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| Nevada                                                         | 61-1500382                        |
|----------------------------------------------------------------|-----------------------------------|
| (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) |

| Large accelerated filer | Accelerated filer           |
|-------------------------|-----------------------------|
| Non-accelerated filer   | P Smaller reporting company |

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|     |                  | Page                                                                                                                                                                                                                                                                 |
|----------|-----------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|     |                  |                                                                                                                                                                                                                                                                 |
| PART 1.  | FINANCIAL INFORMATION |                                                                                                                                                                                                                                                                 |
|     |                  |
|     | ITEM 1.               | FINANCIAL STATEMENTS                                                                                                                                                                                                                                                 |   |
|     |                  |  Condensed Balance Sheets as of January 31, 2011 (Unaudited) and April 30, 2010                                                                                                                                                                                 |  3 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     |                  | Condensed Statements of Operations for the three months ended January 31, 2011 and 2010,  for the nine months ended  January 31, 2011 and 2010 and for the cumulative period from June 19, 1997 (inception) through January 31, 2011 (Unaudited) |   4 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     |                  | Condensed Statements of Cash Flows for the nine months ended January 31, 2011 and 2010, and for the cumulative period from June 19, 1997 (inception) through January 31, 2011 (Unaudited)                                                                            |  5 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     |                  | Condensed Statement of Shareholders’ Equity for the nine months ended January 31, 2011 and the cumulative period from June 19, 1997 (inception) to January 31, 2011 (Unaudited)                                                                                |  6 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     |                  | Notes to Unaudited Condensed Financial Statements                                                                                                                                                                                                                    | 7 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 2.               | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                                                                                                          | 16 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 4T.              | CONTROLS AND PROCEDURES                                                                                                                                                                                                                                              | 21 |
|     |                  |
| PART II. | OTHER INFORMATION     | 22                                                                                                                                                                                                                                                                   |
|     |                  |
|     | ITEM 1.               | Legal Proceedings                                                                                                                                                                                                                                                    | 22 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 2.               | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                                                                                          | 22 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 3.               | Default Upon Senior Securities                                                                                                                                                                                                                                       | 22 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 4.               | Submission of Matters to a Vote of Security Holders                                                                                                                                                                                                                  | 22 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 5.               | Other Information                                                                                                                                                                                                                                                    | 22 |
|     |                  |                                                                                                                                                                                                                                                                 |   |
|     | ITEM 6.               | EXHIBITS                                                                                                                                                                                                                                                             | 22 |
|     |                  |
|     | SIGNATURES            | 23                                                                                                                                                                                                                                                                   |

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| ITEM 1. | FINANCIAL STATEMENTS. |
|---------|-----------------------|

