| Nevada                                                        |   | None                                 |
|---------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation ororganization) |   | (I.R.S. Employer Identification No.) |

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| PART I - FINANCIAL INFORMATION                                                                           | 2      |
|----------------------------------------------------------------------------------------------------------|--------|
| Item 1. Financial Statements                                                                             | 2      |
| Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations | 10     |
| Item 3. Quantitative and Qualitative Disclosures About Market Risk                                  | 12     |
| PART II – OTHER INFORMATION                                                                        | 13     |
| Item 1. Legal Proceedings                                                                                | 13     |
| Item 1A.  Risk Factors                                                                         |   |
| Item 2. Unregistered Sales of Equity Securities and Use of Proceeds                                      | 13     |
| Item 3. Defaults Upon Senior Securities                                                                  | 13     |
| Item 4. Removed and Reserved                                                                             | 13     |
| Item 5. Other Information                                                                                | 13     |
| Item 6. Exhibits                                                                                         | 13     |

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| Condensed Balance Sheets                              | 3 |
|-------------------------------------------------------|---|
| Condensed Statements of Operations                    | 4 |
| Condensed Statements of Cash Flows                    | 5 |
| Condensed Statements of Shareholders' Deficiency | 6 |
| Notes to the Condensed Financial Statements           | 7 |

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|                                                                                                                                           |   | July 31,2011(Unaudited) |          |   | October 31,2010(Audited) |   |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|---------------|--------|--------------------------|--------|
| LIABILITIES                                                                                                                                    |   |                    |          |   |                     |   |
| Current                                                                                                                                        |   |                    |          |   |                     |   |
| Accounts payable and accrued liabilities                                                                                                       |   | $                       | 28,655        |   |                     | $      | 68,956 |   |
| Due to related parties                                                                                                                         |   |                    | 0             |   |                     |   | 102,500 |   |
| Total Liabilities                                                                                                                              |   |                    | 28,655        |   |                     |   | 171,456 |   |
|                                                                                                                                           |   |                    |          |   |                     |   |   |   |
| SHAREHOLDERS' DEFICIENCY                                                                                                                       |   |                    |          |   |                     |   |   |   |
| Common stock - 100,000,000 shares authorized, $0.0001 par value, 5,456,400 shares issued and outstanding at July 31, 2011 and October 31, 2010 |   |                    | 546           |   |                     |   | 546 |   |
| Additional paid-in capital                                                                                                                     |   |                    | 738,787       |   |                     |   | 622,177 |   |
| Deficit                                                                                                                                        |   |                    | (767,988      | )      |                     |   | (794,179 | ) |
| Total Shareholders’ Deficiency                                                                                                           |   |                    | ( 28,655 | )      |                     |   | (171,456 | ) |
|                                                                                                                                           |   |                    |          |   |                     |   |   |   |
| TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIENCY                                                                                           |   | $                       | 0             |   |                     | $      | 0 |   |

