          March 31,               September 30,
                                                             2005                     2004
ASSETS                                                   (Unaudited)                (Audited)
                                                         -----------              -------------
<S>                                                      <C>                       <C>
Current assets
         Cash and cash equivalents                       $  128,464                $   51,397
         Investment in securities, at market                417,688                   478,481
         Accounts receivable                                 52,119                    28,268
         Prepaid expenses                                     8,825                    19,179
                                                         ----------                ----------

Total current assets                                        607,096                   577,325

Mineral property held for sale                               28,706                    28,706
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depletion                       433,513                   442,015

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                         158,972                   157,793
         Property and equipment, net of
           accumulated depreciation                         132,850                   113,468
                                                         ----------                ----------

Net property and equipment                                  291,822                   271,261

Investments in securities, at market                         43,352                    20,021
                                                         ----------                ----------

Total assets                                             $1,404,489                $1,339,328
                                                         ==========                ==========


See Notes to Condensed Consolidated Financial Statements.

                                               2


<PAGE>



Item 1.  Financial Statements. (Continued)


                                MONUMENT RESOURCES, INC. AND SUBSIDIARY
                                 CONDENSED CONSOLIDATED BALANCE SHEETS


                                                           March 31,                September 30,
                                                             2005                      2004
LIABILITIES AND STOCKHOLDERS' EQUITY                     (Unaudited)                 (Audited)
                                                         -----------                -------------
Current liabilities
         Accounts payable and accrued expenses           $    25,693                $    21,843

Asset retirement obligation                                   27,569                     27,569
                                                         -----------                -----------

Total liabilities                                             53,262                     49,412

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 March 31, 2005
         and September 30, 2004                            3,148,018                  3,148,018
Accumulated deficit                                       (1,829,619)                (1,874,149)
Unrealized gain on investment in securities                   32,828                     16,047
                                                         -----------                -----------

Total stockholders' equity                                 1,351,227                  1,289,916
                                                         -----------                -----------

Total liabilities and stockholders' equity               $ 1,404,489                $ 1,339,328
                                                         ===========                ===========


See Notes to Condensed Consolidated Financial Statements.

                                                     3
<PAGE>



Item 1.  Financial Statements. (Continued)


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


                                                                Three Months                        Six Months
                                                               Ended March 31,                    Ended March 31,
                                                               --------------                     --------------
                                                            2005             2004             2005              2004
                                                            ----             ----             ----              ----
Revenue
         Oil and gas sales                              $   103,476      $    94,202       $   208,230       $   172,084
         Pipeline income                                     41,523           43,947            79,896            90,681
         Interest and other                                   2,559            9,391            10,802            15,776
         Gain (loss) on securities sale                        --               (749)             (125)            1,275
                                                        ----------------------------       -----------------------------

                  Total                                     147,558          146,791           298,803           279,816
                                                        ----------------------------       -----------------------------

Expenses
         Oil and gas operating expense                       16,667           12,603            29,626            24,717
         Pipeline operating expense                          48,823           41,185            83,235            78,237
         General and administrative                          41,027           43,226           112,878           107,926
         Depletion, depreciation and amortization            12,969            9,725            28,534            19,450
                                                        ----------------------------       -----------------------------

                  Total                                     119,486          106,739           254,273           230,330
                                                        ----------------------------       -----------------------------

Net income                                              $    28,072      $    40,052       $    44,530       $    49,486
                                                        ============================       =============================
Basic income per common share                           $       .01      $       .01       $       .01       $       .01
                                                        ============================       =============================
Diluted income per common share                         $       .01      $       .01       $       .01       $       .01
                                                        ============================       =============================
Weighted average number of shares outstanding             4,569,000        4,569,000         4,569,000         4,569,000
                                                        ============================       =============================

Diluted weighted average number of shares outstanding     4,749,000        4,893,627         4,749,000         4,893,627
                                                        ============================       =============================


See Notes to Condensed Consolidated Financial Statements.

