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, 1999

                                       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, 1999.

<PAGE>

                               DOL RESOURCES, INC.

         Index to Form 10-Q for Fiscal Quarter ended September 30, 1999.



                                                                        Page No.
PART 1 -  Financial Information

Condensed Unaudited Balance Sheet, September 30, 1999
      and December 31, 1998                                              2 - 3

Condensed Unaudited Statement of Income,
      Nine Months ended September 30, 1999 and 1998                        4

Condensed Unaudited Statement of Shareholder's
      Equity Nine Months ended September 30, 1999 and 1998                 5

Condensed Unaudited Statement of Changes in
      Financial Position Nine-Months Ended
        September 30, 1999 and 1998                                        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
                                                            1999         1998

CURRENT ASSETS
Cash                                                      $     -0-    $     870
Marketable securities, at
  lower or aggregate cost
  or market                                                 400,000        1,924
Trade accounts receivable,
  less allowance for doubtfiul
  accounts of $1,711, in 1998
  Note 1)                                                       -0-       22,927
Due from related parties-Note 3                               4,323      426,115
Prepaid Expenses                                                -0-          -0-
                                                          ---------    ---------

     Total Current Assets                                   404,323      451,836
                                                          ---------    ---------

PROPERTIES - Using full costing-

   Production payment                                       100,000      100,000
   Exploration, acquisition &
     development, cost, net of
     allowance for reduction of
     oil & gas assets of $137,083
     In 1985                                              2,057,927    1,649,985
                                                          ---------    ---------
           Total cost                                     2,157,927    1,749,985

Less accumulated depletion                                1,348,567    1,338,297
                                                          ---------    ---------
                                                            809,360      411,688
AUTOMOBILES, FURNITURE & FIXTURES
  At cost - Note 1

     Furniture and fixtures                                     -0-        6,476
                                                          ---------    ---------

     Less accumulated depreciation                              -0-        5,828
                                                          ---------    ---------
 Net Furniture and Fixtures                                     -0-          648
                                                          ---------    ---------


OTHER ASSETS
  Undeveloped coal royalties-                                   -0-       10,155
  Other accounts receivable-                                    -0-       57,012
  62,140                                                  ---------    ---------


      Total Other Assets                                        -0-       67,168
72,296                                                    ---------    ---------


TOTAL ASSETS                                              1,213,683      931,340
                                                          ---------    ---------




                                       2
<PAGE>

                               DOL Resources, Inc.

                                  BALANCE SHEET

                                                        Sept. 30,     Dec. 31,
                                                          1999          1998

CURRENT LIABILITIES
   Notes payable - Note 2                                     -0-       408,000
   Accounts payable                                           -0-        30,737
   Accrued expenses                                           -0-           -0-
                                                       ----------    ----------
     Total current liabilities                                -0-       438,737
                                                                     ----------


LONG-TERM LIABILITIES
   Accounts payable
     Total Long-Term Liabilities                              -0-       330,472
                                                       ----------    ----------
                                                              -0-       330,472

STOCKHOLDERS' EQUITY
         Capital Stock, common,
     $.01 par value:
     Authorized 25,000,000 shares
     Issued and outstanding:
     25,000,000 shares at 9-30-99
     and 20,783,529 at 1998                               250,000       207,835
     Capital in excess of
        par value                                       2,526,770     1,501,618
        Accumulated deficit                            (1,563,087)   (1,546,947)
     Treasury Stock                                           -0-          (375)
                                                       ----------    ----------
                                                        1,213,683       162,131

                      TOTAL                             1,213,683       931,340
                                                       ----------    ----------













                                       3
<PAGE>

                               DOL RESOURCES, INC.
                     CONDENSED UNAUDITED STATEMENT OF INCOME

                                        3 Months             9 Months
                                         Ended                 Ended
                                        9-30-99        9-30-99        9-30-98
Operating Revenue:
   Oil and Gas Sales                       31,030         46,525         35,745
   Interest and other income                  -0-          3,896          5,844

                   Total                   31,030         50,421         41,589

Operating Expenses:
   Depletion,depreciation
     and amortization                       5,000         10,594         12,795
   General and administrative               4,044          6,759            217
   Interest                                   -0-         13,650         20,313
 Consulting & Mgmt Fees                     4,091          4,091            -0-
   Production Taxes                         2,555          4,209          3,898
   Lease Operating Expense                 15,656         26,897         20,098
   Lease Rentals                              361            361            -0-

      Total Operating Expenses             31,707         66,561         57,321

Net Income (Loss) before income
    taxes                                    (677)       (16,140)       (15,732)
Provision for income taxes
(note 6)                                      -0-            -0-            -0-
Net Income (Loss)                            (677)       (16,140)       (15.732)



Weighted Average Number of Common
  Shares Outstanding                   25,000,000     22,657,516     20,671,254

Earnings (Loss)forCommon Share        $   (.00003)   $    (.0007)   $    (.0008)


The accompany notes are an integral part of this statement.






