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, 2001

[   ]    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 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: 4,869,000 shares of common stock were
outstanding at May 11, 2001.

Transitional Small Business Disclosure Format (Check One):

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

<PAGE>



                    MONUMENT RESOURCES, INC. AND SUBSIDIARIES
                                      INDEX

                                                                     Page Number
                                                                     -----------

PART I.           FINANCIAL INFORMATION

         Item 1.    Consolidated Balance Sheets as of                     2
                    March 31, 2001 and September 30, 2000

                    Consolidated Statements of Operations                 4
                    for the Six Months ended
                    March 31, 2001 and 2000

                    Consolidated Statements of Cash Flows                 5
                    for the Six Months ended
                    March 31, 2001 and 2000

                    Notes to Consolidated Financial Statements            6

         Item 2.    Management's Discussion and Analysis of              19
                    Financial Condition and Results of Operations

PART II.          OTHER INFORMATION                                       21


<PAGE>


Item 1.  Financial Statements.


                    MONUMENT RESOURCES, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

               ASSETS

                                                         March 31, September 30,
                                                          2001         2000
                                                        (Unaudited)
                                                        ----------  ------------
Current assets
         Cash                                           $  163,578    $   78,831
         Investment in securities                          374,976       192,003
         Accounts receivable                                92,316        56,560
         Note receivable (see Note 4)                       14,001        27,660
         Prepaid expense                                     3,229        10,425
                                                        ----------    ----------

Total current assets                                       648,100       365,479
                                                        ----------    ----------

Mineral properties                                          92,718        92,718
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depreciation                   641,434       659,786

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                        170,755       183,022
         Property and equipment, net of
           accumulated depreciation                         23,936        31,072
                                                        ----------    ----------

Net property and equipment                                 194,691       214,094

Investments in securities, at market                        57,492        60,991
                                                        ----------    ----------

Total assets                                            $1,634,435    $1,393,068
                                                        ==========    ==========




See Notes to Consolidated Financial Statements.

                                       2


<PAGE>



Item 1.  Financial Statements. (Continued)


                    MONUMENT RESOURCES, INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS

LIABILITIES AND STOCKHOLDERS' EQUITY

                                                      March 31,    September 30,
                                                        2001           2000
                                                     (Unaudited)
                                                     -----------    ------------
Current liabilities
         Accounts payable and accrued expenses       $    26,004    $     6,948
                                                     -----------    -----------

Total current liabilities                                 26,004          6,948
                                                     -----------    -----------

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 September 30, 2000
         and March 31, 2001                            3,167,782      3,167,782
Accumulated deficit                                   (1,616,435)    (1,834,595)
Unrealized gain on investment in securities               57,084         52,933
                                                     -----------    -----------

Total stockholders' equity                             1,608,431      1,386,120
                                                     -----------    -----------

Total liabilities and stockholders' equity           $ 1,634,435    $ 1,393,068
                                                     ===========    ===========










See Notes to Consolidated Financial Statements.

                                       3
<PAGE>
<TABLE>
<CAPTION>


Item 1.  Financial Statements. (Continued)


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

                                                                            Three Months                        Six Months
                                                                           Ended March 31,                    Ended March 31,
                                                                        2001             2000              2001              2000
                                                                   -----------------------------       ----------------------------
<S>                                                               <C>                <C>               <C>              <C>
Revenue
         Oil and gas sales                                         $   128,353       $    52,615       $   185,324      $   100,203
         Pipeline income                                               142,145            39,911           266,273           75,250
         Interest and other                                              4,383             2,077             7,338            5,837
         Gain (loss) on stock sale                                        (740)             --               5,883             --
                                                                   -----------------------------       ----------------------------

                  Total                                                274,141            94,603           464,818          181,290
                                                                   -----------------------------       ----------------------------

Expenses
         Oil and gas operating expense                                  17,023            12,264            57,830           52,634
         Pipeline operating expense                                     25,891            23,883            52,541           45,946
         General and administrative                                     38,543            34,199            89,164           82,985
         Dryhole cost                                                     --                --                --             20,968
         Mineral property write off                                       --              25,120              --             25,120
         Depletion, depreciation and amortization                       23,530           272,812            47,123          300,624
                                                                   -----------------------------       ----------------------------

