U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

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

                     For the Period ended September 30, 2007

                        Commission File Number 333-140445


                             SAWADEE VENTURES, INC.
                 (Name of small business issuer in its charter)

        Nevada                        1000                       20-5619324
(State of incorporation)      (Primary SIC Number)      (IRS Employer ID Number)

                           #208-828 Harbourside Drive
                      North Vancouver, B.C. Canada V7P 3R9
                               Phone (604)904-8481
                                Fax (604)904-9431
          (Address and telephone number of principal executive offices)

                            Michael M. Kessler, Esq.
                       3436 American River Drive, Suite 11
                              Sacramento, CA 95864
                               Phone (916)239-4000
                                Fax (916)239-4008
                 (Name, Address and phone of Agent for Service)

Check whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding
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 [X] No [ ]

There were 36,000,000 shares of Common Stock outstanding as of September 30,
2007.
<PAGE>
                             SAWADEE VENTURES, INC.
                        (An Exploration Stage Enterprise)
                                  Balance Sheet
                           (Expressed in U.S. Dollars)

<TABLE>
<CAPTION>
                                                                    Unaudited as of          Audited as of
                                                                   September 30, 2007      December 31, 2006
                                                                   ------------------      -----------------
<S>                                                                      <C>                    <C>
                                   A S S E T S

CURRENT ASSETS
  Cash                                                                   $ 29,813               $ 14,000
                                                                         --------               --------
      Total Current Assets                                                 29,813                 14,000
                                                                         --------               --------

      Total  Assets                                                      $ 29,813               $ 14,000
                                                                         ========               ========

                              L I A B I L I T I E S

CURRENT LIABILITIES
  Accounts Payable and Accrued Liabilities                                    765                  3,165
                                                                         --------               --------
      Total Current Liabilities                                               765                  3,165
                                                                         --------               --------

                      S T O C K H O L D E R S ' E Q U I T Y

Common Stock
  75,000,000 authorized shares, par value $0.001
  36,000,000 shares issued and outstanding                                 36,000                 18,000
  Additional Paid-in-Capital                                               18,000                     --
  Deficit accumulated during exploration stage                            (24,952)                (7,165)
                                                                         --------               --------
      Total Stockholders' Equity                                           29,048                 10,835
                                                                         --------               --------

      Total Liabilities and Stockholders' Equity                         $ 29,813               $ 14,000
                                                                         ========               ========
</TABLE>


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

                                       2
<PAGE>
                             SAWADEE VENTURES, INC.
                        (An Exploration Stage Enterprise)
                             Statement of Operations
                           (Expressed in U.S. Dollars)

<TABLE>
<CAPTION>
                                                                                         Period from           Period from
                                                                                      September 26, 2006    September 26, 2006
                                                                                     (Date of inception)   (Date of inception)
                                            Nine Months Ended   Three Months Ended         through               through
                                              September 30,       September 30,         September 30,         September 30,
                                                  2007                2007                  2006                   2007
                                               -----------         -----------           -----------            -----------
<S>                                            <C>                 <C>                   <C>                    <C>
REVENUES:
  Revenues                                     $        --         $        --           $        --            $        --
                                               -----------         -----------           -----------            -----------
      Total Revenues                                    --                  --                    --                     --
                                               -----------         -----------           -----------            -----------
EXPENSES:
  Operating Expenses
    Exploration expenses                            10,000                  --                    --                 10,000
    Impairment of mineral property                      --              10,000                    --                  4,000
    General and Adminstrative                        6,287               2,642                    --                  7,052
    Professional Fees                                1,500                  --                                        3,900
                                               -----------         -----------           -----------            -----------

      Total Expenses                                17,787              12,642                    --                 24,952
                                               -----------         -----------           -----------            -----------

      Net loss from Operations                     (17,787)            (12,642)                   --                (24,952)

PROVISION FOR INCOME TAXES:
  Income Tax Benefit                                    --                  --                    --                     --
                                               -----------         -----------           -----------            -----------
      Net Income (Loss) for the period         $   (17,787)        $   (12,642)                   --            $   (24,952)
                                               ===========         ===========           ===========            ===========

