**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


Washington,
      D.C. 20549





**FORM
      10-QSB**





x
            Quarterly
                Report under Section 13 or 15(d) of the Securities Exchange Act of
                1934




For
      the
      quarterly period ended July 31, 2006





o
            Transition
                report under Section 13 or 15(d) of the Exchange
                Act




For
      the
      transition period from __________ to __________




Commission
      File Number: 000-51427





**BLACKSANDS
      PETROLEUM, INC.**





(Exact
      name of Registrant as specified in its charter)





Nevada
            
            20-1740044(State
                or other jurisdiction
            
            (I.R.S.
                Employerof
                incorporation or organization
            
            Identification
                No.)





SUITE
                328, 369 ROCKY VISTA PARK DRIVECALGARY,
                ALBERTA T3G 5K7CANADA
            
            Telephone:
                (403) 870-2220(Address
                of principal executive offices)
            
            (Registrant's
                telephone number, including area
                code)





Former
      Name, Address and Fiscal Year, If Changed Since Last Report





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 past 90 days. Yes x  No o





We
      had a
      total of 74,854,700 shares of common stock issued and outstanding at September
      14, 2006.





Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act). Yes x  No o





Transitional
      Small Business Disclosure Format: Yes o  No x








**PART
      I - FINANCIAL INFORMATION**




**Item
      1. Financial Statements.**





The
      interim financial statements included herein are unaudited but reflect, in
      management's opinion, all adjustments, consisting only of normal recurring
      adjustments, that are necessary for a fair presentation of our financial
      position and the results of our operations for the interim periods presented.
      Because of the nature of our business, the results of operations for the
      quarterly period ended July 31, 2006 are not necessarily indicative of the
      results that may be expected for the full fiscal year.





On
      June
      9, 2006, we filed a Certificate of Amendment to our Articles of Incorporation
      with the Secretary of State of Nevada to increase our authorized share capital
      (the “Share Increase”) from 75,000,000 shares of common stock, par value $0.001,
      to 310,000,000 shares, comprised of 300,000,000 shares of common stock and
      10,000,000 share of preferred stock, par value $0.001. In addition, on May
      6,
      2006, our Board of Directors declared a 30 for 1 forward stock split (the “Stock
      Split”) in the form of a dividend. The record and payment date for the stock
      dividend was June 21, 2006. Appropriate revisions have been made to the interim
      financial statements for the comparable period of the prior fiscal year to
      reflect the Share Increase and the Stock Split.


1


**Blacksands
                Petroleum, Inc.****(Formerly
                known as Lam Liang Corp.)****(A
                Development Stage Enterprise)****Balance
                Sheets**





**Unaudited**
                **As
                  of**
                **July
                  31, 2006**
              
              **Audited**
                **As
                  of**
                **October
                  31, 2005****A
                  S S E T S**Current
                  AssetsCash
                  held in attorney’s trust account
              
              $
              828,085
              
              $
              41,048Total
                  Current Assets
              
              
              828,085
              
              
              41,048Fixed
                  AssetsFurniture,
                  net of depreciation
              
              
              -
              
              
              779Office
                  Equipment, net of depreciation
              
              
              -
              
              
              757Total
                  Fixed Assets
              
              
              -
              
              
              1,536Other
                  AssetsRent
                  Deposit
              
              
              10,026
              
              
              859Total
                  Other Assets
              
              
              10,026
              
              
              859Total
                  Assets
              
              $
              838,111
              
              $
              43,443**L
                  I A B I L I T I E S**Current
                  LiabilitiesAccounts
                  payable and accrued liabilities
              
              $
              15,308
              
              $
              -Accounts
                  payable to related party
              
              
              1,853
              
              
              -Payroll
                  Witholding Taxes Payable
              
              
              -
              
              
              15Total
                  Current Liabilities
              
              
              17,161
              
              
              15Convertible
                  Debentures
              
              
              1,000,000
              
              
              -Total
                  Liabilities
              
              $
              1,017,161
              
              $
              15**S
                  T O C K H O L D E R S ' E Q U I T Y (
                  DEFICIT)**Common
                  Stock (note 3)
              
              $
              6,300
              
              $
              2,100Additional
                  Paid-in-Capital
              
              
              53,700
              
              
              57,900Accumulated
                  Comprehensive Loss
              
              
              (969
              )
              
              (2,792
              )Deficit
                  accumulated during the development stage
              
              
              (238,081
              )
              
              (13,780
              )Total
                  Stockholders' Equity (Deficit)
              
              
              (179,050
              )
              
              43,428Total
                  Liabilities and Stockholders' Equity (Deficit)
              
              $
              838,111
              
              $
              43,443





See
      accompanying notes to Financial Statements.


2





**Blacksands
                Petroleum, Inc.****(Formerly
                known as Lam Liang Corp.)****(A
                Development Stage Enterprise)****Statements
                of Operations**


**Unaudited**
                **For
                  the Nine Months**
                **Ended**
                **July
                    31, 2006**
              
              **Unaudited**
                **For
                  the Nine Months**
                **Ended**
                **July
                  31, 2005**
              
              **Unaudited**
                **For
                  the Three**
                **Months
                  Ended**
                **July
                  31, 2006**
              
              **Unaudited**
                **For
                  the Three**
                **Months
                  Ended**
                **July
                  31, 2005**
              
              **Unaudited**
                **From
                  Inception**
                **(October
                  12, 2004)**
                **through**
                **July
                  31, 2006****Revenues:**Revenue
              
              $
              --
              
              $
              --
              
              $
              --
              
              $
              --
              
              $
              --Total
                  Revenues
              
              
              --
              
              
              --
              
              
              --
              
              
              --
              
              
              --**Expenses:**Professional
                  Fees
              
              
              156,229
              
              
              --
              
              
              155,604
              
              
              -
              
              
              161,427Loss
                  on abandoned fixed assets
              
              
              1,494
              
              
              -
              
              
              1,494
              
              
              -
              
              
              1,494Employee
                  remuneration
              
              
              15,622
              
              
              -
              
              
              15,622
              
              
              -
              
              
              15,622Website
                  & contract services
              
              
              8,144
              
              
              
              
              
              8,144
              
              
              -
              
              
              8,144Office
                  and Administration
              
              
              42,770
              
              
              8,844
              
              
              38,659
              
              
              2,912
              
              
              50,969Total
                  Expenses
              
              
              224,259
              
              
              8,844
              
              
              219,523
              
              
              2,912
              
              
              237,656Net
                  loss from Operations
              
              
              (224,259
              )
              
              (8,844
              )
              
              (219,523
              )
              
              (2,912
              )
              