                                                                   4
<PAGE>



Item 1.  Financial Statements. (Continued)


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

                                                               Six Months Ended March 31,
                                                               --------------------------
                                                              2005                   2004
                                                              ----                   ----

Cash flows from operating activities:
Net income                                                 $  44,530              $  49,486
Adjustment to reconcile net income to net
   cash provided by operating activities:
         Depreciation, depletion and amortization             28,534                 19,450
         (Gain) loss on sale of securities                       125                 (1,275)
Changes in operating assets and liabilities:
         Decrease in prepaid expense                          10,354                  8,930
         (Increase) in accounts receivable                   (23,851)               (16,823)
         Increase (decrease) in accounts payable
         and accrued expenses                                  3,850                (20,664)
                                                           ---------              ---------

Net cash flow provided (used) by operations                   63,542                 39,104
                                                           ---------              ---------

Cash flows from investing activities:

Proceeds from sale of investment securities                   54,118                105,748
Additions to oil and gas properties                           (2,158)               (96,678)
Additions to equipment                                       (38,435)                (1,601)
Purchase of investment securities                               --                 (100,000)
                                                           ---------              ---------

Net cash flows provided  (used) by
   investing activities                                       13,525                (92,531)
                                                           ---------              ---------

Net increase (decrease) in cash                               77,067                (53,427)

Cash and cash equivalents at beginning of period              51,397                124,099
                                                           ---------              ---------

Cash and cash equivalents at end of period                 $ 128,464              $  70,672
                                                           =========              =========


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


Increase (decrease) in unrealized gain
         on securities available for sale                  $  16,781              $  (3,164)
                                                           =========              =========


See Notes to Condensed Consolidated Financial Statements

                                               5
</TABLE>

<PAGE>



Item 1.  Financial Statements. (Continued)


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY

              NOTES TO CONDENSED 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. Our 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 condensed consolidated financial statements are unaudited.
However, in our opinion, the accompanying condensed consolidated 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 subsequent interim periods or the
remainder of the year. These financial statements should be read in conjunction
with our Annual Report on Form 10-KSB for the year ended September 30, 2004.

     Except for the historical information contained in this Form 10-QSB, this
Report 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 our Annual Report on Form 10-KSB for the year ended
September 30, 2004.

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
<PAGE>



Item 1.  Financial Statements. (Continued)


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

REVENUE RECOGNITION

     The Company recognizes its share of sales of oil and gas production, net of
transportation fees (pipeline income), at the time of delivery of the product to
the purchaser.

     Pipeline income is earned from the transportation of gas from the wellhead
to the purchaser. Pipeline income is contractually determined and is 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 six
months ended:
<TABLE>
<CAPTION>

                                                                              March 31,
                                         ---------------------------------------------------------------------------------
                                                           2005                                      2004
                                         ---------------------------------------   ---------------------------------------
                                                                           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
     and share amounts                  $  44,530       4,569,000       $   .01    $  49,486       4,569,000       $   .01

Dilutive securities:
     Stock options                                        180,000                                    324,627
                                        ---------       ---------       -------    ---------       ---------       -------

Diluted earnings per share:
     Net income and
      assumed share conversion          $  44,530       4,749,000       $   .01    $  49,486       4,893,627       $   .01
                                        =========       =========       =======    =========       =========       =======
</TABLE>

                                                                       7


<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 six month period ended
March 31, 2005 since taxable income will be offset by net operating loss
carryforwards. We had approximately $1,771,090 of such carryforwards at
September 30, 2004.

INVESTMENT IN SECURITIES

     We follow SFAS No. 115, "Accounting for Certain Investments in Debt and
Equity Securities," in accounting for our security investments. In accordance
with SFAS No. 115, our investment in securities has been classified as
available-for-sale because they are being held for an indefinite period of time.
Under the available-for-sale classification, the securities are recorded as an
asset at current market value on the balance sheet with an equal amount
representing unrealized gains and losses recorded as a component of
stockholders' equity. The current market value is derived from published
newspaper quotations as of the end of each quarter. At the time of sale, a gain
or loss is recognized in the statement of operations using the cost basis of
securities sold as determined by specific identification.

