**FORM      10-QSB**

| [X]                            | Quarterly                Report pursuant to Section 13 or 15(d) of the Securities Exchange                Act of                1934 |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|
|                           |                                                                                                                                 |
|                           | For                the quarterly period ended June                30, 2005                                                           |
|                           |                                                                                                                                 |
| [                  ] | Transition                Report pursuant to 13 or 15(d) of the Securities Exchange Act of                1934                       |
|                           |                                                                                                                                 |
|                           | For                the transition period __________ to                __________                                                     |
|                           |                                                                                                                                 |
|                           | Commission                File Number: 333-82636                                                                                     |

**Delta      Oil & Gas, Inc.**

| Colorado                                                                      | 91-2102350                                       |
|-------------------------------------------------------------------------------|--------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) | (IRS                Employer Identification No.) |

| 1122                6th                Street, Seattle, Washington 98109 |
|--------------------------------------------------------------------------|
| (Address                of principal executive offices)                  |

| 866-355-3644                                                                                                     |
|------------------------------------------------------------------------------------------------------------------|
| (Issuer’s                telephone number)                                                                 |
|  ______________________________________________________________                                             |
| (Former                name, former address and former fiscal year, if changed since last                report) |

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***Table          of Contents***

|                                                   | TABLE                OF CONTENTS                                                                |   Page |
|--------------------------------------------------------|-------------------------------------------------------------------------------------------------|------------------|
| PART                I - FINANCIAL INFORMATION     |
| Item                1:                                 | Financial                Statements                                                        | 3                |
| Item                2:                                 | Management’s                Discussion and Analysis                                  | 4                |
| Item                3:                                 | Controls                and Procedures                                                          | 7                |
|  PART                II - OTHER INFORMATION  |
| Item                1:                                 | Legal                Proceedings                                                           | 9                |
| Item                2:                                 | Unregistered                Sales of Equity Securities and Use of                Proceeds  | 9                |
| Item                3:                                 | Defaults                Upon Senior Securities                                             | 9                |
| Item                4:                                 | Submission                of Matters to a Vote of Security                Holders          | 9                |
| Item                5:                                 | Other                Information                                                           | 9                |
| Item                6:                                 | Exhibits                                                                                        | 10               |

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***Table          of Contents***

**PART      I - FINANCIAL INFORMATION**

**Item      1.** **     Financial      Statements**

| (a)   | Consolidated                Balance Sheet as of June 30, 2005. |
|-----------------|----------------------------------------------------------------|

| (b)   | Consolidated                Statements of Operations for the three and six month periods ended                June                30, 2005 and 2004; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | Consolidated                  Statements of Cash Flow for the six month period ended June 30,                  2005 and                  2004; |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | Consolidated                  Statements of Changes in Stockholders' Equity (Deficiency) for                  period from                  inception, January 9, 2001, to June 30, 2005;                  and |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e)   | Notes                to Consolidated Financial                Statements. |
|-----------------|---------------------------------------------------------------------------|

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***Table          of Contents***

