UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

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

    FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2008

                        Commission file number 333-140445


                             SAWADEE VENTURES, INC.
             (Exact name of registrant as specified in its charter)

                                     NEVADA
         (State or other jurisdiction of incorporation or organization)

                           #208-828 Harbourside Drive
                      North Vancouver, B.C. Canada V7P 3R9
          (Address of principal executive offices, including zip code.)

                                  (604)904-8481
                     (Telephone number, including area code)

                            Michael M. Kessler, Esq.
                       3436 American River Drive, Suite 11
                              Sacramento, CA 95864
                                 (916) 239-4000
            (Name, address and telephone number of agent for service)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the last 90 days. YES [X] NO [ ]

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

Large accelerated filer [ ]                        Accelerated filer [ ]

Non-accelerated filer  [ ]                         Smaller reporting company [X]

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

State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 36,000,000 shares as of March 31,
2008
<PAGE>
ITEM 1. FINANCIAL STATEMENTS

                             SAWADEE VENTURES, INC.
                        (An Exploration Stage Enterprise)
                                  Balance Sheet
                           (Expressed in U.S. Dollars)

<TABLE>
<CAPTION>
                                                                Unaudited as of      Audited as of
                                                                   March 31,          December 31,
                                                                     2008                 2007
                                                                   --------             --------
<S>                                                                <C>                  <C>
                                   A S S E T S

CURRENT ASSETS
  Cash                                                             $ 21,716             $ 25,018
  Prepaid Expenses                                                      140                   --
                                                                   --------             --------
      Total Current Assets                                           21,856               25,018
                                                                   --------             --------

      Total  Assets                                                $ 21,856             $ 25,018
                                                                   ========             ========

                             L I A B I L I T I E S

CURRENT LIABILITIES
  Accounts Payable and Accrued Liabilities                            2,770                5,450
                                                                   --------             --------
      Total Current Liabilities                                       2,770                5,450
                                                                   --------             --------

                      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               36,000
Additional Paid-in-Capital                                           18,000               18,000
Deficit accumulated during exploration stage                        (34,914)             (34,432)
                                                                   --------             --------
      Total Stockholders' Equity                                     19,086               19,568
                                                                   --------             --------

      Total Liabilities and Stockholders' Equity                   $ 21,856             $ 25,018
                                                                   ========             ========
</TABLE>

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

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

<TABLE>
<CAPTION>
                                                                                                 Period from
                                                                                              September 26, 2006
                                                    Three Months          Three Months       (Date of inception)
                                                       Ended                 Ended                through
                                                      March 31,             March 31,             March 31,
                                                        2008                  2007                  2008
                                                     -----------           -----------           -----------
<S>                                                  <C>                   <C>                   <C>
REVENUES:
  Revenues                                           $        --           $        --           $        --
                                                     -----------           -----------           -----------
      Total Revenues                                          --                    --                    --

EXPENSES:
  Operating Expenses
    Exploration expenses                                      --                    --                10,000
    Impairment of mineral property                            --                    --                 9,000
    General and Adminstrative                                482                 2,300                 5,259
    Professional Fees                                         --                 1,500                10,655
                                                     -----------           -----------           -----------

      Total Expenses                                         482                 3,800                34,914
                                                     -----------           -----------           -----------

      Net loss from Operations                              (482)               (3,800)              (34,914)

PROVISION FOR INCOME TAXES:
  Income Tax Benefit                                          --                    --                    --
                                                     -----------           -----------           -----------

      Net Income (Loss) for the period               $      (482)          $    (3,800)          $   (34,914)
                                                     ===========           ===========           ===========

Basic and Diluted Earnings Per Common Share                (0.00)                (0.00)                (0.00)
                                                     -----------           -----------           -----------

Weighted Average number of Common Shares
 used in per share calculations                       36,000,000             5,752,577            27,391,304
                                                     ===========           ===========           ===========
</TABLE>


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

                                       3
<PAGE>
                             SAWADEE VENTURES, INC.
                        (An Exploration Stage Enterprise)
                        Statement of Stockholders' Equity
      For the period from September 26, 2006 (inception) to March 31, 2008
                           (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 (audited)                --           --             --         (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 Year (audited)                  --           --             --        (27,267)       (27,267)
                                         ----------     --------       --------      ---------       --------

Balance, December 31, 2007               36,000,000       36,000         18,000        (34,432)        19,568
                                         ----------     --------       --------      ---------       --------

Net Loss for the Period (unaudited)              --           --             --          (482)           (482)
                                         ----------     --------       --------      ---------       --------