              (237,656
              )**Other
                  Income and Expenses:**Interest
                  Income
              
              
              --
              
              
              16
              
              
              --
              
              
              16
              
              
              17Depreciation
              
              
              (42
              )
              
              (91
              )
              
              -
              
              
              (91
              )
              
              (442
              )Gain
                  (Loss) from Currency Transaction
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              -Net
                  Loss before Taxes
              
              
              (224,301
              )
              
              (8,919
              )
              
              (219,523
              )
              
              (2,987
              )
              
              (238,081
              )**Provision
                  for Income Taxes:**Income
                  Tax BenefitNet
                  Loss
              
              $
              (224,301
              )
              $
              (8,919
              )
              $
              (219,523
              )
              $
              (2,987
              )
              $
              (238,081
              )Other
                  Comprehensive Income (Loss)
              
              $
              1,823
              
              $
              (3,825
              )
              $
              --
              
              $
              (2,644
              )
              $
              (969
              )Total
                  Comprehensive Loss
              
              $
              (222,478
              )
              $
              (12,744
              )
              $
              (219,523
              )
              $
              (5,631
              )
              $
              (239,050
              )Basic
                  and Diluted Loss Per Common Share
              
              $
              (0.00
              )
              $
              (0.00
              )
              $
              (0.00
              )
              $
              (0.00
              )
              $
              (0.00
              )Weighted
                  Average number of Common Shares used in per share
                  calculations
              
              
              63,000,000
              
              
              48,010,980
              
              
              63,000,000
              
              
              63,000,000
              
              
              61,846,259





See
      accompanying notes to Financial Statements.


3





**Blacksands
                Petroleum, Inc.****(Formerly
                known as Lam Liang Corp.)****(A
                Development Stage Enterprise)****Statement
                of Changes in Stockholders’
Equity**


**Shares**
              
              **Par
                  Value $0.001**
              
              **Paid-In
                  Capital**
              
              **Other
                  Comprehensive Income**
              
              **Accumulated
                  Deficit During Development Stage**
              
              **Shareholder’s
                  Equity (Deficit)**Balance
                  - October 12, 2004
              
              
              -
              
              $
              -
              
              $
              -
              
              $
              -
              
              $
              -
              
              $
              -Stock
                  issued for cash -October
                  12, 2004
              
              
              1,000,000
              
              
              1,000
              
              
              4,000
              
              
              -
              
              
              -
              
              
              5,000Foreign
                  Currency Translation Adjustment
              
              
              -
              
              
              -
              
              
              -
              
              
              (5
              )
              
              -
              
              
              (5
              )Net
                  Income (Loss)
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              -Balance
                  - October 31, 2004
              
              
              1,000,000
              
              $
              1,000
              
              $
              4,000
              
              $
              (5
              )
              
              -
              
              $
              4,995Stock
                  issued for cash -March
                  4, 2005
              
              
              1,100,000
              
              
              1,100
              
              
              53,900
              
              
              -
              
              
              -
              
              
              55,000Foreign
                  Currency Translation Adjustment
              
              
              -
              
              
              -
              
              
              -
              
              
              (2,787
              )
              
              -
              
              
              (2,787
              )Net
                  Income (Loss)
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              (13,780
              )
              
              (13,780
              )Balance
                  - October 31, 2005
              
              
              2,100,000
              
              $
              2,100
              
              $
              57,900
              
              $
              (2,792
              )
              $
              (13,780
              )
              $
              43,428Stock
                  Split 30:1-June
                  21, 2006
              
              
              60,900,000
              
              
              4,200
              
              
              (4,200
              )
              
              -
              
              
              -
              
              
              -Foreign
                  Currency Translation Adjustment
              
              
              -
              
              
              -
              
              
              -
              
              
              1,823
              
              
              -
              
              
              1,823Net
                  Income (Loss)
              
              
              -
              
              
              -
              
              
              -
              
              
              -
              
              
              (224,301
              )
              
              (224,301
              )Balance
                  - July 31, 2006
              
              
              63,000,000
              
              $
              6,300
              
              $
              53,700
              
              $
              (969
              )
              $
              (238,081
              )
              $
              (179,050
              )


See
      accompanying notes to Financial Statements.


4





**Blacksands
                Petroleum, Inc.****(Formerly
                known as Lam Liang Corp.)****(A
                Development Stage Enterprise)****Statements
                of Cash Flows**




**For
                  the Nine Months**
                **Ended**
                **July
                  31, 2006**
              
              **Unaudited**
                **From
                  Inception**
                **(October
                  12, 2004)**
                **through**
                **July
                  31, 2006**Cash
                  Flows from Operating Activities:Net
                  Loss
              
              $
              (224,301
              )
              $
              (238,081
              )Foreign
                  Currency Income (Loss)
              
              
              1,823
              
              
              (969
              )Loss
                  on abandoned fixed assets
              
              
              1,494
              
              
              1,494Office
                  Equipment and Furniture: Depreciation
              
              
              42
              
              
              416Adjustments
                  to reconcile net loss tonet
                  cash used by operating activites:Other
                  Comprehensive Income
              
              
              --
              
              
              --Changes
                  in Operating assets and liabilitiesRent
                  Deposit
              
              
              (9,167
              )
              
              (10,026
              )Accounts
                  payable and accrued liabilities
              
              
              15,308
              
              
              15,308Accounts
                  payable to related party
              
              
              1,853
              
              
              1,853Payroll
                  and Withholding Taxes Payable
              
              
              (15
              )
              
              --Net
                  Cash Used by Operating Activities
              
              
              (212,963
              )
              
              (230,005
              )Cash
                  Flows from Investing Activities:Office
                  Equipment and Furniture: Cost
              
              
              --
              
              
              (1,910
              )Net
                  Cash Used in Investing Activities
              
              
              --
              
              
              (1,910
              )Cash
                  Flows from Financing Activities:Issue
                  of convertible debentures
              
              
              1,000,000
              
              
              1,000,000Sales
                  of Common Stock
              
              
              --
              
              
              60,000Net
                  Cash Provided from Financing Activities
              
              
              1,000,000
              
              
              1,060,000Net
                  Increase (decrease) in Cash
              
              
              787,037
              
              
              828,085Cash
                  Balance, Begin Period
              
              
              41,048
              
              
              --Cash
                  Balance, End Period
              
              $
              828,085
              
              $
              828,085Supplemental
                  Disclosures:Cash
                  Paid for interest
              
              $
              --
              
              $
              --Cash
                  Paid for income taxes
              
              $
              --
              
              $
              --




See
      accompanying notes to Financial Statements.


