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 June 30, 2003

[ ]  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: 4,869,000 shares of common stock were
outstanding at August 12, 2003.

Transitional Small Business Disclosure Format (Check One):

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


<PAGE>


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                                      INDEX

                                                                     Page Number
                                                                     -----------
PART I.       FINANCIAL INFORMATION

     Item 1.  Condensed Consolidated Balance Sheets as of                    2
              June 30, 2003 and September 30, 2002

              Condensed Consolidated Statements of Operations                4
              for the Three and Nine Months ended
              June 30, 2003 and 2002

              Condensed Consolidated Statements of Cash Flows                5
              for the Nine Months ended
              June 30, 2003 and 2002

              Notes to Consolidated Financial Statements                     6

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

     Item 3.  Controls and Procedures                                       15

PART II.      OTHER INFORMATION

              Signatures                                                    18

              Exhibits                                                      19

                                       1

<PAGE>
<TABLE>
<CAPTION>


Item 1. Financial Statements.


                      MONUMENT RESOURCES, INC. AND SUBSIDIARY
                       CONDENSED CONSOLIDATED BALANCE SHEETS

         ASSETS

                                                          June 30,      September 30,
                                                            2003            2002
                                                         (Unaudited)      (Audited)
                                                         ----------      ----------
Current assets
         <S>                                             <C>             <C>
         Cash and cash equivalents                       $  196,190      $   54,064
         Investment in securities, at market                500,465         300,743
         Accounts receivable - legal and insurance           39,968         110,195
         Account receivable                                  40,766          24,373
         Prepaid expense                                      4,553          15,148
                                                         ----------      ----------

Total current assets                                        781,942         504,523
                                                         ----------      ----------

Mineral properties                                           38,706          38,706
Proved and unproved oil and gas
         properties, successful efforts method
         net of accumulated depletion                       468,258         564,334

Property and equipment:
         Gas pipeline, net of
           accumulated depreciation                         154,385         161,685
         Property and equipment, net of
           accumulated depreciation                          43,345          44,045
                                                         ----------      ----------

Net property and equipment                                  197,730         205,730

Investments in securities, at market                         14,029          47,800
                                                         ----------      ----------

Total assets                                             $1,500,665      $1,361,093
                                                         ==========      ==========


See Notes to Consolidated Financial Statements.

                                        2
</TABLE>

<PAGE>


Item 1.  Financial Statements. (Continued)


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                      CONDENSED CONSOLIDATED BALANCE SHEETS

LIABILITIES AND STOCKHOLDERS' EQUITY

                                                       June 30,    September 30,
                                                        2003           2002
                                                     (Unaudited)     (Audited)
                                                     -----------    -----------

Current liabilities
         Accounts payable and accrued expenses       $    44,238    $    41,497
                                                     -----------    -----------

Total current liabilities                                 44,238         41,497
                                                     -----------    -----------

Stockholders' equity:
Preferred Stock, no par value, authorized
         1,000,000 shares; none issued                      --             --
Common Stock, no par value, authorized
         10,000,000 shares; 4,869,000 issued
         and outstanding on June 30, 2003
         and September 30, 2002                        3,167,782      3,167,782
Accumulated deficit                                   (1,734,070)    (1,894,931)
Unrealized gain on investment in securities               22,715         46,745
                                                     -----------    -----------

Total stockholders' equity                             1,456,427      1,319,596
                                                     -----------    -----------

Total liabilities and stockholders' equity           $ 1,500,665    $ 1,361,093
                                                     ===========    ===========


See Notes to Consolidated Financial Statements.

