<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C.  20549

                                   FORM 10KSB

[X]  ANNUAL  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE SECURITIES
     EXCHANGE  ACT  OF  1934
     For  the  fiscal  year  ended  December  31,  2002
                                    -------------------

[ ]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE
     SECURITIES  EXCHANGE  ACT  OF  1934

     For  the  transition  period  from  _________  to  ____________

Commission  File  No.  333-82636
                       ---------


                              DELTA OIL & GAS, INC.
                              --------------------
             (Exact name of Registrant as specified in its charter)

          Colorado                                    91 - 2102350
-----------------------------------                 ----------------
(State  or  other  jurisdiction  of                 (I.R.S. Employer
incorporation  or  organization)                    Identification Number)

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

Registrant's  telephone  number,  including  area  code:     (206)  285-7576
                                                             ----------------

Securities  registered  pursuant  to  Section  12(b)  of  the  Act:  NONE

Securities registered pursuant to Section 12 (g) of the Act:  NONE

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

Check  if there is no disclosure of delinquent filers in response to Item 405 of
Regulation  S-B  is  not  contained  in  this  form,  and  no disclosure will be
contained,  to  the  best  of  registrant's  knowledge,  in  definitive proxy or
information statements incorporated by reference in Part III of this Form 10-KSB
or  any  amendment  to  this  Form  10-KSB.  [X]

Revenues  for  2002  were  $13,382.

The  aggregate  market value of the voting stock held by non-affiliates computed
by reference to the last reported sale price of such stock as of  April 15, 2003
is  $  1,252,125.

The  number  of  shares of the issuer's Common Stock outstanding as of December
31, 2003  is  7,508,500.

Transitional  Small Business Disclosure Format (check one):  Yes [   ]  No [ X ]


<PAGE>

                                     PART I

Item 1.      Description of Business

Introduction

Delta  Oil & Gas and Gas is engaged in the exploration, development, acquisition
and  operation  of  oil and gas properties.  Because oil and gas exploration and
development  requires  significant  capital and because our assets and resources
are  limited, we participate in the oil and gas industry through the purchase of
small  interests  in  either  producing  wells  or  oil  and gas exploration and
development  projects.  To  date  we have acquired working interests in two such
projects,  the  Liberty  Valance  well  and  the  Coalinga  Prospect.

Liberty  Valance  Well

On  February  7,  2001,  we acquired an 8.9% working interest in a producing gas
well  styled the Liberty Valance RD1 Gas Unit ("Liberty Valance" or the "well").
The  well  is located in the Rancho Capay Gas Field in Glenn County, California.
Our  interest  was  acquired  by  us  at  a  cost  of  $90,000.

The well is operated by Production Specialties Company (the "operator") pursuant
to  an  Operating  Agreement  dated  December  29,  2000.  Under  the  Operating
Agreement,  Delta  Oil & Gas and Gas is considered a non-operator.  The operator
markets  each  non-operator's  share of gas production from the well and deducts
all  royalty  burdens  and  operating  expenses  prior  to  the  distribution of
revenues.  Through December 31, 2002, we have received production revenues
totaling approximately $60,000  from  our  working  interest  in  Liberty
Valance.

Delta Oil and Gas retained Mark E. Andersen, P.E. to prepare a reserve report on
the  Liberty  Valance  Well.  Mr. Andersen's valuation estimate of Delta Oil and
Gas's  interest  in  the  well  as of December 31, 2001, totaled $19,697 for the
projected  life  of  the  well assuming a 10% discount factor.  In his valuation
estimate  as  of  December 31,  2002, the value of the well totaled $6,862 for
the remaining projected life of the well.  The  Liberty Valance Well is the only
working well in which  Delta  Oil  and  Gas  has  a  working  interest at the
present time.  Its estimated  pool  size  is  50  acres.

Coalinga  Prospect

On  July  5,  2001,  we  acquired  for  consideration  of  $50,000, the right to
participate to the extent of a 2.5% working interest in the Coalinga Prospect in
Fresno  County,  California.  The Coalinga Prospect is approximately 5,000 acres
in  oil  and  gas  leases and 16 square miles of 3-D seismic data.  The Coalinga
Prospect  is located less than one mile southeast of the East Coalinga Extension
which  has  so  far  produced  503,000,000 barrels of oil and less than one mile
northwest  of  the  Kettleman  Hills Field which has so far produced 458,000,000
                                       2
<PAGE>

barrels  of  oil.  We  note,  however,  that  we have no entitlement to the East
Coalinga  Extension  or  the  Kettleman  Hills  Field  and  the proximity of our
interest  to  theirs  does  not  assure  we  will experience similar recoveries.

To  date, $2,000,000 has been spent on the land including the 3-D seismic survey
shot  in 1997.  This was paid by the partners in the Coalinga Prospect.  Some of
the  $50,000  consideration  paid  for  our  2.5%  interest  on  July  5,  2001,
compensated our predessessors in interest for shared development cost attributed
to  the  2.5% interest paid through that date.  Since July 5, 2001, we have paid
$108,690  toward  development  of  the  Coalinga  Prospect.

Seismic  data  indicate  structural  and stratigraphic traps are found along the
northwesterly  trending  anticline.  Also,  high  amplitude  seismic  reflectors
observed  may  indicate gas saturation.  Four-way closure can be observed within
the  prospect  area.  These  structures  have  defined  two separate prospective
fields  within the prospect area.  The presence of traps, however, does not give
any  assurance  hydrocarbons  were available for accumulation.  Further, seismic
indications  of  hydrocarbon saturation are generally not reliable indicators of
productive  reservoir  rock.  High readings in resistivity logs can indicate low
permeability and productivity and well log indications of hydrocarbon saturation
do  not  assure  productivity.  The first prospect was tested with a 12,000 foot
well known as Olympic Coalinga No. 1.  Even though certain intervals encountered
totaling 49 feet returned excellent resistivity, the well was dry and is capped.
We  are  obligated  to  contribute  2.5%  of  all drilling costs in the Coalinga
Prospect  in  order  to  share in any recovery.  We expended $108,690 on Olympic
Coalinga  No.  1  which was a dry hole.  No drilling in the Coalinga Prospect is
taking  place  at  the  present time.  Accordingly, the entirety of the Coalinga
Prospect at the present time is undeveloped acreage consisting of 8,360 acres of
which  our  interest  is  2.5%.

