UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549  FORM 10-Q  (Mark One)  X.Quarterly report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2009.  .Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 (No fee required) for the transition period from _____________ to  _______________.   Commission file number: 000-27693   NOVA ENERGY, INC. (Name of Registrant as Specified in its Charter)   Nevada98-0211769(State of Incorporation)(I.R.S. EmployerIdentification No.)   2050 Russet Way, Ste. 130 Carson City, NV 89703 (Address of principal executive offices) (Zip Code)  (775-720-9411) (Issuer's telephone number)  Indicate by check mark 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 registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes . No X.  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  Large accelerated filer.Accelerated filer.Non-accelerated filer.Smaller reporting companyX.  APPLICABLE ONLY TO CORPORATE ISSUERS:  As of March 31, 2008, the number of the Company's shares of par value $.001 common stock outstanding was 3,422,400.  Transitional Small Business Disclosure format (check one): Yes . No X.    TABLE OF CONTENTS   PagePART IITEM 1.CONDENSED FINANCIAL STATEMENTS3Nova Energy, Inc. Condensed Consolidated Balance Sheets4Nova Energy, Inc. Condensed Consolidated Statements of Operations (Unaudited)5Nova Energy, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited)7ITEM 2.MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION13PART IIITEM 1.LEGAL PROCEEDINGS15ITEM 2.CHANGES IN SECURITIES15ITEM 3.DEFAULTS UPON SENIOR SECURITIES15ITEM 4.SUBMISSION TO A VOTE OF SECURITY HOLDERS15ITEM 5.OTHER15ITEM 6.EXHIBITS AND REPORTS ON FORM 8-K15SIGNATURES16   2                  Nova Energy, Inc. (Exploration Stage Company) Financial Statements March 31, 2009                    3   Nova Energy, Inc. (Exploration Stage Company) Balance Sheets  March 31,June 30,20092008(Unaudited)(Audited)ASSETSCurrent AssetsCash$22,539$103,003Accounts Receivable--Total Current Assets22,539103,003Fixed AssetsEquipment84,92484,924Accumulated Depreciation(60,862)(48,123)Total Fixed Assets24,06236,801Total Assets$46,601$139,804LIABILITIES AND STOCKHOLDERS' EQUITYLiabilitiesCurrent LiabilitiesAccounts Payable$4,064$1,549Accrued Interest149,473106,078Accrued Salaries342,600297,600Convertible Note Payable - related party487,967526,679Total Current Liabilities984,104931,906Long Term Liabilities--Total Long Term Liabilities--Total Liabilities984,104931,906Stockholders' EquityCommon Stock, authorized52,000,000 shares, par value$0.001, 3,422,400 and 3,422,400,respectively, issued and outstanding3,4223,422Paid in Capital511,182511,182Retained Earnings(1,452,108)(1,306,706)Total Stockholders' Equity(937,504)(792,102)Total Liabilities and Stockholders' Equity$$46,601$139,804The accompanying notes are an integral part of these statements   4   Nova Energy, Inc. (Exploration Stage Company) Statements of Operations  December 31,For the Quarter EndedFor the Nine Months Ended2002 (Inception)March 31,March 31,March 31,March 31,March 31,20092008200920082009RevenueProduction Oil/Gas Sales$-$4,633$-$46,615$276,599Cost of Goods SoldProduction Expenses---15,63799,383ExpensesGeneral and Administrative22,55230,89074,20687,947720,363Depreciation4,2464,24612,73812,73860,862Professional Fees8,51247515,0638,60066,409Consulting Fees---3,00054,825Well Re-Development Expense-72,478-72,47872,478Total Expenses35,310108,089102,007184,763974,937Other Income/ExpenseGain/(Loss) on Sale of Assets----(506,589Interest Income----1,675Interest Expense(14,465)(14,465)(43,395)(43,395)(149,473)Provision for Income Taxes-----Net (Loss)$(49775)$(117921)$(145402)$(197180)$(1452108)Basic and Diluted(Loss) per Share(.00)(.00)(.00)(.00)(.00)Weighted AverageNumber of Shares3,422,4003,422,4003,422,4003,422,4003,422,400The accompanying notes are an integral part of these notes   5   Nova Energy, Inc. (Exploration Stage Company) Statements of Stockholders Equity  Common StockPaid inAccumulatedTotalSharesAmountCapitalDeficitEquityBalance, December 31, 20028,034$8$-$(201,575)$(201,567)Balance, June 30, 20038,034$8$-$(201,575)$(201,567)Common Shares issued for services8,966$9$153$-$162Balance, June 30, 200417,000$17$153$(201,575)$(201,405)Common Shares issued for services3,010,0003,01027,090-30,100Shares issued for debt settlement300,0003002,700-3,000Net (Loss)---(69,323)(69,323)Balance, June 30, 20053,327,000$3,327$29,943$(270,898)$(237,628)Net (Loss)(82,953)(82,953)Balance, June 30, 20063,327,000$3,327$29,943$(353,851)$(320,581)July 2006, Paid in Capital50,00050374,950-375,000Sept 2006, Paid in Capital56,45057564,443-564,500Sept 2006, Conv. Promissory Note - D. Bodard--(458,100)-(458,100)Adjustment to agree with stock agent(149)(1)1--Jan 2007, Stock Adjustment--(66)-(66)Net (Loss)---(190,201)(190,201)Balance, June 30, 20073,433,301$3,433$511,171$(544,052)$(29,448)Stock adjustment(10,901)$(11)$11$-$-Net (Loss)---(762,654)(762,654)Balance, June 30, 20083,422,400$3,422$511,182$(1,306,706)$(792,102)Net (Loss)---(145,402)(145,402)Balance, March 31, 20093,422,400$3,422$511,182$(1,452,108)$(937,504)  