Washington, D.C. 20549				FORM 10-QSB				QUARTERLY REPORT UNDER SECTION 13 OR 15 (d)				OF THE SECURITIES EXCHANGE ACT OF 1934
| For Quarter Ended:   April 30 , 2007 |   | Commission File Number 333-132236 |  |
|------------------------------------------------|--------|-----------------------------------|--|
| Nevada                          |   | 98-0441419          |  |
|---------------------------------|--------|---------------------|--|
| (State or other jurisdiction of |   | (IRS Employer       |  |
| incorporation or organization)  |   | Identification No.) |  |
| Suite 4 – 3750 Edgemont Blvd,North Vancouver, British Columbia, Canada |   | V7R 2P7    |  |
|-----------------------------------------------------------------------------|--------|------------|--|
| (Address of Principal Executive Offices)                                    |   | (Zip Code) |  |

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes  X    No      

Indicate by check mark whether the registrant is a shell company (as defined in rule 12b-2 of the Exchange Act).

Yes        No   X  

**Applicable only to issuers involved in bankruptcy proceedings during the preceding five years**

Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court.

Yes        No      

**Applicable only to corporate issuers**

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date.  As of May 30, 2007 the Company had 1,600,000 shares of Common Stock outstanding.**Transitional Small Business Disclosure Format:**

Yes        No   X  

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| **PART I     FINANCIAL INFORMATION** |                                                                                                                          |
|---------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------|
| Item 1                                                        | Financial Statements............................................................................................         | 3 |
| Item 2.                                                       | Plan of Operation.................................................................................................  | 8 |
| Item 3.                                                       | Controls and Procedures......................................................................................            | 9 |
| **Part II   OTHER INFORMATION**                     |                                                                                                                          |
| Item 1.                                                       | Legal Proceedings................................................................................................        | 10 |
| Item 2.                                                       | Changes in Securities and Use of Proceeds...........................................................                     | 10 |
| Item 3.                                                       | Defaults Upon Senior Securities............................................................................              | 10 |
| Item 4.                                                       | Submission of Matters to a Vote of Securities Holders..........................................                          | 10 |
| Item 5.                                                       | Other Matters......................................................................................................      | 10 |
| Item 6.                                                       | Exhibits................................................................................................................ | 10 |
|                                                               | Signatures............................................................................................................   | 11 |

2

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**LODGE BAY OIL AND GAS CORP.					(An Exploration Stage Company)					FINANCIAL STATEMENTS					April 30, 2007					(Unaudited)**

**BALANCE SHEETS					STATEMENTS OF OPERATIONS					STATEMENTS OF CASH FLOWS					NOTES TO THE FINANCIAL STATEMENTS**

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**LODGE BAY OIL AND GAS CORP.					(An Exploration Stage Company)					BALANCE SHEETS**