**DELTA        OIL & GAS, INC.**

**(A        Development Stage Company)**

**CONSOLIDATED        BALANCE SHEETS**

**(Unaudited)**

**(Stated        in U.S. Dollars)**

|                                                                                                                      | **JUNE                    30** | DECEMBER                    31 |
|---------------------------------------------------------------------------------------------------------------------------|--------------------------------|--------------------------------|
|                                                                                                                      | **2005**                       | 2004                           |
|                                                                                                                      |                           |                           |   |   |
| **ASSETS**                                                                                                                |                           |                           |   |   |
| **Current**                                                                                                               |                           |                           |   |   |
| Cash                                                                                                                      | **$**                          | **132,542**                    | $ | - |
| Accounts                    receivable                                                                                    |                           | **8,680**                      |   | 7,863 |
| Prepaid                    expenses                                                                                       |                           | **1,057**                      |   | - |
|                                                                                                                      |                           | **142,279**                    |   | 7,863 |
| **Natural                    Gas And Oil Properties**                                                                     |                           |                           |   |   |
| Proved                    property                                                                                        |                           | **1,272**                      |   | 1,272 |
| Unproved                    properties                                                                                    |                           | **1,221,975**                  |   | 50,000 |
|                                                                                                                      |                           | **1,223,247**                  |   | 51,272 |
| **Other                    Equipment**                                                                                    |                           |                           |   |   |
| Computer                    equipment                                                                                     |                           | **3,492**                      |   | 1,741 |
| Less:                    Accumulated depreciation                                                                         |                           | **(1,812)**                    |   | 1,741 |
|                                                                                                                      |                           | **1,680**                      |   | - |
|                                                                                                                      |                           |                           |   |   |
|                                                                                                                      | **$**                          | **1,367,206**                  | $ | 59,135 |
|                                                                                                                      |                           |                           |   |   |
| **LIABILITIES**                                                                                                           |                           |                           |   |   |
| **Current**                                                                                                               |                           |                           |   |   |
| Excess                    of checks issued over funds on deposit                                                          | **$**                          | **-**                          | $ | 5,283 |
| Accounts                    payable                                                                                       |                           | **24,729**                     |   | 16,679 |
| Accrued                    interest payable                                                                               |                           | **-**                          |   | 17,362 |
| Advances                    payable                                                                                       |                           | **-**                          |   | 7,974 |
| Due                    to related party                                                                                   |                           | **-**                          |   | 13,122 |
|                                                                                                                      |                           | **24,729**                     |   | 60,420 |
| **Promissory                    Note Payable**                                                                            |                           | **38,318**                     |   | 37,254 |
| **Subscriptions                    Received**                    (Note 4)                                                 |                           | **383,985**                    |   | - |
|                                                                                                                      |                           | **447,032**                    |   | 97,674 |
| **STOCKHOLDERS’                    EQUITY (DEFICIENCY)**                                                            |                           |                           |   |   |
|                                                                                                                      |                           |                           |   |   |
| **Share                    Capital**                                                                                      |                           |                           |   |   |
| Authorized:                                                                                                               |                           |                           |   |   |
| 100,000,000                    common voting shares, par value $0.001 per share                                           |                           |                           |   |   |
| 25,000,000                    preferred shares, par value $0.001 per share                                                |                           |                           |   |   |
|                                                                                                                      |                           |                           |   |   |
| Issued                    and outstanding:                                                                                |                           |                           |   |   |
| 42,496,750                    common shares at June 30, 2005 and41,296,750                    shares at December 31, 2004 |                           |  **42,497**               |   |  41,297 |
|                                                                                                                      |                           |                           |   |   |
| Additional                    paid-in capital                                                                             |                           | **1,261,868**                  |   | 63,328 |
| Share                    subscriptions received                                                                           |                           | **-**                          |   | 160,000 |
|                                                                                                                      |                           |                           |   |   |
| **Deficit                    Accumulated During The Development Stage**                                                   |                           | **(384,191)**                  |   | (303,164) |
|                                                                                                                      |                           | **920,174**                    |   | (38,539) |
|                                                                                                                      |                           |                           |   |   |
|                                                                                                                      | **$**                          | **1,367,206**                  | $ | 59,135 |

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***Table          of Contents***