Balance, March 31, 2008                  36,000,000     $ 36,000       $ 18,000      $ (34,914)      $ 19,086
                                         ==========     ========       ========      =========       ========
</TABLE>

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

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

<TABLE>
<CAPTION>
                                                                                            Period from
                                                                                         September 26, 2006
                                                     Three Months       Three Months    (Date of inception)
                                                        Ended              Ended             through
                                                       March 31,          March 31,          March 31,
                                                         2008               2007               2008
                                                       --------           --------           --------
<S>                                                  <C>                   <C>                   <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Loss                                             $   (482)          $ (3,800)          $(34,914)
  Adjustments to reconcile net loss to net
   cash used in operating activities:
     Impairment of mineral property                          --                 --              9,000
     Prepaid Expenses                                      (140)                --               (140)
     Accounts Payable and Accrued Liabilities            (2,680)            (2,000)             2,770
                                                       --------           --------           --------

Net Cash Provided from Operating Activities              (3,302)            (5,800)           (23,284)
                                                       --------           --------           --------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Mineral property option payment                            --                 --             (9,000)
                                                       --------           --------           --------

Net Cash Used in Investing Activities                        --                 --             (9,000)
                                                       --------           --------           --------

CASH FLOWS FROM FINANCING ACTIVITIES:
  Common Stock issued for cash                               --                 --             54,000
                                                       --------           --------           --------

Net Cash Provided from Financing Activities                  --                 --             54,000
                                                       --------           --------           --------

Net Increase (Decrease) in Cash                          (3,302)            (5,800)            21,716
                                                       --------           --------           --------

Cash, Beginning of the Period                            25,018             14,000                 --
                                                       --------           --------           --------

Cash, End of the Period                                $ 21,716           $  8,200           $ 21,716
                                                       ========           ========           ========

SUPPLEMENTAL CASH FLOW INFORMATION:
  Cash paid for interest                               $  (0.00)          $  (0.00)          $  (0.00)
                                                       ========           ========           ========

  Cash paid for income taxes                           $  (0.00)          $  (0.00)          $  (0.00)
                                                       ========           ========           ========
</TABLE>

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

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


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.  During the period  ending  March 31,  2008,  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.

GOING CONCERN - The Company has incurred net losses of approximately $34,914 for
the period from  September 26, 2006 (Date of  Inception)  through March 31, 2008
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
                                   (UNAUDITED)


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.

The Company has net  operating  loss  carryover to be used for  reducing  future
years  taxable  income.  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 March 31, 2008,  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.

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


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

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.

RECENT  ACCOUNTING  PRONOUNCEMENTS - In February 2007, the Financial  Accounting
Standards Board issued Statement of Financial  Accounting Standards No. 159, The
Fair Value Option for Financial Assets and Financial  Liabilities - Including an
amendment of FASB  Statement No. 115 ("SFAS No. 159").  This  statement  permits
entities to choose to measure many financial instruments and certain other items
at fair value.  The  objective  is to improve  financial  reporting by providing
entities with the opportunity to mitigate  volatility in reported earnings cause
by measuring related assets and liabilities  differently without having to apply
complex hedge  accounting  provisions.  This Statement is expected to expand the
use of fair value  measurement,  which is consistent with the Board's  long-term
measurement objectives for accounting for financial instruments.  This statement
is effective as of the beginning of the Company's  first fiscal year that begins
after November 15, 2007, although earlier adoption is permitted.  As of December
31, 2007,  the Company has not adopted this  statement  and  management  has not
determined the effect that adopting this  statement  would have on the Company's
financial position or results of operations.

In December  2007,  the FASB issued  SFAS No.  160,  Noncontrolling  Interest in
Consolidated Financial Statements,  an amendment of ARB No. 51 ("SFAS No. 160"),
which will change the  accounting  and reporting for minority  interests,  which
will  be  recharacterized  as  noncontrolling  interests  and  classified  as  a
component of equity  within the  consolidated  balance  sheets.  SFAS No. 160 is
effective as of the beginning of an entity's  first fiscal year  beginning on or
after  December 15, 2008.  Earlier  adoption is  prohibited.  Management has not
determined the effect that adopting this  statement  would have on the Company's
financial position or results of operations.

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


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

In  December  2007,  the FASB  issued  SFAS No.  141  (Revised  2007),  Business
Combinations  ("SFAS No.  141R").  SFAS No. 141R will change the  accounting for
business combinations. Under SFAS No. 141R, an acquiring entity will be required
to recognize all the assets acquired and liabilities assumed in a transaction at
the  acquisition-date  fair value with  limited  exceptions.  SFAS No. 141R will
change the accounting  treatment and disclosure for certain  specific items in a
business   combination.   SFAS  No.  141R  applies   prospectively  to  business
combinations  for which the acquisition date is on or after the beginning of the
entity's first annual  reporting period beginning on or after December 15, 2008.
Accordingly, any business combinations completed by the Company prior to January
1, 2009 will be recorded and disclosed  following existing GAAP.  Management has
not  determined  the  effect  that  adopting  this  statement  would have on the
Company's financial position or results of operations.