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|                                                                                                                                                                                                                                   |   | April 30,   |   | October 31, |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---|-------------|---|-------------|
|                                                                                                                                                                                                                                   |   | 2007        |   | 2006        |
|                                                                                                                                                                                                                                   |   | (Unaudited) |   |             |
| **ASSETS**                                                                                                                                                                                                                        |   |             |   |             |
|                                                                                                                                                                                                                         |   |             |   |             |
| **Current**                                                                                                                                                                                                                       |   |             |   |             |
|       Cash                                                                                                                                                                                               | $ | 70          | $ | 720         |
|                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                                   |   |             |   |             |
| **Oil and Gas Property**, unproven                                                                                                                                                                                                |   | 202,603     |   | 202,603     |
|                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                         |   |             |   |             |
|                                                                                                                                                                                                                                   | $ | 202,673     | $ | 203,323     |
| ========================================================================                                                                                                                                                          |
|                                                                                                                                                                                                                         |   |             |   |             |
|                                                                                                                                                                                                                         |   |             |   |             |
| **LIABILITIES**                                                                                                                                                                                                                   |   |             |   |             |
|                                                                                                                                                                                                                         |   |             |   |             |
| **Current**                                                                                                                                                                                                                       |   |             |   |             |
|      Accounts payable and accrued liabilities                                                                                                                                                            | $ | 4,300       | $ | 8,030       |
|      Due to related party                                                                                                                                                                                |   | 185,783     |   | 172,625     |
|                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                         |   |             |   |             |
|                                                                                                                                                                                                                                   |   | 190,083     |   | 180,655     |
|                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                         |   |             |   |             |
| **CONTINGENCY (Note 1)**                                                                                                                                                                                                          |   |             |   |             |
|                                                                                                                                                                                                                         |   |             |   |             |
| **STOCKHOLDERS’ EQUITY**                                                                                                                                                                                                    |   |             |   |             |
|                                                                                                                                                                                                                         |   |             |   |             |
| Common stock                                                                                                                                                                                                                      |   |             |   |             |
|      Authorized:                                                                                                                                                                                         |   |             |   |             |
|           90,000,000 common shares with a par value of $0.001 and						          10,000,000 preferred shares with $0.001 par value |   |             |   |             |
|      Issued and outstanding:                                                                                                                                                                             |   |             |   |             |
|           1,600,000 common shares (October 31, 2006: 1,600,000)                                                                                                                 |   | 1,600       |   | 1,600       |
|      Additional paid-in capital                                                                                                                                                                          |   | 59,400      |   | 59,400      |
| Deficit accumulated during the exploration stage                                                                                                                                                                                  |   | (48,410)    |   | (38,332)    |
|                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                         |   |             |   |             |
|                                                                                                                                                                                                                                   |   | 12,590      |   | 22,668      |
|                                                                                                                                                                                                                                   |
|                                                                                                                                                                                                                         |   |             |   |             |
|                                                                                                                                                                                                                                   | $ | 202,673     | $ | 203,323     |
| ========================================================================                                                                                                                                                          |

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|                                                                                   |   | Three								months								ended |   | Three								months								ended |   | Six								months								ended |   | Six								months								ended |   | November 22,								2004								(Inception) |
|-----------------------------------------------------------------------------------|---|----------------------------------|---|----------------------------------|---|--------------------------------|---|--------------------------------|---|---------------------------------------------|
|                                                                                   |   | April 30,2007                    |   | April 30,2006                    |   | April 30,2007                  |   | April 30,2006                  |   | to April 30,2007                            |
|                                                                         |   |                                  |   |                                  |   |                                |   |                                |   |                                             |
| **Expenses**                                                                      |   |                                  |   |                                  |   |                                |   |                                |   |                                             |
|      Office and general                                  | $ | 935                              | $ | 495                              | $ | 1,416                          | $ | 1,698                          | $ | 6,133                                       |
|      Professional fees                                   |   | 3,185                            |   | 4,245                            |   | 8,662                          |   | 12,435                         |   | 42,277                                      |
|                                                                                   |   |
|                                                                         |   |                                  |   |                                  |   |                                |   |                                |   |                                             |
| **Net Loss**                                                                      | $ | (4,120)                          | $ | (4,740)                          | $ | (10,078)                       | $ | (14,133)                       | $ | (48,410)                                    |
| ================================================================================= |
|                                                          |   |                                  |   |                                  |   |                                |   |                                |   |                                             |
|                                                          |   |                                  |   |                                  |   |                                |   |                                |   |                                             |
| **Loss Per Share - Basic and Diluted**                                            | $ | (0.00)                           | $ | (0.00)                           | $ | (0.01)                         | $ | (0.01)                         |   |                                             |
| ================================================================================= |
|                                                                         |   |                                  |   |                                  |   |                                |   |                                |   |                                             |
| **Weighted Average Number Of Basic and								Diluted Common Shares Outstanding** |   | 1,600,000                        |   | 1,600,000                        |   | 1,600,000                      |   | 1,600,000                      |   |                                             |
| ================================================================================= |

