| 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 |  9   |   |
|   |                                                                          |      |   |
|   | 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                                                    |   14 |   |
|   |                                                                          |      |   |
|   | Item 6 - Exhibits                                                             |   15 |   |

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|                                                                                      |   | December 31, |        |   | September 30, |   |
|-------------------------------------------------------------------------------------------|--------|--------------|-------------|--------|---------------|--------|
| ASSETS                                                                                    |   | 2008         |        |   | 2009          |   |
| Current assets                                                                            |   |         |        |   |          |   |
|     Cash and cash equivalents                                         |   | $            | 23,904      |   |          | $      | 3,866 |   |
|     Advances                                                          |   |         | 30,000      |   |          |   | - |   |
|     Prepaid expenses                                                  |   |         | -           |   |          |   | 8,545 |   |
|     Revenue receivable                                                |   |         | 5,151       |   |          |   | 14,168 |   |
| Total current assets                                                                      |   |         | 59,055      |   |          |   | 26,579 |   |
|                                                                                      |   |         |        |   |          |   |   |   |
| Furniture and equipment, at cost net of accumulated                                       |   |         |        |   |          |   |   |   |
|     depreciation of $95,682(2008) and $128,847(2009)                  |   |         | 366,184     |   |          |   | 333,020 |   |
|                                                                                      |   |         |        |   |          |   |   |   |
|                                                                                      |   |         |        |   |          |   |   |   |
|                                                                                      |   |         |        |   |          |   |   |   |
|                                                                                      |   | $            | 425,239     |   |          | $      | 359,599 |   |
|                                                                                      |   |         |        |   |          |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                     |   |         |        |   |          |   |   |   |
| Current liabilities                                                                       |   |         |        |   |          |   |   |   |
|     Accounts payable                                                  |   | $            | 343,088     |   |          | $      | 403,938 |   |
|     Accrued expenses                                                  |   |         | 86,728      |   |          |   | 134,372 |   |
|     Accrued payroll taxes                                             |   |         | 235,898     |   |          |   | 235,898 |   |
|     Notes payable & advances related parties                      |   |         | 492,125     |   |          |   | 492,125 |   |
|                                                                                      |   |         |        |   |          |   |   |   |
| Total current liabilities                                                                 |   |         | 1,157,839   |   |          |   | 1,266,333 |   |
|                                                                                      |   |         |        |   |          |   |   |   |
| Stockholders' deficit                                                                     |   |         |        |   |          |   |   |   |
|     Convertible Class A preferred stock; $10 face value,              |   |         |        |   |          |   |   |   |
|       1,000,000 shares authorized                           |   |         |        |   |          |   |   |   |
|       Series 1, 30,000 shares authorized, 0 (2008)          |   |         |        |   |          |   |   |   |
|       and 0 (2009) shares issued and outstanding            |   |         | -           |   |          |   | - |   |
|       Series 2, 25,000 shares authorized, 0 (2008)          |   |         |        |   |          |   |   |   |
|       and 0 (2009) shares issued and outstanding            |   |         | -           |   |          |   | - |   |
|     Common stock, no par value; 499,000,000 shares                    |   |         |        |   |          |   |   |   |
|       authorized, 491,155,754 (2008) and 493,155,754 (2009) |   |         | 13,577,403  |   |          |   | 13,587,403 |   |
|       shares issued and outstanding                         |   |         |        |   |          |   |   |   |
|     Accumulated deficit                                               |   |         | (14,307,664 | )      |          |   | (14,491,798 | ) |
|     Notes receivable from sale of stock                               |   |         | (2,339      | )      |          |   | (2,339 | ) |
|                                                                                      |   |         |        |   |          |   |   |   |
| Total stockholders' deficit                                                               |   |         | (732,600    | )      |          |   | (906,734 | ) |
|                                                                                      |   |         |        |   |          |   |   |   |
|                                                                                      |   |         |        |   |          |   |   |   |
|                                                                                      |   | $            | 425,239     |   |          | $      | 359,599 |   |

