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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 W0xA3KFnDwjrggNcLxfWoCJLcj1HwLqsmVFfeS1m0avMynsDmNkiVlQDya67ywYF
 xDmin5NVLSimbVyml6xsng==

<SEC-DOCUMENT>0001144204-08-046108.txt : 20080813
<SEC-HEADER>0001144204-08-046108.hdr.sgml : 20080813
<ACCEPTANCE-DATETIME>20080813131755
ACCESSION NUMBER:		0001144204-08-046108
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080416
FILED AS OF DATE:		20080813
DATE AS OF CHANGE:		20080813

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cobra Oil & Gas CO
		CENTRAL INDEX KEY:			0001350421
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		UPTOWN CENTER 2100 WEST LOOP SOUTH
		STREET 2:		SUITE 400
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77027
		BUSINESS PHONE:		832-476-8941

	MAIL ADDRESS:	
		STREET 1:		UPTOWN CENTER 2100 WEST LOOP SOUTH
		STREET 2:		SUITE 400
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77027

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			POZZONI MASSIMILIANO
		CENTRAL INDEX KEY:			0001268703

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52788
		FILM NUMBER:		081012527

	MAIL ADDRESS:	
		STREET 1:		8375 WIN SG ST
		STREET 2:		#2GAR
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33106
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v123244_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-04-16</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001350421</issuerCik>
        <issuerName>Cobra Oil &amp; Gas CO</issuerName>
        <issuerTradingSymbol>CGCA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001268703</rptOwnerCik>
            <rptOwnerName>POZZONI MASSIMILIANO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>483 GREEN LANES</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LONDON, N13  4BS,</rptOwnerCity>
            <rptOwnerState>X0</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED KINGDOM</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.00001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2008-04-16</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2008-04-16</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>35000000</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Effective April 16, 2008 Massimiliano Pozzoni returned 4,000,000 of the 5,000,000 shares of Cobra Oil &amp; Gas Company (the
 &quot;Company&quot;) of common stock owned by him for cancellation. Upon returning the shares he then owned 1,000,000 shares of the
 Company's Common Stock. Then on April 22, 2008 the Company's board of directors declared a 35:1 forward stock split in the
 form of a stock dividend (the &quot;Forward Split&quot;). The record date, payment date and market effective date for the Forward
 Split was May 6, 2008, May 7, 2008 and  May 8, 2008, respectively. Immediately prior to the Forward Split there were
 2,004,000 shares of our common stock issued and outstanding. Immediately following the Forward Split there was 70,140,000
 shares of the Company's common stock issued and outstanding.  As a result of the declaration of the Forward Split,
 Massimiliano Pozzoni then owned 35,000,000 shares of the Company or 49.90% of the issued and outstanding shares of Common
 Stock of the Company..</footnote>
        <footnote id="F2">N/A</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Massimiliano Pozzoni</signatureName>
        <signatureDate>2008-04-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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