                  Total                                                104,987           368,278           246,658          528,277
                                                                   -----------------------------       ----------------------------

Net income (loss)                                                  $   169,154       $  (273,675)      $   218,160      $  (346,987)
                                                                   =============================       ============================
Basic income (loss) per common share                               $       .03       $      (.06)      $       .04      $      (.07)
                                                                   =============================       ============================
Diluted income (loss) per common share                             $       .03       $      (.06)      $       .04      $      (.07)
                                                                   =============================       ============================
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                4,869,000         4,869,000         4,869,000        4,869,000
                                                                   =============================       ============================








See Notes to Consolidated Financial Statements.


                                       4
<PAGE>


Item 1.  Financial Statements. (Continued)

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

                                                                           Six Months Ended March 31,
                                                                         2001                     2000
                                                                      ----------------------------------
Cash flows from operating activities:
Net income (loss)                                                     $ 218,160                $(346,987)
Items not affecting cash:
         Depreciation, Depletion and Amortization                        47,123                  300,625
         Write off mineral properties                                      --                     25,120
         Gain on sale of securities                                      (5,883)                    --
Changes in operating assets and liabilities:
         Decrease in prepaid expense                                      7,196                    7,666
         Increase in accounts receivable                                (22,097)                  (7,261)
         Increase (Decrease) in accounts payable and
           accrued expense                                               19,056                   (7,554)
                                                                      ---------                ---------

Net cash flow from operations                                           263,555                  (28,391)
                                                                      ---------                ---------

Cash flows from investing activities:

Proceeds from sale of investment securities                                --                       --

Proceeds from bond investment                                           190,000                   44,906

Additions to oil and gas properties                                      (9,368)                  (2,863)

Investment in bond fund                                                (359,440)                    --
                                                                      ---------                ---------

Net cash flows from (to) investing activities:                         (178,808)                  42,043
                                                                      ---------                ---------

Cash flows from financing activities:

Repurchase of common stock                                                 --                       --
                                                                      ---------                ---------

Net cash flows from financing activities                                   --                       --
                                                                      ---------                ---------

Net increase in cash                                                     84,747                   13,652

Cash at beginning of period                                              78,831                   20,029
                                                                      ---------                ---------

Cash at end of period                                                 $ 163,578                $  33,681
                                                                      =========                =========

Schedule of Non-cash Investing Activities

Increase (Decrease) in unrealized gain
         on securities available for sale                             $   4,151                $ (14,289)
                                                                      =========                =========

See Notes to Consolidated Financial Statements

                                                        5

</TABLE>

<PAGE>


Item 1.  Financial Statements. (Continued)

                    MONUMENT RESOURCES, INC. AND SUBSIDIARIES
                   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. The Company is in the business of
acquiring and brokering mineral and oil and gas properties and exploring,
developing, and selling production from its oil and gas properties. The
Company's oil and gas properties are in Webb and Knox counties, Texas,
Leavenworth County, Kansas and Kimball County, Nebraska. The Company also
operates a gas pipeline in conjunction with its Leavenworth gas wells. The
Company's mineral properties are in Montana and British Columbia, Canada.

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

CONSOLIDATION

     The accompanying consolidated financial statements include the accounts of
the Company, its wholly owned Canadian subsidiary, formed for the purpose of
owning real property in British Columbia, and its wholly owned Kansas
subsidiary, COG Transmission Corporation, acquired in 1996. All intercompany
transactions and balances have been eliminated in consolidation.

STATEMENT OF CASH FLOWS

     For statement of cash flow purposes, the Company considers short-term
investments with original maturities of three months or less to be cash
equivalents. Cash restricted from use in operations beyond three months is not
considered a cash equivalent.


