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

                                      FORM 10-Q
          (Mark One)
          [x]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D)
                        OF THE SECURITIES EXCHANGE ACT OF 1934

          For the quarter period ended:  September 30, 1995

                                          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 or other Jurisdiction of                (I.R.S. Employer  
           incorporation or organization)               Identification No.)

                 13636 Neutron Road, Dallas, Texas               75244-4410
             (Address of Principal Executive Offices)            (Zip Code)

                                    (214) 661-5869
                 (Registrant's telephone number, including area code)
                     ____________________________________________

          Indicate by check  mark whether the registrant (1)  has filed all
          reports  required  to be  filed  by Section  13  or 15(d)  of the
          Securities Act  of 1934  during the preceding  12 months  (or for
          such shorter period that the 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 at  September 30,
          1995. 

<PAGE>

                                 DOL RESOURCES, INC.

            Index to Form 10-Q for Fiscal Quarter ended September 30, 1995



                                                               Page No.
          PART 1 -  Financial Information   

          Condensed Unaudited Balance Sheet, September 30, 1995
                and December 31, 1994                               3 - 4

          Condensed Unaudited Statement of Income,
                Nine Months ended September 30, 1995 and 1994         5

          Condensed Unaudited Statement of Shareholder's
                Equity Nine Months ended Sept. 30, 1995 and 1994      6

          Condensed Unaudited Statement of Changes in
                Financial Position Nine-Months Ended
                  September 30, 1995 and 1994                         7

          Summary of Significant Accounting Policies and
                Notes to Condensed Unaudited Financial Statements    8-13

          Management's Discussion and Analysis of Condensed
                Financial Condition and Results of Operations         14

          PART 11 - Other Information

                Item 6(b) - Exhibits and Reports on Form 8-K          15

                Signature Pursuant to General Instruction E           15

          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.


                                          2 
<PAGE>

                                 DOL RESOURCES, INC.
                                    BALANCE SHEET

                                     (Unaudited)

                                        ASSETS
<TABLE>
          <S>                                    <C>           <C>
                                                  Sept. 30       Dec. 31
                                                    1995         1994  
          CURRENT ASSETS

          Cash                                   $  53,641     $ 26,127
          Marketable securities, at
            lower or aggregate cost 
            or market, cost $24,175
            in 1995 and 1994 - Note 2                1,924        1,924
          Trade accounts receivable, 
            less allowance for doubtful
            accounts of $1,711, ($1,711 in 1994
            Note 1)                                 20,448       19,050
          Due from related parties-Note 4          267,494      175,102
          Prepaid Expenses                          37,500       37,500    
                         
               Total Current Assets                381,007      259,703

          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                           1,654,290    1,654,290
                     Total cost                  1,754,290    1,754,290

          Less accumulated depletion             1,294,528    1,284,028
            Net Properties                         459,762      470,262    
                 
          AUTOMOBILES, FURNITURE & FIXTURES
            At cost - Note 1
                  Furniture and fixtures             6,476        6,476
                  

            Less accumulated depreciation            3,724        3,238
                  Net furniture and fixtures         2,752        3,240    
                          
          OTHER ASSETS
            Undeveloped coal royalties-Note 8       10,156       10,156
            Other accounts receivable-Note 7        79,384       84,534
                                                    89,540       94,690
              TOTAL ASSETS                         933,061      827,895
</TABLE>

                                          3 
<PAGE>
                                 DOL RESOURCES, INC.
                                    BALANCE SHEET

                                     (Unaudited)


<TABLE>
         <S>                                      <C>         <C>
                                                   Sept. 30    December 31,

                                                     1995        1994      
                   
          CURRENT LIABILITIES
             Notes payable - Note 3                 375,000      244,187
             Accounts payable                        29,973       29,759
             Accrued expenses                          -0-        28,067
               Total current liabilities            404,973      302,013
             
          LONG-TERM LIABILITIES
             Notes payable - Note 4 and 12           78,590       84,122
               Total Long-Term Liabilities           78,590       84,122

          STOCKHOLDERS' EQUITY
               Capital Stock, common,
               $.01 par value:
               Authorized 25,000,000 shares
               issued and outstanding
               20,671,234 shares at 6-30-95
               and 12-31-94                         206,713      206,713
               Capital in excess of
                  par value                       1,502,741    1,502,741
                  Accumulated deficit            (1,259,581)  (1,267,319)  
            Treasury Stock                     (        375) (       375)
                                                    449,498      441,760
                                     TOTAL          933,061      827,895 
</TABLE>