| BIG CAT ENERGY CORPORATION                                                                                                                                                    |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                                                                                                                 |   |
| Condensed Balance Sheets                                                                                                                                                      |   |
|                                                                                                                                                                          |   |
|                                                                                                                                                                          |   |
|                                                                                                                                                                          |   |
|                                                                                                                                                                          |   | January 31, 2011(unaudited) |   |   | April 30, 2010 |
| Assets                                                                                                                                                                        |   |   |   |   |   |
| Current assets:                                                                                                                                                               |   |   |   |   |   |
| Cash and cash equivalents                                                                                                                                                     |   | $ | 25,055 |   |   | $ | 192,312 |   |
| Accounts receivable-trade                                                                                                                                                     |   |   | 50,081 |   |   |   | -- |   |
| Securities available for sale                                                                                                                                                 |   |   | 739,180 |   |   |   | -- |   |
| Prepaid expenses and other current assets                                                                                                                                     |   |   | 7,254 |   |   |   | 8,878 |   |
| Total current assets                                                                                                                                                          |   |   | 821,570 |   |   |   | 201,190 |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Property, plant and equipment, at cost:                                                                                                                                       |   |   |   |   |   |   |   |   |
| Equipment held  for sale                                                                                                                                            |   |   | 23,135 |   |   |   | 20,118 |   |
| Equipment installed                                                                                                                                                           |   |   | 2,515 |   |   |   | 7,544 |   |
| Furniture and equipment, net of accumulated depreciation                                                                                                                      |   |   | 7,210 |   |   |   | 9,983 |   |
|                             Total |   |   | 32,860 |   |   |   | 37,645 |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Intangible assets, net                                                                                                                                                        |   |   | 107,407 |   |   |   | 99,465 |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Total assets                                                                                                                                                                  |   | $ | 961,837 |   |   | $ | 338,300 |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Liabilities and Shareholders’ Equity (Deficit)                                                                                                                          |   |   |   |   |   |   |   |   |
| Current liabilities:                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Accounts payable and accrued liabilities                                                                                                                                      |   | $ | 74,899 |   |   | $ | 16,104 |   |
| Deferred salary                                                                                                                                                               |   |   | 108,250 |   |   |   | 96,250 |   |
| Deferred revenue                                                                                                                                                              |   |   | 12,500 |   |   |   | 59,375 |   |
| Total current liabilities                                                                                                                                                     |   |   | 195,649 |   |   |   | 171,729 |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Shareholders’ equity (deficit):                                                                                                                                         |   |   |   |   |   |   |   |   |
| Common stock, $.0001 par value; 100,000,000 shares authorized,                                                                                                                |   |   |   |   |   |   |   |   |
| 67,590,403 and 43,481,000 shares issued and outstanding                                                                                                                       |   |   |   |   |   |   |   |   |
| at January 31, 2011 and April 30, 2010 respectively                                                                                                                           |   |   | 6,759 |   |   |   | 4,348 |   |
| Additional paid-in capital                                                                                                                                                    |   |   | 12,508,825 |   |   |   | 11,171,937 |   |
| Other comprehensive income                                                                                                                                                    |   |   | 221,754 |   |   |   | -- |   |
| Deficit accumulated during development stage                                                                                                                                  |   |   | (11,971,150 | ) |   |   | (11,009,714 | ) |
| Total shareholders’ equity                                                                                                                                              |   |   | 766,188 |   |   |   | 166,571 |   |
|                                                                                                                                                                          |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                                                                                                                              |   | $ | 961,837 |   |   | $ | 338,300 |   |