                                       6

<PAGE>


Item 1.  Financial Statements. (Continued)

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

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

MANAGEMENT'S USE OF ESTIMATES

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

IMPAIRMENT OF LONG-LIVED ASSETS

     The Company evaluates the carrying value of assets, other than investments
in marketable securities, for potential impairment on an ongoing basis under the
tenets of SFAS No. 121, "Accounting for the Impairment of Long-Lived Assets and
for Long-Lived Assets to be Disposed Of," effective 1995. Under SFAS No. 121,
the Company periodically evaluates the carrying value of long-lived assets and
long-lived assets to be disposed of and certain identifiable intangibles and
goodwill related to those assets for potential impairment. The Company considers
projected future operating results, cash flows, trends and other circumstances
in making such estimates and evaluations and reduces the carrying value of
impaired assets to fair value.

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

     The Company follows the successful efforts method of accounting for its 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

                                       7
<PAGE>



Item 1.  Financial Statements. (Continued)

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

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


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.

PROPERTY, EQUIPMENT, AND GAS PIPELINE

     Depreciation of property and equipment are expensed in amounts sufficient
to relate the expiring costs of depreciable assets to operations over estimated
service lives, principally using the straight-line method. Estimated service
lives range from three to eight years. The Company's gas pipeline is being
depreciated on units-of-gas production method based on the production of the gas
wells served by the pipeline. When such assets are sold or otherwise disposed
of, the cost and accumulated depreciation are removed from the accounts and any
resulting gain or loss is reflected in operations in the period realized.

INCOME TAXES

     The Company has made no provision for income taxes for the three-month
period ended March 31, 2001 since it utilizes net operating loss carryforwards.
The Company had $1,284,000 of such carryforwards at September 30, 2000.

INVESTMENTS IN SECURITIES

     The Company follows SFAS No. 115, "Accounting for Certain Investments in
Debt and Equity Securities," in accounting for its security investments. In
accordance with SFAS No. 115, the Company's investments in securities have 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 in the balance sheet with an equal
amount representing unrealized gains recorded as a component of stockholders'
equity. The current market value is derived from published newspaper quotations
as of March 31, 2001, and September 30, 2000. 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)

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

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

FINANCIAL INSTRUMENTS

Concentration of Credit Risk
----------------------------

     Financial instruments, which potentially subject the Company to significant
concentrations of credit risk, consist principally of cash, trade receivables
and investments in securities.

     The Company maintains cash with various financial institutions. The Company
periodically evaluates the financial standing of these institutions and believes
the credit risk to be minimal.

     The Company has recorded trade accounts receivable from the business
operations. The Company periodically evaluates the collectibility of trade
receivables and believes the receivables to be fully collectible and the credit
risk to be minimal.

     The Company's investment in U.S. Government securities and other corporate
bonds is subject to moderate price volatility due to interest rate changes;
however, realization of these investments has minimal risk. The Company's
investment in common stock of two companies is subject to substantial price
volatility due to the nature of Canadian stock markets, the nature of the
extractive industries business and variations in the Canadian dollar exchange
rate.

Fair Value
----------

     The carrying amount of the Company's financial instruments is equivalent to
their fair value as follows:

     Cash and cash equivalents -- The carrying amount approximates fair value
     because of the short maturities of these instruments.

     Marketable securities -- The carrying amounts approximate the fair value
     because the securities are valued at the market prices based on published
     trading price information and was accounted for using the available for
     sale accounting method.

                                       9

<PAGE>




Item 1.  Financial Statements. (Continued)

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

NOTE 2 -- ESTIMATES AND RISKS

     The process of preparing financial statements in conformity with generally
accepted accounting principles requires the use of estimates and assumptions
regarding certain types of assets, liabilities, revenues and expenses. Such
estimates primarily relate to impairments of mineral and oil and gas properties,
oil and gas reserves and future dismantlement, restoration and abandonment
costs. The actual future results in the above areas may differ from the
estimated amounts.

     Financial statement accounts, which potentially subject the Company to
concentrations of credit risk, consist primarily of cash and investments in
securities. The Company attempts to deposit its cash with high quality financial
institutions in amounts less than the federal insurance limit of $100,000 in
order to limit credit risk. The Company's investment in bonds is considered to
have minimum credit risk since they are primarily U.S. government instruments.
The Company's investments in common stock are considered to have substantial
credit risk since the stock is in companies without a long history of successful
operations and whose market values are variable and cyclical.