5


BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)


(A
      DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS





1.
            DESCRIPTION
                OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT
                POLICIES





Description
      of business and history -
      Blacksands Petroleum, Inc., a Nevada corporation, (hereinafter referred to
      as
      the “Company”) was incorporated in the State of Nevada on October 12, 2004 as
      Lam Liang Corp. We were formed to design, produce and sell fashionable computer
      laptop cases for women through our subsidiary, Maha San Lam Liang Co. Ltd.,
      a
      Thai corporation, in Bangkok, Thailand. In November, 2004, the company acquired
      99.94% ownership in a privately-held company, registered under the laws of
      Thailand under the name of Maha San Lam Liang Co. Ltd. The company was formed
      and registered in Thailand on November 5, 2004 by Dr. Anchana Chayawatana,
      who
      was the sole officer and director of the company. The subsidiary was
      subsequently dissolved on June 5, 2006. The Company's operations have been
      limited to general administrative operations and development of its first
      product line and is considered a development stage company in accordance with
      Statement of Financial Accounting Standards No. 7. On May 6, 2006, three of
      our
      directors resigned and two new directors were appointed to our board of
      directors. As a result, on May 6, 2006, we exited our previous plan of
      operation. We do not currently have an operating business and are looking to
      capitalize on the experience and knowledge of our management in considering
      possible strategic transactions in the unconventional oil industry. To indicate
      our new direction into the unconventional oil industry, we filed a Certificate
      of Amendment to our Articles of Incorporation on June 9, 2006 to change our
      name
      from “Lam Liang Corp.” to “Blacksands Petroleum, Inc.”.





Management
      of Company - The
      Company filed its articles of incorporation with the Nevada Secretary of State
      on October 12, 2004, indicating Sandra L. Miller on behalf of Resident Agents
      of
      Nevada, Inc. as the sole incorporator.





The
      Company filed its annual list of officers and directors with the Nevada
      Secretary of State on September 29, 2005, indicating that its President is
      Anchana Chayawatana, its Secretary is Anongnat Chansangachom and its Treasurer
      is Prapaipan Chayawatana. On April 24, 2006, Dr. Chayawatana, Ms. Chansangachom
      and Ms. Chayawatana resigned from their positions as officers of the Company
      and
      Darren Stevenson became the President, Secretary and Chief Executive Officer
      of
      the Company. On May 6, 2006, Dr. Chayawatana, Ms. Chansangachom and Ms.
      Chayawatana resigned as the Company's directors and Darren Stevenson and Bruno
      Mosimann became the Company's directors.





Going
      concern - The
      Company incurred net losses of approximately $238,081, accumulated other
      comprehensive income (loss) of $969 from the period of October 12, 2004 (Date
      of
      Inception) through July 31, 2006, has not commenced its operations, and is
      still
      in the development stages, raising substantial doubt about the Company's ability
      to continue as a going concern.





On
      May 6,
      2006 the Company issued $1,000,000 of convertible debentures to two accredited
      investors. The debentures were converted to 1,000,000 units of the Company’s
      securities on August 9, 2006. Each unit consists of one share of common stock
      and one common stock purchase warrant. Each warrant entitles the holder to
      purchase one share of common stock for an exercise price of $3.00 per share,
      and
      is exercisable for a two year period commencing October 1, 2006.





On
      August
      9, 2006 the Company closed a private placement of units of its securities.
      10,854,700 units were issued for gross proceeds of $10,854,700. Each unit
      consists of one share of common stock and one common stock purchase warrant.
      Each warrant entitles the holder to purchase one share of common stock for
      an
      exercise price of $3.00 per share, and is exercisable for a two year period
      commencing October 1, 2006.  The
      Company intends to utilize the proceeds of the offering to identify and acquire
      suitable candidates in the unconventional petroleum industry. Following the
      closing of the offering, the funds will remain in escrow until a suitable
      acquisition candidate is identified and acquired. If the Company fails to
      complete a business acquisition within 12 months after the closing of the
      offering, subscription proceeds will be promptly returned to investors without
      interest or deduction.





The
      ability of the Company to continue as a going concern is dependent on additional
      sources of capital and the success of the Company's plan. The financial
      statements do not include any adjustments that might be necessary if the Company
      is unable to continue as a going concern.





Year
      end - The
      Company's year end is October 31.





Principles
      of consolidation - The
      consolidated financial statements include the accounts of the Company and its
      subsidiary (up to the date of dissolution of the subsidiary). All significant
      inter-company transactions and balances have been eliminated.





Use
      of
      estimates - The
      preparation of consolidated financial statements in conformity with generally
      accepted accounting principles requires management to make estimates and
      assumptions that affect the reported amounts of assets and liabilities and
      disclosure of contingent assets and liabilities at the date of the financial
      statements and the reported amounts of revenue and expenses during the reporting
      period. Actual results could differ from those estimates.




6


BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)(A DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS (CONTINUED)





1.
            DESCRIPTION
                OF BUSINESS AND SUMMARY OF SIGNIFICANT POLICIES(continued)





Property
      and equipment -
      Property and equipment are stated at cost less accumulated depreciation.
      Depreciation is provided principally on the straight-line method over the
      estimated useful lives of the assets, which are generally 3 to 27 years. The
      amounts of depreciation provided are sufficient to charge the cost of the
      related assets to operations over their estimated useful lives. Upon sale or
      other disposition of a depreciable property, cost and accumulated depreciation
      are removed from the accounts and any gain or loss is reflected in other
      income.





The
      Company periodically evaluates whether events and circumstances have occurred
      that may warrant revision of the estimated useful life of fixed assets or
      whether the remaining balance of fixed assets should be evaluated for possible
      impairment. The Company uses an estimate of the related undiscounted cash flows
      over the remaining life of the fixed assets in measuring their
      recoverability.





Income
      taxes - The
      Company accounts for its income taxes in accordance with Statement of Financial
      Accounting Standards No. 109, which requires recognition of deferred tax assets
      and liabilities for future tax consequences attributable to differences between
      the financial statement carrying amounts of existing assets and liabilities
      and
      their respective tax bases and tax credit carry forwards. Deferred tax assets
      and liabilities are measured using enacted tax rates expected to apply to
      taxable income in the years in which those temporary differences are expected
      to
      be recovered or settled. The effect on deferred tax assets and liabilities
      of a
      change in tax rates is recognized in operations in the period that includes
      the
      enactment date.





Management
      feels the Company will have a net operating loss carryover to be used for future
      years. Such losses may not be fully deductible due to the significant amounts
      of
      non-cash service costs. The Company has not established a valuation allowance
      for the full tax benefit of the operating loss carryovers due to the uncertainty
      regarding realization.





