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:    X     NO:

          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

                Total Other Assets                     -0-       67,168

          TOTAL ASSETS                           1,213,683      931,340

                                       -2-
<PAGE>
                                 DOL Resources, Inc.

                                    BALANCE SHEET

                                                   Sept. 30    December 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>
                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
          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)


                            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. (the parent
                   company) 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 the parent company 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  the  parent
          corporation.   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, (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.

                                       -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-
<PAGE>