SECURITIES AND EXCHANGE COMMISSION
                              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: June 30, 2007

                        Commission File Number: 000-09419


                       MATRIX ENERGY SERVICES CORPORATION
             (Exact name of registrant as specified in its charter)

             NEVADA                            84-0811647
         ---------------                   ------------------
(State or other jurisdiction of           (IRS Employer Identification No.)
  incorporation or organization)

                    378 North Main, #124; Layton, Utah 84041
                    (Address of principal executive offices)

Registrant's telephone number including area code:    (801) 497-9075
                                                      --------------


                  Former Address, if changed since last report

Indicate by check mark 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 such shorter period that the registrant was
required to file such reports)

                                    Yes X No

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
Rule 12b-2 of the Exchange Act).

                                  Yes X No ___

                                   92,667,217
              (Number of shares of common stock the registrant had
                        outstanding as of August 14, 2007



<PAGE>









                                TABLE OF CONTENTS


                                     PART I

ITEM 1. FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . 3

ITEM 2.  MANAGEMENT'S  DISCUSSION  AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS . . . . . . . . . . . . . . . . 8

ITEM 3.   CONTROLS AND PROCEDURES . . . . . . . . . . . . . . . . . . . . . 10


                                     PART II

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K . . . . . . . . . . . . . . . . . 11

INDEX TO  EXHIBITS  . . . . . . . . . . . . . . . . . . . . . . . . . . . .  11

SIGNATURES  .  .  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12

CERTIFICATIONS  .  .  . . . . . . . . . . . . . . . . . . . . . . . . . . . .13





                                       2



<PAGE>








                                     PART 1


ITEM 1 - FINANCIAL STATEMENTS

         The condensed financial statements included herein have been prepared
by the Company, pursuant to the rules and regulations of the Securities and
Exchange Commission.

         In the opinion of the Company, all adjustments, consisting of only
normal recurring adjustments, necessary to present fairly the financial position
of the Company as of June 30, 2007 and the results of its operations and changes
in its financial position from September 30, 2006 through June 30, 2007 have
been made. The results of its operations for such interim period are not
necessarily indicative of the results to be expected for the entire year.

                                       3



<PAGE>


                       Matrix Energy Services Corporation
                           Consolidated Balance Sheets

                                     Assets

<TABLE>
<CAPTION>
                                                                               June 30,
                                                                                 2007             September 30,
                                                                             (Unaudited)               2006
                                                                          ---------------       ---------------
Current Assets
<S>                                                                       <C>                   <C>
                                       Total Current Assets               $             -       $             -
                                                                          ===============       ===============

                     Liabilities and Stockholders' (Deficit)

Current Liabilities
       Cash Overdraft                                                     $             6       $             -
       Accounts Payable and Accrued Expenses                                       11,727               195,402
       Accrued Interest Payable                                                    45,643                26,499
       Notes Payable                                                              262,019               245,604
                                                                          ---------------       ---------------

           Total Current Liabilities                                              319,395               467,505
                                                                          ---------------       ---------------



Stockholders'  (Deficit)

       Common Stock; $.002 Par Value; 500,000,000
       Shares Authorized;  92,667,217 Shares Issued and
       Outstanding June 30, 2007 and September 30, 2006
                                                                                  185,334               185,334
       Additional Paid-In Capital                                              46,740,082            46,740,082
       Retained Deficit                                                       (47,244,811)          (47,392,921)
                                                                          ---------------       ---------------

           Total Stockholders'(Deficit)                                          (319,395)             (467,505)
                                                                          ---------------       ---------------


               Total Liabilities & Stockholders' (Deficit)                $             -       $             -
                                                                          ===============       ===============
</TABLE>

   The accompanying note is an integral part of these consolidated financial
                                  statements.
                                       4
<PAGE>






                       Matrix Energy Services Corporation
                      Consolidated Statements of Operations
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                     For the Three Months          For the Nine Months
                                                        Ended June 30,                Ended June 30,
                                                        2007             2006            2007              2006
                                                   ------------       ----------       ----------        ----------
<S>                                                <C>                <C>              <C>               <C>
REVENUE                                            $          -       $        -       $        -        $        -
                                                   ------------       ----------       ----------        ----------

EXPENSES
    General & Administrative                              3,104            5,370           13,152            18,870
    Interest                                              6,580            5,253           19,144            15,760
                                                   ------------       ----------       ----------        ----------