Producing  Wells  and  Acreage

The  following  tables  set forth information with respect to Delta Oil and Gas'
producing  well  and  acreage  as  of  December 31,  2002.

                                   Producing Wells
                                   ---------------
                                 Oil               Gas
-----------------------------------------------------------
                           Gross     Net     Gross     Net
-----------------------------------------------------------
Glenn County, California     -0-     -0-         1    .089
-----------------------------------------------------------
Fresno County, California    -0-     -0-       -0-     -0-
-----------------------------------------------------------
Total                        -0-     -0-        1     .089
-----------------------------------------------------------





                                 3
<PAGE>

                                       Acreage
                                       -------
                              Producing     Undeveloped
                              ---------     -----------
                           Gross     Net     Gross     Net
-----------------------------------------------------------------------
Glenn County, California       *       *       -0-     -0-
-----------------------------------------------------------------------
Fresno County, California     -0-     -0-    8,360     209
-----------------------------------------------------------------------
Total                          *       *     8,360     209
-----------------------------------------------------------------------

*     Even  though  we  own an interest in a producing gas well in Glenn County,
California,  acreage  is  not  typically  assigned  to a particular well in that
state.  However,  it  is  estimated  that the pool size of the well is 50 acres.


Drilling  Activities

Information  concerning  the  number of gross and net wells drilled by Delta Oil
and  Gas during  2002, is as follows:

                                    Gross     Net
-----------------------------------------------------------------------
Wells drilled (productive)         -0-        -0-
-----------------------------------------------------------------------
Dry holes drilled (exploratory)     1        .025
-----------------------------------------------------------------------
Total                               1        .025
-----------------------------------------------------------------------

Financing

To  date  we  have  financed  our acquisitions either through the sale of equity
capital  or by borrowing needed funds.  Since our incorporation we have raised a
total  of  $104,500 through the placement of our equity capital.  It was through
the  use of these funds that we were able to acquire our interest in the Liberty
Valance  well.  On  February  4, 2001, we borrowed $30,000 at an annual interest
rate  of  6.5%.  This loan together with the operating revenues from the Liberty
Valance  well  enabled  us  to  purchase  our interest in the Coalinga Prospect.

To  continue to pursue our business plan and acquire additional interests in oil
and  gas  projects,  we  will  need  additional  funding  from:
-    Private  or  public  distributions  of  our  equity  capital;
-    Borrowings;  and/or
-    Operating  revenues  from  working  interests  already  owned.

Funding  from any or all of these sources will have to be sufficient to meet our
day to day operational needs and then, in addition, supply necessary capital for
new acquisitions.  There is no guarantee that required capital will be available
to  us  for  these  purposes.


                                         4
<PAGE>

Marketing  of  Production

Each oil and/or gas property that we now own, or will own, a percentage interest
in  will  have  an  operator  who  will be responsible for marketing production.
However,  the  Liberty-Valance  well  and  the  Coalinga Prospect are subject to
contractual restrictions that require that non-operators such as Delta Oil & Gas
consent to the terms and conditions of any sales contract before it is
entered  into.

Any  non-operator  who  chooses  to  do  so may negotiate and enter into a sales
contract  with  third  parties  for  the  sale  of  its share of oil and/or gas.

Competition

The oil and gas industry is highly competitive in all its phases.  Properties in
which  we have an interest will encounter strong competition from many other oil
and  gas producers, including many that possess substantial financial resources,
in  acquiring  economically  desirable  producing  properties  and  exploratory
drilling prospects, and in obtaining equipment and labor to operate and maintain
their  properties.

Government  Regulation

The federal government and various state and local governments have adopted laws
and  regulations  regarding  the protection of human health and the environment.
These  laws and regulations may require the acquisition of a permit by operators
before  drilling  commences, prohibit drilling activities on certain lands lying
within  wilderness areas, wetlands, or where pollution might cause serious harm,
and  impose  substantial  liabilities  for  pollution  resulting  from  drilling
operations,  particularly  with  respect  to  operations in onshore and offshore
waters or on submerged lands.  These laws and regulations may increase the costs
of  drilling  and  operating  wells.  Because  these laws and regulations change
frequently,  the  costs  of  compliance  with  existing and future environmental
regulations  cannot  be  predicted  with  certainty.

The  transportation  and certain sales of natural gas in interstate commerce are
heavily  regulated by agencies of the federal government.  Production of any oil
and  gas  by  properties  in  which we have an interest will be affected to some
degree  by  state  regulations.  States have statutory provisions regulating the
production  and  sale  of  oil  and  gas,  including  provisions  regarding
deliverability.  Such  statutes,  and  the regulations promulgated in connection
therewith, are generally intended to prevent waste of oil and gas and to protect
correlative  rights to produce oil and gas between owners of a common reservoir.
State  regulatory  authorities  may  also  regulate  the  amount  of oil and gas
produced  by  assigning  allowable rates of production to each well or proration
unit.

Any  exploration  or  production  on  Federal  land will have to comply with the
Federal  Land  Management  Planning  Act  which  has  the  effect  generally  of
protecting  the  environment.  Any exploration or production on private property
whether  owned or leased will have to comply with the Endangered Species Act and
the  Clean  Water Act.  The costs of complying with environmental concerns under
any  of  these  acts varies on a case by case basis.  In many instances the cost
can  be  prohibitive  to  development.  Environmental  costs  associated  with a
                                   5
<PAGE>

particular  project must be factored into the overall cost evaluation of whether
to  proceed  with  the  project.

There  are  no  costs  to Delta Oil & Gas at the present time in connection with
compliance  with  environmental  laws.  Costs,  however, could occur at any time
through  industrial  accident  or in connection with a new project.  Costs could
extend  into  the  millions of dollars for which we could be totally liable.  In
the  event  of liability, we would be entitled to contribution from other owners
so  that  our  percentage  share of a particular project would be the percentage
share  of  our  liability  on  that  project.  However,  other owners may not be
willing  or  able  to  share in the cost of the liability.  Even if liability is
limited  to  our  percentage share, any significant liability would wipe out our
assets  and  resources.



