| 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 [] |   | AcceleratedFiler [] |   | Non-Accelerated Filer [] (Do not check if a smaller reporting company) |   | Smaller ReportingCompany [X] |
|---------------------------|--------|---------------------|--------|----------------------------------------------------------------------------------|--------|------------------------------|

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|   | Part 1 - Financial Information                                                |      |   |
|--------|-------------------------------------------------------------------------------|-----------|--------|
|   |                                                                          |      |   |
|   | 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           |   13 |   |
|   |                                                                          |      |   |
|   | 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                                                    |   14 |   |
|   |                                                                          |      |   |
|   | Item 6 - Exhibits                                                             |   15 |   |

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|                                                                                      |   | December 31, |        |   | March 31, |   |
|-------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|-----------|--------|
| ASSETS                                                                                    |   | 2009         |        |   | 2010      |   |
| Current assets                                                                            |   |         |        |   |      |   |
|     Cash and cash equivalents                                         |   | $            | 16,764      |   |      | $      | 23,966 |   |
|     Prepaid expenses                                                  |   |         | -           |   |      |   | 882,986 |   |
|     Revenue receivable                                                |   |         | 21,693      |   |      |   | 16,372 |   |
| Total current assets                                                                      |   |         | 38,457      |   |      |   | 923,324 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Furniture and equipment, at cost net of accumulated                                       |   |         |        |   |      |   |   |   |
|     depreciation of $139,902(2009) and $150,957(2010)                 |   |         | 321,965     |   |      |   | 310,910 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   | $            | 360,422     |   |      | $      | 1,234,234 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                     |   |         |        |   |      |   |   |   |
| Current liabilities                                                                       |   |         |        |   |      |   |   |   |
|     Accounts payable                                                  |   | $            | 493,719     |   |      | $      | 564,933 |   |
|     Accrued expenses                                                  |   |         | 145,754     |   |      |   | 187,319 |   |
|     Accrued payroll taxes                                             |   |         | 233,559     |   |      |   | 233,559 |   |
|     Advances and stock loans                                          |   |         | -           |   |      |   | 975,000 |   |
|     Notes payable & advances related parties                      |   |         | 492,125     |   |      |   | 492,125 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Total current liabilities                                                                 |   |         | 1,365,157   |   |      |   | 2,452,936 |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Stockholders' deficit                                                                     |   |         |        |   |      |   |   |   |
|     Convertible Class A preferred stock; $10 face value,              |   |         |        |   |      |   |   |   |
|       1,000,000 shares authorized                           |   |         |        |   |      |   |   |   |
|       Series 1, 30,000 shares authorized, 0 (2009)          |   |         |        |   |      |   |   |   |
|       and 0 (2010) shares issued and outstanding            |   |         | -           |   |      |   | - |   |
|       Series 2, 25,000 shares authorized, 0 (2009)          |   |         |        |   |      |   |   |   |
|       and 0 (2010) shares issued and outstanding            |   |         | -           |   |      |   | - |   |
|     Common stock, no par value; 499,000,000 shares                    |   |         |        |   |      |   |   |   |
|       authorized, 493,155,754 (2009) and 493,155,754 (2010) |   |         | 13,587,403  |   |      |   | 13,587,403 |   |
|       shares issued and outstanding                         |   |         |        |   |      |   |   |   |
|     Accumulated deficit                                               |   |         | (14,592,138 | )      |      |   | (14,806,105 | ) |
|     Notes receivable from sale of stock                               |   |         | -           |   |      |   | - |   |
|                                                                                      |   |         |        |   |      |   |   |   |
| Total stockholders' deficit                                                               |   |         | (1,004,735  | )      |      |   | (1,218,702 | ) |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   |         |        |   |      |   |   |   |
|                                                                                      |   | $            | 360,422     |   |      | $      | 1,234,234 |   |

