SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

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

     For the quarterly period ended December 31, 2004

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

     For the transition period from ______________ to _______________

Commission file number   033-15528


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

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


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

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


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.

                                 Yes [X] No [ ]

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 4,569,000 shares of common stock were
outstanding at February 11, 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
                  December 31, 2004 and September 30, 2004

                  Condensed Consolidated Statements of Operations           4
                  for the Three Months ended December 31, 2004 and 2003

                  Condensed Consolidated Statements of Cash Flows           5
                  for the Three Months ended
                  December 31, 2004 and 2003

                  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


                                                       December 31,  September 30,
                                                           2004          2004
ASSETS                                                 (Unaudited)     (Audited)
------                                                 -----------     ---------
<S>                                                     <C>           <C>
Current assets
         Cash and cash equivalents                      $   77,602    $   51,397
         Investment in securities, at market               426,118       478,481
         Accounts receivable                                69,029        28,268
         Prepaid expenses                                   13,727        19,179
                                                        ----------    ----------

Total current assets                                       586,476       577,325

Mineral properties                                          28,706        28,706
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depletion                      438,843       442,015

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                        156,023       157,793
         Property and equipment, net of
           accumulated depreciation                        138,718       113,468
                                                        ----------    ----------

Net property and equipment                                 294,741       271,261

Investments in securities, at market                        24,795        20,021
                                                        ----------    ----------

Total assets                                            $1,373,561    $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


                                                     December 31,   September 30,
                                                        2004           2004
LIABILITIES AND STOCKHOLDERS' EQUITY                 (Unaudited)     (Audited)
------------------------------------                 -----------     ---------

Current liabilities
         Accounts payable and accrued expenses       $    34,844    $    21,843

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

Total liabilities                                         62,413         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 December 31, 2004
         and September 30, 2004                        3,148,018      3,148,018
Accumulated deficit                                   (1,857,691     (1,874,149
Unrealized gain on investment in securities               20,821         16,047
                                                     -----------    -----------

Total stockholders' equity                             1,311,148      1,289,916
                                                     -----------    -----------

Total liabilities and stockholders' equity           $ 1,373,561    $ 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 Ended December 31,
                                                            2004           2003
                                                        -----------    -----------

Revenue
         Oil and gas sales                              $   104,754    $    77,882
         Pipeline income                                     38,373         46,734
         Interest and other                                   8,243          6,385
         Gain (loss) on securities sale                        (125)         2,024
                                                        -----------    -----------

                  Total revenue                             151,245        133,025
                                                        -----------    -----------

Expenses
         Oil and gas operating expense                       12,959         12,114
         Pipeline operating expense                          34,412         37,052
         General and administrative                          71,851         64,700
         Depletion, depreciation and amortization            15,565          9,725
                                                        -----------    -----------

                  Total expenses                            134,787        123,591
                                                        -----------    -----------

Net income                                              $    16,458    $     9,434
                                                        ===========    ===========

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

Diluted weighted average number of shares outstanding     4,749,000      4,866,620
                                                        ===========    ===========










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)

                                                     Three Months Ended December 31,
                                                     -------------------------------
                                                            2004         2003
                                                         ---------    ---------

Cash flows from operating activities:
Net income                                               $  16,458    $   9,434
Adjustment to reconcile net income to net
   cash provided by operating activities:
         Depreciation, depletion and amortization           15,565        9,725
         (Gain) loss on sale of securities                     125       (2,024)
Changes in operating assets and liabilities:
         Decrease in prepaid expense                         5,452        4,465
         (Increase) in accounts receivable                 (40,761)     (12,963)
         Increase (decrease) in accounts payable
         and accrued expenses                               13,001      (29,114)
                                                         ---------    ---------

Net cash flow provided (used) by operations                  9,840      (20,477)
                                                         ---------    ---------

Cash flows from investing activities:

Proceeds from sale of investment securities                 52,238        2,024
Additions to oil and gas properties                         (2,158)     (36,266)
Additions to equipment                                     (33,715)        --
                                                         ---------    ---------
Net cash flows provided  (used) by
   investing activities                                     16,365      (34,242)
                                                         ---------    ---------