----

| BIG CAT ENERGY CORPORATION                                             |   |
|------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                          |   |
| Condensed Statements of Operations                                     |   |
| (Unaudited)                                                            |   |
|                                                                   |   |
|                                                                   |   |   |   |   |   |   | June 19, 1997 |   |
|                                                                   |   | For the Three Months |   |   | For the Nine Months |   | (Inception) |   |
|                                                                   |   | Ended |   |   | Ended |   | Through |   |
|                                                                   |   | January 31, |   |   | January 31, |   |   | January 31, |   |
|                                                                   |   | 2011 |   |   | 2010 |   |   | 2011 |   |   | 2010 |   |   | 2011 |   |
| Revenues                                                               |   | $ | 65,387 |   |   | $ | 25,000 |   |   | $ | 118,342 |   |   | $ | 70,168 |   |   | $ | 336,623 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Costs and expenses:                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Personnel costs                                                        |   |   | 489,106 |   |   |   | 126,572 |   |   |   | 706,879 |   |   |   | 426,246 |   |   |   | 8,869,459 |   |
| Professional fees                                                      |   |   | 24,585 |   |   |   | 58,825 |   |   |   | 116,646 |   |   |   | 181,893 |   |   |   | 840,294 |   |
| Research and development                                               |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | 1,991 |   |   |   | 14,010 |   |
| Selling expense                                                        |   |   | 106,947 |   |   |   | 62,342 |   |   |   | 219,738 |   |   |   | 196,382 |   |   |   | 1,067,506 |   |
| Depreciation and amortization                                          |   |   | 2,461 |   |   |   | 2,158 |   |   |   | 7,259 |   |   |   | 6,172 |   |   |   | 29,287 |   |
| Other operating supplies                                               |   |   | 2,845 |   |   |   | 207 |   |   |   | 2,845 |   |   |   | 1,880 |   |   |   | 7,510 |   |
| General and administrative                                             |   |   | 12,892 |   |   |   | 26,121 |   |   |   | 45,327 |   |   |   | 86,789 |   |   |   | 672,209 |   |
| Total Expenses                                                         |   |   | 638,836 |   |   |   | 276,225 |   |   |   | 1,098,694 |   |   |   | 901,353 |   |   |   | 11,500,275 |   |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| LOSS BEFORE OTHER INCOME                                               |   |   | (573,449 | ) |   |   | (251,225 | ) |   |   | (980,352 | ) |   |   | (831,185 | ) |   |   | (11,163,652 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                        |   |   | 94 |   |   |   | 2,391 |   |   |   | 583 |   |   |   | 7,441 |   |   |   | 124,350 |   |
| Litigation proceeds                                                    |   |   | -- |   |   |   | -- |   |   |   | 30,000 |   |   |   | -- |   |   |   | 30,000 |   |
| Stock issued below fair value                                          |   |   | (11,667 | ) |   |   | -- |   |   |   | (11,667 | ) |   |   | -- |   |   |   | (11,667 | ) |
| (Loss) on valuation from private placement                             |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | (433,000 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss before discontinued operations                                    |   |   | (585,022 | ) |   |   | (248,834 | ) |   |   | (961,436 | ) |   |   | (823,744 | ) |   |   | (11,453,969 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss on discontinued operations                                        |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   | (517,181 | ) |
| Net (Loss)                                                             |   | $ | (585,022 | ) |   | $ | (248,834 | ) |   | $ | (961,436 | ) |   | $ | (823,744 | ) |   | $ | (11,971,150 | ) |
|                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss per share from continuing operations                          |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | (0.02 | ) |   | $ | (0.02 | ) |   |   |   |   |
| Net loss per share-discontinued operations                             |   |   |   |   |   |   | -- |   |   |   | -- |   |   |   | -- |   |   |   |   |   |
| Net loss per share, basic and dilutive                                 |   | $ | (0.01 | ) |   | $ | (0.01 | ) |   | $ | (0.02 | ) |   | $ | (0.02 | ) |   |   |   |   |
| Weighted average number of common shares outstanding-basic and diluted |   |   |   57,361,262 |   |   |   |   42,041,000 |   |   |   |   48,349,977 |   |   |   |   38,816,362 |   |   |   |   |   |