Net
      loss per common share - The
      Company computes net loss per share in accordance with SFAS No. 128, Earnings
      per Share (SFAS 128) and SEC Staff Accounting Bulletin No. 98 (SAB 98). Under
      the provisions of SFAS 128 and SAB 98, basic net loss per share is computed
      by
      dividing the net loss available to common stockholders for the period by the
      weighted average number of shares of common stock outstanding during the period.
      The calculation of diluted net loss per share gives effect to common stock
      equivalents; however, potential common shares are excluded if their effect
      is
      antidilutive. For the period from October 12, 2004 (Date of Inception) through
      July 31, 2006, options and warrants were excluded from the computation of
      diluted earnings per share because their effect would be
      antidilutive.





Comprehensive
      income (loss) - The
      Company's bank accounts were located in Thailand, with funds in Thai baht.
      Foreign currency translation gains and losses were $969 for the period ended
      April 30, 2006. Effective May 6, 2006 the bank accounts in Thailand were closed
      and all of company’s funds at July 31, 2006 were held in a trust account
      maintained by the Company’s lawyers Gottbetter & Partners in United States
      Dollars. See Note 7 regarding comprehensive income.





Foreign
      Currency Translation -
      Up to May 6, 2006 the Company's functional currency was in Thai baht as
      substantially all of the Company's operations were in Thailand.  The
      Company used the United States dollar as its reporting currency for consistency
      with registrants of the Securities and Exchange Commission (“SEC”) and in
      accordance with the SFAS No. 52 - “Foreign Currency Translation”. Assets and
      liabilities denominated in a foreign currency are translated at the exchange
      rate in effect at the period end and capital accounts are translated at
      historical rates.  Income statement accounts are translated at the average
      rates of exchange prevailing during the period.  Translation adjustments
      from the use of different exchange rates from period to period are included
      in
      the comprehensive income account in stockholder's equity, if
      applicable.





On
      April
      22, the Company's officers resigned and Darren Stevenson was appointed as the
      new President, Secretary and Chief Executive Officer of the Company, and on
      May
      6, 2006, the Company's board of directors resigned and Mr. Stevenson and Bruno
      Mosimann became the Company's new directors. As a result of these events, the
      Company's operations have moved to Canada and the functional currency of the
      Company is the United States Dollar. The Company continues to use the United
      States dollar as its reporting currency for consistency with registrants of
      the
      SEC.





7





BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)(A DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS (CONTINUED)




Transactions
      undertaken in currencies other than the functional currency of the entity are
      translated using the exchange rate in effect as of the transaction date. 
Any exchange gains and losses are included in other items on the statement
      of
      operations.





Revenue
      recognition - The
      Company has no revenues to date from its operations.





Advertising
      costs - The
      Company recognizes advertising expenses in accordance with Statement of Position
      93-7 “Reporting on Advertising Costs.” Accordingly, the Company expenses the
      costs of producing advertisements at the time production occurs, and expenses
      the costs of communicating advertisements in the period in which the advertising
      space or airtime is used. The Company has recorded no significant advertising
      costs for the period from October 12, 2004 (Date of Inception) through July
      31,
      2006.





Legal
      Procedures - The
      Company is not aware of, nor is it involved in, any pending legal
      proceedings.





Stock-based
      compensation - The
      Company applies Accounting Principles Board (“APB”) Opinion No. 25, Accounting
      for Stock Issued to Employees, and Related Interpretations, in accounting for
      stock options issued to employees. Under APB No. 25, employee compensation
      cost
      is recognized when estimated fair value of the underlying stock on date of
      the
      grant exceeds exercise price of the stock option. For stock options and warrants
      issued to non-employees, the Company applies SFAS No. 123, Accounting for
      Stock-Based Compensation, which requires the recognition of compensation cost
      based upon the fair value of stock options at the grant date using the
      Black-Scholes option pricing model.





The
      following table represents the effect on net loss and loss per share if the
      Company had applied the fair value based method and recognition provisions
      of
      Statement of Financial Accounting Standards (SFAS) No. 123, "Accounting for
      Stock-Based Compensation", to stock-based employee compensation for the nine
      months ended July 31, 2006:


2006Net
                  loss, as reported
              
              $
              (224,301
              )Other
                  comprehensive income
              
              
              1,823Add:
                  Stock-based employee compensation expense included in reported
                  loss, net
                  of related tax effects
              
              
              --Deduct:
                  Total stock-based employee compensation expense determined under
                  fair
                  value based methods for all awards, net of related tax
                  effects
              
              
              --Pro
                  forma net loss
              
              $
              (222,478
              )Net
                  loss per common share:Basic
                  and fully diluted loss per share, as reported
              
              $
              (0.00
              )Basic
                  and fully diluted loss per share, pro forma
              
              $
              (0.00
              )


There
      were a total of 1,000,000 stock options granted to Mr. Stevenson during the
      period ended July 31, 2006. There were no other written or verbal
      agreements related to the sale of any stock, option or warrants of the Company's
      common stock. Details of stock options granted to Mr. Stevenson are set forth
      below.





Compensation -





The
      Company entered into an Employment Agreement and a Stock Option Agreement with
      Darren Stevenson, both of which became effective as of April 18, 2006, as part
      of his compensation for becoming the Company's Chief Executive Officer,
      President and Secretary.





The
      Employment Agreement provides Mr. Stevenson with $60,000 (Canadian) per annum,
      to be increased to $120,000 (Canadian) per annum in the event that the Company
      conducts a placement of it securities of at least US$50,000,000. The term of
      the
      Employment Agreement is for two years.




8




BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)(A DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS (CONTINUED)




Under
      the
      Stock Option Agreement, Mr. Stevenson received options to purchase 1,000,000
      shares of our common stock (on a post-split basis as described below) with
      100,000 options vesting on the date that the Company files with the Secretary
      of
      State of Nevada an amendment to its Articles of Incorporation which, among
      other
      things, increases its authorized common stock to 300,000,000 shares and changes
      its name to “Blacksands Petroleum, Inc.” (which was June 9, 2006). Options to
      purchase 200,000 shares of Common Stock will vest on January 1, 2007, options
      to
      purchase 200,000 shares of Common Stock will vest if the Company conducts a
      placement of at least US$10,000,000 (which was August 9, 2006) and options
      to
      purchase 500,000 shares of Common Stock will vest if the Company conducts a
      placement of at least US$50,000,000. The company enacted a 30:1 forward stock
      split on June 9, 2006, and all of the share amounts for which the options are
      exercisable are on a post-split basis. All of the options, once vested, are
      exercisable at $2.00 per share.