The accompanying notes are an integral part of these notes  6   Nova Energy, Inc. (Exploration Stage Company) Statements of Cash Flows  For the nineFor the nineDecember 31,months endedmonths ended2002 (Inception)March 31,March 31,to March 31,200920082009Operating ActivitiesNet (Loss)$(145,402)$(197,180)$(1,452,108)Depreciation12,73812,73860,862Increase in Accounts Receivable--1,928-Increase in Accounts Payable2,51472,4874,064Increase in Accrued Expenses88,39588,395492,073Decrease in Accounts Receivable---Decrease in Accounts Payable---Decrease in Accrued Expenses---Increase in Shareholder Payable---Decrease in Shareholder Payable(38,710)(47,781)(76,533)Net Cash (Used) by Operating Activities(80,465)(73,269)(971,642)Investing ActivitiesInvestment - Working Interest---Capital Expenditures---84,924Cash Provided by Investing Activities---84,924Financing ActivitiesConvertible Notes Payable--564,500Proceeds from Contributed Capital--480,271Proceeds from Sale of Common Stock--34,333Cash Provided by Financing Activities--1,079,104Net Increase in Cash(80,465)(73,269)22,539Cash, Beginning of Period103,004127,470-Cash, End of Period$22,539$54,201$22,539Supplemental Information:Interest Paid$-$-$-Income Taxes Paid$-$-$-The accompanying notes are an integral part of these statements   7   NOTES TO FINANCIAL STATEMENTS OF NOVA ENERGY, INC. (EXPLORATION STAGE COMPANY) FOR THE QUARTER ENDING March 31, 2009  NOTE 1 - GENERAL ORGANIZATION AND BUSINESS  Nova Energy, Inc. was incorporated in Nevada 1999, and is a publicly traded company presently listed on www.pinksheets.com, symbol NVAE. The Company is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploration drilling and low risk exploration opportunities in Texas and North Dakota regions.  NOTE 2 - BASIS OF PRESENTATION  The accompanying audited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America.  Management's Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.  Fair Value of Financial Instruments - The carrying amounts of financial instruments including other current assets, accounts payable and other current liabilities approximated fair value because of the immediate short-term maturity of these instruments.  Income Taxes - Income taxes are provided for the tax effects of transactions reported in the financial statements and consist of deferred taxes related primarily to differences between the basis of certain assets and liabilities for financial and tax reporting and net operating loss-carry forwards. Deferred taxes represent the future tax return consequences of those differences, which will either be taxable or deductible when the assets and liabilities are recovered or settled.  The income tax benefit consists of taxes currently refundable due to net operating loss carry back provisions less the effects of accelerated depreciation for the federal government. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or the entire deferred tax asset will not be realized. Deferred tax assets and liabilities are adjusted for the effect of changes in tax laws and rates on the date of enactment.  Earnings (Loss) Per Share - The Company reports earnings (loss) per share in accordance with Statement of Financial Accounting Standard (SFAS) No.128. This statement requires dual presentation of basic and diluted earnings (loss) with a reconciliation of the numerator and denominator of the loss per share computations. Basic earnings per share amounts are based on the weighted average shares of common outstanding. If applicable, diluted earnings per share assume the conversion, exercise or issuance of all common stock instruments such as options, warrants and convertible securities, unless the effect is to reduce a loss or increase earnings per share. Accordingly, this presentation has been adopted for the periods presented. There were no adjustments required to net income for the period presented in the computation of diluted earnings per share. There were no common stock equivalents (CSE) necessary for the computation of diluted loss per share.  Fixed Assets - Fixed assets are recorded at cost and include expenditures that substantially increase the productive lives of the existing assets. Maintenance and repair costs are expensed as incurred. Depreciation is provided using the straight-line method. Depreciation of property and equipment is calculated over the management prescribed recovery periods, which range from 5 years for equipment to 7 years for furniture and fixtures.  When a fixed asset is disposed of, its cost and related accumulated depreciation are removed from the accounts. The difference between un-depreciated cost and proceeds from disposition is recorded as a gain or loss.  Advertising Costs - Advertising costs are expensed as incurred. The Company does not incur any direct-response advertising costs.  There havent been any advertising costs since inception.  Revenue Recognition - Revenue is recognized on an accrual basis, when revenue is earned.  Oil and Gas Revenues are received on a monthly basis subject to oil production and sales to refinery.  