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U. S. Securities and Exchange Commission

Washington, D. C. 20549



FORM 10-QSB



|x | QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ---------------------------------------------------------------------------------



For the quarterly period ended June 30, 2005



| ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE EXCHANGE ACT
|- | ----------------------------------------------------------------------



For the transition period from
 to
.



Commission File No. 0-9458



Eagle Exploration Company

(Exact
name of registrant as specified in its character)



|                                                              |  |                                     
|------------------------------------------------------------- |  | ------------------------------------
|Colorado                                                      |  | 84-0804143                          
|(State or other jurisdiction ofincorporation or organization) |  | (IRS Employer Identification Number)



1801 Broadway
Street, Suite 1010, Denver, Colorado 80202

(Address and zip code of principal executive offices)



Registrants telephone number, including area code: (303) 296-3677



Indicated by check mark whether the registrant (1) filed all
reports required to be filed by Section 13 or 15(d) of the Exchange 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 ̈.



APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY



PROCEEDINGS DURING THE PRECEDING FIVE YEARS



Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15 (d) of the
Exchange Act after the distribution of securities under a plan confirmed by court.



Yes x No ̈.



Indicate the number of shares outstanding of each of the issuers classed of common equity, as of the latest
practicable date:



|             |  |                 
|------------ |  | ----------------
|Class        |  | Number of Shares
|Common stock |  | 3,072 836       



Transitional Small
Business Disclosure format: (Check one) Yes ̈No x.



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##### Table of Contents



EAGLE EXPLORATION COMPANY
AND SUBSIDIARIES



INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS



|                                            |  |                                                                                                       |  |     
|------------------------------------------- |  | ----------------------------------------------------------------------------------------------------- |  | ----
|                                            |  |                                                                                                       |  | Page
|PART I                                      |  | FINANCIAL INFORMATION                                                                                 |  |     
|                                            |  |                                                                                                      
|Item 1                                      |  | Condensed Consolidated Balance Sheets  March 31, 2005, and June 30, 2005 (Unaudited)                 |  | 2   
|                                            |  |                                                                                                      
|                                            |  | Unaudited Condensed Consolidated Statements of Operations  Three Months Ended June 30, 2005 and 2004 |  | 3   
|                                            |  |                                                                                                      
|                                            |  | Unaudited Condensed Consolidated Statement of Cash Flows  Three Months Ended June 30, 2005 and 2004  |  | 4   
|                                            |  |                                                                                                      
|                                            |  | Notes to Unaudited Condensed Consolidated Financial Statements                                        |  | 5   
|                                            |  |                                                                                                      
|Item 2                                      |  | Managements Discussion and Analysis of Financial Condition and Results of Operations                 |  | 6   
|                                            |  |                                                                                                      
|PART II                                     |  |                                                                                                       |  |     
|                                            | 
|Item 4  Disclosure Controls and Procedures |  | 7                                                                                                    
|                                            | 
|Item 6. Exhibits and reports on Form 8-K    |  | 7                                                                                                    
|                                            | 
|SIGNATURES                                  |  | 8                                                                                                    



