| Colorado                                                       | 84-1508638                                 |
|----------------------------------------------------------------|--------------------------------------------|
| (State or Other Jurisdiction of Incorporation or Organization) |  (I.R.S. Employer Identification No.) |
|                                                           |                                       |
|                                                           |                                       |
| P.O. Box 141 Westminster, Colorado                             | 80036                                      |
| (Address of Principal Executive Offices)                       | (Zip Code)                                 |

| LargeAccelerated Filer r |   | AcceleratedFiler r |   | Non-Accelerated Filer r (Do not check if a smaller reporting company) |   | Smaller ReportingCompany þ |
|--------------------------|--------|--------------------|--------|----------------------------------------------------------------------------|--------|---------------------------------|

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|   | Part 1 - Financial Information                                                |   Page |   |
|--------|-------------------------------------------------------------------------------|-------------|--------|
|   |                                                                          |        |   |
|   | Item 1 - Financial Statements (Unaudited)                                     |   3    |   |
|   |                                                                          |        |   |
|   | Item 2 - Management’s Discussion and Analysis and Results of Operations |  10    |   |
|   |                                                                          |        |   |
|   | Item 3 - Quantitative and Qualitative Disclosures about Market Risk           |   12   |   |
|   |                                                                          |        |   |
|   | Item 4 - Controls and Procedures                                              |   13   |   |
|   |                                                                          |        |   |
|   | Part 2 - Other Information                                                    |        |   |
|   |                                                                          |        |   |
|   | Item 1 - Legal Proceedings                                                    |  13    |   |
|   |                                                                          |        |   |
|   | Item 2 - Sales of Unregistered Equity Securities and Use of Proceeds          |   13   |   |
|   |                                                                          |        |   |
|   | Item 3 - Defaults upon Senior Securities                                      |   13   |   |
|   |                                                                          |        |   |
|   | Item 4 - Submission of Matters to a Vote of Security Holders                  |   13   |   |
|   |                                                                          |        |   |
|   | Item 5 - Other Information                                                    |   13   |   |
|   |                                                                          |        |   |
|   | Item 6 - Exhibits                                                             |   14   |   |

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|                                                                                      |   |         |        |   |      |   |
|-------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|-----------|--------|
|                                                                                      |   | December 31, |        |   | March 31, |   |
| ASSETS                                                                                    |   | 2010         |        |   | 2011      |   |
| Current assets                                                                            |   |         |        |   |      |   |
|     Cash and cash equivalents                                         |   | $            | 15,990      |   |      | $      | 322,244 |   |
|     Prepaid expenses                                                  |   |         | 523,611     |   |      |   | 591,319 |   |
|     Revenue receivable                                                |   |         | 12,625      |   |      |   | 8,717 |   |
| Total current assets                                                                      |   |         | 552,226     |   |      |   | 922,280 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Furniture and equipment, at cost net of accumulated                                       |   |         |        |   |      |   |   |   |
|     depreciation of $173,076(2010) and $195,186(2011)                 |   |         | 277,736     |   |      |   | 266,681 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   | $            | 829,962     |   |      | $      | 1,188,961 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                     |   |         |        |   |      |   |   |   |
| Current liabilities                                                                       |   |         |        |   |      |   |   |   |
|     Accounts payable                                                  |   | $            | 604,271     |   |      | $      | 569,471 |   |
|     Accrued expenses                                                  |   |         | 267,373     |   |      |   | 299,517 |   |
|     Accrued payroll taxes                                             |   |         | 111,690     |   |      |   | 111,690 |   |
|     Contracts payable                                                 |   |         | 975,000     |   |      |   | 1,175,000 |   |
|     Notes payable & advances related parties                      |   |         | 704,475     |   |      |   | 1,319,509 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Total current liabilities                                                                 |   |         | 2,662,809   |   |      |   | 3,475,186 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Stockholders' deficit                                                                     |   |         |        |   |      |   |   |   |
|     Convertible Class A preferred stock; $10 face value,              |   |         |        |   |      |   |   |   |
|       1,000,000 shares authorized                           |   |         |        |   |      |   |   |   |
|       Series 1, 30,000 shares authorized, 0 (2010)          |   |         |        |   |      |   |   |   |
|       and 0 (2011) shares issued and outstanding            |   |         | -           |   |      |   | - |   |
|       Series 2, 25,000 shares authorized, 0 (2010)          |   |         |        |   |      |   |   |   |
|       and 0 (2011) shares issued and outstanding            |   |         | -           |   |      |   | - |   |
|     Common stock, no par value; 499,000,000 shares                    |   |         |        |   |      |   |   |   |
|       authorized, 497,155,754 (2010) and 497,155,754 (2011) |   |         |        |   |      |   |   |   |
|       shares issued and outstanding                         |   |         | 13,611,903  |   |      |   | 13,611,903 |   |
|     Accumulated deficit                                               |   |         | (15,444,750 | )      |      |   | (15,898,428 | ) |
|                                                                                      |   |         |        |   |      |   |   |   |
| Total stockholders' deficit                                                               |   |         | (1,832,847  | )      |      |   | (2,286,525 | ) |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   | $            | 829,962     |   |      | $      | 1,188,661 |   |