Item 2.  Description  of  Property

We  do  not lease or own any real property.  We maintain our corporate office at
1122  6th  Avenue  North,  Seattle,  Washington  98109.  This office space is an
office  sharing  arrangement  being provided as  an  accommodation to us where
we can receive mail and perform  other  minimal corporate functions. As our
business operations grow, it will be necessary for us to seek appropriate
individual office space. Management believes  suitable  office space  will  be
available  when  it  is  needed.

Item 3.  Legal  Proceedings

The Company is not a party to any material pending legal proceedings, and to the
best  of  its knowledge, no such proceedings by or against the Company have been
threatened.

Item 4.  Submission  of  matters  to  a  Vote  of  Security  Holders

There  was  no  matter  submitted during the fourth quarter of fiscal year ended
December  31,  2002,  to a vote of security holders, through the solicitation of
proxies  or  otherwise.

                                     PART II

Item 5.  Market for Registrant's Common Equity and Related Stockholders Matters.

Market Information

     There  is  no public trading market for the common stock of Delta Oil &
Gas.  There  are  outstanding  7,508,500  shares as of December 31, 2002.  There
is a current registration statement in effect which registers  the  resale  of
5,008,500  common  shares that are currently issued and outstanding.  The
remaining shareholder is also be able to sell her shares totaling 2,500,000
by meeting the resale requirements for an affiliate pursuant to Rule  144.

Since its inception, no dividends have been paid on Delta Oil & Gas common
stock.  Delta Oil & Gas intends  to  retain  any  earnings  for  use in its
business  activities,  so  it  is  not expected that any dividends on the common
stock  will  be  declared  and  paid  in  the  foreseeable  future.
                                    6
<PAGE>

At  December 31,  2002,  there  were  32 shareholders  of  record  holding
Delta Oil & Gas common  stock.

Recent  Sales  of  Unregistered  Securities

There  have been no sales of unregistered securities within the last three years
which  would  be required to be disclosed pursuant to Item 701 of Regulation SB,
except  for  the  following:

We issued 2,500,000 shares of common stock on January 18, 2001 to Pamela Starek.
Pamela  Starek  is our director and our president.  These shares were
issued  pursuant  to Section 4(2) of the Securities Act of 1933 (the "Securities
Act")  at  a  price  of  $0.001  per  share,  for  total proceeds of $2,500. The
2,500,000  shares  of  common  stock  are  restricted  shares  as defined in the
Securities  Act.

We  completed  a  private  placement  of  5,000,000  shares  of our common stock
pursuant  to  Regulation  S  of  the 1933 Act on March 1, 2001.  All shares were
issued at a price of $0.02 per share.  We received proceeds of $100,000 from the
offering.  Each  purchaser  represented  to  us  that the purchaser was a Non-US
Person  as defined in Regulation S.  We did not engage in a distribution of this
offering  in  the  United States.  Each purchaser represented their intention to
acquire  the  securities  for  investment  only  and  not  with  a  view  toward
distribution.  Appropriate legends were affixed to the stock certificates issued
in  accordance  with Regulation S.  All purchasers were given adequate access to
sufficient  information  about us to make an informed investment decision.  None
of  the  securities were sold through an underwriter and accordingly, there were
no  underwriting  discounts  or  commissions  involved.

We completed a private placement of 8,500 shares of our common stock pursuant to
Regulation  S  of  the  1933  Act on July 31, 2001.  All shares were issued at a
price  of  $0.25  per  share.  We received proceeds of $2,125 from the offering.
Each  purchaser  represented  to  us  that  the purchaser was a Non-US Person as
defined  in  Regulation S.  We did not engage in a distribution of this offering
in the United States.  Each purchaser represented their intention to acquire the
securities  for  investment  only  and  not  with  a  view  toward distribution.
Appropriate  legends were affixed to the stock certificates issued in accordance
with  Regulation  S.  All  purchasers  were  given adequate access to sufficient
information  about  us  to  make  an  informed investment decision.  None of the
securities  were  sold  through  an  underwriter  and accordingly, there were no
underwriting  discounts or commissions involved.

Item 6.  Management's  Discussion  and  Analysis  or  Plan  of  Operation

Calendar  Year  Ended  December  31,  2001

For  the  year  ended  December 31, 2001, we earned revenues of $47,311.  During
the  year  we  incurred  costs  and  expenses  of  $231,718.  Of these costs and
expenses, $42,349 were operational and administrative type expenses and $189,368
were  costs and expenses associated with depletion, impairment of properties and
the  like..

                                       7
<PAGE>


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.

Liquidity  and  Capital  Resources

At  December 31,  2002,  we  had cash on hand totaling $1,005.  Accordingly the
Company  is in need of immediate cash in order to sustain operations.  Our tight
cash  position  is  a  result  of  decreased  production from the Company's only
producing  property and from the fact that our recent drilling  project in which
we  had a 2.5% participating interest turned out to be a dry hole during 2002.
We  will 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  STATEMENTS

The  information  in  this discussion contains forward-looking statements within
the  meaning  of  Section  27A  of  the  Securities Act of 1933, as amended, and
Section  21E  of  the  Securities  Exchange  Act  of  1934,  as  amended.  These
forward-looking statements involve risks and uncertainties, including statements
regarding  the  Company's capital needs, business strategy and expectations. Any
statements  contained  herein that are not statements of historical facts may be
deemed  to  be  forward-looking  statements.  In  some  cases,  you can identify
forward-looking  statements  by  terminology  such  as  "may", "will", "should",
"expect",  "plan",  "intend",  "anticipate",  "believe",  "estimate", "predict",
"potential"  or  "continue",  the  negative  of  such  terms or other comparable
terminology. Actual events or results may differ materially. In evaluating these
statements,  you  should  consider various factors, including the risks outlined
below,  and, from time to time, in other reports the Company files with the SEC.
These  factors  may cause the Company's actual results to differ materially from
any  forward-looking statement. The Company disclaims any obligation to publicly
update  these  statements, or disclose any difference between its actual results
and  those  reflected  in  these  statements.  The  information  constitutes
forward-looking  statements  within  the  meaning  of  the  Private  Securities
Litigation  Reform  Act  of  1995.