Basic and Diluted Earnings Per Common Share          (0.00)              (0.00)                   --                  (0.00)
                                               -----------         -----------           -----------            -----------
Weighted Average number of Common Shares
 used in per share calculations                 29,316,176          36,000,000                    --             26,318,919
                                               ===========         ===========           ===========            ===========
</TABLE>


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

                                       3
<PAGE>
                             SAWADEE VENTURES, INC.
                        (An Exploration Stage Enterprise)
                        Statement of Stockholders' Equity
    For the period from September 26, 2006 (inception) to September 30, 2007
                           (Expressed in U.S. Dollars)

<TABLE>
<CAPTION>
                                                         $0.001        Paid-In      Accumulated    Stockholders'
                                           Shares       Par Value      Capital        Deficit         Equity
                                           ------       ---------      -------        -------         ------
<S>                                     <C>            <C>           <C>             <C>             <C>
Balance, September 26, 2006
 (Date of Inception)                             --     $     --       $     --      $      --       $     --

Stock Issued for cash at $0.001
 per share on December 1, 2006           18,000,000       18,000             --             --         18,000


Net Loss for the Period                          --           --             --         (7,165)        (7,165)
                                         ----------     --------       --------      ---------       --------

Balance, December 31, 2006               18,000,000       18,000             --         (7,165)        10,835

Stock Issued for cash at $0.002
per share on April 12, 2007              18,000,000       18,000         18,000             --         36,000

Net Loss for the Period                          --           --             --        (17,787)       (17,787)
                                         ----------     --------       --------      ---------       --------

Balance, September 30, 2007              36,000,000     $ 36,000       $ 18,000      $ (24,952)      $ 29,048
                                         ==========     ========       ========      =========       ========
</TABLE>


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

                                       4
<PAGE>
                             SAWADEE VENTURES, INC.
                        (An Exploration Stage Enterprise)
                             Statement of Cash Flows
                           (Expressed in U.S. Dollars)

<TABLE>
<CAPTION>
                                                                                     Period from           Period from
                                                                                  September 26, 2006    September 26, 2006
                                                Nine Months      Three Months    (Date of inception)   (Date of inception)
                                                  Ended             Ended              through               through
                                               September 30,     September 30,       September 30,         September 30,
                                                   2007              2007                2006                   2007
                                                 --------          --------            --------               --------
<S>                                            <C>                <C>                    <C>                      <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Loss                                       $(17,787)         $(12,642)           $     --               $(24,952)
  Adjustments to reconcile net loss to net
   cash used in operating activities:
     Impairment of mineral property                    --                --                  --                  4,000
     Accounts Payable and Accrued Liabilities      (2,400)               --                  --                    765
                                                 --------          --------            --------               --------
Net Cash Provided from Operating Activities       (20,187)          (12,642)                 --                (20,187)
                                                 --------          --------            --------               --------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Mineral property option payment                      --                --                  --                 (4,000)
                                                 --------          --------            --------               --------
Net Cash Used in Investing Activities                  --                --                  --                 (4,000)
                                                 --------          --------            --------               --------
CASH FLOWS FROM FINANCING ACTIVITIES:
  Common Stock issued for cash                     36,000                --                  --                 54,000
                                                 --------          --------            --------               --------
Net Cash Provided from Financing Activities        36,000                 0                  --                 54,000
                                                 --------          --------            --------               --------

Net Increase in Cash                               15,813           (12,642)                 --                 29,813
                                                 --------          --------            --------               --------

Cash Balance,  Begin Period                        14,000            42,455                  --                     --
                                                 --------          --------            --------               --------
Cash Balance,  End Period                        $ 29,813          $ 29,813            $     --               $ 29,813
                                                 ========          ========            ========               ========
</TABLE>


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

                                       5
<PAGE>
                              SAWADEE VENTURES INC.
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS


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

DESCRIPTION  OF  BUSINESS  AND  HISTORY  -  Sawadee   Ventures  Inc.,  a  Nevada
corporation,  (hereinafter  referred to as the "Company" or "Sawadee  Ventures")
was  incorporated  in the State of Nevada on September 26, 2006. The Company was
formed to engage in the  acquisition,  exploration  and  development  of natural
resource  properties of merit.  During the period ending September 30, 2007, the
Company  entered into an option  agreement  to acquire  certain  mineral  claims
located in British Columbia (refer to Note 3).