In September  2006,  FASB issued SFAS No. 157,  Fair Value  Measure"  ("SFAS No.
157"). This Statement defines fair value,  establishes a framework for measuring
fair  value  in  generally  accepted  accounting   principles  (GAAP),   expands
disclosures  about fair value  measurements,  and applies under other accounting
pronouncements that require or permit fair value measurements. SFAS No. 157 does
not require any new fair value measurements.  However, the FASB anticipates that
for some entities, the application of SFAS No. 157 will change current practice.
SFAS No. 157 is  effective  for  financial  statements  issued for fiscal  years
beginning  after  November  15,  2007,  which for the Company is the fiscal year
beginning  January 1, 2008.  The Company is currently  evaluating  the impact of
adopting SFAS No. 157 but does not expect that it will have a significant effect
on its financial position or results of operations.

In June 2006, FASB issued  Interpretation  No. 48, Accounting for Uncertainty in
Income  Taxes-an  Interpretation  of FASB  Statement  No. 109 ("FIN  48").  This
Interpretation   clarifies  the  accounting  for  uncertainty  in  income  taxes
recognized in an enterprise's  financial  statements in accordance with FASB No.
109, "Accounting for Income Taxes." This Interpretation prescribes a recognition
threshold and measurement  attribute for the financial statement recognition and
measurement  of a tax  position  taken or  expected to be taken in a tax return.
This  Interpretation  also provides guidance on  derecognition,  classification,
interest  and  penalties,   accounting  in  interim   periods,   disclosure  and
transition.  This  Interpretation  is effective for fiscal years beginning after
December 15, 2006. The Company has determined that the adoption of Statement No.
158 did not have any material  impact on the Company's  results of operations or
financial position.

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


2.   PROPERTY AND EQUIPMENT

As of March 31, 2008, 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 a
further  $5,000 on the first  anniversary  of the effective date and in order to
maintain the option, is required to pay $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 $5,000,  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

                                       10
<PAGE>
                              SAWADEE VENTURES INC.
                         (AN EXPLORATION STAGE COMPANY)
                        NOTES TO THE FINANCIAL STATEMENTS
                                   (UNAUDITED)


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 March 31, 2008 there are no other related party  transactions  between the
Company and any officers other than those mentioned above.

6.   STOCK OPTIONS

As of March 31, 2008,  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.

                                       11
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

FORWARD LOOKING STATEMENTS

Some of the statements contained in this Form 10-Q that are not historical facts
are "forward-looking statements" which can be identified by the use of
terminology such as "estimates," "projects," "plans," "believes," "expects,"
"anticipates," "intends," or the negative or other variations, or by discussions
of strategy that involve risks and uncertainties. We urge you to be cautious of
the forward-looking statements, that such statements, which are contained in
this Form 10-Q, reflect our current beliefs with respect to future events and
involve known and unknown risks, uncertainties and other factors affecting our
operations, market growth, services, products and licenses. No assurances can be
given regarding the achievement of future results, as actual results may differ
materially as a result of the risks we face, and actual events may differ from
the assumptions underlying the statements that have been made regarding
anticipated events.

All written forward-looking statements made in connection with this Form 10-Q
that are attributable to us or persons acting on our behalf are expressly
qualified in their entirety by these cautionary statements. Given the
uncertainties that surround such statements, you are cautioned not to place
undue reliance on such forward-looking statements.

The safe harbours of forward-looking statements provided by the Securities
Litigation Reform Act of 1995 are unavailable to issuers not subject to the
reporting requirements set forth under Section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as amended. As we have not registered our securities
pursuant to Section 12 of the Exchange Act, such safe harbours set forth under
the Reform Act are unavailable to us.

RESULTS OF OPERATIONS

We are still in our development stage and have generated no revenue to date.

We incurred operating expenses of $482 and $3800 for the three-month periods
ended March, 2008 and 2007, respectively. These expenses consisted of general
and administrative expenses.

At March 31, 2008, we had cash on hand of $21,716. At the same date, our total
assets were $21,856 and our liabilities were $2,770 in accounts payable.

We have sold $54,000 in equity securities since inception, $18,000 from the sale
of 18,000,000 shares of stock to our officer and director and $36,000 from the
sale of 18,000,000 shares registered pursuant to our SB-2 Registration Statement
which became effective on March 2, 2007.