                                       8

<PAGE>



Item 1.   Financial Statements. (Continued)

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


COMPREHENSIVE INCOME

     We have adopted SFAS No. 130, "Reporting Comprehensive Income", which
establishes standards for reporting of comprehensive income. This pronouncement
requires that all items recognized under accounting standards as components of
comprehensive income, as defined in the pronouncement, be reported in a
financial statement that is displayed with the same prominence as other
financial statements. Comprehensive income includes changes in equity during a
period, except those resulting from investments by owners and distributions to
owners. Under comprehensive income, we report unrealized gains and losses on
investments in debt and equity securities as changes in equity on an annual
basis only (but not for quarterly periods).

ASSET RETIREMENT OBLIGATIONS

     We have 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. We have adopted SFAS No. 143 and recorded our
estimated obligations. Quarterly accretion is not material.

STOCK BASED COMPENSATION

     We have adopted SFAS No. 148, "Accounting for Stock-Based Compensation -
Transition and Disclosure - an amendment of SFAS No. 123". 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.

NEW ACCOUNTING PRONOUNCEMENTS

FASB 151 -  Inventory Costs

     In November 2004, the Financial Accounting Standards Board ("FASB") issued
SFAS No. 151, which revised ARB No. 43, relating to inventory costs. This
revision is to clarify the accounting for abnormal amounts of idle facility
expense, freight, handling costs and wasted material (spoilage). This Statement
requires that these items be recognized as a current

                                       9
<PAGE>



Item 1.   Financial Statements. (Continued)

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


NEW ACCOUNTING PRONOUNCEMENTS (CONTINUED)

FASB 151 -  Inventory Costs (continued)

period charge regardless of whether they meet the criterion specified in ARB No.
43. In addition, this Statement requires the allocation of fixed production
overheads to the costs of conversion be based on normal capacity of the
production facilities. This Statement is effective for financial statements for
fiscal years beginning after June 15, 2005. Earlier application is permitted for
inventory costs incurred during fiscal years beginning after the date of this
Statement is issued. Management believes this Statement will have no impact on
our financial statements once adopted.

FASB 152 - Accounting for Real Estate Time-Sharing Transactions

     In December 2004, the FASB issued SFAS No. 152, which amends SFAS No. 66,
Accounting for Sales of Real Estate, to reference the financial accounting and
reporting guidance for real estate time-sharing transactions that is provided in
AICPA Statement of Position (SOP) 04-2, Accounting for Real Estate Time-Sharing
Transactions. This Statement also amends SFAS No. 67, Accounting for Costs and
Initial Rental Operations of Real Estate Projects, to state that the guidance
for (a) incidental operations and (b) costs incurred to sell real estate
projects does not apply to real-estate time-sharing transactions. The accounting
for those operations and costs is subject to the guidance in SOP 04-2. This
Statement is effective for financial statements for fiscal years beginning after
June 15, 2005. Management believes this Statement will have no impact on our
financial statements once adopted.

FASB 153 - Exchanges of Non-monetary Assets

     In December 2004, the FASB issued SFAS No. 153. This Statement addresses
the measurement of exchanges of non-monetary assets. The guidance in APB Opinion
No. 29, Accounting for Non-monetary Transactions, is based on the principle that
exchanges of non-monetary assets should be measured based on the fair value of
the assets exchanged. The guidance in that Opinion, however, included certain
exceptions to that principle. This Statement amends Opinion No. 29 to eliminate
the exception for non-monetary exchanges of similar productive assets and
replaces it with a general exception for exchanges of non-monetary assets that
do not have commercial substance. A non-monetary exchange has commercial
substance if the future cash flows of the entity are expected to change
significantly as a result of the exchange. This Statement is effective for
financial statements for fiscal years beginning after June 15, 2005. Earlier
application is permitted for non-monetary asset exchanges incurred during fiscal
years beginning after the date of this Statement is issued. Management believes
this Statement will have no impact on our financial statements once adopted.

