10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

(MARK ONE)

FORM 10-Q/A

[√] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012 [REFORMATTED]

OR

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM __________________ TO __________________________

COMMISSION FILE NUMBER: 000-51569

STANDARD DRILLING, INC.

(EXACT name of registrant as specified in its charter)

NEVADA	84-1598154
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1640 Terrace Way, Walnut Creek, CA	94597
(Address of principal executive offices) [REFORMATTED]	(Zip Code)

(925) 938-0406

(Registrant's telephone number, including area code)

NOT APPLICABLE

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 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 [√ ] No [  ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes [√  ] No [  ] [

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

Large accelerated filer	[ ]	Accelerated filer	[ ]
Non-accelerated filer	[ ]	Smaller reporting company	[√]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act)

Yes [√]  No[   ]

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:  33,458,880 shares of common stock are issued and outstanding as of July 15, 2012.

EXPLANATORY NOTE

Standard Drilling, Inc. is filing this Amendment No. 1 (the “Form 10-Q/A”) to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2012 (the “Form 10-Q”), filed with the Securities and Exchange Commission (“SEC”) on September 14, 2012, for the sole purpose of furnishing the XBRL Interactive Data Files on Exhibit 101.

No other Changes have been made to the Form 10-Q. This Form 10-Q/A continues to speak as of the original filing date of the form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update any related disclosures made in the form 10-Q.

PART II - OTHER INFORMATION

Item 6.   Exhibits.

No.	Description
31.1	Rule 13a-14(a)/ 15d-14(a) Certification of Chief Executive Officer *
31.2	Rule 13a-14(a)/ 15d-14(a) Certification of Chief Financial Officer *
32.1	Section 1350 Certification of Chief Executive Officer and Chief Financial Officer *
101	Interactive Data Files
101.INS	XBRL Instance Document *
101.PRE	XBRL Taxonomy Extension Presentation Linkbase *
101.LAE	XBRL Taxonomy Extension Label Linkbase *
101.DEF	XBRL Taxonomy Extension Definition Linkbase *
101.SCH	XBRL Taxonomy Extension Schema *

*

filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	STANDARD DRILLING, INC.
September 14, 2012	By: /s/ David S. Rector
	David S. Rector, Chief Executive Officer, Chief Financial Officer

EX-31

EXHIBIT 31.1

Rule 13a-14(a)/15d-14(a) Certification

I, David S. Rector, certify that:

1. I have reviewed this report on Form 10-Q/A for the period ended June 30, 2012 of Standard Drilling, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)	Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
September 14, 2012			/s/David S. Rector David S. Rector, Chief Executive Officer, principal executive officer

EX-32

EXHIBIT 32.1

Section 1350 Certification

In connection with the Quarterly Report of Standard Drilling, Inc. (the “Company”) on Form 10-Q/A for the period ended June 30, 2012 as filed with the Securities and Exchange Commission (the “Report”), I, David S. Rector, Chief Executive Officer and Chief Financial Officer, of the Company, certify, pursuant to 18 U.S.C. SS. 1350, as adopted pursuant to SS. 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, and

2.	The information contained in the Report fairly presents, in all material respects, the financial conditions and results of operations of the Company.
September 14, 2012		/s/David S. Rector David S. Rector, Chief Executive Officer, Chief Financial Officer, principal executive officer, principal financial and accounting officer

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

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Note 5 - Subsequent Events

3 Months Ended

Jun. 30, 2012

Note 5 - Subsequent Events:

Note 5 - Subsequent Events

NOTE 5 – SUBSEQUENT EVENTS

In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and there are no material subsequent events to report.

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Note 4 - Significant Events

3 Months Ended

Jun. 30, 2012

Note 4 - Significant Events:

Note 4 - Significant Events

NOTE 4 – SIGNIFICANT EVENTS

On January 24, 2012 the Company consummated a Settlement Agreement with Prentis Tomlinson and PBT Capital Partners (“PBT”) whereby Mr. Tomlinson and PBT agreed to pay the Company a total of $115,000 in the form of seven payments, the last of which is due on July 30, 2012.  The Company received the first payment of $15,000 in January, 2012. No other payments have been received since January 2012.

On March 26, 2012 the Company obtained an Agreed Judgment whereby the District Court of Harris County, Texas, 151st judicial district, ordered and decreed Mr. Tomlinson and PBT to pay the Company the $115,000 pursuant to

the Settlement Agreement, and an additional $251,626.  In addition, the judgment ordered Tomlinson and PBT to pay the Company $5,000 for attorney fees incurred and that the entire judgment total should accrue interest at a rate of 5.0% per annum.  Furthermore, the Company is entitled to a total of $15,000 in attorney’s fees incurred in the enforcement and collection of the judgment. Payments of $10,000 are due at the end of each month until July 30, 2012 when $50,000 is due. No payments have been received since the payment received in January 2012.

