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

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

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

 

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**TABLE      OF CONTENTS**

|                                                                                                  |   | Page   |   |
|-------------------------------------------------------------------------------------------------------|--------|--------|--------|
| PART                I - Financial Information                                                         |   |   | 3      |   |
|                                                                                                  |   |   |   |   |
| Item                1. Financial Statements                                                           |   |   | 3      |   |
|                                                                                                  |   |   |   |   |
| Item                2. Management’s Discussion and Analysis or Plan of                Operation |   |   | 7      |   |
|                                                                                                  |   |   |   |   |
| Item                3 Controls and Procedures                                                         |   |   | 11     |   |
|                                                                                                  |   |   |   |   |
| PART                II - Other Information                                                            |   |   | 11     |   |
|                                                                                                  |   |   |   |   |
| Item                1. Legal Proceedings                                                              |   |   | 11     |   |
|                                                                                                  |   |   |   |   |
| Item                2. Unregistered Sales of Equity Securities and Use of                Proceeds     |   |   | 11     |   |
|                                                                                                  |   |   |   |   |
| Item                3. Defaults Upon Senior Securities                                                |   |   | 11     |   |
|                                                                                                  |   |   |   |   |
| Item                4. Submission of Matters to a Vote of Security Holders                            |   |   | 12     |   |
|                                                                                                  |   |   |   |   |
| Item                5. Other Information                                                              |   |   | 12     |   |
|                                                                                                  |   |   |   |   |
| Item                6. Exhibits                                                                       |   |   | 12     |   |
|                                                                                                  |   |   |   |   |
| SIGNATURES                                                                                            |   |   | 13     |   |

----

**PART      I**

**FINANCIAL      INFORMATION**

**Item      1.**
**Financial      Statements.**

| ASSETS                                                                            |
|-----------------------------------------------------------------------------------|
|                                                                              |   |   |   |
| Current                  Assets:                                                  |   |   |   |
| Cash                                                                              |   | $ | 2,819 |   |
|                                                                              |   |   |   |   |
| Total                  Current Assets                                             |   |   | 2,819 |   |
|                                                                              |   |   |   |   |
| Total                  Assets                                                     |   | $ | 2,819 |   |
|                                                                              |   |   |   |   |
| LIABILITIES                  AND STOCKHOLDERS’ DEFICIENCY                   |
|                                                                              |   |   |   |   |
| Current                  Liabilities:                                             |   |   |   |   |
| Accounts                  Payable                                                 |   | $ | 6,429 |   |
| Loan                  Payable - Related Party                                     |   |   | 3,100 |   |
| Loans                  Payable - Other                                            |   |   | 24,258 |   |
|                                                                              |   |   |   |   |
| Total                  Current Liabilities                                        |   |   | 33,787 |   |
|                                                                              |   |   |   |   |
| 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 |   |
| Additional                  Paid-In Capital                                       |   |   | 25,357 |   |
| Deficit                  Accumulated During the Development Stage                 |   |   | (74,333 | ) |
|                                                                              |   |   |   |   |
| Total                  Stockholders’ Deficiency                             |   |   | (30,968 | ) |
|                                                                              |   |   |   |   |
| Total                  Liabilities and Stockholders’ Deficiency             |   | $ | 2,819 |   |

