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 December 31, 1998

      {    }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 its charter)

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

                       1801 Broadway, Suite 1420
                        Denver, Colorado 80202
               (Address of principal executive offices)

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

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 14(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 CONSOLIDATED FINANCIAL STATEMENTS


PART I     FINANCIAL INFORMATION                                   PAGE

Item 1     Unaudited Condensed Consolidated Balance Sheets -
------
           December 31, 1998 and March 31, 1998                       3

           Unaudited Condensed Consolidated Statements of
           Operations - Three Months Ended December 31, 1997
           And 1998 and Nine Months Ended December 31,
           1997 and 1998                                              4

           Unaudited Condensed Consolidated Statements of Cash
           Flow - Nine Months Ended December 31, 1997 and 1998        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>


                                                              December 31,      March 31,
                                                                  1998            1998
                                                              ------------     ------------
                                    Assets
<S>                                                           <C>              <C>
Current assets
  Cash and cash equivalents .............................     $ 1,748,752      $   333,450
  Certificates of deposits ..............................         797,000          297,000
  Other receivables .....................................          13,343            4,143
                                                              -----------      -----------
   Total current assets .................................       2,559,095          634,593
                                                              -----------      -----------

Office  furniture, equipment and other,
 net of $239,251 of accumulated
 depreciation at December 31, 1998,
 and $228,797 of accumulated
 depreciation at March 31, 1998 .........................          62,967           44,066
Investment in limited liability company .................            --             24,725
Other ...................................................          26,637           26,637
                                                              -----------      -----------

Total assets ............................................     $ 2,648,699      $   730,021
                                                              ===========      ===========

                     Liabilities and Stockholders' Equity

Current liabilities
  Accounts payable ......................................     $     7,712      $    24,825
  Deposits, deferred revenue and other ..................           8,996            8,996
                                                              -----------      -----------
   Total current liabilities ............................          16,708           33,821
                                                              -----------      -----------

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 ...................................      (4,001,007)      (5,936,798)
                                                              -----------      -----------
                                                                2,631,991          696,200

Total liabilities and stockholders' equity ..............     $ 2,648,699      $   730,021
                                                              ===========      ===========

</TABLE>






  See notes to unaudited condensed consolidated financial statements

                                   3


<PAGE>


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


                                                   For the          For the          For the          For the
                                                    Three            Three             Nine            Nine
                                                    Months           Months           Months          Months
                                                     Ended            Ended            Ended           Ended
                                                  December 31,     December 31,     December 31,    December 31,
                                                      1998             1997             1998           1997
                                                  -----------      -----------      -----------     -----------

<S>                                               <C>             <C>              <C>              <C>
Revenue
  Income from investment in limited
   liability company ........................     $   (13,150)     $      --        $ 2,035,429     $      --
  Interest income ...........................          35,565           16,144           68,913          37,903
  Other income ..............................          27,491            6,230           37,950          18,391
                                                  -----------      -----------      -----------     -----------
   Total revenue ............................          49,906           22,374        2,142,292          56,294
                                                  -----------      -----------      -----------     -----------

Expenses
  Depreciation ..............................           3,580            1,700           10,454           5,100
  Other operating expenses ..................          49,977           52,849          196,047         162,525
                                                  -----------      -----------      -----------     -----------
   Total expense ............................          53,557           54,549          206,501         167,625
                                                  -----------      -----------      -----------     -----------

Net income (loss) ...........................     $    (3,651)     $   (32,175)     $ 1,935,791     $  (111,331)
                                                  ===========      ===========      ===========     ===========

Net income (loss) per share .................     $     (.001)     $      (.01)     $       .63     $      (.04)
                                                  ===========      ===========      ===========     ===========

Weighted average number of shares outstanding       3,072,836        3,072,836        3,072,836       3,072,836
                                                  ===========      ===========      ===========     ===========

</TABLE>


  See notes to unaudited condensed consolidated financial statements.