      Total Expenses                                      9,684           10,623           32,296            34,630
                                                   ------------       ----------       ----------        ----------


      Loss Before Other Income (Expenses)
        and Income Taxes                                 (9,684)         (10,623)         (32,296)          (34,630)

Gain on Settlement of Debt                                    -                -          180,406                 -
                                                   ------------       ----------       ----------        ----------

     (Loss)  Income Before Income Taxes                 (9,684)         (10,623)          148,110          (34,630)

  Income Taxes                                                -                -                -                 -
                                                   ------------       ----------       ----------        ----------

        Net (Loss) Income                          $     (9,684)      $  (10,623)      $  148,110        $  (34,630)
                                                   ============       ==========       ==========        ==========


Weighted Average Number Of Shares Outstanding        92,667,217       92,667,217       92,667,217        92,667,217
                                                   ============       ==========       ==========        ==========

Net (Loss) Income Per Share:                       $      (0.00)      $    (0.00)      $     0.00        $    (0.00)
                                                   ============       ==========       ==========        ==========
</TABLE>

               The accompanying note is an integral part of these
                       consolidated financial statements.

                                       5



<PAGE>






                       Matrix Energy Services Corporation
                      Consolidated Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                   For the Nine Months Ended
                                                                                    June 30,          June 30,
                                                                                      2007              2006
                                                                                --------------    -------------

Cash Flows from Operating Activities:
<S>                                                                             <C>               <C>
        Net Income (Loss)                                                       $      148,110    $     (34,630)

Adjustments to Reconcile Net Income (Loss) to Net Cash From
Operating Activities:
        Gain on Settlement of Debt                                                    (180,406)               -

Changes in Operating Assets and Liabilities:
        Cash Overdraft                                                                       6                -
        Accrued Interest                                                                19,144           15,760
        Accounts Payable and Accrued Expenses                                           (3,269)          18,658
                                                                                --------------    -------------


             Net Cash (Used) by Operating Activities                                   (16,415)            (212)
                                                                                --------------    -------------

Cash Flows from Investing Activities
             Net Cash Provided (Used) by Investing Activities
                                                                                             -                -
                                                                                --------------    -------------

Cash Flows from Financing Activities
        Notes Payable Borrowings                                                        16,415                -
                                                                                --------------    -------------

             Net Cash Provided By Financing Activities                                  16,415                -
                                                                                --------------    -------------

(Decrease) in Cash                                                                           -             (212)
Cash, Beginning of Period                                                                    -              212
                                                                                --------------    -------------

Cash, End of Period                                                             $            -    $           -
                                                                                ==============    =============

Supplemental Schedule of Cash Flow Information
        Cash Paid For:
        Interest Paid                                                           $            -    $           -
                                                                                ==============    =============
        Income Taxes                                                            $            -    $           -
                                                                                ==============    =============
</TABLE>

               The accompanying note is an integral part of these
                       consolidated financial statements.

                                       6

<PAGE>



                                      -12-

                       Matrix Energy Services Corporation
                        Notes to the Financial Statements
                                  June 30, 2007

NOTE 1 - Interim Financial Statements

The financial statements for the three months ended June 30, 2007 were prepared
from the books and records of the company. Management believes that all
adjustments have been made to the financial statements to make a fair
presentation of the financial condition of the company as of June 30, 2007. The
results of the three months are not indicative of a full year of operation for
the Company.

Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting principles
have been condensed or omitted. It is suggested that these financial statements
be read in conjunction with the financial statements and notes thereto included
in the Company's September 30, 2006 audited financial statements. The results of
operations for the periods ended June 30, 2007 are not necessarily indicative of
the operating results for the full year.


                                       7

<PAGE>


ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

Business

         As used herein, the term "Company" refers to Matrix Energy Services
Corporation (formerly Power Exploration, Inc.), a Nevada corporation, and its
subsidiary and predecessors, unless the context indicates otherwise. Originally
incorporated on October 31, 1979 in Colorado as Imperial Energy Corp., the
Company adopted its present name in May of 2002. Current management obtained
controlling ownership of the Company in July 2005.

         The Company has had no operations since September 9, 2004. The Company
is currently looking for a business opportunity. The Company intends to take
advantage of any reasonable business proposal presented which management
believes will provide the Company and its stockholders with a viable business
opportunity. The board of directors will make the final approval in determining
whether to complete any acquisition, and unless required by applicable law, the
articles of incorporation, bylaws or by contract, stockholders' approval may not
be sought.

