VRCI Verde Science Inc (CE)

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

[X] Quarterly Report under Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2012

[   ] Transition report under Section 13 or 15(d) of the Exchange Act

For the transition period from ______________ to ______________

Commission File Number: 333-1416686

RANGO ENERGY INC.
(Exact name of Registrant as specified in its charter)

Nevada	20-8387017
(State or other jurisdiction	(I.R.S.Employer
of incorporation or organization)	Identification No.)
213 E Arkansas Ave
Vivian, LA 71082, USA	Telephone: 318-734-4737
(Address of principal executive offices)	(Registrant's telephone number,
	including area code)

____________________________________
Former Name, Address and Fiscal Year, If Changed Since Last Report

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

We had a total of 101,088,543 shares of common stock issued and outstanding at November 12, 2012

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

Transitional Small Business Disclosure Format: Yes [   ]     No [X]

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PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The interim financial statements included herein are unaudited but reflect, in management's opinion, all adjustments, consisting only of normal recurring adjustments that are necessary for a fair presentation of our financial position and the results of our operations for the interim periods presented. Because of the nature of our business, the results of operations for the quarterly period and the nine months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the full fiscal year.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)
INTERIM BALANCE SHEETS
(Stated in US Dollars)

		September 30,			December 31,
		2012			2011
		(Unaudited)			(Audited)
ASSETS
Current
Cash	$	232,500		$	233,085
Accounts Receivable		10,213
Total Assets	$	242,713		$	233,085
LIABILITIES
Current Liabilities
Related Party Loan	$	23,777		$	6,657
Loan Payable		815			815
Deferred Gain		250,000			250,000
Accounts payable and accrued liabilities		73,039			150,404
Total Current Liabilities		347,631			407,876
Long Term Liabilities
ARO Obligation		120,000			120,000
Total Long Term Liabilities		120,000			120,000
Total Liabilities		467,631			527,876
STOCKHOLDERS' EQUITY
Common Stock, authorized 150,000,000 shares,        $0.001 par value, 101,088,543 issued and outstanding         at September 30, 2012 and 1,088,543 at December 31, 2011		101,089			1,089
Additional Paid in Capital		3,264,298			1,199,536
Accumulated comprehensive income		2,803			2,803
Deficit		(3,593,108	)		(1,498,219	)
Total Stockholders' Deficit		(224,918	)		(294,791	)
Total Liabilities and Stockholders' Deficit	$	242,713		$	233,085

The Accompanying notes are integral part of these financial statements.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)
INTERIM STATEMENTS OF OPERATIONS
(Stated in US Dollars)
(Unaudited)

		Nine Months Ended						Three Months Ended
		September 30,						September 30,
		2012			2011			2012			2011
REVENUES
Oil Revenues	$	178,055		$	150,559		$	73,482		$	50,242
Total Revenues		178,055			150,559			73,482			50,242
EXPENSES
Operations Expense		164,856			329,620			56,242			171,562
Accounting and Professional Fees		20,426			-			12,700			-
Office and Administration		2,002,900			16,685			875			6,149
Total Expenses		2,188,182			346,305			69,817			177,711
Net Income (Loss) from operations		(2,010,127	)		(195,746	)		3,665			(127,469	)
Other Income and
Expenses
Gain on sale of working interest		-			250,500			-			200,000
Interest Expense		(84,762	)		-			(922	)		-
Total Other Income and
Expenses		(84,762	)		250,500			(922	)		200,000
Net Income (Loss)		(2,094,889	)		54,754			2,743			72,531
Other comprehensive income (loss)		-			-			-			-
Total Comprehensive income (loss)		($2,094,889	)	$	54,754		$	2,743		$	72,531
Basic and diluted loss per share		($ 0.05	)	$	0.07		$	0.00		$	0.08
Weighted average # of shares outstanding		41,088,543			835,389			101,088,543			912,456

The Accompanying notes are integral part of these financial statements

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)
INTERIM STATEMENTS OF CASH FLOW
(Stated in US Dollars)
(Unaudited)