**DELTA        OIL & GAS, INC.**

**(A        Development Stage Company)**

**CONSOLIDATED        STATEMENTS OF OPERATIONS**

**(Unaudited)**

**(Stated        in U.S. Dollars)**

|                                                               |                                    |                                  |                     |             | INCEPTION                  |
|--------------------------------------------------------------------|-----------------------------------------|---------------------------------------|--------------------------|------------------|----------------------------|
|                                                               |                                    |                                  |                     |             | JANUARY                  9 |
|                                                               | **THREE                  MONTHS ENDED** | **SIX                  MONTHS ENDED** | 2001                  TO |
|                                                               | **JUNE                  30**            | **JUNE                  30**          | JUNE                  30 |
|                                                               | **2005**                                | 2004                                  | **2005**                 | 2004             | 2005                       |
|                                                               |                                    |                                  |                     |             |                       |   |   |   |   |   |
| **Revenue**                                                        |                                    |                                  |                     |             |                       |   |   |   |   |   |
| Natural                  gas and oil sales                         | **$**                                   | **1,852**                             | $                        | 4,341            | **$**                      | **3,788** | $ | 6,717 | $ | 90,551 |
|                                                               |                                    |                                  |                     |             |                       |   |   |   |   |   |
| **Costs                  And Expenses**                            |                                    |                                  |                     |             |                       |   |   |   |   |   |
| Natural                  gas and oil operating expenses            |                                    |  **1,346**                       |                     |  1,500      |                       |  **2,668** |   |  3,063 |   |  31,972 |
| General                  and administration                        |                                    | **47,250**                            |                     | 10,743           |                       | **82,076** |   | 16,164 |   | 221,194 |
| Depreciation                  and depletion                        |                                    | **71**                                |                     | -                |                       | **71** |   | 1,385 |   | 37,383 |
| Impairment                  of natural gas and oil properties      |                                    |  **-**                           |                     |  -          |                       |  **-** |   |  - |   |  65,503 |
| Dry                  well costs written off                        |                                    | **-**                                 |                     | -                |                       | - |   | - |   | 118,690 |
|                                                               |                                    | **48,667**                            |                     | 12,243           |                       | **84,815** |   | 20,612 |   | 474,742 |
|                                                               |                                    |                                  |                     |             |                       |   |   |   |   |   |
| **Net                  Loss For The Period**                       | **$**                                   | **(46,815)**                          | $                        | (7,902)          | **$**                      | **(81,027)** | $ | (13,895) | $ | (384,191) |
|                                                               |                                    |                                  |                     |             |                       |   |   |   |   |   |
| **Basic                  And Diluted Loss Per Share**              | **$**                                   | **(0.01)**                            | $                        | (0.01)           | **$**                      | **(0.01)** | $ | (0.01) |   |   |
|                                                               |                                    |                                  |                     |             |                       |   |   |   |   |   |
| **Weighted                  Average Number Of Outstanding Shares** |                                    |  **42,074,772**                  |                     |  41,296,750 |                       |  **41,687,910** |   |  41,296,750 |   |   |

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***Table            of Contents***

**DELTA        OIL & GAS, INC.**

**(A        Development Stage Company)**

**CONSOLIDATED        STATEMENTS OF CASH FLOWS**

**(Unaudited)**

**(Stated        in U.S. Dollars)**

|                                                                                                             |                                  |                     | PERIOD                  FROM |
|------------------------------------------------------------------------------------------------------------------|---------------------------------------|--------------------------|------------------------------|
|                                                                                                             |                                  |                     | INCEPTION                    |
|                                                                                                             |                                  |                     | JANUARY                  9   |
|                                                                                                             | **SIX                  MONTHS ENDED** | 2001                  TO |
|                                                                                                             | **JUNE                  30**          | JUNE                  30 |
|                                                                                                             | **2005**                              | 2004                     | 2005                         |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Cash                  Flows Used By Operating Activities**                                                     |                                  |                     |                         |   |   |   |
| Net                  loss for the period                                                                         | **$**                                 | **(81,027)**             | $                            | (13,895) | $ | (384,191) |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Adjustments                  To Reconcile Net Loss To Net Cash Used By Operating                  Activities** |                                  |                     |                         |   |   |   |
| Depreciation                  and depletion                                                                      |                                  | **71**                   |                         | 1,385 |   | 37,383 |
| Impairment                  of natural gas and oil properties                                                    |                                  | **-**                    |                         | - |   | 65,503 |
| Dry                  well costs written off                                                                      |                                  | **-**                    |                         | - |   | 118,690 |
|                                                                                                             |                                  |                     |                         |   |   |   |
| Change                  in operating assets and liabilities:                                                     |                                  |                     |                         |   |   |   |
| Accounts                  receivable                                                                             |                                  | **(817)**                |                         | (641) |   | (8,680) |
| Accounts                  payable                                                                                |                                  | **8,050**                |                         | 7,689 |   | 24,729 |
| Accrued                  interest payable                                                                        |                                  | **(17,362)**             |                         | - |   | - |
| Prepaid                  expenses                                                                                |                                  | **(1,057)**              |                         | - |   | (1,057) |
| **Net                  Cash Used By Operating Activities**                                                       |                                  | **(92,142)**             |                         | (5,462) |   | (147,623) |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Cash                  Flows Used By Investing Activities**                                                     |                                  |                     |                         |   |   |   |
| Purchase                  of natural gas and oil properties                                                      |                                  | **(1,171,975)**          |                         | - |   | (1,443,011) |
| Purchase                  of other equipment                                                                     |                                  | **(1,751)**              |                         | - |   | (3,492) |
| **Net                  Cash Used By Investing Activities**                                                       |                                  | **(1,173,726)**          |                         | - |   | (1,446,503) |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Cash                  Flows From Financing Activities**                                                        |                                  |                     |                         |   |   |   |
| Issue                  of common stock                                                                           |                                  | **1,139,740**            |                         | - |   | 1,304,365 |
| Share                  subscriptions received                                                                    |                                  | **283,985**              |                         | - |   | 383,985 |
| Due                  to related party                                                                            |                                  | **(13,122)**             |                         | 8,445 |   | - |
| Advances                  payable (repaid)                                                                       |                                  | **(7,974)**              |                         | - |   | - |
| Promissory                  note payable                                                                         |                                  | **1,064**                |                         | - |   | 38,318 |
| **Net                  Cash From Financing Activities**                                                          |                                  | **1,403,693**            |                         | 8,445 |   | 1,726,668 |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Increase                  In Cash**                                                                            |                                  | **137,825**              |                         | 2,983 |   | 132,542 |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Cash                  (Excess Of Checks Issued Over Funds On Deposit), Beginning Of                  Period**  |                                  | **(5,283)**              |                         | 63 |   | - |
|                                                                                                             |                                  |                     |                         |   |   |   |
| **Cash,                  End Of Period**                                                                         | **$**                                 | **132,542**              | $                            | 3,046 | $ | 132,542 |