                                       3

<PAGE>
<TABLE>
<CAPTION>


Item 1.  Financial Statements. (Continued)


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



                                                               Three Months                Nine Months
                                                              Ended June 30,              Ended June 30,
                                                            2003          2002           2003          2002
                                                        -----------   -----------    -----------   -----------
Revenue
         <S>                                            <C>           <C>            <C>           <C>
         Oil and gas sales                              $    72,909   $    38,010    $   264,539   $   118,481
         Pipeline income                                     30,609        29,297        120,194        87,721
         Interest and other                                   3,623           620         11,751        14,718
         Gain on sale of securities                           1,396           824          1,502         4,929
                                                        -----------   -----------    -----------   -----------
                  Total revenue                             108,537        68,751        397,986       225,849
                                                        -----------   -----------    -----------   -----------

Expenses
         Oil and gas operating expense                       14,243        12,123         45,716        40,098
         Pipeline operating expense                          25,342        26,328         95,443        96,195
         General and administrative                          38,255        66,573        135,720       200,394
         Depletion, depreciation and amortization            11,300        18,370         34,100        55,270
                                                        -----------   -----------    -----------   -----------

                  Total expenses                             89,140       123,394        310,979       391,957
                                                        -----------   -----------    -----------   -----------

Operating income (loss)                                      19,397       (54,643)        87,007      (166,108)
Legal settlement                                               --            --           73,855          --
                                                        -----------   -----------    -----------   -----------



Net income (loss)                                       $    19,397   $   (54,643)   $   160,862      (166,108)
                                                        ===========   ===========    ===========   ===========
Basic income (loss) per common share                    $      --     $      (.01)   $       .03   $      (.03)
                                                        ===========   ===========    ===========   ===========

Diluted income (loss) per common share                  $      --     $      (.01)   $       .03   $      (.03)
                                                        ===========   ===========    ===========   ===========

Weighted average number of shares outstanding             4,869,000     4,869,000      4,869,000     4,869,000
                                                        ===========   ===========    ===========   ===========

Diluted weighted average number of shares outstanding     5,109,789     4,869,000      5,109,789     4,869,000
                                                        ===========   ===========    ===========   ===========


See Notes to Consolidated Financial Statements.

                                                      4
</TABLE>

<PAGE>


Item 1.  Financial Statements. (Continued)

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



                                                              Nine Months
                                                             Ended June 30,
                                                           2003          2002
                                                         ---------    ---------
Cash flows from operating activities:
Net income (loss)                                        $ 160,862    $(166,108)
Adjustment to reconcile net income (loss) to net
   cash provided (used) by operating activities:
         Depreciation, depletion and amortization           34,100       55,270
         Gain on sale of securities                         (1,502)      (4,929)
Changes in operating assets and liabilities:
         Decrease in prepaid expense                        10,595       20,138
         Decrease in accounts receivable                    53,834       26,841
         Increase (decrease) in accounts payable and
           accrued expense                                   2,741       (3,732)
         (Increase) in insurance proceeds                     --        (13,216)
                                                         ---------    ---------

Net cash flow provided (used) by operations                260,630      (85,736)
                                                         ---------    ---------

Cash flows from investing activities:

   Proceeds from sale of oil and gas properties             90,000         --
   Proceeds from sale of investment securities             261,396      156,256
   Additions to oil and gas properties                     (15,125)     (49,355)
   Additions to office equipment                            (4,900)        --
   Purchase of investment securities                      (449,875)        --
                                                         ---------    ---------

Net cash flows provided (used) by
   investing activities                                   (118,504)     106,901
                                                         ---------    ---------

Net increase in cash and cash equivalents                  142,126       21,165

Cash and cash equivalents at beginning of period            54,064        9,203
                                                         ---------    ---------

Cash and cash equivalents at end of period               $ 196,190    $  30,368
                                                         =========    =========


Schedule of Non-cash Investing Activities

Decrease in unrealized gain
    on securities available for sale                     $ (24,030)   $ (31,202)
                                                         =========    =========


See Notes to Consolidated Financial Statements

                                       5

<PAGE>


Item 1.  Financial Statements. (Continued)


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

NOTE 1 -- ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

THE COMPANY

     Monument Resources, Inc, (the "Company") was organized under the laws of
the State of Colorado on October 1, 1984. We are in the business of acquiring
and brokering mineral and oil and gas properties and exploring, developing, and
selling production from our oil and gas properties. Our mineral property is in
Montana. Our oil and gas properties are in Webb and Knox counties, Texas,
Leavenworth County, Kansas and Kimball County, Nebraska. We also operate a gas
pipeline in conjunction with our Leavenworth gas wells.

