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, 2006.
                                    ---------------

[ ]  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 []

Indicate by check mark whether the registrant is a shell company as defined in
Rule 12b-2 of the Exchange Act.  Yes  []    No [X]


State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 5,319,000 shares of common stock were
outstanding at May 5, 2006.

Transitional Small Business Disclosure Format (Check One):  Yes  []    No [X]


<PAGE>

                     MONUMENT RESOURCES, INC. AND SUBSIDIARY

                                      INDEX

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

PART I. FINANCIAL INFORMATION

        Item 1. Condensed Consolidated Balance Sheets as of               2
                March 31, 2006 and September 30, 2005 (Audited)

                Condensed Consolidated Statements of Operations           4
                for the Three Months and Six Months ended
                March 31, 2006 and 2005

                Condensed Consolidated Statements of Cash Flows           5
                for the Six Months ended March 31, 2006 and 2005

                Notes to Condensed Consolidated Financial Statements      6

        Item 2. Management's Discussion and Analysis of Financial
                Condition and Results of Operations                      14

        Item 3. Controls and Procedures                                  16

PART II. OTHER INFORMATION                                               18

        Signatures                                                       19

        Exhibit Index                                                    20


<PAGE>


Item 1. Financial Statements.


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                      CONDENSED CONSOLIDATED BALANCE SHEETS


                                                  March 31,   September 30,
                                                   2006          2005
ASSETS                                          (Unaudited)    (Audited)
--------------------------------------------     ----------   ----------
Current assets
         Cash and cash equivalents               $  458,872   $  654,987
         Investment in securities, at market        903,230      416,521
         Accounts receivable                         52,550       47,415
         Prepaid expenses                             6,814       60,599
                                                 ----------   ----------

Total current assets                              1,421,466    1,179,522

Mineral properties                                     --         28,706
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depletion               384,728      392,578

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                 235,623      223,864
         Property and equipment, net of
           accumulated depreciation                 117,844       94,207
                                                 ----------   ----------

Net property and equipment                          353,467      318,071
                                                 ----------   ----------

Total assets                                     $2,159,661   $1,918,877
                                                 ==========   ==========


            See Notes to Condensed Consolidated Financial Statements.

                                        2
<PAGE>



Item 1. Financial Statements. (Continued)


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                      CONDENSED CONSOLIDATED BALANCE SHEETS


                                                  March 31,    September 30,
                                                    2006           2005
LIABILITIES AND STOCKHOLDERS' EQUITY             (Unaudited)     (Audited)
------------------------------------             -----------    -----------
Current liabilities
         Accounts payable and accrued expenses   $    46,243    $    33,104

Asset retirement obligation                           29,001         29,001
                                                 -----------    -----------

Total liabilities                                     75,244         62,105

Stockholders' equity:
Preferred Stock, no par value, authorized
         1,000,000 shares; none issued                  --             --
Common Stock, no par value, authorized
         10,000,000 shares; 5,319,000 issued
         and outstanding on March 31, 2006
         and September 30, 2005                    3,290,518      3,290,518
Accumulated deficit                               (1,188,545)    (1,426,771)
Unrealized (loss) on investment in securities        (17,556)        (6,975)
                                                 -----------    -----------

Total stockholders' equity                         2,084,417      1,856,772
                                                 -----------    -----------

Total liabilities and stockholders' equity       $ 2,159,661    $ 1,918,877
                                                 ===========    ===========

            See Notes to Condensed Consolidated Financial Statements.