The
        Company valued the options issued to Mr. Stevenson at a $0 value based on
        a
        closing price of $ 0.03, an exercise price of $ 2.00, and a term of 2 years.
        The
        Company used the average historical volatility of 3 companies deemed to be
        in
        the same industry as the Company as 50.86%.





New
      accounting pronouncements -





In
      December 2004, the FASB issued SFAS No. 123 (revised 2004). Share-Based Payment,
      which is a revision of SFAS No. 123, Accounting for Stock-Based Compensation.
      SFAS No. 123(R) supersedes APB Opinion No. 25, Accounting for Stock Issued
      to
      Employees, and amends SFAS No. 95, Statement of Cash Flows. Generally, the
      approach in SFAS No. 123(R) is similar to the approach described in SFAS No.
      123. However, SFAS No. 123(R) requires all share-based payments to employees,
      including grants of employee stock options, to be recognized in the income
      statement based on their fair values. Pro forma disclosure is no longer an
      alternative. The new standard will be effective for the Company in the first
      interim or annual reporting period beginning after December 15, 2005. The
      adoption of this standard will not impact the financial statements for the
      nine
      months ended July 31, 2006 but it may have a material impact on its financial
      statements for future periods.





In
      May
      2005, the FASB issued SFAS No. 154, “Accounting Changes and Error
      Corrections” (“SFAS 154”). SFAS 154 replaces Accounting Principles
      Board Opinion No. 20 “Accounting Changes” and SFAS No. 3,
“Reporting Accounting Changes in Interim Financial Statements-An Amendment of
      APB Opinion No. 28.” SFAS 154 provides guidance on the accounting for
      and reporting of accounting changes and error corrections. SFAS 154
      requires “retrospective application” of the direct effect of a voluntary change
      in accounting principle to prior periods’ financial statements where it is
      practicable to do so. SFAS 154 also redefines the term “restatement” to
      mean the correction of an error by revising previously issued financial
      statements. SFAS 154 is effective for accounting changes and error
      corrections made in fiscal years beginning after December 15, 2005 unless
      adopted early. We do not expect the adoption of SFAS 154 to have a material
      impact on its consolidated financial position, results of operations or cash
      flows, except to the extent that the statement subsequently requires
      retrospective application of a future item.





In
      February 2006, the FASB issued Statement of Financial Accounting Standards
      No. 155, *Accounting
      for Certain Hybrid Financial Instruments* (“SFAS
      No. 155”), which amends Statement of Financial Accounting Standards
      No. 133, *Accounting
      for Derivative Instruments and Hedging Activities* (“SFAS
      No. 133”) and Statement of Financial Accounting Standards No. 140, *Accounting
      for Transfers and Servicing of Financial Assets and Extinguishments of
      Liabilities* (“SFAS
      No. 140”). SFAS No. 155 permits fair value measurement for any hybrid
      financial instrument that contains an embedded derivative that otherwise would
      require bifurcation, establishes a requirement to evaluate interests in
      securitized financial assets to identify interests that are freestanding
      derivatives or hybrid financial instruments containing embedded derivatives.
        We expect the adoption of SFAS 155 to have a material impact on
      its consolidated financial position, results of operations or cash
      flows.





In
      March
      2006, the FASB issued Statement of Financial Accounting Standards No. 156, *Accounting
      for Servicing of Financial Assets* (“SFAS
      No. 156”), which amends FASB Statement No. 140 (“SFAS No. 140”). SFAS 156 may be
      adopted as early as January 1, 2006, for calendar year-end entities, provided
      that no interim financial statements have been issued. Those not choosing to
      early adopt are required to apply the provisions as of the beginning of the
      first fiscal year that begins after September 15, 2006 (e.g., January 1, 2007,
      for calendar year-end entities).  The intention of the new statement is to
      simplify accounting for separately recognized servicing assets and liabilities,
      such as those common with mortgage securitization activities, as well as to
      simplify efforts to obtain hedge-like accounting.  Specifically, the FASB
      said FAS No. 156 permits a service using derivative financial instruments to
      report both the derivative financial instrument and related servicing asset
      or
      liability by using a consistent measurement attribute, or fair value.  We
      do not expect the adoption of SFAS 155 to have a material impact on its
      consolidated financial position, results of operations or cash
      flows.


9


BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)(A DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS (CONTINUED)







2.
            PROPERTY
                AND EQUIPMENT





As
      of
      July 31, 2006, the Company has no office equipment and furniture.





3.
            STOCKHOLDER'S
                EQUITY





Authorized:





On
      June
      9, 2006, the Company filed a Certificate of Amendment to its Articles of
      Incorporation with the Secretary of State of Nevada to increase the authorized
      share capital (the “Share Increase”) from 75,000,000 shares of Common Stock, par
      value $0.001, to 310,000,000 shares, comprised of 300,000,000 shares of Common
      Stock and 10,000,000 shares of Preferred Stock, par value $0.001. In addition,
      on May 6, 2006, our Board of Directors declared a 30 for 1 forward stock split
      (the “Stock Split”) in the form of a dividend. The record and payment date for
      the stock dividend was June 21, 2006. Appropriate revisions have been made
      to
      the interim financial statements for the comparable period of the prior fiscal
      year to reflect the Share Increase and the Stock Split.





Issued:




**Number
                of Shares**
            
            **Par
                Value**
            
            **Additional
                Paid in Capital**October
                12, 2004 Issued for cash
            
            
            1,000,000
            
            $
            1,000
            
            $
            4,000March
                2005 Issued for cash
            
            
            1,100,000
            
            
            1,100
            
            
            53,900Balance
                October 31, 2005
            
            
            2,100,000
            
            
            2,100
            
            
            57,900June
                21, 2006 - Stock Split 30:1
            
            
            60,900,000
            
            
            4,200
            
            
            (4,200
            )**Balance,
                July 31, 2006**
            
            
            63,000,000
            
            $
            6,300
            
            $
            53,700





The
      issued and outstanding shares were issued as follows:





30,000,000
      common shares (post-split) were issued to Alan Teegardin on October 12, 2004
      for
      the sum of $5,000 in cash which were subsequently transferred to Dr. Anchana
      Chayawatana on November 19, 2004 for the same amount. On May 6, 2006, Dr.
      Chayawatana sold her 30,000,000 shares to Darren Stevenson.




33,000,000
      common shares (post-split) were issued to 29 investors in the Company's SB-2
      offering for the aggregate sum of $55,000 in cash. The Regulation SB-2 offering
      was declared effective by the Securities and Exchange Commission on February
      15,
      2005 and completed in March 2005.





