UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, DC 20549

                                 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 March 31, 2004

[   ]	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.
       ----------------------------------------------------------------
       (Exact name of small Business Issuer as specified in its charter)

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

              1122 6th Avenue North, Seattle, Washington  98109
              -------------------------------------------------
                  (Address of principal executive offices)

                             206-285-7576
                     ---------------------------
                    (Issuer's telephone number)

                                 Not Applicable
               ----------------------------------------------------
               (Former name, former address and former fiscal year,
                          if changed since last report)

Check whether the issuer (1) filed all reports required to be filed
by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the
issuer was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days  [X] Yes   [ ] No

State the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practicable date:
7,508,500 Shares of $.001 par value Common Stock outstanding as of
May 22, 2004.
                                 -1-
<PAGE>

                      PART 1 - FINANCIAL INFORMATION
Item 1.  Financial Statements

The accompanying un-audited financial statements have been prepared
in accordance with the instructions to Form 10-QSB and, therefore,
do not include all information and footnotes necessary for a
complete presentation of financial position, results of operations,
cash flows, and stockholders' deficit in conformity with generally
accepted accounting principles.  In the opinion of management, all
adjustments considered necessary for a fair presentation of the
results of operations and financial position have been included and
all such adjustments are of a normal recurring nature.  Operating
results for the three months ended March 31, 2004 are not necessarily
indicative of the results that can be expected for the year ending
December 31, 2004.

                                      -2-
<PAGE>


                              DELTA OIL & GAS, INC.
                          (A DEVELOPMENT STAGE COMPANY)


                              FINANCIAL STATEMENTS


                                 MARCH 31, 2004
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)

                                      F-1
<PAGE>
                              DELTA OIL & GAS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                                  BALANCE SHEET
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------
                                                                MARCH 31   DECEMBER 31
                                                                  2004        2003
--------------------------------------------------------------------------------------
<S>                                                            <C>         <C>

ASSETS
CURRENT
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . .  $   1,279   $      63
Accounts receivable . . . . . . . . . . . . . . . . . . . . .      4,599       5,032
                                                               ----------------------
                                                                   5,878       5,095
                                                               ----------------------

OIL AND GAS PROPERTIES, at cost based on full cost accounting
Proved oil and gas properties . . . . . . . . . . . . . . . .    102,346     102,346
Less:  Accumulated depletion. . . . . . . . . . . . . . . . .    102,346     101,074
                                                               ----------------------
                                                                       -       1,272
                                                               ----------------------
OTHER EQUIPMENT
Computer equipment. . . . . . . . . . . . . . . . . . . . . .      1,741       1,741
Less:  Accumulated depreciation . . . . . . . . . . . . . . .      1,741       1,628
                                                               ----------------------
                                                                       -         113
                                                               ----------------------
                                                               $   5,878   $   6,480
=====================================================================================
LIABILITIES
CURRENT
Accounts payable. . . . . . . . . . . . . . . . . . . . . . .  $  30,531   $  27,283
Accrued interest payable. . . . . . . . . . . . . . . . . . .     15,682      13,539
Advances payable. . . . . . . . . . . . . . . . . . . . . . .     79,655      79,655
Due to related party. . . . . . . . . . . . . . . . . . . . .     20,000      20,000
                                                               ----------------------
                                                                 145,868     140,477
PROMISSORY NOTE PAYABLE . . . . . . . . . . . . . . . . . . .     32,968      32,968
                                                               ----------------------
                                                                 178,836     173,445
                                                               ----------------------
STOCKHOLDERS' DEFICIENCY

SHARE CAPITAL
Authorized:
100,000,000 common shares, par value $0.001 per share
25,000,000 preferred shares, par value $0.001 per share

Issued and outstanding:
7,508,500 common shares at March 31, 2004 and
 December 31, 2003. . . . . . . . . . . . . . . . . . . . . .      7,509       7,509

Additional paid-in capital. . . . . . . . . . . . . . . . . .     97,116      97,116

DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE. . . . . . .   (277,583)   (271,590)
                                                               ----------------------
                                                                (172,958)   (166,965)
                                                               ----------------------
                                                               $   5,878   $   6,480
=====================================================================================
</TABLE>
   The accompanying notes are an integral part of these financial statements.

