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: June 30, 1996     

                                          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 - 20,671,254 shares as of June 30, 1996.











                                 DOL RESOURCES, INC.

              Index to Form 10-Q for Fiscal Quarter ended June 30, 1996



                                                               Page No.
          PART 1 -  Financial Information   

          Condensed Unaudited Balance Sheet, June 30, 1996
                and December 31, 1995                              2 - 3

          Condensed Unaudited Statement of Income,
                Six Months ended June 30, 1996 and 1995              4
                           
          Condensed Unaudited Statement of Shareholder's
                Equity Three Months ended June 30, 1996 and 1995     5     
           

          Condensed Unaudited Statement of Changes in
                Financial Position Six-Months Ended
                  June 30, 1996 and 1995                             5

          Summary of Significant Accounting Policies and
                Notes to Condensed Unaudited Financial Statements   6-11

          Management's Discussion and Analysis of Condensed
                Financial Condition and Results of Operations         12

          PART 11 - Other Information

                Item 6(b) - Exhibits and Reports on Form 8-K          13

                Signature Pursuant to General Instruction E           13

          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.






















                                 DOL RESOURCES, Inc.
                                    BALANCE SHEET

                                     (Unaudited)

                                        ASSETS
                                                  June 30    Dec. 31
                                                    1996         1995  
          CURRENT ASSETS

          Cash                                   $  46,247    $  49,215
          Marketable securities, at
            lower or aggregate cost 
            or market, cost $24,175
            in 1996 and 1995 - Note 2                1,924        1,924
          Trade accounts receivable, 
            less allowance for doubtfiul
            accounts of $1,711, ($1,711 in 1995
            Note 1)                                 22,257       18,347
          Due from related parties-Note 4          254,884      272,743
          Prepaid Expenses                          37,500       37,500
                
               Total Current Assets                362,812      379,729

          PROPERTIES - Using full costing-
             Note 1
             Production payment                    100,000      100,000
             Exploration, acquisition & 
               development, cost, net of 
               allowance for reduction of
               oil & gas assets of $137,083
               in 1985                           1,656,365    1,654,290
                     Total cost                  1,756,365    1,754,290

          Less accumulated deplation             1,304,451    1,297,651
                                                   451,914      456,639
          AUTOMOBILES, FURNITURE & FIXTURES
            At cost - Note 1
             
               Furniture and fixtures                6,476        6,476

               Less accumulated deprecition          4,209        3,885
                 Net Furniture and Fixtures          2,267        2,591
               
               Total Cost                            2,267        2,591

          OTHER ASSETS
            Undeveloped coal royalties-Note 9       10,156       10,155












            Other accounts receivable-Note 12       75,616       78,027
                                                    
                Total Other Assets                  85,772       88,183

          TOTAL ASSETS                             902,765      927,142    




                                
                                 DOL Resources, Inc.

                                    BALANCE SHEET

                                                   June 30   December 31,  
                                                     1996        1995    

          CURRENT LIABILITIES
             Notes payable - Note 3                 355,000      375,000
             Accounts payable                        37,218       28,592
             Accrued expenses                           -0-         -0- 
               Total current liabilities            392,218      403,592
             
          LONG-TERM LIABILITIES
             Notes payable - Note 4 and 12          299,003       77,669
               Total Long-Term Liabilities          299,003       77,669   
                                       

          STOCKHOLDERS' EQUITY
               Capital Stock, common,
               $.01 par value:
               Authorized 25,000,000 shares
               issued and outstanding
               20,671,234 shares at 6-30-96
               and 12-31-95                         206,713      206,713
               Capital in excess of
                  par value                       1,502,741    1,502,741
                  Accumulated deficit            (1,497,535)  (1,263,198)  
               Treasury Stcok                     (     375) (       375)
                                                    211,544      445,881 

                                     TOTAL          902,765       927,142
























                             


                                       


                                                                          

                                 DOL RESOURCES, INC.
                       CONDENSED UNAUDITED STATEMENT OF INCOME

                                             3 Months         6 Months
                                             Ended          Ended
                                             6-30-96    6-30-96  6-30-95
          Operating Revenue:
             Oil and Gas Sales               14,279      28,563  24,420
             Interest and other income        2,924       4,524   5,533