The following table provides selected financial data about our company for the
period from the date of incorporation through March 31, 2008.

                                       12
<PAGE>
                     Balance Sheet Data:           3/31/08
                     -------------------           -------

                     Cash                          $21,716
                     Total assets                  $21,856
                     Total liabilities             $ 2,770
                     Shareholders' equity          $19,086

Our auditors have expressed their doubt about our ability to continue as a going
concern unless we are able to generate profitable operations.

LIQUIDITY AND CAPITAL RESOURCES

We currently have $21,716 cash on hand and prepaid expenses of $140 which
comprises our total assets. We believe that we can meet our cash needs for the
next twelve months.

PLAN OF OPERATION

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 additional $10,000 we anticipate spending for Phase I of the
exploration program, we anticipate spending an additional $10,000 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 $20,000.

Lavington Property Cost Proposal

         Phase 1                                                  Cost
         -------                                                -------
         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
                                                                =======

                                       13
<PAGE>
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 claims. The 2007 assessment work consisted of the
collection of several rock samples along both new and old road cuts, collection
of rock samples for bench scale I.P testing and assaying to determine possible
indicator or related elements. To date the results from this exploration program
appear to have not identified a commercially viable mineral deposit. We are
awaiting a complete report of the findings from this work.

Subject to the availability of the appropriate contractors, in summer 2008 we
plan to continue phase one work with a proposed Induced Polarization (I.P) test
line to test whether or not I.P could be effective in determining areas of
potential higher grade within the large alteration system. We can provide no
assurances that we will be successful in engaging contractors in a timely period
to complete the phase one exploration program.

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 summer 2008. 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.

We may decide that we cannot continue with our business operations as detailed
in our original business plan because phase one of the exploration program does
not prove successful in identifying mineral deposits or a lack of financial
resources. We may look for other potential business opportunities that might be
available to the Company. There can be no certainties that there will be any
other business opportunities available; nor the nature of the business
opportunity; nor any indication of the financial resources required of any
possible business opportunity.

OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

ITEM 4. CONTROLS AND PROCEDURES.

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

We carried out an evaluation, under the supervision and with the participation
of our management, including the chief executive officer and the chief financial
officer, 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 Exchange Act of 1934, as amended (the "Exchange Act"). Based upon
that evaluation, our chief executive officer and chief financial officer
concluded that the company's disclosure controls and procedures are effective,
as of March 31, 2008, in ensuring that material information relating to us
required to be disclosed by us in reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time

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<PAGE>
periods specified in the SEC rules and forms. Disclosure controls and procedures
include, without limitation, controls and procedures designed to ensure that
information required to be disclosed by an issuer in reports it files or submits
under the Securities Exchange Act is accumulated and communicated to management,
including its principal executive officer or officers and principal financial
officer or officers, or persons performing similar functions, as appropriate to
allow timely decisions regarding required disclosure.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING.

There was no change in our internal control over financial reporting identified
in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of
the Exchange Act 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.

                           PART II. OTHER INFORMATION

ITEM 6. EXHIBITS.

<TABLE>
<CAPTION>
Exhibit               Description                                             Method of Filing
-------               -----------                                             ----------------
<S>         <C>                                                 <C>
  3.1        Articles of Incorporation                          Incorporated by reference to Exhibit 3.1 to
                                                                the Company's Registration Statement on Form
                                                                SB-2 filed with the SEC on February 5, 2007.

  3.2        Bylaws                                             Incorporated by reference to Exhibit 3.1 to
                                                                the Company's Registration Statement on Form
                                                                SB-2 filed with the SEC on February 5, 2007.

  31.1       Certification of Chief Executive                   Filed electronically
             Officer pursuant to Section 302
             of the Sarbanes-Oxley Act of 2002.

  31.2       Certification of Chief Financial                   Filed electronically
             Officer pursuant to Section 302
             of the Sarbanes-Oxley Act of 2002.

  32.1       Certification of Chief Executive                   Filed electronically
             Officer pursuant to 18 U.S.C. Section 1350,
             as adopted pursuant to Section 906 of the
             Sarbanes-Oxley Act of 2002.

  32.2       Certification of Chief Financial                   Filed electronically
             Officer pursuant to 18 U.S.C. Section 1350,
             as adopted pursuant to Section 906 of the
             Sarbanes-Oxley Act of 2002.
</TABLE>

                                       15
<PAGE>
                                   SIGNATURES

In accordance with the requirements of the Securities Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized, on May 12, 2008.

                                       Sawadee Ventures, Inc., Registrant


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


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