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UNITED STATES
SECURITIES AND EXCHANGE COMMISSIONWashington, D.C.
20549

FORM 10-Q

|                                                                                     | 
|------------------------------------------------------------------------------------ | 
|x QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
 OF THE SECURITIES EXCHANGE ACT OF 1934

For the
quarter ended September 30, 2008

|                                                                                      | 
|------------------------------------------------------------------------------------- | 
|o TRANSITION REPORT UNDER SECTION 13 OR 15(d)
 OF THE SECURITIES EXCHANGE ACT OF 1934

For the
transition period from _____ to _____

Commission File Number: 333-134648

|                                                                 
|-----------------------------------------------------------------
|BLACK SEA
 OIL, INC.                                             
|                                                                 
|(Exact name of small business issuer as specified in its charter)

|                         |  |                         
|------------------------ |  | ------------------------
|Nevada                   |  | 20-4069588              
|                         |  |                         
|(State of incorporation) |  | (IRS Employer ID Number)

|                                                                                   
|-----------------------------------------------------------------------------------
|415 Madison Avenue                                                                 
|15th Floor                                                                         
|New York, New York 10017                                                           
|                                                                                   
|(Address of principal executive offices)                                           
|                                                                                   
|(604) 673-8427)                                                                    
|                                                                                   
|(Issuers telephone number)                                                        
|                                                                                   
|                                                                                   
|                                                                                   
|(Former name, former address and former fiscal year, if changed since
 last report)

Check whether
the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of
the Exchange Act during the past 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes x    No o

Indicate by
check mark whether the registrant is a large accelerated filer, an accelerated
filer, a non-accelerated filer, or a smaller reporting company. See definitions
of large accelerated filer, accelerated filer and smaller reporting company
in Rule 12b-2 of the Exchange Act. (Check one):

|                                               |  |  |                            | 
|---------------------------------------------- |  |  | -------------------------- | 
|Large
 accelerated filer                       |  |  | Accelerated
 filer         | 
|o                                              |  |  | o                          | 
|Non-accelerated
 filer                         |  |  | Smaller
 reporting company | 
|o                                              |  |  | x                          | 
|(Do not
 check if a smaller reporting company) |  | 

Indicate by
check mark whether the registrant is a shell company (as defined in Rule 12b-2
of the Exchange Act).Yes x    No o

As of November
11, 2008, 180,075,000 shares of common stock, par value $0.0001 per share, were
outstanding.

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TABLE OF CONTENTS

|                                                                    |  |     
|------------------------------------------------------------------- |  | ----
|                                                                    |  | Page
|                                                                    |  |     
|PART I                                                              |  | 3   
|Item 1. Financial Statements                                        |  | 3   
|Item 2. Managements Discussion and Analysis or Plan of Operation   |  | 9   
|Item 3 Quantitative and Qualitative Disclosures About Market Risk   |  | 14  
|Item 4 Controls and Procedures                                      |  | 14  
|                                                                    |  |     
|PART II                                                             |  | 15  
|Item 1. Legal Proceedings                                           |  | 15  
|Item IA. Risk Factors                                               |  | 15  
|Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |  | 15  
|Item 3. Defaults Upon Senior Securities                             |  | 15  
|Item 4. Submission of Matters to a Vote of Security Holders         |  | 16  
|Item 5. Other Information                                           |  | 16  
|Item 6. Exhibits                                                    |  | 16  

2

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PART I

|        |                     
|------- | --------------------
|Item 1. | Financial Statements