Item 7.  Financial  Statements







                                      8
<PAGE>




                        Index to the Financial Statements
                    As of December 31, 2002 and 2001 and for
         For Each of the Two Years in the Period Ended December 31, 2002



Report  of  Independent  Auditors                                          F-1

Balance  Sheets,  December  31,  2002  and  2001                           F-2

Statement  of  Operations                                                  F-3

Statement  of  Cash Flows                                                  F-4

Statement  of  Changes in Stockholders Equity (Deficiency)                 F-5

Notes  to  the  Financial  Statements                                      F-6

                                    9


<PAGE>


                       DELTA OIL & GAS, INC.
                  (A Development Stage Company)


                       FINANCIAL STATEMENTS


                   DECEMBER 31, 2002 AND 2001
                    (Stated in U.S. Dollars)

<PAGE>
                                                 MORGAN & COMPANY
                                            CHARTERED ACCOUNTANTS

                       AUDITORS' REPORT




To the Board of Directors and the Stockholders of
Delta Oil & Gas, Inc.
(A development stage company)


We have audited the balance sheets of Delta Oil & Gas, Inc. (a
development stage company) as at December 31, 2002 and 2001, and
the statements of operations, cash flows, and changes in
stockholders equity for the year ended December 31, 2002, and for
the period from inception, January 9, 2001, to December 31, 2001.
These financial statements are the responsibility of the
Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audits.

We conducted our audits in accordance with United States
generally accepted auditing standards.  Those standards require
that we plan and perform an audit to obtain reasonable assurance
whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements.  An audit also includes assessing the accounting
principles used and significant estimates made by management, as
well was evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our
opinion.

In our opinion, these financial statements present fairly, in all
material respects, the financial position of the Company as at
December 31, 2002 and 2001, and the results of its operations and
cash flows, and changes in stockholders equity for the year ended
December 31, 2002, and for the period from inception, January 9,
2001, to December 31, 2001, in accordance with United States
generally accepted accounting principles.

These financial statements have been prepared assuming the
Company will continue as a going concern.  As discussed in Note
1(c) to the financial statements, the Company has incurred a net
loss of $247,167 since inception, has not attained profitable
operations and is dependent upon obtaining adequate financing to
fulfil its development activities.  These factors raise
substantial doubt that the Company will be able to continue as a
going concern.  The financial statements do not include any
adjustments that might result from the outcome of this
uncertainty.

Vancouver, Canada                          "Morgan & Company"

March 25, 2003	                         Chartered Accountants


Tel 604.687.5841     Member of     P.O. Box 100007 Pacific Centre
Fax 604.687.0075       ACPA    Suite 1488-700 West Gerogia Street
www.morgan-cas.com   International     Vancouver, B.C. V7Y 1A1

                             F-1
<PAGE>



                       DELTA OIL & GAS, INC.
                   (A Development Stage Company)

                         BALANCE SHEETS
                    (Stated in U.S. Dollars)

----------------------------------------------------------------
                                              DECEMBER 31
                                        2002            2001
----------------------------------------------------------------
ASSETS
Current
  Cash                               $   1,005        $    1,076
                                    ----------------------------
Oil And Gas Properties, at cost
  based on full cost accounting
  (Note 4)
   Proved oil and gas properties       102,346           100,115
   Less:  Accumulated depletion        (97,900)          (80,418)
                                    -----------------------------
                                         4,446            19,697
                                    -----------------------------

Other Equipment
  Computer equipment                     1,741             1,741
  Less:  Accumulated depreciation       (1,253)             (261)
                                    -----------------------------
                                           488             1,480
                                    -----------------------------
                                     $   5,939        $   22,253

LIABILITIES
Current
  Accounts payable                   $  24,474        $  24,431
  Advances payable (Note 5)             70,872           27,503
  Due to related party (Note 8)         20,167           19,145
                                    ----------------------------
                                       115,513           71,079
Promissory Note Payable (Note 6)        32,968           30,956
                                    ----------------------------
                                       148,481          102,035
                                    ----------------------------
STOCKHOLDERS' EQUITY (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 (2001 -
      7,508,500 common shares)           7,509           7,509

  Additional paid-in capital            97,116          97,116


Deficit Accumulated During
  The Development Stage               (247,167)       (184,407)
                                    ---------------------------
                                      (142,542)        (79,782)
                                    ---------------------------
                                     $   5,939        $ 22,253
===============================================================


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
                       (Stated in U.S. Dollars)
-----------------------------------------------------------------------------
                                                                 PERIOD FROM
                                                                  INCEPTION
                                                                  JANUARY 9
                                          YEARS ENDED              2001 TO
                                          DECEMBER 31            DECEMBER 31
                                       2002          2001           2002
-----------------------------------------------------------------------------
Revenue
  Oil and gas sales                 $   13,382     $   47,311     $   60,693
                                   ------------------------------------------
Costs And Expenses
  Gas operating expenses                 5,776         12,729         18,505
  General and administration            41,892         29,620         71,512
  Depreciation and depletion             5,161         28,489         33,650
  Impairment of oil and gas
    Properties                          13,313         52,190         65,503
  Dry well costs written off            10,000        108,690        118,690
                                   ------------------------------------------
                                        76,142        231,718        307,860
                                   ------------------------------------------
Net Loss                            $  (62,760)    $ (184,407)    $ (247,167)
=============================================================================

Basic And Diluted Net Loss Per
  Share                             $    (0.01)    $    (0.03)
==============================================================

Weighted Average Number Of
  Outstanding Shares                 7,508,500      6,707,031
==============================================================

  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
                          (Stated in U.S. Dollars)

-----------------------------------------------------------------------------
                                                                 PERIOD FROM
                                                                  INCEPTION
                                                                  JANUARY 9
                                           YEARS ENDED             2001 TO
                                           DECEMBER 31           DECEMBER 31
                                        2002        2001             2002
-----------------------------------------------------------------------------

Cash Flows From Operating
 Activities
  Net loss                         $  (62,760)    $ (184,407)    $ (247,167)
Adjustments To Reconcile Net
 Loss To Net Cash From Operating
  Activities
   Depreciation and depletion           5,161         28,489         33,650
   Impairment of oil and gas
    Properties                         13,313         52,190         65,503
   Dry well costs written off          10,000        108,690        118,690

   Change in operating assets and
    liabilities:
     Accounts payable                      43         24,431         24,474

                                   ------------------------------------------
Net Cash From Operating
 Activities                           (34,243)        29,393         (4,850)
                                   ------------------------------------------

Cash Flows From Investing
 Activities
  Purchase of oil and gas
   Properties                         (12,231)      (208,805)      (221,036)
  Purchase of other equipment            -            (1,741)        (1,741)
                                   ------------------------------------------
Net Cash From Investing
 Activities                           (12,231)      (210,546)      (222,777)
                                   ------------------------------------------

Cash Flows From Financing
 Activities
  Issue of common stock                  -           104,625        104,625
  Advance from related party            1,022         19,145         20,167
  Advances payable                     43,369         27,503         70,872
  Promissory note                       2,012         30,956         32,968
                                   ------------------------------------------
Net Cash From Financing
 Activities                            46,403        182,229        228,632

                                   ------------------------------------------

Increase (Decrease) In Cash               (71)         1,076          1,005

Cash, Beginning Of Year                 1,076           -              -
                                   ------------------------------------------

Cash, End Of Year                  $    1,005     $    1,076     $    1,005
=============================================================================

  The accompanying notes are an integral part of these financial statements.

