---

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 10-Q /A
    Amendment #1

[X] QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2009

OR

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

Commission file number000-53665

AM OIL RESOURCES & TECHNOLOGY
INC.(Exact name of registrant as specified in its
charter)

NEVADA(State or other jurisdiction
of incorporation or organization)

27240 Turnberry Lane, Suite 200Valencia,
California 91355(Address of principal executive offices,
including zip code.)

800-646-6570(Registrants telephone
number, including area code)

Check whether the issuer (1) 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 last
90 days.YES [X]    NO [   ]

Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of large accelerated filer,
accelerated filer, non-accelerated filer, and smaller reporting
company in Rule 12b-2 of the Exchange Act.

|Large accelerated Filer[   ]         | Accelerated
      Filer [   ]
|------------------------------------ | -----------------------------
|Non-accelerated Filer   
      [   ] | Smaller Reporting Company[X] 

Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act).YES [X]    NO
[   ]

State the number of shares outstanding of each of the issuers
classes of common equity, as of the latest practicable date: 41,400,000 as
of August 14, 2009.

---

|Table of Contents
|-----------------

10-Q - AM OIL RESOURCES & TECHNOLOGY INC. FORM 10-Q FOR
  JUNE 30, 2009

PART I

|ITEM 1. | FINANCIAL STATEMENTS                                             
|------- | -----------------------------------------------------------------
|ITEM 2. | MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN
      OF OPERATION. 
|ITEM 3. | QUANTITATIVE AND QUALITATIVE DISCLOSURES
      ABOUT MARKET RISK.
|ITEM 4. | CONTROLS AND PROCEDURES.                                         

PART II.

|ITEM 1A.   | RISK FACTORS
|---------- | ------------
|ITEM 5.    | OTHER EVENTS
|ITEM 6.    | EXHIBITS.   
|SIGNATURES

---

PART I  FINANCIAL INFORMATION

ITEM
1.           FINANCIAL
STATEMENTS

AM Oil Resources & Technology Inc. (Formerly Aventerra
Explorations Inc.) (An Exploration Stage Company) June 30, 2009

|                                                                 | Index
|---------------------------------------------------------------- | -----
|                                                                 |      
|Consolidated
      Balance Sheets (unaudited)                    | F-1  
|                                                                 |      
|Consolidated
      Statements of Expenses (unaudited)            | F-2  
|                                                                 |      
|Consolidated
      Statements of Cash Flows (unaudited)          | F-3  
|                                                                 |      
|Notes
      to the Consolidated Financial Statements (unaudited) | F-4  



Amendment Explanation: On November 17, 2009, it was
determined that patents which were to be transferred to the Company by a Vendor
had expired for failure to pay maintenance fees by the holder of the patents,
thus leaving the patents open to the public domain. It was determined that US
Patent No. 5979549 expired for failure to pay a maintenance fee on November 11,
2007 and US Patent No. 6129148 expired for failure to pay a maintenance fee on
October 10, 2008. The Company did not have good and marketable title to these
assets. The Vendor did not own and failed to assign the patents to the Company,
being US Patent No. 5979549 and US Patent No. 6129148. As a result, the Vendor
did not have clear title to convey ownership of the patents. Consequently, the
Company never received title to these patents and due to the breach by the
Vendor, the Company was never obligated to pay the $500,000 or issue the
30,000,000 shares pursuant to an agreement with the Vendor. The shares and the
debt were cancelled by the Company and no payments the Company were made
pursuant to the agreement.

Because the Company never received title, the Company
determined that it never owned the assets, which resulted in an error in the
first two quarters of 2009. As a result, this quarterly reports on Form 10-Q is
being amended and restated to remove the patent asset and related debt. In
addition, the cancellation of common stock issued in connection with this
transaction was reflected in the amended quarterly filings.

---

AM Oil Resources & Technology Inc. (Formerly Aventerra
Explorations Inc.) (An Exploration Stage Company) Consolidated Balance
Sheets (unaudited)