BLACK SEA OIL, INC. 
(A DEVELOPMENT STAGE COMPANY)
CONDENSED BALANCE SHEET

|                                                                                                            |  |                    |          |                   |   |         |  
|----------------------------------------------------------------------------------------------------------- |  | ------------------ | -------- | ----------------- | - | ------- | -
|                                                                                                            |  | September 30, 2008 |          | December 31, 2007 |  
|                                                                                                            |  |                    |          |                   |  
|                                                                                                            |  | (Unaudited)        |          |                   |   |        
|ASSETS                                                                                                     
|Current Assets:                                                                                             |  |                    |          |                   |   |         |  
|Cash                                                                                                        |  | $                  | 3,246    |                   | $ | 16,567  |  
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Total Current Assets                                                                                        |  |                    | 3,246    |                   |   | 16,567  |  
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Total Assets                                                                                                |  | $                  | 3,246    |                   | $ | 16,567  |  
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|LIABILITIES AND STOCKHOLDERS DEFICIENCY                                                                   
|                                                                                                            |  |                    |          |                   |   |         |  
|Current Liabilities:                                                                                        |  |                    |          |                   |   |         |  
|Accounts Payable and Accrued Expenses                                                                       |  | $                  | 6,551    |                   | $ | 8,235   |  
|Notes Payable - Other                                                                                       |  |                    | 99,896   |                   |   | 44,233  |  
|Loans Payable - Related Party                                                                               |  |                    | 3,100    |                   |   | 3,100   |  
|Subscriptions Payable                                                                                       |  |                    | 2,500    |                   |   |        |  
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Total Current Liabilities                                                                                   |  |                    | 112,047  |                   |   | 55,568  |  
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Commitments and Contingencies                                                                               |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Stockholders Deficiency:                                                                                   |  |                    |          |                   |   |         |  
|Preferred Stock, $.0001 par value;
 5,000,000 shares authorized, none issued and outstanding                |  |                    |         |                   |   |        |  
|Common Stock, $.0001 par value;
 1,750,000,000 shares authorized, 180,075,000 shares issued and outstanding |  |                    | 18,008   |                   |   | 18,008  |  
|Additional Paid-In Capital                                                                                  |  |                    | 25,357   |                   |   | 25,357  |  
|Deficit Accumulated During the Development
 Stage                                                           |  |                    | (152,166 | )                 |   | (82,366 | )
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Total Stockholders Deficiency                                                                              |  |                    | (108,801 | )                 |   | (39,001 | )
|                                                                                                            |  |                    |          |                   |   |         |  
|                                                                                                            |  |                    |          |                   |   |         |  
|Total Liabilities and Stockholders
 Deficiency                                                             |  | $                  | 3,246    |                   | $ | 16,567  |  
|                                                                                                            |  |                    |          |                   |   |         |  

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

3

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BLACK SEA OIL, INC. 
(A DEVELOPMENT STAGE COMPANY)
CONDENSED STATEMENT OF OPERATIONS
(Unaudited)

|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|--------------------------------------------------- |  | ---------------------------------------- | ----------- | ------------------------------------- | - | ------------------------------------------------ | - | ---- | ----------- | ------------------ | - | ----------- | - | - | -------- | -
|                                                    |  | For the Nine Months Ended
 September 30, |             | For the
 Quarter Ended
 September 30, |   | For the Period
 January 10, 2006
 (Inception) To |  
|                                                    |  |                                          |             |                                       |   |                                                 
|                                                    |  | 2008                                     |             | 2007                                  |   | 2008                                             |   | 2007 |             | September 30, 2008 |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |  
|                                                   
|Net Revenues                                        |  | $                                        |            |                                       | $ |                                                 |   | $    |            |                    | $ |            |   | $ |         |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Costs and Expenses:                                 |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Website Development Costs                           |  |                                          |            |                                       |   |                                                 |   |      |            |                    |   |            |   |   | 30,000   |  
|Professional Fees                                   |  |                                          | 59,628      |                                       |   | 11,978                                           |   |      | 37,104      |                    |   | 3,265       |   |   | 96,457   |  
|General and Administrative Expenses                 |  |                                          | 6,288       |                                       |   | 3,123                                            |   |      | 4,400       |                    |   |            |   |   | 12,540   |  
|Start Up Costs                                      |  |                                          |            |                                       |   |                                                 |   |      |            |                    |   |            |   |   | 8,625    |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Total Costs and Expenses                            |  |                                          | 65,916      |                                       |   | 15,101                                           |   |      | 41,504      |                    |   | 3,265       |   |   | 147,622  |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Loss from Operations before Other Income
 (Expense) |  |                                          | (65,916     | )                                     |   | (15,101                                          | ) |      | (41,504     | )                  |   | (3,265      | ) |   | (147,622 | )
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Other Income (Expense):                             |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Interest Expense                                    |  |                                          | (3,884      | )                                     |   | (664                                             | ) |      | (1,897      | )                  |   | (531        | ) |   | (6,488   | )
|Forgiveness of Debt                                 |  |                                          |            |                                       |   |                                                 |   |      |            |                    |   |            |   |   | 1,857    |  
|Interest Income                                     |  |                                          |            |                                       |   |                                                 |   |      |            |                    |   |            |   |   | 87       |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Total Other Income (Expense)                        |  |                                          | (3,884      | )                                     |   | (664                                             | ) |      | (1,897      | )                  |   | (531        | ) |   | (4,544   | )
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Net Loss                                            |  | $                                        | (69,800     | )                                     | $ | (15,765                                          | ) | $    | (43,401     | )                  | $ | (3,796      | ) | $ | (152,166 | )
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Basic and Diluted Loss Per Share                    |  | $                                        | (.00        | )                                     | $ | (0.00                                            | ) | $    | (.00        | )                  | $ | (0.00       | ) |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  
|Weighted Average Common Shares Outstanding          |  |                                          | 180,075,000 |                                       |   | 180,075,000                                      |   |      | 180,075,000 |                    |   | 180,075,000 |   |   |          |  
|                                                    |  |                                          |             |                                       |   |                                                  |   |      |             |                    |   |             |   |   |          |  

