UNITED STATES OF AMERICA
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 10-Q

[X]  QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF  THE SECURITIES
     EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2004.

                                       or

[_]  TRANSITION  REPORT  PURSUANT  TO  SECTION  13  OR  15(d)  OF THE SECURITIES
     EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______.


                      Commission file number: 333-29001-01


                          ENERGY CORPORATION OF AMERICA
             (Exact name of registrant as specified in its charter)


                            WEST VIRGINIA  84-1235822
         (State or other jurisdiction of incorporation or organization)
                        (IRS Employer Identification No.)

                      4643 SOUTH ULSTER STREET, SUITE 1100
                             DENVER, COLORADO 80237
              (Address of principal executive offices and zip code)

                                 (303) 694-2667
              (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities 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 [_]

     Indicate by check mark whether the registrant is an accelerated filer (as
                       defined in Rule 12b-2 of the Act).
                                  Yes[_] No [X]


    The number of shares of the Registrant's common stock, par value $1.00 per
           share, outstanding at November 8, 2004 was 602,082 shares.


<PAGE>
<TABLE>
<CAPTION>
                          ENERGY CORPORATION OF AMERICA

                                TABLE OF CONTENTS

                                                                                   PAGES
PART I  FINANCIAL INFORMATION
<S>                                                                                <C>
Item 1. Financial Statements

        Unaudited Consolidated Balance Sheets
           September 30, 2004 and June 30, 2004 . . . . . . . . . . . . . . . . .      3

        Unaudited Consolidated Statements of Operations
           For the three months ended September 30, 2004 and 2003 . . . . . . . .      5

        Unaudited Consolidated Statements of Cash Flows
           For the three months ended September 30, 2004 and 2003 . . . . . . . .      6

        Unaudited Consolidated Statements of Comprehensive Income
           For the three months ended September 30, 2004 and 2003 . . . . . . . .      7

        Notes to Unaudited Consolidated Financial Statements. . . . . . . . . . .      8

        Item 2. Management's Discussion and Analysis of Results of Operations and
           Financial Condition. . . . . . . . . . . . . . . . . . . . . . . . . .     11

        Item 3. Quantitative and Qualitative Disclosures About Market Risk. . . .     17

        Item 4. Controls and Procedures . . . . . . . . . . . . . . . . . . . . .     18


PART II  OTHER INFORMATION

        Item 1. Legal Proceedings . . . . . . . . . . . . . . . . . . . . . . . .     18

        Item 2. Changes in Securities . . . . . . . . . . . . . . . . . . . . . .     19

        Item 3. Defaults Upon Senior Securities . . . . . . . . . . . . . . . . .     19

        Item 4. Submission of Matters to a Vote of Security Holders . . . . . . .     19

        Item 5. Other Information . . . . . . . . . . . . . . . . . . . . . . . .     19

        Item 6. Exhibits and Reports on Form 8-K. . . . . . . . . . . . . . . . .     19

        Signatures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .     20
</TABLE>


                                      - 2 -
<PAGE>
<TABLE>
<CAPTION>
PART I FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS

ENERGY CORPORATION OF AMERICA
CONSOLIDATED BALANCE SHEETS
(UNAUDITED - AMOUNTS IN THOUSANDS)
------------------------------------------------------------------------------------

                                                          SEPTEMBER 30,    JUNE 30,
                                                              2004           2004
                                                         ---------------  ----------
<S>                                                      <C>              <C>
ASSETS

CURRENT ASSETS:
    Cash and cash equivalents                            $        3,734   $   5,821
  Accounts receivable:
    Oil and gas sales                                             8,431       8,632
    Gas aggregation and pipeline                                  8,672       9,079
    Other                                                         3,827       4,000
                                                         ---------------  ----------
      Accounts receivable                                        20,930      21,711
    Less allowance for doubtful accounts                         (1,022)     (1,022)
                                                         ---------------  ----------
      Accounts receivable, net of allowance                      19,908      20,689

    Deferred income tax asset                                     1,227       2,087
    Deferred taxes - other comprehensive loss                     3,559       2,889
    Notes receivable, related party                                  49          59
    Prepaid and other current assets                              3,561       4,141
                                                         ---------------  ----------
      Total current assets                                       32,038      35,686

  Property, plant and equipment, net of accumulated
    depreciation and depletion of $147,148 and $143,846         248,093     246,391

OTHER ASSETS:
    Deferred financing costs, net of accumulated
      amortization of $7,263 and $6,833                           2,298       2,015
    Notes receivable, related party                                 113         113
    Other                                                         7,028       6,007
                                                         ---------------  ----------
      Total other assets                                          9,439       8,135
                                                         ---------------  ----------

TOTAL                                                    $      289,570   $ 290,212
                                                         ===============  ==========
<FN>
The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                      - 3 -
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATED BALANCE SHEETS
(UNAUDITED - AMOUNTS IN THOUSANDS EXCEPT SHARE DATA)
-----------------------------------------------------------------------------------

