content: United States
                         SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                      FORM 8-K
                                   CURRENT REPORT
  
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1933
  
                          Date of Report: September 9, 2004
  
                          Commission File Number: 000-09419
  
  
                            Matrix Energy Services Corp.
  
  Nevada                                                     84-0811647
  (Jurisdiction of Incorporation)           (I.R.S. Employer Identification No.)
  
  5416 Birchman Ave., Fort Worth Texas                           76107
  (Address of principal executive offices)                     (Zip Code)
  
  Registrant's telephone number, including area code:           (817) 377-4464
  
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any of the
  following provisions (see General Instruction A.2. below):
  
  
  [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
  230.425)
  [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
  (17 CFR 240.14a-12)
  [ ] Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
  
  <PAGE>
  
  Section 2 - Financial Information
  
  Item 2.01 Completion of Acquisition or Disposition of Assets.
  
  On September 9, 2004, the Board of Directors for Matrix Energy Services, Corp.
  held a meeting of its Board of Directors. The members of the Board, M.O. Rife
  III, Joe Bill Bennett and Mark Zouvas were present. The purpose of this meeting
  was to discuss the inability of the Company to pay its joint operating expenses
  on its Corsicana leasehold, which controls 200 producing wells in Corsicana,
  Texas. The Board made the following motions and accepted the following
  resolutions.
  
  In 1997, the Company, under its predecessor name, Titan Energy Corp. executed a
  joint operating agreement with Rife Oil Properties to operate the wells located
  on the Corsicana leasehold. Rife Oil Properties, Inc. is solely owned and
  controlled by M.O. Rife III. Mr. Rife is also the Chairman of the Board of
  Matrix Energy Services Corp. and was Chairman of the Board of Titan Energy Corp.
  at the time of the execution of the operating agreement.
  
  Provisions within the operating agreement between Rife Oil Properties and the
  Company provide for the operator to take title and possession of the contract
  area (Corsicana Leasehold) in the event the non-operator (Matrix) cannot pay its
  joint operating expenses within sixty (60) days of the due date of the operating
  expense invoices. Transference of the leasehold estate under this scenario is
  through judicial proceedings.
  
  The Company has not been able to pay its joint operating invoices for the
  Corsicana leasehold for past eighteen months. Prior to that point in time,
  operating deficits for the Corsicana property had been funded through a series
  of loans made to the Company by related parties. The current amount owed to Rife
  Oil Properties from Matrix for joint operating expenses is $136,117.11.
  
  Recently, the State of Texas declared swabbing, which is the process of lifting
  oil from depleted wells via mobile unit, to be detrimental to the environment
  and have informed all operators to cease swabbing operations. The Corsicana
  property derived a majority of its revenue from swabbing the wells in the
  leasehold. The Company does not believe the property can generate enough revenue
  to cover its costs in this environment.
  
  To avoid judicial proceedings and the appurtenant costs associated with an
  action, The Company and has elected to consent to the forfeiture of its interest
  in the Corsicana leasehold to the operator, Rife Oil Properties in lieu of its
  outstanding debt relating to the joint operating expenses.
  
  Section 8 - Other Events
  
  Item 8.01 - Other Events
  
  On September 9, 2004, at a meeting of the Board of Directors of the Registrant,
  Matrix Energy Services Corp., the Directors elected to accept two compromise
  settlement agreements converting its outstanding debt to shares of its common
  stock. Specifically, the Registrant agreed to issue 25,245,586 shares of its
  common stock to Business Exchange Investments, inc. in lieu of canceling
  $378,683.79 of outstanding notes payable. Additionally, the Registrant agreed to
  issue 16,650,229 shares of its common stock to MOROIL, Inc. in lieu of canceling
  $249,753.43 of outstanding notes and accounts payable. MOROIL, Inc. is solely
  owned by the Chairman of the Board of Matrix Energy Services Corp., M.O. Rife
  III.
  
  
  
  
  
  
  <PAGE>
  
  
  
  
                                     Signatures
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, this report
  has been signed below by the following persons on behalf of the Registrant and
  in the capacities and on the date indicated.
  
                            Matrix Energy Services Corp.
  
  Dated: September 9, 2004
  Matrix Energy Services Corporation
  
  
  By:/s/M.O. Rife III
  ---------------------------------------
  M.O. Rife III, Chairman of the Board
  
  
  By:/s/Joe Bill Bennett
  ----------------------------------
  Joe Bill Bennett, CEO and Director
  