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|                                          |   | Period frominceptionon October31, 2006 toJuly 31, 2011 |     |   | For the threemonthsendedJuly 31, 2011 |   |      | For the threemonthsendedJuly 31, 2010 |   |   | For the ninemonthsendedJuly 31, 2011 |   |   | For the ninemonthsendedJuly 31, 2010 |      |
|-----------------------------------------------|--------|--------------------------------------------------------------------------------------|----------|--------|-----------------------------------------------------------|--------|-----------|-----------------------------------------------------------|--------|--------|----------------------------------------------------------|--------|--------|----------------------------------------------------------|-----------|
|                                          |   |                                                                                 |     |   |                                                      |   |      |                                                      |   |   |                                                     |   |   |                                                     |      |
| Expenses                                      |   |                                                                                 |     |   |                                                      |   |      |                                                      |   |   |                                                     |   |   |                                                     |      |
| General and administrative expenses           |   | $                                                                                    | 4,040    |   |                                                      | $      | 0         |                                                      |   | $      | 0                                                        |   |   | $                                                        | 0         |   |   | $ | 319 |   |
| Management fees                               |   |                                                                                 | 13,500   |   |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Rent                                          |   |                                                                                 | 13,500   |   |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Stock-based compensation                      |   |                                                                                 | 449,550  |   |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Professional fees                             |   |                                                                                 | 309,517  |   |                                                      |   | 0         |                                                      |   |   | 30,170                                                   |   |   |                                                     | 9,877     |   |   |   | 72,786 |   |
| Bank charges and interest                     |   |                                                                                 | 647      |   |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Foreign exchange loss                         |   |                                                                                 | 4,302    |   |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Total Expenses                                |   |                                                                                 | 795,056  |   |                                                      |   | 0         |                                                      |   |   | 30,170                                                   |   |   |                                                     | 9,877     |   |   |   | 73,105 |   |
| Operating loss                           |   |                                                                                 | (795,056 | )      |                                                      |   | 0         |                                                      |   |   | (30,170                                                  | )      |   |                                                     | (9,877    | ) |   |   | (73,105 | ) |
| Write-off of exploration advances             |   |                                                                                 | (20,000  | )      |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Gain on settlement of debt                    |   |                                                                                 | 72,068   |   |                                                      |   | 0         |                                                      |   |   |                                                     |   |   |                                                     | 36,068    |   |   |   | 0 |   |
| Write-off of exploration costs                |   |                                                                                 | (25,000  | )      |                                                      |   | 0         |                                                      |   |   | 0                                                        |   |   |                                                     | 0         |   |   |   | 0 |   |
| Net Income (loss) for the period              |   |                                                                                 | (767,988 | )      |                                                      |   | 0         |                                                      |   |   | (30,170                                                  | )      |   |                                                     | 26,191    |   |   |   | (73,105 | ) |
| Deficit, beginning of the period              |   |                                                                                 | 0        |   |                                                      |   | (767,988  | )                                                         |   |   | (768,497                                                 | )      |   |                                                     | (794,179  | ) |   |   | (725,562 | ) |
| Deficit, end of the period                    |   | $                                                                                    | (767,988 | )      |                                                      | $      | (767,988  | )                                                         |   | $      | (798,667                                                 | )      |   | $                                                        | (767,988  | ) |   | $ | (798,667 | ) |
| Earnings (loss) per share                     |   |                                                                                 |     |   |                                                      |   |      |                                                      |   |   |                                                     |   |   |                                                     |      |   |   |   |   |   |
| Basic                                         |   |                                                                                 |     |   |                                                      | $      | (0.000    | )                                                    |   | $      | (0.005                                                   | )      |   | $                                                        | (0.005    | )  |   | $  | (0.01 | )  |
| Weighted average number of shares outstanding |   |                                                                                 |     |   |                                                      |   | 5,456,000 |                                                      |   |   | 5,456,000                                                |   |   |                                                     | 5,456,000 |   |   |   | 5,456,000 |   |

----

|                                                      |   | Period frominception onOctober 31,2006 toJuly 31,2011(Unaudited) |     |   | For the ninemonths endedJuly 31,2011(Unaudited) |   |    | For the ninemonths endedJuly 31,2010(Unaudited) |   |
|-----------------------------------------------------------|--------|-------------------------------------------------------------------------------------------|----------|--------|---------------------------------------------------------------------|--------|---------|---------------------------------------------------------------------|--------|
|                                                      |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |
| Cash flow from operating activities                       |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |
| Net income (loss) for the period                          |   | $                                                                                         | (767,988 | )      |                                                                | $      | 26,191  |                                                                |   | $ | (73,105 | ) |
| Add back non-cash operating activities:                   |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Gain on settlement of debt                                |   |                                                                                      | (72,068  | )      |                                                                |   | (36,068 | )                                                                   |   |   | 0 |   |
| Donated rent                                              |   |                                                                                      | 13,500   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Donated services                                          |   |                                                                                      | 13,500   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Write-off of exploration advances                         |   |                                                                                      | 20,000   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Consulting fees                                           |   |                                                                                      | 25,930   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Stock-based compensation                                  |   |                                                                                      | 449,550  |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Write-off of exploration costs                            |   |                                                                                      | 25,000   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Changes in non-cash working capital                       |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Exploration advances                                      |   |                                                                                      | (20,000  | )      |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Accounts payable and accrued liabilities                  |   |                                                                                      | 114,833  |   |                                                                |   | 9,877   |                                                                |   |   | 12,911 |   |
| Net cash used in operating activities                     |   |                                                                                      | (140,671 | )      |                                                                |   | 0       |                                                                |   |   | (60,194 | ) |
|                                                      |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Cash flow from investing activities                       |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Acquisition of oil and gas properties                     |   |                                                                                      | (50,930  | )      |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Net cash used in investing activities                     |   |                                                                                      | (50,930  | )      |                                                                |   | 0       |                                                                |   |   | 0 |   |
|                                                      |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Cash flow from financing activities                       |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Advances from related parties                             |   |                                                                                      | 91,511   |   |                                                                |   | 0       |                                                                |   |   | 59,875 |   |
| Capital stock subscribed                                  |   |                                                                                      | 71,660   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Proceeds from the issuance of capital stock               |   |                                                                                      | 42,780   |   |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Repurchase of capital stock                               |   |                                                                                      | (14,350  | )      |                                                                |   | 0       |                                                                |   |   | 0 |   |
| Net cash provided by financing activities                 |   |                                                                                      | 191,601  |   |                                                                |   | 0       |                                                                |   |   | 59,875 |   |
|                                                      |   |                                                                                      |     |   |                                                                |   |    |                                                                |   |   |   |   |
| Net change in cash and cash equivalents during the period |   |                                                                                      | 0        |   |                                                                |   | 0       |                                                                |   |   | (319 | ) |
| Cash and cash equivalents, beginning of period            |   |                                                                                      | 0        |   |                                                                |   | 0       |                                                                |   |   | 319 |   |
| Cash and cash equivalents, end of period                  |   | $                                                                                         | 0        |   |                                                                | $      | 0       |                                                                |   | $ | 0 |   |