                                          4 

<PAGE>

                                 DOL RESOURCES, INC.
                       CONDENSED UNAUDITED STATEMENT OF INCOME

<TABLE>
          <S>                             <C>           <C>         <C>
                                          3  Months     9  Months   9 Months
                                          Ended         Ended       Ended
                                          9-30-95       9-30-95     9-30-94
          Operating Revenue:
             Oil and Gas Sales            11,640        36,060      48,489
             Interest and other income     2,264         7,797       8,925

                             Total        13,904        43,857      57,414

          Operating Expenses:
             Depletion,depreciation
               and amortization            3,662        10,986      13,191
             General and administrative      141         1,574       3,402
             Interest                      1,517         2,585         -0-
             Salaries                        -0-           -0-      23,070
           Production Taxes                1,281         3,796       5,096
             Lease Operating Expense       4,831        17,178      16,286
             Lease Rentals                   -0-           -0-         -0-

                Total Operating
                Expenses                  11,432        36,119      61,045

          Net Inome (Loss) before income
              taxes                        2,472          7,73      (3,631)    
          Provision for income taxes
         (note 6)                            -0-           -0-          -0- 
          Net Income (Loss)                2,472         7,738      (3,631)


          Weighted Average Number of
          Common Shares
          Outstanding                 20,671,254     14,921,25    20,671,254

          Earnings (Loss) for
          Common Share                   $.00001       $.00004     $(.0002)

          The accompany notes are an integral part of this statement.
</TABLE>
                                          5 
<PAGE>

                            DOL RESOURCES, INC.
            CONDENSED UNAUDITED STATEMENT OF STOCKHOLDER'S EQUITY
                    Nine Months ended September 30, 1995 and 1994
<TABLE>  

    <S>         <C>               <C>                <C>           <C>
                 Capital Stock     Capital in
                 Number  of        Excess of          Accumulatted  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-        7,738     -0-

    Balance at
    9/30/95     20,671,254        206,713 1,502,741   (1,259,581)  ( 375)
                                                                            
    Balance
    1/1/94      14,921,254        149,213 1,422,693   (1,253,765)  ( 375)
    Net Income     -0-              -0-         -0-      ( 3,631)     -0-


    Balance at
    9/30/94     14,921,254        149,213 1,422,693   (1,257,396)  ( 375)

</TABLE>

                                          6 

<PAGE>

                                  DOL RESOURCES, INC.   
                            CONDENSED UNAUDITED STATEMENT
                           OF CHANGES IN FINANCIAL POSITION
<TABLE>
         <S>                             <C>                    <C>
                                                   Nine Months Ended         
                                         September  30, 1995    Sept. 30, 1994
          Financial Resources Provided
            By Operations:
            Net Income                   7,738                  (  3,631)
            Items not requiring outlay
            of working Capital:
               Depletion, Deprec. and
               Amortization              10,986                 13,191

          Working Capital provided by
            operations                   18,724                 9,560     
                            
          Reduction in Properties          -0-                    -0-
          Reduction in other Assets       5,150                  5,912
          Increase in long term debt       -0-                    -0-  
               Total Resources           23,874                  15,472
          Financial Resources Applied to:
            Retirement of long-term debt  5,532                  6,608
            Increase in Properties         -0-                    -0-
                Total                     5,532                  6,608

          Net Increase (Decrease) in
            Working Capital              18,342                  8,864
                   
          Working Capital at begin.
          of period                      (42,310)                (82,439)

          Working Capital at end
          of period                      (23,968)                (73,575)
</TABLE>

                                          7 

<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  (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 acquisition,  exploration and  development
                    costs.   The  Company has  operations  only within  the
                    continental United States and consequently has only one
                    cost center.

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

                    Capitalized costs within the cost  center are amortized
                    on the units-of-production basis  using proved oil  and
                    gas reserves.   The carrying value of  capitalized cost
                    is  limited to  the sum  of  (A) the  present value  of
                    future net revenues from estimated production of proved
                    oil and gas  reserves, plus (B) the cost  of properties
                    not  being  amortized,  plus  (C)  the  lower  cost  or
                    estimated fair  value of  unproved properties  included
                    inn  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.