  
  By:?s/Mark S. Zouvas
  ----------------------------------
  Mark S. Zouvas, CFO/Director
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "f8k.txt", "description": "DISPOSITION OF ASSETS", "secsgml_size_bytes": 5445}]
metadata_filer: {"company-data": {"conformed-name": "MATRIX ENERGY SERVICES CORP", "cik": "0000316621", "assigned-sic": "1311", "irs-number": "840811647", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-09419", "film-number": "041023922"}, "business-address": {"street1": "5416 BIURCHMAN AVENUE", "street2": "C/O MANY ANN WELCH", "city": "FORT WORTH", "state": "TX", "zip": "76107", "phone": "8173774464"}, "mail-address": {"street1": "5416 BIRCHMAN AVENUE", "city": "FORT WORTH", "state": "TX", "zip": "76107"}, "former-company": [{"former-conformed-name": "POWER EXPLORATION INC", "date-changed": "19981230"}, {"former-conformed-name": "TITAN ENERGY CORP INC", "date-changed": "19980727"}, {"former-conformed-name": "IMPERIAL ENERGY CORP", "date-changed": "19980727"}]}
text: United States
                         SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                      FORM 8-K
                                   CURRENT REPORT
  
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1933
  
                          Date of Report: September 9, 2004
  
                          Commission File Number: 000-09419
  
                            Matrix Energy Services Corp.
  
  Nevada                                                     84-0811647
  (Jurisdiction of Incorporation)           (I.R.S. Employer Identification No.)
  
  5416 Birchman Ave., Fort Worth Texas                           76107
  (Address of principal executive offices)                     (Zip Code)
  
  Registrant's telephone number, including area code:           (817) 377-4464
  
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any of the
  following provisions (see General Instruction A.2. below):
  
  [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
  230.425)
  [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
  (17 CFR 240.14a-12)
  [ ] Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
  Section 2 - Financial Information
  
  Item 2.01 Completion of Acquisition or Disposition of Assets.
  
  On September 9, 2004, the Board of Directors for Matrix Energy Services, Corp.
  held a meeting of its Board of Directors. The members of the Board, M.O. Rife
  III, Joe Bill Bennett and Mark Zouvas were present. The purpose of this meeting
  was to discuss the inability of the Company to pay its joint operating expenses
  on its Corsicana leasehold, which controls 200 producing wells in Corsicana,
  Texas. The Board made the following motions and accepted the following
  resolutions.
  
  In 1997, the Company, under its predecessor name, Titan Energy Corp. executed a
  joint operating agreement with Rife Oil Properties to operate the wells located
  on the Corsicana leasehold. Rife Oil Properties, Inc. is solely owned and
  controlled by M.O. Rife III. Mr. Rife is also the Chairman of the Board of
  Matrix Energy Services Corp. and was Chairman of the Board of Titan Energy Corp.
  at the time of the execution of the operating agreement.
  
  Provisions within the operating agreement between Rife Oil Properties and the
  Company provide for the operator to take title and possession of the contract
  area (Corsicana Leasehold) in the event the non-operator (Matrix) cannot pay its
  joint operating expenses within sixty (60) days of the due date of the operating
  expense invoices. Transference of the leasehold estate under this scenario is
  through judicial proceedings.
  
  The Company has not been able to pay its joint operating invoices for the
  Corsicana leasehold for past eighteen months. Prior to that point in time,
  operating deficits for the Corsicana property had been funded through a series
  of loans made to the Company by related parties. The current amount owed to Rife
  Oil Properties from Matrix for joint operating expenses is $136,117.11.
  
  Recently, the State of Texas declared swabbing, which is the process of lifting
  oil from depleted wells via mobile unit, to be detrimental to the environment
  and have informed all operators to cease swabbing operations. The Corsicana
  property derived a majority of its revenue from swabbing the wells in the
  leasehold. The Company does not believe the property can generate enough revenue
  to cover its costs in this environment.
  
  To avoid judicial proceedings and the appurtenant costs associated with an
  action, The Company and has elected to consent to the forfeiture of its interest
  in the Corsicana leasehold to the operator, Rife Oil Properties in lieu of its
  outstanding debt relating to the joint operating expenses.
  
  Section 8 - Other Events
  
  Item 8.01 - Other Events
  
  On September 9, 2004, at a meeting of the Board of Directors of the Registrant,
  Matrix Energy Services Corp., the Directors elected to accept two compromise
  settlement agreements converting its outstanding debt to shares of its common
  stock. Specifically, the Registrant agreed to issue 25,245,586 shares of its
  common stock to Business Exchange Investments, inc. in lieu of canceling
  $378,683.79 of outstanding notes payable. Additionally, the Registrant agreed to
  issue 16,650,229 shares of its common stock to MOROIL, Inc. in lieu of canceling
  $249,753.43 of outstanding notes and accounts payable. MOROIL, Inc. is solely
  owned by the Chairman of the Board of Matrix Energy Services Corp., M.O. Rife
  III.
  Signatures
  
  Pursuant to the requirements of the Securities Exchange Act of 1934, this report
  has been signed below by the following persons on behalf of the Registrant and
  in the capacities and on the date indicated.
  
                            Matrix Energy Services Corp.
  
  Dated: September 9, 2004
  Matrix Energy Services Corporation
  
  By:/s/M.O. Rife III
  ---------------------------------------
  M.O. Rife III, Chairman of the Board
  
  By:/s/Joe Bill Bennett
  ----------------------------------
  Joe Bill Bennett, CEO and Director
  
  By:?s/Mark S. Zouvas
  ----------------------------------
  Mark S. Zouvas, CFO/Director