                                                         SEPTEMBER 30,    JUNE 30,
                                                             2004           2004
                                                        ---------------  ----------
<S>                                                     <C>              <C>
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
  Accounts payable and accrued expenses                 $       13,959   $  14,823
  Current portion of long-term debt                              1,148       1,145
  Funds held for future distribution                            16,039      16,701
  Income taxes payable                                               -         128
  Accrued taxes, other than income                               9,157       9,289
  Derivatives                                                    8,710       7,303
  Other current liabilities                                      3,602       3,562
                                                        ---------------  ----------
    Total current liabilities                                   52,615      52,951

LONG-TERM OBLIGATIONS:
  Long-term debt                                               163,745     162,894
  Deferred trust revenue                                         2,418       2,511
  Deferred income tax liability                                 18,465      19,552
  Derivatives                                                      265           -
  Other long-term obligations                                    8,186       8,447
                                                        ---------------  ----------
    Total liabilities                                          245,694     246,355

Minority Interest                                                1,436       1,495
COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY:
  Common stock, par value $1.00; 2,000,000 shares
    authorized; 730,039 shares issued                              730         730
  Class A non-voting common stock, no par value;
  100,000 shares authorized; 68,438 shares issued                8,262       8,027
  Additional paid-in capital                                     5,503       5,503
  Retained earnings                                             48,932      48,200
  Treasury stock and notes receivable arising from the
    issuance of common stock                                   (15,267)    (14,954)
  Deferred compensation on restricted stock                     (1,782)     (1,887)
  Accumulated other comprehensive loss                          (3,938)     (3,257)
                                                        ---------------  ----------
   Total stockholders' equity                                   42,440      42,362
                                                        ---------------  ----------

TOTAL                                                   $      289,570   $ 290,212
                                                        ===============  ==========
<FN>
The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                      - 4 -
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED - AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
------------------------------------------------------------------------------------

                                                               THREE MONTHS ENDED
                                                                  SEPTEMBER 30,
                                                            ------------------------
                                                               2004         2003
                                                            ----------  ------------
<S>                                                         <C>         <C>
REVENUES:
  Oil and gas sales                                         $  13,341   $    14,141
  Gas aggregation and pipeline sales                           16,049        15,509
  Well operations and service revenues                          1,345         1,391
  Other                                                           467             -
                                                            ----------  ------------
    Total revenues                                             31,202        31,041
                                                            ----------  ------------
COST AND EXPENSES:
  Field operating expenses                                      2,821         2,717
  Gas aggregation and pipeline cost of sales                   14,602        14,246
  General and administrative                                    3,631         3,732
  Taxes, other than income                                        932           938
  Depletion and depreciation of oil and gas properties          2,835         3,478
  Depreciation of pipelines, other property and equipment       1,032         1,026
  Exploration and impairment                                    1,954           997
  Gain on sale of assets                                         (813)           (5)
                                                            ----------  ------------
    Total costs and expenses                                   26,994        27,129
                                                            ----------  ------------
  Income from operations                                        4,208         3,912
OTHER (INCOME) EXPENSE:
  Interest expense                                              3,217         3,807
  Interest income and other                                       278          (805)
                                                            ----------  ------------
Income before income taxes and minority interest                  713           910
Income tax expense (benefit)                                     (268)          387
                                                            ----------  ------------
Income before minority interest                                   981           523
Minority interest                                                  58            64
                                                            ----------  ------------
NET INCOME                                                  $   1,039   $       587
                                                            ==========  ============

Basic and diluted earnings per common share:

  Basic earnings per common share                           $    1.65   $      0.91
                                                            ==========  ============
  Diluted earnings per common share (see Note 4)            $    1.62   $      0.89
                                                            ==========  ============
<FN>
The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                      - 5 -
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED - AMOUNTS IN THOUSANDS)
--------------------------------------------------------------------------------------------

                                                                       THREE MONTHS ENDED
                                                                          SEPTEMBER 30,
                                                                    ------------------------
                                                                       2004         2003
                                                                    ----------  ------------
<S>                                                                 <C>         <C>
CASH FLOWS FROM OPERATING ACTIVITIES
  Net Income                                                        $   1,039   $       587
  Adjustments to reconcile net income to
    net cash provided (used) by operating activities:
  Depletion, depreciation and amortization                              3,867         4,504
  Gain on sale of assets                                                 (813)           (5)
  (Gain) loss on redemption of senior bonds                               249          (546)
  Deferred income taxes                                                  (268)            -
  Exploration and impairment                                            1,931           871
  Other, net                                                              152           434
                                                                    ----------  ------------
                                                                        6,157         5,845