		Nine Months Ended
		September 30
		2012			2011
OPERATING ACTIVITIES
Net income (loss) for the period		($2,094,889	)	$	54,754
Adjustment for non-cash expenses
Shares issued for services		2,000,000			75,000
Amortization of Discount of Convertible Debt		80,000			-
Imputed Interest – related party		4,762			-
Change in:
Accounts Receivable		(10,213	)		(11,499	)
Accounts payable and accrued liabilities		2,635			81,027
Cash used in operating activities		(17,705	)		199,282
FINANCING ACTIVITIES
Loan Payable		17,120			1,800
Cash from Financing Activities		17,120			1,800
INCREASE (DECREASE) IN CASH FOR PERIOD		(585	)		201,082
Cash, beginning of period		233,085			1,994
Cash, end of period	$	232,500		$	203,076
Cash paid for interest	$	-		$	-
Cash paid for income tax	$	-		$	-
Non-cash Investment and Financial Activities
Transfer of accounts payable to Convertible Debt	$	80,000		$	-
Conversion of Debt for Shares	$	80,000		$	-
Beneficial Conversion Feature	$	(80,000	)	$	-

The Accompanying notes are integral part of these financial statements

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 1. DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS AND HISTORY - Avro Energy, Inc. (hereinafter referred to as the "Company") was incorporated on January 31, 2007 by filing Articles of Incorporation under the Nevada Secretary of State. The Company was formed to engage in the exploration of resource properties.

The Company is currently engaged in the acquisition, exploration and development of oil and natural gas properties in the United States ArkLaTex region. The Company seeks to develop low risk opportunities by itself or with joint venture partners in the oil and natural gas sectors.

GOING CONCERN - The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. However, the Company has accumulated a loss and is new. This raises substantial doubt about the Company's ability to continue as a going concern. The financial statements do not include any adjustments that might result from this uncertainty.

As shown in the accompanying financial statements, the Company has incurred an accumulated loss of $3,593,108 for the period from January 31, 2007 (inception) to September 30, 2012 and has generated revenues of $543,371 over the same period. The future of the Company is dependent upon its ability to obtain financing and upon future profitable operations from the development of acquisitions. Management has plans to seek additional capital through a private placement and public offering of its common stock. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

The accompanying financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at September 30, 2012, and for all periods presented herein, have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the financial statements and notes thereto included in the Company's December 31, 2011 audited financial statements. The results of operations for the period ended September 30, 2012 is not necessarily indicative of the operating results for the full year.

YEAR END - The Company's fiscal year end is December 31.

USE OF ESTIMATES - The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CASH AND CASH EQUIVALENT - The Company considers all highly liquid instruments with a maturity of three months or less at the time of issuance to be cash equivalents. As at September 30, 2012 and December 31, 2011, the Company had no cash equivalents.

REVENUE RECOGNITION - The Company uses the sales method of accounting for oil revenues. Under this method, revenues are recognized based on actual volumes of oil sold to purchasers. The volumes sold may differ from the volumes to which we are entitled based on our interests in the properties.

BENEFICIAL CONVERSION FEATURES OF DEBENTURES AND CONVERTIBLE NOTE PAYABLE - In accordance with FASB ASC 470-20, Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios, we recognize the advantageous value of conversion rights attached to convertible debt. Such rights give the debt holder the ability to convert his debt into common stock at a price per share that is less than the trading price to the public on the day the loan is made to us. The beneficial value is calculated as the intrinsic value (the market price of the stock at the commitment date in excess of the conversion rate) of the beneficial conversion feature of the debentures and related accruing interest, and is recorded as a discount to the related debt and an addition to additional paid in capital. The discount is amortized over the remaining outstanding period of related debt using the interest method.

ASSET RETIREMENT OBLIGATION (ARO) - The estimated costs of restoration and removal of facilities are accrued. The fair value of a liability for an asset's retirement obligation is recorded in the period in which it is incurred and the corresponding cost capitalized by increasing the carrying amount of the related long-lived asset. The liability is accreted to its then present value each period, if the liability is settled for an amount other than the recorded amount, a gain or loss is recognized. At September 30, 2012 and December 31, 2011, the ARO $120,000 is included in liabilities.