Net increase (decrease) in cash                             26,205      (54,719)

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

Cash and cash equivalents at end of period               $  77,602    $  69,380
                                                         =========    =========


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


Decrease (increase) in unrealized gain
         on securities available for sale                $  (4,774)   $   9,040
                                                         =========    =========




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

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

EARNINGS PER SHARE

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

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

                                                           December 31,
                                 ---------------------------------------------------------------
                                              2004                             2003
                                 ------------------------------   ------------------------------
                                                          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           $  16,458   4,569,000   $ --     $   9,434   4,569,000   $ --

Dilutive securities:
     Stock options                             180,000                          297,620
                                 ---------   ---------   ------   ---------   ---------   ------

Diluted earnings per share:
     Net income and
      assumed share conversion   $  16,458   4,749,000   $ --     $   9,434   4,866,620   $ --
                                 =========   =========   ======   =========   =========   ======



                                        7
</TABLE>
<PAGE>

Item 1. Financial Statements. (Continued)

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

MINERAL PROPERTIES

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

OIL AND GAS PROPERTIES

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

INCOME TAXES

     We have made no provision for income taxes for the three-month period ended
December 31, 2004 since the pre-tax accounting 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.

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. The Company has adopted SFAS No. 143 and
recorded its estimated obligations. Quarterly accretion is not material.

STOCK BASED COMPENSATION

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

NEW ACCOUNTING PRONOUNCEMENTS

FASB 151 -  Inventory Costs

     In November 2004, the FASB issued FASB Statement 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

                                        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)

wasted material (spoilage). This Statement requires that these items be
recognized as a current period charge regardless of whether they meet the
criterion specified in ARB 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 the financial statements of the Company once
adopted.

FASB 152 - Accounting for Real Estate Time-Sharing Transactions

     In December 2004, the FASB issued FASB Statement No. 152, which amends FASB
Statement 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
FASB Statement 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 the financial statements of the
Company once adopted.

FASB 153 - Exchanges of Non-monetary Assets

     In December 2004, the FASB issued FASB Statement 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 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 the financial statements of the Company
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 (revised 2004) - Share-Based Payments

     In December 2004, the FASB issued a revision to FASB Statement 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 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 (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 for public entities that do not file as small business
issuers will be as of the beginning of the first interim or annual reporting
period that begins after June 15, 2005. For public entities that file as small
business issuers and nonpublic entities the effective date will be as of the
beginning of the first interim or annual reporting period that begins after
December 15, 2005. Management intends to comply with this Statement at the
scheduled effective date for the relevant financial statements of the Company.

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 December 31, 2004                    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 three months ended December 31, 2004, 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
$97,239, or approximately 90% of our revenues for the three months ended
December 31, 2004.

     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 three months ended December 31, 2004 and 2003 is as
follows:
<TABLE>
<CAPTION>

                         Oil and Gas    Pipeline       Mining      Corporate   Consolidated
                         -----------   ----------    ----------   ----------   ------------
<S>                       <C>          <C>           <C>          <C>           <C>
Revenues
     2004                 $  104,754   $   38,383    $     --     $    8,118    $  151,245
     2003                     77,882       46,734          --          8,409       133,025

Income (Loss)
From Operations
     2004                 $   83,669   $   (2,592)   $     --     $  (64,619)   $   16,458
     2003                     60,668        6,882          --        (58,116)        9,434

Identifiable Assets
     2004                 $  523,088   $  273,112    $   28,706   $  548,655    $1,373,561
     2003                    380,504      237,517        33,706      686,209     1,337,936

Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2004                 $    8,096   $    7,073    $     --     $      396    $   15,565
     2003                      5,100        2,800          --          1,825         9,725

Capital Expenditures
     2004                 $    2,158   $   33,715    $     --     $     --      $   35,873
     2003                     36,242         --            --           --          36,242
</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. This construction has been delayed
due to right-of-way complications.