     The mining and oil and gas industries are subject, by their nature, to
environmental hazards and cleanup costs for which the Company carries
catastrophe insurance. At this time, management knows of no substantial costs
from environmental accidents or events for which it may be currently liable. In
addition, the Company's oil and gas business makes it 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 quantity of proved reserves and increase annual amortization expense
(which is based on proved reserves).

NOTE 3 -- INVESTMENTS IN SECURITIES

     The Company has recorded its investment in 75,000 shares of Southern Africa
Minerals Corporation ("SAMC") (Toronto Exchange), a Canadian company, and
380,000 shares of PlayFair Mining, Ltd. ("PlayFair") (formerly LayField
Resources, Inc.) (Vancouver Exchange), a Canadian company, at fair value in
accordance with SFAS No. 115, "Accounting for Certain Investments in Debt and
Equity Securities." During the quarters ended March 31, 2001 and 2000, the
Company sold no shares of stock. Based on the demonstrated liquidity and
marketability of the PlayFair and SAMC shares, and in accordance with SFAS No.
115, the Company has recorded its investments in the stocks based on published
market listings and on the closing bid price in the stocks' respective
exchanges. These shares are classified by the

                                       10

<PAGE>


Item 1.  Financial Statements. (Continued)

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

NOTE 3 -- INVESTMENTS IN SECURITIES (CONTINUED)

Company as available for sale and non-current, since such sale may not
necessarily be consummated in the near term.

     The Company's investment in debt securities consists of various U.S.
government financial instruments and other corporate bonds. The Company
considers these bonds to be currently available for sale and has no timetable
for sale or redemption. Nevertheless, the Company does not expect to hold the
bonds to maturity.

Investments in securities are summarized as follows at March 31, 2001:

                                                      Unrealized         Fair
                                                      Gain (Loss)        Value
                                                      ----------        --------
Available-for-sale securities:
     Common stock                                       $ 55,089        $ 57,492
     Debt securities
      (maturing in 1 to 21 years)                          1,995         374,976
                                                        --------        --------

                                                        $ 57,084        $432,468
                                                        ========        ========

Investments in securities are summarized as follows at September 30, 2000:

                                                     Unrealized          Fair
                                                     Gain (Loss)         Value
                                                     ----------        ---------
Available-for-sale securities:
     Common stock                                     $  58,588        $  60,991
     Debt securities
      (maturing in 1 to 18 years)                        (5,655)         192,003
                                                      ---------        ---------

                                                      $  52,933        $ 252,994
                                                      =========        =========

NOTE 4 -- NOTE RECEIVABLE

     Pursuant to a Note and Deed of Trust effective July 1, 1999, the Company
sold its interest in the East Voss property in Knox County, Texas. The purchaser
was required to pay us the sum of $40,000 plus interest in three installments of
$14,350 on June 27, 2000, September 30, 2000 and December 30, 2000. The first
two payments were made, however the final payment due December 30, 2000 was
renegotiated in the amount of $12,500 and was received by the Company on April
10, 2001.

                                       11

<PAGE>


Item 1.  Financial Statements. (Continued)

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

NOTE 5 -- MINERAL PROPERTIES

DOBLER PROSPECT, BROADWATER COUNTY, MONTANA

     The Dobler prospect, with capitalized costs of $59,520 at March 31, 2001,
and September 30, 2000, consists of 80 acres of fee simple land (including
minerals) and mineral rights to the 280 surrounding acres. The Company is trying
to locate joint venture opportunities to further explore the property and has
considered selling the property. Alternative uses of the mineral property are
supplying flux to a nearby smelter or selling the property as ranch land. The
property's value as ranch land or as a homesite approximates the Company's
capitalized costs in the prospect.

WISCONSIN MINE PROPERTY, BRITISH COLUMBIA, CANADA

     The Company's Wisconsin Mine Property consists of two patented gold mining
claims covering approximately 64 acres. An alternative use for the property is
the sale for its real estate value. The fair value of the property approximates,
at minimum, the capitalized cost of $33,198 at March 31, 2001, and September 30,
2000.