                                          8 
<PAGE>

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

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

                    Drilling  inn progress is  included in the  cost center
                    with depletion being  calculated on all costs  with the
                    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.
<TABLE>
                    <S>                           <C>            <C>
                                                   1995           1994
                    Aggregate Cost                24,175         24,175
                    Aggregate Market Value         1,924          1,924

                    Unrealized Loss*              22,251         22,251
</TABLE>
                    *The unrealized loss on marketable securities
                    is charged to operations.

                                          9 
<PAGE>

                                 DOL RESOURCES, INC.

                        NOTES TO FINANCIAL STATEMENTS (CONT.)

          NOTE 3:   Notes Payable

                    Notes payable consist of the following:
                                                    December  31, 1994
                     Monthly      Interest      Due  Within     Due After
                    Installment      Rate          One Year        One Year

                      1994
                    Note 1 Due 10-4-87  *       140,000            $   -0-
                    Note 2 Due 5-15-86  **      104,187                -0-
                                                244,187

                    1995                            September 30, 1995
            
                    Note 1 Due 1-1-96  **       375,000              $ -0-
                                               

                    *    First City Bank of Dallas, prime - 2%
                    **   Interest  only  payable  monthly at
                         Lender's  prime  +  2%  for  twelve
                         months   commencing   September  3,
                         1986;  $4,500 monthly plus interest
                         for twelve months  commencing 10-3-
                         87.   The entire  remaining balance
                         plus  accrued   interest  was   due
                         October 1, 1988.
           
                  ***    Gateway National Bank.  Interest
                         only payable monthly AT 7.08%
                         per annum over a year of 360 days.

                                          10 
<PAGE>

          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  also  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
                    Co.  as   contributed  capital.     Both  are
                    affiliated companies.   This was  reversed in
                    December, 1991.  The  Company ended 1994 with
                    account  receivable  from  Glabuer Management
                    Corp. (the parent company)  of $175,102.  The
                    balance of this account on Sept. 30, 1995 was
                    $267,494.

          NOTE 5:   Commitments:

                    The   Company   had   the   following   lease
                    obligations:
<TABLE>
                    <S>                      <C>       <C>
                                              Coal     Oil & Gas
                                             Leases      Leases
                    1993                     $  -0-     $   -0-
                    1994                        -0-         -0-
                    After 1994                  -0-         -0-

                                          11 
<PAGE>

                                 DOL RESOURCES, INC.

                        NOTES TO FINANCIAL STATEMENTS (CONT.)

          NOTE 6:   Income Taxes

                    The company as of December 31, 1994 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 extent  that
                    the   net  operating   loss  carryovers   are
                    utilized  for income  tax purposes  in future
                    years, the  deferred income  taxes eliminated
                    to give recognition to the carryover, as well
                    as credits  related to timing  differences of
                    the  current  year  not   recorded,  will  be
                    reinstated.

                    Because   of   timing   differences   related
                    principally  to  intangible  drilling  costs,
                    cumulative  losses for  income tax  reporting
                    purposes    exceed    those    reported    by
                    approximately  $576,000.     Because  of  the
                    uncertainty as to  realization, no future tax
                    benefits are recognized at December 31, 1994.

                                          12 
<PAGE>

          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  of
                    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 share 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
                    inn 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  inn prior  years.   These
                    coal  royalties  cover   approximately  2,901
                    gross acres  and 58 net  acres at the  end of
                    1994.   There were no coal  lease expirations
                    in 1994 and  1995.  Development is  not under
                    control of the company.

                                          13 
<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
                                              Ended Sept. 30,
                                               1995 and 1994

</TABLE>
<TABLE>
          <S>                                     <C>
          Net Sales                               (12,429)
          Interest and Other Income               ( 1,128)
          General & Administrative                ( 1,828)
          Depletion, Depreciation
            and Amortization                      ( 2,205)
          Interest Expense                          2,585
          Net Income (Loss)                        11,369
</TABLE>
               Oil and gas  sales decreased as compared to  the same period
          last year due to a decrease in the selling price of oil  and gas,
          and normal decline in production.

               The recurring  cash flow for  the first nine months  of 1995
          approximated  $7,800  per  month.    General  and  Administrative
          expenses  decreased due to a decrease in payroll taxes, Part-time
          salaries, were eliminated to off-set monthly interest payments on
          newly negotiated note payable.

               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.

                                          14 
<PAGE>








































                                          15












                                  Other 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 thereunto duly authorized.

                                        DOL RESOURCES, INC.



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







          Date:  October 30, 1995

























                                          16