The Company's operations have been limited to general administrative operations,
initial  property  staking and  investigation,  and is considered an Exploration
Stage Company in accordance with Statement of Financial Accounting Standards No.
7.

The  Company  will review and further  develop  the  accounting  policies as the
business plan is implemented.

The Company's SB-2  registration  statement that was initially filed on February
5, 2007 with the Securities and Exchange  Commission  (SEC) in order to raise an
aggregate  amount of $36,000 from the sale of 18,000,000  common shares at $.002
per share,  was declared  effective by the SEC on March 2, 2007. The Company has
completed the offering as of April 12, 2007 and raised  $36,000 from the sale of
18,000,000 common shares at $0.002 per share.

MANAGEMENT OF COMPANY - The Company filed its articles of incorporation with the
Nevada Secretary of State on September 26, 2006,  indicating Sandra L. Miller on
behalf of Resident Agents of Nevada, Inc. as the sole incorporator.  The initial
list of officers  filed with the Nevada  Secretary of State on November 3, 2006,
indicates  the sole  director  Douglas  Ford as the  President,  Secretary,  and
Treasurer.

GOING CONCERN - The Company has incurred net losses of approximately $24,952 for
the period from  September  26, 2006 (Date of Inception)  through  September 30,
2007 and has commenced limited  operations,  raising substantial doubt about the
Company's  ability  to  continue  as a going  concern.  The  Company  will  seek
additional  sources of capital through the issuance of debt or equity financing,
but there can be no assurance the Company will be  successful  in  accomplishing
its objectives.

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 December 31.

                                       6
<PAGE>
                              SAWADEE VENTURES INC.
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS


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

USE OF ESTIMATES - The  preparation  of the  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 amount of revenue and expenses during
the reporting period. Actual results could differ from those estimates.

INCOME  TAXES - The Company  accounts for its income  taxes in  accordance  with
Statement of Financial  Accounting  Standards  ("SFAS") 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 basis 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.  The Company has not recorded a valuation  allowance  for the
full  potential  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  anti-dilutive.  For the  period  from
September 26, 2006 (Date of Inception)  through  September 30, 2007, the Company
had no potentially dilutive securities.

STOCK-BASED  COMPENSATION  - The Company has not adopted a stock option plan and
has not granted any stock options.  Accordingly no stock-based  compensation has
been recorded to date.

LONG-LIVED  ASSETS - In accordance  with Financial  Accounting  Standards  Board
("FASB") SFAS No. 144,  "Accounting for the Impairment or Disposal of Long-Lived
Assets",  the carrying value of intangible assets and other long-lived assets is
reviewed on a regular basis for the existence of facts or circumstances that may
suggest  impairment.  The  Company  recognizes  impairment  when  the sum of the
expected  undiscounted future cash flows is less than the carrying amount of the
asset.  Impairment  losses,  if any,  are measured as the excess of the carrying
amount of the asset over its estimated fair value.

                                       7
<PAGE>
                              SAWADEE VENTURES INC.
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS


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

MINERAL PROPERTY COSTS - The Company has been in the exploration stage since its
inception on September  26, 2006 and has not yet realized any revenues  from its
planned operations,  being the acquisition and exploration of mining properties.
Mineral property  exploration  costs are expensed as incurred.  Mineral property
acquisition costs are initially  capitalized when incurred using the guidance in
EITF 04-02,  "Whether  Mineral  Rights Are Tangible or Intangible  Assets".  The
Company  assesses  the  carrying  costs  for  impairment  under  SFAS  No.  144,
"Accounting  for  Impairment  or Disposal  of Long Lived  Assets" at each fiscal
quarter  end.  When  it has  been  determined  that a  mineral  property  can be
economically developed as a result of establishing proven and probable reserves,
the costs then incurred to develop such property,  are  capitalized.  Such costs
will be amortized using the  units-of-production  method over the estimated life
of the probable  reserve.  If mineral  properties are subsequently  abandoned or
impaired, any capitalized costs will be charged to operations.

