U. S. Securities and Exchange Commission
                            Washington, D. C. 20549
                                  FORM 10-QSB

(Mark One)

     [ X ]  QUARTERLY REPORT UNDER SECTION 10 OR 15 (D) OF
THE SECURITIES EXCHANGE ACT OF 1934
     For the quarterly period ended September 30, 1997
                                    ------------------

     [   ]  TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF
                       THE EXCHANGE ACT
     For the transition period from to.

     Commission File Number: 0-9458
                             ------

                           Eagle Exploration Company
                           -------------------------
             (Exact name of Registrant as specified in it charter)

     Colorado                                   84-0804143
     --------                                   ----------
(State or other jurisdiction of                    (I.R.S. Employer ID Number)
 incorporation or organization)

                           1801 Broadway, Suite 700
                           Denver, Colorado   80202
                           ------------------------
                   (Address of principal executive offices)

                                (303) 296-3677
                                --------------
                          (Issuer's telephone number)

                        1776 Lincoln Street, Suite 1311
                           Denver, Colorado   80203
                           ------------------------
   (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.
                                                                        --

               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.
                                                              ---

     State the number of shares outstanding of each of the issuer's classed of
common  equity,  as  of  the  latest  practicable  date:  3,072,836.
                                                          ---------

     Transitional  Small  Business  Disclosure format: (Check One)  Yes No  X.
                                                                           --


<PAGE>
                  EAGLE EXPLORATION COMPANY AND SUBSIDIARIES
        INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS




PART I     FINANCIAL INFORMATION                         PAGE
------     ---------------------                         ----


Item 1     Unaudited Condensed Consolidated
------
          Balance Sheets - September 30, 1997,
          and March 31, 1997                              3

          Unaudited Condensed Consolidated
          Statements of Operations - Three
          Months Ended September 30, 1996
          and 1997 and Six Months Ended
          September 30, 1996 and 1997                    4

          Unaudited Condensed Consolidated
          Statements of Cash Flow - Six Months
          Ended September 30, 1996 and 1997               5

          Notes to Unaudited Condensed
          Consolidated Financial Statements               6

Item 2     Management's Discussion and Analysis
------
          of Financial Condition and Results
          of Operations                                   7




PART II     SIGNATURES                                   8
-------     ----------


<PAGE>



PART I
------
                             FINANCIAL INFORMATION
                             ---------------------
Item 1
------
                  EAGLE EXPLORATION COMPANY AND SUBSIDIARIES
                UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

<TABLE>
<CAPTION>

                                    ASSETS

                                                September 30,     March 31,
                                                    1997             1997
                                                    ----             ----
<S>                                                 <C>               <C>
Current assets
 Cash and cash equivalents                     $  132,208         $510,055
 Certificates of deposit                          491,000          194,000
 Other receivables                                  3,899            4,938
                                                ----------       ----------
   Total current assets                           627,107          708,993
                                                ----------       ----------

Office furniture, equipment and
 other, net of $225,496 of
 accumulated depreciation at
 September 30, 1997, and $222,096
 of accumulated depreciation at
 March 31, 1997.                                  30,478           33,378
Investment in limited liability
 company                                         119,420          119,420
Other                                             26,638           26,638
                                               ----------       ----------

Total assets                                  $  803,643       $  888,429
                                               ==========       ==========

                     LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
 Accounts payable                             $   13,018       $   18,648
 Deposits, deferred revenue
  and other                                        9,318            9,318
                                               ----------       ----------
    Total current liabilities                     22,336           27,966
                                               ----------      -----------

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                         (5,851,691)      (5,772,535)
                                               ---------        ---------
                                                 781,307          860,463
                                               ---------        ---------

Total liabilities and
  stockholders' equity                        $  803,643       $  888,429
                                               ==========      ==========
</TABLE>

      See Notes to Unaudited Condensed Consolidated Financial Statements.




<PAGE>
                  EAGLE EXPLORATION COMPANY AND SUBSIDIARIES
           UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>


               For the Three     For the Three     For the Six     For the Six
                Months Ended      Months Ended     Months Ended    Months Ended
                September 30,     September 30,    September 30,   September 30,
                    1997              1996             1997             1996
                    ----              ----             ----             ----
<S>                  <C>                <C>              <C>              <C>

Revenue:
 Interest income  $   11,175      $    6,483      $   21,759       $   22,233
 Other income          5,898           7,129          12,161           14,685
                    ----------     ----------     ----------        ----------

     Total Revenue    17,073          13,612          33,920           36,918
                     ---------     ----------     ----------         ----------

(Income) Expenses:

(Income) loss from 
 investment in
 limited liability 
 company                  -         (124,684)            -            (80,683)
Depreciation           1,700           2,555          3,400             5,110
Other operating 
 expenses             53,865          50,208        109,676           112,161
                    ----------     ----------     ----------         ---------

  Total (Income)
    Expense           55,565         (71,921)       113,076            36,588
                    ----------     ----------      ----------         --------
  Net Income 
   (Loss)           $(38,492)     $   85,533     $  (79,156)          $   330
                    ==========      ==========     ==========          ========
  Net Income 
   (Loss) Per 
   Share            $   (.01)     $      .03     $     (.03)                *
                    ==========      ==========     ==========           ========

Weighted average
 number of share
 outstanding       3,072,836       3,072,836      3,072,836           3,072,836
                    ==========     ==========     ==========          ==========
</TABLE>

* Less than $.01 per share


      See Notes to Unaudited Condensed Consolidated Financial Statements.