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

4

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BLACK SEA OIL, INC. 
(A DEVELOPMENT STAGE COMPANY) 
CONDENSED STATEMENT OF CASH FLOWS(Unaudited)

|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|---------------------------------------------------------------------------- |  | ---------------------------------------- | ------- | -------------------------------------------------------------------- | - | ------- | - | - | -------- | -
|                                                                             |  |                                          |         | For the Period
 January 10, 2006
 (Inception) to
 September 30, 2008 |  
|                                                                             |  | For the Nine Months Ended
 September 30, |         |                                                                     
|                                                                             |  |                                          |         |                                                                     
|                                                                             |  | 2008                                     |         | 2007                                                                 |   |        
|                                                                             |  |                                          |         |                                                                      |   |         |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Cash Flows from Operating Activities:                                        |  |                                          |         |                                                                      |   |         |   |   |          |  
|Net Loss                                                                     |  | $                                        | (69,800 | )                                                                    | $ | (15,765 | ) | $ | (152,166 | )
|Adjustments to Reconcile Net Loss to Net
 Cash Used in Operating Activities: |  |                                          |         |                                                                      |   |         |   |   |          |  
|Changes in Assets and Liabilities:                                           |  |                                          |         |                                                                      |   |         |   |   |          |  
|Common Stock Issued for Services                                             |  |                                          |        |                                                                      |   |        |   |   | 7,600    |  
|Forgiveness of Debt                                                          |  |                                          |        |                                                                      |   |        |   |   | (1,857   | )
|Increase in Cash Overdraft                                                   |  |                                          |        |                                                                      |   |        |   |   |         |  
|Increase (Decrease) in Accounts Payable and Accrued
Expenses                 |  |                                          | (1,684  | )                                                                    |   | (8,774  | ) |   | 8,408    |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Net Cash Used in Operating Activities                                        |  |                                          | (71,484 | )                                                                    |   | (24,539 | ) |   | (138,015 | )
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Cash Flows from Investing Activities:                                        |  |                                          |        |                                                                      |   |        |   |   |         |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Cash Flows from Financing Activities:                                        |  |                                          |         |                                                                      |   |         |   |   |          |  
|Proceeds from Borrowings                                                     |  |                                          | 55,663  |                                                                      |   | 27,358  |   |   | 130,496  |  
|Payments of Borrowings                                                       |  |                                          |        |                                                                      |   |        |   |   | (27,500  | )
|Proceeds of Subscriptions Payable                                            |  |                                          | 2,500   |                                                                      |   |        |   |   | 2,500    |  
|Payments of Offering Costs                                                   |  |                                          |        |                                                                      |   |        |   |   | (21,885  | )
|Proceeds of Borrowings from Related Party                                    |  |                                          |        |                                                                      |   |        |   |   |         |  
|Proceeds from Sale of Common Stock                                           |  |                                          |        |                                                                      |   |        |   |   | 57,650   |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Net Cash Provided by Financing Activities                                    |  |                                          | 58,163  |                                                                      |   | 27,358  |   |   | 141,261  |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Increase (Decrease) in Cash                                                  |  |                                          | (13,321 | )                                                                    |   | 2,819   |   |   | 3,246    |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Cash  Beginning of Period                                                   |  |                                          | 16,567  |                                                                      |   |        |   |   |         |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Cash  End of Period                                                         |  | $                                        | 3,246   |                                                                      | $ | 2,819   |   | $ | 3,246    |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Supplemental Disclosures of Cash Flow
 Information:                          |  |                                          |         |                                                                      |   |         |   |   |          |  
|Interest Paid                                                                |  | $                                        |        |                                                                      | $ |        |   | $ |         |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  
|Income Taxes Paid                                                            |  | $                                        |        |                                                                      | $ |        |   | $ |         |  
|                                                                             |  |                                          |         |                                                                      |   |         |   |   |          |  

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

5

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BLACK SEA OIL, INC.
(A DEVELOPMENT STAGE COMPANY)
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

|              |                                       
|------------- | --------------------------------------
|NOTE 1       | Organization and Basis of Presentation

Black
Sea Oil, Inc. was incorporated under Nevada law on January 10, 2006 originally
as Terrapin Enterprises, Inc. (Terrapin). On December 6, 2006, Terrapin
merged its newly-formed wholly-owned subsidiary, Black Sea Oil, Inc. (Black
Sea) into Terrapin and changed its corporate name to Black Sea Oil, Inc. (the
Company) pursuant to a Plan and Agreement of Merger dated December 6, 2006.
For accounting purposes, this is a capital transaction and the equivalent to the
issuance of common stock by Terrapin for the net monetary assets of Black Sea
($0), accompanied by a recapitalization. On December 18, 2006, the Company
effected to a 17.5-for-1 forward stock split of its common stock, reduced the
par value from $.001 per share to $.0001 per share and increased its authorized
common shares from 100,000,000 to 1,750,000,000 shares. In addition, the
Company changed the par value of its authorized preferred stock from $.001 per
share to $.0001 per share. All share and per share information has been
retroactively adjusted to give effect to this recapitalization. The Company has
selected December 31 as its fiscal year.

