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, 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 1420
                           Denver, Colorado   80202
                           ------------------------
                   (Address of principal executive offices)

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

                           1801 Broadway, Suite 700
                           Denver, Colorado   80202
                           ------------------------
   (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 CONSOLIDATED FINANCIAL STATEMENTS




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


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

          Unaudited Condensed Consolidated
          Statements of Operations - Three
          Months Ended December 31, 1996
          and 1997 and Nine Months Ended
          December 31, 1996 and 1997                      4

          Unaudited Condensed Consolidated
          Statement of Cash Flow - Nine Months
          Ended December 31, 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

                                    ASSETS

<TABLE>
<CAPTION>

                                             December 31,       March 31,
                                                 1997              1997
                                                 ----              ----
<S>                                              <C>              <C>
Current assets
 Cash and cash equivalents                   $  266,281         $510,055
 Certificates of deposit                        392,000          194,000
 Other receivables                                4,667            4,938
                                             ----------       ----------
   Total current assets                         662,948          708,993
                                             ----------       ----------

Office furniture, equipment and
 other, net of $227,196 of
 accumulated depreciation at
 December 31, 1997, and $222,096
 of accumulated depreciation at
 March 31, 1997.                                 52,637          33,378
Investment in limited liability
 company                                         24,725         119,420
Other                                            26,638          26,638
                                             ----------      ----------

Total assets                                 $  766,948      $  888,429
                                             ==========      ==========

                     LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities
 Accounts payable                            $    8,498      $   18,648
 Deposits, deferred revenue
  and other                                       9,318           9,318
                                             ----------      ----------
    Total current liabilities                    17,816          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                        (5,883,866)     (5,772,535)
                                             ----------      ----------
                                                749,132         860,463
                                             ----------      ----------

Total liabilities and
  stockholders' equity                       $  766,948      $  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 Nine   For the Nine
                      Months Ended    Months Ended  Months Ended   Months Ended
                      December 31,    December, 31,  December 31,  December 31,
                          1997            1996           1997           1996
                          ----            ----           ----           ----
<S>                       <C>               <C>           <C>            <C>
Revenue:
 Interest income     $   16,144     $    12,382     $   37,903     $   34,615
 Other income             6,230           7,913         18,391         22,598
                     ----------      ----------     ----------     ----------

     Total Revenue       22,374          20,295         56,294         57,213
                     ----------      ----------     ----------     ----------
(Income) Expenses:

(Income) loss from 
 investment in
 limited liability 
 company             $       -       $ (144,051)    $       -      $ (224,734)
Depreciation              1,700           2,555          5,100          7,665
Other operating
 expenses                52,849          45,893        162,525        158,054
                     ----------      ----------     ----------      ---------

  Total (Income)
   Expense               54,549        (95,603)        167,625        (59,015)
                     ----------     ----------      ----------      ---------

  Net Income (Loss)  $  (32,175)    $  115,898      $ (111,331)     $ 116,228
                     ==========     ==========      ==========      =========

Basic Net Income 
 (Loss) Per Share    $     (.01)    $      .04     $      (.04)     $     .04
                     ==========     ==========     ===========      =========

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

</TABLE>

      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 Nine     For the Nine
                                               Months Ended     Months Ended
                                                December 31,     December 31,
                                                   1997              1996
                                                   ----              ----
<S>                                               <C>                <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income (loss)                             $ (111,331)     $  116,228
                                               ----------      ----------
 Adjustments to reconcile net income
  (loss) to net cash (used)
  by operating activities:
   Depreciation                                     5,100           7,665
   Income from investment in
    limited liability company                          -         (224,734)
 Change in assets and liabilities:
  Decrease (increase) in accounts
   receivable                                         271          (1,247)
  (Decrease) in accounts payable                  (10,150)        (23,557)
                                                ----------      ----------

     Total adjustments                             (4,779)       (241,873)
                                                ----------      ----------

     NET CASH FLOWS (USED) BY
      OPERATING ACTIVITIES                       (116,110)       (125,645)

CASH FLOWS FROM INVESTING ACTIVITIES:
 Collection of note receivable                         -          500,000
 Purchase of certificates of deposit             (198,000)       (491,000)
 Purchase of furniture and equipment              (24,359)         (4,958)
 Return on investment in limited
  liability company                                94,695         320,538
                                                ----------     ----------

     NET CASH FLOWS PROVIDED (USED)
      BY INVESTING ACTIVITIES                    (127,664)        324,580

NET INCREASE (DECREASE) IN CASH AND
 CASH EQUIVALENTS                                (243,774)        198,935

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

CASH AND CASH EQUIVALENTS, END OF
 THE QUARTER                                   $  266,281      $  240,322
                                               ==========      ==========
</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  December  31,  1997,  and  March 31, 1997, and of the
condensed  consolidated  statements  of  operations and condensed consolidated
statements of cash flows for the nine months ended December 31, 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  nine  months  ended  December  31,  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.

3.          During  the  third quarter of fiscal 1998, the Company adopted the
provisions of Statement of Financial Accounting Standard No. 28, "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.

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

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

     Cash  and  cash  equivalents decreased for the nine months ended December
31, 1997, $243,774.  For the same period the certificates of deposit increased
$198,000.

     Stockholders'  equity decreased from $860,462 to $749,131 or $111,331 for
the  nine  months  ended  December  31,  1997.

     Subsequent to the nine months period ended December 31, 1997, the Company
settled  its  lawsuit,  and  the  apartment project is in the process of being
sold.

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

For the nine months ended December 31, 1997, compared to the nine months ended
------------------------------------------------------------------------------
December  31,  1996.
-------------------

     For  the nine months ended December 31, 1997, the Company's total revenue
was  $56,294  as  compared  to  $57,213 for the nine months ended December 31,
1996.

     Total  expenses  for  the nine month period ended December 31, 1997, were
$167,625  as  compared  to  (net  of  income from the investment in the LLC of
$224,734)  ($59,015)  for  the  period  ended  December  31,  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:          February  9,  1998