NEW ACCOUNTING  PRONOUNCEMENTS  - 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 do not expect the adoption of SFAS 155 to have a material impact
on the company's 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
after  September  15, 2006.  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,  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 the  Company's  financial  position,
results of operations or cash flows.

                                       8
<PAGE>
                              SAWADEE VENTURES INC.
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS


2. PROPERTY AND EQUIPMENT

As of  September  30,  2007,  the  Company  does  not  own any  property  and/or
equipment.

3. MINERAL PROPERTY

Effective  December  31,  2006,  the  Company  entered  into a Mineral  Property
Purchase  Agreement (the  "Agreement")  with Cazador  Resources  Ltd., a private
British  Columbia  company,  whereby the Company obtained an option to acquire a
total of 3 mining  claims  covering  approximately  1,836  acres  located in the
Vernon Mining District of British Columbia (the "Lavington Property").

Under the terms of the Agreement,  the Company paid $4,000 upon execution and in
order to maintain the option,  is required to pay a further  $5,000 on the first
anniversary  of the effective  date and $6,000 on the second  anniversary of the
effective  date.  Upon  completion  of  the  required  payments,  which  may  be
accelerated  at the  Company's  option,  the Company will own an undivided  100%
interest in the Lavington Property subject to a 1.5% net smelter return owing to
the vendor commencing upon commercial production being achieved.

Prior to completing the payments  required under the Agreement,  the Company has
the right to conduct  exploration and development  activities on the property at
its sole discretion and may, having provided notice to the vendor, terminate the
Agreement and relieve itself from any obligations thereunder.

The cost of the mineral property option was initially  capitalized.  The Company
has recognized an impairment  loss of $4,000,  as it has not yet been determined
whether there are proven or probable reserves on the property.

4. STOCKHOLDER'S EQUITY

The  Company has  75,000,000  shares  authorized  with a par value of $0.001 per
share.

A total of  36,000,000  shares of the  Company's  common stock have been issued.
18,000,000  shares of the  Company's  common  stock to the sole  director of the
Company pursuant to a stock subscription agreement at $0.001 per share for total
proceeds of $18,000.  Another 18,000,000 shares of the Company's common stock at
a price of $0.002 per share for gross proceeds of $36,000

                                       9
<PAGE>
                              SAWADEE VENTURES INC.
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS


5. RELATED PARTY TRANSACTIONS

Douglas Ford,  the sole officer and director of the Company was not paid for any
underwriting services that he performed on behalf of the Company with respect to
the Company's recently completed SB-2 prospectus offering.

As of September 30, 2007 there are no other related party  transactions  between
the Company and any officers other than those mentioned above.

6. STOCK OPTIONS

As of  September  30,  2007,  the  Company  does  not  have  any  stock  options
outstanding,  nor does it have any written or verbal agreements for the issuance
or distribution of stock options at any point in the future.

7. LITIGATION

As of  September  30,  2007,  the Company is not aware of any current or pending
litigation which may affect the Company's operations.

                                       10
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

RESULTS OF OPERATIONS

We are still in our exploration stage and have not generated any revenue.

We incurred operating expenses of $12,642 and $17,787 for the three and nine
month periods ended September 30, 2007, respectively. 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
and registration statement.

Our net loss from inception (September 26, 2007) through September 30, 2007 was
$24,952.

In their report on our audited financial statements as at December 31, 2006, our
auditors expressed their doubt about our ability to continue as a going concern
unless we are able to raise additional capital and ultimately to generate
profitable operations.

LIQUIDITY AND CAPITAL RESOURCES

Our cash in the bank at September 30, 2007 was $29,813. In order to satisfy our
cash requirements we were required to complete our offering of 18,000,000 shares
registered pursuant to our SB-2 Registration Statement which became effective on
March 2, 2007. As of April 13, 2007 the offering was completed for total
proceeds to the company of $36,000 (18,000,000 shares at $0.002).

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

BUSINESS OPERATIONS OVERVIEW

Our registration statement became effective on March 2, 2007. Our offering of
18,000,000 common shares was completed on April 13, 2007. Our 12 month budget is
based on operations which will be funded by the $36,000 raised through our
offering.