In
the opinion of the Companys management, the accompanying unaudited condensed
financial statements contain all adjustments (consisting of only normal
recurring adjustments) necessary to present fairly the information set forth
therein. These financial statements are condensed and therefore do not include
all of the information and footnotes required by accounting principles
generally accepted in the United States of America for complete financial
statements. These condensed financial statements should be read in conjunction
with the Companys December 31, 2007 audited financial statements and notes
thereto included in the annual report on Form 10-KSB as of such date.

Results
of operations for interim periods are not necessarily indicative of the results
of operations for a full year.

The
Company is a development stage company and has not commenced planned principal
operations. The Company had no revenues and incurred a net loss of $69,800 for
the nine months ended September 30, 2008 and a net loss of $152,166 for the
period January 10, 2006 (inception) to September 30, 2008. In addition, the
Company had a working capital deficit of $108,801 at September 30, 2008. These
factors raise substantial doubt about the Companys ability to continue as a
going concern.

There
can be no assurance that sufficient funds will be generated during the next
year or thereafter from operations or that funds will be available from
external sources such as debt or equity financings or other potential sources.
The lack of additional capital could force the Company to curtail or cease
operations and would, therefore, have a material adverse effect on its
business. Furthermore, there can be no assurance that any such required funds,
if available, will be available on attractive terms or that they will not have
a significant dilutive effect on the Companys existing stockholders.

The
Company is attempting to address its lack of liquidity by raising additional
funds, either in the form of equity or debt or some combination thereof. There
can be no assurance that the Company will be able to raise the additional funds
it requires.

The
accompanying condensed financial statements do not include any adjustments
related to the recoverability or classification of asset-carrying amounts or
the amounts and classifications of liabilities that may result should the
Company be unable to continue as a going concern.

6

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BLACK SEA OIL, INC.
(A DEVELOPMENT STAGE COMPANY) 
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

|             |                              
|------------ | -----------------------------
|NOTE 2      | Loan Payable
  Related Party

Loan
payable to the Companys former President is payable on demand and bears
interest at 8% per annum.

|              |                                         
|------------- | ----------------------------------------
|NOTE 3       | Notes
 Payable  Other                  
|              |                                         
|              | Notes
 payable consist of the following:

|                                                                                        |  |                    |        |                   |   |        | 
|--------------------------------------------------------------------------------------- |  | ------------------ | ------ | ----------------- | - | ------ | 
|                                                                                        |  | September 30, 2008 |        | December 31, 2007 |  
|                                                                                        |  |                    |        |                   |  
|Notes payable, bearing interest at 8% per
 annum and payable on demand                  |  | $                  | 12,475 |                   | $ | 12,475 | 
|                                                                                        |  |                    |        |                   |   |        | 
|Notes payable, bearing interest at prime
 rate plus 1% per annum and payable on demand  |  |                    | 44,758 |                   |   | 31,758 | 
|                                                                                        |  |                    |        |                   |   |        | 
|Notes payable, bearing interest at prime
 Rate plus 11% per annum and payable on demand |  |                    | 42,663 |                   |   |       | 
|                                                                                        |  |                    |        |                   |   |        | 
|                                                                                        |  |                    |        |                   |   |        | 
|                                                                                        |  | $                  | 99,996 |                   | $ | 44,233 | 
|                                                                                        |  |                    |        |                   |   |        | 

|              |                       
|------------- | ----------------------
|NOTE 4       | Subscriptions
 Payable

Subscriptions
payable represents funds received by the Company in connection with
subscription agreements not yet accepted by the Company.

|              |                         
|------------- | ------------------------
|NOTE 5       | Stockholders Deficiency

In
April 2006 the Company issued 133,000,000 shares of common stock valued at
$7,600 to the Founders of the Company for services.

In
April 2006 the Company sold 7,000,000 shares of common stock for $400 to a
private investor.

During
the quarter ended September 30, 2006 the Company sold 40,075,000 shares of
common stock pursuant to its public offering for gross proceeds of $57,250. The
Company incurred offering costs of $21,885 and net proceeds amounted to
$35,365.

7

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BLACK SEA OIL, INC. 
(A DEVELOPMENT STAGE COMPANY) 
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

|              |                                      
|------------- | -------------------------------------
|NOTE 5       | Stockholders
 Deficiency (Continued)

On
December 18, 2006, the Company effected to a 17.5-for-1 forward stock split of
its common stock, reduced the par value from $.001 per share to $.0001 per
share and increased its authorized common shares from 100,000,000 to
1,750,000,000 shares. All share and per share information has been
retroactively adjusted to give effect to this recapitalization.