BASIC AND DILUTED NET LOSS PER SHARE - The Company computes net loss per share in accordance with ASC 260, Earnings per Share. ASC 260 requires presentation of both basic and diluted earnings per share (“EPS”) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. Diluted EPS excludes all dilutive potential shares if their effect is anti dilutive. As at September 30, 2012, the Company had no potentially dilutive shares.

FINANCIAL INSTRUMENTS - Pursuant to ASC 820, Fair Value Measurements and Disclosures and ASC 825, Financial Instruments, an entity is required to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 and 825 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 and 825 prioritizes the inputs into three levels that may be used to measure fair value:

Level 1
Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2
Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Level 3
Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The Company’s financial instruments consist principally of cash, accounts payable, accrued liabilities, and amounts due to related parties. Pursuant to ASC 820 and 825, the fair value of our cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. We believe that the recorded values of all of our other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations.

RESOURCE PROPERTIES - Company follows the successful efforts method of accounting for its oil and gas properties. Unproved oil and gas properties are periodically assessed and any impairment in value is charged to exploration expense. The costs of unproved properties, which are determined to be productive are transferred to proved resource properties and amortized on an equivalent unit-of-production basis. Exploratory expenses, including geological and geophysical expenses and delay rentals for unevaluated resource properties, are charged to expense as incurred. Exploratory drilling costs are initially capitalized as unproved property but charged to expense if and when the well is determined not to have found proved oil and gas reserves.

INCOME TAXES - Potential benefits of income tax losses are not recognized in the accounts until realization is more likely than not. The Company has adopted ASC 740 “Accounting for Income Taxes” as of its inception. Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. The potential benefits of net operating losses have not been recognized in this financial statement because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

NOTE 3. OIL AND GAS PROPERTIES

The value of the oil and gas properties that the company owns been expensed in accordance with Generally Accepted Accounting Principles for the industry. Currently the Company does not have proven reserves confirmed with a geological study and will only be able to capitalize properties once reserves have been proven. The company performed an impairment analysis at the end of 2009 and determined that the properties were not economically viable; at that point the company impaired the properties.

First Pacific Oil and Gas Ltd. Joint Venture
On May 24, 2011, the Company entered into a Farm-Out Agreement with First Pacific Oil and Gas Ltd. (“First Pacific”). Under this Agreement First Pacific has acquired the right to earn 50% of the Company’s working interest in its existing 12 hydrocarbon wells located in Southern Arkansas. Under this Agreement First Pacific has paid the Company $250,000; and will pay $800,000 on or before September 30, 2012. The Company retains a 50% working interest. First Pacific will earn its working interest upon improvements of the existing hydrocarbon wells being completed with the final $800,000 investment. The $250,000 received was recorded as Deferred Gain as of December 31, 2012 and September 30, 2012. As of September 30, 2012 the outstanding balance of $800,000 remains outstanding.

Hoss Holmes Lease
On August 26, 2009, the Company entered into an agreement to acquire for $100,000 the Hoss Holmes Lease located near Hosston, Louisiana, from Fredco LLC, a Louisiana private oil and gas operator. The company closed the acquisition of the property on September 30, 2009.

On February 23, 2010, the Company divested a non-core assets being the Hoss Holmes, near Hosston Louisiana for $60,000. The sale resulted in a gain on sale of $60,000 recorded as other income.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 3. OIL AND GAS PROPERTIES (CONTINUED)

Herrings Lease

On August 10, 2009, the Company entered into an agreement to acquire various oil leases near Hosston, Louisiana, from S.A.M., a Louisiana private partnership, and private oil and gas operator. Under the terms of the agreement, the Company has agreed to pay a total of ten dollars ($10) plus a one-fifth royalty interest in exchange for the exclusive grant, lease, and let of the following oil and gas leases:

One, Two, Three and Four (1-4) inclusive, Block One (1) Town of Hosston, together with all abandoned alleyways and streets insofar as it covers and affects the surface of the earth and the base of the Nacatosh Formation together with wells being Herring No. 1, Serial No 184124, and Herring No. 2, Serial No. 184735.

