U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.   20549

                                  FORM 10-QSB
(Mark One)
        x      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
    --------
                     OF THE SECURITIES EXCHANGE ACT OF 1934

For Quarterly period ended                             Commission File
February 28, 1999                                      Number 0-6529

               TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
    --------
                     OF THE SECURITIES EXCHANGE ACT OF 1934
          For the transition period from                          to
                                         ------------------------   ------------

                     DOUBLE EAGLE PETROLEUM AND MINING CO.
               (Exact name of small business issuer as specified
                                in its charter)

    WYOMING                                                     83-0214692
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                             Identification No.)

                        777 Overland Trail, P.O. Box 766
                           Casper, Wyoming      82602
                    (Address of principal executive offices)

                                  307-237-9330
                          (Issuer's telephone number)



                                 NOT APPLICABLE
        (Former name, former address, and former fiscal year, if changed
                               since last report)


Check whether the issuer (1) filed all  reports required to be filed by  Section
13 or 15(d) of the Exchange Act during the  past 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
                                                                --------    ----

Common stock,  4,365,401  shares having  a  par value  of  $.10 per  share  were
outstanding as of April 8, 1999.

Transitional Small Business Disclosure format (check one):
                                                             Yes         No   X
                                                                ---------  -----
<PAGE>
                   DOUBLE EAGLE PETROLEUM AND MINING COMPANY

<TABLE>
                                     INDEX
<CAPTION>
                                                                   Page

<S>                                                              <C>
PART I. FINANCIAL INFORMATION:

Item 1. Financial Statements

Balance Sheets as of February 28, 1999
     and August 31, 1998                                            I.
Statements of Operations for the three and six months
     ended February 28, 1999 and 1998                              II.
Statements of Cash Flows for the six months
     ended February 28, 1999 and 1998                              III.
Notes to Financial Statements                                      IV.

Item 2. Management's Discussion and Analysis of
        Financial Condition and Results of
        Operations                                                  V.

PART II. OTHER INFORMATION

Item 4. Submission of matters to a vote of security holders        VI.

Item 6. Exhibits and Report on Form 8-K                            VI.

Signatures                                                         VII.


</TABLE>
<PAGE>







                                     PART I





                             FINANCIAL INFORMATION
<PAGE>
                                                                              I.
                   DOUBLE EAGLE PETROLEUM AND MINING COMPANY
                                 BALANCE SHEETS
                     FEBRUARY 28, 1999 AND AUGUST 31, 1998
<TABLE>
<CAPTION>
                                                              February 28,     August 31,
                                                                  1999            1998

                                                              (Unaudited)
<S>                                                           <C>             <C>
ASSETS

CURRENT ASSETS
Cash and cash equivalents                                   $      204,429   $      97,429
Accounts receivable                                                144,811         156,174

Total Current Assets                                               349,240         253,603

OTHER ASSETS
Gas balancing arrangement                                           82,277          82,277
Investment                                                             125             125
Other                                                               16,500          36,500

Total Other Assets                                                  98,902         118,902

PROPERTY AND EQUIPMENT
Undeveloped properties                                             639,022         602,359
Developed properties                                             4,513,419       4,051,469
Corporate and other                                                254,296         253,238

                                                                 5,406,737       4,907,066
Less accumulated depreciation, depletion, and amortization       2,115,268       2,016,359

Net Properties and Equipment                                     3,291,469       2,890,707


Total Assets                                                $    3,739,611   $   3,263,212



LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable                                            $       81,657   $      70,852
Accrued production taxes                                            24,216          29,743

Total Current Liabilities                                          105,873         100,595


Total Liabilities                                                  105,873         100,595

STOCKHOLDERS' EQUITY
Common stock, $.10 par value; - 10,000,000 shares,
authorized, 4,365,401 shares issued and outstanding                436,537         393,262
Capital in excess of par value                                   2,660,538       2,126,625
Retained earnings                                                  536,663         642,730

Total Stockholders' Equity                                       3,633,738       3,162,617


Total Liabilities and Stockholders' Equity                  $    3,739,611   $   3,263,212


<FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>
                                                                             II.