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EAGLE EXPLORATION COMPANY AND SUBSIDIARIES



|PART I | FINANCIAL INFORMATION
|------ | ---------------------



|Item 1 | 
|------ | 



Condensed Consolidated Balance Sheets



|                                                                                                                                                  |  |              |            |   |               |   |            |  
|------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------ | ---------- | - | ------------- | - | ---------- | -
|                                                                                                                                                  |  | June 30,2005 |            |   | March 31,2005 |  
|                                                                                                                                                  |  | (Unaudited)  |            |   |               |  
|Assets                                                                                                                                            |  |              |            |   |               |   |            |  
|Current assets                                                                                                                                    |  |              |            |   |               |   |            |  
|Cash and cash equivalents                                                                                                                         |  | $            | 898,377    |   |               | $ | 938,301    |  
|Marketable securities                                                                                                                             |  |              | 106,353    |   |               |   | 110,348    |  
|Accounts receivable                                                                                                                               |  |              | 3,202      |   |               |   | 5,914      |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Total current assets                                                                                                                              |  |              | 1,007,932  |   |               |   | 1,054,563  |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Non-current assets                                                                                                                                |  |              |            |   |               |   |            |  
|Office furniture, equipment and other, net of accumulated depreciation of $206,849 and $205,036 at June 30, 2005 and March 31, 2005,
respectively |  |              | 49,169     |   |               |   | 50,982     |  
|Investment in option to purchase real estate                                                                                                      |  |              | 231,489    |   |               |   | 231,489    |  
|Other assets                                                                                                                                      |  |              | 24,837     |   |               |   | 24,837     |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Total non-current assets                                                                                                                          |  |              | 305,495    |   |               |   | 307,308    |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Total assets                                                                                                                                      |  | $            | 1,313,427  |   |               | $ | 1,361,871  |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Liabilities and Stockholders Equity                                                                                                              |  |              |            |   |               |   |            |  
|Current liabilities                                                                                                                               |  |              |            |   |               |   |            |  
|Accounts payable                                                                                                                                  |  | $            | 5,816      |   |               | $ | 5,380      |  
|Accrued expenses                                                                                                                                  |  |              | 11,385     |   |               |   | 11,385     |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Total current liabilities                                                                                                                         |  |              | 17,201     |   |               |   | 16,765     |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Stockholders equity                                                                                                                              |  |              |            |   |               |   |            |  
|Common stock, no par value; authorized 10,000,000 shares; 3,072,836 shares issued and outstanding                                                 |  |              | 6,632,998  |   |               |   | 6,632,998  |  
|Accumulated deficit                                                                                                                               |  |              | (5,380,497 | ) |               |   | (5,335,612 | )
|Unrealized gain on investments available-for-sale                                                                                                 |  |              | 43,725     |   |               |   | 47,720     |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|                                                                                                                                                  |  |              | 1,296,226  |   |               |   | 1,345,106  |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  
|Total liabilities and stockholders equity                                                                                                        |  | $            | 1,313,427  |   |               | $ | 1,361,871  |  
|                                                                                                                                                  |  |              |            |   |               |   |            |  



See notes to unaudited
condensed consolidated financial statements.



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EAGLE EXPLORATION COMPANY AND SUBSIDIARIES



Unaudited Condensed Consolidated Statements of Operations



|                                                             |  |                                    |           |   |      |   |           |  
|------------------------------------------------------------ |  | ---------------------------------- | --------- | - | ---- | - | --------- | -
|                                                             |  | For the Three Months EndedJune 30, |          
|                                                             |  | 2005                               |           |   | 2004 |  
|Revenues                                                     |  |                                    |           |   |      |   |           |  
|Oil and gas                                                  |  | $                                  | 10,977    |   |      | $ | 6,135     |  
|                                                             |  |                                    |           |   |      |   |           |  
|Total revenue                                                |  |                                    | 10,977    |   |      |   | 6,135     |  
|                                                             |  |                                    |           |   |      |   |           |  
|Expenses                                                     |  |                                    |           |   |      |   |           |  
|Depreciation                                                 |  |                                    | 1,813     |   |      |   | 1,474     |  
|General and administrative expenses                          |  |                                    | 58,998    |   |      |   | 52,280    |  
|                                                             |  |                                    |           |   |      |   |           |  
|Total expense                                                |  |                                    | 60,811    |   |      |   | 53,754    |  
|                                                             |  |                                    |           |   |      |   |           |  
|Loss from operations                                         |  |                                    | (49,834   | ) |      |   | (47,619   | )
|                                                             |  |                                    |           |   |      |   |           |  
|Other income                                                 |  |                                    |           |   |      |   |           |  
|Interest and dividend income                                 |  |                                    | 4,949     |   |      |   | 13,077    |  
|Realized loss on sale of investments available-for-sale      |  |                                    |          |   |      |   | (6,230    | )
|                                                             |  |                                    |           |   |      |   |           |  
|Total other income                                           |  |                                    | 4,949     |   |      |   | 6,847     |  
|                                                             |  |                                    |           |   |      |   |           |  
|Net loss before other comprehensive loss                     |  |                                    | (44,885   | ) |      |   | (40,772   | )
|                                                             |  |                                    |           |   |      |   |           |  
|Other comprehensive loss                                     |  |                                    |           |   |      |   |           |  
|Unrealized loss on investments available-for-sale            |  |                                    | (3,995    | ) |      |   | (24,146   | )
|                                                             |  |                                    |           |   |      |   |           |  
|Total other comprehensive loss                               |  |                                    | (3,995    | ) |      |   | (24,146   | )
|                                                             |  |                                    |           |   |      |   |           |  
|Comprehensive loss                                           |  | $                                  | (48,880   | ) |      | $ | (64,918   | )
|                                                             |  |                                    |           |   |      |   |           |  
|Basic and diluted weighted average common shares outstanding |  |                                    | 3,072,836 |   |      |   | 3,072,836 |  
|                                                             |  |                                    |           |   |      |   |           |  
|Basic and diluted loss per common share                      |  | $                                  | (.02      | ) |      | $ | (.01      | )
|                                                             |  |                                    |           |   |      |   |           |  