----

| BIG CAT ENERGY CORPORATION                                                                     |   |
|------------------------------------------------------------------------------------------------|--------|
| (A Development Stage Company)                                                                  |   |
| Condensed Statements of Cash Flows                                                             |   |
| (Unaudited)                                                                                    |   |
|                                                                                           |   |
|                                                                                           |   | For the Nine months endedJanuary 31, |   |   | June 19, 1997(Inception)ThroughJanuary 31, |   |
|                                                                                           |   | 2011 |   |   | 2010 |   |   | 2011 |   |
| Cash Flows From Operating Activities:                                                          |   |   |   |   |   |   |   |   |   |
| Net Loss                                                                                       |   | $ | (961,436 | ) |   | $ | (823,744 | ) |   | $ | (11,971,150 | ) |
| Adjustments to reconcile net loss to net cash used by operating activities:                    |   |   |   |   |   |   |   |   |   |   |   |   |
|      Depreciation and amortization                                    |   |   | 7,259 |   |   |   | 6,172 |   |   |   | 29,287 |   |
|      Stock based compensation                                         |   |   | 605,206 |   |   |   | 107,215 |   |   |   | 6,470,396 |   |
|      Stock in lieu of payment                                         |   |   | 16,667 |   |   |   | -- |   |   |   | 28,667 |   |
|      Contributed services and other                                   |   |   | -- |   |   |   | -- |   |   |   | 10,425 |   |
|      Cash flow from discontinued operations                           |   |   | -- |   |   |   | -- |   |   |   | 833,369 |   |
|      Changes in operating assets and liabilities:                     |   |   |   |   |   |   |   |   |   |   |   |   |
|          Accounts receivable                      |   |   | (50,081 | ) |   |   | (95,453 | ) |   |   | (50,081 | ) |
|          Trading securities                       |   |   | -- |   |   |   | 356,487 |   |   |   | -- |   |
|          Prepaid and other                        |   |   | 1,624 |   |   |   | 10,878 |   |   |   | (7,254 | ) |
|          Deferred revenue                         |   |   | (46,875 | ) |   |   | 35,625 |   |   |   | 12,500 |   |
|          Deferred salaries                        |   |   | 12,000 |   |   |   | 66,250 |   |   |   | 108,250 |   |
|          Accounts payable and accrued liabilities |   |   | 58,795 |   |   |   | (21,512 | ) |   |   | 74,899 |   |
| Net cash (used in) operating activities                                                        |   |   | (356,841 | ) |   |   | (358,082 | ) |   |   | (4,460,692 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Purchase of unproven oil and gas properties                                                    |   |   | -- |   |   |   | -- |   |   |   | (1,794,231 | ) |
| (Purchase) sale of  equipment held for sale                                          |   |   | 2,012 |   |   |   | -- |   |   |   | (25,650 | ) |
| Equipment purchases                                                                            |   |   | -- |   |   |   | (995 | ) |   |   | (18,941 | ) |
| Other assets                                                                                   |   |   | (12,428 | ) |   |   | (19,005 | ) |   |   | (100,974 | ) |
| Cash used in discontinued operations                                                           |   |   | -- |   |   |   | -- |   |   |   | (133,757 | ) |
| Net cash (used in) investing activities                                                        |   |   | (10,416 | ) |   |   | (20,000 | ) |   |   | (2,073,553 | ) |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                          |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds from related party advances                                                           |   |   | 11,000 |   |   |   | -- |   |   |   | 62,618 |   |
| Repayment of related party advances                                                            |   |   | (11,000 | ) |   |   | -- |   |   |   | (40,036 | ) |
| Proceeds from the sale of common stock                                                         |   |   | 200,000 |   |   |   | 500,000 |   |   |   | 6,307,901 |   |
| Payments for offering costs                                                                    |   |   | -- |   |   |   | -- |   |   |   | (21,752 | ) |
| Cash flow provided by discontinued operations                                                  |   |   | -- |   |   |   | -- |   |   |   | 250,569 |   |
| Net cash provided by                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| financing activities                                                                           |   |   | 200,000 |   |   |   | 500,000 |   |   |   | 6,559,300 |   |
| Net Increase (decrease) in cash and                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| cash equivalents                                                                               |   |   | (167,257 | ) |   |   | 121,918 |   |   |   | 25,055 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and cash equivalents:                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Beginning of period                                                                            |   |   | 192,312 |   |   |   | 117,245 |   |   |   | -- |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| End of period                                                                                  |   | $ | 25,055 |   |   | $ | 239,163 |   |   | $ | 25,055 |   |
|                                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Noncash investing and financing transactions:                                                  |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock received as payment on private placement                                                 |   | $ | 517,426 |   |   | $ | -- |   |   | $ | 517,426 |   |
|  Forgiveness of debt by related party, accounted for as  Capital contributed    |   | $ | -- |   |   | $ | -- |   |   | $ | 22,582 |   |
| Stock issued to related party for ARID  technology                                   |   | $ | -- |   |   | $ | -- |   |   | $ | 23,990 |   |
| Spin off of Sterling Oil & Gas                                                             |   | $ | -- |   |   | $ | -- |   |   | $ | 1,794,231 |   |