                   DOUBLE EAGLE PETROLEUM AND MINING COMPANY
                            STATEMENTS OF OPERATIONS
                                   (UNAUDITED)
<TABLE>
<CAPTION>
                                          For the Three Months Ended      For the Six Months Ended
                                         February 28,    February 28,   February 28,    February 28,
                                             1999            1998           1999            1998

<S>                                      <C>             <C>            <C>             <C>
REVENUES
Oil and gas sales                       $     167,719  $      216,805  $     348,867  $      389,544
Sales of nonproducing leases                        -               -         97,619               -
Other income                                      358             304            423           1,093

Total                                         168,077         217,109        446,909         390,637

COSTS AND EXPENSES
Production costs                               54,180          20,435         76,350          36,032
Production taxes                               22,277          23,146         46,374          43,464
Exploration expenses                           34,856          38,442        117,397          55,495
Write offs and abandonments                       256             924         11,048          38,806
General and administrative                    116,353         111,040        205,877         212,384
Depreciation and depletion                     49,455          33,885         98,910          67,770

Total                                         277,377         227,872        555,956         453,951

(LOSS) FROM OPERATIONS                       (109,300 )       (10,763)      (109,047 )       (63,314)

OTHER INCOME (EXPENSE)
Interest income                                 2,712           1,344          4,641           9,239
Interest expense                               (1,661 )          (309)        (1,661 )          (309)

                                                1,051           1,035          2,980           8,930

(LOSS) BEFORE INCOME TAXES                   (108,249 )        (9,728)      (106,067 )       (54,384)

INCOME TAX (BENEFIT)
Current                                             -               -              -               -
Deferred                                            -          (1,460)             -          (8,158)

Total                                               -          (1,460)             -          (8,158)


NET (LOSS)                              $    (108,249 )$       (8,268) $    (106,067 )$      (46,226)

BASIC/DILUTED
  (LOSS) PER SHARE                      $        (.03 )$         (.00) $        (.03 )$         (.01)

AVERAGE SHARES OUTSTANDING                  4,253,320       3,880,651      4,092,100       3,880,651

DIVIDENDS PER SHARE OF COMMON STOCK     $         .00  $          .00  $         .00  $          .00




<FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>


                                                                            III.

                   DOUBLE EAGLE PETROLEUM AND MINING COMPANY
                            STATEMENTS OF CASH FLOWS
              FOR THE SIX MONTHS ENDED FEBRUARY 28, 1999 AND 1998
<TABLE>
<CAPTION>
                                                           1999          1998

<S>                                                      <C>          <C>
OPERATING ACTIVITIES:
Net (loss)                                              $ (106,067)  $  (46,226)
Charges to income not requiring cash:
Depreciation and depletion                                  98,910       67,770
Abandoned properties                                        11,048        5,577
Decrease (increase) in operating assets:
Accounts receivable                                         11,363       39,869
Deposits                                                    20,000      (90,391)
Increase (decrease) in operating liabilities:
Accounts payable                                            10,805      (97,245)
Accrued production taxes                                    (5,527)     (11,736)
Deferred tax liability                                           -       (8,158)

Net cash provided by (used in) operating activities         40,532     (140,540)


INVESTING ACTIVITIES:
Purchases of properties                                   (510,720)    (485,511)

Net cash (used in) investing activities                   (510,720)    (485,511)


FINANCING ACTIVITIES:
Proceeds from private placement                            514,688            -
Issuance of common stock                                    62,500            -
Borrowings on line of credit arrangement                         -      150,000

Net cash provided by financing activities                  577,188      150,000


INCREASE (DECREASE) IN CASH                                107,000     (476,051)

CASH AND CASH EQUIVALENTS
Beginning of period                                         97,429      868,313


End of period                                           $  204,429   $  392,262

SUPPLEMENTAL DISCLOSURES OF CASH AND
  NON-CASH TRANSACTIONS
Cash paid during the period for interest                $    1,661   $      309


<FN>
See accompanying notes to financial statements.
</TABLE>
<PAGE>                                                                    IV.

                   DOUBLE EAGLE PETROLEUM AND MINING COMPANY
                         NOTES TO FINANCIAL STATEMENTS



1.Summary of Significant Accounting Policies

  Refer to the Company's annual  financial statements for the year ended  August
  31,  1998, for  a  description of  the  accounting policies  which  have  been
  continued  without change.  Also, refer  to the  footnotes with  those  annual
  statements  for  additional details  of  the  Company's  financial  condition,
  results of  operations, and cash flows.  The details in  those notes have  not
  changed except as a result of normal transactions in the interim.