On
      June
      9, 2006, the Company filed a Certificate of Amendment to its Articles of
      Incorporation to increase its authorized capital stock to 310,000,000 authorized
      shares, consisting of 300,000,000 shares of common stock, par value $0.001
      each,
      and 10,000,000 shares of preferred stock, par value $0.001 each. The Company's
      Board of Directors may issue the preferred stock in one of more series, with
      such voting powers, designations, preferences and rights or qualifications,
      limitations or restrictions thereof as shall be stated in the resolution or
      resolutions adopted by them.





10


BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)(A DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS (CONTINUED)





4.
            LOAN
                FROM OFFICERS AND DIRECTORS





As
      of
      July 31, 2006, there are no loans to the Company from any officers and
      directors.





5.
            RELATED
                PARTY TRANSACTIONS





As
      of
      July 31, 2006, there are no significant related party transactions between
      the
      Company and any of its officers or directors other than the employment agreement
      referred to above. Included in accounts payable is $1,853 payable to the
      president in respect of the employment agreement.





6.
            STOCK
                OPTIONS





On
      April
      18, 2006, the Company entered into an employment agreement and a stock option
      agreement with Darren Stevenson. Mr. Stevenson received options to purchase
      1,000,000 shares of our common stock (on a post-split basis as described
      below) with 100,000 options vesting on the date that the Company files with
      the
      Secretary of State of Nevada an amendment to its Articles of Incorporation
      which, among other things, increases its authorized common stock to 300,000,000
      shares and changes its name to “Blacksands Petroleum, Inc.” (which was June 9,
      2006). Options to purchase 200,000 shares of Common Stock will vest on January
      1, 2007, options to purchase 200,000 shares of Common Stock will vest if the
      Company conducts a placement of at least US$10,000,000 (which was August 9,
      2006) and options to purchase 500,000 shares of Common Stock will vest if the
      Company conducts a placement of at least US$50,000,000. The Company enacted
      a
      30:1 forward stock split on June 9, 2006, and all of the share amounts for
      which
      the options are exercisable are on a post-split basis. All of the options,
      once
      vested, are exercisable at $2.00 per share. Options expire two years after
      the
      date of the grant (which was April 18, 2006).


The
        Company valued the options issued to Mr. Stevenson at a $0 value based on
        a
        closing price of $ 0.03, an exercise price of $ 2.00, and a term of 2 years.
        The
        Company used the average historical volatility of 3 companies deemed to be
        in
        the same industry as the Company as 50.86%.


The
      Company has issued no other options or entered into stock option agreements
      with
      any other persons.





As
      of
      June 26, 2006, the Company’s Board of Directors approved, and a majority of the
      Company’s shareholders ratified, the adoption of the Company’s 2006 Stock Option
      Plan (the “Plan”), pursuant to which the Board of Directors is given the ability
      to provide incentives through the issuance of options, stock, restricted stock,
      and other stock-based awards, representing up to 6,000,000 shares of the
      Company’s common stock, to certain employees, outside directors, officers,
      consultants and advisors. No awards have been granted under the Plan as of
      the
      date of this Report .





7.
            COMPREHENSIVE
                INCOME





Up
      to May
      6, 2006 the Company's bank accounts were located in Thailand, with funds in
      Thai
      baht, while the financial statements are prepared in US Dollars. Foreign
      currency translation gains were $1,823 for the nine months ended
      July 31, 2006. The before-tax amount and after-tax amount are the same for
      the
      Company. The Company maintained account balances including petty cash of Baht
      1,505,789 at April 30, 2006, while the exchange rate was $0.0266, thus the
      equivalent amount in US Dollars was $40,124. At July 31, 2006 the company had
      no
      foreign currency bank accounts.





On
      April
      22, the Company's officers resigned and Darren Stevenson was appointed as the
      new President, Secretary and Chief Executive Officer of the Company, and on
      May
      6, 2006, the Company's board of directors resigned and Mr. Stevenson and Bruno
      Mosimann became the Company's new directors. As a result of these events, the
      Company's operations have moved to Canada and the functional currency of the
      Company is the United States Dollar.





8.
            LITIGATION





As
      of
      July 31, 2006, the Company is not aware of any current or pending litigation
      which may affect the Company's operations.


11


BLACKSANDS
      PETROLEUM, INC.


(FORMERLY
      KNOWN AS LAM LIANG CORP.)(A DEVELOPMENT STAGE COMPANY)


NOTES
      TO
      FINANCIAL STATEMENTS (CONTINUED)





9.
            CONVERTIBLE
                DEBENTURES





On
      May 6,
      2006, the Company issued $1,000,000 principal amount of its debentures
      ("Debentures") to two accredited investors. The Debentures were unsecured,
      bore
      interest at the rate of 9% per annum, which interest was to begin to accrue
      commencing 150 days from issuance, and were for a term of three years. The
      Debentures were payable in consecutive monthly installments of principal and
      interest, commencing 150 days from the date of their issuance. The Debentures
      become convertible and were automatically convert, as to their outstanding
      principal amount plus accrued interest, if any, into units ("Units") of the
      Company's securities, following the last to occur of (i) the filing by the
      Company with the Secretary of State of the State of Nevada of an amendment
      (the
      "Amendment") to its Articles of Incorporation which, among other things,
      increased its authorized Common Stock to 300,000,000 shares, $0.001 par value
      per share , (ii) the declaration and distribution by the Company of a 30 for
      1
      stock split in the form of a stock dividend (the "Stock Split"), and (iii)
      the
      closing of the PPO, as defined below. Each Unit consists of one share, on a
      post-Stock Split basis, of the Company's common stock and one warrant to
      purchase a share of common stock (the "Warrants"). Each Warrant will be
      exercisable for two years commencing October 1, 2006 and will entitle its holder
      to purchase one share of Common Stock at $3.00 per share. The Company completed
      a private placement to accredited investors of $10,854,700 (the "PPO") of its
      Units on August 9, 2006. Accordingly,
      simultaneously with the closing of the PPO the Debentures converted into
      1,000,000 Units at
      a conversion price of $1.00 per Unit, equal to the price per Unit in the
      PPO. No
      interest had accrued on the Debentures as of the date of
      conversion.








10.
            LEASE
                COMMITMENTS





Effective
      July 1, 2006 the company entered into an agreement to lease office premises.
      The
      term of the lease is nine months from July 1, 2006 and the rent is $5,013 per
      month. The company has paid a deposit of $10,026 to be applied as to $5,013
      as a
      damage deposit and $5,013 as the last month’s rent. The company has the option
      to rent the premises on a month to month based following the expiration of
      the
      term of the lease.




