**FORM      10-QSB**

**0-21847**

**BOULDER      CAPITAL OPPORTUNITIES, II, INC.**

| **Colorado**                                |   | **84-1356898**                     |
|---------------------------------------------|--------|------------------------------------|
| (State                or other jurisdiction |   | (IRS                Employer       |
| of                Incorporation)            |   | Identification                No.) |

*-          1          -*

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*-          2          -*

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*-          3          -*

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*-            4            -*

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|                                                                                                                  |   | (Restated)                 |     |                          |   |
|-----------------------------------------------------------------------------------------------------------------------|--------|----------------------------|----------|-------------------------------|--------|
|                                                                                                                  |   | Unaudited                  |     | Audited                       |   |
|                                                                                                                  |   | March                  31, |     | December                  31, |   |
|                                                                                                                  |   | 2006                       |     | 2005                          |   |
|                                                                                                                  |   |                       |     |                          |   |
| **ASSETS**                                                                                                            |   |                       |     |                          |   |
|                                                                                                                  |   |                       |     |                          |   |
|     Current                  Assets:                                                              |   |                       |     |                          |   |
|         Cash                                                                  |   | $                          | 22,736   |                          | $      | 37,184 |   |
|         Accounts                  Receivable                                  |   |                       | -        |                          |   | - |   |
|             Total                  Current Assets         |   |                       | 22,736   |                          |   | 37,184 |   |
|                                                                                                                  |   |                       |     |                          |   |   |   |
|     Other                  Assets:                                                                |   |                       |     |                          |   |   |   |
|         Rent                  Deposit                                         |   |                       | 2,500    |                          |   | 2,500 |   |
|         Undeveloped                  Oil                  Leases              |   |                       | 20,000   |                          |   | 20,000 |   |
|             Total                  Other Assets           |   |                       | 22,500   |                          |   | 22,500 |   |
|                                                                                                                  |   |                       |     |                          |   |   |   |
| **TOTAL                  ASSETS**                                                                                     |   | $                          | 45,236   |                          | $      | 59,684 |   |
|                                                                                                                  |   |                       |     |                          |   |   |   |
| **STOCKHOLDERS'                  EQUITY**                                                                             |   |                       |     |                          |   |   |   |
|                                                                                                                  |   |                       |     |                          |   |   |   |
| Stockholders'                  Equity                                                                                 |   |                       |     |                          |   |   |   |
|                                                                                                                  |   |                       |     |                          |   |   |   |
|     Preferred                  Stock, no par value,10,000,000 shares authorized                   |   |                       |     |                          |   |   |   |
|                          none issued or outstanding                                |   |                       | -        |                          |   | - |   |
|     Common                  Stock, no par value, 100,000,000 shares authorized                    |   |                       |     |                          |   |   |   |
|                          3,182,203 shares issued and outstanding at March 2006 and |   |                       | 229,384  |                          |   | 144,164 |   |
|                          December 31, 2005.                                        |   |                       |     |                          |   |   |   |
|     Stock                  to be issued                                                           |   |                       | 5,000    |                          |   | 85,200 |   |
|     Deficit                  accumulated during the exploration stage                             |   |                       | (189,148 | )                             |   | (169,680 | ) |
|                                                                                                                  |   |                       |     |                          |   |   |   |
| **Total                  Shareholders' Equity**                                                                       |   |                       | 45,236   |                          |   | 59,684 |   |
|                                                                                                                  |   |                       |     |                          |   |   |   |
| **TOTAL                  STOCKHOLDERS' EQUITY**                                                                       |   | $                          | 45,236   |                          | $      | 59,684 |   |

*-          5          -*

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|                                                                  |   | (Restated)                          |      | August                  6, 1996 |   |
|-----------------------------------------------------------------------|--------|-------------------------------------|-----------|---------------------------------|--------|
|                                                                  |   | Three-Months                  Ended |      | Inception                  to   |   |
|                                                                  |   | March                  31,          |      | March                  31,      |   |
|                                                                  |   | 2006                                |      | 2005                            |   | 2006 |   |
|                                                                  |   |                                |      |                            |   |   |   |
| **Revenue:**                                                          |   |                                |      |                            |   |   |   |
| **     **Rental                  Income      |   | $                                   | -         |                            | $      | - |   | $ | 5,000 |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Total                  Income**                                     |   |                                | -         |                            |   | - |   |   | 5,000 |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Costs                  and Expenses:**                              |   |                                |      |                            |   |   |   |   |   |   |
|     Amortization                                  |   |                                | -         |                            |   | - |   |   | 28,400 |   |
|     Professional                  Fees            |   |                                | 11,270    |                            |   | - |   |   | 116,857 |   |
|     General                  and Admnistrative    |   |                                | 8,198     |                            |   | - |   |   | 48,967 |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Total                  Operating Expenses**                         |   |                                | 19,468    |                            |   | - |   |   | 194,224 |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Other                  Income/Expenses**                            |   |                                |      |                            |   |   |   |   |   |   |
| **     **Interest                  Income    |   |                                | -         |                            |   | - |   |   | 76 |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Total                  Other Income/Expenses**                      |   |                                | -         |                            |   | - |   |   | 76 |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Net                  Loss**                                         |   | $                                   | (19,468   | )                               | $      | - |   | $ | (189,148 | ) |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| **Per                  Share Information:**                           |   |                                |      |                            |   |   |   |   |   |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
|     Weighted                  average number      |   |                                |      |                            |   |   |   |   |   |   |
|     of                  common shares outstanding |   |                                | 2,478,111 |                            |   | 2,230,200 |   |   |   |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| Net                  Loss per common share                            |   | $                                   | (0.008    | )                               | $      | - |   |   |   |   |
|                                                                  |   |                                |      |                            |   |   |   |   |   |   |
| *                  Less than $.01                                     |   |                                |      |                            |   |   |   |   |   |   |