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**LODGE BAY OIL AND GAS CORP. 					(An Exploration Stage Company)					STATEMENTS OF CASH FLOWS					(Unaudited)**

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|                                                                                                      |   | Six months							ended |   | Six months							ended |   | November 22,							2004 (Inception) |
|------------------------------------------------------------------------------------------------------|---|------------------------|---|------------------------|---|-------------------------------------|
|                                                                                                      |   | April 30,2007          |   | April 30,2006          |   | to April 30,2007                    |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Cash Flows From Operating Activities**                                                             |   |                        |   |                        |   |                                     |
|      Net loss                                                               | $ | (10,078)               | $ | (14,133)               | $ | (48,410)                            |
|      Change in non-cash working capital balance:                            |   |                        |   |                        |   |                                     |
|           Accounts payable and accrued liabilities |   | (3,730)                |   | (1,027)                |   | 4,300                               |
|                                                                                                      |   |
| Net cash used in operations                                                                          |   | (13,808)               |   | (15,160)               |   | (44,110)                            |
|                                                                                                      |   |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Cash Flows From Investing Activities**                                                             |   |                        |   |                        |   |                                     |
|      Oil and Gas Property                                                   |   | -                      |   | (65,701)               |   | (202,603)                           |
|                                                                                                      |   |
| Net cash used in investing activities                                                                |   | -                      |   | (65,701)               |   | (202,603)                           |
|                                                                                                      |   |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Cash Flows From Financing Activities**                                                             |   |                        |   |                        |   |                                     |
|      Capital stock issued                                                   |   | -                      |   | -                      |   | 61,000                              |
|      Due to related party                                                   |   | 13,158                 |   | 27,225                 |   | 185,783                             |
|                                                                                                      |   |
| Net cash provided by financing activities                                                            |   | 13,158                 |   | 27,225                 |   | 246,783                             |
|                                                                                                      |   |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Increase (Decrease) In Cash**                                                                      |   | (650)                  |   | (53,636)               |   | 70                                  |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Cash, Beginning**                                                                                  |   | 720                    |   | 56,290                 |   | -                                   |
|                                                                                                      |   |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Cash, Ending**                                                                                     | $ | 70                     | $ | 2,654                  | $ | 70                                  |
| ===============================================================================                      |
|                                                                                            |   |                        |   |                        |   |                                     |
|                                                                                            |   |                        |   |                        |   |                                     |
| **Supplementary Cash Flow Information**                                                              |   |                        |   |                        |   |                                     |
|      Cash paid for:                                                         |   |                        |   |                        |   |                                     |
|           Interest                                 | $ | -                      | $ | -                      | $ | -                                   |
|           Income taxes                             | $ | -                      | $ | -                      | $ | -                                   |
| ===============================================================================                      |