Our plan of operation for the next twelve months is to complete the first phase
of exploration programs on the Lavington mineral property consisting of soil
sampling and prospecting, geochemical analyses; data evaluation and reporting.
In addition to the $20,000 we anticipate spending for Phase I of the exploration
program as outlined below, we anticipate spending an additional $15,000 on
professional fees, including fees payable in connection with compliance with
reporting obligations, general administrative costs, and lease option payments.
Total expenditures over the next 12 months are therefore expected to be $35,000,
which is the amount raised in our offering.

                                       11
<PAGE>
Lavington Property Cost Proposal

                                                                 Cost
         Phase 1                                                -------
         Soil sampling and prospecting (6 mandays)                4,500
         Geochemical Analyses (100 soils, 50 rocks)               3,000
         Geophysical Test Survey - (IP/Mag/VLF-EM)                9,500
         Data evaluation and reporting                            2,000
         Contingency                                              1,500
                                                                -------
         subtotal                                                20,000

         Phase 2
         Geophysical Surveys (10 km IP-Mag-VLF)                  15,000
         Linecutting (10 km)                                     10,000
         Diamond Drilling (1,000 feet @ $50/foot)                50,000
         Drillcore sampling (250 samples @ $20/sample)            5,000
         Geological supervision                                  10,000
         Data evaluation and reporting                            5,000
         Contingency                                              5,000
         subtotal                                               100,000
                                                                -------

         Grand Total                                            120,000
                                                                =======

The above program costs are management's estimates based upon the
recommendations of the professional geologist's report and the actual project
costs may exceed our estimates.

During the quarter ended September 30, 2007 we commenced phase one of the
exploration program on the claim. We anticipate that phase one of the program
should take approximately two and a half months to complete. Following phase one
of the exploration program, if it proves successful in identifying mineral
deposits and we are able to raise the necessary funds, of which there is no
guarantee, we intend to proceed with phase two of our exploration program. The
estimated cost of this program is $100,000 and will take approximately three
months to complete.

Subject to financing, we anticipate commencing the second phase of our
exploration program in spring 2008. We do not have any verbal or written
agreement regarding the retention of any qualified engineer or geologist for our
planned exploration program. We will require additional funding to proceed with
any subsequent recommended drilling work on the claim. We cannot provide
investors with any assurance that we will be able to raise sufficient funds to
fund any work after the first phase of the exploration program.

                                       12
<PAGE>
SIGNIFICANT ACCOUNTING POLICIES

The Company's financial statements are prepared using the accrual method of
accounting. The Company's year end is December 31, with its initial period being
from September 26, 2006 to December 31, 2006.

The unaudited financial statements as of September 30, 2007 included herein have
been prepared without audit pursuant to the rules and regulations of the U.S.
Securities and Exchange Commission. Certain information and footnote disclosures
normally included in financial statements prepared in accordance with general
accepted accounting procedures 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 December 31, 2006 audited financial statements and notes
thereto, which can be found in our SB-2 Registration Statement on the SEC
website at www.sec.gov under our SEC File Number 333-140445.

USE OF ESTIMATES - The preparation of the 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 amount of revenue and expenses during
the reporting period. Actual results could differ from those estimates.

INCOME TAXES - The Company accounts for its income taxes in accordance with
Statement of Financial Accounting Standards ("SFAS") 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 basis 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. The Company has recorded a valuation allowance for the full
potential 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 anti-dilutive. For the period from
September 26, 2006 (Date of Inception) through September 30, 2007, the Company
had no potentially dilutive securities.

                                       13
<PAGE>
STOCK-BASED COMPENSATION - The Company has not adopted a stock option plan and
has not granted any stock options. Accordingly no stock-based compensation has
been recorded to date.

LONG-LIVED ASSETS - In accordance with Financial Accounting Standards Board
("FASB") SFAS No. 144, "Accounting for the Impairment or Disposal of Long-Lived
Assets", the carrying value of intangible assets and other long-lived assets is
reviewed on a regular basis for the existence of facts or circumstances that may
suggest impairment. The Company recognizes impairment when the sum of the
expected undiscounted future cash flows is less than the carrying amount of the
asset. Impairment losses, if any, are measured as the excess of the carrying
amount of the asset over its estimated fair value.