|                                                                                                                                     |   | June 30,   |   |   | December 31, |  
|------------------------------------------------------------------------------------------------------------------------------------ | - | ---------- | - | - | ------------ | -
|                                                                                                                                     |   | 2009       |   |   | 2008         |  
|                                                                                                                                     |   | (Restated) |   |   |              |  
|                                                                                                                                     |   |            |   |   |              |  
|ASSETS                                                                                                                               |   |            |   |   |              |  
|                                                                                                                                     |   |            |   |   |              |  
|Current Assets                                                                                                                       |   |            |   |   |              |  
|                                                                                                                                     |   |            |   |   |              |  
|Cash and cash equivalents                                                                                                            | $ | 187        |   | $ | 9,791        |  
|                                                                                                                                     |   |            |   |   |              |  
|Prepaid expenses                                                                                                                     |   | 2,000      |   |   |             |  
|                                                                                                                                     |   |            |   |   |              |  
|Total Assets                                                                                                                         | $ | 2,187      |   | $ | 9,791        |  
|                                                                                                                                     |   |            |   |   |              |  
|LIABILITIES AND STOCKHOLDERS DEFICIT                                                                                                |   |            |   |   |              |  
|                                                                                                                                     |   |            |   |   |              |  
|Current Liabilities                                                                                                                  |   |            |   |   |              |  
|Accounts payable                                                                                                                     |   | 91,613     |   |   | 47,701       |  
|Accounts payable related
      party                                                                                                |   | 1,994      |   |   | -            |  
|Accrued liabilities                                                                                                                  |   | 5,295      |   |   | 3,875        |  
|                                                                                                                                     |   |            |   |   |              |  
|Total Current
      Liabilities                                                                                                      |   | 98,902     |   |   | 51,576       |  
|                                                                                                                                     |   |            |   |   |              |  
|                                                                                                                                     |   |            |   |   |              |  
|Stockholders (Deficit)                                                                                                              |   |            |   |   |              |  
|                                                                                                                                     |   |            |   |   |              |  
|Preferred Stock, 100,000,000 shares
      authorized, $0.00001 par value, No shares issued and outstanding                           |   |           |   |   |             |  
|                                                                                                                                     |   |            |   |   |              |  
|Common Stock, 150,000,000 shares
      authorized, $0.00001 par value, 41,400,000 and 98,900,000 shares
      issued and outstanding |   | 414        |   |   | 989          |  
|                                                                                                                                     |   |            |   |   |              |  
|Additional Paid-in Capital                                                                                                           |   | 36,086     |   |   | 50,511       |  
|                                                                                                                                     |   |            |   |   |              |  
|Deficit Accumulated During the Exploration Stage                                                                                     |   | (133,215   | ) |   | (93,285      | )
|                                                                                                                                     |   |            |   |   |              |  
|Total Stockholders Deficit                                                                                                          |   | (96,715    | ) |   | (41,785      | )
|                                                                                                                                     |   |            |   |   |              |  
|Total Liabilities and Stockholders Deficit                                                                                          | $ | 2,187      |   | $ | 9,791        |  

(The accompanying notes are an integral part of these
consolidated unaudited financial statements)

F-1

---

AM Oil Resources & Technology Inc. (Formerly Aventerra
Explorations Inc.) (An Exploration Stage Company) Consolidated
Statements of Expenses (unaudited)

|                                                                         |   |                             |   |   |           |   |   | Six months ended June 30, |   |   | Period from       |  
|------------------------------------------------------------------------ | - | --------------------------- | - | - | --------- | - | - | ------------------------- | - | - | ----------------- | -
|                                                                         |   | Three months ended June 30, |   |   |           |   |   |                           |   |   | February 27, 2007 |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|                                                                         |   | 2009                        |   |   | 2008      |   |   | 2009                      |   |   | 2008              |  
|                                                                         |   | (Restated)                  |   |   |           |   |   | (Restated)                |   |   |                   |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Expenses                                                                 |   |                             |   |   |           |   |   |                           |   |   |                   |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|General and Administrative                                               | $ | 16,187                      |   | $ |          |   | $ | 31,002                    |   | $ |                  |  
|Management fees                                                          |   | 9,000                       |   |   |          |   |   | 9,000                     |   |   |                  |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Total costs and expenses                                                 |   | (25,187                     | ) |   |          |   |   | (40,002                   | ) |   |                  |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Foreign currency exchange gain                                           |   |                            |   |   |          |   |   | 72                        |   |   |                  |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Loss Before Discontinued Operations                                      |   | (25,187                     | ) |   | (16,887   | ) |   | (39,930                   | ) |   | (28,994           | )
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Loss from discontinued operations:                                       |   |                             |   |   |           |   |   |                           |   |   |                   |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Discontinued operations                                                  |   |                            |   |   | (16,887   | ) |   |                          |   |   | (28,994           | )
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Net Loss                                                                 | $ | (25,187                     | ) | $ | (16,887   | ) | $ | (39,930                   | ) | $ | (28,994           | )
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Net Loss Per Common Share 
           Basic and Diluted:                |   |                             |   |   |           |   |   |                           |   |   |                   |  
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Discontinued Operations                                                  |   | N/A                         |   | $ | ( 0.00    | ) |   | N/A                       |   | $ | ( 0.00            | )
|Net Loss                                                                 | $ | (0.00                       | ) | $ | ( 0.00    | ) | $ | ( 0.00                    | ) | $ | ( 0.00            | )
|                                                                         |   |                             |   |   |           |   |   |                           |   |   |                   |  
|Weighted Average Common Shares 
          Outstanding Basic and Diluted |   | 41,400,000                  |   |   | 8,600,000 |   |   | 58,237,000                |   |   | 8,600,000         |  

(The accompanying notes are an integral part of these
consolidated unaudited financial statements)