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***Table            of Contents***

**DELTA        OIL & GAS, INC.**

**(A        Development Stage Company)**

**CONSOLIDATED        STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIENCY)**

**PERIOD        FROM INCEPTION, JANUARY 9, 2001, TO JUNE 30, 2005**

**(Unaudited)**

**(Stated        in U.S. Dollars)**

|                                                                         |                              |            |           |              | **DEFICIT**                     |      |
|------------------------------------------------------------------------------|-----------------------------------|-----------------|----------------|-------------------|---------------------------------|-----------|
|                                                                         | **COMMON                  STOCK** | **ACCUMULATED** |           |
|                                                                         | **NUMBER                  OF**    |            | **ADDITIONAL** | **SHARE**         | **DURING                  THE** |      |
|                                                                         | **COMMON**                        | **PAR**         | **PAID-IN**    | **SUBSCRIPTIONS** | **DEVELOPMENT**                 |      |
|                                                                         | **SHARES**                        | **VALUE**       | **CAPITAL**    | **RECEIVED**      | **STAGE**                       | **TOTAL** |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Shares                  issued for cash at $0.00018                          | 13,750,000                        | $               | 13,750         | $                 | (11,250)                        | $         | - | $ | - | $ | 2,500 |
| Shares                  issued for cash at $0.0036                           | 27,500,000                        |            | 27,500         |              | 72,500                          |      | - |   | - |   | 100,000 |
| Shares                  issued for cash at $0.045                            | 46,750                            |            | 47             |              | 2,078                           |      | - |   | - |   | 2,125 |
| Net                  loss for the period                                     | -                                 |            | -              |              | -                               |      | - |   | (184,407) |   | (184,407) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Balance,                  December 31, 2001                                  | 41,296,750                        |            | 41,297         |              | 63,328                          |      | - |   | (184,407) |   | (79,782) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Net                  loss for the year                                       | -                                 |            | -              |              | -                               |      | - |   | (62,760) |   | (62,760) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Balance,                  December 31, 2002                                  | 41,296,750                        |            | 41,297         |              | 63,328                          |      | - |   | (247,167) |   | (142,542) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Net                  loss for the year                                       | -                                 |            | -              |              | -                               |      | - |   | (24,423) |   | (24,423) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Balance,                  December 31, 2003                                  | 41,296,750                        |            | 41,297         |              | 63,328                          |      | - |   | (271,590) |   | (166,965) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Share                  subscriptions received                                | -                                 |            | -              |              | -                               |      | 160,000 |   | - |   | 160,000 |
| Net                  loss for the year                                       | -                                 |            | -              |              | -                               |      | - |   | (31,574) |   | (31,574) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Balance,                  December 31, 2004                                  | 41,296,750                        |            | 41,297         |              | 63,328                          |      | 160,000 |   | (303,164) |   | (38,539) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Shares                  issued for cash at $1.00, net of share issuance cost |  1,200,000                   |            |  1,200    |              |  1,198,540                 |      |  (60,000) |   |  - |   |  1,139,740 |
| Share                  subscriptions received                                | -                                 |            | -              |              | -                               |      | 283,985 |   | - |   | 283,985 |
| Net                  loss for the period                                     | -                                 |            | -              |              | -                               |      | - |   | (81,027) |   | (81,027) |
|                                                                         |                              |            |           |              |                            |      |   |   |   |   |   |
| Balance,                  June 30, 2005                                      | 42,496,750                        | $               | 42,497         | $                 | 1,261,868                       | $         | 383,985 | $ | (384,191) | $ | 1,304,159 |