                                   4



<PAGE>


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


                                                    For the
                                                  Nine Months     For the Nine
                                                     Ended        Months Ended
                                                  December 31,    December 31,
                                                     1998             1997
                                                 ------------     -----------
Cash flows from operating activities
  Net income (loss) .........................     $ 1,935,791      $  (111,331)
                                                  -----------      -----------
  Adjustments to reconcile net income
   (loss) to  net cash provided (used)
    by operating activities
  Depreciation ..............................          10,454            5,100
  Change in assets and liabilities
   (Increase) decrease in accounts receivable          (9,200)             271
   Decrease in accounts payable .............         (17,113)         (10,150)
      Total adjustments .....................         (15,859)          (4,779)
                                                  -----------      -----------
      Net cash flows provided (used) by
      operating activities ..................       1,919,932         (116,110)
                                                  -----------      -----------

Cash flows from investing activities
  Purchase of certificates of deposit .......        (500,000)        (198,000)
  Purchase of furniture and equipment .......         (29,355)         (24,359)
  Return on investment in limited
   liability ................................          24,725           94,695
                                                  -----------      -----------
company
      Net cash flows (used) by investing
       activities ...........................        (504,630)        (127,664)
                                                  -----------      -----------

Net increase (decrease) in cash and cash
 equivalents ................................       1,415,302         (243,774)

Cash and cash equivalents, beginning of year          333,450          510,055
                                                  -----------      -----------

Cash and cash equivalents, end of quarter ...     $ 1,748,752      $   266,281
                                                  ===========      ===========







  See notes to unaudited condensed consolidated financial statements

                                   5


<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 December  31, 1998,  and March 31, 1998,  and of the
     condensed consolidated  statements of operations and condensed consolidated
     statements  of cash flows for the nine months  ended  December 31, 1997 and
     1998.

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, 1998,  included in the Company's
     10-KSB filed with the Securities and Exchange Commission on June 30, 1998.

3.   During the third quarter of fiscal 1998, the Company adopted the provisions
     of Statement of  Financial  Accounting  Standards  No. 128,  "Earnings  Per
     Share" (FAS 128). FAS 128  established  new definitions for calculating and
     disclosing  basic and diluted  earnings per share.  In accordance  with FAS
     128,  all  prior   periods  have  been  restated  to  conform  to  the  new
     methodology.  The restated  amounts did not differ  materially from amounts
     previously  reported.  As the  Company  has no  dilutive  potential  common
     shares, no diluted earnings per share is presented.

4.   The Company is  currently  working to resolve the  potential  impact of the
     year 2000 on the processing of date-sensitive  information by the Company's
     computerized information systems. Based on preliminary  information,  costs
     of  addressing  potential  problems  are not  currently  expected to have a
     materially adverse impact on the Company's financial  position,  results of
     operations or cash flows in future periods.  However,  if the Company,  its
     customers  or vendors  are unable to resolve  such  processing  issued in a
     timely manner, it could result in a material  financial risk.  Accordingly,
     the  Company  plans to  devote  the  necessary  resources  to  resolve  all
     significant year 2000 issues in a timely manner.








                                   6



<PAGE>


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

Financial Condition, Liquidity and Capital Resources

Cash and cash equivalents increased for the nine months ended December 31, 1998,
$1,415,302.  For the same period the certificates of deposit increased $500,000.
At December 31, 1998,  the Company's  cash and cash  equivalents  earned between
three and 4.5 percent in investment money funds and money markets. The Company's
certificates of deposit earned between 5.3 and 6.35 percent.

Stockholders' equity increased from $696,200 to $2,631,991 or $1,935,791 for the
nine months ended December 31, 1998.

Results of Operations

For the Nine Months Ended  December 31, 1998,  Compared to the Nine Months Ended
December 31, 1997

For the nine months ended  December 31, 1998,  the  Company's  total revenue was
$2,142,292.  Aside from the income from the investment in the limited  liability
company of  $2,035,429,  the  Company's  interest  income and other income which
includes oil and gas revenue totaled $106,863 for the nine months ended December
31, 1998 as compared to $56,294 for the nine months ended December 31, 1997.

Total expenses for the nine month period ended December 31, 1998,  were $206,501
as compared to $167,625 for the period ended December 31, 1997.


<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:  February 9, 1999