F-2

---

AM Oil Resources & Technology Inc. (Formerly Aventerra
Explorations Inc.) (An Exploration Stage Company) Consolidated
Statements of Cash Flows (unaudited)

|                                                                             |   |                           |   |   |         |   |   | Period from  |  
|---------------------------------------------------------------------------- | - | ------------------------- | - | - | ------- | - | - | ------------ | -
|                                                                             |   |                           |   |   |         |   |   | February 27, |  
|                                                                             |   | Six months ended June 30, |   |   | 2007    |  
|                                                                             |   |                           |   |   |         |   |   | (Date of     |  
|                                                                             |   |                           |   |   |         |   |   | Inception)   |  
|                                                                             |   |                           |   |   |         |   |   | To June 30,  |  
|                                                                             |   | 2009                      |   |   | 2008    |   |   | 2009         |  
|                                                                             |   | (Restated)                |   |   |         |   |   | (Restated)   |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Operating Activities                                                         |   |                           |   |   |         |   |   |              |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Net loss                                                                     | $ | (39,930                   | ) | $ | (28,994 | ) | $ | (133,215     | )
|                                                                             |   |                           |   |   |         |   |   |              |  
|Adjustment to reconcile net loss
      to cash used in operating activities: |   |                           |   |   |         |   |   |              |  
|Donated services and expenses                                                |   |                          |   |   | 3,000   |   |   | 10,500       |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Changes in operating assets and liabilities:                                 |   |                           |   |   |         |   |   |              |  
|Prepaid expenses                                                             |   | (2,000                    | ) |   | (1,224  | ) |   | (2,000       | )
|Account payable                                                              |   | 28,912                    |   |   | 10,626  |   |   | 53,803       |  
|Accrued liabilities                                                          |   | 1,420                     |   |   | 1,767   |   |   | 5,295        |  
|Due to related party                                                         |   | 1,994                     |   |   |        |   |   | 1,994        |  
|Net Cash Used in Operating Activities                                        |   | (9,604                    | ) |   | (14,825 | ) |   | (63,623      | )
|                                                                             |   |                           |   |   |         |   |   |              |  
|Financing Activities                                                         |   |                           |   |   |         |   |   |              |  
|Issuance of common stock                                                     |   |                          |   |   |        |   |   | 41,000       |  
|Due to related party                                                         |   |                          |   |   |        |   |   | 22,810       |  
|Net Cash Provided by Financing Activities                                    |   |                          |   |   |        |   |   | 63,810       |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Increase (Decrease) in Cash                                                  |   | (9,604                    | ) |   | (14,825 | ) |   | 187          |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Cash
       Beginning of Period                                             |   | 9,791                     |   |   | 30,841  |   |   |             |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Cash
       End of Period                                                   | $ | 187                       |   | $ | 16,016  |   | $ | 187          |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Supplemental Disclosures                                                     |   |                           |   |   |         |   |   |              |  
|Interest paid                                                                |   |                          |   |   |        |   |   |             |  
|Income taxes paid                                                            |   |                          |   |   |        |   |   |             |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Non-Cash Disclosures                                                         |   |                           |   |   |         |   |   |              |  
|                                                                             |   |                           |   |   |         |   |   |              |  
|Reclass of related party debt to accounts payable                            | $ |                          |   | $ |        |   | $ | 22,810       |  
|Repurchase of common stock                                                   | $ | 15,000                    |   | $ |        |   | $ | 15,000       |  

(The accompanying notes are an integral part of these
consolidated unaudited financial statements)

F-3

---

AM Oil Resources & Technology Inc. (Formerly Aventerra
Explorations Inc.) (An Exploration Stage Company) Notes to the
Consolidated Statements of Cash Flows