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

BASIS OF PRESENTATION

     The accompanying financial statements are unaudited. However, in our
opinion, the accompanying financial statements reflect all adjustments,
consisting of only normal recurring adjustments, necessary for fair
presentation. Interim results of operations are not necessarily indicative of
results for the full year. These financial statements should be read in
conjunction with our Annual Report on Form 10-KSB for the year ended September
30, 2002.

     Except for the historical information contained in this Form 10-QSB, this
Form contains forward-looking statements that involve risks and uncertainties.
Our actual results could differ materially from those discussed in this Report.
Factors that could cause or contribute to such differences include, but are not
limited to, those discussed in this Report and any documents incorporated herein
by reference, as well as the Annual Report on Form 10-KSB for the year ended
September 30, 2002.

CONSOLIDATION

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

                                       6

<PAGE>


Item 1.  Financial Statements. (Continued)


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

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

REVENUE RECOGNITION

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

EARNINGS PER SHARE

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

     The following is a reconciliation of the numerators and denominators used
in the calculations of our basic and diluted earnings (loss) per share for the
nine months ended June 30, 2003:


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

Basic earnings per share:
     Net income (loss)
     and share amounts            $ 160,862       4,869,000      $    .03

Dilutive securities:
     Stock options                     --           240,789           --
                                  ---------       ---------      ---------
Diluted earnings per share:
     Net income and
      assumed share conversion    $ 160,862       5,109,789      $     .03
                                  =========       =========      =========

     Because of net losses for the nine months ended June 30, 2002, the basic
and dilutive average outstanding shares are considered the same, since including
the shares would have an anti-dilutive effect on the loss per share calculation.

                                       7

<PAGE>


Item 1.  Financial Statements. (Continued)


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

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

MINERAL PROPERTIES

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

OIL AND GAS PROPERTIES

     We follow the successful efforts method of accounting for oil and gas
activities. Under this accounting method, costs associated with the acquisition,
drilling and equipping of successful exploratory and development wells are
capitalized. Geological and geophysical costs, delay rentals and drilling costs
of unsuccessful exploratory wells are charged to expense as incurred. Depletion
and depreciation of the capitalized costs for producing oil and gas properties
are provided by the unit-of-production method based on proved oil and gas
reserves. Undeveloped and unproved properties are periodically assessed for
possible impairment due to unrecoverability of costs invested. Developed and
proved properties are periodically assessed under the accounting rules of SFAS
No. 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 nine-month period ended
June 30, 2003 since the net income will be offset by net operating loss
carryforwards. We had $1,421,946 of such carryforwards at September 30, 2002.

SFAS NO. 143

     On October 1, 2002, we 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 are currently assessing the
impact of this statement and, at this time, cannot reasonably estimate the
effect of the adoption of SFAS No. 143 on our position, results of operations or
cash flows.

                                       8

<PAGE>


Item 1.  Financial Statements. (Continued)


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

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

NEW ACCOUNTING PRONOUNCEMENTS

     SFAS No. 146, "Accounting for Costs Associated with Exit or Disposal
Activities," was issued in October 2002 and establishes revised accounting rules
for recording a liability for costs associated with an exit or disposal activity
when such liability has occurred rather than when a company has committed itself
to the exit or disposal activity. SFAS No. 146 is effective for exit or disposal
activities initiated after December 31, 2002 and are not expected to have an
effect on the Company's financial position or results of operations given the
Company's current operating activities.

     SFAS No. 147, "Acquisitions of Certain Financial Institutions," was issued
in December 2002 and is not expected to apply to the Company's current or
planned activities.

     In December 2002, the FASB approved Statement of Financial Accounting
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. The Company will continue to account for stock
based compensation using the methods detailed in the stock-based compensation
accounting policy.

     In April 2003, the FASB approved SFAS No. 149, "Amendment of Statement 133
on Derivative Instruments and Hedging Activities". SFAS No. 149 is not expected
to apply to the Company's current or planned activities.