----

|                                                                                      |   | Common Stock |                   |   | Additional |   |       | Deficit Incurred During |    |   | OtherCompre-        |   |   |    |            |
|-------------------------------------------------------------------------------------------|--------|--------------|------------------------|--------|------------|--------|------------|-------------------------|---------|--------|---------------------|--------|--------|---------|-----------------|
|                                                                                      |   |         |                   |   | Par value  |   |       | Paid-in                 |    |   | Development         |   |   | hensive |            |   |   |   |
|                                                                                      |   | Shares       |                   |   | $          | .0001  |       |                    | Capital |   |                | Stage  |   |    | Income          |   |   | Total |   |
|                                                                                      |   |         |                   |   |       |   |       |                    |    |   |                |   |   |    |            |   |   |   |   |
| Balance, at Inception (June 19, 1997)                                                     |   |         |                   |   |       |   |       |                    |    |   |                |   |   |    |            |   |   |   |   |
| Stock issued for services upon inception at June 19, 1997 issued at par                   |   |         | 500,000                |   |       | $      | 50         |                    |    | $      | –             |   |   | $       | –         |   |   | $ | -- |   |   | $ | 50 |   |
| Common stock cancelled March 2002                                                         |   |         | (500,000               | )      |       |   | (50        | )                       |    |   | –             |   |   |    | –         |   |   |   | -- |   |   |   | (50 | ) |
| Sale of common stock at $0.10 per share, April  2002                            |   |         | 1,114,000              |   |       |   | 111        |                    |    |   | 111,289             |   |   |    | –         |   |   |   |  -- |   |   |   | 111,400 |   |
| Contributed services (January  2000 through April  2003)              |   |         | –                |   |       |   | –    |                    |    |   | 10,425              |   |   |    | –         |   |   |   |  -- |   |   |   | 10,425 |   |
| Cumulative net loss                                                                       |   |         | –                |   |       |   | –    |                    |    |   | –             |   |   |    | (132,543        | ) |   |   | -- |   |   |   | (132,543 | ) |
|                                                                                      |   |         |                   |   |       |   |       |                    |    |   |                |   |   |    |            |   |   |   |   |   |   |   |   |   |
| Balance, April 30, 2005                                                                   |   |         | 1,114,000              |   |       |   | 111        |                    |    |   | 121,714             |   |   |    | (132,543        | ) |   |   | -- |   |   |   | (10,718 | ) |
| Sale of common stock (March through April  2006) at $0.05 per share             |   |         | 7,400,000              |   |       |   | 740        |                    |    |   | 369,260             |   |   |    | –         |   |   |   |  -- |   |   |   | 370,000 |   |
| Sale of common stock (March 2006 at $0.01 per share                                       |   |         | 2,500,000              |   |       |   | 250        |                    |    |   | 24,750              |   |   |    | --              |   |   |   |  -- |   |   |   | 25,000 |   |
| Common stock issued in exchange for assets                                                |   |         | 12,450,000             |   |       |   | 1,245      |                    |    |   | 22,745              |   |   |    | --              |   |   |   |  -- |   |   |   | 23,990 |   |
| Net loss                                                                                  |   |         | –                |   |       |   | –    |                    |    |   | –             |   |   |    | (145,182        | ) |   |   | -- |   |   |   | (145,182 | ) |