On
September 29, 2008, the Company amended its articles of incorporation with an
effective date of November 14, 2008 to: (a) implement a 1 to 1000 reverse stock
split of the issued and outstanding shares of common stock held by each stockholder
of record at October 21, 2008, without correspondingly decreasing the number of
authorized shares of common stock; and (b) change its name from Black Sea Oil,
Inc. to Clearview Acquisitions, Inc.

8

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|        |                                                            
|------- | -----------------------------------------------------------
|Item 2. | Managements Discussion and Analysis or Plan of Operations.

As used in
this Form 10-Q, references to the Company, we, our or us refer to Black
Sea Oil, Inc., unless the context otherwise indicates.

This
Managements Discussion and Analysis or Plan of Operation should be read in
conjunction with the financial statements and the notes thereto.

Forward-Looking Statements

The following
discussion should be read in conjunction with our financial statements, which
are included elsewhere in this Form 10-Q. This Form 10-Q contains
forward-looking statements which relate to future events or our future financial
performance. In some cases, you can identify forward-looking statements by
terminology such as may, should, expects, plans, anticipates,
believes, estimates, predicts, potential or continue or the negative
of these terms or other comparable terminology. These statements are only
predictions and involve known and unknown risks, uncertainties, and other
factors that may cause our or our industrys actual results, levels of
activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements.

While these
forward-looking statements, and any assumptions upon which they are based, are
made in good faith and reflect our current judgment regarding the direction of
our business, actual results will almost always vary, sometimes materially,
from any estimates, predictions, projections, assumptions or other future
performance suggested herein. Except as required by applicable law, including
the securities laws of the United States, we do not intend to update any of the
forward-looking statements to conform these statements to actual results.

Overview

We were
incorporated under Nevada law on January 10, 2006 under the corporate name
Terrapin Enterprises, Inc. On December 6, 2006, we merged our newly-formed
wholly-owned subsidiary, Black Sea Oil, Inc. into us and changed our corporate
name to Black Sea Oil, Inc. pursuant to a Plan and Agreement of Merger dated
December 6, 2006. On December 18, 2006, we effected to a 17.5-for-1 forward
stock split of our common stock. All share and per share information in this
Quarterly Report give effect to that 17.5-for-1 forward stock split.

We are a
development stage company that has not generated any revenue. Prior to the
merger, we were focused on developing and offering interactive educational
enrichment media programming specifically designed for children ages 6 to 12
years of age. Since the change of control in December 2006, we decided to seek,
investigate and, if such

9

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investigation
warrants, engage in a business combination with a private entity whose business
presents an opportunity for our shareholders.

On September
29, 2008, the Company amended its articles of incorporation with an effective
November 14, 2008 to: (a) implement a 1 to 1000 reverse stock split of the
issued and outstanding shares of common stock held by each stockholder of
record at October 21, 2008, without correspondingly decreasing the number of
authorized shares of common stock; and (b) change its name from Black Sea Oil,
Inc. to Clearview Acquisitions, Inc.

Plan
of Operation

Our objectives
discussed below are extremely general and are not intended to restrict our
discretion. This discussion of the proposed business is not meant to be
restrictive of our virtually unlimited discretion to search for and enter into
potential business opportunities.

We have no
particular acquisition in mind and have not entered into any negotiations
regarding such an acquisition. Neither our sole officer nor any affiliate has
engaged in any negotiations with any representative of any company regarding
the possibility of an acquisition or merger between our company and such other
company. We have not yet entered into any agreement, nor do we have any
commitment or understanding to enter into or become engaged in a transaction.

We will not
restrict our potential candidate target companies to any specific business,
industry or geographical location and, thus, may acquire any type of business.
Further, we may acquire a venture which is in its preliminary or development
stage, one which is already in operation, or in a more mature stage of its
corporate existence. Accordingly, business opportunities may be available in
many different industries and at various stages of development, all of which
will make the task of comparative investigation and analysis of such business
opportunities difficult and complex.

We believe
that there are numerous firms seeking the perceived benefits of a publicly
registered corporation. These benefits are commonly thought to include the
following: (i) the ability to use registered securities to acquire assets or
businesses; (ii) increased visibility in the marketplace; (iii) ease of
borrowing from financial institutions; (iv) improved stock trading efficiency;
(v) shareholder liquidity; (vi) greater ease in subsequently raising capital;
(vii) compensation of key employees through stock options; (viii) enhanced
corporate image; and (ix) a presence in the United States capital market. We
have not conducted market research and are not aware of statistical data to
support the perceived benefits of a merger or acquisition transaction for the
owners of a business opportunity.