11.
            SUBSEQUENT
                EVENTS





Effective
      August 9, 2006, the Company closed a private placement of Units of its
      securities. 10,854,700
      Units were issued at a price of $1.00 per Unit, resulting in for gross proceeds
      of $10,854,700.  The
      offering was conducted pursuant to the exemption from the registration
      requirements of the federal securities laws provided by Regulation S and Section
      4(2) of the Securities Act of 1993, as amended (the “Securities Act”) and
      Rule506 of Regulation D under the Securities Act. Each Unit consisted of one
      share, on a post-Stock Split basis, of the Company's common stock and one
      warrant to purchase a share of common stock (the "Warrants"). Each Warrant
      is
      exercisable for two years commencing October 1, 2006 and entitles its holder
      to
      purchase one share of Common Stock at $3.00 per share.  Following
      the closing of the offering, the funds will remain in escrow until a suitable
      acquisition candidate is identified and acquired. If the Company fails to
      complete a business acquisition within 12 months after the closing of the
      offering, subscription proceeds will be promptly returned to investors without
      interest or deduction.




The
      Debentures ( note 9 above) converted into Units at a conversion price of $1.00
      per Unit for a total of 1,000,000 Units.




12


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





Results
      of Operations





For
      the
      three and nine months ended July 31, 2006 and since the date of inception,
      we
      have not yet generated any revenues.


We
        incurred total operating expenses of $219,523 and $224,301 for the three
        and
        nine months ended July 31, 2006, as compared to total operating expenses
        of
        $2,987 and $8,919 for the three and nine month periods ended July 31, 2005.
        These expenses consisted of general operating expenses incurred in connection
        with the day-to-day operation of our business and the preparation and filing
        of
        our periodic reports as well as the salary paid to Darren Stevenson, our
        Chief
        Executive Officer, pursuant to an employment agreement that Mr. Stevenson
        entered into with us on April 18, 2006.


Our
      total
      comprehensive loss for the three and nine months ended July 31, 2006 was
      $219,523 and $222,478, as compared to total comprehensive loss of $5,631 and
      $12,744 for the three and nine month periods ended July 31, 2005, and a total
      comprehensive loss of $239,050 from inception on October 12, 2004 to July 31,
      2006.





Net
      cash
      used in investing activities for the three and nine months ended July 31, 2006
      was $0 and $0, as compared to $0 and $1,910 for the three and nine month periods
      ended July 31, 2005 and $1,910 for the period from inception on October 12,
      2004
      to July 31, 2006. Cash provided by financing activities for the three and nine
      months ended July 31, 2006 was $1,000,000, resulting from our issuance of
      $1,000,000 principal amount of convertible debentures in May 2006. Cash provided
      by financing activities for the three and nine months ended July 31, 2005 was
      $0
      and $55,000, respectively, resulting from the sale of our common stock in an
      initial public offering, which was completed in March 2005.





We
      are
      still in our development stage and have generated no revenues to date. Our
      auditors have expressed their doubt about our ability to continue as a going
      concern unless we are able to generate profitable operations and/or obtain
      the
      financing necessary to meet our obligations and repay our liabilities arising
      from normal business operations when they become due.





Liquidity
      and Capital Resources





At
      July
      31, 2006, we had cash in attorney’s trust account of $828,085. On May 6, 2006,
      we issued $1,000,000 principal amount in convertible debentures to two
      accredited investors in a transaction exempt from the registration requirements
      of the Securities Act of 1933, as amended (the “Securities Act”) pursuant to the
      provisions of Section 4(2) of the Securities Act.. Our management intends to
      consider possible strategic transactions in the unconventional oil industry.
      We
      expect to be able to satisfy our cash requirements for at least the next 12
      months without having to raise additional funds or seek bank loans if we do
      not
      undertake any such strategic transactions. After that 12 month period, we may
      have to raise additional monies through sales of our equity securities or
      through loans from banks or third parties to continue our business plans;
      however, no such plans have yet been implemented.





Our
      stockholders' equity at July 31, 2006 was a deficit of $179,050.





As
      reported in our Current Report on Form 8-K filed with the Securities and
      Exchange Commission on August 10, 2006, effective August 9, 2006 we closed
      a
      private placement of units (“Units”) of our securities. The offering was
      conducted pursuant to the exemption from the registration requirements of the
      federal securities laws provided by Regulation S and Section 4(2) of the
      Securities Act and Rule 506 of Regulation D under the Securities Act. Each
      Unit
      consisted of one share of common stock and one common stock purchase warrant.
      Each warrant entitles its holder to purchase one share of common stock for
      an
      exercise price of $3.00 per share, and is exercisable for a two year period
      commencing October 1, 2006. The Units were offered at a price of $1.00 per
      Unit.
      We derived total proceeds of $10,854,700 from the sale of 10,854,700 Units
      in
      the offering. The Units were offered and sold only to “accredited investors,” as
      that term is defined by Rule 501 of Regulation D, and/or to persons who were
      neither resident in, nor citizens of, the United States.





13


We
      intend
      to utilize the proceeds of the offering to identify and acquire suitable
      candidates in the unconventional petroleum industry. The proceeds of the
      offering will remain in escrow until a suitable acquisition candidate is
      identified and acquired. If we fail to complete a business acquisition within
      12
      months after the closing of the offering, subscription proceeds will be promptly
      returned to investors without interest or deduction.





Off-Balance
      Sheet Arrangements





We
      have
      no off-balance sheet arrangements.





Plan
      of Operation





Since
      inception and through April 30, 2006, our plan of operation was to design,
      contract for manufacture and distribute bags. It was our intent to produce
      "high-end", quality computer bags for a reasonable price. On May 6, 2006, three
      of our directors resigned and two new directors were appointed to our board
      of
      directors. In addition, on June 5, 2006, Maha San Lam Liang Co. Ltd., our 99.94%
      owned Thai subsidiary, was dissolved. As a result, we have exited our previous
      plan of operation. We do not currently have an operating business and are
      looking to capitalize on the experience and knowledge of our management in
      considering possible strategic transactions in the unconventional oil industry.
      Our management intends to consider strategic transactions in the unconventional
      oil industry that could require the purchase of significant property or
      equipment, hiring new employees and other substantial expenditures. As of the
      date of this report, however, we do not have specific plans to purchase any
      significant property or equipment or to incur any significant changes in
      employees during the next 12 months.








