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

                                    FORM 10-Q

(Mark One)

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

For Quarter Ended: September 30, 2001

                                       OR

( )      TRANSITION  REPORT  PURSUANT  TO SECTION 13 OR 15(d) OF THE  SECURITIES
         EXCHANGE ACT OF 1934

For the transition period from             to
                              -------------  -------------

Commission File: 0-8447
                 ------

                               DOL RESOURCES, INC.
             (Exact Name of Registrant as specified in its Charter)

            Wyoming                                              82-0219465
  (State of other Jurisdiction                                (I.R.S. Employer
of Incorporation or Organization)                            Identification No.)


                  13636 Neutron Road, Dallas, Texas                 75244
               (Address of Principal Executive Offices)           (Zip Code)


Registrant's Telephone Number (Area code (214) 661 5869)


Indicate by check mark whether  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 such shorter period that  Registrant was required to
file such reports and (2) has been subject to such filing  requirements  for the
past 90 days YES:   NO: X

The  number of shares  outstanding  of each of the  Issuer's  Classes  of Common
Stock, as of the close of the period covered by this report:

Common - $0.01 Par Value - 25,000,000 shares as of September 30, 2001.



<PAGE>

                               DOL RESOURCES, INC.

         Index to Form 10-Q for Fiscal Quarter ended September 30, 2001.



                                                                        Page No.
PART 1 -  Financial Information

Condensed Unaudited Balance Sheet, September 30, 2001
      and December 31, 2000                                                3

Condensed Unaudited Statement of Income,
      Nine Months ended September 30, 2001 and 2000                        4

Condensed Unaudited Statement of Shareholder's
      Equity Nine Months ended September 30, 2001 and 2000                 5

Condensed Unaudited Statement of Changes in
      Financial Position Nine-Months Ended
        September 30, 2001 and 2000                                        5

Summary of Significant Accounting Policies and
      Notes to Condensed Unaudited Financial Statements                  6 - 8

Management's Discussion and Analysis of Condensed
      Financial Condition and Results of Operations                      9

PART 11 - Other Information

      Item 6(b) - Exhibits and Reports on Form 8-K                      10

      Signature Pursuant to General Instruction E                       10

All  other  items  called  for by the  instructions  are  omitted  as  they  are
inapplicable,  not  required,  or the  information  is included in the condensed
financial statements or notes thereto.


<PAGE>

                               DOL RESOURCES, Inc.
                                  BALANCE SHEET

                                   (Unaudited)

                                     ASSETS
                                                       Sept. 30       Dec. 31
                                                         2001           2000
                                                     -----------    -----------

CURRENT ASSETS
Cash                                                 $    16,893    $       -0-
Marketable securities, at
  lower or aggregate cost
  or market                                                  -0-        400,000

Due from related parties-Note 2                            6,000        137,749
Prepaid Expenses                                             -0-            -0-
                                                     -----------    -----------

         Total Current Assets                             22,893        537,749
                                                     -----------    -----------

PROPERTIES - Using full costing-
   Note 1
   Production payment
   Exploration, acquisition &
         development, cost, net of
         allowance for reduction of
         oil & gas assets of $137,083
         in 1985                                       2,502,290      2,098,263
                                                     -----------    -----------
                  Total cost                           2,502,290      2,098,263

Less accumulated depletion                             1,483,550      1,452,050
                                                     -----------    -----------
                                                       1,018,740        646,213

TOTAL ASSETS                                           1,041,633      1,183,962
                                                     -----------    -----------


Total Liabilities                                            -0-            -0-

STOCKHOLDERS' EQUITY
     Capital Stock, common,
     $.01 par value;
     Authorized 25,000,000 shares;
     Issued and outstanding;
     25,000,000 shares at 9-30-01
     and 12-31-00                                        250,000        250,000
     Capital in excess of
            Par value                                  2,389,942      2,526,770
        Accumulated deficit                           (1,598,309)    (1,592,808)

     Total Stockholders Equity                         1,041,633      1,183,962
                                                     -----------    -----------

         TOTAL LIABILITIES & EQUITY                    1,041,633      1,183,962
                                                     -----------    -----------




<PAGE>

                               DOL RESOURCES, INC.
                     CONDENSED UNAUDITED STATEMENT OF INCOME

                                         3 Months              9 Months
                                           Ended                 Ended
                                          9-30-01       9-30-01        9-30-00
                                        -----------   -----------    -----------

Operating Revenue:
   Oil and Gas Sales                         34,161        91,975        119,919
   Interest and other income                    -0-           -0-            -0-
                                        -----------   -----------    -----------

                   Total                     34,161        91,975        119,919

Operating Expenses:
   Depletion,depreciation
     and amortization                        10,500        31,500         39,000