Target
companies interested in a business combination with our company may include the
following: (i) a company for whom a primary purpose of becoming public is the
use of its securities for the acquisition of other assets or businesses; (ii) a
company which is unable to find an underwriter of its securities or is unable
to find an underwriter of securities on terms acceptable to it; (iii) a company
which desires to become public with less dilution of its common stock than
would occur upon an underwriting; (iv) a company which believes that it will be
able to obtain investment capital on more favorable terms

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after it has
become public; (v) a foreign company which may wish an initial entry into the
United States securities market; (vi) a special situation company, such as a
company seeking a public market to satisfy redemption requirements under a
qualified Employee Stock Option Plan; (vii) a company seeking one or more of
the other mentioned perceived benefits of becoming a public company.

We anticipate
seeking out a target business through solicitation. Such solicitation may
include newspaper or magazine advertisements, mailings and other distributions
to law firms, accounting firms, investment bankers, financial advisors and
similar persons, the use of one or more World Wide Web sites and similar
methods. No estimate can be made as to the number of persons who will be
contacted or solicited. Such persons will have no relationship to our
management.

The analysis
of new business opportunities will be undertaken by or under the supervision of
Tatiana Mikitchuk, our sole executive officer and director. Tatiana Mikitchuk,
our sole executive officer, is not a business analyst. Therefore, it is
anticipated that outside consultants or advisors may be utilized to assist us
in the search for and analysis of qualified target companies.

A decision to
participate in a specific business opportunity will be made based upon our
analysis of the quality of the prospective business opportunitys management
and personnel, assets, the anticipated acceptability of products or marketing
concepts, the merit of a proposed business plan, and numerous other factors
which are difficult, if not impossible, to analyze using any objective
criteria. We have unrestricted flexibility in seeking, analyzing and
participating in potential business opportunities.

In our efforts
to analyze potential acquisition targets, we will consider the following kinds
of factors: (a) potential for growth, indicated by new technology, anticipated
market expansion or new products; (b) competitive position as compared to
other firms of similar size and experience within the industry segment as well
as within the industry as a whole; (c) strength and diversity of management,
either in place or scheduled for recruitment; (d) capital requirements and anticipated
availability of required funds, to be provided by our company or from
operations, through the sale of additional securities, through joint ventures
or similar arrangements or from other sources; (e) the cost of participation by
our company as compared to the perceived tangible and intangible values and
potentials; (f) the extent to which the business opportunity can be advanced;
(g) the accessibility of required management expertise, personnel, raw
materials, services, professional assistance and other required items; and (h)
other relevant factors.

In applying
the foregoing criteria, no one of which will be controlling, management will
attempt to analyze all factors and circumstances and make a determination based
upon reasonable investigative measures and available data. Potentially
available business opportunities may occur in many different industries, and at
various stages of development, all of which will make the task of comparative
investigation and analysis of such business opportunities extremely difficult
and complex. Due to our limited capital available for investigation, we may not
discover or adequately evaluate adverse facts about the opportunity to be
acquired.

In
implementing a structure for a particular business acquisition, we may become a
party to a merger, consolidation, reorganization, joint venture, or licensing
agreement with

11

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another
entity. We also may acquire stock or assets of an existing business. On the
consummation of a transaction it is probable that the present management and
shareholders of the company will no longer be in control of the company. In
addition, our officers and directors, as part of the terms of the acquisition
transaction, likely will be required to resign and be replaced by one or more
new officers and directors without a vote of our shareholders.

It is
anticipated that any securities issued in any such reorganization would be
issued in reliance upon exemption from registration under applicable federal
and state securities laws. In some circumstances, however, as a negotiated
element of a transaction, we may agree to register all or a part of such
securities immediately after the transaction is consummated or at specified
times thereafter. The issuance of substantial additional securities and their
potential sale into any trading market which may develop in our securities may
have a depressive effect on that market.

While the
actual terms of a transaction to which we may be a party cannot be predicted,
it may be expected that the parties to the business transaction will find it
desirable to avoid the creation of a taxable event and thereby structure the
acquisition as a tax-free reorganization under Sections 351 or 368 of the
Internal Revenue Code of 1986, as amended.

With respect
to any merger or acquisition, negotiations with target company management are
expected to focus on the percentage of the Company which the target company
shareholders would acquire in exchange for all of their shareholdings in the
target company. Depending upon, among other things, the target companys assets
and liabilities, the Companys shareholders will in all likelihood hold a
substantially lesser percentage ownership interest in the Company following any
merger or acquisition. The percentage ownership may be subject to significant
reduction in the event the Company acquires a target company with substantial
assets. Any merger or acquisition effected by the Company can be expected to
have a significant dilutive effect on the percentage of shares held by the
Companys shareholders at such time.

The Company
will participate in a business opportunity only after the negotiation and
execution of appropriate agreements. Although the terms of such agreements
cannot be predicted, generally such agreements will require certain representations
and warranties of the parties thereto, will specify certain events of default,
will detail the terms of closing and the conditions which must be satisfied by
the parties prior to and after such closing, will outline the manner of bearing
costs, including costs associated with the Companys attorneys and accountants,
and will include miscellaneous other terms.