                             Total           17,203      33,087  29,953

          Operating Expenses:
             Depletion,depreciation
               and amortization               3,562       7,124   7,324
             General and administrative         999       1,569   1,433
             Interest                         3,597       4,865   1,068    
          Consulting & Mgmt Fees            236,745     236,745     -0-
             Production Taxes                 1,439       2,866   2,515
             Lease Operating Expense          6,660      14,255  12,347
             Lease Rentals                      -0-       -0-      -0- 

                Total Operating Expenses    253,002     267,424  24,687

          Net Income (Loss) before income
              taxes                        (235,799)   (234,337)  5,266
          Provision for income taxes
          (note 6)                            -0-         -0-       -0-  
          Net Income (Loss)                (235,799)   (234,337)  5,266



          Weighted Average Number of Common   
            Shares Outstanding           20,671,254  20,671,254  20,671,254

          Earnings (Loss) for Common Share  $(.0114)    $(.0113)    $.00025



          The accompany notes are an integral part of this statement.
























                                  DOL RESOURCES, INC.
                CONDENSED UNAUDITED STATEMENT OF STOCKHOLDER'S equity
                    Six Months ended June 30, 1996 and 1995

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

          Balance at
          1/1/95       20,671,254     206,713 1,502,741    (1,267,319)  (  
          375)
          Net Income        -0-         -0        -0-        5,266        -
          0-

          Balance at
          6/30/95      20,671,254     206,713  1,502,741   (1,262,053)   ( 
          375)

          Balance at
          1/1/96       20,671,254     206,713  1,502,741   (1,263,198)   ( 
          375)
          Net Income      -0-          -0-       -0-     (  234,337)      -
          0-

          Balance at
          6/30/96      20,671,254     206,713  1,502,741   (1,497,535)   ( 
          375)

                            CONDENSED UNAUDITED STATEMENT
                           OF CHANGES IN FINANCIAL POSITION
                                                  Three Months Ended:
                                            June 30, 1996     June 30, 1995
          Financial Resources Provided
            By Operations:
            Net Income                       (234,337)         5,266
            Items not requiring outlay
            of working Capital:
               Depletion, Deprec. and
               Amortization                     7,124          7,324

          Working Capital provided by
            operations                       (227,213)        12,590    
          Increase in Properties             (  2,075)          -0-
          Reduction in other Assets             2,411          3,324
          Increase in long term debt          225,000            -0-
               Total Resources               (  1,877)        15,914












          Financial Resources Applied to:
            Retirement of long-term debt        3,666          3,324    
            Increase in Properties               -0-            -0-
                  Total                         3,666          3,324

          Net Increase (Decrease) in
             Working Capital                   (5,543)        12,500

          Working Capoital at being of period (23,863)       (43,310)

          Working Capital at end of period    (29,406)       (29,720)



                                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   (Note   8)   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.

           

                                  DOL RESOURCES, INC
                        NOTES TO FINANCIAL STATEMENTS (CONT.)


          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.

                    Automobiles, Furniture and Fixtures

                    Depreciation is computed by the straight-line          
                    method on the cost of automobiles and furniture
                    and fixtures at rates based on their estimated
                    service lives.  Estimated lives in use are as
                    follows:
                             Automobiles               4 - 5 years
                             Furniture and Fixtures    5 - 12 years

                   During the year ended 12-31-87, all 
                   automobiles, furniture and fixtures were sold.
                   Additional furniture and fixtures were acquired
                   from an affiliate during 1988 as payment on
                   accounts receivable.

                   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.  Marketable Securities

                   Marketable securities are valued at the lower
                   of cost or market value.

                                                1996      1995  
                   Aggregate Cost             24,175    24,185
                   Aggregate Market Value      1,924     1,924

                   Unrealized loss*           22,251    22,251

                   *The unrealized loss on marketable securities
                   is charged to operations.







                                 DOL RESOURCES, INC.

                        NOTES TO FINANCIAL STATEMENTS (CONT.)

          NOTE 3.   Notes Payable

                    Notes payable consist of the following:

                                                         December 31, 1995
                    Monthly     Interest    Due Within      Due After
                    Installment Rate          One Year      One Year

                    1995
                    Note 1 due 1-9-96       $375,000          $  -0-

                                                          June 30, 1996
                    1996                                  
                    Note 1 due 2-9-97        355,000          $ -0-

                    Gateway National Bank.  Interest only payable 
                    monthly at 7.08% per annum over a year of 360 days.
                  