                                     F-4

<PAGE>
<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

            STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY)

                               DECEMBER 31, 2002
                            (Stated in U.S. Dollars)

<TABLE>
<CAPTION>



                             COMMON STOCK           DEFICIT
                     ------------------------------ ACCUMULATED
                     NUMBER OF         ADDITIONAL   DURING THE
                     COMMON     PAR    PAID-IN      DEVELOPMENT
                     SHARES    VALUE   CAPITAL      STAGE      TOTAL
                    ----------------------------------------------------
<S>                 <C>        <C>     <C>       <C>         <C>
Shares issued for
 cash at $0.001      2,500,000  $2,500  $      -  $       -   $   2,500

Shares issued for
 cash at $0.02       5,000,000   5,000    95,000          -     100,000

Shares issued for
 cash at $0.25           8,500       9     2,116          -       2,125

Net loss for
 the year                    -       -         -   (184,407)   (184,407)
                    ----------------------------------------------------
Balance,
 December 31, 2001   7,508,500   7,509    97,116   (184,407)    (79,782)

Net loss for
 the year                    -       -         -    (62,760)    (62,760)
                    ----------------------------------------------------


Balance,
 December 31, 2002  7,508,500  $7,509  $ 97,116  $(247,167)  $(142,542)
                    ====================================================

</TABLE>


The accompanying notes are an integral part of these financial statements.

                                   F-5

<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

1.	OPERATIONS

a)	Organization

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

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.  The Company's entry into the natural gas and oil
business began on February 8, 2001.

b)	Development Stage Activities

The Company is a development stage enterprise engaged in the
exploration for and production of natural gas and oil in the
United States.  Since January 9, 2001, the Company has
acquired an 8.9% working interest in a well which commenced
production in February 2001.

The Company is subject to several categories of risk
associated with its development stage activities.  Natural
gas and oil exploration and production is a speculative
business, and involves a high degree of risk.  Among the
factors that have a direct bearing on the Company's
prospects are uncertainties inherent in estimating natural
gas and oil reserves, future hydrocarbon production, and
cash flows, particularly with respect to wells that have not
been fully tested and with wells having limited production
histories; access to additional capital; changes in the
price of natural gas and oil; availability and cost of
services and equipment; and the presence of competitors with
greater financial resources and capacity.

c)	Going Concern

The accompanying financial statements have been prepared
assuming that the Company will continue as a going concern.

                                 F-6


<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

1.	OPERATIONS

c)	Going Concern (Continued)

As shown in the accompanying financial statements, the
Company has incurred a net loss of $247,167 since inception.
To achieve profitable operations, the Company requires
additional capital for obtaining producing oil and gas
properties through either the purchase of producing wells or
successful exploration activity.  Management believes that
sufficient funding will be available to meet its business
objectives including anticipated cash needs for working
capital and is currently evaluating several financing
options.  However, there can be no assurance that the
Company will be able to obtain sufficient funds to continue
the development of and, if successful, to commence the sale
of its products under development.  As a result of the
foregoing, there exists substantial doubt about the
Company's ability to continue as a going concern.  These
financial statements do not include any adjustments that
might result from the outcome of this uncertainty.


2.	SIGNIFICANT ACCOUNTING POLICIES

a)	Use of Estimates

The preparation of financial statements in conformity with
accounting principles generally accepted in the United
States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities,
and disclosure of contingent assets and liabilities at the
date of the financial statements, and the reported amounts
of revenues and expenses during the reporting periods.
Actual results could differ from those estimates.
Significant estimates with regard to these financial
statements include the estimate of proved natural gas and
oil reserve quantities and the related present value of
estimated future net cash flows therefrom (see
"Supplemental Oil and Gas Disclosures").

                                   F-7

<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

b)	Oil and Gas Properties

The Company accounts for its oil and gas producing
activities using the full cost method of accounting as
prescribed by the United States Securities and Exchange
Commission ("SEC").  Accordingly, all costs incurred in
the acquisition, exploration, and development of proved oil
and gas properties, including the costs of abandoned
properties, dry holes, geophysical costs, and annual lease
rentals are capitalized.  All general corporate costs are
expensed as incurred.  In general, sales or other
dispositions of oil and gas properties are accounted for as
adjustments to capitalized costs, with no gain or loss
recorded.  Amortization of evaluated oil and gas properties
is computed on the units of production method based on all
proved reserves on a country-by-country basis.  Unevaluated
oil and gas properties are assessed at least annually for
impairment either individually or on an aggregate basis.
The net capitalized costs of evaluated oil and gas
properties (full cost ceiling limitation) are not to exceed
their related estimated future net revenues discounted at
10%, and the lower of cost or estimated fair value of
unproved properties, net of tax considerations.

c)	Joint Ventures

All exploration and production activities are conducted
jointly with others and, accordingly, the accounts reflect
only the Company's proportionate interest in such
activities.

d)	Revenue Recognition

The Company recognizes oil and gas sales upon delivery to
the purchaser.

e)	Other Equipment

Computer equipment is stated at cost.  Provision for
depreciation on computer equipment is calculated using the
straight-line method over the estimated useful life of three
years.

f)	Impairment of Long-Lived Assets

In the event that facts and circumstances indicate that the
costs of long-lived assets, other than oil and gas
properties, may be impaired, and evaluation of
recoverability would be performed.  If an evaluation is
required, the estimated future undiscounted cash flows
associated with the asset would be compared to the asset's
carrying amount to determine if a write-down to market value
or discounted cash flow value is required.  Impairment of
oil and gas properties is evaluated subject to the full cost
ceiling as described under Oil and Gas Properties.

