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, 2006

                        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 July 17, 2006




<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, 2006 and the results of its operations and changes
in its financial position from September 30, 2005 through June 30, 2006 have
been made. The results of its operations for such interim period is 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,
                                                                                   2006               September 30,
                                                                                (Unaudited)               2005
                                                                             -----------------      ------------------
Current Assets
<S>                                                                          <C>                    <C>
     Cash                                                                    $               -      $              212
                                                                             -----------------      ------------------
         Total Current Assets                                                $               -      $              212
                                                                             =================      ==================

         Liabilities and Stockholders' Equity

Current Liabilities
     Accounts Payable and Accrued Expenses                                   $         193,692      $          175,034
     Accrued Interest Payable                                                           21,071                   5,311
     Notes Payable                                                                     210,750                 210,750
                                                                             -----------------      ------------------
          Total Current Liabilities                                                    425,513                 391,095
                                                                             -----------------     -------------------
Commitments and Contingencies                                                                -                       -
-----------------------------
Stockholders'  (Deficit)
 Common Stock; $.002 Par Value; 500,000,000
Shares Authorized;  92,667,217 Shares Issued and
  Outstanding June 30, 2006 and September 30, 2005                                     185,334                 185,334
   Additional Paid-In Capital                                                       46,740,082              46,740,082
   Retained Deficit                                                                (47,350,930)            (47,316,299)
                                                                             -----------------      ------------------
          Total Stockholders'(Deficit)                                                (425,513)               (390,883)
                                                                             -----------------      ------------------
             Total Liabilities & Stockholders' (Deficit)                     $               -      $              212
                                                                             =================      ==================
</TABLE>





              The accompanying notes are an integral part of these
                             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,
                                                      2006              2005              2006               2005
                                                    -------------    -------------       ------------     --------------
<S>                                                 <C>              <C>                 <C>              <C>
REVENUE                                             $           -    $           -       $          -     $            -
                                                    -------------    -------------       ------------     --------------

EXPENSES
    General & Administrative                                5,370            8,100             18,870             31,137
    Interest                                                5,253                -             15,760                  -
                                                    -------------    -------------       ------------     --------------
      Total Expenses                                       10,623            8,100             34,630             31,137
                                                    -------------    -------------       ------------     --------------
      Loss Before Other Income
(Expenses) and Income Taxes                               (10,623)          (8,100)           (34,630)           (31,137)
Other Income (Expenses)
     Loss Before Income Taxes                             (10,623)          (8,100)           (34,630)           (31,137)
  Income Taxes                                                  -                -                  -                  -
                                                    -------------    -------------       ------------     --------------
        Net Loss                                    $     (10,623)   $      (8,100)      $    (34,630)    $      (31,137)
                                                    =============    =============       ============     ==============
Weighted Average Number Of
Shares Outstanding                                     92,667,217       92,667,217         92,667,217         92,667,217
                                                    =============    =============       ============     ==============
Net (Loss) Per Share:                               $       (0.00)   $       (0.00)      $      (0.00)    $        (0.00)
                                                    =============    =============       ============     ==============

</TABLE>






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

                                       -5-

<PAGE>



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

<TABLE>
<CAPTION>
                                                                                     For the Nine Months Ended June 30,
                                                                                      2006                      2005
                                                                                ----------------          --------------
Cash Flows from Operating Activities:
<S>                                                                             <C>                       <C>
       Net (Loss)                                                               $        (34,630)         $      (31,137)
Adjustments to Reconcile Net (Loss) to Net Cash
From Operating Activities:
Changes in Operating Assets and Liabilities:
       Accounts Payable - Related Parties                                                      -                   10,750
       Accrued Interest Payable                                                           15,760                        -
       Accounts Payable and Accrued Expenses                                              18,658                   18,962
                                                                                ----------------          --------------
            Net Cash Provided (Used) by Operating
            Activities                                                                      (212)                 (1,425)
                                                                                ----------------          --------------
Cash Flows from Investing Activities
            Net Cash Provided (Used) by Investing
            Activities                                                                         -                       -
                                                                                ----------------          --------------
Cash Flows from Financing Activities
       Notes Payable Borrowings                                                                -                       -
                                                                                ----------------          --------------
            Net Cash Provided By Financing Activities                                          -                       -
                                                                                ----------------          --------------
            (Decrease) in Cash                                                              (212)                 (1,425)
            Cash, Beginning of Period                                                        212                   1,673
                                                                                ----------------          --------------
            Cash, End of Period                                                 $              -          $          248
                                                                                ================          ==============
Supplemental Schedule of Cash Flow Information
       Cash Paid During the Year For:
       Interest Paid                                                            $              -          $            -
                                                                                ================          ==============
       Income Taxes                                                             $              -          $            -
                                                                                ================          ==============
</TABLE>



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

                                       -6-

<PAGE>



                       Matrix Energy Services Corporation.
                        Notes to the Financial Statements
                                  June 30, 2006

NOTE 1  - Interim Financial Statements

The financial statements for the three months ended June 30, 2006 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, 2006. 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, 2005 audited financial statements. The results of
operations for the period ended June 30, 2006 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.

Forward Looking Statements

         The information herein contains certain forward-looking statements.
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 continue its expansion strategy, changes
in the real estate markets, labor and employee benefits, as well as general
market conditions, competition, and pricing. 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.

                                       -8-

<PAGE>






General

         During the quarter ending June 30, 2006, the Company continued to
pursue potential business opportunities and possible acquisition targets in
order to generate 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, 2006
and 2005. There have been no revenues since September 2004 due to the
termination of operations.

Costs and Expenses

         General and administrative expenses were $5,370 for the three months
ended June 30, 2006 compared to $8,100 for the same period in 2005. All
operations have been terminated and management anticipates expenses to remain
the same. Management is now investigating other possibilities and business
opportunities to pursue.

         So far management has not determined a business or direction to
proceed. 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.



                                       -9-

<PAGE>



Gross Loss

         Losses for the three months ended June 30, 2006, were $10,623 compared
to $8,100 for the same period in 2005. Management anticipates continued losses
until new business is developed.

Liquidity and Capital Resources

         At June 30, 2006, the Company has no liquid assets. The balance of cash
was used to pay expenses. The Company's working capital deficit of $425,513 at
June 30, 2006 compared to a working capital deficit of $390,883 at September 30,
2005 shows an increase in working capital deficit of $34,630 for the year to
date from the figure for the year ended September 30, 2005. The working capital
deficit was increased by borrowing to pay general and administrative expenses
and by current amounts payable to non-related parties for filing related
expenses.

         Stockholders deficit in the Company was $425,513 as of June 30, 2006,
compared to $390,883 at year-end on September 30, 2005. This decrease is due to
general and administrative expenses and a lack of revenue.

         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.




                                      -10-

<PAGE>



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, 2006, have concluded that the
Company's disclosure controls over financial reporting and procedures are
adequate and effective as of June 30, 2006 for the purposes set forth in the
definition in Exchange Act rules.

         (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 6.  Exhibits and Reports on Form 8-K

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

Exhibit  Page   Description
No.      No.
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


                                   -11-

<PAGE>




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     **     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     **     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

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

** Filed as Exhibits with Form 10QSB.



                                   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 3,  2006          Matrix Energy Services Corporation.

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



                                      -12-