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|                                                |   | Three MonthsEnding September 30, |        |   | Three MonthsEnding September 30, |   |        | Nine MonthsEnding September 30, |   |   | Nine MonthsEnding September 30, |   |
|-----------------------------------------------------|--------|----------------------------------|-------------|--------|----------------------------------|--------|-------------|---------------------------------|--------|--------|---------------------------------|--------|
|                                                |   | 2008                             |        |   | 2009                             |   |        | 2008                            |   |   | 2009                            |   |
| Revenues                                            |   |                             |        |   |                             |   |        |                            |   |   |                            |   |
|    Oil & gas revenue             |   | $                                | 142,465     |   |                             | $      | 44,441      |                            |   | $      | 579,593                         |   |   | $ | 127,573 |   |
|    Other income                      |   |                             | -           |   |                             |   | -           |                            |   |   | -                               |   |   |   | - |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Total revenues                                      |   |                             | 142,465     |   |                             |   | 44,441      |                            |   |   | 579,593                         |   |   |   | 127,573 |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Operating expenses                                  |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
|    Oil & gas operating expenses  |   |                             | 154,189     |   |                             |   | 70,598      |                            |   |   | 599,194                         |   |   |   | 200,719 |   |
|    Depreciation                      |   |                             | 11,055      |   |                             |   | 11,055      |                            |   |   | 33,165                          |   |   |   | 33,165 |   |
|    Rent                              |   |                             | 1,043       |   |                             |   | 750         |                            |   |   | 2,790                           |   |   |   | 2,831 |   |
|    Other operating expenses          |   |                             | 36,419      |   |                             |   | 9,391       |                            |   |   | 372,425                         |   |   |   | 39,599 |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Total operating expenses                            |   |                             | 202,706     |   |                             |   | 91,794      |                            |   |   | 1,007,574                       |   |   |   | 276,314 |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Net loss from operations                            |   |                             | (60,241     | )      |                             |   | (47,353     | )                               |   |   | (427,981                        | )      |   |   | (148,741 | ) |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Other income (expense):                             |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
|     Minority interest           |   |                             | -           |   |                             |   | -           |                            |   |   | -                               |   |   |   | - |   |
|     Loss on sale of investments |   |                             | -           |   |                             |   | -           |                            |   |   | -                               |   |   |   | - |   |
|     Extinguishment of debt      |   |                             | -           |   |                             |   | -           |                            |   |   | -                               |   |   |   | - |   |
|     Interest expense            |   |                             | (11,798     | )      |                             |   | (11,798     | )                               |   |   | (35,393                         | )      |   |   | (35,393 | ) |
|     Interest income             |   |                             | -           |   |                             |   | -           |                            |   |   | -                               |   |   |   | - |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Total other income (expense)                        |   |                             | (11,798     | )      |                             |   | (11,798     | )                               |   |   | (35,393                         | )      |   |   | (35,393 | ) |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Net income (loss)                                   |   | $                                | (72,039     | )      |                             | $      | (59,151     | )                               |   | $      | (463,374                        | )      |   | $ | (184,134 | ) |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Basic and diluted loss per share                    |   |                             | *           |   |                             |   | *           |                            |   |   | *                               |   |   |   | * |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
|                                                |   |                             |        |   |                             |   |        |                            |   |   |                            |   |   |   |   |   |
| Weighted average common shares outstanding          |   |                             | 482,000,000 |   |                             |   | 493,000,000 |                            |   |   | 462,000,000                     |   |   |   | 493,000,000 |   |

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|                                                                         |   | Common Stock Shares |        |   | Amount |   |       | Accumulated Deficit |   |   | Notes Receivable from Sale of Stock |   |   | Total  |   |
|------------------------------------------------------------------------------|--------|---------------------|-------------|--------|--------|--------|------------|---------------------|--------|--------|-------------------------------------|--------|--------|--------|--------|
| Balance at December 31, 2008                                                 |   |                | 491,155,754 |   |   | $      | 13,577,403 |                |   | $      | (14,307,664                         | )      |   | $      | (2,339 | ) |   | $ | (732,600 | ) |
|     Issuance of common stock to directors                |   |                |        |   |   |   |       |                |   |   |                                |   |   |   |   |   |   |   |   |   |
|         and consultants for services |   |                | 2,000,000   |   |   |   | 10,000     |                |   |   |                                |   |   |   |   |   |   |   | 10,000 |   |
|      Net loss                                       |   |                |        |   |   |   |       |                |   |   | (184,134                            | )      |   |   |   |   |   |   | (184,134 | ) |
| Balance at September 30, 2009                                                |   |                | 493,155,754 |   |   | $      | 13,587,403 |                |   | $      | (14,491,798                         | )      |   | $      | (2,339 | ) |   | $ | (906,734 | ) |