  Changes in assets and liabilities:
  Accounts receivable                                                     781            27
  Income taxes payable                                                   (128)          387
  Prepaid and other assets                                             (1,934)         (795)
  Accounts payable and accrued expenses                                (1,202)          226
  Funds held for future distribution                                     (662)       (1,619)
  Other                                                                (2,018)         (407)
                                                                    ----------  ------------
  Net cash provided by operating activities                               994         3,664

CASH FLOWS FROM INVESTING ACTIVITIES
  Expenditures for property, plant and equipment                       (6,851)       (4,036)
  Proceeds from sale of assets                                          3,536             5
  Notes receivable and other                                               10            13
                                                                    ----------  ------------
  Net cash used by investing activities from operations                (3,305)       (4,018)

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from long-term debt                                         72,298        10,279
  Principal payments on long-term debt                                (71,443)      (11,465)
  Purchase of treasury stock and other financing activities              (323)         (358)
  Dividends paid                                                         (308)         (297)
                                                                    ----------  ------------
  Net cash provided (used) by financing activities from operations        224        (1,841)
                                                                    ----------  ------------
  Net decrease in cash and cash equivalents                            (2,087)       (2,195)
  Cash and cash equivalents, beginning of period                        5,821         4,831
                                                                    ----------  ------------
  Cash and cash equivalents, end of period                          $   3,734   $     2,636
                                                                    ==========  ============
<FN>
The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                      - 6 -
<PAGE>
<TABLE>
<CAPTION>
ENERGY CORPORATION OF AMERICA
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED - AMOUNTS IN THOUSANDS)
-------------------------------------------------------------------------

                                                    THREE MONTHS ENDED
                                                      SEPTEMBER 30,
                                                 ------------------------
                                                    2004         2003
                                                 -----------  -----------
<S>                                              <C>          <C>
Net income                                       $    1,039   $      587
Other comprehensive income (loss), net of tax:
  Foreign currency translation adjustment:
    Current period change                               334          143
  Oil and gas derivatives:
    Current period transactions                      (1,907)         809
    Reclassification to earnings                        892          (52)
                                                 -----------  -----------
  Other comprehensive income (loss), net of tax        (681)         900
                                                 -----------  -----------
  Comprehensive income                           $      358   $    1,487
                                                 ===========  ===========
<FN>
The accompanying notes are an integral part of the consolidated financial statements.
</TABLE>


                                      - 7 -
<PAGE>
                          ENERGY CORPORATION OF AMERICA
              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2004


1.   Nature  of  Organization

     Energy  Corporation  of  America (the "Company") is a privately held energy
     company  engaged in the exploration, development, production, gathering and
     aggregation  of natural gas and oil, primarily in the Appalachian Basin and
     Gulf  Coast  regions  in  the United States and in New Zealand. The Company
     conducts business primarily through its principal wholly owned subsidiaries
     and  is  one of the largest oil and gas operators in the Appalachian Basin.
     As  used  herein the "Company" refers to the Company alone or together with
     one  or  more  of  its  subsidiaries.

2.   Accounting  Policies

     Reference  is  hereby  made to the Company's Annual Report on Form 10-K for
     the  fiscal  year  ended  June  30, 2004, which contains a summary of major
     accounting  policies  followed in preparation of its consolidated financial
     statements.  These  policies  were also followed in preparing the quarterly
     report  included  herein.

     Management of the Company believes that all adjustments, consisting of only
     normal recurring accruals, necessary for a fair presentation of the results
     of  such  interim periods have been made. The results of operations for the
     period  ended  September  30,  2004  are  not necessarily indicative of the
     results  to  be  expected  for  the  full  year.

     Certain  amounts  in  the  financial  statements of prior periods have been
     reclassified  to  conform  to  the  current  period  presentation.

3.   Note  Repurchases

     The Company purchased $34.0 million of its 9 1/2% Senior Subordinated Notes
     ("Notes")  during the quarter ended September 30, 2004 pursuant to an Asset
     Sale  Offer  as  defined  in  the  Indenture  for  the  Notes.

     The  Company  purchased $2.04 million of its Notes during the quarter ended
     September  30,  2003  in  privately  negotiated  transactions.


                                      - 8 -
<PAGE>
4.   Earnings  per  Share

     In  accordance  with SFAS No. 128, "Earnings Per Share," basic earnings per
     share has been computed based upon the weighted average shares outstanding.
     Diluted  earnings  per  share  gives  effect  to outstanding stock options.