                                       4
<PAGE>
<TABLE>
<CAPTION>

                               DOL RESOURCES, INC.
              CONDENSED UNAUDITED STATEMENT OF STOCKHOLDER'S EQUITy
                  Nine Months ended September 30, 1999 and 1998



                            Capital Stock          Capital in
                       Number of                   Excess of    Accumulated    Treasury
                         Shares        Amount      Par Value      Deficit        Stock
<C>                    <C>          <C>            <C>          <C>           <C>
Balance at
1/1/99                 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-

Balance at
1/1/98                 20,671,254       206,713     1,502,741    (1,478,977)         (375)
Net Income                    -0-           -0-           -0-       (15,732)          -0-

Balance at
9/30/98                20,671,254       206,713     1,502,741    (1,494,709)         (375)
</TABLE>


                          CONDENSED UNAUDITED STATEMENT
                        OF CHANGES IN FINANCIAL POSITION

                                                       Nine Months Ended:
                                               Sept. 30, 1999    Sept. 30, 1998

Financial Resources Provided
  By Operations:
  Net Income                                          (16,140)          (15,732)
  Items not requiring outlay
  of working Capital:
     Depletion, Deprec. and
     Amortization                                      10,594            12,795
                                               --------------    --------------
Working Capital provided by
  operations                                           (5,546)           (2,937)
Increase in Properties                               (407,619)            3,500
Reduction in other Assets                              67,168             4,424
Increase in long term debt                                -0-               -0-
                                               --------------    --------------

         Total Resources                             (345,997)            4,987

Financial Resources Applied to
 Retirement of long-term debt                        (330,472)           (4,423)
Increase in common stock                               42,165
Increase in contributed stock                       1,025,528               -0-
                                               --------------    --------------
Net Increase (Decrease) in
 Working Capital                                      391,224               564
Working Capital at begin. of period                    13,099            66,381
Working Capital at end of period                      404,323            66,945




                                       5
<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.



                                       6
<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.   Notes Payable

          Notes payable consist of the following:

          Monthly     Interest    Due Within      Due After
          Installment Rate         One Year       One Year

          1998
          Note 1 due 7-14-99       $408,000       $  -0-

          Gateway  National  Bank.  Interest  only payable  monthly at 6.64% per
          annum over a year of 360 days.


NOTE 3.   Related Party Transactions

          The  Company  ended  1998  with  accounts   receivable   from  Glauber
          Management Corp. of $344,615. The balance of this account on September
          30, 1999 was $4,323.

NOTE 4.   Income Taxes

          The Company as of December  31, 1998 had a net  operating  income loss
          carryover  for income tax  purposes  of  approximately  $740,000.  The
          carryover is available  to offset  taxable  income of future years and
          expires as follows:



                                       7
<PAGE>

                           1998    241,000
                           1999     14,000
                           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
                                   -------
                                   740,000

          The Company also had  approximately  $17,000 of investment tax credits
          available for carryover against future federal income tax liabilities.

          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, 1998.
























                                       8
<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
                                   1999 and 1998

Net Sales                             10,780
Interest and Other Income             (1,948)
General and Administrative             6,242
Depletion, Depreciation
  and Amortization                    (2,201)
Consulting & Management Fees           4,091
Interest Expense                      (6,663)
Net Income (Loss)                       (408)


     Oil and gas sales  increased  as  compared  the same  period  last year due
primarily to the  contribution  of Oklahoma oil producing  properties by Glauber
Management and some increase in oil prices.

     The recurring cash flow for the first nine months of 1999 was approximately
$8,100 per month.  Consulting and  management fee expenses  increased due to the
payment  $1,000.00 per month to Gluaber  Management  Company  effective  7-1-99.
Interest  expense   decreased  due  to  assumptoipm  of  bank  debt  by  Glauber
Management.  General  and  Administrative  expenses  increased  due to legal and
transfer fees.

     Management  expects a slow upward  trend in oil and gas prices to continue.
This  would not only  increase  revenues  and cash flow but  would  enhance  our
ability to raise much needed  funds for  drilling  additional  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 were contributed to the Company.


                                       9
<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: November 4, 1999













                                       10