                                        3
<PAGE>


Item 1. Financial Statements. (Continued)


<TABLE>
                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
<CAPTION>



                                                               Three Months                Six Months
                                                              Ended March 31,            Ended March 31,
                                                        -------------------------   -------------------------
                                                            2006          2005          2006          2005
                                                        -----------   -----------   -----------   -----------
<S>                                                     <C>           <C>           <C>           <C>
Revenue
         Oil and gas sales                              $   132,417   $   103,476   $   330,665   $   208,230
         Pipeline income                                     41,984        41,523        84,127        79,896
                                                        -----------   -----------   -----------   -----------

                  Total revenue                             174,401       144,999       414,792       288,126
                                                        -----------   -----------   -----------   -----------

Expenses
         Oil and gas operating expense                       23,424        16,667        40,267        29,626
         Pipeline operating expense                          55,404        48,823       101,187        83,235
         General and administrative                          55,128        41,027       124,773       112,878
         Depletion, depreciation and amortization            16,904        12,969        32,042        28,534
                                                                                    -----------   -----------

                  Total Expenses                            150,860       119,486       298,269       254,273
                                                        -----------   -----------   -----------   -----------

Net income from operations                                   23,541        25,513       116,523        33,853

Other income and (expense)
         Loss on sale of securities                            --            --            --            (125)
         Gain on sale of mineral property                   100,359          --         100,359          --
         Interest and other                                   9,085         2,559        21,344        10,802
                                                        -----------   -----------   -----------   -----------

Net income                                              $   132,985   $    28,072   $   238,226   $    44,530
                                                        ===========   ===========   ===========   ===========

Basic income per common share                           $       .03   $       .01   $       .04   $        01
                                                        ===========   ===========   ===========   ===========

Diluted income per common share                         $       .03   $       .01   $       .04   $       .01
                                                        ===========   ===========   ===========   ===========
Weighted average number of shares outstanding             5,319,000     4,569,000     5,319,000     4,569,000
                                                        ===========   ===========   ===========   ===========

Diluted weighted average number of shares outstanding     5,319,000     4,749,000     5,319,000     4,749,000
                                                        ===========   ===========   ===========   ===========

</TABLE>


            See Notes to Condensed Consolidated Financial Statements.

                                        4
<PAGE>



Item 1. Financial Statements. (Continued)


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

                                                     Six Months Ended March 31,
                                                     --------------------------
                                                          2006         2005
                                                       ---------    ---------

Cash flows from operating activities:
Net income                                             $ 238,226    $  44,530
Adjustment to reconcile net income to net
   cash provided by operating activities:
         Depreciation, depletion and amortization         32,042       28,534
         (Gain) on sale of mineral property             (100,359)        --
         Loss on sale of securities                         --            125
Changes in operating assets and liabilities:
         Decrease in prepaid expense                      53,785       10,354
(Increase) in accounts receivable                         (5,135)     (23,851)
         Increase in accounts payable
           and accrued expenses                           13,139        3,850
                                                       ---------    ---------

Net cash flow provided by operations                     231,698       63,542

Cash flows from investing activities:

Proceeds from sale of mineral investment                 129,065         --
Proceeds from sale of investment securities                2,710       54,118
Additions to oil and gas properties                         (675)      (2,158)
Additions to equipment                                   (58,913)     (38,435)
Purchase of investment securities                       (500,000)        --
                                                       ---------    ---------
Net cash flows provided (used) by
   investing activities                                 (427,813)      13,525
                                                       ---------    ---------

Net increase (decrease) in cash                         (196,115)      77,067

Cash and cash equivalents at beginning of period         654,987       51,397
                                                       ---------    ---------

Cash and cash equivalents at end of period             $ 458,872    $ 128,464
                                                       =========    =========


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


Decrease (increase) in unrealized gain (loss)
         on securities available for sale              $ (10,581)   $  16,781
                                                       =========    =========

            See Notes to Condensed Consolidated Financial Statements

                                        5
<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 gas properties. Our mineral property was in Montana.
See Note 5 below. Our gas properties are in Leavenworth County, Kansas. We also
operate a gas pipeline in conjunction with our Leavenworth gas wells.

     We have a substantial investment in oil and gas properties. We may not have
sufficient capital to fully develop some of our 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 development
efforts of some of our properties.

BASIS OF PRESENTATION

     The accompanying condensed consolidated financial statements are unaudited.
However, in the opinion of management, 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, 2005.

     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 in our Annual Report on Form
10-KSB for the year ended September 30, 2005.