     A  reconciliation  of  the  components  of basic and diluted net income per
     common  share  is  as  follows  for  the  net  income  available  to common
     stockholders:

<TABLE>
<CAPTION>
                                         NET INCOME
                                       (IN THOUSANDS)   SHARES   PER SHARE
                                       ---------------  -------  ----------
<S>                                    <C>              <C>      <C>
Three months ended September 30, 2004
  Basic                                $         1,039  630,655  $     1.65
  Diluted                              $         1,039  640,165  $     1.62
Three months ended September 30, 2003
  Basic                                $           587  645,909  $     0.91
  Diluted                              $           587  660,175  $     0.89
</TABLE>

5.   Industry  Segments

     The  Company's  reportable  business segments have been identified based on
     the  differences  in  products  and  service  provided.  Revenues  for  the
     exploration and production segment are derived from the production and sale
     of natural gas and crude oil. Revenues for the gas aggregation and pipeline
     segment  arise  from the marketing of both Company and third party produced
     natural  gas  volumes  and  the related transportation. Management utilizes
     earnings  before interest, taxes, depreciation, depletion, amortization and
     exploration  and impairment costs ("EBITDAX") to evaluate the operations of
     each  segment.  Reconciliation  of  the  non-GAAP  financial  measure is as
     follows  (in  thousands):

<TABLE>
<CAPTION>
                                                                   Three Months Ended
                                                             September 30,   September 30,
                                                                 2004             2003
                                                            ---------------  --------------
<S>                                                         <C>              <C>
  Net income                                                $        1,039   $          587

Add:
  Interest expense                                                   3,217            3,807
  Depletion and depreciation of oil and gas properties               2,835            3,478
  Depreciation of pipelines, other property and equipment            1,032            1,026
  Exploration and impairment                                         1,954              997
  Income tax expense (benefit)                                        (268)             387

                                                            ---------------  --------------
EBITDAX                                                     $        9,809   $       10,282
                                                            ===============  ==============
</TABLE>


                                      - 9 -
<PAGE>
     Summarized  financial information for the Company's reportable segments for
operations  is  as  follows  (in  thousands):

<TABLE>
<CAPTION>
                                          Exploration &    Gas Aggregation
                                            Production       & Pipeline       Other    Consolidated
                                          --------------  -----------------  --------  -------------
<S>                                       <C>             <C>                <C>       <C>
For the quarter ended September 30, 2004
----------------------------------------
  Revenue from unaffiliated customers     $       14,686  $         16,049   $   467   $      31,202
  Depreciation, depletion, amortization            3,239               154       474           3,867
  Exploration and impairment costs                 1,954                 -         -           1,954
  Income (loss) from operations                    3,952               632      (376)          4,208
  Interest expense, net                            5,457            (2,033)     (241)          3,183
  EBITDAX                                          9,362               828      (381)          9,809
  Total assets                                   175,412            99,617    14,541         289,570
  Capital expenditures                             6,344               102       405           6,851

----------------------------------------------------------------------------------------------------

For the quarter ended September 30, 2003
----------------------------------------
  Revenue from unaffiliated customers     $       15,532  $         15,509   $     -   $      31,041
  Depreciation, depletion, amortization            3,808               160       536           4,504
  Exploration and impairment costs                   981                16         -             997
  Income (loss) from operations                    3,481               616      (185)          3,912
  Interest expense, net                            5,698            (1,780)     (191)          3,727
  EBITDAX                                          9,426               753       103          10,282
  Total assets                                   188,371            89,111    15,455         292,937
  Capital expenditures                             3,937                 3        96           4,036
</TABLE>

     Income  (loss)  from  operations  represents  revenues less costs which are
     directly associated with such operations. Revenues are priced and accounted
     for  consistently for both unaffiliated and intersegment sales. The 'Other'
     column  includes  items  related  to  non-reportable  segments,  including
     drilling rig, corporate and elimination items. Included in the total assets
     of the exploration and production segment are net long-lived assets located
     in  New  Zealand  of $7.5 million and $6.2 million as of September 30, 2004
     and 2003 with no revenues recorded for the quarter ended September 30, 2004
     and  $0.2  million  recorded  for  the  quarter  ended  September 30, 2003.


6.   Derivative  Instruments

     The  Company  periodically  hedges  a portion of its gas production through
     futures  and  swap  agreements.  The  purpose of the hedges is to provide a
     measure  of stability in the volatile environment of oil and gas prices and
     to  manage  its  exposure  to  commodity  price  risk  under existing sales
     commitments.  All  of  the  Company's  price  swap  agreements in place are
     designated  as  cash  flow  hedges.  At September 30, 2004, the Company had
     recorded  a  $5.4 million other comprehensive loss, $3.6 million short-term
     deferred  tax asset, $8.7 million short-term derivative liability, and $0.3
     million  long-term  derivative  liability.  The estimated net amount of the
     existing  losses  within other comprehensive income that are expected to be
     reclassified  into  earnings


                                     - 10 -
<PAGE>
     within  the  next  twelve months is approximately $5.2 million. The Company
     has  partially  hedged its exposure to the variability in future cash flows
     through  March  2006.