On September 30, 2011, the Company’s interest in the Herrings Lease and the Muslow Lease were sold for $33,000 plus a 20% royalty interest in these mineral leases. The sale resulted in a gain of $148,000 recorded as other income, which includes gain of $115,000 due to the decrease in ARO from $235,000 as of December 31, 2011 to $120,000.

Muslow Lease

On September 9, 2009, the Company entered into an agreement and acquired four oil and gas leases in Caddo Parish, Louisiana, from a private oil and gas operator for $70,000. The first three leases are the Muslow A, B, and C Leases, which in total comprise of 8 wells and equipment, of which 2 are currently producing. The fourth lease is the Caddo Levee Board Lease, comprising of 13 wells and equipment, of which 4 are currently producing.

On September 30, 2011, the Company’s interest in the Herrings Lease and the Muslow Lease were sold for $33,000 plus an option to retain 20% royalty interest in these mineral leases. The sale resulted in a gain of $148,000, which includes $115,000 gain on decrease in Assets Retirement Obligation from $235,000 in December 31, 2011 to $120,000.

Arkansas Lease

On October 24, 2009 the Company signed a letter agreement to acquire eleven producible deep oil wells north of Hosston, Louisiana, and in Southern Arkansas. Seven of these wells are in production. The deepest of these wells produce from the Smackover formation at 7800 feet. Four other wells are capable of production after work over operation has been completed. Also included with the agreement are three disposal wells.

The terms of this agreement allowed the Company to pay $385,000, over a seven month period, with the first payment of $50,000 paid on November 24, 2009. The terms of the agreement allow the Company to receive production starting from November 1, 2009. On September 30, 2010 the last payment to complete the purchase for this property was made.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 4. RELATED PARTY

The loans are payable to shareholders of $815 and $23,777 as of September 30, 2012. The loans are unsecured, are payable in five years from August 2009 and bear interest at 3%. Interest expense is imputed using 15%, as of September 30, 2012, $4,762 was recorded as and increased to additional paid-in capital.

On December 14, 2011, Donny Fitzgerald, the Company’s president advanced the Company $2,500. There is no repayment terms or interest. On August 23, 2011, the Company issued to Donny Fitzgerald, 300,000 (15,000,000 pre-reverse split) shares in exchange for services valued at $75,000. The shares issued were value based on the fair market value on the date of grant.

On May 16, 2012, 20,000,000 shares were issued to Harpeet Sangha, President; Craig Alford, Vice-president, and Hermander Rai, Chief Financial Officer. The market value of the shares at the time of issue was $0.10 per share. Consequently, consulting fees of $2,000,000 have been charged to expenses during the most recent quarter.

NOTE 5. CONVERTIBLE NOTE

On January 15, 2012, a convertible note loan from High Rig Resources Group Ltd., was secured for $80,000. The note had a maturity date of April 15, 2012 with no stated interest rate. The promissory note is convertible into the Company’s common stock at a rate of $0.001 per share. The company imputed interest based on 15% and recorded a total of $3,058 to additional paid-in capital as of September 30, 2012. The Company evaluated this convertible note for derivative liability treatment noting that if the shares were converted at a fixed price of $0.001 per share, and the principal value of $80,000, this would result in 80,000,000 shares which is 53% of the authorized share count; therefore, the number of shares is determinate and the note is not considered a derivative liability. In addition, the Company evaluated this convertible note for a beneficial conversion feature noting that the conversion price of $0.001 which is below the market price on the date of the note. A total discount of $80,000 was recorded. During the period, the note was fully converted, therefore, the total discount of $80,000 was fully amortized as of period ended September 30, 2012.

NOTE 6 - INCOME TAXES

Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The company does not have any uncertain tax positions.

The Company currently has net operating loss carry forwards aggregating $1,593,108 and $1,498,219 as at September 30, 2012 and December 31, 2011, respectively, which expire through 2029. The deferred tax asset of $541,656 related to the carry forwards has been fully reserved.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 7 – COMMON STOCK

On March 3, 2011 the Company cancelled 3,000 (150,000 pre-reverse split) share per SEC order. This was due to an investigation, by the SEC, of an unrelated party that allegedly touted U.S. microcap companies. All shares owned by the unrelated party was ordered by the SEC to be returned to their respective companies. Further, 20,000 (1,000,000 pre-reverse split) shares was cancelled due to non-performance of service contract On August 23, 2011, the Company issued 300,000 (15,000,000 pre-reverse split) shares to its Director in exchange for services valued at the fair value of the common stock as quoted on the OTC at the date of grant of $75,000.