See notes to unaudited
condensed consolidated financial statements.



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EAGLE EXPLORATION COMPANY AND SUBSIDIARIES



Unaudited Condensed Consolidated Statements of Cash Flows



|                                                                            |  |                                    |         |   |      |   |         |  
|--------------------------------------------------------------------------- |  | ---------------------------------- | ------- | - | ---- | - | ------- | -
|                                                                            |  | For the Three Months EndedJune 30, |        
|                                                                            |  | 2005                               |         |   | 2004 |  
|Cash flows from operating activities                                        |  |                                    |         |   |      |   |         |  
|Net loss                                                                    |  | $                                  | (44,885 | ) |      | $ | (40,772 | )
|                                                                            |  |                                    |         |   |      |   |         |  
|Adjustments to reconcile net loss to net cash used in operating activities: |  |                                    |         |   |      |   |         |  
|Depreciation                                                                |  |                                    | 1,813   |   |      |   | 1,474   |  
|Loss on disposal of investments available-for-sale                          |  |                                    |        |   |      |   | 6,230   |  
|Change in assets and liabilities:                                           |  |                                    |         |   |      |   |         |  
|Decrease in accounts receivable                                             |  |                                    | 2,712   |   |      |   | 1,359   |  
|Decrease in accounts payable                                                |  |                                    | 436     |   |      |   |        |  
|                                                                            |  |                                    |         |   |      |   |         |  
|                                                                            |  |                                    | 4,961   |   |      |   | 9,063   |  
|                                                                            |  |                                    |         |   |      |   |         |  
|Net cash flows used in operating activities                                 |  |                                    | (39,924 | ) |      |   | (31,709 | )
|                                                                            |  |                                    |         |   |      |   |         |  
|Cash flows from investing activities                                        |  |                                    |         |   |      |   |         |  
|Redemption of certificates of deposit                                       |  |                                    |        |   |      |   | 200,000 |  
|Proceeds from the sale of investments available-for-sale                    |  |                                    |        |   |      |   | 93,771  |  
|                                                                            |  |                                    |         |   |      |   |         |  
|Net cash flows provided by investing activities                             |  |                                    |        |   |      |   | 293,771 |  
|                                                                            |  |                                    |         |   |      |   |         |  
|Net (decrease) increase in cash and cash equivalents                        |  |                                    | (39,924 | ) |      |   | 262,062 |  
|Cash and cash equivalents, beginning of period                              |  |                                    | 938,301 |   |      |   | 264,257 |  
|                                                                            |  |                                    |         |   |      |   |         |  
|Cash and cash equivalents, end of period                                    |  | $                                  | 898,377 |   |      | $ | 526,319 |  
|                                                                            |  |                                    |         |   |      |   |         |  



Supplemental disclosure of cash flow
information:



The change in unrealized loss on investments
available for sale for the three months ended June 30, 2005 and June 30, 2004 was $3,995 and $24,146, respectively.



See notes to unaudited condensed consolidated financial statements.



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EAGLE EXPLORATION COMPANY AND SUBSIDIARIES



Notes to Unaudited Condensed Consolidated Financial Statements



Opinion of Management



1. The financial information furnished reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position at
June 30, 2005, and March 31, 2005, and of the condensed consolidated statements of operations and condensed consolidated statements of cash flows for the three months ended June 30, 2005 and 2004. The results of operations and statements of cash
flows for the periods presented are not necessarily indicative of those to be expected for the entire year.



2. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they do not
include all of the information and footnotes required by generally accepted accounting principles. For further information refer to the audited consolidated financial statements and notes thereto for the year ended March 31, 2005, included in the
Companys 10-KSB filed with the Securities and Exchange Commission on June 20, 2005.



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EAGLE EXPLORATION COMPANY AND SUBSIDIARIES



|Item 2: | Managements Discussion and Analysis of Financial Condition and Results of Operation
|------- | ------------------------------------------------------------------------------------



Plan of Operations



Eagle Exploration Companys history of operations includes the purchase and development of residential and commercial
real estate. In 1992 the Company began the change of its focus from oil and gas exploration to real estate development and in connection with this change subsequently sold most of its oil and gas interests and investments. However, the Company
continues to hold minor interests in oil and gas properties and indirect interests by acquiring equity in other oil and gas companies. The Company is also investigating various potential acquisitions and other business opportunities.



Financial Condition, Liquidity and Capital Resources



The Companys cash at June 30, 2005 was $898,377 as
compared to cash for the year ended March 31, 2005 of $938,301. This decrease in cash of $39,924 was primarily due to operating costs.



Stockholders equity decreased from $1,345,106 at March 31, 2005 to $1,296,226 at June 30, 2005 or $44,880. The Company incurred an unrealized loss
on investments available-for-sale for the period ended June 30, 2005 of $3,995 and a net loss before other comprehensive income of $48,885.



Results of Operations



For the Three Months Ended June 30, 2005, Compared to the Three Months Ended June 30, 2004.



For the three months ended June 30, 2005, the Companys oil and gas revenue was $10,977 as compared to $6,135 for the
three months ended June 30, 2004. This increase in revenue is primarily due to the increased price in oil and gas. Other income including interest and dividend income was $4,949 for the period ended June 30, 2005 and $13,077 for the period ended
June 30, 2004.



Total expense for the three months ended June
30, 2005, was $60,811 as compared to $53,754 for the three months ended June 30, 2004. Unrealized loss on investments available-for-sale was $3,995 for the period ended June 30, 2005, and $24,146 for the period ended June 30, 2005. This resulted in
a comprehensive loss of $48,880 for the period ended June 30, 2005 and $58,688 for the period ended June 30, 2004.



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PART II



Item 4  Disclosure Controls and Procedures



As of the end of the period covered by this report, the Company conducted an evaluation, under the supervision and with the participation of the principal executive officer and principal financial officer, of the Companys disclosure
controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the Exchange Act)). Based on this evaluation, the principal executive officer and principal financial officer concluded that
the Companys disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within
the time periods specified in Securities and Exchange Commission rules and forms. There was no change in the Companys internal control over financial reporting during the Companys most recently completed fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the Companys internal control over financial reporting.



|Item 6. | Exhibits and reports on Form 8-K
|------- | --------------------------------



(a) Exhibits



Exhibit 31.1 Certification of President and Chief Executive Officer Pursuant to 18 USC Section 1350, as adopted pursuant to section 302 of the Sarbanes-Oxley Act of 2002



Exhibit 31.2 Certification of Secretary and Chief Financial Officer Pursuant to 18 USC
Section 1350, as adopted pursuant to section 302 of the Sarbanes-Oxley Act of 2002



Exhibit 32.1 Certification of President and Chief Executive Officer Pursuant to 18 USC Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002



Exhibit 32.2 Certification of Secretary and Chief Financial Officer Pursuant to 18 USC Section 1350, as adopted pursuant to section 906 of
the Sarbanes-Oxley Act of 2002



(b) No reports on Form 8-K have
been filed during the quarter ended June 30, 2005.



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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.



EAGLE EXPLORATION COMPANY(Registrant)By:

/s/ Raymond N. JoeckelRaymond N. JoeckelPresident and Chief Executive OfficerBy:

/s/ Paul M. JoeckelPaul M. JoeckelSecretary and Chief Financial Officer




Date: August 12, 2005



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