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|                                                |   | 2009   |        |   | 2010   |   |
|-----------------------------------------------------|--------|--------|-------------|--------|--------|--------|
| Revenues                                            |   |   |        |   |   |   |
|    Oil & gas revenue             |   | $      | 34,072      |   |   | $      | 58,393 |   |
|    Other income                      |   |   | -           |   |   |   | - |   |
|                                                |   |   |        |   |   |   |   |   |
| Total revenues                                      |   |   | 34,072      |   |   |   | 58,393 |   |
|                                                |   |   |        |   |   |   |   |   |
| Operating expenses                                  |   |   |        |   |   |   |   |   |
|    Oil & gas operating expenses  |   |   | 55,951      |   |   |   | 85,506 |   |
|    Depreciation                      |   |   | 11,055      |   |   |   | 11,055 |   |
|    Rent                              |   |   | 1,331       |   |   |   | 807 |   |
|    Other operating expenses          |   |   | 20,494      |   |   |   | 163,194 |   |
|                                                |   |   |        |   |   |   |   |   |
| Total operating expenses                            |   |   | 88,831      |   |   |   | 260,562 |   |
|                                                |   |   |        |   |   |   |   |   |
| Net loss from operations                            |   |   | (54,759     | )      |   |   | (202,169 | ) |
|                                                |   |   |        |   |   |   |   |   |
| Other income (expense):                             |   |   |        |   |   |   |   |   |
|     Loss on sale of investments |   |   | -           |   |   |   | - |   |
|     Extinguishment of debt      |   |   | -           |   |   |   | - |   |
|     Interest expense            |   |   | (11,798     | )      |   |   | (11,798 | ) |
|     Interest income             |   |   | -           |   |   |   | - |   |
|                                                |   |   |        |   |   |   |   |   |
| Total other income (expense)                        |   |   | (11,798     | )      |   |   | (11,798 | ) |
|                                                |   |   |        |   |   |   |   |   |
|                                                |   |   |        |   |   |   |   |   |
| Net income (loss)                                   |   | $      | (66,557     | )      |   | $      | (213,967 | ) |
|                                                |   |   |        |   |   |   |   |   |
| Basic and diluted loss per share                    |   |   | *           |   |   |   | * |   |
|                                                |   |   |        |   |   |   |   |   |
|                                                |   |   |        |   |   |   |   |   |
| Weighted average common shares outstanding          |   |   | 493,000,000 |   |   |   | 493,000,000 |   |

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|                                                                         |   |                |        |   |   |   |       |                |   |   |        |   |
|------------------------------------------------------------------------------|--------|---------------------|-------------|--------|--------|--------|------------|---------------------|--------|--------|-------------|--------|
|                                                                         |   |                |        |   |   |   |       |                |   |   |        |   |
|                                                                         |   |                |        |   |   |   |       |                |   |   |        |   |
|                                                                         |   | Common Stock Shares |        |   | Amount |   |       | Accumulated Deficit |   |   | Total       |   |
|                                                                         |   |                |        |   |   |   |       |                |   |   |        |   |
| Balance at December 31, 2009                                                 |   |                | 493,155,754 |   |   | $      | 13,587,403 |                |   | $      | (14,592,138 | )      |   | $ | (1,004,735 | ) |
|     Issuance of common stock to directors                |   |                |        |   |   |   |       |                |   |   |        |   |   |   |   |   |
|         and consultants for services |   |                | -           |   |   |   | -          |                |   |   |        |   |   |   | - |   |
|      Net loss                                       |   |                |        |   |   |   |       |                |   |   | (213,967    | )      |   |   | (213,967 | ) |
| Balance at March 31, 2010                                                    |   |                | 493,155,754 |   |   | $      | 13,587,403 |                |   | $      | (14,806,105 | )      |   | $ | (1,218,702 | ) |

