**CERTIFICATIONS      PURSUANT TO SECTION 302**

|   |   | I,                Darrel;                Figg,                certify that: |
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*Austin      Chalk Oil & Gas, Inc.*

|   | (a)                Designed such disclosure controls and procedures, or caused such                disclosure controls and procedures to be designed under our supervision,                to ensure that material information relating to the small business                issuer,                including its consolidated subsidiaries, is made known to us by others                within those entities, particularly during the period in which this                annual                report is being prepared; |
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|   | (b)                Designed such internal control over financial reporting, or causes                such                internal control over financial reporting to be designed under our                supervision, to provide reasonable assurance regarding the reliability                of                financial reporting and the preparation of financial statements for                external purposes in accordance with generally accepted accounting                principles; |
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|   | (c)                Evaluated the effectiveness of the small business issuer's disclosure                controls and procedures and presented in this report our conclusions                about                the effectiveness of the disclosure controls and procedures, as of                the end                of the period covered by this report based on such evaluation, and |
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|   | (d)                Disclosed in this report any change in the small business issuer's                internal control over financial reporting that occurred during the                small                business issuer's most recent fiscal quarter (the small business                issuer's                fourth fiscal quarter in the case of an annual report) that has materially                affected or is reasonably likely to materially affect, the small                business                issuer's internal control over financial reporting; and |
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|   | a)                all significant deficiencies in the design or operation of internal                controls which could adversely affect the registrant's ability to                record,                process, summarize and report financial data and have identified                for the                registrant's auditors any material weaknesses in internal controls;                and |
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|   | b)                any fraud, whether or not material, that involves management or other                employees who have a significant role in the registrant's internal                controls; and |
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**CERTIFICATIONS      PURSUANT TO SECTION 302**

|   |   | I,                Marlen                L. Roepke,                certify that: |
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*Austin      Chalk Oil & Gas, Inc.*

|   | (a)                Designed such disclosure controls and procedures, or caused such                disclosure controls and procedures to be designed under our supervision,                to ensure that material information relating to the small business                issuer,                including its consolidated subsidiaries, is made known to us by others                within those entities, particularly during the period in which this                annual                report is being prepared; |
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|   | (b)                Designed such internal control over financial reporting, or causes                such                internal control over financial reporting to be designed under our                supervision, to provide reasonable assurance regarding the reliability                of                financial reporting and the preparation of financial statements for                external purposes in accordance with generally accepted accounting                principles; |
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|   | (c)                Evaluated the effectiveness of the small business issuer's disclosure                controls and procedures and presented in this report our conclusions                about                the effectiveness of the disclosure controls and procedures, as of                the end                of the period covered by this report based on such evaluation, and |
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|   | (d)                Disclosed in this report any change in the small business issuer's                internal control over financial reporting that occurred during the                small                business issuer's most recent fiscal quarter (the small business                issuer's                fourth fiscal quarter in the case of an annual report) that has materially                affected or is reasonably likely to materially affect, the small                business                issuer's internal control over financial reporting; and |
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|   | a)                all significant deficiencies in the design or operation of internal                controls which could adversely affect the registrant's ability to                record,                process, summarize and report financial data and have identified                for the                registrant's auditors any material weaknesses in internal controls;                and |
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|   | b)                any fraud, whether or not material, that involves management or other                employees who have a significant role in the registrant's internal                controls; and |
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