     In  August 2004, the Company entered into four interest rate cap agreements
     with  Foothill, in an effort to reduce the potential impact of increases in
     interest  rates  on floating-rate long-term debt. The agreements range from
     two  to  three years covering $40,000,000 in long-term debt and cap the one
     month  London  Interbank  Offered  Rate  ("Libor")  at  3.5%.

7.   Commitments and Contingencies

     In  addition to the matters discussed in Legal Proceedings at Part II, Item
     1,  the  Company  is  involved  in  various  other legal actions and claims
     arising  in  the  ordinary  course  of  business.  While the outcome of the
     lawsuits against the Company cannot be predicted with certainty, management
     does  not  expect  these  matters  to have a material adverse effect on the
     Company's  operations  or  financial  position.

     Pursuant  to  an Agreement dated December 28, 1998, the Company is required
     to purchase all shares owned by Kenneth W. Brill upon notice by Mr. Brill's
     estate or promptly after the passage of two years from Mr. Brill's death if
     the  estate  does  not sooner tender the shares. The Company entered into a
     repurchase  agreement  on January 21, 2004 with the KWB Trust to define the
     purchase  price  and  establish  the conditions for the repurchase of stock
     owned  by  the  Kenneth  W.  Brill,  estate.  The  agreement  outlines  the
     repurchase  of  49,110  shares  of  stock  by  the Company or through third
     parties,  at  an  anticipated  value of approximately $3.7 million over the
     next five years, and provides for payments in twenty quarterly installments
     on  the  majority of the shares to be repurchased. The repurchase of shares
     is  subject  to certain restrictions in the Company's credit agreements. On
     September 30, 2004, the Company's remaining repurchase obligation under the
     Agreement  is  approximately  $2.7  million  of  which  $1.4  million  was
     classified  as  a  liability  and the remaining $1.3 million is included in
     stockholders'  equity as third parties have agreed to purchase such amount.



    ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
    -------------------------------------------------------------------------
                              FINANCIAL CONDITION
                              -------------------

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
--------------------------------------------------------------------------------

     This  discussion  and  analysis  of  financial  condition  and  results  of
operations,  and  other  sections  of  this  Form  10-Q, contain forward-looking
statements  that  are  based  on  management's  beliefs,  assumptions,  current
expectations,  estimates,  intentions  and  projections  about  the  oil and gas
industry,  the  economy  and  about  the  Company  itself.  Words  such  as
"anticipates,"  "believes,"  "estimates," "expects," "forecasts," "intends," "is
likely,"  "plans,"  "predicts," "projects," variations of such words and similar
expressions  are  intended to identify such forward-looking statements under the
Private  Securities  Litigation  Reform  Act of 1995.  The Company cautions that
these  statements  are  not guarantees of future performance and involve certain
risks,  uncertainties  and assumptions that are difficult to predict with regard
to  timing,  extent,  likelihood  and  degree  of occurrence.  Therefore, actual
results  and  outcomes  may  materially  differ  from  what  may be expressed or
forecasted  in  such  forward-looking  statements.  Furthermore,  the


                                     - 11 -
<PAGE>
Company  undertakes  no  obligation  to update, amend or clarify forward-looking
statements,  whether as a result of new information, future events or otherwise.

     Important factors that could cause actual results to differ materially from
the  forward-looking  statements  include,  but  are  not  limited  to,  weather
conditions, changes in production volumes, worldwide demand and commodity prices
for  petroleum natural resources, the timing and extent of the Company's success
in  discovering,  acquiring,  developing  and  producing  oil  and  natural  gas
reserves,  risks  incident  to the drilling and operation of oil and natural gas
wells, future production and development costs, foreign currency exchange rates,
the  effect  of  existing  and  future  laws,  governmental  regulations and the
political  and economic climate of the United States and New Zealand, the effect
of hedging activities, and conditions in the capital markets.

     The  following  should  be read in conjunction with the Company's Financial
Statements and Notes (including the segment information) at Part I, Item 1.


COMPARISON  OF  RESULTS  OF  OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30,
--------------------------------------------------------------------------------
                                  2004 AND 2003
                                  -------------

     The  Company  recorded  net  income  of  $1.0 million for the quarter ended
September  30, 2004 compared to net income of $0.6 million for the quarter ended
September  30,  2003.  The  increase  in net income of $0.4 million is primarily
attributable  to  the net of a $0.2 million increase in revenues, a $0.1 million
decrease  in  costs and expenses, a $0.6 million decrease in interest expense, a
$1.1  million decrease in interest income and other, and a $0.7 million decrease
in  income  tax  expense.