Revenues can be affected by weather conditions and/or market deliveries.  8   Comprehensive Income (Loss) - The Company adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 130, Reporting Comprehensive Income", which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the year covered in the financial statements.  Long-Lived Assets - In accordance with SFAS No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, the Company tests long-lived assets or asset groups for recoverability when events or changes in circumstances indicate that their carrying amount may not be recoverable. Circumstances which could trigger a review include, but are not limited to: significant decreases in the market price of the asset; significant adverse changes in the business climate or legal factors; accumulation of costs significantly in excess of the amount originally expected for the acquisition or construction of the asset; current period cash flow or operating losses combined with a history of losses or a forecast of continuing losses associated with the use of the asset; and current expectation that the asset will more likely than not be sold or disposed significantly before the end of its estimated useful life.  Recoverability is assessed based on the carrying amount of the asset and its fair value which is generally determined based on the sum of the undiscounted cash flows expected to result from the use and the eventual disposal of the asset, as well as specific appraisal in certain instances. An impairment loss is recognized when the carrying amount is not recoverable and exceeds fair value.  Cash and Cash Equivalents - For purposes of the Statements of Cash Flows, the Company considers liquid investments with an original maturity of three months or less to be cash equivalents.  RECENT ACCOUNTING PRONOUNCEMENTS  In May 2008, the Financial Accounting Standards Board (FASB) issued SFAS No. 163, Accounting for Financial Guarantee Insurance Contracts-and interpretation of FASB Statement No. 60.  SFAS No. 163 clarifies how Statement 60 applies to financial guarantee insurance contracts, including the recognition and measurement of premium revenue and claims liabilities. This statement also requires expanded disclosures about financial guarantee insurance contracts. SFAS No. 163 is effective for fiscal years beginning on or after December 15, 2008, and interim periods within those years. SFAS No. 163 has no effect on the Companys financial position, statements of operations, or cash flows at this time.  In May 2008, the Financial Accounting Standards Board (FASB) issued SFAS No. 162, The Hierarchy of Generally Accepted Accounting Principles.  SFAS No. 162 sets forth the level of authority to a given accounting pronouncement or document by category. Where there might be conflicting guidance between two categories, the more authoritative category will prevail. SFAS No. 162 will become effective 60 days after the SEC approves the PCAOBs amendments to AU Section 411 of the AICPA Professional Standards. SFAS No. 162 has no effect on the Companys financial position, statements of operations, or cash flows at this time.  In March 2008, the Financial Accounting Standards Board, or FASB, issued SFAS No. 161, Disclosures about Derivative Instruments and Hedging Activitiesan amendment of FASB Statement No. 133.  This standard requires companies to provide enhanced disclosures about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under Statement 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entitys financial position, financial performance, and cash flows. This Statement is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008, with early application encouraged. The Company has not yet adopted the provisions of SFAS No. 161, but does not expect it to have a material impact on its consolidated financial position, results of operations or cash flows.  In December 2007, the SEC issued Staff Accounting Bulletin (SAB) No. 110 regarding the use of a "simplified" method, as discussed in SAB No. 107 (SAB 107), in developing an estimate of expected term of "plain vanilla" share options in accordance with SFAS No. 123 (R), Share-Based Payment.  In particular, the staff indicated in SAB 107 that it will accept a company's election to use the simplified method, regardless of whether the company has sufficient information to make more refined estimates of expected term. At the time SAB 107 was issued, the staff believed that more detailed external information about employee exercise behavior (e.g., employee exercise patterns by industry and/or other categories of companies) would, over time, become readily available to companies. Therefore, the staff stated in SAB 107 that it would not expect a company to use the simplified method for share option grants after December 31, 2007. The staff understands that such detailed information about employee exercise behavior may not be widely available by December 31, 2007. Accordingly, the staff will continue to accept, under certain circumstances, the use of the simplified method beyond December 31, 2007. The Company currently uses the simplified method for plain vanilla share options and warrants, and will assess the impact of SAB 110 for fiscal year 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.  