We are
presently subject to all of the reporting requirements included in the Exchange
Act. Included in these requirements is the duty of the Company to file audited
financial statements as part of its Form 8-K to be filed with the Securities
and Exchange Commission upon consummation of a merger or acquisition, as well
as the Companys audited financial statements included in its annual report on
Form 10-K. If such audited financial statements are not available at closing,
or within time parameters necessary to insure the Companys compliance with the
requirements of the Exchange Act, or if the audited financial statements
provided do not conform to the representations made by the target company, the
closing documents may provide that the proposed transaction will be voidable at
the discretion of the present management of the Company.

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It is
anticipated that the investigation of specific business opportunities and the
negotiation, drafting and execution of relevant agreements, disclosure
documents and other instruments will require substantial management time and
attention and substantial cost for accountants, attorneys and others. If a
decision is made not to participate in a specific business opportunity, the
costs theretofore incurred in the related investigation would not be
recoverable. Furthermore, even if an agreement is reached for the participation
in a specific business opportunity, the failure to consummate that transaction
may result in the loss to the Registrant of the related costs incurred.

Our Company,
based on our proposed business activities, is a blank check company. The U.S.
Securities and Exchange Commission (the SEC) defines those companies as any
development stage company that is issuing a penny stock, within the meaning of
Section 3 (a)(51) of the Securities Exchange Act of 1934, as amended (the
Exchange Act), and that has no specific business plan or purpose, or has indicated
that its business plan is to merge with an unidentified company or companies.
Under SEC Rule 12b-2 under the Securities Act of 1933, as amended (the
Securities Act), the Company also qualifies as a shell company, because it
has no or nominal assets (other than cash) and no or nominal operations. Many
states have enacted statutes, rules and regulations limiting the sale of
securities of blank check companies in their respective jurisdictions.
Management does not intend to undertake any efforts to cause a market to
develop in our securities, either debt or equity, until we have successfully
concluded a business combination. The Company intends to comply with the
periodic reporting requirements of the Exchange Act for so long as we are
subject to those requirements.

Results of Operation

For the nine
months ended September 30, 2008, operating expenses were $65,916. We had a loss
from operations in the amount of $65,916. The net loss during such period was
$69,800. For the nine months ended September 30, 2007, operating expenses were
$15,101. We had a loss from operations in the amount of $15,101. The net loss
during such period was $15,765. A significant percentage of our net loss is
attributed to professional services, as well as, general and administrative
expenses in connection with our reporting requirements as a public company.

Liquidity and Capital Resources

We are in the
development stage and have no revenue or business operations. Our balance sheet
as of September 30, 2008, reflects cash of $3,246, which represents 100% of the
Companys total assets.

Over the next
12 months, we will attempt to acquire other assets or business operations that
will maximize shareholder value. No specific assets or businesses have been
definitively identified and there is no certainty that any such assets or
business will be identified or any transactions will be consummated.

We expect that
we will need to raise funds in order to effectuate our business plans. We
intend initially to seek additional investors to purchase our stock to provide
us with working capital to fund our operations. Thereafter, we will seek to
establish or acquire businesses or assets with additional funds raised either
via the issuance of shares or debt. There can be no assurance that additional
capital will be available to us. We may

13

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seek to raise
the required capital by other means. We may have to issue debt or equity or
enter into a strategic arrangement with a third party. We currently have no
agreements, arrangements or understandings with any person to obtain funds
through bank loans, lines of credit or any other sources. Since we have no such
arrangements or plans currently in effect, our inability to raise funds will
have a severe negative impact on our ability to remain a viable company. In
pursuing the foregoing goals, we may seek to expand or change the composition
of the Board or make changes to our current capital structure, including
issuing additional shares or debt and adopting a stock option plan.

We do not
expect to generate any revenues over the next twelve months. Our principal
business objective for the next 12 months will be to seek, investigate and, if
such investigation warrants, engage in a business combination with a private
entity whose business presents an opportunity for our shareholders.

Going
Concern Consideration

The Company is
a development stage company and has not commenced planned principal operations.
The Company had no revenues and incurred a net loss of $69,800 for the nine
months ended September 30, 2008 and a net loss of $152,166 for the period
January 10, 2006 (inception) to September 30, 2008. In addition, the Company
had a working capital deficit of $108,801 at September 30, 2008. These factors
raise substantial doubt about the Companys ability to continue as a going
concern.

There can be
no assurance that sufficient funds will be generated during the next year or
thereafter from operations or that funds will be available from external
sources such as debt or equity financings or other potential sources. The lack
of additional capital could force the Company to curtail or cease operations
and would, therefore, have a material adverse effect on its business.
Furthermore, there can be no assurance that any such required funds, if
available, will be available on attractive terms or that they will not have a
significant dilutive effect on the Companys existing stockholders.