                                    F-8

<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

2.	SIGNIFICANT ACCOUNTING POLICIES (Continued)

g)	Loss Per Share

In February 1997, the Financial Accounting Standards Board
issued Statement of Financial Accounting Standards No. 128,
"Earnings Per Share" ("SFAS 128").  Under SFAS 128, basic
and diluted earnings per share are to be presented.  Basic
earnings per share is computed by dividing income available
to common shareholders by the weighted average number of
common shares outstanding in the period.  Diluted earnings
per share takes into consideration common shares outstanding
(computed under basic earnings per share) and potentially
dilutive common shares.

h)	Income Taxes

The Company follows the liability method of accounting for
income taxes under which deferred tax assets and liabilities
are recognized for the future tax consequences of (i)
temporary differences between the tax bases of assets and
liabilities, and their reported amounts in the financial
statements, and (ii) operating loss and tax credit
carryforwards for tax purposes.  Deferred tax assets are
reduced by a valuation allowance when, based upon
management's estimates, it is more likely than not that a
portion of the deferred tax assets will not be realized in a
future period.

i)	Financial Instruments

The Company's financial instruments consist of cash,
accounts payable, advances payable, and amounts due to
related parties.

It is management's opinion that the Company is not exposed
to significant interest or credit risks arising from these
financial instruments.  The fair value of these financial
instruments approximate their carrying values.

j)	Stock Based Compensation

The Company accounts for employee stock based compensation
using the intrinsic value method prescribed in Accounting
Principles Board Opinion No. 25 - "Accounting for Stock
Issued to Employees", and related interpretations.
Accordingly, compensation cost for stock options is measured
as the excess, if any, of the fair value of the Company's
common stock at the date of the grant over the amount an
employee must pay to acquire the common stock.  Non-employee
stock based compensation is accounted for using the fair
value method in accordance with SFAS No. 123 - "Accounting
for Stock Based Compensation".

                                    F-9

<PAGE>

                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)


3.	OIL AND GAS PROPERTIES

i)	On February 7, 2001, the Company acquired an 8.9%
working interest in a gas well located in California at a cost
of $90,000.  The well commenced production in February 2001
following a redrill.

ii)	On July 5, 2001, the Company acquired a 2.5% working
interest in certain oil and gas leases located in California
at a cost of $50,000, $20,000 of which has been paid and
$30,000 is payable on January 4, 2004, together with accrued
interest at 6.5% (Note 6).

During the year ended December 31, 2002, the well was
plugged and abandoned, and the Company charged $10,000 (2001
- $108,690) to the statement of operations.


4.	ADVANCES PAYABLE

Advances payable are repayable on demand, unsecured and bear
interest at 6.5% per annum.  Advances payable include $20,167
(2001 - $19,145) due to a director.


5.	PROMISSORY NOTE PAYABLE

                                                             2002     2001
                                                          -------------------

Unsecured loan, repayable January 4, 2004,together
 with accrued interest at a rate of 6.5%                   $ 32,968 $ 32,968
                                                          ===================

6.	INCOME TAX

The Company has provided a full valuation allowance of
approximately $68,000 on the deferred tax asset because of the
uncertainty of realizability.  The Company has net operating
loss carryforwards totaling approximately $181,000 that expire
as follows:

                          2021    $ 132,000
                          2022    $  49,000

7.	RELATED PARTY TRANSACTIONS

During the year ended December 31, 2002, $3,398 (2001 - $Nil)
was paid to a director as administration fees.  As at December
31, 2002, accounts payable include $3,756 (2001 - $Nil) due to
the director.

                                      F-10

<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited)

The following disclosures provide unaudited information required
by SFAS No. 69 - "Disclosures About Oil and Gas Producing
Activities".

Capitalized Costs Incurred

Capitalized costs incurred in natural gas and oil property
acquisition, exploration and development activities are
summarized below:

                                                          2002       2001
                                                       ----------------------

Property acquisition costs
  Proved                                                $  90,000  $  90,000
Exploration costs                                            -          -
Development costs                                          12,346     10,115
                                                       ----------------------
Total costs incurred                                    $ 102,346  $ 100,115
                                                       ======================
Natural Gas and Oil Reserves

Proved reserves are estimated quantities of natural gas and oil
that geological and engineering data demonstrate with reasonable
certainty to be recoverable in future years from known reservoirs
under existing economic and operating conditions.  Proved
developed reserves are proved reserves that reasonably can be
expected to be recovered through existing wells with existing
equipment and operating methods.

Proved natural gas and oil reserve quantities at December 31,
2002 and 2001, and the related discounted future net cash flows
before income taxes are based on estimates prepared by Mark
Anderson, P.E., independent consulting engineer.  Such estimates
have been prepared in accordance with guidelines established by
the Securities and Exchange Commission.

                                   F-11

<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited) (Continued)

Natural Gas and Oil Reserves (Continued)

The Company's net ownership interests in estimated quantities of
proved natural gas and oil reserves and changes in net proved
reserves, all of which are located in the continental United
States, are summarized below:

                                                                     NATURAL
                                                                       GAS
                                                                    ---------
                                                                      (MCF)

Reserves, January 1, 2001                                             20,781

Production                                                            (5,859)
                                                                    ---------

Reserves, December 31, 2001                                           14,922

Extensions and revisions                                              (6,289)
Production                                                            (4,787)
                                                                    ---------

Reserves, December 31, 2002                                            3,846
                                                                    =========

Standardized Measure

The standardized measure of discounted future net cash flows
relating to the Company's ownership interests in proved natural
gas and oil reserves is shown below:

                                                          2002       2001
                                                       ----------------------

Future cash flows                                       $  15,153  $  37,752
Future operating expenses                                   8,931     14,743
                                                       ----------------------


Future net cash flows                                       6,222     23,009
10% annual discount for estimated timing of
  cash flows                                                 (640)     3,312
                                                       ----------------------
Standardized measure of discounted future net
  cash flows                                            $   6,862  $  19,697
                                                       ======================


Future cash flows are computed by applying fiscal period end
prices of natural gas and oil to period end quantities of proved
natural gas and oil reserves.  Future operating expenses and
development costs are computed primarily by the Company's
petroleum engineers by estimating the expenditures to be incurred
in developing and producing the Company's proved natural gas and
oil reserves at the end of the period, based on period end costs
and assuming continuation of existing economic conditions.