9   In December 2007, the FASB issued SFAS No. 160, Noncontrolling Interests in Consolidated Financial Statementsan amendment of ARB No. 51.  This statement amends ARB 51 to establish accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a noncontrolling interest in a subsidiary is an ownership interest in the consolidated entity that should be reported as equity in the consolidated financial statements. Before this statement was issued, limited guidance existed for reporting noncontrolling interests. As a result, considerable diversity in practice existed. So-called minority interests were reported in the consolidated statement of financial position as liabilities or in the mezzanine section between liabilities and equity. This statement improves comparability by eliminating that diversity. This statement is effective for fiscal years, and interim periods within those fiscal years, beginning on or after December 15, 2008 (that is, January 1, 2009, for entities with calendar year-ends). Earlier adoption is prohibited. The effective date of this statement is the same as that of the related Statement 141 (revised 2007). The Company will adopt this Statement beginning March 1, 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.  In December 2007, the FASB, issued FAS No. 141 (revised 2007), Business Combinations.This Statement replaces FASB Statement No. 141, Business Combinations, but retains the fundamental requirements in Statement 141.  This Statement establishes principles and requirements for how the acquirer: (a) recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, and any noncontrolling interest in the acquire; (b) recognizes and measures the goodwill acquired in the business combination or a gain from a bargain purchase; and (c) determines what information to disclose to enable users of the financial statements to evaluate the nature and financial effects of the business combination. This statement applies prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2008. An entity may not apply it before that date. The effective date of this statement is the same as that of the related FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements.  The Company will adopt this statement beginning March 1, 2009. It is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.  In February 2007, the FASB, issued SFAS No. 159, The Fair Value Option for Financial Assets and LiabilitiesIncluding an Amendment of FASB Statement No. 115.  This standard permits an entity to choose to measure many financial instruments and certain other items at fair value. This option is available to all entities. Most of the provisions in FAS 159 are elective; however, an amendment to FAS 115 Accounting for Certain Investments in Debt and Equity Securities applies to all entities with available for sale or trading securities. Some requirements apply differently to entities that do not report net income. SFAS No. 159 is effective as of the beginning of an entities first fiscal year that begins after November 15, 2007. Early adoption is permitted as of the beginning of the previous fiscal year provided that the entity makes that choice in the first 120 days of that fiscal year and also elects to apply the provisions of SFAS No. 157 Fair Value Measurements.  The Company will adopt SFAS No. 159 beginning March 1, 2008 and is currently evaluating the potential impact the adoption of this pronouncement will have on its consolidated financial statements.  In September 2006, the FASB issued SFAS No. 157, Fair Value Measurements This statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (GAAP), and expands disclosures about fair value measurements. This statement applies under other accounting pronouncements that require or permit fair value measurements, the Board having previously concluded in those accounting pronouncements that fair value is the relevant measurement attribute. Accordingly, this statement does not require any new fair value measurements. However, for some entities, the application of this statement will change current practice. This statement is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. Earlier application is encouraged, provided that the reporting entity has not yet issued financial statements for that fiscal year, including financial statements for an interim period within that fiscal year. The Company will adopt this statement March 1, 2008, and it is not believed that this will have an impact on the Companys consolidated financial position, results of operations or cash flows.  NOTE 3 UNAUDITED FINANCIAL STATEMENTS  The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2009, and for all periods presented herein, have been made.  Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted.  It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Companys June 30, 2008 audited financial statements.  