     In June 2003, the FASB approved SFAS No. 150, "Accounting for Certain
Financial Instruments with Characteristics of both Liabilities and Equity" (SFAS
No. 150). SFAS No. 150 establishes standards for how an issuer classifies and
measures certain financial instruments with characteristics of both liabilities
and equity. This Statement is effective for financial instruments entered into
or modified after May 31, 2003, and otherwise is effective at the beginning of
the first interim period beginning after June 15, 2003. SFAS No. 150 is not
expected to have an effect on the Company's financial position.

                                       9

<PAGE>


Item 1.  Financial Statements. (Continued)


                     MONUMENT RESOURCES, INC. AND SUBSIDIARY
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (CONTINUED)
NOTE 2 -- ESTIMATES AND RISKS

     The mining and oil and gas industries are subject, by their nature, to
environmental hazards and cleanup costs for which we carry catastrophe
insurance. At this time, we know of no substantial costs from environmental
accidents or events for which we may be currently liable. In addition, our oil
and gas business makes us vulnerable to changes in wellhead prices of crude oil
and natural gas. Such prices have been volatile in the past and can be expected
to be volatile in the future. By definition, proved reserves are based on
current oil and gas prices. Price declines reduce the estimated proved reserves
and increase annual amortization expense (which is based on proved reserves).

NOTE 3 -- STOCK OPTIONS

         The following schedule summarizes information with respect to options
granted under our equity plans:
                                        Number              Weighted Average
                                          of                Exercise Price of
                                        Shares              Shares Under Plans
                                        ------              ------------------

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

NOTE 4 -- SEGMENT INFORMATION

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

     Identified assets by industry are those assets that are used in our
operations in each industry. Corporate assets are principally cash, investment
securities, furniture, and fixtures.

     We have adopted SFAS No. 131, which requires the presentation of
descriptive information about reportable segments which is consistent with that
made available to us in order to assess performance.

                                       10

<PAGE>
<TABLE>
<CAPTION>


Item 1.  Financial Statements. (Continued)


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

NOTE 4 -- SEGMENT INFORMATION (CONTINUED)

     Our oil and gas segment derives its revenues from the sale of oil and gas.
Our mining segment receives its revenues primarily from the sale of minerals and
precious metals and from time to time from the sale of a mineral venture that it
has originated. Corporate income is primarily derived from interest income on
our funds held in money market accounts and the sale of securities. Our pipeline
segment derives revenue from the sale of natural gas from our gas fields in
Leavenworth County, Kansas.

     During the nine months ended June 30, 2003, we had no inter-segment
revenues. The accounting policies applied by each segment are the same as those
we use in general.

     Net sales to one customer of our gas transmission pipeline segment totaled
$351,659, or approximately 94% of our revenues for the nine months ended June
30, 2003.

     There have been no differences from our last annual report in the bases of
measuring segment profit or loss. There have been no material changes in the
amount of assets for any of our operating segments since the last annual report.

Segment information for the nine months ended June 30, 2003 and 2002 is as
following:

                           Oil and Gas         Pipeline       Mining       Corporate       Consolidated
                           -----------         --------       ------       ---------       ------------
<S>                       <C>                <C>             <C>          <C>               <C>
Revenues
     2003                 $    264,539       $  120,194      $     --     $   13,253        $  397,986
     2002                      118,481           87,721            --         19,647           225,849

Income (Loss)
From Operations
     2003                 $    197,623       $   17,451      $     --     $  (54,212)       $  160,862
     2002                       36,573          (21,934)           --       (180,747)         (166,108)

Identifiable Assets
     2003                 $    486,343       $  260,379      $   38,706   $  715,237        $1,500,665
     2002                      580,969          225,408          53,616      426,784         1,286,777

Depreciation, Depletion
and Valuation Charged
to Identifiable Assets
     2003                 $     21,200       $    7,300      $     --     $    5,600        $   34,100
     2002                       41,810           13,460            --           --              55,270

Capital Expenditures
     2003                 $     15,125       $     --        $     --     $    4,900        $   20,025
     2002                       49,355             --              --           --              49,355

                                                   11
</TABLE>

<PAGE>


Item 1.  Financial Statements. (Continued)


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


NOTE 5 -- OIL AND GAS ACTIVITIES

KANSAS GAS PROJECT -- LEAVENWORTH COUNTY, KANSAS

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

     During the quarter ended December 31, 2002, we acquired an additional five
gas wells near our pipeline system. Construction of from three to six miles of
new pipeline will be required to connect the new wells. This construction most
likely will take place during the fall of 2003.

