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, 2000

                                       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, 2000.



<PAGE>

                               DOL RESOURCES, INC.

         Index to Form 10-Q for Fiscal Quarter ended September 30, 2000.



                                                                        Page No.
PART 1 -  Financial Information

Condensed Unaudited Balance Sheet, September 30, 2000
      and December 31, 1999                                              2 - 3

Condensed Unaudited Statement of Income,
      Nine Months ended September 30, 2000 and 1999                        4

Condensed Unaudited Statement of Shareholder's
      Equity Nine Months ended September 30, 2000 and 1999                 5

Condensed Unaudited Statement of Changes in
      Financial Position Nine-Months Ended
        September 30, 2000 and 1999                                        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.





                                       1
<PAGE>

                               DOL RESOURCES, Inc.
                                  BALANCE SHEET

                                   (Unaudited)

                                     ASSETS
                                                         Sept. 30     Dec. 31
                                                           2000         1999
                                                        ----------   ----------

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

Due from related parties-Note 3                            126,829       11,482
Prepaid Expenses                                               -0-          -0-
                                                        ----------   ----------

         Total Current Assets                              526,829      411,482
                                                        ----------   ----------

PROPERTIES - Using full costing-
   Note 1
   Production payment                                          -0-      100,000
   Exploration, acquisition &
         development, cost, net of
         allowance for reduction of
         oil & gas assets of $137,083
         in 1985                                         2,098,262    2,057,928
                                                        ----------   ----------
                  Total cost                             2,098,262    2,157,928

Less accumulated depletion                               1,434,617    1,395,617
                                                        ----------   ----------
                                                           663,645      762,311

TOTAL ASSETS                                             1,190,474    1,173,793
                                                        ----------   ----------


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 9-30-00
    and 12-31-99                                           250,000      250,000
    Capital in excess of
        Par value                                        2,526,770    2,526,770
        Accumulated deficit                             (1,586,296)  (1,602,977)
                                                        ----------   ----------

     Total Stockholders Equity                           1,190,474    1,173,793
                                                        ----------   ----------

         TOTAL LIABILITIES & EQUITY                      1,190,474    1,173,793
                                                        ----------   ----------

                                       2
<PAGE>

                               DOL RESOURCES, INC.
                     CONDENSED UNAUDITED STATEMENT OF INCOME

                                         3 Months             9 Months
                                           Ended         Ended
                                          9-30-00       9-30-00       9-30-99

Operating Revenue:
   Oil and Gas Sales                         39,935       119,919        46,525
   Interest and other income                    -0-           -0-         3,896
                                        -----------   -----------   -----------

                   Total                     39,935       119,919        50,421

Operating Expenses:
   Depletion,depreciation
     and amortization                        13,000        39,000        10,594

   General and administrative                   200           700         6,759
   Interest                                     -0-           -0-        13,650
   Consulting & Mgmt Fees                     4,091        12,272         4,091
   Production Taxes                           3,421         9,981         4,209
   Lease Operating Expense                   10,741        41,285        26,897
   Lease Rentals                                -0-           -0-           361
                                        -----------   -----------   -----------

      Total Operating Expenses               31,453       103,238        66,561

Net Income (Loss) before income
    taxes                                     8,482        16,681       (16,140)
Provision for income taxes
(note 6)                                        -0-           -0-           -0-
                                        -----------   -----------   -----------
Net Income (Loss)                             8,482        16,681       (16,140)



Weighted Average Number of Common
  Shares Outstanding                     25,000,000    25,000,000    22,657,516

Earnings (Loss)forCommon Share          $    .00034   $    .00067   $    (.0007)


The accompany notes are an integral part of this statement.