2.Management Representation

  In management's  opinion, all adjustments  necessary for  a fair  presentation
  are reflected in the interim  financial statements. Such adjustments are of  a
  normal recurring nature.

3.Interim Results of Operations

  The results  of operations for  the period ended  February 28,  1999, are  not
  necessarily indicative of the operating results for the full year.

4.Common Stock and Warrants

  During the  six months ended  February 28, 1999,  the Company offered  through
  private placement  374,750 Units for  $1.375 per Unit.  Each Unit consists  of
  one share of common stock and one redeemable warrant to purchase one share  of
  common stock at an exercise price of $1.375 per share.
<PAGE>
                                                                              V.


                   DOUBLE EAGLE PETROLEUM AND MINING COMPANY
                ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                 FINANCIAL CONDITION AND RESULTS OF OPERATIONS


RESULTS OF OPERATIONS

Year to Date Results of Operations Compared to Prior Year to Date Results

During the current six  month period, the Company  purchased an interest in  the
"Government Bridge"  filed.  The  increase in  production  contributed  by  this
acquisition was not enough to offset  the decrease in revenues resulting from  a
decline in oil and gas pricing. Overall, oil and gas sales dropped 10% from  the
same six  month period  of one  year ago.  The Company  performed a  substantial
amount of work  enhancing the production  on the government  bridge field.  This
resulted in a 112% increase in production  costs over the same six month  period
of one year ago. Exploration costs increased 112% for the current six months  as
compared to the corresponding  six months of the  prior year. This increase  was
due primarily to  the drilling  and write-off of  a dry  hole. Depreciation  and
depletion expense increased 46%, due to an increase in production.

Current Quarter Compared to Previous Quarter

Revenues from oil and gas sales  declined by 7%, due  primarily to a decline  in
oil and gas pricing. Production costs  increased by 144%, primarily due to  work
performed on the Government Bridge field.  Exploration costs declined by 58%  as
there  was  no   drilling  activity  in   the  current   quarter.  General   and
administrative expenses increased by 30%, due primarily to shareholder relations
expenses.

Current Quarter Compared to Corresponding Quarter of Prior Year

Oil and  gas sales  decreased 23%  due to  a  decline in  oil and  gas  pricing.
Production costs increased 165% due primarily  to work on the Government  Bridge
field.  Depreciation  and  depletion  increased  46%  due  to  an  increase   in
production.

Financial Condition

Operating activities for the six month period ending February 28, 1999  provided
$40,500 of cash.  $515,000 was provided  from the private  placement of  374,750
shares of stock.  The primary  use of  these funds  was the  acquisition of  the
Government Bridge field for $384,000. This  acquisition resulted in an  increase
in 122,250 barrels of producing oil reserves. Overall, working capital increased
by $86,000.
<PAGE>
                                                                             VI.







                          PART II.  OTHER INFORMATION

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS



During the  annual  stockholders' meeting  on  January 20,  1999  the  following
directors were elected:

                                William N. Heiss
                                 Tom R. Creager
                               Stephen H. Hollis
                                 Ken M. Daraie
                               Thomas J. Vessels

Hocker, Lovelett, Hargens & Skogen, P.C. was approved as auditor for the year
ending August 31, 1999, with 2,330,392 votes for, 2,220 votes against, and
13,017 abstaining.

ITEM 6.  EXHIBITS AND REPORT ON FORM 8-K

No Forms 8-K were filed during the period covered by this report.

<PAGE>




                                                                            VII.






                                   SIGNATURES



Pursuant to  the  requirements of  the  Securities  Exchange Act  of  1934,  the
registrant has  duly caused  this report  to  be signed  on  its behalf  by  the
undersigned thereunto duly authorized.

                                       DOUBLE EAGLE PETROLEUM AND MINING COMPANY
                                                     (Registrant)



                                                           /s/ Stephen H. Hollis
                                                           ---------------------
                                                               Stephen H. Hollis
                                       Treasurer and Principal Financial Officer


Date: April 13, 1999


<PAGE>