The results of the operations for the periods ended March 31, 2009 and 2008 are not necessarily indicative of the operating results for the full year.  10   NOTE 4 SEGMENTS  Statement of Financial Accounting Standards No. 131, "Disclosures about Segments of an Enterprise and Related Information" requires companies to report information about operating segments in interim and annual financial statements. It also requires segment disclosures about products and services, geographic areas and major customers. The Company determined that it did not have any material, separately reportable operating segments as of June 30, 2008  NOTE 5 - INCOME TAXES  The Company provides for income taxes under Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes. SFAS No. 109 requires the use of an asset and liability approach in accounting for income taxes. Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect currently.  SFAS No. 109 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. In the Companys opinion, it is uncertain whether they will generate sufficient taxable income in the future to fully utilize the net deferred tax asset. Accordingly, a valuation allowance equal to the deferred tax asset has been recorded. The total deferred tax asset is $ 196,106, which is calculated by multiplying a 15% estimated tax rate by the cumulative NOL of $ 1,306,706. Details for the last two years follow:  Year Ended June 3020082007Deferred Tax Asset114,33128,530Valuation Allowance
Current Taxes Payable00  Below is a chart showing the estimated corporate federal net operating loss (NOL) and the year in which it will expire.  2005$270,89820252006$82,95320262007$190,20120272008$762,6542028Total NOL$1,306,706  NOTE 6  GOING CONCERN  The accompanying financial statements have been prepared assuming that the company will continue as a going concern. The Companys activities have been primarily supported by loans from the Companys President and the acquisition of the aforementioned working interest in one of its wells.  It has sustained losses in all previous reporting periods with an inception to date loss of $ 1,452,108 as of March 31, 2009.  Management continues to seek funding from its shareholders and other qualified investors to pursue its business plan.  The company continues to seek viable drilling opportunities and highly verified fields for re-development. Our operator has repurchased our Cooke county interests. The company entered into a Letter of Intent to re-develop a drill bit verified former producing oil field south of Abilene, Taylor County Texas.  The company continues to seek funding for all of the projects and operational requirements for the continuing fiscal year.  To assist our funding efforts on April 22, 2008 the Company effected a 1 for 10 reverse stock split.  To provide better access to information about the Company, management has created a webpage at www.novaeneryinc.com and will continue to maintain and update information about the Company as it occurs.  NOTE 7 - RELATED PARTY TRANSACTIONS  As a result of financial assistance provided the Company by Daymon Bodard, the Company executed a Convertible Promissory Note in the amount of $564,500 on August 26, 2006. The Note is unsecured and interest accrues annually at the statutory interest rate for the state of Nevada. There is no penalty for prepayments.  11   NOTE 8  ACCRUED SALARIES  Salaries are being accrued for Daymon Bodard at $60,000 per year.  NOTE 9  STATEMENT OF STOCKHOLDERS EQUITY  On April 22, 2008 the company effected a 1 for 10 reverse stock split.  The Stockholders Equity has been restated since inception to reflect the stock split.  On May 12, 2005, there was a 300 to 1 Stock Split.  NOTE 10  SUBSEQUENT EVENTS  On August 21, 2008 the company filed a Form 10 with the Securities and Exchange Commission as the first step in becoming a fully reporting company listed on the OTCBB exchange.  NOTE 11  MANAGEMENT DISCUSSIONS  The company continues to evaluate oil and gas opportunities in North West Texas. The credit markets and the access to venture capital remain similar to the conditions in the last quarter.  The company is proceeding with our application to the SEC via Form 10 registration to become a fully reporting company listed on the OTCBB exchange.  12   Item 2.  Managements Discussion and Analysis of Financial Condition and Results of Operations.  The following discussion and analysis should be read in conjunction with the financial statements and notes of Our, Inc. (hereinafter referred to as, Nova, our or, we) thereto included elsewhere in this Form 10-Q.  Except for the historical information contained herein, the discussion in this Form SB as amended contains certain forward looking statements that involve risks and uncertainties, such as statements of Our plans, objectives, expectations and intentions. The cautionary statements made in this Form 10-Q should be read as being applicable to all related forward statements wherever they appear in this Form 10-Q. Our actual results could differ materially from those discussed here.  