                                   F-12

<PAGE>


                              DELTA OIL & GAS, INC.
                          (A Development Stage Company)

                          NOTES TO FINANCIAL STATEMENTS

                           DECEMBER 31, 2002 AND 2001
                            (Stated in U.S. Dollars)

SUPPLEMENTAL OIL AND GAS DISCLOSURES (Unaudited) (Continued)

Standardized Measure (Continued)

Future income taxes are based on period end statutory rates,
adjusted for tax basis and applicable tax credits.  A discount
factor of 10 percent was used to reflect the timing of future net
cash flows.  The standardized measure of discounted future net
cash flows is not intended to represent the replacement cost of
fair value of the Company's natural gas and oil properties.  An
estimate of fair value would also take into account, among other
things, the recovery of reserves not presently classified as

proved, anticipated future changes in prices and costs, and a
discount factor more representative of the time value of money
and the risks inherent in reserve estimate of natural gas and oil
producing operations.

Change in Standardized Measure


Changes in the standardized measure of future net cash flows
relating to proved natural gas and oil reserves are summarized
below:

                                                          2002       2001
                                                       ----------------------

Changes due to current period operations
  Sales of natural gas and oil, net of
    natural gas and oil operating expenses              $   7,606  $  35,582
  Purchases of natural gas and oil properties                 -       90,000
Changes due to revisions in standardized variables            -         -
  Prices                                                  (20,441)  (105,885)
                                                       ----------------------
Net change                                                (12,835)    19,697
Beginning of year                                          19,697       -
                                                       ----------------------

End of year                                             $   6,862  $  19,697
                                                       ======================

                                      F-13

<PAGE>

Item 8.  Changes  in  and  Disagreements  with  Accountants  on  Accounting and
Financial  Disclosure

We have had no changes in or disagreements with our accountants on accounting or
financial  disclosures  during  the  fiscal  year  ended  December  31, 2002.

                                    PART III

Item 9.  Directors  and  Executive  Officers,  Promoters  and  Control Persons;
Compliance  with  Section  16(a)  of  the  Exchange  Act.

Our  executive  officers and directors and their respective ages as of April 15,
2003  are  as  follows:

Directors:

Name of Director             Age
----------------------       -----
Pamela Starek                 36

Steve Burwell                 32

Executive Officers:

Name of Officer              Age     Office
--------------------         -----   -------
Pamela Starek                 36     President and Chief
                                     Executive  Officer and Chief Financial
                                     Officer
Steve Burwell                 32     Secretary

Pamela Starek and  Steve Burwell became directors and officers at the inception
of the Company in January, 2001.  The following information sets forth certain
of their biographical  information.
                                  10
<PAGE>
Pamela Starek

From  1995  to 1998, Ms. Starek was the corporate secretary for and an executive
for  Corporate  Concepts  Inc.,  a  management  company specializing in managing
public companies that trade on the Canadian Venture Exchange. From 1997 to 1999,
Ms.  Starek  was  a partner and owner of International Canadian Model Management
Corp.,  an  international  talent  company. From 1999 to the present, Ms. Starek
serves as the corporate secretary for a number of publicly traded companies that
trade  on  the  Canadian  Venture  Exchange.  In  1984, Ms. Starek completed the
General  Studies  Certificate  from Douglas College in New Westminster, BC. From
1984  to  1986  she  studied at the University of British Columbia. In 1994, Ms.
Starek completed the Entrepreneurial Business Development program at the British
Columbia  Institute  of  Technology  in  Burnaby,  BC.

Steve  Burwell

Mr.  Burwell, a member of our board of directors and our corporate secretary, is
presently  a  full  time  law student at the University of Washington in Seattle
Washington.  Prior  to  entering  law  school  on June  1,  2001,  he  worked
in  the retail industry of products related to home
improvement.  From  October  1996  to  June  1997  he  worked  for  Blanchett  &
Associates.  From  June 1997 to August 1998 he worked for West Coast Vinyl. From
August  1998  to February 2000 he worked for Life Time Exteriors. From June 1998
through  2000  he  also worked for HouseQuake Productions, a company in which he
was  a  part  owner.  From  January,  2001, to June, 2001, when he commenced law
school,  Mr.  Burwell  prepared  for  and  took the law school entrance exam and
prepared  to  enter  school.


Term  of  Office

Our  Directors are appointed for terms of one year to hold office until the next
annual meeting  of the holders of our common stock, or  until removed from
office in accordance with our bylaws.  Officers  are  appointed by our board of
directors and hold office until  removed  by  the  board.

Significant  Employees

We have no significant employees other than Pamela Starek.

Section  16(a)  Beneficial  Ownership  Reporting  Compliance

There were no reports required by section
16(a)  of  the  Exchange Act during the most recent fiscal year that were either
not filed or not filed on a timely basis.  Also, the Company has no knowledge of
any  transactions  that  are required to be reported that were not reported on a
timely  basis.

Item 10.  Executive  Compensation

The  following  table  sets  forth compensation information for our officers and
directors.

                            Annual Compensation Table


                         Annual Compensation      Long Term Compensation
                    ----------------------------  ------------------------
                                            Other                           All
                                           Annual                          Other
                                            Com-                            Com-
                                            pen-  Restricted                pen-
                  Fiscal                    sa-   Stock   Options/  LTIP    sa-
Name     Title     Year     Salary  Bonus   tion  Awarded SARs*(#)payouts($)tion
----     -----   ---------  ------  -----  ------ ------- ------- --------- ----
Pamela   Pres,   2000-2001    0       0       0      0       0       0       0
Starek   and     2001-2002  $3,756    0       0      0       0       0       0
         Director
                                       11
<PAGE>
Item 11.     Security  Ownership  of  Certain  Beneficial Owners and Management

The  following  table sets forth as of April 15, 2003, the number and percentage
of  the  outstanding shares of common stock which were beneficially owned by (i)
each  person  who  is  currently a director of  the Company, (ii) each executive
officer,  (iii) all current directors and executive officers of the Company as a
group  and  (iv)  each person who is the beneficial owner of more than 5% of the
outstanding  common  stock.  The persons named in the table have sole voting and
dispositive  power  with  respect  to  all  shares  beneficially  owned.