                                       10
<PAGE>



Item 1.      Financial Statements. (Continued)

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

NEW ACCOUNTING PRONOUNCEMENTS (CONTINUED)

FASB 123 R (revised 2004) - Share-Based Payments

     In December 2004, the FASB issued a revision to SFAS No. 123, Accounting
for Stock Based Compensation. This Statement supersedes APB Opinion No. 25,
Accounting for Stock Issued to Employees, and its related implementation
guidance. This Statement establishes standards for the accounting for
transactions in which an entity exchanges its equity instruments for goods or
services. It also addresses transactions in which an entity incurs liabilities
in exchange for goods or services that are based on the fair value of the
entity's equity instruments or that may be settled by the issuance of those
equity instruments. This Statement focuses primarily on accounting for
transactions in which an entity obtains employee services in share-based payment
transactions. This Statement does not change the accounting guidance for
share-based payment transactions with parties other than employees provided in
Statement No. 123 as originally issued and EITF Issue No. 96-18, "Accounting for
Equity Instruments That Are Issued to Other Than Employees for Acquiring, or in
Conjunction with Selling, Goods or Services." This Statement does not address
the accounting for employee share ownership plans, which are subject to AICPA
Statement of Position 93-6, Employers' Accounting for Employee Stock Ownership
Plans.

     A nonpublic entity will measure the cost of employee services received in
exchange for an award of equity instruments based on the grant-date fair value
of those instruments, except in certain circumstances.

     A public entity will initially measure the cost of employee services
received in exchange for an award of liability instruments based on its current
fair value; the fair value of that award will be re-measured subsequently at
each reporting date through the settlement date. Changes in fair value during
the requisite service period will be recognized as compensation cost over that
period. A nonpublic entity may elect to measure its liability awards at their
intrinsic value through the date of settlement.

     The grant-date fair value of employee share options and similar instruments
will be estimated using the option-pricing models adjusted for the unique
characteristics of those instruments (unless observable market prices for the
same or similar instruments are available).

     Excess tax benefits, as defined by this Statement, will be recognized as an
addition to paid-in-capital. Cash retained as a result of those excess tax
benefits will be presented in the statement of cash flows as financing cash
inflows. The write-off of deferred tax assets relating to unrealized tax
benefits associated with recognized compensation cost will be recognized as
income tax expense unless there are excess tax benefits from previous awards
remaining in paid-in capital to which it can be offset.

                                       11
<PAGE>



Item 1.      Financial Statements. (Continued)


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

NEW ACCOUNTING PRONOUNCEMENTS (CONTINUED)

FASB 123 R (revised 2004) - Share-Based Payments (continued)

     The notes to the financial statements of both public and nonpublic entities
will disclose information to assist users of financial information to understand
the nature of share-based payment transactions and the effects of those
transactions on the financial statements.

     The effective date of this Statement for the Company is the first interim
reporting period after the Company's year end or the period ending December 31,
2005, unless such deadline is extended by the SEC. Management intends to comply
with this Statement at the scheduled effective date for our relevant financial
statements and does not believe the adoption of the Statement will have a
material impact on the Company's financial statements.

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 liability 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, 2004        750,000                $   .19
Granted                                  --                     --
Exercised                                --                     --
Forfeited or expensed                    --                     --
                                      -------                -------
Outstanding March 31, 2005            750,000                $   .19
                                      =======                =======

                                       12
<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 we
have 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, 2005, 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
$193,803, or approximately 93% of our revenues for the six months ended March
31, 2005.

     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.

                                       13
<PAGE>



Item 1.  Financial Statements. (Continued)

NOTE 4 -- SEGMENT INFORMATION (CONTINUED)

Segment information for the six months ended March 31, 2005 and 2004 is as
follows:
<TABLE>
<CAPTION>

                             Oil and Gas       Pipeline       Mining       Corporate        Consolidated
                             -----------       --------       ------       ---------        ------------
<S>                         <C>               <C>            <C>           <C>              <C>
Revenues
     2005                   $  208,230        $  79,896     $     --       $  10,677         $  298,803
     2004                      172,084           90,681           --          17,051            279,816

Income (Loss)
From Operations
     2005                   $  162,346        $ (14,823)    $     --       $(102,993)        $   44,530
     2004                      137,167            6,844           --         (94,525)            49,486

Identifiable Assets
     2005                   $  515,715        $ 257,192     $   28,706     $ 602,876         $1,404,489
     2004                      423,884          211,554         33,706       705,090          1,374,234

Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2005                   $   16,258        $  11,484     $     --       $     792         $   28,534
     2004                       10,200            5,600           --           3,650             19,450

Capital Expenditures
     2005                   $     --          $  38,485     $     --       $   2,158         $   40,643
     2004                       96,678             --             --           1,601             98,279
</TABLE>


NOTE 5 -- OIL AND GAS ACTIVITIES

KANSAS GAS PROJECT -- LEAVENWORTH COUNTY, KANSAS

     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. Construction has been delayed due to
right-of-way complications.