ALL MINERAL PROPERTIES

     Total mineral costs for all properties capitalized were $92,718 as of March
31, 2001, and September 30, 2000.

                                       12



<PAGE>


Item 1.  Financial Statements. (Continued)

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

NOTE 6 -- PROPERTY AND EQUIPMENT

     The following is a summary of property and equipment at cost, less
accumulated depreciation:

                                                     March 31,     September 30,
                                                       2001            2000
                                                    (Unaudited)
                                                    ----------     -------------

Land                                                 $  12,500        $  12,500
Machinery and equipment                                 77,885           77,885
                                                     ---------        ---------
     Total                                              90,385           90,385

Less:  Accumulated depreciation                        (66,449)         (59,313)
                                                     ---------        ---------

     Net property and equipment                         23,936           31,072
                                                     ---------        ---------

Pipeline                                               300,000          300,000

Less:  Accumulated depreciation                       (129,245)        (116,978)
                                                     ---------        ---------

     Net pipeline                                      170,755          183,022
                                                     ---------        ---------

     Net property and equipment                      $ 194,691        $ 214,094
                                                     =========        =========


     Depreciation expense charged to operations was $9,670 for the second
quarter ended March 31, 2001 and $38,804 for the fiscal year ended September 30,
2000.

     The useful lives of property and equipment for purposes of computing
depreciation are:

         Machinery and equipment       5 years
         Pipeline                      Useful life of related gas production,
                                       approximately 5 to 7 years


                                       13
<PAGE>



Item 1.  Financial Statements. (Continued)

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

NOTE 7 -- STOCKHOLDERS' EQUITY

     The Company's amended Articles of Incorporation authorize the issuance of
1,000,000 shares of preferred stock with no par value. The preferred stock may
be issued from time to time with such designation, rights, preferences and
limitations as the Board of Directors may determine by resolution. As of March
31, 2001, no shares of preferred stock had been issued.

NOTE 8 -- STOCK OPTION PLANS

     During 2000, the Company adopted a new Stock Option Plan (the "2000 Plan").
The exercise price of the shares covered by options granted pursuant to the 2000
Plan may not be less than the fair market value of the common stock on the grant
date. Further, the exercise price shall not be less than 110% of the fair market
value of the common stock on the day of grant if the optionee owns 10% or more
of the Company's common stock. With respect to each individual option granted
under the 2000 Plan, the Board of Directors will determine separately the number
of shares, the option period, and the limitations which will apply to the
exercise of options. As of March 31, 2001, the Company had an aggregate of
750,000 common shares reserved for issuance under the 2000 Plan. Additionally,
as of March 31, 2001, options to purchase 450,000 common shares had been granted
to three board members, an employee and a consultant.

     The Company applies SFAS No. 123 in accounting for options granted to
consultants. Accordingly, the fair value of each option granted to the
consultant is estimated on the date of grant using the Black-Scholes
option-pricing model with the following weighted average assumptions: no
dividend yield, expected volatility of 100%, risk free interest rates of 8.5%
and expected lives of 5 years. Based on the model, $3,572 of compensation
expense was recorded at September 30, 2000 for the grant of options to the
consultant in conformity with SFAS No. 123 requirements.


                                       14

<PAGE>


Item 1.  Financial Statements. (Continued)

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

NOTE 8 -- STOCK OPTION PLANS (CONTINUED)

     The following schedule summarizes information with respect to options
granted under the Company's equity plans:

                                              Number        Weighted Average
                                                of         Exercise Price of
                                              Shares      Shares Under Plans
                                              ------      ------------------

Outstanding March 31, 2000                    450,000        $       .15
Granted                                          --                 --
Exercised                                        --                 --
Forfeited or expensed                            --                 --
                                              -------        -----------
Outstanding September 30, 2000                450,000                .15
Granted                                          --                 --
Exercised                                        --                 --
Forfeited or expensed                            --                 --
                                              -------        -----------
Outstanding March 31, 2001                    450,000        $       .15
                                              =======        ===========

     The Company applies APB 25 in accounting for options granted to employees
and directors.