<PAGE>
                  EAGLE EXPLORATION COMPANY AND SUBSIDIARIES
           UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>


                                                 For the Six     For the Six
                                                Months Ended     Months Ended
                                                September 30,    September 30,
                                                    1997               1996
                                                    ----               ----
<S>                                                  <C>                <C>

CASH FLOWS FROM OPERATING ACTIVITIES:
 Net (loss) income                               $  (79,156)       $    330
                                                  ----------      ----------
 Adjustments to reconcile net income
  (loss) to net cash provided (used)
  by operating activities:
   Depreciation                                       3,400           5,110
   Income from investment in
    limited liability company                            -          (80,683)
 Change in assets and liabilities:
  Decrease (increase) in accounts
   receivable                                         1,039          (2,085)
  (Decrease) in accounts payable                     (5,630)       (101,520)
                                                   ----------      ----------

     Total adjustments                               (1,191)       (101,520)
                                                   ----------      ----------

     NET CASH FLOWS PROVIDED (USED)
      BY OPERATING ACTIVITIES                       (80,347)       (101,190)
                                                   ----------      ----------

CASH FLOWS FROM INVESTING ACTIVITIES:
 Collection of note receivable                           -          500,000
 Purchase of certificates of deposit               (297,000)       (491,000)
 Purchase of furniture and equipment                   (500)             -
 Return on investment in limited
  liability company                                      -          320,538
                                                    ----------     ----------

     NET CASH FLOWS PROVIDED (USED)
      BY INVESTING ACTIVITIES                      (297,500)        329,538
                                                     ----------      ----------

NET INCREASE (DECREASE) IN CASH AND
 CASH EQUIVALENTS                                  (377,847)        228,348

CASH AND CASH EQUIVALENTS, BEGINNING
 OF YEAR                                            510,055          41,387
                                                    ----------     ----------

CASH AND CASH EQUIVALENTS, END OF
 YEAR                                            $  132,208      $  269,735
                                                   ==========     ==========

</TABLE>

      See Notes to Unaudited Condensed Consolidated Financial Statements.

<PAGE>



                  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  to  a  fair  presentation of the
financial  position  at  September  30,  1997,  and March 31, 1997, and of the
condensed  consolidated  statements of operations for the three and six months
ended  September  30,  1996  and 1997 and condensed consolidated statements of
cash  flows  for the six months ended September 30, 1996 and 1997.  Except for
as  noted  in  the Company's 10-KSB, we are unable to obtain audited financial
statements  supporting the Company's investment in a limited liability company
(LLC)  at  March  31, 1997, or monthly financial statements for the six months
ended  September  30,  1997.   Therefore, this report has not incorporated the
financial  information  concerning  the  Company's  ownership in the LLC.  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,  with  the  above  mentioned  exception.
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,  1997,  included  in  the  Company's  10-KSB  filed with the
Securities  and  Exchange  Commission  on  June  27,  1997.

Item  2:    Management's'  Discussion  and Analysis of Financial Condition and
--------    ------------------------------------------------------------------
Results  of  Operation.
----------------------

Financial  Condition,  Liquidity  and  Capital  Resources
---------------------------------------------------------

     Eagle  Exploration  Company's  primary operations previously included the
purchase and development of residential real estate.  The Company's operations
also  previously  included  engaging in oil and gas exploration and production
activities,  acquiring  whole  or  partial interest in oil and gas leases, and
farming  out or reselling all or part of its interest in these leases to other
companies  in  the  oil  and gas industry.  The Company sold all land held for
development  during the year ended March 31, 1995.  Currently, the Company has
no  plans  to  acquire  additional  land  for  development  and  sale  but  is
investigating various potential acquisitions and other business opportunities.

     Cash  and  cash  equivalents decreased for the six months ended September
30,  1997,  $377,847.    For  the  same  period  the  certificates of deposits
increased  $297,000.

     Stockholders'  equity  decreased from $860,462 to $781,306 or $79,156 for
the  six  months  ended  September  30,  1997.

Results  of  Operations
-----------------------

For  the six months ended September 30, 1997, compared to the six months ended
------------------------------------------------------------------------------
September  30,  1996.
--------------------

     For  the six months ended September 30, 1997, the Company's total revenue
was  $33,920  as  compared  to  $36,918 for the six months ended September 30,
1996.

     Total  expenses  for  the six month period ended September 30, 1997, were
$113,076  as  compared  to  (net  of  income from the investment in the LLC of
$80,683)  or  $36,588  for  the  period  ended  September  30,  1996.

<PAGE>
                  EAGLE EXPLORATION COMPANY AND SUBSIDIARIES


PART II
-------

                                  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.  Joeckel
                                          -----------------------------
                                        Raymond  N.  Joeckel
                                        President/Chief  Financial
                                          Officer





                                   By:          /s/  Paul  M.  Joeckel
                                          ----------------------------
                                        Paul  M.  Joeckel
                                        Secretary

                                        Date:    November  11,  1997