Critical
      Accounting Policies





The
      unaudited financial statements as of July 31, 2006 included in this report
      have
      been prepared without audit pursuant to the rules and regulations of the
      Securities and Exchange Commission. Certain information and footnote disclosures
      normally included in financial statements prepared in accordance with generally
      accepted accounting principles have been condensed or omitted pursuant to such
      rules and regulations. In the opinion of management, all adjustments (consisting
      of normal recurring accruals) considered necessary for a fair presentation
      have
      been included. It is suggested that these financial statements be read in
      conjunction with our October 31, 2005 audited financial statements and notes
      thereto, included in our Annual Report on Form 10-QSB for the year ended October
      31, 2005.





We
      have
      adopted SFAS No. 52, Foreign Currency Translation, which requires that the
      translation of the applicable foreign currency into U.S. dollars be performed
      for balance sheet accounts using current exchange rates in effect at the balance
      sheet date and for revenue and expense accounts using a weighted average
      exchange rate during the period. The gains or losses resulting from such
      translation are included in the consolidated statements of stockholders' equity
      and comprehensive income.





Our
      financial statements are based on the selection and application of generally
      accepted accounting principles, which require us to make estimates and
      assumptions about future events that affect the amounts reported in our
      financial statements and the accompanying notes. Future events and their effects
      cannot be determined with certainty. Therefore, the determination of estimates
      requires the exercise of judgment. Actual results could differ from those
      estimates, and any such differences may be material to our financial statements.
      We believe that our policies may involve a higher degree of judgment and
      complexity in their application than our other accounting policies and represent
      the critical accounting policies used in the preparation of our financial
      statements. If different assumptions or conditions were to prevail, the results
      could be materially different from our reported results. Our significant
      accounting policies are presented in the notes to our financial
      statements.





14


When
      we
      prepare our consolidated financial statements, we use estimates and assumptions
      that may affect reported amounts and disclosures. We base these estimates on
      historical results and various other assumptions believed to be reasonable,
      the
      results of which form the basis for making estimates concerning the carrying
      value of assets and liabilities that are not readily available from other
      sources. Actual results could differ from the amounts previously estimated,
      which were based on the information available at the time the estimates were
      made. Changes in estimates are recorded if and when better information becomes
      available.





We
      consider an accounting estimate to be critical if: (1) the accounting estimate
      requires us to make an assumption about a matter that was highly uncertain
      at
      the time the estimate was made, and (2) changes in the estimate that are
      reasonably likely to occur from period to period, or use of a different estimate
      that we reasonably could have used in the current period, could have a material
      impact on our consolidated results of operations or financial
      condition.





As
      we are
      currently a development stage company, with no revenues, we do not yet have
      an
      Audit Committee.





**Item
      3. Controls and Procedures****.**





The
      president acts both as the Company's chief executive officer and chief financial
      officer ("Certifying Officer") and is responsible for establishing and
      maintaining disclosure controls and procedures for the Company. The Certifying
      Officer has concluded (based on his evaluation of these controls and procedures
      as of a date within 90 days of the filing of this report) that the design and
      operation of the Company’s disclosure controls and procedures (as defined in
      Rule 13a-14(c) under the Securities Exchange Act of 1934) are effective and
      adequate, except at disclosed below.




As
      of the
      end of the period covered by this report, the Company conducted an evaluation,
      under the supervision and with the participation of the Chief Executive Officer
      and Chief Financial Officer, of the Company’s disclosure controls and procedures
      (as defined in Rules 13a-15(e) and 15d-15(e) under the 1934 Act. Based on this
      evaluation, the Chief Executive Officer and Chief Financial Officer concluded
      that there was a deficiency in the Company’s disclosure controls and procedures
      relating to the reporting and disclosure of a settlement for the quarter ended
      July 31, 2006. This deficiency was communicated to the Company’s independent
      registered public accountants. The Company determined that this deficiency
      did
      not result in any omission of disclosures in, or misstatements to, the Company’s
      financial statements for any prior periods or for the quarter ended July 31,
      2006. The Company also performed additional procedures in completing these
      financial statements for the quarter ended July 31, 2006 to ensure that the
      amounts and disclosures included were fairly presented in all material respects
      in accordance with GAAP.





The
      Certifying Officer has also indicated that there were no significant changes
      in
      our internal controls over financial reporting that occurred during the period
      covered by this report that has materially affected, or is reasonably likely
      to
      materially affect, our internal control over financial reporting.





On
      April
      22, 2006, our previous officers resigned and Darren Stevenson became our sole
      officer and is acting as our principal executive and accounting officer.
      Additionally, following the resignation of our board of directors on May 6,
      2006
      and the appointment of Mr. Stevenson and Bruno Mosimann as our new directors
      on
      May 6, 2006, our functional currency switched from the Thai Bhat to the United
      States Dollar. We do not expect that these changes will have a material adverse
      impact on our internal control as we have had minimal expenditures and no
      revenues to date and as our new management has implemented additional disclosure
      controls and procedures to comply with the requirements of the Exchange
      Act.





15


**PART
      II - OTHER INFORMATION**





**Item
      4. Submission of Matters to a Vote of Security Holders.**





Please
      see our Quarterly Report on Form 10-QSB for the quarterly period ended April
      30,
      2006 for information regarding actions approved by our shareholders by written
      consent as of May 6, 2006.





As
      of
      June 26, 2006, we sought and obtained the written consent, in lieu of a meeting
      of shareholders, from the holders of 34,800,000 shares of our common stock,
      constituting 55.2% of the outstanding voting power of our common stock, (i)
      adopting our 2006 Stock Option Plan and (ii) approving and ratifying the Stock
      Option Agreement between us and Darren R. Stevenson, dated April 18, 2006,
      pursuant to which we granted Mr. Stevenson options to purchase up to 1,000,000
      shares of our common stock.





**Item
      5. Other Information.**





Please
      see Part 1, Item 1. Financial Statements, of this report for information
      regarding the Share Increase and the Stock Split effected during the quarter
      ended July 31, 2006.


16


**Item
      6. Exhibits.**





Exhibit
                No.
            
            Description31.1
            
            Sec.
                302 Certification of Principal Executive Officer31.2
            
            Sec.
                302 Certification of Principal Financial Officer (1)32.1
            
            Sec.
                906 Certification of Principal Executive Officer32.2
            
            Sec.
                906 Certification of Principal Financial Officer
                (2)





(1)
            Included
                in Exhibit 31.1 filed herewith(2)
            Included
                in Exhibit 32.1 filed herewith





17


**SIGNATURES**




Pursuant
      to the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
      of
      1934, the Registrant has duly caused this report to be signed on its behalf
      by
      the undersigned, thereunto duly authorized.




**BLACKSANDS
                PETROLEUM, INC.**Date:
                September 19, 2006
            By:
            /s/ Darren
                StevensonName:  
                Darren Stevenson
              Title:    
                President and Chief Executive
                Officer








18