|1. | Basis of Presentation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | The accompanying unaudited interim financial statements
      of AM Oil Resources & Technology, Inc. (the Company) have been
      prepared in accordance with accounting principles generally accepted in
      the United States of America and the rules of the Securities and Exchange
      Commission (SEC), and should be read in conjunction with the audited
      financial statements and notes thereto contained in the Companys December
      31, 2008 Annual Report filed with the SEC on Form 10-K. In the opinion of
      management, all adjustments, consisting of normal recurring adjustments,
      necessary for a fair presentation of financial position and the results of
      operations for the interim periods presented have been reflected herein.
      The results of operations for interim periods are not necessarily
      indicative of the results to be expected for the full year. Notes to the
      financial statements which would substantially duplicate the disclosure
      contained in the audited financial statements for the most recent fiscal
      year end December 31, 2008 as reported on Form 10-K, have been
    omitted.                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | Reclassifications                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | Certain prior year amounts have been reclassified to
      conform with the current year presentation.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | Recently Issued Accounting
      Pronouncements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | The company does not expect the adoption of recently
      issued accounting pronouncements to have a significant impact on its
      results of operations, financial position or cash flows.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | Effective this quarter, the Company implemented
      Accounting Standard Codification (ASC) 855 Subsequent Events (ASC855).
      This standard establishes general standards of accounting for and
      disclosure of events that occur after the balance sheet date but before
      financial statements are issued. The adoption of ASC 855 did not impact
      the Companys financial position or results of operations. The Company
      evaluated all events or transactions that occurred after June 30, 2009 up
      through August 14, 2009, the date the Company issued these financial
      statements. During this period, the Company did not have any material
      recognizable subsequent events.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|2. | Going Concern                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|   | These consolidated financial statements have been
      prepared on a going concern basis, which implies the Company will continue
      to realize its assets and discharge its liabilities in the normal course
      of business. The Company has not generated revenues since inception and
      has never paid any dividends and is unlikely to pay dividends or generate
      earnings in the immediate or foreseeable future. The continuation of the
      Company as a going concern is dependent upon the continued financial
      support from its shareholders, the ability of the Company to obtain
      necessary equity financing to continue operations and to determine the
      existence, discovery and successful exploitation of economically
      recoverable reserves in its resource properties, confirmation of the
      Companys interests in the underlying properties, and the attainment of
      profitable operations. As at June 30, 2009, the Company has working
      deficit and an accumulated deficit. These consolidated financial
      statements do not include any adjustments to the recoverability and
      classification of recorded asset amounts and classification of liabilities
      that might be necessary should the Company be unable to continue as a
      going concern. These factors raise substantial doubt regarding the
      Companys ability to continue as a going concern.

F-4

---

|3. | Restatement                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | On November 25, 2008, we entered into a preliminary Asset
      Purchase Agreement (the Agreement) with AM Oil Resources &
      Technology Inc., (the Vendor), an unrelated company prior to the
      purchase of the patents, to acquire two patents for technologies that
      maximize oil production from existing oil wells. This Agreement was
      finalized on March 11, 2009. Pursuant to the Agreement, we recognized the
      acquisition of the two patents in exchange for $500,000, in the form of a
      payable, and 30,000,000 shares of common stock. The patents covered
      certain oil and gas recovery enhancement techniques and were to expire in
      2020.                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | Because our stock is not actively traded, the patents
      were valued using a discounted future cash flow model, which was based on
      managements projections of future cash flows generated from the sale,
      license or other arrangement involving these patents. Based on the model,
      the patents were valued at $5,100,000 and were being amortized using the
      straight-line method over the life of the patents. The present value of
      the non-interest bearing $500,000 payable was recorded and the difference
      between the discounted rate and the face value was being accreted into
      interest expense over the life of the liability. Consequently we recorded
      a discount of $76,795 relating to the payable.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | During the quarter ended September 30, 2009, we
      discovered that the patents expired prior to the Agreement because certain
      maintenance fees were not kept current by the Vendor. As a result, the
      Vendor did not have clear title to convey ownership of the patents.
      Consequently, we never received title to these patents and due to the
      breach by the Vendor, we were never obligated to pay the $500,000 or issue
      the 30,000,000 shares pursuant to the Agreement. The shares and the debt
      were cancelled by the company and no payments were made pursuant to the
      Agreement.                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | Based on our findings, we never owned the patents and
      recording this transaction in the first quarter was in error. As a result,
      we are restating the June 30, 2009 financial statements filed on Form 10-Q
      to correct this error in those prior periods. The effect of the
      restatement is to derecognize the patent asset and related liability, as
      well as cancel the 30,000,000 shares issued under the Agreement.                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|   | The following tables illustrate the effects of the
      restatement on the June 30, 2009 financial
statements:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

| | Statement of Expenses                         |   |                                      |   |   |             |   |   |             |  
| | --------------------------------------------- | - | ------------------------------------ | - | - | ----------- | - | - | ----------- | -
| |                                               |   | Six
      months ended June 30, 2009 |  
| |                                               |   | As Reported                          |   |   | Adjustments |   |   | As Restated |  
| | Costs and Expenses                            |   |                                      |   |   |             |   |   |             |  
| | Amortization                                  | $ | 148,750                              |   | $ | (148,750    | ) | $ |            |  
| | Other income (expense):                       |   |                                      |   |   |             |   |   |             |  
| | Interest expense                              |   | 20,243                               |   |   | (20,243     | ) |   |            |  
| | Net loss                                      | $ | (208,923                             | ) | $ | 168,993     |   | $ | (39,930     | )
| | Net Loss per Common Share  Basic and Diluted | $ | (0.00                                | ) | $ | (0.01       | ) | $ | (0.00       | )
| | Weighted average common shares outstanding:   |   |                                      |   |   |             |   |   |             |  
| | Basic and diluted                             |   | 79,452,000                           |   |   | (21,215,000 | ) |   | 58,237,000  |  