----

|                              |   | Common stock |      |   | AdditionalPaid |   |   | Common stock |   |   | Deficitaccumulated during the |   |   | Total shareholders’ |   |
|-----------------------------------|--------|-------------------|-----------|--------|----------------|--------|--------|--------------|--------|--------|------------------------------------|--------|--------|--------------------------------|--------|
|                              |   | Number of Shares  |      |   | Amount         |   |   | in Capital   |   |   | subscribed                         |   |   | exploration stage              |   |   | (deficiency) |   |
|                              |   |              |      |   |           |   |   |         |   |   |                               |   |   |                           |   |   |   |   |
| Balance, October 31, 2009         |   |              | 5,456,400 |   |           | $      | 546    |         |   | $      | 622,177                            |   |   | $                              | 0      |   |   | $ | (725,562 | ) |   | $ | (102,839 | ) |
|                              |   |              |      |   |           |   |   |         |   |   |                               |   |   |                           |   |   |   |   |   |   |   |   |   |   |
| Net loss                          |   |              |      |   |           |   |   |         |   |   |                               |   |   |                           |   |   |   |   | (68,617 | ) |   |   | (68,617 | ) |
| Balance October 31, 2010          |   |              | 5,456,400 |   |           |   | 546    |         |   |   | 622,177                            |   |   |                           | 0      |   |   |   | (794,179 | ) |   |   | (171,456 | ) |
| Forgiveness of related party debt |   |              |      |   |           |   |   |         |   |   | 116,610                            |   |   |                           |   |   |   |   |   |   |   |   | 116,610 |   |
|                              |   |              |      |   |           |   |   |         |   |   |                               |   |   |                           |   |   |   |   |   |   |   |   |   |   |
| Net income                        |   |              |      |   |           |   |   |         |   |   |                               |   |   |                           |   |   |   |   | 26,191 |   |   |   | 26,191 |   |
| Balance, July 31, 2011            |   |              | 5,456,400 |   |           | $      | 546    |         |   | $      | 738,787                            |   |   | $                              | 0      |   |   | $ | (767,988 | ) |   | $ | 28,655 |   |

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| Exhibit Number |   | Exhibit Description                                                                                                                                                                                                                  |
|---------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                |   |                                                                                                                                                                                                                                      |
| 3.1                 |   | Certificate of Amendment to Articles of Incorporation of April 4, 2011, is hereby incorporated herein by reference to Exhibit 3.1 to the Form 8-K current report of the Company dated April 4, 2011.                                      |
|                |   |                                                                                                                                                                                                                                      |
| 31.1                |   | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or Rule 15d-14(a) promulgated under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                    |
|                |   |                                                                                                                                                                                                                                      |
| 32.1                |   | Certification of Chief Executive Officer pursuant to Rule 13a-14(b) or Rule 15d-14(b) promulgated under the Securities Exchange Act of 1934 and 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

|                     | Richland Resources Corp.                                                                       |
|--------------------------|------------------------------------------------------------------------------------------------|
|                     | (Registrant)                                                                                   |
|                     |                                                                                           |
| Date: September 21, 2011 | /s/ Kenneth A. Goggans                                                                         |
|                     | Kenneth A. Goggans                                                                             |
|                     | Chief Executive Officer, President, Treasurer, Chief Financial Officer, Secretary and Director |

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