On May 16, 2012, the Company was to issue 80,000,000 shares to repay an $80,000 promissory note. Only 60,000,000 of these shares were issued on May 16, 2012; 20,000,000 were issued on July 2, 2012.

On May 16, 2012, the Company issued 20,000,000 shares to management for services rendered. The fair market value of the Company shares at the time of issue was $0.10 per share. Consequently, value attributed to these shares was as follows:

On May 15, 2012, the Company increased its authorized capital from 100,000,000 shares of $0.001 common stock to 150,000,000 shares of $0.001 common stock.

NOTE 8. ASSET RETIREMENT OBLIGATION

The Company accounts for asset retirement obligations as required by the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 410—Asset Retirement and Environmental Obligations. Under these standards, the fair value of a liability for an asset retirement obligation is recognized in the period in which it is incurred if a reasonable estimate of fair value can be made. If a reasonable estimate of fair value cannot be made in the period the asset retirement obligation is incurred, the liability is recognized when a reasonable estimate of fair value can be made. If a tangible long-lived asset with an existing asset retirement obligation is acquired, a liability for that obligation shall be recognized at the asset's acquisition date as if that obligation were incurred on that date. In addition, a liability for the fair value of a conditional asset retirement obligation is recorded if the fair value of the liability can be reasonably estimated.

During the year ended December 31, 2010 the company incurred an accretion expense of $235,000 for the net present value cost of plugging all its oil wells upon the ending of the useful life of the wells. Due to the sale of some of the company’s mineral leases and oil wells during 2011, the company was able to reduce its ARO liability to $120,000.

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RANGO ENERGY INC.
(Formerly, Avro Energy inc.)

NOTES TO THE INTERIM FINANCIAL STATEMENTS
September 30, 2012
(Stated in US Dollars)

(Unaudited)

NOTE 9 - SUBSEQUENT EVENTS

There are no subsequent events through the date of the issuance of the financial statements that would warrant further disclosures.

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

FORWARD-LOOKING STATEMENTS

The information set forth in this section contains certain "forward-looking statements," including, among other things, (i) expected changes in our revenues and profitability, (ii) prospective business opportunities, and (iii) our strategy for financing our business. Forward-looking statements are statements other than historical information or statements of current condition. Some forward-looking statements may be identified by use of terms such as "believes," "anticipates," "intends," or "expects." These forward-looking statements relate to our plans, objectives and expectations for future operations. Although we believe that our expectations with respect to the forward-looking statements are based upon reasonable assumptions within the bounds of our knowledge of our business and operations, in light of the risks and uncertainties inherent in all future projections, the inclusion of forward-looking statements in this report should not be regarded as a representation by us or any other person that our objectives or plans will be achieved.

PLAN OF OPERATION

Rango Energy Inc. is an independent energy company engaged in the acquisition, exploration and development of oil and natural gas properties in North America, with current operations in the ArkLaTex region. Avro's objective is to seek out and develop opportunities in the oil and natural gas sectors that represent low risk opportunities for the Company and its shareholders. In addition, Avro aims to seek larger projects that can be developed and produced with Joint Venture partners.

The ArkLaTex is a U.S. socio-economic region where Arkansas, Louisiana, Texas, and Oklahoma intersect. The region is centered on the Shreveport/Bossier metropolitan area in Northwest Louisiana. The region's history is heavily linked with the oil industry. The geology associated with the deposition of sediments from the Mississippi River, in particular, makes this area an abundant source for the oil and gas industries, which leads to the high levels of oil production within the region.

RESULTS OF OPERATIONS

Rango Energy Inc. has acquired oil and natural gas properties in the ArkLaTex region. Specifically the company has acquired the Hoss Holmes Lease and the Herrings Lease and has begun work on these properties.