| | Statement of Expenses                       |   |                                        |   |   |             |   |   |             |  
| | ------------------------------------------- | - | -------------------------------------- | - | - | ----------- | - | - | ----------- | -
| |                                             |   | Three
      months ended June 30, 2009 |  
| |                                             |   | As Reported                            |   |   | Adjustments |   |   | As Restated |  
| | Costs and Expenses                          |   |                                        |   |   |             |   |   |             |  
| | Amortization                                | $ | 127,500                                |   | $ | (127,500    | ) | $ |            |  
| | Other income (expense):                     |   |                                        |   |   |             |   |   |             |  
| | Interest expense                            |   | 18,541                                 |   |   | (18,541     | ) |   |            |  
| | Net loss                                    | $ | (171,228                               | ) | $ | (146,041    | ) | $ | (25,187     | )
| | Net Loss per Share  Basic and Diluted      | $ | (0.00                                  | ) | $ | (0.00       | ) | $ | (0.00       | )
| | Weighted average common shares outstanding: |   |                                        |   |   |             |   |   |             |  
| | Basic and diluted                           |   | 71,400,000                             |   |   | (30,000,000 | ) |   | 41,400,000  |  

---

| | Statement of Cash Flows                  |   |                                      |   |   |             |   |   |             |  
| | ---------------------------------------- | - | ------------------------------------ | - | - | ----------- | - | - | ----------- | -
| |                                          |   | Six
      months ended June 30, 2009 |  
| |                                          |   | As Reported                          |   |   | Adjustments |   |   | As Restated |  
| |                                          |   |                                      |   |   |             |   |   |             |  
| | Operating Activities                     |   |                                      |   |   |             |   |   |             |  
| | Net Loss                                 | $ | (208,923                             | ) | $ | 168,993     |   | $ | 39,930      |  
| | Accretion of discount on promissory note |   | 20,243                               |   |   | (20,243     | ) |   |            |  
| | Amortization                             |   | 148,750                              |   |   | (148,750    | ) |   |            |  
| | Net Cash Used in Operating Activities    | $ | (9,604                               | ) | $ |            |   | $ | (9,604      | )

| | Balance Sheet                                    |   |                     |   |   |              |   |   |             |  
| | ------------------------------------------------ | - | ------------------- | - | - | ------------ | - | - | ----------- | -
| |                                                  |   | June
      30, 2009 |  
| |                                                  |   |                     |   |   | Current Year |   |   |             |  
| |                                                  |   | As Reported         |   |   | Adjustments  |   |   | As Restated |  
| |                                                  |   |                     |   |   |              |   |   |             |  
| | ASSETS                                           |   |                     |   |   |              |   |   |             |  
| | Intangible
      assets                          | $ | 4,951,250           |   | $ | (4,951,250   | ) | $ |            |  
| | Total assets                                     | $ | 4,953,437           |   | $ | (4,951,250   | ) | $ | 2,187       |  
| |                                                  |   |                     |   |   |              |   |   |             |  
| | LIABILITIES AND STOCKHOLDERS EQUITY             |   |                     |   |   |              |   |   |             |  
| | Note payable                                     | $ | 443,448             |   | $ | (443,448     | ) | $ |            |  
| | Total liabilities                                |   | 542,350             |   |   | (443,448     | ) |   | 98,902      |  
| | Stockholders equity                             |   |                     |   |   |              |   |   |             |  
| | Common Stock                                     |   | 714                 |   |   | (300         | ) |   | 414         |  
| | Additional Paid-In Capital                       |   | 4,712,581           |   |   | (4,676,495   | ) |   | 36,086      |  
| | Retained earnings (deficit)                      |   | (302,208            | ) |   | 168,993      |   |   | (133,215    | )
| | Total stockholders
      deficit                |   | 4,411,087           |   |   | (4,507,802   | ) |   | 96,715      |  
| |                                                  |   |                     |   |   |              |   |   |             |  
| | Total liabilities and stockholders
      equity | $ | 4,953,437           |   | $ | (4,951,250   | ) | $ | 2,187       |  

F-5

---

|4. | Related Party Transactions
|-- | --------------------------
|   |                           
|   | a)                        
|   |                           
|   | b)                        
|   |                           
|   | c)                        
|   |                           
|   | d)                        

|5. | Common Stock
|-- | ------------
|   |             
|   | a)          
|   |             
|   | b)          
|   |             
|   | c)          

|6. | Discontinued Operations                                                                                                                                                                                                                                              
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                      
|   | During 2008, the Company abandoned further activity
      related to its mineral exploration business. As a result, the financial
      information in prior periods related to the mineral exploration business
      has been presented as discontinued operations.
|   |                                                                                                                                                                                                                                                                      
|   | The results of discontinued operations are summarized as
      follows:                                                                                                                                                                                              