                                             Amount of
                     Name and address        beneficial            Percent
Title of class       of beneficial owner     ownership             of  class(1)
----------------     -------------------     --------------------  ------------
Common Stock         Pamela Starek           2,500,000 shares       33.3%
                     4300 West 9th  Ave.
                     Vancouver, B.C. V6R 2C7


Common Stock         All Officers and        2,500,000 shares       33.3%
                     Directors as a Group
                     that consists of
                     two persons

(1)  The  percent  of  class is based on 7,508,500 shares of common stock issued
     and  outstanding  as  of  April 15, 2003.

Item 12.  Certain  Relationships  and  Related  Transactions.

Except  as discussed below, none of the following parties has, since our date of
incorporation, had any material interest, direct or indirect, in any transaction
with  us  or  in any presently proposed transaction which has or will materially
affect  us:

1.   Any  of  our  directors  or  officers;
2.   Any  person  proposed  as  a  nominee  for  election  as  a  director;
3.   Any  person  who beneficially owns, directly or indirectly, shares carrying
     more  than  5%  of  the voting rights attached to our outstanding shares of
     common  stock;
4.   Any  of  our  promoters;
5.   Any  relative  or  spouse  of any of the foregoing persons who has the same
     house  as  such  person.

As of December 31, 2002, accounts payable included $3,756 due to Pamela Starek,
our CEO and director.






                                 12

<PAGE>



                                     PART IV

Item 13.  Exhibits  and  Reports  on  Form  8-K

Exhibits
--------
EXHIBIT
NUMBER        DESCRIPTION
---------     --------------------
3.1            Articles  of  Incorporation  (1)
3.2            By-Laws(1)
10.1           Operating  Agreement  dated  December  29,  2000  (2)
10.2           Assignment  Agreement  dated  February  7,  2001  (2)
10.3           Operating  Agreement  dated  January  1,  2001  (2)
10.4           Letter  Agreement  dated  March  19,  2001  (2)
10.5           Participation  Agreement  dated  July  4,  2001  (2)
10.6           Assignment  Agreement  dated  July  5,  2001  (2)

(1)  Previously  filed  as an exhibit to the Company's Form SB-2 on February 13,
     2002.
(2)  Previously  filed  as  an  exhibit to the Company's Amendment No. 2 to Form
     SB-2  on  August  7,  2002.


Reports  on  Form  8-K
----------------------

None

Item 14.  Controls  and  Procedures.

As  required  by  Rule  13a-14  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, Ms. Pamela Starek.  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 which is 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.

                                     13
<PAGE>
                                   SIGNATURES

In  accordance  with  Section  13  or  15(d) of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                        DELTA OIL & GAS, INC.

                                        By:  /s/ Pamela Starek
                                             ________________________
                                             Pamela Starek, President

                                        Date:  April 15, 2003

In  accordance  with  the Exchange Act, this report has been signed below by the
following  persons  on behalf of the registrant and in the capacities and on the
dates  indicated.

                                       /s/ Pamela Starek
                                       _____________________________
                                       Pamela Starek
                                       Director
                                       Principal Executive Officer
                                       Principal Financial Officer
                                       Principal Accounting Officer
                                       April 15, 2003

                                       /s/ Steve Burwell
                                       _____________________________
                                       Steve Burwell
                                       Director
                                       April 15, 2003

                                     14



<PAGE>
























                                 CERTIFICATIONS

I,  Pamela Starek,  certify  that;

(1)  I  have  reviewed this annual report on Form10-KSB of Delta Oil & Gas,
Inc.;

(2)  Based  on  my  knowledge,  this  annual  report does not contain any untrue
     statement  of a material fact or omit to state a material fact necessary to
     make  the  statements  made, in light of the circumstances under which such
     statements  were made, not misleading with respect to the period covered by
     this  annual  report;

(3)  Based  on  my  knowledge,  the  financial  statements,  and other financial
     information  included in this annual report, fairly present in all material
     respects  the  financial condition, results of operations and cash flows of
     the Registrant as of, and for, the periods presented in this annual report;

(4)  The  Registrant's  other  certifying  officers  and  I  are responsible for
     establishing and maintaining disclosure controls and procedures (as defined
     in  Exchange  Act  Rules  13a-14  and  15d-14) for the Registrant and have:

     a)   designed  such  disclosure  controls  and  procedures  to  ensure that
          material  information  relating  to  the  Registrant,  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;

     b)   evaluated  the  effectiveness  of the Registrant's disclosure controls
          and procedures as of a date within 90 days prior to the filing date of
          this  annual  report  (the  "Evaluation  Date");  and

     c)   presented  in  this  annual  report  our  conclusions  about  the
          effectiveness  of  the disclosure controls and procedures based on our
          evaluation  as  of  the  Evaluation  Date;

(5)  The  Registrant's  other certifying officers and I have disclosed, based on
     our  most  recent  evaluation,  to  the Registrant's auditors and the audit
     committee  of  Registrant's  board  of directors (or persons performing the
     equivalent  functions):

     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

     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


(6)  The  Registrant's  other  certifying  officers and I have indicated in this
     annual  report  whether  or  not there were significant changes in internal
     controls  or  in  other  facts  that  could  significantly  affect internal
     controls  subsequent  to  the date of our most recent evaluation, including
     any corrective actions with regard to significant deficiencies and material
     weaknesses.


Date:   April 15, 2003                  /s/ Pamela Starek
                                        _______________________________
                                        Pamela Starek
                                        Principal Executive Officer
                                        Principal Financial Officer



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<PAGE>



                  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

I,  Pameka Starek,  certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant  to  Section  906  of  the  Sarbanes-Oxley Act of 2002, that the Annual
Report  on  Form 10-KSB of Delta Oil & Gas, Inc. for the year ended December 31,
2002  fully  complies  with  the  requirements  of Section 13(a) or 15(d) of the
Securities Exchange Act of 1934 and that the information contained in the Annual
Report  on  Form  10-KSB  fairly presents in all material respects the financial
condition  and  results  of  operations  of  Delta Oil & Gas, Inc..

                                       By:     /s/ Pamela Starek
                                               ----------------------------
                                       Name:   Pameka Starek
                                       Title:  Chief  Executive  Officer,
                                               Chief  Financial Officer


                                       Date:   April  15,  2003



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