     During the quarter ended December 31, 2004, we continued to acquire the
right-of-ways needed to construct part of the above pipeline and construction
should start as soon as the weather permits. 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. We are in the process of getting an option release from Montana Mining
Corp. and then we will record it in Broadwater County, Montana. We plan to list
the property for sale as real estate and expect to sell the property 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
December 31, 2004 and 2003, in our Accumulated Other Comprehensive Income
balance and the components of our comprehensive income.

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

Change in unrealized gain on securities held for sale                      4,774

                                                                         -------
Accumulated other comprehensive income at December 31, 2004              $20,821
                                                                         =======

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

Change in unrealized gain on securities held for sale                      9,040

                                                                         -------
Accumulated other comprehensive income at December 31, 2003              $32,791
                                                                         =======


                                       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 December 31, 2004, our current assets were $586,476 and current
liabilities were $34,844 and we had positive working capital of $551,632
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 decreased $3,850, or less
than 1%.

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

Three months ended December 31, 2004 compared to December 31, 2003

     Due to an increase in the average sales price received for our gas and a
small decline in production volumes, revenue from our oil, gas and pipeline
sales increased for the three months ended December 31, 2004 when compared to
the same period in 2003. While our oil and gas production decreased 19.5%, the
price received for our natural gas increased from an average of $2.69 per MCF
for the three months ended December 31, 2003 compared to an average of $4.53 per
MCF for the three months ended December 31, 2004, a 68% increase. Oil and gas
sales increased 34.5%, or $26,782, from $77,882 to $104,754. Pipeline sales were
$38,373 for the three months ended December 31, 2004 and $46,734 for the three
months ended December 31, 2003, a decrease of $8,361, or 17.9%, due to the
increase in prices and a larger portion of the sales price being allocated to

                                       16
<PAGE>

Item 2. Financial Statements (Continued).

RESULTS OF OPERATIONS (CONTINUED)

working and royalty interest owners which effectively reduced the pipeline
sales. Interest and other revenue of $8,243 for the three months ended December
31, 2004 increased from $6,385 for the three months ended December 31, 2003
primarily due to an increase in yield on bonds currently held when compared to
the yield received from bonds that matured in fiscal 2003. A bond was called and
we sold a bond for a loss of $125, which was realized for the three months ended
December 31, 2004 compared to $2,024 gain for the three months ended December
31, 2003. Oil and gas and pipeline operating costs decreased $1,795, or 3.7%
from $49,166 to $47,371 when comparing the three months ended December 31, 2004
to December 31, 2003. These costs remained fairly unchanged when comparing the
two periods.

     General and administrative expenses totaled $71,851 for the three months
ended December 31, 2004, compared to $64,700 for the three-month period ended
December 31, 2003. The increase of $7,151, or 11%, in general and administrative
costs was primarily due to an increase in salaries paid to officers and
employees, increased legal and travel expenses.

CONTRACTUAL OBLIGATIONS

     We have no contractual obligations as of December 31, 2004.

     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.

     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 Consolidated
Financial Statements.

Reserve Estimates:

     Our estimates of oil and natural gas reserves, by necessity, are
projections based on geological and engineering data, and there are
uncertainties inherent in the interpretation of such data as well as the
projection of future rates of production and the timing of development
expenditures. Reserve engineering is a subjective process of estimating
underground accumula- tions of oil and natural gas that are difficult to

                                       17
<PAGE>

Item 2. Financial Statements (Continued).

CRITICAL ACCOUNTING POLICIES AND ESTIMATES (CONTINUED)

Reserve Estimates (Continued):

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

     Many factors will affect actual net cash flows, including:

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

Property, Equipment and Depreciation:

     We follow the successful efforts method of accounting for oil and gas
properties. Under this method all productive costs incurred in connection with
the exploration for and development of oil and gas reserves are capitalized.
Such capitalized costs include lease acquisition, geological and geophysical
work, delay rentals, drilling, completing and equipping oil and gas 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.

                                       18
<PAGE>

Item 2. Financial Statements (Continued).

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. None.



                                       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:  February 11, 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