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7

**Item 2. Management's Discussion and Analysis or Plan of Operations**Cautionary Statement Regarding Forward-looking StatementsThis report may contain "forward-looking" statements. Examples of forward-looking statements include, but are not limited to: (a) projections of our revenues, capital expenditures, growth, prospects, dividends, capital structure and other financial matters; (b) statements of our plans and objectives; (c) statements of our future economic performance; (d) statements of assumptions underlying other statements and statements about us and our business relating to the future; and (e) any statements using the words "anticipate,"  "expect,"  "may,"  "project,"  "intend" or similar expressions.				This section must be read in conjunction with the financial statements included in this Quarterly Report.Plan of OperationLodge Bay Oil & Gas Corp., a Nevada corporation, was incorporated on November 22, 2004.  The Company is engaged in the exploration, development, acquisition and operation of oil and gas properties. Because these activities are capital intensive and because the assets and financial resources of the Company are limited, we  conduct our business by purchasing small interests in oil and gas exploration and production ventures. Currently we are involved in one such project located in Alberta, Canada.			Pursuant to an agreement with Odin Capital Inc. dated September 23, 2005, we paid for a 2% share of the costs of drilling a test well into the Strachan Leduc reef formation located in Alberta, Canada. This well was expected to reach a depth of 4,050 meters and the anticipated costs were $6,349,426 CDN in total. The drilling was complete and casing finished on March 19, 2006 and total costs to April 30, 2007 are in excess of $10,000,000 CDN.  Our share of this amount is $202,603 (224,889 CDN). The test well went over budget due to difficulties during drilling. Furthermore, the operator did not proceed with test flowing previously because of technical difficulties encountered in the well and mixed opinions from the geologists involved in the well. We have now received notification from the operator that flow testing has begun and should be completed before June 30, 2007 following which, it will be determined if the well has enough reserves for paying quantities. Earning is now effective on the well and the spacing unit containing rights in  four sections of land. We now have the option to participate on any future operations through the Farmor, Odin Capital Inc.		We are currently researching and evaluating potential participation in other energy prospects and business opportunities in Canada and the United States.		For the three months ending April 30, 2007 the Company had no revenue, as was the case for the three months ending April 30, 2006.		Our net cash used by operating activities for the six months ended April 30, 2007 was $13,808 compared with $15,160 for the six months ended April 30, 2006. Our management believes that to continue to conduct our business beyond the next financial quarter and to acquire additional interests in oil and gas projects, we will need additional funding from:

- the offer and sale of our capital stock;			 loans in addition to the $185,783 already borrowed from the Company’s president, Mr. Barry Swanson;			revenues from our working interests, if they ever materialize. 		
Funding from any or all of these sources will have to be sufficient to pay our day to day operational needs and then, in addition, supply necessary funds for acquisitions.  There is no guarantee that required funds will be available to us for these purposes.  The Company may participate in an additional Farmout agreement with Odin Capital in the next 12 months andadditional funds would need to be raised through one of the methods listed above. Furthermore, the Company is researching and evaluating other business opportunities in North America.			The Company does not expect to purchase or sell any plant or significant equipment, nor increase our number of employees (currently the Company has no employees), during the next 12 months.

8

Off Balance Sheet Arrangements
N/A
Item 3. Controls and Procedures
(a) Evaluation of Disclosure Controls and Procedures.
		The Company's chief executive officer and chief financial officer have evaluated the effectiveness of the design and operation of the Company's disclosure controls and  procedures (as defined in Exchange Act Rule 13a-15(e)) as of the end of the period covered by this quarterly report. Based on that evaluation, the chief executive officer and chief financial officer have concluded that the Company’s disclosures and procedures are effective. Also, based on that evaluation, the chief executive officer and chief financial officer have concluded that the Company's disclosure controls and procedures are designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act of 1934 is accumulated and communicated to the Company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
		(b) Changes in Internal Controls.
		The Company’s chief executive officer and chief financial officer have concluded that there were not significant changes in the Company’s internal controls or other factors that could significantly affect those controls subsequent to the date of their evaluation. There were no control actions with regard to significant deficiencies and material weaknesses. There has been no material change in the Company’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or Rule 15d-15 of the Securities Exchange Act of 1934 that occurred during the Company’s fiscal quarter for which this report is filed that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

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Part II   OTHER INFORMATION			Item 1. Legal Proceedings
N/A
Item 2.  Changes in Securities and Use of Proceeds
N/A
Item 3.  Defaults Upon Senior Securities
N/A
Item 4.  Submission of Matters to a Vote of Securities Holders
N/A
Item 5.  Other Matters
N/A
Item 6. Exhibits
31.1     Certificate pursuant to Rule 13a-14(a)
		32.1     Certificate pursuant to 18 U.S.C. Section 1350
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SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.SIGNATURE                                     TITLE                                          DATE/s/ BARRY SWANSON                    President and Director                  June 7, 2007				(Principal Executive Officer,				Chief Financial Officer andChief Accounting Officer)

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