----

|                                                       |   | For                  the Three Months Ended September 30, |                   | For                  the Nine Months Ended September 30, |   | For                  the Period January 10, 2006 (Inception) To September                  30, |   | For                  the Period January 10, 2006 (Inception) To September                  30, |                   |
|------------------------------------------------------------|--------|-----------------------------------------------------------|------------------------|----------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|------------------------|
|                                                       |   | 2007                                                      |                   | 2006                                                     |   | 2007                                                                                           |   | 2006                                                                                           |                   | 2007 |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |
| Net                  Revenues                              |   | $                                                         | -                      |                                                     | $      | -                                                                                              |   | $                                                                                              | -                      |   | $ | - |   | $ | - |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Costs                  and Expenses:                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Start                  Up Costs                            |   |                                                      | -                      |                                                     |   | -                                                                                              |   |                                                                                           | -                      |   |   | 8,625 |   |   | 8,625 |   |
| Professional                  Fees                         |   |                                                      | 3,265                  |                                                     |   | 3,000                                                                                          |   |                                                                                           | 11,978                 |   |   | 9,000 |   |   | 32,548 |   |
| Website                  Development Costs                 |   |                                                      | -                      |                                                     |   | 30,000                                                                                         |   |                                                                                           | -                      |   |   | 30,000 |   |   | 30,000 |   |
| Other                  General and Administrative Expenses |   |                                                      | -                      |                                                     |   | 172                                                                                            |   |                                                                                           | 3,123                  |   |   | 172 |   |   | 3,563 |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Total                  Costs and Expenses                  |   |                                                      | 3,265                  |                                                     |   | 33,172                                                                                         |   |                                                                                           | 15,101                 |   |   | 47,797 |   |   | 74,730 |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Loss                  from Operations before Other         |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Income                  (Expense)                          |   |                                                      | (3,265                 | )                                                        |   | (33,172                                                                                        | )      |                                                                                           | (15,101                | ) |   | (47,797 | ) |   | (74,736 | ) |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Other                  Income (Expense):                   |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Forgiveness                  of Debt                       |   |                                                      | -                      |                                                     |   | 1,857                                                                                          |   |                                                                                           | -                      |   |   | 1,857 |   |   | 1,857 |   |
| Interest                  Expense                          |   |                                                      | (531                   | )                                                        |   | (371                                                                                           | )      |                                                                                           | (664                   | ) |   | (877 | ) |   | (1,541 | ) |
| Interest                  Income                           |   |                                                      | -                      |                                                     |   | 35                                                                                             |   |                                                                                           | -                      |   |   | 87 |   |   | 87 |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Total                  Other Income (Expense)              |   |                                                      | (531                   | )                                                        |   | 1,521                                                                                          |   |                                                                                           | (664                   | ) |   | 1,067 |   |   | 403 |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Net                  Loss                                  |   | $                                                         | (3,796                 | )                                                        | $      | (31,651                                                                                        | )      | $                                                                                              | (15,765                | ) | $ | (46,730 | ) | $ | (74,333 | ) |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Basic                  and Diluted Loss Per Share          |   | $                                                         | (                  .00 | )                                                        | $      | (                  .00                                                                         | )      | $                                                                                              | (                  .00 | ) | $ | (                  .01 | ) |   |   |   |
|                                                       |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Weighted                  Average Basic and Diluted Shares |   |                                                      |                   |                                                     |   |                                                                                           |   |                                                                                           |                   |   |   |   |   |   |   |   |
| Outstanding                                                |   |                                                      | 180,075,000            |                                                     |   | 8,812,826                                                                                      |   |                                                                                           | 180,075,000            |   |   | 8,425,029 |   |   |   |   |