         The investigation of specific business opportunities and the
negotiation, drafting, and execution of relevant agreements, disclosure
documents, and other instruments will require management time and attention and
will require the Company to incur costs for payment of accountants, attorneys,
and others. If a decision is made not to participate in or complete the
acquisition of a specific business opportunity, the costs incurred in a related
investigation will not be recoverable. Further, even if agreement is reached for
the participation in a specific business opportunity by way of investment or
otherwise, the failure to consummate the particular transaction may result in
the loss to the Company of all related costs incurred.

         Currently, management is not able to determine the time or resources
that will be necessary to complete the participation in or acquisition of any
future business prospect. There is no assurance that the Company will be able to
acquire an interest in any such prospects, products or opportunities that may
exist or that any activity of the Company, regardless of the completion of any
participation in or the acquisition of any business prospect, will be
profitable.


                                       8


<PAGE>

Forward Looking Statements

         The information herein contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and uncertainty,
including, without limitation, the ability of Matrix Energy Services Corporation
("the Company") to locate business opportunities, general market conditions.
Although the Company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of the
assumptions could be inaccurate, and therefore, there can be no assurance that
the forward-looking statements included in the Form 10QSB will prove to be
accurate. In view of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such information
should not be regarded as a representation by the Company or any other person
that the objectives and plans of the Company will be achieved.


General

         During the quarter ending June 30, 2007, the Company continued to
pursue potential business opportunities and possible acquisition targets in
order to generate greater revenue and increase shareholder value.

         The following discussion of the consolidated financial condition and
results of operations of the Company should be read in conjunction with the
consolidated financial statements of the Company and the notes thereto included
in Item 1 of Part I of this Report.


Results of Operations

Revenues

         The Company had no revenues for the three months ended June 30, 2007
and 2006. There have been no revenues since September 2004 due to the
termination of operations.

Costs and Expenses

         General and administrative expenses were $3,104 for the three months
ended June 30, 2007 compared to $5,370 for the same period in 2006. Management
anticipates expenses to remain similar in future quarters with minimum business
operations.

Gross Loss

     Loss for the three months ended June 30, 2007, was $9,684 compared to
$10,623 for the same period in 2006.

Liquidity and Capital Resources

         At June 30, 2007, the Company has minimal assets and is currently in
the process of looking for business opportunities to merge with or acquire. At
minimum, the Company will need to raise additional capital through private
funding to meet the financial needs of being a reporting company. The Company's
working capital deficit of $319,395 at June 30, 2007 compared to a working
capital deficit of $467,505 at September 30, 2006 shows a decrease in working
capital deficit of $148,110 for the year to date from the figure for the year
ended September 30, 2006. The working capital deficit was decreased due to
settlement of a debt as reported under Item 5 in Part II of this report.

                                       9

<PAGE>


         Stockholders' deficit in the Company was $319,395 as of June 30, 2007,
compared to $467,505 at year-end on September 30, 2006. This decrease is due to
the settlement of a debt as reported under Item 5 in Part II of this report that
was on the books of the Company.

         Management anticipates that the Company will incur more costs including
legal and accounting fees to locate and complete a merger or acquisition. At the
present time the Company does not have the assets to meet these financial
requirements. Additionally, the Company does not have substantial assets to
entice potential business opportunities to enter into transactions with the
Company.

         It is unlikely that any revenue will be generated until the Company
locates a business opportunity with which to acquire or merge. Management of the
Company will be investigating various business opportunities. These efforts may
cost the Company not only out of pocket expenses for its management but also
expenses associated with legal and accounting costs. There can be no guarantee
that the Company will receive any benefits from the efforts of management to
locate business opportunities.

         If and when the Company locates a business opportunity, management of
the Company will give consideration to the dollar amount of that entity's
profitable operations and the adequacy of its working capital in determining the
terms and conditions under which the Company would consummate such an
acquisition. Potential business opportunities, no matter which form they may
take, will most likely result in substantial dilution for the Company's
shareholders as it has only limited capital and no operations.

         The Company does not intend to employ anyone in the future, unless its
present business operations were to change. The president of the Company is
providing the Company with a location for its offices on a "rent free basis."
The Company does intend to reimburse its officers and directors for out of
pocket costs.

ITEM 3 - CONTROLS AND PROCEDURES.