|                                                                                      |   |         |                   |   |       |   |       |                    |    |   |                |   |   |    |            |   |   |   |   |   |   |   |   |   |
| Balance, April 30, 2006                                                                   |   |         | 23,464,000             |   |       |   | 2,346      |                    |    |   | 538,469             |   |   |    | (277,725        | ) |   |   | -- |   |   |   | 263,090 |   |
| Sale of common stock (May through June 2006) at $0.50 per share                           |   |         | 4,065,000              |   |       |   | 407        |                    |    |   | 2,032,093           |   |   |    | –         |   |   |   |  -- |   |   |   | 2,032,500 |   |
| Sale of common stock (January 2007) at $0.75 per share                                    |   |         | 2,012,000              |   |       |   | 201        |                    |    |   | 1,508,799           |   |   |    | –         |   |   |   |  -- |   |   |   | 1,509,000 |   |
| Offering costs                                                                            |   |         | –                |   |       |   | –    |                    |    |   | (21,752             | )      |   |    | –         |   |   |   | -- |   |   |   | (21,752 | ) |
| Contributed capital                                                                       |   |         | –                |   |       |   | –    |                    |    |   | 22,582              |   |   |    | –         |   |   |   | -- |   |   |   | 22,582 |   |
| Stock-based compensation                                                                  |   |         | –                |   |       |   | –    |                    |    |   | 1,840,000           |   |   |    | –         |   |   |   | -- |   |   |   | 1,840,000 |   |
| Net loss                                                                                  |   |         | –                |   |       |   | –    |                    |    |   | –             |   |   |    | (2,639,221      | ) |   |   | -- |   |   |   | (2,639,221 | ) |
|                                                                                      |   |         |                   |   |       |   |       |                    |    |   |                |   |   |    |            |   |   |   |   |   |   |   |   |   |
| Balance, April 30, 2007                                                                   |   |         | 29,541,000             |   |       |   | 2,954      |                    |    |   | 5,920,191           |   |   |    | (2,916,946      | ) |   |   | -- |   |   |   | 3,006,199 |   |
| Sale of common stock (October 2007) at $1.00 per share                                    |   |         | 500,000                |   |       |   | 50         |                    |    |   | 499,950             |   |   |    | –         |   |   |   |  -- |   |   |   | 500,000 |   |
| Sale of units (April 2008) at $0.50 per unit                                              |   |         | 1,000,000              |   |       |   | 100        |                    |    |   | 499,900             |   |   |    | –         |   |   |   |  -- |   |   |   | 500,000 |   |
| Spin off Sterling subsidiary                                                              |   |         | –                |   |       |   | –    |                    |    |   | (844,050            | )      |   |    | –         |   |   |   | -- |   |   |   | (844,050 | ) |
| Stock-based compensation                                                                  |   |         | –                |   |       |   | –    |                    |    |   | 2,360,000           |   |   |    | –         |   |   |   | -- |   |   |   | 2,360,000 |   |
| Net loss                                                                                  |   |         | –                |   |       |   | –    |                    |    |   | –             |   |   |    | (4,378,294      | ) |   |   | -- |   |   |   | (4,378,294 | ) |
| Balance, April 30, 2008                                                                   |   |         | 31,041,000             |   |       |   | 3,104      |                    |    |   | 8,435,991           |   |   |    | (7,295,240      | ) |   |   | -- |   |   |   | 1,143,855 |   |
|  Sale of units (May 2008) at $0.50 per unit                                          |   |         |   1,000,000  |   |       |   |  100  |                    |    |   |   499,900 |   |   |    |    -- |   |   |   |    -- |   |   |   |   500,000 |   |