Since the date of our inception, January 31, 2007, we have generated $469,889 in oil revenues and $343,000 in the sale of a non-core property. Over the three months ending September 30, 2012 and September 30, 2011 we have generated $73,482 and $50,242, respectively, in oil and gas revenue. Over the same period of time we incurred $69,817 and $117,711 respectively in expenses giving the company a net income (loss) in operations for the three months ended 2012 and 2011 of $2,743 and $72,531, respectively. The bulk of our other operating expenses were incurred in connection with the improvement, expenses, and maintenance of our oil producing properties. In 2011, Farm-In proceeds of $200,000 were received and attributed to income.

Over the nine months ending September 30, 2012 and September 30, 2011 we have generated $178,055 and $150,559, respectively in oil and gas revenue. Over the same period of time we incurred $2,188,182 and $346,305 in expenses giving the company a net income (loss) of $2,094,889 and $17,777 respectively. $2 million of the operating expenses was due to the value attributed to shares which were issued to management. The bulk of our other operating expenses were incurred in connection with the improvement, expenses, and maintenance of our oil producing properties. In 2011, Farm-In proceeds of $250,500 were received and attributed to income.

SELECTED FINANCIAL INFORMATION

LIQUIDITY AND CAPITAL RESOURCES

At September 30, 2012, we had cash in the bank of approximately $232,500. We are contemplating raising additional capital to finance our exploration programs. No final decisions regarding the program or financing have been made at this time. During the three or six months ended September 30, 2012 we issued 80,000,000 shares to settle $80,000 in indebtedness and 20,000,000 shares valued at $2 million to new management.

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OFF-BALANCE SHEET ARRANGEMENTS

We have no off-balance sheet arrangements.

CRITICAL ACCOUNTING POLICIES

We have not changed our accounting policies since December 31, 2007.

ITEM 4. CONTROLS AND PROCEDURES

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Securities Exchange Act of 1934 , as amended, is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, and that such information is accumulated and communicated to our management, including our president (also our principal executive officer) and our secretary, treasurer and chief financial officer (also our principal financial and accounting officer) to allow for timely decisions regarding required disclosure.

As of September 30, 2012, we carried out an evaluation, under the supervision and with the participation of our president (also our principal executive officer), and our chief financial officer (also our principal financial and accounting officer) of the effectiveness of the design and operation of our disclosure controls and procedures. Based on the foregoing, our President and Chief Financial Officer concluded that our disclosure controls and procedures were not effective in providing reasonable assurance in the reliability of our corporate reporting as of the end of the period covered by this Quarterly Report due to certain deficiencies that existed in the design or operation of our internal controls over financial reporting as disclosed below and that may be considered to be material weaknesses.

CHANGES IN INTERNAL CONTROLS.

There was no change in our internal controls or in other factors that could affect these controls during our last fiscal quarter that has materially affected, or is reasonably likely to materially affect our internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are not a party to any material legal proceedings and to our knowledge, no such proceedings are threatened or contemplated.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

Not applicable.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None

ITEM 5. OTHER INFORMATION

None.

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ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

Exhibit	Description of Exhibit
Number
3.1	Articles of Incorporation – Filed by Form SB-1 on March 30, 2007
3.2	Bylaws - – Filed by Form SB-1 on March 30, 2007
10.1	Lease Acquisition Agreement between the Company and Fredco LLC filed on August 26, 2009, and has been incorporated herein by reference.
10-2	Lease Acquisition Agreement filed on September 9, 2009 and has been incorporated herein by reference.
10-3	Farmout and Acquisition Agreement filed on May 17, 2011 and has been incorporated herein by reference.
31.1	Certification by Chief Executive Officer required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act, promulgated pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith
31.2	Certification by Chief Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act, promulgated pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith
32.1	Certification by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Cod of the Sarbanes-Oxley Act of 2002 filed herewith
32.2	Certification by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Cod of the Sarbanes-Oxley Act of 2002 filed herewith
33.0	XBRT Report

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SIGNATURES

In accordance with the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: November, 12, 2012

Signature	Title	Date
By: /s/Harp Sangha	Chief Executive Officer and	November 19, 2012
Harp Sangha	Director
By: /s/Hermander Rai	Chief Financial Officer and	November 19, 2012
Harp Sangha	Director

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