         (a) Evaluation of disclosure controls and procedures. The Company
maintains disclosure controls and procedures designed to ensure that information
required to be disclosed in the reports that the Company files or submits under
the Securities Exchange Act of 1934, is recorded, processed, summarized and
reported within the time period specified in the rules and forms of the
Securities and Exchange Commission. The Company's management including its
principal executive officer and its principal financial officer, based on their
evaluation of the Company's disclosure controls over financial reporting and
procedures (as defined in Exchange Act Rules 13a-14 (c)) in connection with the
Periodic Report on Form 10-QSB as of June 30, 2007, have concluded that the
Company's disclosure controls over financial reporting and procedures are
adequate and effective as of June 30, 2007 for the purposes set forth in the
definition in Exchange Act rules.

                                       10


<PAGE>


         (b) Changes in internal controls over financial reporting. There were
not any significant changes in the Company's internal controls over financial
reporting or in other factors that could materially affect or is reasonably
likely to materially affect, significantly affect the Company's internal
controls subsequent to the date of their evaluation

                                     PART II

OTHER INFORMATION

Item 5.       Other Information

              On May 2, 2003, a judgment was issued against the Company for
nonpayment of services in the amount of $128,000 plus interest at 10% and court
costs. The Company was made aware of their judgment in late October 2004, and a
liability was recorded in accrued liabilities in the amount of $180,406
including accrued interest of $52,406. During the first quarter of the fiscal
year the debt was resolved and has been removed from the books and records of
the Company.

Item 6.       Exhibits and Reports on Form 8-K

              (a) Exhibits.  The following exhibits follow the signature page of
                             this report.......................

<TABLE>
<CAPTION>
Exhibit No.    Page    Description
               No.
<S>            <C>     <C>
2.1            -*-     Plan  of  Reorganization  and  Change  of  Situs  by  which  Titan  Energy  Corp.,  and  Power
                       Exploration, Inc. Changes Its Place of Incorporation

2.2            -*-     Agreement and Plan of Merger Between Power  Exploration,  Inc. (Nevada) and Power Exploration,
                       Inc. (Colorado) . August 1, 1998

2.3            -*-     Articles of  Incorporator.  Election of Officers  and  Directors  of Power  Exploration,  Inc.
                       (Nevada) . May 31, 1998

2.4            -*-     Action by Incorporator. Election of Officers and Directors of Power Exploration,  Inc.(Nevada)
                       . May 1998

2.5            -*-     Special Action by the Executive  Committee of Power  Exploration,  Inc. dated January 11, 1999
                       (Incorporated  herein by reference  from Exhibits to the Company's  Form 8-K field January 19,
                       1999)

3.1            -*-     Articles of Incorporation of Imperial Energy dated October 31, 1979

3.2            -*-     Amendment to Articles of Incorporation dated June 26, 1984

3.3            -*-     Amendment to Articles of Incorporation dated September 25, 1996

3.4            -*-     Minutes of Special  Shareholders  Meeting Changing Name to Oil Retrieval  Systems,  Inc. dated
                       May 14, 1997

3.5            -*-     Amendment to Articles of  Incorporation  dated June 15, 1997,  Changing  Name to Oil Retrieval
                       Systems, Inc

3.6            -*-     By Laws of the Corporation

3.7            -*-     Articles of Incorporation of Power Exploration, Inc. (Nevada) dated May 14, 1998

3.8            -*-     By Laws of Power Exploration, Inc. (Nevada dated June 1, 1998

10.1           -*-     Convertible Debenture with Venture Resources, Inc. dated July 1, 2005.

21.1           *       Subsidiaries of the Issuer

31.1           13      Written  Statement  of Chief  Executive  Officer and Chief  Financial  Officer with respect to
                       compliance with Section 302 of the Sarbanes-Oxley Act of 2002.

32.2           14      Written  Statement  of Chief  Executive  Officer and Chief  Financial  Officer with respect to
                       compliance  with Section  13(a) or 15(d) of the  Securities  Exchange Act of 1934 and pursuant
                       to 18 U.S.C. ss.1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002
</TABLE>

-*- Previously filed and incorporated herein by reference from the Form 10-KSB
field January 14, 2000 by the Company.


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned authorized officer.


Dated: August 14, 2007     Matrix Energy Services Corporation.

                           By: /s/ James Anderson
                               --------------------------------
                                 James Anderson

                                       11