| Stock based compensation                                                                  |   |         | --                     |   |       |   | --         |                    |    |   | 1,543,625           |   |   |    | --              |   |   |   | -- |   |   |   | 1,543,625 |   |
| Net loss                                                                                  |   |         | --                     |   |       |   | --         |                    |    |   | --                  |   |   |    | (2,664,180      | ) |   |   | -- |   |   |   | (2,664,180 | ) |
| Balance, April 30, 2009                                                                   |   |         | 32,041,000             |   |       |   | 3,204      |                    |    |   | 10,479,516          |   |   |    | (9,959,420      | ) |   |   |   |   |   |   | 523,300 |   |
|  Sale of units (July 2009) at $0.05 per unit                                         |   |         |   10,000,000 |   |       |   |  1000 |                    |    |   |   499,000 |   |   |    |    -- |   |   |   |    -- |   |   |   |   500,000 |   |
| Sale of units (April 2010) at $0.05 per unit                                              |   |         | 1,200,000              |   |       |   | 120        |                    |    |   | 59,880              |   |   |    | --              |   |   |   | -- |   |   |   | 60,000 |   |
| Stock in lieu of payment at $0.05 per share                                               |   |         | 240 000                |   |       |   | 24         |                    |    |   | 11,976              |   |   |    | --              |   |   |   | -- |   |   |   | 12,000 |   |
| Stock based compensation                                                                  |   |         | --                     |   |       |   | --         |                    |    |   | 121,565             |   |   |    | --              |   |   |   | -- |   |   |   | 121,565 |   |
| Net loss                                                                                  |   |         | --                     |   |       |   | --         |                    |    |   | --                  |   |   |    | (1,050,294      | ) |   |   | -- |   |   |   | (1,050,294 | ) |
| Balance, April 30, 2010                                                                   |   |         | 43,481,000             |   |       |   | 4,348      |                    |    |   | 11,171,937          |   |   |    | (11,009,714     | ) |   |   | -- |   |   |   | 166,571 |   |
|   Stock in lieu of payroll at $0.09 per  share                        |   |         | 363,334                |   |       |   | 36         |                    |    |   | 32,664              |   |   |    | --              |   |   |   | -- |   |   |   | 32,700 |   |
|    Stock in lieu of  payroll at $0.10 per   share |   |         | 3,579,402              |   |       |   | 358        |                    |    |   | 357,582             |   |   |    | --              |   |   |   | -- |   |   |   | 357,940 |   |
|    Stock in lieu of payment at $0.10 per  share                  |   |         | 166,667                |   |       |   | 17         |                    |    |   | 16,650              |   |   |    | --              |   |   |   | -- |   |   |   | 16,667 |   |
|    Other comprehensive income                                              |   |         | --                     |   |       |   | --         |                    |    |   | --                  |   |   |    | --              |   |   |   | 221,754 |   |   |   | 221,754 |   |
|   Sale of units (January 2011) at $0.03 per  unit                     |   |         | 20,000,000             |   |       |   | 2,000      |                    |    |   | 715,426             |   |   |    | --              |   |   |   | -- |   |   |   | 717,426 |   |
|   Stock based compensation                                                      |   |         | --                     |   |       |   | --         |                    |    |   | 214,566             |   |   |    | --              |   |   |   | -- |   |   |   | 214,566 |   |
|   Net loss                                                                      |   |         | --                     |   |       |   | --         |                    |    |   | --                  |   |   |    | (961,436        | ) |   |   | -- |   |   |   | (961,436 | ) |
| Balance, January 31, 2011                                                                 |   |         | 67,590,403             |   |       |   | 6,759      |                    |    | $      | 12,508,825          |   |   | $       | (11,971,150     | ) |   | $ | 221,754 |   |   | $ | (766,188 | ) |