NOTE 9 -- SEGMENT INFORMATION

     The Company operates 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 the
Company's operations in each industry. Corporate assets are principally cash,
investment securities, furniture, and fixtures.

     During fiscal 1999, the Company adopted SFAS No. 131, "Disclosures about
Segments of an Enterprise and Related Information." The adoption of SFAS No. 131
requires the presentation of descriptive information about reportable segments
which is consistent with that made available to the management of the Company to
assess performance.


                                       15

<PAGE>


Item 1.  Financial Statements. (Continued)

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

     The oil and gas segment derives its revenues from the sale of oil and gas.
The 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
funds held in money market accounts and the sale of securities. The pipeline
segment derives revenue from the sale of natural gas from the Company's gas
field in Leavenworth, Kansas.

     During the six months ended March 31, 2001, there were no intersegment
revenues. The accounting policies applied by each segment are the same as those
used by the Company in general.

     Net sales to one customer of the gas transmission pipeline segment totaled
$364,177 or approximately 77% of revenues for the six months ended March 31,
2001 and net sales to one customer of the oil and gas sales segment totaled
$50,945 or approximately 11% of revenues for the quarter.

     There have been no differences from the 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 operating segment since the last annual report.




                                       16
<PAGE>
<TABLE>
<CAPTION>


Item 1.  Financial Statements. (Continued)

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

NOTE 9 -- SEGMENT INFORMATION (CONTINUED)

     For the Six Months Ended March 31, 2001 and 2000 Segment information consists of the following:


                            Oil and Gas        Pipeline       Mining       Corporate        Consolidated
                            -----------        --------       ------       ---------        ------------

<S>                         <C>                <C>            <C>          <C>              <C>
Revenues
     2001                     $185,324          266,273             --         13,221        $   464,818
     2000                      100,203           75,250             --          5,837            181,290

Income (Loss)
From Operations
     2001                     $ 99,774          195,960             --       (77,574)        $   218,160
     2000                     (252,702)           7,983        (25,120)      (77,148)           (346,987)

Identifiable Assets
     2001                     $696,550          228,346         92,718        616,821        $ 1,634,435
     2000                      759,330          226,219         92,718        392,958          1,471,225

Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2001                     $ 27,720           17,772             --          1,631        $    47,123
     2000                      279,303           21,321         25,120             --            325,744

Capital Expenditures
     2001                     $  9,368               --             --             --        $     9,368
     2000                        2,863               --             --             --              2,863
</TABLE>



NOTE 10 -- OIL AND GAS ACTIVITIES

GALVAN RANCH PROPERTY, WEBB COUNTY, TEXAS

     The Company recorded a $245,000 write down of the undeveloped portion of
the property for the year ended September 30, 2000. This write down was due to
the failure of the property's operator to continue the leases on nearly 68,000
acres without proper notice to the Company and thus the Company was deprived of
the opportunity to develop these leases. In February 2001, the Company filed a
lawsuit in Federal Court in Texas against the former operator alleging breach of
contract and claiming damages.


                                       17
<PAGE>



Item 1.  Financial Statements. (Continued)

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

NOTE 10 -- OIL AND GAS ACTIVITIES (CONTINUED)

KANSAS GAS PROJECT -- LEAVENWORTH COUNTY, KANSAS

     During the quarter ended March 31, 2001, the Company reevaluated a number
of its wells in the Leavenworth gas project. The Company plans to re-complete
from 3 to 8 wells this summer in the upper and lower McLouth formation. As past
results have been positive, the Company believes the new work should result in a
moderate increase in gas volumes and reserves. In late March 2001 there was a
fire at a compressor site that totally destroyed one of the Company's field
compressors. The loss is covered by insurance, but a number of production days
were lost until a rental compressor could be located and installed. The Company
does not believe that it will sustain any material loss due to this fire.

EAST VOSS OIL PROPERTY -- KNOX COUNTY, TEXAS

     The Company sold its interest in the East Voss property as of July 1, 1999.
On April 10, 2001, the purchasers of the property made the final renegotiated
cash payment of $12,500 which was originally due on December 31, 2000. In
addition, the Company received back royalties of approximately $5,600 it was due
for the East Voss property. The Company has the right to receive a 7 1/2%
overriding royalty on all future production from the property.





