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: December 31, 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 January 18, 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 December 31, 2006 and the results of its operations and
changes in its financial position from September 30, 2006 through December 31,
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>
                                                                                December 31,
                                                                                    2006               September 30,
                                                                               (Unaudited)                 2006
                                                                              -------------------    ------------------
Current Assets
<S>                                                                           <C>                    <C>
      Cash                                                                    $                 -    $                -
                                                                              -------------------    ------------------
            Total Current Assets                                              $                 -    $                -
                                                                              ===================    ==================

                     Liabilities and Stockholders' (Deficit)

Current Liabilities
      Accounts Payable and Accrued Expenses                                   $             8,070    $          195,402
      Accrued Interest Payable                                                             32,730                26,499
      Notes Payable                                                                       253,319               245,604
                                                                              -------------------    ------------------
            Total Current Liabilities                                                     294,119               467,505
                                                                              -------------------    ------------------
Commitments and Contingencies                                                                   -                     -
                                                                              -------------------    ------------------

Stockholders'  (Deficit)
      Common Stock; $.002 Par Value; 500,000,000
          Shares Authorized;  92,667,217 Shares Issued and
          Outstanding December 31, 2006 and September
          30, 2006                                                                        185,334               185,334
      Additional Paid-In Capital                                                       46,740,082            46,740,082
      Retained Deficit                                                                (47,219,535)          (47,392,921)
                                                                              -------------------    ------------------
            Total Stockholders'(Deficit)                                                 (294,119)             (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 Ended
                                                                                    December 31,
                                                                             2006                   2005
                                                                       --------------------   -----------------
<S>                                                                    <C>                    <C>
REVENUE                                                                $                  -   $               -
                                                                       --------------------   -----------------

EXPENSES
     General & Administrative                                                           789               5,678
     Interest                                                                         6,231               5,311
                                                                       --------------------   -----------------
          Total Expenses                                                              7,020              10,989
                                                                       --------------------   -----------------
          Loss Before Other Income (Expenses) and
              Income Taxes                                                           (7,020)            (10,989)

OTHER INCOME (EXPENSES)

     Gain on Settlement of Debt                                                     180,406                   -
                                                                       --------------------   -----------------
         Income (Loss) Before Income Taxes                                          173,386             (10,989)

  INCOME TAXES                                                                            -                   -
                                                                       --------------------   -----------------
        NET INCOME (LOSS)                                              $            173,386   $         (10,989)
                                                                       ====================   =================

WEIGHTED AVERAGE NUMBER OF SHARES
            OUTSTANDING                                                          92,667,217          92,667,217
                                                                       ====================   =================
NET INCOME (LOSS) PER SHARE:                                           $               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 Three Months Ended
                                                                                     December 31,        December 31,
                                                                                         2006                2005
                                                                                     ----------------   ---------------
Cash Flows from Operating Activities:
<S>                                                                                  <C>                <C>
       Net Income (Loss)                                                             $        173,386   $       (10,989)
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:
       Accrued Interest                                                                         6,231
       Accounts Payable and Accrued Expenses                                                   (6,926)           10,989
                                                                                     ----------------   ---------------
              Net Cash Provided (Used) by Operating Activities                                 (7,715)                -
                                                                                     ----------------   ---------------
Cash Flows from Investing Activities
              Net Cash Provided (Used) by Investing Activities                                      -                 -
                                                                                     ----------------   ---------------
Cash Flows from Financing Activities
       Notes Payable Borrowings                                                                 7,715                 -
                                                                                     ----------------   ---------------
              Net Cash Provided By Financing Activities                                         7,715                 -
                                                                                     ----------------   ---------------
(Decrease) in Cash                                                                                  -                 -
Cash, Beginning of Period                                                                           -               212
                                                                                     ----------------   ---------------
Cash, End of Period                                                                  $              -   $           212
                                                                                     ================   ===============
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>



                       Matrix Energy Services Corporation
                        Notes to the Financial Statements
                                December 31, 2006

NOTE 1  - Interim Financial Statements

The financial statements for the three months ended December 31, 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 December 31, 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, 2006 audited financial statements. The results of
operations for the periods ended December 31, 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
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

                                       -8-

<PAGE>



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 December 31, 2006, 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 December 31,
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 $789 for the three months
ended December 31, 2006 compared to $5,678 for the same period in 2005.
Management anticipates expenses to remain similar in future quarters with the
cessation of business operations.

Gross Loss

         Income (Loss) for the three months ended December 31, 2006, were
$173,386 compared to $(10,989) for the same period in 2005. The increase in
income was due to the settlement of an accounts payable and has been reflected
in that portion of the financial statements

Liquidity and Capital Resources

         At December 31, 2006, 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 $294,119 at December 31, 2006 compared to a working
capital deficit of $467,505 at September 30, 2006 shows a decrease in working
capital deficit of $173,386 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 $294,119 as of December 31,
2006, compared to $467,505 at year-end on September 30, 2006. This increase 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 December 31, 2006, have concluded that the
Company's disclosure controls over financial reporting and procedures are
adequate and effective as of December 31, 2006 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 period covered by this report
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

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
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


                                      -11-

<PAGE>



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

-*- 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: February 13,  2006     Matrix Energy Services Corporation.

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



                                      -12-