MINERAL PROPERTY COSTS - The Company has been in the exploration stage since its
inception on September 26, 2006 and has not yet realized any revenues from its
planned operations, being the acquisition and exploration of mining properties.
Mineral property exploration costs are expensed as incurred. Mineral property
acquisition costs are initially capitalized when incurred using the guidance in
EITF 04-02, "Whether Mineral Rights Are Tangible or Intangible Assets". The
Company assesses the carrying costs for impairment under SFAS No. 144,
"Accounting for Impairment or Disposal of Long Lived Assets" at each fiscal
quarter end. When it has been determined that a mineral property can be
economically developed as a result of establishing proven and probable reserves,
the costs then incurred to develop such property, are capitalized. Such costs
will be amortized using the units-of-production method over the estimated life
of the probable reserve. If mineral properties are subsequently abandoned or
impaired, any capitalized costs will be charged to operations.

NEW ACCOUNTING PRONOUNCEMENTS - 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 do not expect the adoption of SFAS 155 to have a material impact
on the company's 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
after September 15, 2006. The intention of the new statement is to simplify
accounting for separately recognized servicing assets and liabilities, such as

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those common with mortgage securitization activities, as well as to simplify
efforts to obtain hedge-like accounting. Specifically, 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 the Company's financial position,
results of operations or cash flows.

In September 2006, FASB issued Financial Accounting Standards No. 157, "Fair
Value Measurements." This Statement defines fair value, establishes a framework
for measuring fair value in generally accepted accounting principles (GAAP), and
expands disclosures about fair value measurements. This Statement applies under
other accounting pronouncements that require or permit fair value measurements,
the Board having previously concluded in those accounting pronouncements that
fair value is the relevant measurement attribute. Accordingly, this Statement
does not require any new fair value measurements. However, for some entities,
the application of this Statement will change current practice. SFAS 157 is
effective in the first fiscal year that begins after November 15, 2007.

ITEM 3. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

Under the supervision and with the participation of our management, including
our principal executive officer and the principal financial officer, we have
conducted an evaluation of the effectiveness of the design and operation of our
disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e)
under the Securities and Exchange Act of 1934, as of the end of the period
covered by this report. Based on this evaluation, our principal executive
officer and principal financial officer concluded as of the evaluation date that
our disclosure controls and procedures were effective such that the material
information required to be included in our Securities and Exchange Commission
reports is recorded, processed, summarized and reported within the time periods
specified in SEC rules and forms relating to our company, particularly during
the period when this report was being prepared.

Additionally, there were no significant changes in our internal controls or in
other factors that could significantly affect these controls subsequent to the
evaluation date. We have not identified any significant deficiencies or material
weaknesses in our internal controls, and therefore there were no corrective
actions taken.

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                           PART II - OTHER INFORMATION

ITEM 6. EXHIBITS

The following exhibits are included with this quarterly filing. Those marked
with an asterisk and required to be filed hereunder, are incorporated by
reference and can be found in their entirety in our Form SB-2 Registration
Statement, filed under SEC File Number 333-140445, at the SEC website at
www.sec.gov:

     Exhibit No.                       Description
     -----------                       -----------

        3.1         Articles of Incorporation*
        3.2         Bylaws*
       31.1         Sec. 302 Certification of Principal Executive Officer
       31.2         Sec. 302 Certification of Principal Financial Officer
       32.1         Sec. 906 Certification of Principal Executive Officer
       32.2         Sec. 906 Certification of Principal Financial Officer

                                   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.

November 13, 2007        Sawadee Ventures, Inc., Registrant


                         By: /s/ Douglas E. Ford
                             ---------------------------------------------------
                             Douglas E. Ford, Chief Executive Officer,
                             Chief Financial Officer, Chief Accounting Officer &
                             Sole Director

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

November 13, 2007        Sawadee Ventures, Inc., Registrant


                         By: /s/ Douglas E. Ford
                            ----------------------------------------------------
                            Douglas E. Ford, Sole Director, President,
                            Secretary, Treasurer, Chief Executive Officer, Chief
                            Financial Officer, and Principal Accounting Officer

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