     No recompletions were conducted in the Leavenworth gas project during the
three months ended June 30, 2003. Results are being evaluated from the
recompletions conducted in prior periods and we expect a modest increase in gas
volumes and reserves.

GALVAN RANCH GAS PROJECT - WEBB COUNTY, TEXAS

     On of June 1, 2003, we sold our 15% working interest in the Galvan Ranch
Gas Project to a third party. We received a cash payment of $90,000 and were
released of any well plugging obligations relating to the project. The proceeds
were used to reduce the carrying costs of the property. In addition, we retained
our 2% overriding royalty interest on the project.

                                       12

<PAGE>


Item 2.  Financial Statements.


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


LIQUIDITY AND CAPITAL RESOURCES

     As of June 30, 2003, we had $781,942 in current assets and $44,238 in
current liabilities, resulting in a positive working capital of $737,704. This
compares to $504,523 and $41,497 in current assets and liabilities at September
30, 2002 for a working capital balance of $463,026. The working capital increase
of $274,678, or 59%, was the result of net income less depreciation, depletion
and amortization totaling $194,962, proceeds from sale of oil and gas properties
of $90,000, purchase of oil and gas properties of $15,125, purchase of equipment
of $4,900 and increase in the value of securities of $9,741.

     During the nine months ended June 30, 2003, we settled a lawsuit relating
to the Galvan Ranch property in Webb County, Texas. The lawsuit was settled on
terms acceptable to us and we netted $73,855 after legal, expert witness and
other litigation expenses.

     During the quarter ended June 30, 2003, we sold our 15% working interest in
the Galvan Ranch Property in Webb County, Texas for $90,000. The proceeds were
used to reduce the carrying cost in the property. We have retained a 2% net
overriding royalty interest in the Galvan Ranch Property.

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

     Although we intend to use joint venture or equity funding to explore,
acquire and, if warranted, develop our properties, the natural resource business
is nevertheless capital intensive. We continue to seek joint venture financing
for our properties and to acquire properties with near-term revenue generating
capability. Our efforts to evaluate, identify and/or acquire such
revenue-generating prospects and to further develop our existing properties have
been ongoing during this past year, and, while we are optimistic, there is no
assurance that we will be successful in securing the required capital.

RESULTS OF OPERATIONS

     Due to an increase in sales prices received for our gas, revenue from our
oil, gas and pipeline sales increased significantly for the nine months ended
June 30, 2003 when compared to the same period in 2002. While our production
decreased 4.6%, the price received for our natural gas increased from an average

                                       13

<PAGE>
<TABLE>
<CAPTION>


Item 2.  Financial Statements (Continued)


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


RESULTS OF OPERATIONS (CONTINUED)

of $1.56 per MCF for the nine months ended June 30, 2002 compared to an average
of $3.40 per MCF for the nine months ended June 30, 2003, a 118% increase. Oil
and gas sales increased 123%, or $146,058, from $118,481 to $264,539. Pipeline
sales were $120,194 for the nine months ended June 30, 2003 and $87,721 for the
nine months ended June 30, 2002, an increase of $32,473, or a 37% increase due
primarily to increased gas prices. Interest and Other of $11,751 decreased from
$14,718 primarily due to a decrease in yield on bonds currently held when
compared to the yield received from bonds that matured in fiscal 2002. Three
bonds were redeemed for a gain of $1,502 for the nine months ended June 30, 2003
compared to a gain of $4,929 for the nine months ended June 30, 2002. Oil and
gas and pipeline operating costs remained relatively constant when comparing the
nine months ended June 30, 2003 to June 30, 2002.