Other than what has been disclosed herein and in the year end financial report for year 2008, filed on September 28th, 2008, the Company is not aware of any immediate circumstances or trends which would have a negative impact upon future sales or earnings. There have been no material fluctuations in the standard seasonal variations of the Company business.   The accompanying financial statements include all adjustments, which in the opinion of management are necessary in order to make the financial statements not misleading.  Nature of Business. We recently had a working interest in operating oil and gas wells located in the Barnett Shale area in central Texas. This portfolio of working interests provides the Company with a foundation to execute its business plan by achieving growth through its investments. The aforementioned wells developed severe highline pressure and essentially stopped producing oil or gas. The drilling operators required the Company to invest an additional $75,000 to refrac one of the wells or as an option, sell the both wells back to the operators.  The Company made the business decision to sell the wells to the operators rather than continuing to invest in non-producing wells.  The oil and natural gas industry have a history of demonstrated, long term, fundamental strength and viability.  We expect to position the Company for expanded growth.  The Companys strategic objectives continue to be:  - Research and identify known, proven, developed reserves that present low risk opportunities;  - Continue to review opportunities with potential joint venture partners with proven track records in the oil and gas sector; and  - To grow the Company and achieve exponential growth in order to build value per share.  We expect to continue to develop our business plan by locating, researching and investing in quality drilling targets. We believe that in-depth research of lease ownership, on-site visits as well as historical analysis of potential drilling targets are paramount. Combining new technology that is now available and being successfully used in the recovery of new deposits by other oil and gas companies, could help reduce the risks traditionally associated with the development of new or existing oil and gas reserves.  Based on current engineering reports, well logs, site visits and the history and long-term experiences of the operating company, Nova Energy, Inc. believes that key areas of Texas will continue to be commercially viable and provide new opportunities for Nova Energy, Inc. and will build long-term shareholder value.  During the quarter ended March 31, 2009, funding resources have been constrained by tight credit markets and access to venture capital.  We expect that trend to continue through 2009.  BIOGRAPHIES  Daymon Bodard, President, director and CFO, 55 years old. Mr. Bodard presently owns 1,352,643 shares, which represents 39.5% of the Companys issued and outstanding common stock.  The biography of Mr. Bodard is as follows,  1980 to 1986: Employed by Rothmans Tobacco Company as an area sales manager;  1986 to 1995: Employed by Successful Money Management Seminars Canada, as the Canadian Distribution Manager;  1995 to present: Owner of MSI Management Services Company, a private business consulting firm; The company presently only operates on a as needed basis as Mr. Bodard devotes the majority of his time to Nova Energy, Inc.;  2002 to present: President of Nova Energy, Inc., a Nevada incorporated publicly traded oil and gas development stage company.     13   I. Capital Resources and Liquidity.  During the quarter ended March 31, 2009, there were no issuances of the Company's common stock.    II. Results of Operations.  The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern.  However, the Company has incurred a net loss of ($49,775) for the three-month period ended March 31, 2009, or, ($0.00) per share (basic and diluted) on no revenues compared to a loss of ($117,921) for the first quarter ended March 31, 2008.  The increased loss in the second quarter of 2008 can be contributed to the fact the Company had no revenues yet still had administrative expenses.  During the three month period ended March 31, 2009, the Company has used cash in the amount of $25,767 in its operating activities as opposed to $23,937 for the period ending March 31, 2008. The total liabilities and stockholder's deficit for the quarter ended March 31, 2009 was $937,504 as opposed to $774,881. The total liabilities and stockholder's deficit for the year ended June 30, 2008 was $139,804.  These conditions raise substantial doubt about the Company's ability to continue as a going concern.  The Company's ability to continue as a going concern is dependent upon (i) raising additional capital to fund operations (ii) the further development of oil and gas lease interests which have been presented to the company by various oil and gas operators and, (iii) ultimately, the achievement of profitable operations.  