                                     - 12 -
<PAGE>
     Production, gas aggregation and pipeline volumes, revenue and average sales
prices  for  the  quarters ended September 30 and their related variances are as
follows:

<TABLE>
<CAPTION>
                                                        THREE MONTHS ENDED
                                                           SEPTEMBER 30            VARIANCE
                                                      ----------------------  -----------------
                                                         2004        2003     AMOUNT   PERCENT
                                                      ----------  ----------  -------  --------
<S>                                                   <C>         <C>         <C>      <C>
Natural Gas
  Production (Mmcf)                                       2,422       2,768     (346)    -12.5%
  Average sales price received ($/Mcf)                     6.02        5.01     1.01      20.2%
                                                      ----------  ----------  -------  --------
  Sales ($ in thousands)                                 14,587      13,873      714       5.1%
Oil
  Production (Mbbl)                                          15          33      (18)    -54.5%
  Average sales price received ($/Bbl)                    40.53       27.79    12.74      45.8%
                                                      ----------  ----------  -------  --------
  Sales ($ in thousands)                                    608         917     (309)    -33.7%
Hedging                                                  (1,935)       (745)  (1,190)   -159.7%
Other                                                        81          96      (15)    -15.6%
                                                      ----------  ----------  -------  --------
Total oil and gas sales ($ in thousands)                 13,341      14,141     (800)     -5.7%
                                                      ==========  ==========  =======  ========
Aggregation Revenue
  Volume (Million Mmbtu)                                  1,937       2,347     (410)    -17.5%
  Average sales price received ($/Mmbtu)                   5.85        4.98     0.87      17.5%
                                                      ----------  ----------  -------  --------
  Sales ($ in thousands)                                 11,336      11,678     (342)     -2.9%
Pipeline Revenue
  Volume (Million Mmbtu)                                  1,400       1,411      (11)     -0.8%
  Average sales price received ($/Mmbtu)                   3.37        2.72     0.65      23.9%
                                                      ----------  ----------  -------  --------
  Sales ($ in thousands)                                  4,713       3,831      882      23.0%
                                                      ----------  ----------  -------  --------
Total aggregation and pipeline sales ($ in thousands)    16,049      15,509      540       3.5%
                                                      ==========  ==========  =======  ========
Aggregation Gas Cost
  Volume (Million Mmbtu)                                  1,937       2,347     (410)    -17.5%
  Average price paid ($/Mmbtu)                             5.58        4.78     0.80      16.7%
                                                      ----------  ----------  -------  --------
  Cost ($ in thousands)                                  10,808      11,218     (410)     -3.7%
Pipeline Gas Cost
  Volume (Million Mmbtu)                                  1,146       1,115       31       2.8%
  Average price paid ($/Mmbtu)                             3.31        2.72     0.59      21.7%
                                                      ----------  ----------  -------  --------
  Cost ($ in thousands)                                   3,794       3,028      766      25.3%
                                                      ----------  ----------  -------  --------
Total aggregation and pipeline cost ($ in thousands)     14,602      14,246      356       2.5%
                                                      ==========  ==========  =======  ========
</TABLE>

     REVENUES.  Total  revenues  increased $0.2 million between the periods. The
     --------
increase  was  due  to  a  $0.5 million increase in gas aggregation and pipeline
sales,  and  a  $0.5 million increase in other revenues. Offsetting the increase
was  a  $0.8  million  decline in oil and gas sales. Well operations and service
revenues  remained  relatively  constant.


                                     - 13 -
<PAGE>
     Revenues  from oil and gas sales decreased a net of $0.8 million from $14.1
million  for  the  quarter  ended  September  30,  2003 to $13.3 million for the
quarter  ended September 30, 2004.  Natural gas sales increased $0.7 million and
oil  sales  decreased  $0.3  million.  The  net increase in natural gas sales is
attributable  to  the  increase  in  gas  prices,  offset  by  a decrease in gas
production.  The  price  increase is a result of the rise in the related natural
gas  indexes  and  the  decrease in production is primarily due to wells sold in
California.  Gas  sales  were  reduced  by  recognized losses on related hedging
transactions  and  other  revenue,  which totaled a loss of $1.9 million for the
quarter  ended  September  30,  2004  compared to a loss of $0.6 million for the
quarter  ended  September  30,  2003.

     Revenues  from  gas  aggregation  and pipeline sales increased $0.5 million
from  $15.5  million during the period ended September 30, 2003 to $16.0 million
in the period ended September 30, 2004.  Gas aggregation revenue decreased  $0.3
million  primarily as a result of a decrease in gas volumes aggregated for sale.
Offsetting  this  decrease  in volume was an increase in the average sales price
that  corresponds  to the rise in the related natural gas price indexes for this
period  compared to the prior period.    Pipeline revenue, which has a sales and
gathering component, increased $0.9 million primarily as a result of an increase
in  the  average sales price that corresponds to the rise in the related natural
gas  price  indexes  for  this  period  compared  to the prior period and due to
revenue, during the quarter ended September 30, 2004, related to the acquisition
of  a  100-mile  long  natural gas gathering system located in northeastern West
Virginia.  Pipeline  volumes declined compared to the prior period primarily due
to  natural  production  declines  on  the  system.