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***Table            of            Contents***

**DELTA        OIL & GAS, INC.**

**(A        Development Stage Company)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2005**

**(Unaudited)**

**(Stated        in U.S. Dollars)**

| **1.** | **BASIS                  OF PRESENTATION** |
|--------|--------------------------------------------|

| **2.** | **ORGANIZATION                  AND BUSINESS** |
|--------|------------------------------------------------|

| **3.** | **NATURAL                  GAS AND OIL PROPERTIES** |
|--------|-----------------------------------------------------|

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***Table            of Contents***

**DELTA        OIL & GAS, INC.**

**(A        Development Stage Company)**

**NOTES        TO CONSOLIDATED FINANCIAL STATEMENTS**

**JUNE        30, 2005**

**(Unaudited)**

**(Stated        in U.S. Dollars)**

| **3.** | **NATURAL                  GAS AND OIL PROPERTIES**                  (Continued) |
|--------|----------------------------------------------------------------------------------|

| **4.** | **SHARE                  CAPITAL** |
|--------|------------------------------------|

| **5.** | **RELATED                  PARTIES** |
|--------|--------------------------------------|

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***Table          of Contents***

**Item      2.     Management’s Discussion and      Analysis or Plan of Operation**

**Forward-Looking      Statements**

**Management’s      Discussion and Analysis **

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***Table          of Contents***

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***Table          of Contents***

| ·   | Rent                payment in connection the acquisition of additional office                space;  |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | The                creation of information packages available for interested parties                upon                request; and  |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Fees                paid to consultants and outside directors. |
|--------------------|----------------------------------------------------------------|

**Assets**

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***Table          of Contents***

**Liabilities      and Stockholders Deficit **

**Liquidity      and Capital Resources**

**Going      Concern  **

**Revenue      Recognition **

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***Table          of Contents***

**Item      3.     Controls and Procedures**

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***Table          of Contents***

**PART      II - OTHER INFORMATION**

**Item      1.     Legal      Proceedings**

**Item      2.     Unregistered Sales of Equity      Securities and Use of Proceeds**

**Item      3.     Defaults upon Senior      Securities**

**Item      4.     Submission of Matters to a      Vote of Security Holders**

**Item      5.     Other      Information**

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***Table          of Contents***

**Item      6.      Exhibits**

| **Exhibit                Number** | **Description                of Exhibit**                                                                                                                                                                                                                |
|-----------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1                              | Farmout                Agreement relating to Cache Slough Prospect *                                                                                                                                                                                |
| 31.1                              | Certification                of Chief Executive Officer pursuant to                18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |
| 31.2                              | Certification                of Chief Financial Officer pursuant to                18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the                Sarbanes-Oxley Act of 2002                                                           |
| 32.1                              | Certification                of Chief Executive Officer and Chief                Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted                pursuant                to Section 906 of the Sarbanes-Oxley Act of                2002 |

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***Table          of Contents***

**SIGNATURES**

|   | **Delta                Oil & Gas, Inc.**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Date:  | August                10, 2005                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |   By:/s/                  Douglas                Bolen                                                                                                                   Douglas                BolenTitle:                   **Chief                Executive Officer. Chief Financial Officer and Director**  |

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