     During the quarter ended March 31, 2005, we continued to acquire the
right-of-ways needed to construct part of the above pipeline and construction
began in April 2005 and should be completed during the quarter ending June 30,
2005. We also purchased at a cost of $22,929 nearly 14,000 feet of gas pipe
necessary to complete the connection of two new gas wells.

                                       14
<PAGE>



Item 1.  Financial Statements. (Continued)

NOTE 6 -- MINERAL ACTIVITIES

DOBLER GOLD MINE PROSPECT -- BROADWAY COUNTY, MONTANA

     During January 2005, we were notified by Montana Mining Corp. that it was
not going to exercise its option to acquire the Dobler prospect for a payment of
$200,000. Since July 19, 2002, we have received non-refundable payments from
Montana Mining Corp. totaling $25,000, which reduced our basis in the prospect
to $28,706. Our current plan is to list the property for sale as real estate for
significantly more than our cost basis.

NOTE 7 -- COMPREHENSIVE INCOME

     Comprehensive income is the total of net income and all other non-owner
changes in equity. Comprehensive income includes our net income and the change
in unrealized gain (loss) on available for sale investments. We report the
unrealized gain on the investment in securities in our Consolidated Balance
Sheet. The table below details the changes during the three months ended March
31, 2005 and 2004, in our Accumulated Other Comprehensive Income balance and the
components of our comprehensive income.

Three months ended March 31, 2005
---------------------------------
Accumulated other comprehensive income at September 30, 2004           $ 16,047

Change in unrealized gain on securities held for sale                    16,781
                                                                       --------
Accumulated other comprehensive income at March 31, 2005               $ 32,828
                                                                       ========

Three months ended March 31, 2004
---------------------------------
Accumulated other comprehensive income at September 30, 2003           $ 23,751

Change in unrealized gain on securities held for sale                    (3,164)
                                                                       --------
                                                                       --------
Accumulated other comprehensive income at March 31, 2004               $ 20,587
                                                                       ========

                                       15

<PAGE>



Item 2.  Financial Statements.

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

LIQUIDITY AND CAPITAL RESOURCES

     At March 31, 2005, our current assets were $607,096 and current liabilities
were $25,693 and we had positive working capital of $581,403 compared to current
assets of $577,325 at September 30, 2004 and current liabilities of $21,843 at
September 30, 2004, resulting in working capital at September 30, 2004 of
$555,482. Our working capital increased $25,921, or 4.7%.

     At the present time, our primary source of cash for operations and
exploration is our current working capital, including $128,464 of cash held in a
demand deposit account, 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, with a market value of $417,688 at March 31, 2005, 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 our
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 the average sales price received for our gas and
despite a decline in production volumes, revenue from our oil, gas and pipeline
sales increased for the six months ended March 31, 2005 when compared to the
same period in 2004. While our oil and gas production decreased 12.3%, the price
received for our natural gas increased from an average of $3.14 per MCF for the
six months ended March 31, 2004 compared to an average of $4.32 per MCF for the
six months ended March 31, 2005, a 37.6% increase. Oil and gas sales increased
21%, or $36,146, from $172,084 to $208,230. Pipeline sales were $79,896 for the
six months ended March 31, 2005 and $90,681 for the six months ended March 31,
2004, a decrease of $10,785, or 11.9%, due to an increase in prices and a
decrease in volume. Interest and other revenue of $10,802 for the six months
ended March 31, 2005 decreased from $15,776 for the six months ended March 31,
2004 primarily due to a decrease in yield on bonds currently held when compared
to the yield received from bonds that matured in fiscal 2004. A bond was sold at
a loss of $125 for the six months ended March 31, 2005 compared to $1,275 gain
for the six months ended March 31, 2004. Oil and gas and pipeline operating

                                       16

<PAGE>



Item 2.  Financial Statements (Continued).