                                       18
<PAGE>


Item 2. Financial Statements.

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

LIQUIDITY AND CAPITAL RESOURCES

     As of March 31, 2001, the Company had a total of $163,578 in cash and
$622,096 in working capital compared to $78,831 in cash and working capital of
$358,531 at September 30, 2000. This represents an increase of $84,747 in cash
primarily because of an increase in the price received for natural gas. The
working capital increase was also the result of greatly improved prices received
from the sale of oil and gas while operating costs remained constant.

     During the balance of the fiscal year, the Company plans to invest a modest
amount of its working capital to recomplete a number of gas wells in the
Leavenworth, Kansas Gas Project. If successful, the recompletion of the gas
wells should generate an increase in cash flow and working capital in future
quarters.

     At the present time, the Company's primary source of cash for operations
and exploration is its current working capital, cash which can be raised by
selling shares held for investment or its investment in U.S. government treasury
securities and other corporate bonds and funds derived from its oil and gas
operations. Any inability of the Company to raise additional capital through
liquidation of its securities holdings or obtain third-party funding may limit
development of some of its properties. Although the Company may use joint
venture or equity funding to explore, acquire and, if warranted, develop its
properties, the natural resource business is nevertheless very capital intensive
and there is no assurance that the Company will be successful in securing the
required capital.

RESULTS OF OPERATIONS

     Revenue from oil, gas and pipeline sales increased significantly for the
quarter ended March 31, 2001. This increase was due primarily to increases in
the price the Company received for its natural gas. Oil and gas sales increased
144% or $75,738, from $52,615 to $128,353 because of increases in the price the
Company receives for its oil and gas. Pipeline sales were $39,911 during the
quarter ended March 31, 2000 and $142,146 for the quarter ended March 31, 2001,
an $102,235 or 256% increase also because of the significant increase in market
price for natural gas. Interest income increased by $2,305, or 111%, due to the
large increase in investment in bonds. The Company realized a loss of $740 on
sales of bonds in the quarter ended March 31, 2001. Oil and gas and pipeline
operating costs increased approximately $6,767 or 19% from March 31, 2000 to
March 31, 2001. This small increase was the result of the ongoing workover
program being conducted on our Kansas properties.


                                       19

<PAGE>


Item 2.  Financial Statements.

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

RESULTS OF OPERATIONS (CONTINUED)

     General and administrative expenses totaled $89,164 for the six months
ended March 31, 2001, compared to $82,985 for the six months ended March 31,
2000. The fairly constant general and administrative costs when comparing the
two periods reflects management's continuing efforts to contain costs whenever
possible.




                                       20
<PAGE>


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

ITEM 1.        LEGAL PROCEEDINGS

               On February 13, 2001 the Company filed suit against RME Petroleum
               Company (formerly known as Union Pacific Resources Company) in
               Federal District Court for the Southern District of Texas. The
               Company alleged that RME unlawfully and without proper notice to
               the Company assigned and later relinquished leasehold rights to
               approximately 68,000 acres in southwest Texas known as the Galvan
               Ranch prospect. The Company believes that the relinquishment
               deprived it of a significant development opportunity and seeks
               damages from RME for its breach of contract. RME has filed a
               general denial and the case is being set for pre-trial motions,
               discovery and, if appropriate, trial.

ITEM 2.        CHANGES IN SECURITIES

               N/A

ITEM 3.        DEFAULTS UPON SENIOR SECURITIES

               N/A

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

               N/A

ITEM 5.        OTHER INFORMATION

               N/A

ITEM 6.        EXHIBITS AND REPORTS ON FORM 8-K

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


                                       21

<PAGE>

                    MONUMENT RESOURCES, INC. AND SUBSIDIARIES
                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                   MONUMENT RESOURCES, INC.
                                   (Registrant)


Date:  May 11, 2001                By:  A.G. Foust
                                      ------------------------------------------
                                        A.G. Foust, President
                                        (Chief Executive Officer, Principal
                                        Financial and Accounting Officer) and
                                        a Director



                                       22