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|                          |   | Fair Value Measurements at Reporting Date Using |    |
|-------------------------------|--------|-------------------------------------------------|---------|
|    Description |   |   January 31, 2011                    |    |   | Quoted Prices in Active Markets for Identical Assets(Level 1) |   |   | Significant Other Observable Inputs (Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |
| Securities available for sale |   | $                                               | 739,180 |   |   | $ | 739,180 |   |   | $ | -- |   |   | $ | -- |   |
| Total                         |   | $                                               | 739,180 |   |   | $ | 739,180 |   |   | $ | -- |   |   | $ | -- |   |

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|                           | Year endedApril 30, 2011 | Year endedApril 30, 2010 | Year endedApril 30, 2009 |
|-------------------------------------|--------------------------|--------------------------|--------------------------|
| Expected dividend yield             | -                        | –                  | –                  |
| Expected price volatility           | 178%                     | 152%                     | 125%                     |
| Risk free interest rate             | 1.99%                    | 2.65%                    | 1.55%                    |
| Expected term of options (in years) | 5 years                  | 5 years                  | 6 years                  |

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|                                      |   | Numberof Shares |       |   | WeightedAverageExercise Price |   |    | WeightedAverageRemainingContractualTerm |   |   | AggregateIntrinsicValue |   |
|-------------------------------------------|--------|-----------------|------------|--------|------------------------------------|--------|---------|-----------------------------------------|--------|--------|-------------------------|--------|
|                                      |   |            |       |   |                               |   |    |                                    |   |   |                    |   |
| Options outstanding –May 1, 2008    |   |            | 3,160,000  |   |                               |   | .56     |                                    |   |   | 4.54                    |   |   | $ | 5,214,990 |   |
| Granted during period                     |   |            | 1,665,000  |   |                               |   | .12     |                                    |   |   | 5.00                    |   |   |   | 172,150 |   |
| Exercised during period                   |   |            | –    |   |                               |   | – |                                    |   |   | –                 |   |   |   | -- |   |
| Forfeited during period                   |   |            | –    |   |                               |   | – |                                    |   |   | –                 |   |   |   | – |   |
| Expired during period                     |   |            | –    |   |                               |   | – |                                    |   |   | –                 |   |   |   | – |   |
| Options outstanding –April 30, 2009 |   |            | 4,825,000  |   |                               |   | .42     |                                    |   |   | 5.00                    |   |   |   | 5,387,140 |   |
| Granted during period                     |   |            | 410,000    |   |                               |   | .15     |                                    |   |   | 4.68                    |   |   |   | 52,617 |   |
| Exercised during period                   |   |            | --         |   |                               |   | --      |                                    |   |   | --                      |   |   |   | -- |   |
| Forfeited during period                   |   |            | (1,300,000 | )      |                               |   | --      |                                    |   |   | --                      |   |   |   | (1,532,051 |  ) |
| Expired during period                     |   |            | --         |   |                               |   | --      |                                    |   |   | --                      |   |   |   | -- |   |
| Options outstanding-April 30, 2010        |   |            | 3,935,000  |   |                               | $      | .39     |                                    |   |   | 3.37                    |   |   |   | 3,907,705 |   |
|  Granted during period               |   |            | 200,000    |   |                               |   | .15     |                                    |   |   | 4.70                    |   |   | $ | 28,000 |   |
| Exercised during period                   |   |            | –    |   |                               |   | – |                                    |   |   | –                 |   |   |   | – |   |
| Forfeited during period                   |   |            | –    |   |                               |   | – |                                    |   |   | –                 |   |   |   | – |   |
| Expired during period                     |   |            | –    |   |                               |   | – |                                    |   |   | –                 |   |   |   | – |   |
| Options outstanding-April 30, 2011        |   |            | 4,135,000  |   |                               |   | .37     |                                    |   |   | 2.49                    |   |   | $ | 3,935,705 |   |
|                                      |   |            |       |   |                               |   |    |                                    |   |   |                    |   |   |   |   |   |
| Exercisable at April 30, 2011             |   |            | 4,135,000  |   |                               | $      | .37     |                                    |   |   | 2.49                    |   |   | $ | 3,935,705 |   |

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|               |   | January 31, 2011 |       |
|--------------------|--------|------------------|------------|
| Number of warrants |   |             | 20,173,033 |   |
| Exercise price     |   | $                | 0.15-$0.75 |   |
| Expiration dates   |   |             | 2011-2015  |   |

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|   | ITEM 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations. |
|--------|-----------------------------------------------------------------------------------------------------------------|

| §   | our future financial position, including working capital and anticipated cash flow; |
|--------------------|-------------------------------------------------------------------------------------|

| §   | the risks of the oil and gas industry, as they relate to demand for leasing the ARID tool; |
|--------------------|--------------------------------------------------------------------------------------------|

| §   | market demand; |
|--------------------|----------------|

| §   | risks and uncertainties involving geology of oil and gas deposits; |
|--------------------|--------------------------------------------------------------------|

| §   | the uncertainty of estimates and projections relating to costs and expenses; |
|--------------------|------------------------------------------------------------------------------|

| §   | health, safety and environmental risks; |
|--------------------|-----------------------------------------|

| §   | uncertainties as to the availability and cost of financing; and |
|--------------------|-----------------------------------------------------------------|

| §   | the possibility that government policies or laws may change or governmental approvals may be delayed or withheld. |
|--------------------|-------------------------------------------------------------------------------------------------------------------|

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| ITEM 4T. | CONTROLS AND PROCEDURES |
|----------|-------------------------|

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| Exhibits | Document Description                                      |
|----------|-----------------------------------------------------------|
| 31.1     | Section 302 Certification of Principal Executive Officer. |
| 31.2     | Section 302 Certification of Principal Financial Officer. |
| 32.1     | Section 906 Certification of Chief Executive Officer.     |
| 32.2     | Section 906 Certification of Chief Financial Officer.     |

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|   | BIG CAT ENERGY CORPORATION |
|--------|----------------------------|
|   |                       |   |
|   | BY:                        | /s/ Timothy Barritt |
|   |                       | Timothy Barritt, President and Principal  Executive Officer |
|   |                       |   |
|   | BY:                        | /s/ Richard G. Stifel |
|   |                       | Richard G. Stifel, Principal Accounting Officer and  Principal Financial Officer |

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