                                       3
<PAGE>
<TABLE>
<CAPTION>

                               DOL RESOURCES, INC.
              CONDENSED UNAUDITED STATEMENT OF STOCKHOLDER'S equity
                  Nine Months ended September 30, 2000 and 1999

               Capital Stock                    Capital in
                  Number of                      Excess of      Accumulated      Treasury
                   Shares          Amount        Par Value        Deficit          Stock
               -------------   -------------   -------------   -------------   -------------

<S>              <C>            <C>              <C>             <C>             <C>
Balance at
1/1/00            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-
               -------------   -------------   -------------   -------------   -------------

Balance at
1/1/00            20,783,529         207,835       1,501,618      (1,546,947)           (375)
Net Income               -0-             -0-             -0-         (16,140)            -0-
               -------------   -------------   -------------   -------------   -------------
Treas. Stock
   Cancelled                                            (375)                           (375)
ELGT Stock
   Exchange        4,216,471          42,165         357,835
Parent Con-
   Tribution                                         667,692
               -------------   -------------   -------------   -------------   -------------
Balance at
9/30/99           25,000,000         250,000       2,526,770      (1,563,087)            -0-
</TABLE>


                          CONDENSED UNAUDITED STATEMENT
                        OF CHANGES IN FINANCIAL POSITION

                                                      Nine Months Ended:
                                                Sept. 30, 2000   Sept. 30, 1999
Financial Resources Provided
  By Operations:
  Net Income                                            16,681          (16,140)
  Items not requiring outlay
  of working Capital:
     Depletion, Deprec. and
     Amortization                                       39,000           10,594
                                                --------------   --------------
 Working Capital provided by
  operations                                            55,681           (5,546)
Decrease(increase) in Properties                        59,666         (407,619)
Reduction in other Assets                                  -0-           67,168
Increase in long term debt                                 -0-              -0-
                                                --------------   --------------

     Total Resources                                   115,347         (345,997)

Financial Resources Applied to
 Retirement of long-term debt                              -0-         (330,472)
Increase in common stock                                   -0-           42,165
Increase in contributed stock                              -0-        1,025,528
                                                --------------   --------------
Net Increase (Decrease) in
 Working Capital                                       115,347          391,224
Working Capital at begin. of period                    411,482           13,099
Working Capital at end of period                       526,829          404,323




                                       4
<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.

          Allowance for Bad Debts:
         Accounts  receivable  from  participants in oil and gas exploration are
         estimated to be at least 95%  collectible,  consequently a 5% allowance
         for  bad  debts  has  been  established   against  those   receivables.
         Receivables  from the  sale of oil and gas are  fully  collectible,  as
         accruals  are  based  primarily  on  collection  of oil and  gas  sales
         subsequent to year-end.

          Properties:
         The  Company  uses the full cost method of  accounting  for oil and gas
         acqusition,   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.



                                       5
<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 1999 with accounts receivable from Glauber Management
         Corp.of  $11,482.  The  balance  of this  account on  September  30,Was
         $126,829.

NOTE 3.  Income Taxes

         The Company as of December  31,  1998 had a net  operating  income loss
         carryover  for income  tax  purposes  of  approximately  $557,000.  The
         carryover  is available  to offset  taxable  income of future years and
         expires as follows:


                           2000       109,000
                           2001        40,000
                           2002        48,000
                           2003         3,000
                           2004        34,000
                           2007        14,000
                           2008        19,000
                           2009         1,000
                           2011       217,000
                           2012        57,000
                           2013        15,000
                                    ---------
                                      557,000










                                       6
<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
         uncertainly as to realization,no  future tax benefits are recognized at
         December 31, 1999.




























                                       7
<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
                                     2000 and 1999
                                    ---------------
Net Sales                               69,498
Interest and Other Income               (3,896)
General and Administrative              (6,059)
Depletion, Depreciation
  and Amortization                      28,406
Consulting & Management Fees             8,181
Interest Expense                       (13,650)
Net Income (Loss)                       32,821


         Oil and gas sales  increased  as compared the same period last year due
increase in the price per BBL of oil and some  increases  in  production  due to
workovers.

         The  recurring  cash  flow  for the  first  nine  months  of  2000  was
approximately $17,300 per month.Consulting and management fee expenses increased
due to the payment to Glauber  Management  Company  effective  7-1-99.  Interest
expense  decreased  due to  assumption  of bank debt by the  Glauber  Management
Company.  General and Administrative expenses decreased due to lack of insurance
and transfer fees.

         Management  expects  oil prices to level off and hold  steady at around
$27.00  per  barrel  through  the  remainder  of 2000.  This not only  increases
revenues  and cash flow but  enhances 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 order to expand operations and replace depleted
reserves.  Meanwhile 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 an impending  merger Gluaber  Management,  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 Glauber
Management Company were contributed to the Company.



                                       8
<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, 2000









                                       9