   General and administrative                    91         6,027            700
   Interest                                     -0-           -0-            -0-
   Consulting & Mgmt Fees                     4,091        12,272         12,272
   Production Taxes                           2,988         7,756          9,981
   Lease Operating Expense                   14,459        39,921         41,285
   Lease Rentals                                -0-           -0-            -0-
                                        -----------   -----------    -----------

      Total Operating Expenses               32,129        97,476        103,238

Net Income (Loss) before income
    taxes                                     2,032        (5,501)        16,681
Provision for income taxes
(note 6)                                        -0-           -0-            -0-
                                        -----------   -----------    -----------
Net Income (Loss)                             2,032        (5,501)        16,681



Weighted Average Number of Common
  Shares Outstanding                     25,000,000    25,000,000     25,000,000

Earnings (Loss)forCommon Share          $    .00008   $   (.00022)   $    .00067


The accompany notes are an integral part of this statement.


<PAGE>
<TABLE>
<CAPTION>

                               DOL RESOURCES, INC.
              CONDENSED UNAUDITED STATEMENT OF STOCKHOLDER'S equity
                  Nine Months ended September 30, 2001 and 2000

                        Capital Stock                      Capital in
                          Number of                        Excess of      Accumulated       Treasury
                           Shares             Amount       Par Value        Deficit           Stock
                        -------------    -------------   -------------   -------------    -------------
<S>                     <C>              <C>             <C>             <C>              <C>
Balance at
1/1/01                     25,000,000          250,000       2,526,770      (1,592,808)             -0-
Net Income                        -0-              -0-             -0-          (5,501)             -0-
                        -------------    -------------   -------------   -------------    -------------

Return to Contributed
Capital to Parent                                             (136,828)

Balance at
9/30/01                    25,000,000          250,000       2,389,942      (1,598,309)             -0-
                        -------------    -------------   -------------   -------------    -------------

Balance at
1/1/00                     25,000,000          250,000       2,526,770      (1,602,977)             -0-
Net Income                        -0-              -0-             -0-          16,681              -0-
                        -------------    -------------   -------------   -------------    -------------

Balance at
9/30/00                    25,000,000          250,000       2,526,770      (1,586,296)             -0-
                        -------------    -------------   -------------   -------------    -------------
</TABLE>



                          CONDENSED UNAUDITED STATEMENT
                        OF CHANGES IN FINANCIAL POSITION

                                                        Nine Months Ended:
                                                Sept. 30, 2001    Sept. 30, 2000
                                                --------------    --------------

Financial Resources Provided
  By Operations:
  Net Income                                            (5,501)           16,681
  Items not requiring outlay
  of working Capital:
     Depletion, Deprec. and
     Amortization                                       31,500            39,000
                                                --------------    --------------
 Working Capital provided by
  operations                                            25,599            55,681
Decrease(increase) in Properties                      (404,027)           59,666
Reduction in other Assets                                  -0-               -0-
Increase in long term debt                                 -0-               -0-
                                                --------------    --------------

     Total Resources                                  (378,028)          115,347

Financial Resources Applied to
 Retirement of long-term debt                              -0-               -0-
Increase in common stock                                   -0-               -0-
Decrease in contributed stock                         (136,828)              -0-
                                                --------------    --------------
Net Increase (Decrease) in
 Working Capital                                      (514,856)          115,347
    Working Capital at begin. of
       period                                          537,749           411,482
    Working Capital at end of period                    22,893           526,829




<PAGE>

                               DOL Resources, Inc.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  Summary of Significant Accounting Policies
         ------------------------------------------

         Organization and Operations
         The  Company  was  organized  on November 6, 1973 under the laws of the
         State of Wyoming.  Its primary  activities have been the acquisition of
         interests  in  various  oil and gas  properties,  coal  properties  and
         exploration for oil and gas.


         Properties:
         The  Company  uses the full cost method of  accounting  for oil and gas
         acquisition,   exploration  and  development  costs.  The  Company  has
         operations only within the continental  United States and  consequently
         has only one cost center.

         All  costs  associated  with  property  acquisition,   exploration  and
         development activities are capitalized within the cost center. No costs
         related to production, general corporate overhead or similar activities
         are capitalized.

         Capitalized   costs  within  the  cost  center  are  amortized  on  the
         units-of-production  basis  using  proved  oil  and gas  reserves.  The
         carrying  value of  capitalized  cost is  limited to the sum of (A) the
         present  value of future net  revenues  from  estimated  production  of
         proved oil and gas reserves,  plus (B) the cost of properties not being
         amortized,  plus (C) the lower cost or estimated fair value of unproved
         properties  included in the costs being  amortized  less (D) income tax
         effects  related  to  differences  between  book  and tax  basis of the
         properties  involved.  For the year  ended  December  31,  1985,  total
         capitalized  costs  exceeded the cost center  ceiling by $137,083.  The
         excess was expense to current operations.