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)


REVENUE RECOGNITION

     Sales of oil and gas pfewrddesfcroduction 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 six
months ended:
<TABLE>
<CAPTION>

                                                              March 31,
                                 ---------------------------------------------------------------------
                                                2006                               2005
                                 ---------------------------------   ---------------------------------
                                                            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           $ 238,226   5,319,000   $     .04   $  44,530   4,569,000   $     .01

Dilutive securities:
Stock options                         --             0        --          --       180,000        --
                                 ---------   ---------   ---------   ---------   ---------   ---------

Diluted earnings per share:
     Net income and
      assumed share conversion   $ 238,226   5,319,000   $     .04   $  44,530   4,749,000   $     .01
                                 =========   =========   =========   =========   =========   =========
</TABLE>


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.


                                       7
<PAGE>


Item 1. Financial Statements. (Continued)

OIL AND GAS PROPERTIES

     We follow the successful efforts method of accounting for our oil and gas
activities. Under this 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 is treated as a recovery of cost
and no gain or loss is recognized.

INCOME TAXES

     We have made no provision for income taxes for the six-month period ended
March 31, 2006 since the pre-tax income will be offset by net operating loss
carryforwards. We had approximately $1,559,704 of such carryforwards at March
31, 2006.

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.

COMPREHENSIVE INCOME

     We have adopted SFAS No. 130, "Reporting Comprehensive Income", which
establishes standards for reporting 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.

                                       8
<PAGE>


Item 1. Financial Statements. (Continued)

ASSET RETIREMENT OBLIGATIONS

     We have adopted SFAS No. 143, "Accounting for Asset Retirement
Obligations". SFAS No. 143 addresses financial accounting and reporting for
obligations associated with the retirement of tangible long-lived assets and the
associated asset retirement costs. We have adopted SFAS No. 143 and recorded our
estimated obligations. Quarterly accretion is not material.

STOCK BASED COMPENSATION

     We have adopted SFAS Standards No. 148, "Accounting for Stock-Based
Compensation - Transition and Disclosure" - an amendment of FASB Statement No.
123. SFAS No. 148 amends No. SFAS 123, "Accounting for Stock-Based Compensation"
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. Going forward we will apply the
new rules that apply to stock-based compensation as set out in SFAS 123(R).

CERTAIN 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
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 became effective
for financial statements for fiscal years beginning after June 15, 2005.
Management believes this Statement has not any and will not have any material
impact on our financial statements.

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

                                       9
<PAGE>



Item 1. Financial Statements. (Continued)

     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 this Statement
is issued. Management believes this Statement will have no impact on our
financial statements.

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 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.

     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.

                                       10
<PAGE>


Item 1. Financial Statements. (Continued)

     The notes to the financial statements 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 the effective date will be as of the beginning of the first
interim or annual reporting period that begins after December 15, 2005.
Management has complied with this Statement as of the effective date.


NOTE 2 -- ESTIMATES AND RISKS

     The oil and gas industry is subject, by its 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 -- SEGMENT INFORMATION

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

     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 received its revenues primarily from the sale of a mineral
venture that we had originated. We sold our mineral venture on February 24,
2006. See Note 5. Corporate income is primarily derived from interest income on
our funds held in money market accounts and the sale of government backed bonds.
Our pipeline segment derives revenue from the sale, transportation and
compression of our gas in Leavenworth County, Kansas.

     During the six months ended March 31, 2006, 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
$330,665, or 100% of our revenues for the six months ended March 31, 2006.

                                       11
<PAGE>



Item 1. Financial Statements. (Continued)

     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 our last annual report.