RESULTS OF OPERATIONS (CONTINUED)

costs increased $10,000 for the six months ended March 31, 2005 when compared to
March 31, 2004 primarily due to increased fuel cost, water disposal fees and
expensing of a bonus to field personnel.

     General and administrative expenses totaled $112,878 for the six months
ended March 31, 2005, compared to $107,926 for the six-month period ended March
31, 2004. The increase of $4,592 in general and administrative costs was
primarily due to an increase in salaries paid to officers and employees.

     Due to an increase in the average sales price received for our gas and
despite a decline in production volumes, revenue from our oil, gas and pipeline
sales increased for the three months ended March 31, 2005 when compared to the
same period in 2004. While our oil and gas production decreased, the price
received for our natural gas increased from an average of $3.58 per MCF for the
three months ended March 31, 2004 compared to an average of $4.13 per MCF for
the three months ended March 31, 2005, a 15.4% increase. Oil and gas sales
increased $9,274, from $94,202 to $103,476. Pipeline sales were $41,523 for the
three months ended March 31, 2005 and $43,947 for the three months ended March
31, 2004, a decrease of $2,424, or 5.5%, due primarily to increased prices which
was partially offset by decreased production. Interest and other revenue of
$2,559 for the three months ended March 31, 2005 decreased from $9,391 for the
three months ended March 31, 2004 primarily due to a decrease in yield on bonds
currently held when compared to the yield received from bonds that matured in
fiscal 2004. A bond was reclassified as a return of principal from sale of bonds
resulting in a loss of $749 for the three months ended March 31, 2004. Oil and
gas and pipeline operating costs increased 32.2% and 18.5%, respectively,
primarily due to salary and fuel increases when comparing the three months ended
March 31, 2005 to March 31, 2004.

     General and administrative expenses totaled $41,027 for the three months
ended March 31, 2005, compared to $43,226 for the three month period ended March
31, 2004. The increase of $2,199, or 5%, in general and administrative costs was
primarily due to an increase in salaries paid to officers and employees.

CONTRACTUAL OBLIGATIONS

     We have no long-term contractual obligations as of March 31, 2005.

     We lease our corporate offices in Denver, Colorado under the terms of an
operating lease, which expired on December 31, 2004. We are currently leasing
the office space on a month-to-month basis. 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 $2,073
per month or $24,876 per year.

                                       17

<PAGE>



Item 2.  Financial Statements (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 2005
is $9,000 and was paid in January 2005. If we elect to continue the lease in
2006, the lease payment for that year will be $10,000.

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 Condensed
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 costs. 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 to 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.

                                       18

<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.

     We have held preliminary discussions with our independent accountants with
respect to our future compliance with Section 404 of the Sarbanes-Oxley Act of
2002. We understand the Securities and Exchange Commission is considering
certain relief measures for small business issuers. In the meantime, we intend
to continue our discussions with our independent accountants to determine
whether we have, and wish to devote, the management and financial resources
required to comply with the referenced Section 404. If not, we may elect to
suspend our reporting obligations under the Securities Exchange Act of 1934
because we have fewer than 300 shareholders.

                                       19
<PAGE>



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

ITEM 1.  LEGAL PROCEEDINGS.

          N/A

ITEM 2.  UNREGISTERED SALES OF SECURITIES AND USE OF PROCEEDS.

          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.

               No reports on Form 8-K were filed by the issuer during the
               quarter ended March 31, 2005. On April 20, 2005, the issuer filed
               a report on Form 8-K stating that Stewart A. Jackson, a director,
               had resigned that position as of January 17, 2005.

                                       20
<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:  May 9, 2005                   By:  /s/ A.G. Foust
                                        ----------------------------------------
                                         A.G. Foust, President
                                         (Chief Executive Officer, Principal
                                         Financial and Accounting Officer) and
                                         a Director

                                       21

<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.

                                       22