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|                                               |   | 2010   |        |   | 2011   |   |
|----------------------------------------------------|--------|--------|-------------|--------|--------|--------|
| Revenues                                           |   |   |        |   |   |   |
|    Oil & gas revenue            |   | $      | 58,393      |   |   | $      | 29,656 |   |
|    Other income                     |   |   | -           |   |   |   | - |   |
|                                               |   |   |        |   |   |   |   |   |
| Total revenues                                     |   |   | 58,393      |   |   |   | 29,656 |   |
|                                               |   |   |        |   |   |   |   |   |
| Operating expenses                                 |   |   |        |   |   |   |   |   |
|    Oil & gas operating expenses |   |   | 85,506      |   |   |   | 67,754 |   |
|    Depreciation                     |   |   | 11,055      |   |   |   | 11,055 |   |
|    Rent                             |   |   | 807         |   |   |   | 1,187 |   |
|    Other operating expenses         |   |   | 163,194     |   |   |   | 391,734 |   |
|                                               |   |   |        |   |   |   |   |   |
| Total operating expenses                           |   |   | 260,562     |   |   |   | 471,730 |   |
|                                               |   |   |        |   |   |   |   |   |
| Net loss from operations                           |   |   | (202,169    | )      |   |   | (442,074 | ) |
|                                               |   |   |        |   |   |   |   |   |
| Other income (expense):                            |   |   |        |   |   |   |   |   |
|     Interest expense           |   |   | (11,798     | )      |   |   | (11,745 | ) |
|     Interest income            |   |   | -           |   |   |   | 141 |   |
|                                               |   |   |        |   |   |   |   |   |
| Total other income (expense)                       |   |   | (11,798     | )      |   |   | (11,604 | ) |
|                                               |   |   |        |   |   |   |   |   |
|                                               |   |   |        |   |   |   |   |   |
| Net income (loss)                                  |   | $      | (213,967    | )      |   | $      | (453,678 | ) |
|                                               |   |   |        |   |   |   |   |   |
| Basic and diluted loss per share                   |   |   | *           |   |   |   | * |   |
|                                               |   |   |        |   |   |   |   |   |
|                                               |   |   |        |   |   |   |   |   |
| Weighted average common shares outstanding         |   |   | 493,000,000 |   |   |   | 497,000,000 |   |

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|                                   |   | Common Stock Shares |        |   | Amount |   |       | Accumulated Deficit |   |   | Total       |   |
|----------------------------------------|--------|---------------------|-------------|--------|--------|--------|------------|---------------------|--------|--------|-------------|--------|
| Balance at December 31, 2010           |   |                | 497,155,754 |   |   | $      | 13,611,903 |                |   | $      | (15,444,750 | )      |   | $ | (1,832,847 | ) |
|                                   |   |                |        |   |   |   |       |                |   |   |        |   |   |   |   |   |
|      Net loss |   |                |        |   |   |   |       |                |   |   | (453,678    | )      |   |   | (453,678 | ) |
|                                   |   |                |        |   |   |   |       |                |   |   |        |   |   |   | - |   |
| Balance at March 31, 2011              |   |                | 497,155,754 |   |   | $      | 13,611,903 |                |   | $      | (15,898,428 | )      |   | $ | (2,286,525 | ) |