                                       F-2
<PAGE>
                              DELTA OIL & GAS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                             STATEMENT OF OPERATIONS
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


<TABLE>
<CAPTION>

--------------------------------------------------------------------------
                                                               PERIOD FROM
                                                                INCEPTION
                                                                JANUARY 9
                                        THREE MONTHS ENDED       2001 TO
                                              MARCH 31           MARCH 31
                                         2004         2003         2004
--------------------------------------------------------------------------
<S>                                   <C>          <C>          <C>

REVENUE
Oil and gas sales. . . . . . . . . .  $    2,376   $    4,204   $  80,098
                                      ------------------------------------
COSTS AND EXPENSES
Gas operating expenses . . . . . . .       1,563        2,258      28,894
General and administration . . . . .       5,421        9,393     106,010
Depreciation and depletion . . . . .       1,385        1,117      38,584
Impairment of oil and gas properties           -            -      65,503
Dry well costs written off . . . . .           -            -     118,690
                                      ------------------------------------
                                           8,369       12,768     357,681
                                      ------------------------------------

NET LOSS . . . . . . . . . . . . . .  $   (5,993)  $   (8,564)  $(277,583)
==========================================================================

BASIC AND DILUTED NET LOSS PER SHARE  $    (0.01)  $    (0.01)
==============================================================
WEIGHTED AVERAGE NUMBER OF
OUTSTANDING SHARES . . . . . . . . .   7,508,500    7,508,500
==============================================================
</TABLE>
   The accompanying notes are an integral part of these financial statements.

                                       F-3
<PAGE>

                              DELTA OIL & GAS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                             STATEMENT OF CASH FLOWS
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)


<TABLE>
<CAPTION>

-----------------------------------------------------------------------------
                                                                  PERIOD FROM
                                                                    INCEPTION
                                                                    JANUARY 9
                                               THREE MONTHS ENDED    2001 TO
                                                    MARCH 31        MARCH 31
                                                 2004      2003       2004
-----------------------------------------------------------------------------
<S>                                           <C>       <C>        <C>

OPERATING ACTIVITIES
Net loss . . . . . . . . . . . . . . . . . .  $(5,993)  $ (8,564)  $(277,583)

ADJUSTMENTS TO RECONCILE NET LOSS TO
NET CASH USED IN OPERATING ACTIVITIES
Depreciation and depletion . . . . . . . . .    1,385      1,117      38,584
Impairment of oil and gas properties . . . .        -          -      65,503
Dry well costs written off . . . . . . . . .        -          -     118,690

Change in operating assets and liabilities:
Accounts receivable. . . . . . . . . . . . .      433     (2,036)     (4,599)
Accounts payable . . . . . . . . . . . . . .    3,248     (5,374)     30,531
Accrued interest payable . . . . . . . . . .    2,143        825      15,682
                                              -------------------------------
NET CASH FROM (USED IN) OPERATING ACTIVITIES    1,216    (14,032)    (13,192)
                                              -------------------------------

INVESTING ACTIVITIES
Purchase of oil and gas properties . . . . .        -          -    (221,036)
Purchase of other equipment. . . . . . . . .        -          -      (1,741)
                                              -------------------------------
NET CASH USED IN INVESTING ACTIVITIES. . . .        -          -    (222,777)
                                              -------------------------------
FINANCING ACTIVITIES
Issue of common stock. . . . . . . . . . . .        -          -     104,625
Advance from related party . . . . . . . . .        -          -      20,000
Advances payable . . . . . . . . . . . . . .        -     13,359      79,655
Promissory note. . . . . . . . . . . . . . .        -          -      32,968
                                              -------------------------------
NET CASH FROM FINANCING ACTIVITIES . . . . .        -     13,359     237,248
                                              -------------------------------

INCREASE (DECREASE) IN CASH. . . . . . . . .    1,216       (673)      1,279

CASH, BEGINNING OF PERIOD. . . . . . . . . .       63      1,005           -
                                              -------------------------------
CASH, END OF PERIOD. . . . . . . . . . . . .  $ 1,279   $    332   $   1,279
=============================================================================
</TABLE>
   The accompanying notes are an integral part of these financial statements.

                                       F-4
<PAGE>

                              DELTA OIL & GAS, INC.
                          (A DEVELOPMENT STAGE COMPANY)

                          NOTES TO FINANCIAL STATEMENTS

                                 MARCH 31, 2004
                                   (UNAUDITED)
                            (STATED IN U.S. DOLLARS)



1.     BASIS  OF  PRESENTATION

The  unaudited  financial  statements  as of March 31, 2004 included herein have
been  prepared  without  audit  pursuant  to  the  rules  and regulations of the
Securities  and  Exchange  Commission.  Certain  information  and  footnote
disclosures  normally  included  in  financial statements prepared in accordance
with  United States generally accepted accounting principles have been condensed
or  omitted  pursuant  to  such  rules  and  regulations.  In  the  opinion  of
management, all adjustments (consisting of normal recurring accruals) considered
necessary  for  a  fair  presentation  have been included.  It is suggested that
these  financial  statements  be  read in conjunction with the December 31, 2003
audited  financial  statements  and  notes  thereto.


2.     ORGANIZATION  AND  BUSINESS

The  Company  is  a  development  stage, independent natural gas and oil company
engaged  in  the exploration, development and acquisition of natural gas and oil
properties  in  the  United  States.  Delta's entry into the natural gas and oil
business  began  on  February  8,  2001.

The  Company  was  incorporated  as  a  Colorado corporation on January 9, 2001.