Segment information for the six months ended March 31, 2006 and 2005 is as
follows:

                            Oil
                          and Gas  Pipeline   Mining     Corporate  Consolidated
                         --------  ---------  --------   ---------- ------------
Revenues
     2006                $330,665  $ 84,127   $100,359   $   21,344  $  536,495
     2005                 208,230    79,896       --         10,677     298,803

Net Income (Loss)
     2006                $276,281  $(34,193)  $100,359   $ (104,221) $  238,226
     2005                 162,346   (14,823)      --       (102,993)     44,530


Identifiable Assets
     2006                $458,742  $329,040   $   --     $1,371,879  $2,159,661
     2005                 515,715   257,192     28,706      602,876   1,404,489


Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2006                $ 14,117  $ 17,133   $   --     $      792  $   32,042
     2005                  16,258    11,484       --            792      28,534

Capital Expenditures
     2006                $    675  $ 58,913   $   --     $     --    $   59,588
     2005                    --      38,485       --          2,158      40,643


NOTE 4 -- OIL AND GAS ACTIVITIES

KANSAS GAS PROJECT -- LEAVENWORTH COUNTY, KANSAS

     During the six months ended March 31, 2006, we completed approximately
three miles of gas pipeline necessary to complete the connection of two new gas
wells. These wells are currently producing and should have a positive impact on
our current and future gas production volumes. During the next quarter we also
plan to workover a number of existing gas wells and re-complete them in the
upper McClouth gas zone.

                                       12
<PAGE>


Item 1. Financial Statements. (Continued)


NOTE 5 -- MINERAL ACTIVITIES

DOBLER GOLD MINE PROSPECT -- BROADWAY COUNTY, MONTANA

     On January 15, 2006, we entered into a contract to sell the Dobler Mine
property in Broadway County, Montana for $140,000 less a 6 1/2% commission and
other closing costs. The sale of the mine was closed on February 24, 2006. The
Company recognized a gain on the sale of $100,359.

NOTE 6 -- COMPREHENSIVE INCOME (LOSS)

     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 Condensed Consolidated
Balance Sheet. The table below details the changes during the six months ended
March 31, 2006 and 2005, in our Accumulated Other Comprehensive Income balance
and the components of our comprehensive income.

   Six months ended March  31, 2006
   Accumulated other comprehensive (loss) at September 30, 2005   $ (6,975)

   Change in unrealized (loss) on securities held for sale         (10,581)

                                                                  --------
   Accumulated other comprehensive (loss) at March 31, 2006       $(17,556)
                                                                  ========

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

   Change in unrealized gain on securities held for sale            16,781

                                                                  --------
   Accumulated other comprehensive income at March 31, 2005       $ 32,828
                                                                  ========

                                       13
<PAGE>



Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

LIQUIDITY AND CAPITAL RESOURCES

     At March 31, 2006, our current assets were $1,421,466 and current
liabilities were $46,243 and we had working capital of $1,375,223 compared to
current assets of $1,179,522 at September 30, 2005 and current liabilities of
$33,104 at September 30, 2005, resulting in working capital at September 30,
2005 of $1,146,418. Our working capital increased $228,805, or about 20%. This
increase in working capital is primarily due to earnings.

     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
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.

RESULTS OF OPERATIONS

     Due to an increase in the average sales price received for our gas, revenue
from our gas and pipeline sales increased for the six months ended March 31,
2006 when compared to the same period in 2005. Gas production increased from
52,717 MCF for the period ending March 31, 2005 to 55,301 MCF for the period
ending March 31, 2006. This slight increase of 2,584 MCF was a result of the
addition of two new producing wells. The price received for our natural gas
increased from an average of $4.32 per MCF for the six months ended March 31,
2005 compared to an average of $8.55 per MCF for the six months ended March 31,
2006, a 98% increase. Gas sales increased 59%, or $122,435, from $208,230 to
$330,665. Pipeline sales were $84,127 for the six months ended March 31, 2006
and $79,896 for the six months ended March 31, 2005, an increase of $4,231, or
5%.

     Interest and other revenue increased to $121,703 for the six months ended
March 31, 2006 from $10,677 for the six months ended March 31, 2005 primarily
due to the sale of our mineral property. Oil and gas operating costs increased
$10,641, or 36% from $29,626 to $40,267 when comparing the six months ended
March 31, 2005 to March 31, 2006. Pipeline operating costs were $83,235 for the
six months ended March 31, 2005 and $101,187 for the six months ended March 31,
2006, an increase of $17,952, or 22%. The increases are due to the addition of
two producing wells and start up costs incurred in our new pipeline addition.