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|                                                                                                             |   |   |     |   |   |   |
|------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
|                                                                                                             |   |   |     |   |   |   |
|                                                                                                             |   |   |     |   |   |   |
|                                                                                                             |   |   |     |   |   |   |
|                                                                                                             |   | 2010   |     |   | 2011   |   |
|                                                                                                             |   |   |     |   |   |   |
| Cash flows from operating activities:                                                                            |   |   |     |   |   |   |
|     Net (loss) income                                                                        |   | $      | (213,967 | )      |   | $      | (453,678 | ) |
|     Adjustments to reconcile net loss to net                                                 |   |   |     |   |   |   |   |   |
|       cash used in operating activities:                                           |   |   |     |   |   |   |   |   |
|           Depreciation and amortization                        |   |   | 11,055   |   |   |   | 11,055 |   |
|           Stock  and options issued for services and |   |   |     |   |   |   |   |   |
|             interest on notes                        |   |   | -        |   |   |   | - |   |
|           Non cash compensation for services                   |   |   | 92,014   |   |   |   | 132,292 |   |
|          Changes in assets and liabilities:                         |   |   |     |   |   |   |   |   |
|             Accounts receivable                      |   |   | 5,321    |   |   |   | 3,908 |   |
|             Accounts payable                         |   |   | 71,214   |   |   |   | (34,800 | ) |
|             Accrued expenses                         |   |   | 41,565   |   |   |   | 32,423 |   |
| Total adjustments                                                                                                |   |   | 221,169  |   |   |   | 144,878 |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Net cash used in operating activities                                                                            |   |   | 7,202    |   |   |   | (308,800 | ) |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Cash flows from investing activities:                                                                            |   |   |     |   |   |   |   |   |
|      Purchase of property and equipment                                                 |   |   | -        |   |   |   | - |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Net cash used in investing activities                                                                            |   |   | -        |   |   |   | - |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Cash flows from financing activities:                                                                            |   |   |     |   |   |   |   |   |
|      Reciept of advances - related parties                                              |   |   | -        |   |   |   | 620,000 |   |
|      Payment of advances - related parties                                              |   |   | -        |   |   |   | (4,966 | ) |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Net cash provided by financing activities                                                                        |   |   | -        |   |   |   | 615,034 |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                                                             |   |   | 7,202    |   |   |   | 306,234 |   |
| Cash and cash equivalents at beginning of period                                                                 |   |   | 16,764   |   |   |   | 15,990 |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                                       |   | $      | 23,966   |   |   | $      | 322,224 |   |
|                                                                                                             |   |   |     |   |   |   |   |   |
| Supplemental disclosure of cash flow information:                                                                |   |   |     |   |   |   |   |   |
|                                                                                                             |   |   | 2010     |   |   |   | 2011 |   |
|     Interest paid during the period                                                          |   | $      | -        |   |   | $      | 13,438 |   |
|     Income taxes paid during the period                                                      |   | $      | -        |   |   | $      | - |   |

|                                                                                                                                                              |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Supplemental disclosure of non-cash investing and financing activities:                                                                                           |
|     During the year ended March 31, 2011 had non-cash expenses for contracts with consultants                                                 |
|            and contracts of $723,611 of which $ 132,292 were expensed leaving $591,319 in prepaid expenses |
|      During the quarter ended March 31, 2011 wages to officers and directors and fees to                                                 |
|         consultants of $0 were paid by the issuance of common stock                                                       |
|     During the year ended March 31, 2010 had non-cash expenses for contracts with consultants                                                 |
|            and contracts of $972,350 of which $ 92,014 were expensed leaving 880,336 in prepaid expenses   |
|      During the quarter ended March 31, 2010 wages to officers and directors and fees to                                                 |
|         consultants of $0 were paid by the issuance of common stock                                                       |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | 2010   |    |   | 2011   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|           Advances – Donald Prosser (2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $      | 220,000 |   |   | $      | 220,000 |   |
|           Advances – Donald Prosser (3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 4,290   |   |   |   | 4,290 |   |
|           Advances – Donald Prosser (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 215,000 |   |   |   | 735,000 |   |
|            Advances -    John Herzog (1)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   | --      |   |   |   | 100,000 |   |
|           Advances – Charles Gamber (3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 4,966   |   |   |   | -- |   |
|           Advances – William Stewart (3)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 20,219  |   |   |   | 20,219 |   |
|           Advances – William Stewart (2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | 75,000  |   |   |   | 75,000 |   |
|           Advances – Charles Davis (2)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 125,000 |   |   |   | 125,000 |   |
|           Advances – Charles Davis (2)                                                                                  |   |   | 40,000  |   |   |   | 40,000 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |   |    |   |   |   |   |   |
| Balances                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | $      | 704,475 |   |   | $      | 1,319,509 |   |

| (1) | Donald W. Prosser pledged 73,500,000 shares of his Common stock to individuals in exchange for a loan of $735,000 with no interest due in May 2011. The advance was used as working capital. John Herzog pledged 10,000,000 shares of his Common stock to individuals in exchange for a loan of $100,000 with no interest due in May 2011. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | $460,000 of the advances bear interest at 9.6% per annum.                                                                                                                                                                                                                                                                                  |
| (3) | $29,475 of the advances bear interest at 8.0% per annum.                                                                                                                                                                                                                                                                                   |

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| 31.1 | Certification of CEO pursuant to Rule 13a-14(a)  or 15d-14(a) of the Exchange Act pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.2 | Certification of CFO pursuant to Rule 13a-14(a)  or 15d-14(a) of the Exchange Act pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. |
| 32.1 | Certification of CEO 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 CFRO pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes Oxley Act of 2002.                         |

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| By:    | /s/ Donald W Prosser, CEO                          |
|-----------------------|----------------------------------------------------|
|                  | Donald W Prosser, Principal Executive Officer      |
|                  | Dated: May 13, 2011                                |
|                  |                                               |
|                  |                                               |
| By:    | /s/ John Herzog, Interim CFO                       |
|                  | John Herzog                                        |
|                  | Interim Principal Financial and Accounting Officer |
|                  | Dated: May 13, 2011                                |

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