          NOTE 4.   Related Party Transactions:

                    As reported in the registrants 10-Q for the quarter
                    ended June 30, 1984, Featherstone Development
                    Corp. owned 3,245,099 shares.  Featherstone Farms,
                    Ltd. owned 609,058 shares, and Olen F. Featherstone
                    II owned 654,097 shares of DOL Resources, Inc. 
                    common stock from January 1, 1982 to April 14, 1984.  
                    The Featherstone group had a total of 4,509,254  shares
                    of common stock representing approximately 31,9% of the
                    total outstanding stock of DOL Resources, Inc. at












                    December 31, 1983.  On April 16, 1984 all of their
                    restricted shares in Petro Imperial Corporation
                    of Dallas, Texas, a Utah Corporation controlled by 
                    Commercial Technology, Inc.  Petro Imperial Corporation
                    purchased   an  additional   500,000   shares  of   DOL
          Resources,
                    Inc. common stock as on that date.

                    The Company acquired by assignment from Petro Imperial
                    Corp. in 1987 accounts receivable of $100,000
                    from Comtec Superior Management Co. and $139,719 from
                    Comtec Glauber Management Cio.as contributed capital.  
                    Both are affiliated companies.  This was reversed in 
                    December, 1991.  The Company ended 1995 with accounts
                    receivable from Glauber Management Corp. (the parent
                    company) of $272,743. The balance of this account on 
                    June 30, 1996 was $254,884.





          NOTE 5.  Commitments:

                   The Company had the following lease obligations:

                                              Coal    Oil & Gas
                                             Leases  
                   1994                      $  -0-   $  -0-
                   1995                         -0-      -0-
                   After 1995                   -0-      -0-


          NOTE 6. Income Taxes

                  The Company as of December 31, 1995 had a net operating
                  income loss carryover for income tax purposes of 
                  approximately $936,000.   The carryover is available
                  to offset taxable income of future years and expires as 
                  follows:
                                     1996    265,000
                                     1997    148,000
                                     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
                                             936,000













                  The Company also had approximately $27,000 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,
          1995.








          NOTE 7.   Legal Proceedings:

                    On November 20, 1979, Phillips Petroleum Company filed
                    a   complaint  with   the  Federal   Energy  Regulatory
          Commission
                    (Docket No. C180-70-00) against DOL Resources, Inc. and
                    other producers alleging that certain producer         
                    respondents    abandoned  the  sale f  natural  gas  to
          Phillips            without first obtaining necessary Commission 
                              authorization  under    Section  7(b)  of the
          Natural Gas               Act.  The Commission  ruled in favor of
          Phillips on April              16,  1985.  Effective December  1,
          1985, DOL's shares of              the settlement to be paid from
          future production from the              Miller-Jacobs #1  well as
          follows:  $160,000 payable out             of 30% of gas reserves
          accruing to its interest in                    production for the
          period December 1,  1985 through                     November 30,
          1989,. and payable out of 50% of  gas                    revenues
          accruing  to its interest in production on and              after
          December  1, 1989.  The  situation arose prior  to               
          present management's association with DOL Resources, Inc.        
            DOL has since entered into an agreement with past              
            management and will recover the entire amount on the           
            basis of the amounts of production withheld by Phillips.













          NOTE 8.   Undeveloped Coal Royalties

                    The undeveloped coal royalties were received in
                    exchange for stock in the company from Discovery Oil,
                    Ltd. (at the time the parent company of DOL Resources, 
                    Inc. ) in a related party transaction in prior years.
                    These coal royalties cover approximately 2,901 gross
                    acres and 58 net acres at the end of 1995.  There

                    were no coal lease expirations in 1995.  Development
                    is not under control of the company.




















                     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:
                                                Six Months
                                                ending June 30
                                                1996 and 1995

          Net Sales                                4,143
          Interest and Other Income              (1,009)
          General and Administrative                136
          Depletion, Depreciation
            and Amortization                      ( 200)
          Consulting & Management Fees          236,745
          Interest Expense                        3,797












          Net Income (Loss)                    (239,603)
           
              Oil  and gas sales increased  as compared to  the same period
          last year due to an increase in the price per BBL of oil.

             The recurring  cash flow for the first  six months of 1996 was
          approximately  $6,700  per  month.    General and  Administrative
          expenses increased slightly.    Interest expense increased due to
          restructuring  of  debt.   Accumulated  managements  fees due  to
          Commercial Technology  and its  management subsidiary  since 1986
          were booked during this period.

              Management  expects a slow upward trend in oil and gas prices
          to continue beyond $20.00  per Bbl.  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.

             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:  August 14, 1996