     General and administrative expenses totaled $135,720 for the nine months
ended June 30, 2003, compared to $200,394 for the nine-month period ended June
30, 2002. The decrease of $64,674 in general and administrative costs was
primarily due to the elimination of litigation expense relating to the Galvan
Ranch property located in Webb County, Texas which was settled in November 2002.

CONTRACTUAL OBLIGATIONS

     We had only one contractual obligation as of June 30, 2003. The following
table lists our significant liabilities at June 30, 2003:

                                                                      Payments Due by Period
                                                  Less than
Contractual Obligations                           1 year       2-3 years   4-5 years   After 5 years    Total
--------------------------------------            --------     ---------   ---------   -------------    -----


<S>                                               <C>           <C>        <C>           <C>           <C>
Operating leases                                  $  6,228      $    -0-   $    -0-      $    -0-      $  6,228
                                                  --------      --------   --------      --------      --------

Total contractual cash obligations                $  6,228      $    -0-   $    -0-      $    -0-      $  6,228
                                                  ========      ========   ========      ========      ========

     We lease our corporate offices in Denver, Colorado under the terms of an
operating lease, which expires on December 31, 2003. Yearly payments under the
lease are approximately $12,456.

     We have an operating lease on a gas compressor that we use in our pipeline
operation. The lease is renewable on a month-to-month basis at a rate of $2,053
per month or $24,600 per year.

     We also lease a compressor site from a third party. We can cancel the lease
upon thirty - day written notice. The lease payment for the calendar year 2003
is $7,000 and was paid in January 2003. If we elect to continue the lease in
2004, the lease payment for that year will be $8,000.

                                       14
</TABLE>

<PAGE>


Item 2.  Financial Statements (Continued)

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


CRITICAL ACCOUNTING POLICIES AND ESTIMATES

     We believe the following critical accounting policies affect our more
significant judgments and estimates used in the preparation of our Consolidated
Financial Statements.

Reserve Estimates:

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

     Many factors will affect actual net cash flows, including:

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

                                       15

<PAGE>


Item 2.   Financial Statements (Continued)


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


CRITICAL ACCOUNTING POLICIES AND ESTIMATES (CONTINUED)

Property, Equipment and Depreciation:

     We follow the successful efforts method of accounting for oil and gas
properties. Under this method all productive costs incurred in connection with
the exploration for and development of oil and gas reserves are capitalized.
Such capitalized costs include lease acquisition, geological and geophysical
work, delay rentals, drilling, completing and equipping oil and gas wells,
including salaries, benefits and other internal salary related costs directly
attributable to these activities. Costs associated with production and general
corporate activities are expensed in the period incurred. Interest costs related
to unproved properties and properties under development are also capitalized to
oil and gas properties. If the net investment in oil and gas properties exceeds
an amount equal to the sum of (1) the standardized measure of discounted future
net cash flows from proved reserves, and (2) the lower of cost or fair market
value of properties in process of development and unexplored acreage, the excess
is charged to expense as additional depletion. Normal dispositions of oil and
gas properties are accounted for as adjustments of capitalized costs, with no
gain or loss recognized.

ITEM 3.  CONTROLS AND PROCEDURES

     The Company's management evaluated, with the participation of the Company's
chief executive and financial officer, the effectiveness of the Company's
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 the Company's disclosure controls and procedures are effective to
ensure that information required to be disclosed by the Company in the reports
that it files or submits 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 the Company's internal control over financial
reporting that occurred during the Company's last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, the
Company's internal control over financial reporting.

                                       16

<PAGE>


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


ITEM 1.   LEGAL PROCEEDINGS.

          N/A

ITEM 2.   CHANGES IN SECURITIES.

          N/A

ITEM 3.   CONTROLS AND PROCEDURES.

          N/A

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

          N/A

ITEM 5.   OTHER INFORMATION.

          N/A

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K.

          (a)  Exhibit 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.

                                       17

<PAGE>


Part II   OTHER INFORAMTION


                                   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:  August12, 2003                       By:  /s/  A.G. Foust
                                               --------------------------------
                                                      A.G. Foust, President
                                                     (Chief Executive Officer,
                                                      Principal Financial and
                                                      Accounting Officer) and
                                                      a Director

                                       18

<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.

                                       19