<PAGE>

                               DOL RESOURCES, INC.
                     NOTES TO FINANCIAL STATEMENTS (CON'T).


NOTE 1:  Sales and  abandonments  of oil and gas properties are accounted for as
         adjustment of capitalized costs, with no gain or loss recognized.

         Drilling in  progress  is  included  in the cost center with  depletion
         being calculated on all costs with cost center.

         Earnings  per Common Share  Earnings per common share were  computed by
         dividing the net loss by the weighted  average  number of common shares
         outstanding during the year.

NOTE 2.  Related Party Transactions

         The Company ended 2000 with accounts receivable from Glauber Management
         Corp. (The parent company) of $137,749.  The balance of this account on
         September 30, 2001 was zero.

NOTE 3.  Income Taxes

         The Company as of December  31,  2000 had a net  operating  income loss
         carryover  for income  tax  purposes  of  approximately  $448,000.  The
         carryover  is available  to offset  taxable  income of future years and
         expires as follows:


                           2001     40,000
                           2002     48,000
                           2003      3,000
                           2004     34,000
                           2007     14,000
                           2008     19,000
                           2009      1,000
                           2011    217,000
                           2013     57,000
                           2014     15,000
                                   -------
                                   448,000



<PAGE>

         For financial reporting purposes,  the net operating loss has been used
         to offset  prior  deferred  income  taxes.  To the extend  that the net
         operating  loss  carryovers  are  utilized  for income tax  purposes in
         future  years,  the deferred  income taxes  eliminated  to give credits
         related to timing differences of the current year not recorded, will be
         reinstated.

         Because  of  timing  differences   related  principally  to  intangible
         drilling  costs,  cumulative  losses for income tax reporting  purposes
         exceed  those  reported  by  approximately  $576,000.  Because  of  the
         uncertainty as to realization,no  future tax benefits are recognized at
         December 31, 2000









<PAGE>

                   MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE
                     CONDENSED UNAUDITED STATEMENT OF INCOME

         The  following  is  Management's  discussion  and  analysis  of certain
significant factors which have affected the Company's earnings during the period
included in the accompanying Condensed Unaudited Statement of Income.

         A summary  of the  period  to period  changes  in the  principal  items
included in the Condensed Unaudited Statement of Income is as shown below:

                                         Nine Months
                                      ending Sept. 30
                                       2001 and 2000
                                      ---------------

Net Sales                                (27,944)
Interest and Other Income                    -0-
General and Administrative                 5,327
Depletion, Depreciation
  and Amortization                        (7,500)
Consulting & Management Fees                 -0-
Net Income (Loss)                        (22,182)

         Oil and gas sales  decreased  as  compared to the same period last year
due primarily to a decline in production.

         The  recurring  cash  flow  for the  first  nine  months  of  2001  was
approximately  $8,500 per month.All  expenses remained about the same except for
depletion which was  substantially  less due to the decline in production,  also
general  and  administrative  expenses  increased  due to a  legal  retainer  of
$5,000.00.

         Management  expects the upward trend in oil and gas prices to level off
and hold steady at around  $25.00 per Bbl.  through most of 2001.  This not only
increases  revenues and cash flow but also  enchances  our ability to raise much
needed funds for drilling and reworking  wells.  It is the opinion of management
that a minimum of $25.00 per Bbl.oil is needed in otder to expand operations and
replace  depleted  reserves.  A  continuing  effort  is being  made to  increase
production,   and   consequently   revenues  by  seeking  out  and   negotiating
joint-venture recompletion projects where positive reserve information exists.

         Management  is also seeking out possible  merger  opportunities.  There
have been several  negotiations with private companies desiring to go public. In
preparation for a impending merger Glauber Management,  (Parent) by an agreement
dated June 30, 1999 assumed all  liabilities  and selected assets of the company
in exchange for contributed  capital.  Also, Oklahoma oil properties held by the
Parent were contributed to the Company.

         Negotiations  for the  acquisition of major oil and gas fiels for stock
are presently in process. If these are successful,  it would dramatically impact
the company's gross revenues and profitability.


<PAGE>

         Review of Independent Public Accountants:

         The information  contained in  substantially  all financial  statements
accompanying  this report were supplied by internal  accountant  of  registrant.
Although such statements have not been reviewed by registrant's certified public
accountant they are available for review.

                               Office Information

         No  reports on Form 8-K were filed by the  Company in the  quarter  for
which this report is filed.

                                   SIGNATURES

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

                          DOL RESOURCES, INC.

                           /s/  Fred M. Updegraff
                          -----------------------------
                          Fred M. Updegraff
                          Vice President, Treasurer and
                          Principal Accounting Officer

Date: October 26, 2001