Off-Balance Sheet
Arrangements

We have no
off-balance sheet arrangements.

|        |                                                            
|------- | -----------------------------------------------------------
|Item 3. | Quantitative and Qualitative Disclosures About Market Risk.

Not
applicable.

|        |                         
|------- | ------------------------
|Item 4. | Controls and Procedures.

Disclosure Controls and Procedures

Our disclosure
controls and procedures are designed to ensure that information required to be
disclosed in reports that we file or submit under the Securities Exchange Act
of 1934 is recorded, processed, summarized and reported within the time periods
specified in the rules and forms of the United States Securities and Exchange
Commission. Our principal executive officer and principal financial officer has
reviewed the effectiveness of our disclosure controls and procedures (as
defined in the Securities Exchange Act of 1934 Rules 13(a)-15(e) and
15(d)-15(e)) within the end of the period covered by this

14

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Quarterly
Report on Form 10-Q and has concluded that the disclosure controls and
procedures are effective to ensure that material information relating to the
Company is recorded, processed, summarized, and reported in a timely manner.
There were no significant changes in our internal controls or in other factors
that could significantly affect these controls subsequent to the last day they
were evaluated by our principal executive officer and principal financial
officer.

Internal Controls Over Financial Reporting

There have
been no changes in the Companys internal control over financial reporting
during the last quarterly period covered by this report that have materially
affected, or are reasonably likely to materially affect, the Companys internal
control over financial reporting.

PART II
OTHER INFORMATION

|        |                   
|------- | ------------------
|Item 1. | Legal Proceedings.

There are no
pending legal proceedings to which the Company is a party or in which any
director, officer or affiliate of the Company, any owner of record or
beneficially of more than 5% of any class of voting securities of the Company,
or security holder is a party adverse to the Company or has a material interest
adverse to the Company. The Companys property is not the subject of any
pending legal proceedings.

|         |             
|-------- | ------------
|Item 1A. | Risk Factors

Smaller
reporting companies are not required to provide the information required by
this item.

|        |                                                             
|------- | ------------------------------------------------------------
|Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds.

Unregistered
Sales of Equity Securities

None.

Purchases
of equity securities by the issuer and affiliated purchasers

None

Use
of Proceeds

None

|        |                                 
|------- | --------------------------------
|Item 3. | Defaults Upon Senior Securities.

None

15

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|        |                                                     
|------- | ----------------------------------------------------
|Item 4. | Submission of Matters to a Vote of Security Holders.

On September
26, 2008, the Company received a written consent in lieu of a meeting of
stockholders (the Written Consent) from the holder of 133,000,000
(representing 73.85%) of the issued and outstanding shares of our Common Stock.
The Written Consent adopted the following resolutions, which authorized the
Company to: (a) implement a 1 to 1000 reverse stock split of the issued and
outstanding shares of common stock held by each stockholder of record at
October 21, 2008, without correspondingly decreasing the number of authorized
shares of common stock; and (b) amend the Companys Articles of Incorporation
for the purpose of changing the name of the Company from Black Sea Oil, Inc.
to Clearview Acquisitions, Inc. The effective date of the name change and the
reverse stock split will be November 14, 2008.

|        |                   
|------- | ------------------
|Item 5. | Other Information.

None.

|        |         
|------- | --------
|Item 6. | Exhibits

|             |  |                                                                                                                                                
|------------ |  | -----------------------------------------------------------------------------------------------------------------------------------------------
|Exhibit
 No. |  | Description                                                                                                                                    
|             |  |                                                                                                                                                
|31.1         |  | Rule
 13a-14(a)/15d14(a) Certifications of Tatiana Mikitchuk, the President, Chief
 Executive Officer, Treasurer and Director (attached hereto)
|             |  |                                                                                                                                                
|32.1         |  | Section 1350
 Certifications of Tatiana Mikitchuk, the President, Chief Executive Officer,
 Treasurer and Director(attached hereto)            

16

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SIGNATURES

In accordance
with to requirements of the Exchange Act, the registrant caused this report to
be signed on its behalf by the undersigned, thereunto duly authorized.

|                          |                     |                                     
|------------------------- | ------------------- | ------------------------------------
|                          | BLACK SEA OIL, INC.
|                          |                     |                                     
|Dated:
 November 12, 2008 | By:                 | /s/Tatiana
 Mikitchuk               
|                          |                     |                                     
|                          | Name:               | Tatiana
 Mikitchuk                  
|                          | Title:              | President,
 Chief Executive Officer,
|                          |                     | Treasurer
 and Sole Director        
|                          |                     | (Principal
 Executive, Financial and
|                          |                     | Accounting
 Officer)                

17

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