                                        F-5
<PAGE>

Item 2.  Management's Discussion and Analysis

Calendar  Year  Ended  December  31,  2002

For  the  year ended  December 31, 2002, we  earned  revenues of $13,382.  These
revenues were down considerably when compared to revenues for the year ended
December 31, 2001.  The decrease came as a result of lower gas  production  from
the  only  producing property in which the Company has an interest  at  the
present  time.

Calendar Year Ended December 31,  2003

For  the  year ended  December 31, 2003, we  earned revenues of $17,029.  These
revenues were up from revenues of $13,382 for the year ended December 31, 2002.
The  increase  came  as a result of increased revenues from the only  producing
property in which the Company has an interest at the present time.
Three month period ended March 31, 2004 and as compared to the three month
period ended March 31, 2003

Quarter ended March 31, 2004

For the three month period ended March 31, 2004, we earned revenues
from gas sales of $2,376.  This was down from the three month
period ended March 31, 2003, during which time we earned revenues
from gas sales of $4,204.  This revenue in both years is revenue from our only
producing property which represents all of the potential revenue the Company
has at this time.  The revenue for the three month period is offset by
operating costs and expenses for the period equal to $6,984.

Liquidity  and  Capital  Resources

At  March 31, 2004,  we  had cash on hand totaling $1,279.
Accordingly the Company  is in need of additional cash in order to
sustain operations.  Despite having some revenue from a producing well,
our operating expenses run in excess of our revenues.  Accordingly, we
need to borrow funds in order to sustain the business operations of
the Company.  We anticipate the need to raise significant capital through
the sale of equity securities on a private or public basis if we are to be
able to participate  in  future  drilling and/or other oil and gas development
projects.  It is  uncertain  whether  we  will  be able to obtain the capital
necessary to further  develop  the  oil  and  gas  interests  of the  Company.

FORWARD LOOKING AND CAUTIONARY STATEMENTS

Except for the historical information and discussions contained herein,
statements contained in this Form 10-QSB may constitute "forward looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements involve a number of risks, uncertainties and other
factors that could cause actual results to differ materially, including the
company's failure to acquire and to develop new oil and gas properties; to
obtain the financing necessary to continue the business operations of the
Company and other risks, uncertainties and factors discussed elsewhere
in this Form 10-QSB or in the Company's other filings with the Securities and
Exchange Commission.

                                      -3-

<PAGE>

ITEM 3.  CONTROLS AND PROCEDURES.

As required by Rule 13a-15 under the Securities Exchange Act of
1934 (the "Exchange Act"), we carried out an evaluation of the
effectiveness of the design and operation of our disclosure
controls and procedures within the 90 days prior to the filing date
of this report.  This evaluation was carried out under the
supervision and with the participation of our Chief Executive
Officer and Chief Financial Officer, Mr. Douglas Bolen.  Based upon
that evaluation, our Chief Executive Officer and Chief Financial
Officer concluded that our disclosure controls and procedures are
effective in timely alerting management to material information
relating to us required to be included in our periodic SEC filings.
There have been no significant changes in our internal controls or
in other factors that could significantly affect internal controls
subsequent to the date we carried out our evaluation.

Disclosure controls and procedures are controls and other
procedures that are designed to ensure that information required to
be disclosed our reports filed or submitted under the Exchange Act
is recorded, processed, summarized and reported, within the time
periods specified in the Securities and Exchange Commission's rules
and forms. Disclosure controls and procedures include, without
limitation, controls and procedures designed to ensure that
information required to be disclosed in our reports filed under the
Exchange Act is accumulated and communicated to management,
including our Chief Executive Officer and Chief Financial Officer,
to allow timely decisions regarding required disclosure.

PART II - OTHER INFORMATION

Item 5.  Other Information

On April 23, 2004, Pamela Starek who had been serving as our principal
executive officer, our principal financial officer and as our sole director
resigned all her positions as an officer and as a director of the Company.
On the same day, Mr. Douglas Bolen was elected to fill each of the vacancies
created by the resignation of Mr. Starek.

Item 6.  Exhibits

31.1     Certification  of CEO and CFO pursuant to Securities Exchange Act rules
         13a-15 and  15d-15(c)  as  adopted pursuant to section 302 of the
         Sarbanes-Oxley act  of  2002.

32.1     Certification  of  CEO  and CFO pursuant  to 18 U.S.C. section 1350, as
         Adopted  pursuant  to  section  906  of  the  Sarbanes-Oxley  act  of
         2002.

                                  -4-
<PAGE>

                                SIGNATURES

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

DELTA OIL & GAS, INC.

Date:  May 22, 2004

By:   /s/ Douglas Bolen
     ------------------------------
     Douglas Bolen
     Principal Executive Officer
     Principal Financial Officer
     Chief Accounting Officer
     Authorized Signatory of Registant

                                     -5-