| |                                       |   |              |   |   |            |   |   | Period from  |  
| | ------------------------------------- | - | ------------ | - | - | ---------- | - | - | ------------ | -
| |                                       |   | For the      |   |   | For the    |   |   | February 27, |  
| |                                       |   | Three months |   |   | Six Months |   |   | 2007         |  
| |                                       |   | Ended        |   |   | Ended      |   |   | (Inception)  |  
| |                                       |   | June 30,     |   |   | June 30,   |   |   | To June 30,  |  
| |                                       |   | 2008         |   |   | 2008       |   |   | 2009         |  
| |                                       |   |              |   |   |            |   |   |              |  
| | Expenses                              |   |              |   |   |            |   |   |              |  
| |                                       |   |              |   |   |            |   |   |              |  
| | General and administrative            | $ | 2,163        |   | $ | 5,736      |   | $ | 20,041       |  
| | Mineral property costs                |   |             |   |   |            |   |   | 16,000       |  
| | Professional fees                     |   | 14,724       |   |   | 23,258     |   |   | 51,269       |  
| |                                       |   |              |   |   |            |   |   |              |  
| | Net Loss from Discontinued Operations | $ | (16,887      | ) | $ | (28,994    | ) | $ | (87,310      | )

F-6

---

**ITEM
2.**         
**MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.**

This section of the report includes a number of forward-looking
statements that reflect our current views with respect to future events and
financial performance. Forward-looking statements are often identified by words
like: believe, expect, estimate, anticipate, intend, project and similar
expressions, or words which, by their nature, refer to future events. You should
not place undue certainty on these forward-looking statements, which apply only
as of the date of this report. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from historical results or our predictions.

We are a start-up, development stage corporation and have not
yet generated or realized any revenues from our business activities.

These financials have been prepared on a going concern basis.
This means that there is substantial doubt that we can continue as an on-going
business for the next twelve months unless we generate revenues. We currently do
not have sufficient capital to maintain operations for the next twelve months.

Liquidity and Capital Resources

The accompanying financial statements have been prepared on a
going concern basis, which implies the Company will continue to realize its
assets and discharge its liabilities in the normal course of business. We have
not generated any revenues and we do not anticipate to generate revenues until
we begin selling, marketing and implementing our technology. Accordingly, we
must raise cash from sources other than the sale of equipment or by developing
strategic alliances with other oil and gas producers. Our only other source for
cash at this time is investment in our private placement. The cash we raise will
allow us to stay in business for at least one year. Our success or failure will
be determined by creating alliances with oil and gas producers who need our
technology.

We issued 57,500,000 shares of common stock through a private
placement pursuant to Regulation S of the Securities Act of 1933 to Patricia
Traczykowski, one of our two officers and directors at that time, in
consideration of $5,000. Ms. Traczykowski was a non-US person and the
transaction took place outside the United States of America. This was accounted
for as a purchase of shares of common stock.

In December 28, 2007, we completed a private placement of
41,400,000 restricted shares of common stock pursuant to Reg. S of the
Securities Act of 1933 and raised $36,000. All of the shares were sold to non-US
persons and all transactions closed outside the United States of America. This
was accounted for as a purchase of shares of common stock.

Results of Operations

As of June 30, 2009, our total assets were $2,187 and our total
liabilities were $98,902. Total assets decreased from December 31, 2008 by
$7,604 and total liabilities increased from by $47,326. This is mainly due to
the independent patent valuation. Because the Companys stock is not actively
traded, the patents were valued using a discounted future cash flow model, which
was based on managements projections of future cash flows generated from the
sale, license or other arrangement involving these patents.

We have no revenues in the periods ended June 30, 2009 and
2008. In the six month periods ended June, 2009 and 2008, we incurred net losses
of $39,930 and $28,994. From February 27, 2007 (inception date) to June 30, 2009
we incurred a net loss of $133,215. Overall, operating expenses increased due to
an increase in professional fees related to legal and accounting fees. These
expenses were offset by a decrease in mineral property costs due to the
Companys decision to temporarily discontinue pursuing mineral properties
research and development.

Limited Capital

We intend to use our limited cash to pay for our minimal
operations and legal, accounting and professional services required to prepare
and file our reports with the SEC. Our remaining cash, however, will only be
sufficient to sustain us for the short-term. If we are unable to locate
additional financing within the short-term, we will be forced to suspend all
public reporting with the SEC and possibly liquidate. Furthermore, our ability
to execute on these business objectives may be subject to material doubt as our
management team will likely be limited to one part-time individual who will have
minimal cash resources to support operations for more than the short-term.

Business

Our
business is to use, sell and produce our patent and patent pending technologies,
providing an environmentally safe and cost-effective method that maximizes oil
production from existing oil wells. Marketing this technology strategically
allows us to benefit from worldwide demand for oil, resulting in significant
growth in both revenues and profits for the company. Our goal is to provide
solutions to help minimize U.S. dependence on foreign oil; thus providing
innovative solutions to the world that will recover dormant lying crude oil in
reserves all around the world.

Our
patented technology is characterized as a portable steam generator unit or
apparatus. The unit is equipped with a drumless boiler, water softener system,
diesel powered electric generator, high pressure pump, low emission 5-25 million
BTU per hour burner, computerized control panel and hot water generator system.
The unit is capable of delivering hot water and steam at temperatures of up to
500o F to well depths of 2,500 feet or less. The system is powered by variable
fuels to heat water pumped from a groundwater aquifer. The complete system has
the ability to deliver variable water temperature, pressure and volume to meet a
wide variety of recovery applications.