Management is currently contemplating several additional financing sources to fund operations until profitability can be achieved. However, there can be no assurance that additional financing can be obtained on conditions considered by management to be reasonable and appropriate, if at all. The financial statements do not include any adjustments that might arise as a result of this uncertainty.  During the second quarter ended March 31, 2009, the Companys common stock was very thinly traded, trading between $.20 and $.25.  One may construe this as a cautionary indication of the Companys ability to continue as a going concern.    III. Related Party Transactions.  There wereno related party transactions during the period ended March 31, 2009.  ITEM 3.  Quantitative and Qualitative Disclosures About Market Risk  Commodity Price Risk  Our major market risk exposure is the pricing of oil and natural gas production, which has been highly volatile and unpredictable during the last several years.   We presently have no oil or gas contracts in place or pending.  Financial Market Risks  Because capital credit markets are presently tight with respect to lending money and the fact that the market for venture capital has pulled back considerably in these uncertain economic times, it has been difficult for us to raise the capital we need to secure oil and gas leases.  We have no way of knowing how long this situation will continue.  Foreign Market Risks.  We sell our products and services exclusively in the United States and receive payment solely in United States dollars. As a result, our financial results are unlikely to be affected by factors such as changes in foreign currency exchange rates or weak economic conditions in foreign markets, except to the extent they affect domestic natural gas markets.  ITEM 4.  Controls and Procedures.  Managements Responsibility for Financial Statements  Our management is responsible for the integrity and objectivity of all information presented in this report. The consolidated financial statements included in this report have been amended and prepared in accordance with U.S. GAAP and reflect managements judgments and estimates on the effect of the reported events and transactions.  14   Disclosure Controls and Procedures  We have taken extra steps to make certain that we will maintain disclosure controls and procedures which are designed to ensure that information required to be disclosed in our filings under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms. Our chief executive officer and chief financial officer has re-evaluated our disclosure controls and procedures as of the end of the period covered by this report and has concluded that such disclosure controls and procedures are now effective in ensuring that material information required to be disclosed in this report is accumulated and communicated to them and our management to allow timely decisions regarding required disclosure.  Internal Control Over Financial Reporting  There was no change in our internal control over financial reporting during the first quarter of 2009 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.  Managements Report on Internal Control over Financial Reporting  Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) under the Exchange Act. Management assessed the effectiveness of our internal control over financial reporting as of December 31, 2008 using the criteria established under Internal Control  Integrated Framework, issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on that assessment, management concluded that our internal control over financial reporting was effective based on those criteria as of December 31, 2008.  Changes in Internal Control over Financial Reporting  We will regularly review our system of internal control over financial reporting to ensure the maintenance of an effective internal control environment. There were no changes in our internal control over financial reporting during the period covered by this report that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.  PART II. OTHER INFORMATION  ITEM 1. Legal Proceedings.  We are not aware of any legal proceedings involving Nova Energy, Inc., during the period ended March 31, 2009.  ITEM 2. Changes of Securities and Use of Proceeds.  None.   ITEM 3. Defaults Upon Senior Securities.  None.  ITEM 4. Submission of Matters to a vote of Security Holders.  None.  ITEM 5. Other.  On September 21, 2008, we filed a Form 10 with the Securities and Exchange Commission.  On October 8, 2008, we filed an amended Form 10.  It is our objective to seek listing on the Over the Counter Bulletin Board Exchange.  15   ITEM 6. Exhibits and Reports on Form 8-K.  Number Description   31.1 Certification by Chief Executive Officer and Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act, promulgated pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.  32.1 Certification by Chief Executive Officer and Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code, promulgated pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.   16   SIGNATURES  Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized this 12th day of May, 2009.  Nova Energy, Inc.  /s/ Daymon Bodard President, Director & CFO   17