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|                                                                                                              |   | 2009   |    |   | 2010   |   |
|-------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                                              |   |   |    |   |   |   |
| Cash flows from operating activities:                                                                             |   |   |    |   |   |   |
|     Net (loss) income                                                                         |   | $      | (66,557 | )      |   | $      | (213,967 | ) |
|     Adjustments to reconcile net loss to net                                                  |   |   |    |   |   |   |   |   |
|       cash used in operating activities:                                            |   |   |    |   |   |   |   |   |
|           Depreciation and amortization                         |   |   | 11,054  |   |   |   | 11,055 |   |
|           Stock  and options issued for services and  |   |   |    |   |   |   |   |   |
|             interest on notes                         |   |   | 10,000  |   |   |   | - |   |
|          Changes in assets and liabilities:                          |   |   |    |   |   |   |   |   |
|             Accounts receivable                       |   |   | (6,962  | )      |   |   | 5,321 |   |
|             Prepaid expense                           |   |   | -       |   |   |   | (882,986 | ) |
|             Advances                                  |   |   | 30,000  |   |   |   | - |   |
|             Accounts payable                          |   |   | 7,777   |   |   |   | 71,214 |   |
|             Advances and stock loans                  |   |   | -       |   |   |   | 975,000 |   |
|             Accrued expenses                          |   |   | 15,881  |   |   |   | 41,565 |   |
| Total adjustments                                                                                                 |   |   | 67,750  |   |   |   | 221,169 |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| Net cash used in operating activities                                                                             |   |   | 1,193   |   |   |   | 7,202 |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| 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                                               |   | $      | -       |   |   | $      | - |   |
|      Payment of advances - related parties                                               |   |   | -       |   |   |   | - |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| Net cash provided by financing activities                                                                         |   |   | -       |   |   |   | - |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents                                                              |   |   | 1,193   |   |   |   | 7,202 |   |
| Cash and cash equivalents at beginning of period                                                                  |   |   | 23,904  |   |   |   | 16,764 |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                                        |   | $      | 25,097  |   |   | $      | 23,966 |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| Supplemental disclosure of cash flow information:                                                                 |   |   |    |   |   |   |   |   |
|                                                                                                              |   |   | 2009    |   |   |   | 2010 |   |
|     Interest paid during the period                                                           |   | $      | -       |   |   | $      | - |   |
|     Income taxes paid during the period                                                       |   | $      | -       |   |   | $      | - |   |
|                                                                                                              |   |   |    |   |   |   |   |   |
| Supplemental disclosure of non-cash investing and financing activities:                                           |   |   |    |   |   |   |   |   |
|      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       |   |   |    |   |   |   |   |   |
|      During the quarter ended March 31, 2009 wages to officers and directors and fees to |   |   |    |   |   |   |   |   |
|         consultants of $10,000 were paid by the issuance of common stock  |   |   |    |   |   |   |   |   |

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|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 2009    |   |   |    | 2010    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|---------|---------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |    |   |   |    |    |   |
|           Advances – Donald Prosser                                                                                                                                                                                                                                                                                                                                                                |   | $      | 200,000 |   |   | $  | 200,000 |   |
|           Advances – Donald Prosser                                                                                                                                                                                                                                                                                                                                                                |   |   | 24,290  |   |   |    | 24,290  |   |
|           Advances – Charles Gamber                                                                                                                                                                                                                                                                                                                                                                |   |   | 4,966   |   |   |    | 4,966   |   |
|           Advances – William Stewart                                                                                                                                                                                                                                                                                                                                                               |   |   | 20,219  |   |   |    | 20,219  |   |
|           Advances – William Stewart                                                                                                                                                                                                                                                                                                                                                               |   |   | 75,000  |   |   |    | 75,000  |   |
|           Advances – Charles Davis                                                                                                                                                                                                                                                                                                                                                                 |   |   | 125,000 |   |   |    | 125,000 |   |
|           Advances – Charles Davis                                                                                                                                                                                                                                                                                                                                                                 |   |   | 40,000  |   |   |    | 40,000  |   |
|           Advances – John Herzog                                                            |   |   | 2,650   |   |   |    | 2,650   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |    |   |   |    |    |   |
| Balances                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | $      | 492,125 |   |   | $       | 492,125 |   |

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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/ Charles L. Gamber, CEO                         |
|-----------------------|----------------------------------------------------|
|                  | Charles L. Gamber, Principal Executive Officer     |
|                  | Dated: March 4, 2011                               |
|                  |                                               |
|                  |                                               |
| By:    | /s/ John Herzog, Interim CFO                       |
|                  | John Herzog,                                       |
|                  | Interim Principal Financial and Accounting Officer |
|                  | Dated: March 4, 2011                               |

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