---

The American Society of Mechanical Engineers (ASME) has
certified that the innovative boiler design is built in full conformity with
their current standards relating to the production of steam boilers and/or
generators.

This
technology is designed to stimulate marginally producing stripper oil wells to
profitable production levels and to maintain them producing profitably. This
complete process is designed to reduce the viscosity of the oil in the reservoir
with heat, in the form of steam. This methodology allows the reservoir oil to
flow more readily to the surface, which will enhance the oil production process.

Trends

Crude oil development and production in U.S. oil reservoirs can
include up to three distinct phases: primary, secondary, and tertiary (or
enhanced) recovery. During primary recovery, the natural pressure of the
reservoir or gravity drive oil into the wellbore combined with artificial lift
techniques (such as pumps) which bring the oil to the surface. But only about 10
percent of a reservoir's original oil in place is typically produced during
primary recovery. Secondary recovery techniques are employed to extend the
field's productive life, generally by injecting water or gas to displace oil and
drive it to a production wellbore, resulting in the recovery of 20 to 40 percent
of the original oil in place.

However, with much of the easy-to-produce oil already recovered
from U.S. oil fields, producers have attempted several tertiary, or enhanced oil
recovery (EOR), techniques that offer prospects for ultimately producing 30 to
60 percent, or more, of the reservoir's original oil in place.

Three major categories of EOR have been found to be
commercially successful to varying degrees:

|1. | Thermal recovery, which involves the introduction of heat
      such as the injection of steam to lower the viscosity, or thin, the heavy
      viscous oil, and improve its ability to flow through the reservoir.
      Thermal techniques account for over 50 percent of U.S. EOR production,
      primarily in California.                                                               
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                               
|2. | Gas injection, which uses gases such as natural gas,
      nitrogen, or carbon dioxide that expand in a reservoir to push additional
      oil to a production wellbore, or other gases that dissolve in the oil to
      lower its viscosity and improves its flow rate. Gas injection accounts for
      nearly 50 percent of EOR production in the United States.                          
|   |                                                                                                                                                                                                                                                                                                                                                                                               
|3. | Chemical injection, which can involve the use of
      long-chained molecules called polymers to increase the effectiveness of
      waterfloods, or the use of detergent-like surfactants to help lower the
      surface tension that often prevents oil droplets from moving through a
      reservoir. Chemical techniques account for less than one percent of U.S.
      EOR production.

Each of these techniques has been hampered by its relatively
high cost and, in some cases, by the unpredictability of its effectiveness.
Crude oil prices above $28.00 per barrel can sustain the implementation and
utilization of these recovery methodologies. According to the EIA (Energy
Information Administration) April 14, 2009; they project that crude oil prices
will average $42.00 per barrel in 2009 and $53.00 per barrel for 2010.
Therefore, the trend for enhanced recovery is optimistic in the short term.

Off-Balance Sheet Arrangements

We have
no off-balance sheet arrangements.

**ITEM
3.**         
**QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**

We are a smaller reporting company as defined by Rule 12b-2 of
the Securities Exchange Act of 1934 and are not required to provide the
information under this item.

**ITEM
4.**         
**CONTROLS AND PROCEDURES.**

Under the supervision and with the participation of our
management, including the Principal Executive Officer and Principal Financial
Officer, we have evaluated the effectiveness of our disclosure controls and
procedures as required by Exchange Act Rule 13a-15(b) as of the end of the
period covered by this report. Based on that evaluation, the Principal Executive
Officer and Principal Financial Officer have concluded that these disclosure
controls and procedures are not effective.

There were no changes in our internal control over financial
reporting during the quarter ended June 30, 2009 that have materially affected,
or are reasonably likely to materially affect, our internal control over
financial reporting.

---

PART II. OTHER INFORMATION

ITEM 1A.        
RISK FACTORS

We are a
smaller reporting company as defined by Rule 12b-2 of the Securities Exchange
Act of 1934 and are not required to provide the information under this item.

**ITEM
5.**         
**OTHER EVENTS**

At
September 10, 2008, the Company effected a 11.5:1 forward stock split of the
authorized, and outstanding common stock. As a result, the authorized shares of
common stock increased from 100,000,000 shares of common stock with a par value
of $0.00001 per share to 1,150,000,000 shares of common stock with a par value
of $0.00001 per share. The issued and outstanding shares of common stock
increased from 8,600,000 shares to 98,900,000 shares. The information contained
in this report reflects the stock split.

On
November 25, 2008, the Company entered into an Asset Purchase Agreement (the
Agreement) with AM Oil Resources & Technology Inc., (the Vendor) to
acquire two patents for technologies that maximize oil production from existing
oil wells. The closing date of the Agreement was December 22, 2008.