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Balance Sheets (USD $)	Dec. 31, 2012	Jun. 30, 2012
Cash	$ 520	$ 1,139
Total Current Assets	520	1,139
TOTAL ASSETS	520	1,139
Accounts payable	13,343	18,807
Accrued expenses	263,374	269,709
Total Current Liabilities	276,717	288,516
TOTAL LIABILITIES	276,717	288,516
Common stock, 100,000,000 shares authorized at par value of $0.001, 33,458,880 shares issued and outstanding	33,459	33,459
Additional paid-in capital	18,473,461	18,473,461
Deficit accumulated during the development stage	(18,783,117)	(18,794,297)
Total Stockholders' Deficit	(276,197)	(287,377)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 520	$ 1,139

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Note 2 - Going Concern

3 Months Ended

Jun. 30, 2012

Note 2 - Going Concern:

Note 2 - Going Concern

NOTE 2 – GOING CONCERN

The Company's financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs and allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management's plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

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Note 3 - Summary of Significant Accounting Policies

3 Months Ended

Jun. 30, 2012

Note 3 - Summary of Significant Accounting Policies:

Note 3 - Summary of Significant Accounting Policies

NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of 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.

Recent Accounting Pronouncements

The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position or statements.

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Statements of Income (USD $)	3 Months Ended		6 Months Ended		76 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
General and administrative	$ 7,211	$ 33,876	$ 19,844	$ 52,481	$ 2,363,223
Bad debt expense					600,000
Total Operating Expenses	7,211	33,876	19,844	52,481	2,963,223
LOSS FROM OPERATIONS	(7,211)	(33,876)	(19,844)	(52,481)	(2,963,223)
Interest income					4,842
Gain on collection of judgement			15,000		15,000
Interest expense	(3,168)	(4,286)	(6,336)	(7,454)	(58,511)
Total Other Income (Expenses)	(3,168)	(4,286)	8,664	(7,454)	(38,669)
LOSS BEFORE DISCONTINUED OPERATIONS	(10,379)	(38,162)	(11,180)	(59,935)	(3,001,892)
DISCONTINUED OPERATIONS					(15,792,405)
LOSS BEFORE INCOME TAXES	(10,379)	(38,162)	(11,180)	(59,935)	(18,794,297)
NET INCOME (LOSS)	$ (10,379)	$ (38,162)	$ (11,180)	$ (59,935)	$ (18,794,297)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	33,458,880	33,458,880	33,458,880	33,458,880	33,458,880

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Document and Entity Information (USD $)	3 Months Ended
	Jun. 30, 2012
Document and Entity Information:
Entity Registrant Name	Standard Drilling, Inc.
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Entity Central Index Key	0001158694
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	33,458,880
Entity Public Float	$ 33,458,880
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	No
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2

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Statements of Cash Flows (USD $)	3 Months Ended	6 Months Ended		76 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012
Net loss	$ (10,379)	$ (11,180)	$ (59,935)	$ (3,001,892)
Loss from discontinued operations				(15,792,405)
Fair value of options granted				112,441
Write off of notes receivable	600,000	600,000		600,000
Change in accounts payable		5,464	426	18,807
Change in accrued expenses		6,335	7,454	269,709
Net Cash Provided by (Used In) Operating Activities		619	(52,055)	(17,793,340)
Net Cash Provided by Discontinued Operations				17,794,479
NET INCREASE (DECREASE) IN CASH		619	(52,055)	1,139
CASH AT BEGINNING OF PERIOD		520	62,818
CASH AT END OF PERIOD	1,139	1,139	10,763	1,139
Deemed dividend				$ 1,131,789

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Note 4 - Significant Events (Details)	3 Months Ended
	Jun. 30, 2012
Financing Receivable, Allowance for Credit Losses, Factors that Influenced Management's Judgment	$50,000

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Note 1 - Summary of Significant Accounting Policies

3 Months Ended

Jun. 30, 2012

Note 1 - Summary of Significant Accounting Policies:

Note 1 - Summary of Significant Accounting Policies

NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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 June 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 June 30, 2012 and 2011 are not necessarily indicative of the operating results for the full year.

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Recent Accounting Pronouncements (Policies)

3 Months Ended

Jun. 30, 2012

Recent Accounting Pronouncements:

Recent Accounting Pronouncements

Recent Accounting Pronouncements

The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position or statements.