     Other revenues increased $0.5 million between periods. This increase is the
result  of  receiving  a  partnership distribution from a limited partnership in
which  the  Company  owns  an  interest.

     COSTS AND EXPENSES. The Company's costs and expenses decreased $0.1 million
     ------------------
between  the  periods  primarily  as  a net result of a $0.1 million increase in
field  and  lease  operating expense, a $0.4 million increase in gas aggregation
and  pipeline  costs,  a  $0.1  million  decrease  in general and administrative
expenses,  $0.6  million  decrease  in depreciation, depletion, and amortization
costs  for  oil  and  gas properties, a $1.0 million increase in exploration and
impairment costs, and a $0.8 million increase in gain on sale of property.

     Gas  aggregation and pipeline costs increased $0.4 million. Gas aggregation
costs  declined  $0.4  million  and  pipeline  costs increased $0.8 million. The
increase  in costs is primarily attributable to the increase in average price of
gas  that corresponds to the rise in the related natural gas indexes offset by a
decrease in volume for this period compared to the prior period.

     Depletion,  depreciation,  and  amortization  expenses  for  oil  and  gas
properties  decreased $0.6 million primarily due to a decrease in production and
a  decrease  in  the  average  depletion  rate.

     Exploration  and  impairment  costs increased $1.0 million primarily due to
costs  related  to  an  unsuccessful exploratory well drilled during the current
year and impairment related to the abandonment of a producing well.

     Gain  on sale of assets increased $0.8 million primarily as a result of the
gain  recognized from the sale of undeveloped acreage in Pennsylvania during the
current  period.

     INTEREST  EXPENSE.  Interest  expense decreased $0.6 million when comparing
     ------------------
the  periods  primarily due to the purchase of a portion of the Company's senior
notes and a decrease in the average interest rate paid on outstanding debt.


                                     - 14 -
<PAGE>
     INTEREST  INCOME  AND  OTHER.  Other  income  decreased  $1.1  million when
     ----------------------------
comparing  the periods. This decrease is primarily attributable to a decrease in
recognized  gains  on  the  purchase  of  senior  bonds.

     INCOME  TAX.  Income tax expense decreased by $0.7 million to an income tax
     -----------
benefit  of  $0.3  million  as  compared  to an income tax expense for the prior
period  of  $0.4 million. The decrease is primarily due to the adjustment of the
tax  contingency  balance of $0.6 million for items that are closed or no longer
applicable  and  the  decrease  in  income  before income taxes of $0.2 million.

LIQUIDITY  AND  CAPITAL  RESOURCES
----------------------------------

     The  Company's  financial  condition  and  liquidity have remained constant
since  June 30, 2004. Stockholders' equity remained relatively constant at $42.4
million  at  June  30,  2004 and September 30, 2004. However, the Company's cash
decreased  from  $5.8  million at June 30, 2004 to $3.7 million at September 30,
2004.  The  Company's  cash  at November 8, 2004 was $0.3 million. The change in
cash  during  the  quarter  of  approximately $2.1 million resulted from various
operating,  investing  and  financing  activities of the Company. The activities
were  primarily  comprised  of: the borrowing of $50 million under the Company's
$50  million  term  loan  of  the  Amended  and  Restated  Credit Agreement (the
"Restated Credit Agreement"); the reduction of approximately $15.1 million under
the  Company's  $50  million  revolving  credit  facility of the Restated Credit
Agreement;  payments  of  $34  million  for  the  purchase  of  a portion of the
Company's  outstanding  Notes;  the  investment of approximately $6.9 million in
property, plant and equipment; proceeds from the sale of assets of approximately
$3.5  million;  payments  of  approximately  $0.6 million for the acquisition of
treasury stock and dividends; and approximately $1.0 million of cash provided by
operations  during  the  quarter.

     As  previously  reported,  on July 10, 2002, the Company entered into a $50
million  revolving Credit Agreement with Foothill Capital Corporation, now Wells
Fargo  Foothill, Inc. ("Foothill"). The Company and Foothill have entered into a
Restated  Credit  Agreement  dated  June 10, 2004. The Restated Credit Agreement
provides  for  the  $50 million revolving credit facility to be extended and for
the  Company  to  be  provided  with  additional  credit in the form of a single
advance  term  loan  in  the  amount  of  $50  million.  The  term loan contains
requirements  for  principal  payments of $1 million each at July 10, 2005, 2006
and  2007,  with  the  remaining  balance due on July 10, 2008. Depending on the
Company's level of borrowing under the Restated Credit Agreement, the applicable
interest  rates  for  base rate loans are based on Wells Fargo's prime rate plus
0.25%  to 0.75%. The Company has the ability under the Restated Credit Agreement
to  designate certain loans as Libor Rate Loans at interest rates based upon the
rate at which dollar deposits are offered to major banks in the London interbank
market  plus  2.25%  to 2.75%. The Restated Credit Agreement expires on July 10,
2008.