     General and administrative expenses totaled $124,773 for the six months
ended March 31, 2006, compared to $112,878 for the six-month period ended March
31, 2005. The increase of $11,895, or 11%, in general and administrative costs
was primarily due to increased legal, accounting and audit fees.

                                       14
<PAGE>



Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

CONTRACTUAL OBLIGATIONS

     We have no contractual obligations as of March 31, 2006.

     We lease our corporate offices in Denver, Colorado 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 $3,345
per month or $40,140 per year.

     We also lease a compressor site from a third party. We can cancel the lease
upon thirty days written notice. The lease payment for the calendar year 2006 is
$10,000 and was paid in January 2006. If we elect to continue the lease in 2007,
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 accumulations of oil and natural gas that are difficult to measure.
The accuracy of any reserve estimate is a function of the quality of available
data, engineering and geological interpretation and judgment. Estimates of
economically recoverable oil and natural gas reserves and future net cash flows
necessarily depend upon a number of variable factors and assumptions, such as
historical production from the area compared with production from other
producing areas, the assumed effects of regulations by governmental agencies and
assumptions governing future oil and natural gas prices, future operating costs,
severance and excise taxes, development costs and workover and remedial costs,
all of which may in fact vary considerably from actual results. For these
reasons, estimates of the economically recoverable quantities of oil and natural
gas attributable to any particular group of properties, classifications of such
reserves based on risk of recovery, and estimates of the future net cash flows
expected there from may vary substantially. Any significant variance in the
assumptions could materially affect the estimated quantity and value of the
reserves, which could affect the carrying value of our oil and gas properties
and/or the rate of depletion of the oil and gas properties. Actual production,
revenues and expenditures with respect our reserves will likely vary from
estimates, and such variances may be material.

                                       15
<PAGE>



Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS (CONTINUED)

        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.

Oil and Gas Properties:

     The Company follows the successful efforts method of accounting for
acquisition, exploration, development and production of its oil and gas
properties. Under this method, all direct costs of acquisition, exploration and
development are capitalized with respect to producing wells and non-producing
development wells. Direct costs with respect to non-producing exploratory wells
are charged to operations. Geological and geophysical costs and lease rentals
are expensed as incurred. Costs to acquire interests in leases are capitalized
and are either transferred to producing properties when the properties become
productive or expensed when the interests are surrendered. Developed and proved
properties are periodically assessed under the accounting rules of Statement of
Financial Accounting Standards ("SFAS") No.144, "Accounting for the Impairment
or Disposal of Long-Lived Asset". Under SFAS No. 144, the Company evaluates
annually the carrying value of long-lived assets and long-lived assets to be
disposed of and certain identifiable intangibles related to those assets for
potential impairment.

     Unproved oil and gas properties represent undeveloped lease acreage held
for development and are recorded at cost. An impairment allowance for unproved
properties is determined on a property-by-property basis under the accounting
rules of SFAS No.19, "Financial Accounting and Reporting by Oil and Gas
Producing Companies".


ITEM 3.  CONTROLS AND PROCEDURES

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

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

                                       16
<PAGE>



ITEM 3. CONTROLS AND PROCEDURES (CONTINUED)

     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.

                                       17
<PAGE>



                     MONUMENT RESOURCES, INC. AND SUBSIDIARY

                          PART II -- OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

          N/A

ITEM 2. UNREGISTERED SALES OF EQUITY 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.

                                       18
<PAGE>


                                   SIGNATURES

     In accordance with the requirements of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                       MONUMENT RESOURCES, INC.
                                       (Registrant)


Date:  May 5, 2006                     By:  /s/ A.G. Foust
                                           -------------------------------------
                                           A.G. Foust, President
                                           (Chief Executive Officer, Principal
                                           Financial and Accounting Officer) and
                                           a Director

                                       19
<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.

                                       20