In consideration for the acquisition of the patents, the
Company shall:

| | ii)  | issue 30,000,000 restricted common stock to the
      Vendor;                                                                 
| | ---- | ------------------------------------------------------------------------------------------------------------------------------
| |      |                                                                                                                               
| | iii) | pay $500,000 to the Vendor within 60 days of signing the
      Agreement and $500,000 in 3 equal instalments over three years;
| |      |                                                                                                                               
| | iv)  | pay a 5% royalty to the Vendor from the sale of every
      unit sold domestically and internationally.                       

On February 18, 2009, the Company reduced the authorized shares
of common stock from 1,150,000,000 shares of common stock with a par value of
$0.00001 per share to 150,000,000 shares of common stock with a par value of
$0.00001 per share. The authorized shares of preferred stock will remain
unchanged.

On February 22, 2009, 57,500,000 shares of common stock were
cancelled and returned to treasury by the President of the Company.

On March 11, 2009, the Company amended the Agreement to reduce
the cash payment to the Vendor to $500,000 payable in 25 monthly payments of
$20,000 beginning April 30, 2009, and ending on April 30, 2011. Each monthly
payment is provided a 30 day grace period, though the total $500,000 must be
paid prior to April 30, 2011.

On July
20, 2009, Patricia Traczykowski was appointed to our board of directors and was
appointed our president, principal executive officer, treasurer, principal
financial officer and principal accounting officer.

On July
20, 2009 Keith Johnson resigned as our president, principal executive officer,
treasurer, principal financial officer, and principal accounting officer and as
a member of the board of directors. Further, on the same date, Greg Brown
resigned as a member of our board of directors.

From
February 27, 2007 to November 25, 2008, Ms. Traczykowski was our president,
principal executive officer, treasurer, principal financial officer and
principal accounting officer and a member of the board of directors.

Since
June 4, 2007, Ms. Traczykowski has been the sole officer and director of our
wholly owned subsidiary corporation, Aventerra Explorations Ltd., a corporation
organized under the laws of England. Since March 2007, Ms. Traczykowski has
operated her own consultancy company called Community Regeneration Consultancy,
which is focused on delivering economic development and regeneration projects in
London, England. Clients include London New Deal for Communities (NDC), Cheswold
Park Hospital, London Chamber of Commerce and London Primary Care Trust (NHS).
From June 2004 to February 2007, Ms. Traczykowski worked as the Project Manager
for the London Chamber of Commerce where she was responsible in assisting
certain disadvantaged communities raise their standards of living by
implementing sustainable economic programs. Prior to this position, Ms.
Traczykowski was a Personal Advisor to Reed in Partnership, which is a
government funded employment and enterprise project in London, England. From
November 2003 to June 2004 her role at Reed in Partnership was to assist parents
who are dependent on Social Income, and aid them back into sustainable
employment. Before this, Ms. Traczykowski worked as a Training Consultant with
Norwich Union, in London, England. From January 2002 to November 2003, she
worked at a Senior Staff level in charge of staff training and managing the
Business Learning Center.

Also on
July 20, 2009 the board of directors resolved that on May 22, 2009 Mr. Anthony
Millers appointment is -void as a matter of law since a quorum of the board was not present in
order to conduct business. As the Secretary and the President at that time did
not comply with Article II, Section 7 of our bylaws. Article II, Section 7 of
the bylaws requires a majority of the board to be present in order to constitute
a quorum of the board of directors. A majority of the board of directors were
not present.

---

**ITEM
6.**          **EXHIBITS.**

The
following documents are included herein:

|Exhibit |                                                                                                                                                        
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------
|No.     | Document Description                                                                                                                                   
|        |                                                                                                                                                        
|31.1    | Certification
        of Principal Executive Officer and Principal Financial Officer pursuant
        to Section 302 of the Sarbanes-Oxley Act of 2002.
|        |                                                                                                                                                        
|32.1    | Certification
        of Chief Executive Officer and Chief Financial Officer pursuant to section
        906 of the Sarbanes-Oxley Act of 2002.        

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following person on behalf of the
Registrant and in the capacities on the 9th day of April, 2010.

| | **AM OIL RESOURCES & TECHNOLOGY INC.**
| | --------------------------------------
| |                                       
| |                                       
| | BY:                                   
| |                                       
| |                                       

---

EXHIBIT INDEX



|Exhibit |                                                                                                                                                        
|------- | -------------------------------------------------------------------------------------------------------------------------------------------------------
|No.     | Document Description                                                                                                                                   
|        |                                                                                                                                                        
|31.1    | Certification
        of Principal Executive Officer and Principal Financial Officer pursuant
        to Section 302 of the Sarbanes-Oxley Act of 2002.
|        |                                                                                                                                                        
|32.1    | Certification
        of Chief Executive Officer and Chief Financial Officer pursuant to section
        906 of the Sarbanes-Oxley Act of 2002.        



---