*-          6          -*

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|                                                |   | (Restated)                     |      |   |   |                       |   | Deficit                        |    |          |   |
|-----------------------------------------------------|--------|--------------------------------|-----------|--------|--------|----------------------------|--------|--------------------------------|---------|---------------|--------|
|                                                |   | COMMON                  STOCKS |      |   |   |                       |   | Accum.                  During |    | Total         |   |
|                                                |   |                           |      |   |   | Stocks                  to |   | Exploration                    |    | Stockholders' |   |
|                                                |   | #                  of Shares   |      | Amount |   | be                  Issued |   | Stage                          |    | Equity        |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |
| Balance                  - August 8, 1996           |   |                           | -         |   | $      | -                          |   | $                              | -       |          | $      | - |   | $ | - |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Issuance                  of stock for compensation |   |                           | 710,000   |   |   | 28,400                     |   |                           | -       |          |   | - |   |   | 28,400 |   |
| Issuance                  of stock for cash         |   |                           | 100,000   |   |   | 4,000                      |   |                           | -       |          |   | - |   |   | 4,000 |   |
| Issuance                  of stock for cash         |   |                           | 200,000   |   |   | 8,000                      |   |                           | -       |          |   | - |   |   | 8,000 |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (6,448 | ) |   | (6,448 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 1996        |   |                           | 1,010,000 |   |   | 40,400                     |   |                           | -       |          |   | (6,448 | ) |   | 33,952 |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Issuance                  of stock for compensation |   |                           | 20,200    |   |   | 20,200                     |   |                           | -       |          |   | - |   |   | 20,200 |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (32,493 | ) |   | (32,493 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 1997        |   |                           | 1,030,200 |   |   | 60,600                     |   |                           | -       |          |   | (38,941 | ) |   | 21,659 |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Additional                  Paid-In Capital         |   |                           | -         |   |   | 5,564                      |   |                           | -       |          |   | - |   |   | 5,564 |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (12,792 | ) |   | (12,792 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 1998        |   |                           | 1,030,200 |   |   | 66,164                     |   |                           | -       |          |   | (51,733 | ) |   | 14,431 |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (17,940 | ) |   | (17,940 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 1999        |   |                           | 1,030,200 |   |   | 66,164                     |   |                           | -       |          |   | (69,673 | ) |   | (3,509 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Issuance                  of stock for compensation |   |                           | 1,200,000 |   |   | 48,000                     |   |                           | -       |          |   | - |   |   | 48,000 |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (48,000 | ) |   | (48,000 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 2000        |   |                           | 2,230,200 |   |   | 114,164                    |   |                           | -       |          |   | (117,673 | ) |   | (3,509 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | - |   |   | - |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 2001        |   |                           | 2,230,200 |   |   | 114,164                    |   |                           | -       |          |   | (117,673 | ) |   | (3,509 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | - |   |   | - |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 2002        |   |                           | 2,230,200 |   |   | 114,164                    |   |                           | -       |          |   | (117,673 | ) |   | (3,509 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (8,700 | ) |   | (8,700 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 2003        |   |                           | 2,230,200 |   |   | 114,164                    |   |                           | -       |          |   | (126,373 | ) |   | (12,209 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (13,865 | ) |   | (13,865 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 2004        |   |                           | 2,230,200 |   |   | 114,164                    |   |                           | -       |          |   | (140,238 | ) |   | (26,074 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Stock                  issued for cash              |   |                           | 200,000   |   |   | 30,000                     |   |                           |    |          |   | - |   |   | 30,000 |   |
| Stock                  to be issued                 |   |                           | -         |   |   | -                          |   |                           | 85,200  |          |   | - |   |   | 85,200 |   |
| Net                  Loss for Year                  |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (29,442 | ) |   | (29,442 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - December 31, 2005        |   |                           | 2,430,200 |   |   | 144,164                    |   |                           | 85,200  |          |   | (169,680 | ) |   | 59,684 |   |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Issuance                  of stock for cash         |   |                           | 552,003   |   |   | 85,200                     |   |                           | (85,200 | )             |   | - |   |   | - |   |
| Issuance                  of stock for services     |   |                           | 200,000   |   |   | 20                         |   |                           | -       |          |   | - |   |   | 20 |   |
| Stock                  to be issued                 |   |                           | -         |   |   | -                          |   |                           | 5,000   |          |   |   |   |   | 5,000 |   |
| Net                  loss for Period                |   |                           | -         |   |   | -                          |   |                           | -       |          |   | (19,468 | ) |   | (19,468 | ) |
|                                                |   |                           |      |   |   |                       |   |                           |    |          |   |   |   |   |   |   |
| Balance                  - March 31, 2006           |   |                           | 3,182,203 |   | $      | 229,384                    |   | $                              | 5,000   |          | $      | (189,148 | ) | $ | 45,236 |   |