----

|                                                              |   | For                the Nine MonthsEnded                September                30, 2007 |    | For                the Period January 10, 2006 (Inception) ToSeptember                30, 2006 |   | For                the Period January 10, 2006 (Inception) To September                30,2007 |   |
|-------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------|---------|------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------|--------|
| Cash                Flows from Operating Activities:              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |
| Net                Loss                                           |   | $                                                                                        | (15,765 | )                                                                                              | $      | (46,730                                                                                        | )      | $ | (74,333 | ) |
| Adjustments                to Reconcile Net Loss to Net Cash      |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Used                in Operating Activities:                      |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Common                Stock Issued for Services                   |   |                                                                                     | -       |                                                                                           |   | 7,600                                                                                          |   |   | 7,600 |   |
| Forgiveness                of Debt                                |   |                                                                                     | -       |                                                                                           |   | (1,857                                                                                         | )      |   | (1,857 | ) |
| Changes                in Assets and Liabilities:                 |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Increase                (Decrease) in Accounts Payable            |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| And                Accrued Expenses                               |   |                                                                                     | (8,774  | )                                                                                              |   | (15,758                                                                                        | )      |   | 6,429 |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Net                Cash Used in Operating Activities              |   |                                                                                     | (24,539 | )                                                                                              |   | (56,745                                                                                        | )      |   | (62,161 | ) |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Cash                Flows from Investing Activities:              |   |                                                                                     | -       |                                                                                           |   | -                                                                                              |   |   | - |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Cash                Flows from Financing Activities:              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Proceeds                of Borrowings                             |   |                                                                                     | 27,358  |                                                                                           |   | 28,480                                                                                         |   |   | 53,615 |   |
| Payments                of Borrowings                             |   |                                                                                     | -       |                                                                                           |   | (27,500                                                                                        | )      |   | (27,500 | ) |
| Proceeds                from Sale of Common Stock                 |   |                                                                                     | -       |                                                                                           |   | 57,650                                                                                         |   |   | 57,650 |   |
| Payments                of Offering Costs                         |   |                                                                                     | -       |                                                                                           |   | (1,885                                                                                         | )      |   | (21,885 | ) |
| Proceeds                of Borrowings from Related Party          |   |                                                                                     | -       |                                                                                           |   | -                                                                                              |   |   | 3,100 |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Net                Cash Provided by Financing Activities          |   |                                                                                     | 27,358  |                                                                                           |   | 56,745                                                                                         |   |   | 64,980 |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Increase                in Cash                                   |   |                                                                                     | 2,819   |                                                                                           |   | -                                                                                              |   |   | 2,819 |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Cash                - Beginning of Period                         |   |                                                                                     | -       |                                                                                           |   | -                                                                                              |   |   | - |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Cash                - End of Period                               |   | $                                                                                        | 2,819   |                                                                                           | $      | -                                                                                              |   | $ | 2,819 |   |
|                                                              |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Supplemental                Disclosures of Cash Flow Information: |   |                                                                                     |    |                                                                                           |   |                                                                                           |   |   |   |   |
| Interest                Paid                                      |   | $                                                                                        | -       |                                                                                           | $      | -                                                                                              |   | $ | - |   |
| Income                Taxes Paid                                  |   | $                                                                                        | -       |                                                                                           | $      | -                                                                                              |   | $ | - |   |

----

----

**Item      2.**
**Management’s      Discussion and Analysis or Plan of Operations.**

**Forward-Looking      Statements**

**Overview**

**Plan      of Operation**

----

----

----

**Liquidity      and Capital Resources**

----

**Going      Concern Consideration**

**Off-Balance      Sheet Arrangements**

 

**Item      3.**
**Controls      and Procedures.**

**Evaluation      of Disclosure Controls and Procedures**

**Changes      in Internal Controls over Financial Reporting**

**PART      II**

**OTHER      INFORMATION**

**Item      1.**
**Legal      Proceedings.**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds.**

**Item      3.**
**Defaults      Upon Senior Securities.**

----

**Item      4.**
**Submission      of Matters to a Vote of Security Holders.**

**Item      5.**
**Other      Information.**

 

**Item      6.**
**Exhibits**

| Exhibit                No. |   | Description                                           |   | Where                Found     |
|----------------------------|--------|-------------------------------------------------------|--------|--------------------------------|
|                       |   |                                                  |   |                           |
| 31.1                       |   | Rule                13a-14(a)/15d14(a) Certifications |   | Attached                Hereto |
|                       |   |                                                  |   |                           |
| 32.1                       |   | Section                1350 Certifications            |   | Attached                Hereto |

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|         |                                                                                                                                                                                                                                                                                                                                                                                                       |                               |
|--------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------|
|         | BLACK                SEA OIL, INC.                                                                                                                                                                                                                                                                                                                                                                         |
|    |                                                                                                                                                                                                                                                                                                                                                                                                  |                          |
|              | By:                                                                                                                                                                                                                                                                                                                                                                                              | /s/                Marcus U. Segal |
|         | Name:                Marcus U. SegalTitle:                Chief Executive Officer, President,                         Chief Financial Officer and Director                         (Principal Executive, Financial, and                         Accounting Officer) |
|         |                                                                                                                                                                                                                                                                                                                                                                                                            |

----