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|                                                                                                                      |   | 2008   |     |   | 2009   |   |
|---------------------------------------------------------------------------------------------------------------------------|--------|--------|----------|--------|--------|--------|
|                                                                                                                      |   |   |     |   |   |   |
| Cash flows from operating activities:                                                                                     |   |   |     |   |   |   |
|     Net (loss) income                                                                                 |   | $      | (463,374 | )      |   | $      | (184,134 | ) |
|     Adjustments to reconcile net loss to net                                                          |   |   |     |   |   |   |   |   |
|       cash used in operating activities:                                                    |   |   |     |   |   |   |   |   |
|           Depreciation and amortization                                 |   |   | 33,164   |   |   |   | 33,164 |   |
|           Stock  and options issued for services and          |   |   |     |   |   |   |   |   |
|             interest on notes                                 |   |   | 316,400  |   |   |   | 10,000 |   |
|          Changes in assets and liabilities:                                  |   |   |     |   |   |   |   |   |
|             Accounts receivable                               |   |   | 29,969   |   |   |   | (9,017 | ) |
|             Advances                                          |   |   | -        |   |   |   | 30,000 |   |
|             Prepaid expenses                                  |   |   | (15,542  | )      |   |   | (8,545 | ) |
|             Accounts payable                                  |   |   | 111,913  |   |   |   | 60,850 |   |
|             Accrued expenses                                  |   |   | 22,813   |   |   |   | 47,644 |   |
| Total adjustments                                                                                                         |   |   | 498,717  |   |   |   | 164,096 |   |
|                                                                                                                      |   |   |     |   |   |   |   |   |
|                                                                                                                      |   |   |     |   |   |   |   |   |
| Net cash provided in operating activities                                                                                 |   |   | 35,343   |   |   |   | (20,038 | ) |
|                                                                                                                      |   |   |     |   |   |   |   |   |
| 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                                                                      |   |   | 35,343   |   |   |   | (20,038 | ) |
| Cash and cash equivalents at beginning of period                                                                          |   |   | 28,992   |   |   |   | 23,904 |   |
|                                                                                                                      |   |   |     |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                                                |   | $      | 64,335   |   |   | $      | 3,866 |   |
|                                                                                                                      |   |   |     |   |   |   |   |   |
| Supplemental disclosure of cash flow information:                                                                         |   |   |     |   |   |   |   |   |
|                                                                                                                      |   |   | 2008     |   |   |   | 2009 |   |
|     Interest paid during the period                                                                   |   | $      | 17,500   |   |   | $      | - |   |
|     Income taxes paid during the period                                                               |   | $      | -        |   |   | $      | - |   |
|                                                                                                                      |   |   |     |   |   |   |   |   |
| Supplemental disclosure of non-cash investing and financing activities:                                                   |   |   |     |   |   |   |   |   |
|      During the nine months ended September 30, 2008 wages to officers and directors and fees to |   |   |     |   |   |   |   |   |
|         consultants of $316,400 were paid by the issuance of common stock         |   |   |     |   |   |   |   |   |
|      During the nine months ended September 30, 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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|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 2008    |   |   |    | 2009    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|---------|---------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |    |   |   |    |    |   |
|           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: February 2, 2011                            |
|                  |                                               |
|                  |                                               |
| By:    | /s/ John Herzog, Interim CFO                       |
|                  | John Herzog,                                       |
|                  | Interim Principal Financial and Accounting Officer |
|                  | Dated: February 2, 2011                            |

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