*-          7          -*

----

|                                                                                                        |   | (Restated)                          |    |   | August                  6, 1996 |                            |
|-------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|---------|--------|---------------------------------|---------------------------------|
|                                                                                                        |   | Three-Months                  Ended |    |   |                            | (Inception)                  to |   |
|                                                                                                        |   | March                  31,          |    |   |                            | March                  31,      |   |
|                                                                                                        |   | 2006                                |    | 2005   |                            | 2006                            |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |
| **Cash                  Flows from Operating Activities:**                                                  |   |                                |    |   |                            |                            |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |
|     Net                  (Loss)                                                         |   | $                                   | (19,468 | )      | $                               | -                               |   | $ | (189,148 | ) |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
|     Stock                  issued for services                                          |   |                                | 20      |   |                            | -                               |   |   | 66,620 |   |
|     Amortization                                                                        |   |                                | -       |   |                            | -                               |   |   | 28,400 |   |
|     Adjustments                  to                  reconcile net loss to cash used by |   |                                |    |   |                            |                            |   |   |   |   |
|       by                  operating                  activities               |   |                                |    |   |                            |                            |   |   |   |   |
|     (Increase)                  in                  Rent Deposit                        |   |                                | -       |   |                            | -                               |   |   | (2,500 | ) |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Net                  Cash Used in Operating Activities**                                                  |   |                                | (19,448 | )      |                            | -                               |   |   | (96,628 | ) |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Cash                  Flows from Investing Activities:**                                                  |   |                                |    |   |                            |                            |   |   |   |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
|     Acquisition                  of                  Oil Leases                         |   |                                | -       |   |                            | -                               |   |   | (20,000 | ) |
|     Acquisition                  of                  organizational services            |   |                                | -       |   |                            | -                               |   |   | (28,400 | ) |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Net                  Cash Used for Investing Activities**                                                 |   |                                | -       |   |                            | -                               |   |   | (48,400 | ) |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Cash                  Flows from Financing Activities:**                                                  |   |                                |    |   |                            |                            |   |   |   |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
|     Stocks                  to be issued                                                |   |                                | 5,000   |   |                            | -                               |   |   | 5,000 |   |
|     Issuance                  of                  common stock                          |   |                                | -       |   |                            | -                               |   |   | 30,000 |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   | 132,764 |   |
| **Net                  Cash Provided by Finacing Activities**                                               |   |                                | 5,000   |   |                            | -                               |   |   | 167,764 |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Net                  Increase in Cash & Cash Equivalents**                                            |   |                                | (14,448 | )      |                            | -                               |   |   | 22,736 |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Beginning                  Cash & Cash Equivalents**                                                  |   |                                | 37,184  |   |                            | -                               |   |   | - |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **Ending                  Cash & Cash Equivalents**                                                     |   | $                                   | 22,736  |   | $                               | -                               |   | $ | 22,736 |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **SUPPLEMENTAL                  DISCLOSUE OF CASH FLOW INFORMATION**                                        |   |                                |    |   |                            |                            |   |   |   |   |
|     Cash                  paid for interest                                             |   | $                                   | -       |   | $                               | -                               |   | $ | - |   |
|     Cash                  paid for Income Taxes                                         |   | $                                   | -       |   | $                               | -                               |   | $ | - |   |
|                                                                                                        |   |                                |    |   |                            |                            |   |   |   |   |
| **NON-CASH                  TRANSACTIONS**                                                                  |   |                                |    |   |                            |                            |   |   |   |   |
|     Common                  stock issued for services                                   |   | $                                   | -       |   | $                               | -                               |   | $ | 66,600 |   |

*-          8          -*

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*-          9          -*

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*-          10          -*

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|                                     |                                                   |                                  |
|------------------------------------------|--------------------------------------------------------|---------------------------------------|
|                                     | BOULDER                CAPITAL OPPORTUNITIES, II, INC. |
|                                |                                              |                             |
| Date: February              5, 2007 | By:                                          | /s/ Michael              Delaney |
|                                     | Michael              Delaney, President                |
|                                     |                                                   |

*-          11          -*

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