     The  obligations under the Restated Credit Agreement are secured by certain
of the existing proved producing oil and gas assets of the Company. The Restated
Credit  Agreement,  among other things, restricts the ability of the Company and
its  subsidiaries  to incur new debt, grant additional security interests in its
collateral, engage in certain merger or reorganization activities, or dispose of
certain  assets.

     At  September  30,  2004,  the  Company's  principal  source  of  liquidity
consisted  of  $3.7  million  of cash, $0.8 million available under an unsecured
credit  facility  currently  in  place,  plus  $29.0 million available under the
revolving  loan  of  the  Restated Credit Agreement. At September 30, 2004, $1.0
million was outstanding and $1.2 million was committed through letters of credit
under  the  short-term  credit  facility,  $21.0  million was outstanding on the
revolving  loan  and  $50  million  was  outstanding  on the term loan under the
Restated  Credit  Agreement.


                                     - 15 -
<PAGE>
     As  previously  reported,  the  Company had been in litigation with certain
Holders  (the  "Noteholders") of its Notes. The dispute involved the calculation
of  "Net  Proceeds" of an "Asset Sale" as defined in the Indenture. A Settlement
Agreement  dated  February  24,  2004,  was  negotiated  with the Noteholders to
resolve  the  dispute.  In  settlement  of  the  dispute  the  Company agreed to
repurchase  $38  million  in  Notes.  The repurchase was effected by the Company
making Asset Sale Offers (as defined in the Indenture) totaling $38 million. The
Company  made  an initial Asset Sale Offer of $4 million, which was completed on
March  25, 2004. The Company consummated another Asset Sale Offer of $34 million
which  was  completed on July 29, 2004. The United States District Court for the
Southern  District of West Virginia has entered a Dismissal Order dismissing the
litigation  with  prejudice.  Upon  the  Company  meeting  all  of the terms and
conditions of the Settlement Agreement it funded the $50 million term loan under
the  Restated  Credit  Agreement.

     As  of  November  8,  2004, there are $50 million in outstanding borrowings
under  the  term  loan  and  $26.6  million  in outstanding borrowings under the
revolving  loan.  Additional  borrowings  must  comply  with  the  terms  of the
Indenture  and  the  Restated  Credit  Agreement.

     The  Company's net cash requirements will fluctuate based on timing and the
extent  of  the interplay of capital expenditures, cash generated by operations,
cash  generated  by  the  sale  of  assets and interest expense. EBITDAX, before
inclusion  of  the  gain on the purchase of the Company's Notes, for fiscal year
2004  was  $42.4  million. EBITDAX for fiscal years 2003 and 2002, measured on a
similar  basis,  was  $36.9  million and $19.7 million, respectively. Management
anticipates  that  EBITDAX from oil and gas operations for fiscal year 2005 will
approximate $44 million. The Company's ability to achieve EBITDAX of $44 million
from  oil and gas operations for fiscal year 2005 is highly dependant on product
price  and  continued drilling success. There can be no assurance given that the
Company  will  be  able  to achieve these goals. EBITDAX is a non-GAAP financial
measure  that  the  Company believes is useful in evaluating is debt service and
capital  expenditure  capacity.  A  reconciliation  of  EBITDAX to net income is
presented  in  Note  5  to  the  accompanying  financial  statements. Management
believes  that  cash  generated  from  oil and gas operations, together with the
liquidity  provided  by existing cash balances and permitted borrowings, will be
sufficient  to  satisfy  commitments  for capital expenditures of $29.8 million,
debt  service obligations, working capital needs and other cash requirements for
fiscal  year  2005.

     In order to reduce future cash interest payments, as well as future amounts
due at maturity or upon redemption, the Company may, from time to time, purchase
its  outstanding  Notes  in  open  market  purchases and/or privately negotiated
transactions.  The  Company will evaluate any such transactions in light of then
existing  market  conditions, taking into account its liquidity, uses of capital
and  prospects  for  future  access to capital. The amounts involved in any such
transaction, individually or in the aggregate, may be material.

     The  Company  believes that its existing capital resources and its expected
fiscal  year 2005 results of operations and cash flows from operating activities
will be sufficient for the Company to remain in compliance with the requirements
of its Notes and the Restated Credit Agreement. However, since future results of
operations, cash flow from operating activities, debt service capability, levels
and  availability of capital resources and continuing liquidity are dependent on
future  weather  patterns,  oil  and  gas commodity prices and production volume
levels,  future  exploration  and  development  drilling  success and successful
acquisition transactions, no assurance can be given that the Company will remain
in  compliance  with  the  requirements  of  its  Notes  and the Restated Credit
Agreement.


                                     - 16 -
<PAGE>
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
------------------------------------------------------------------

COMMODITY RISK
--------------

     The  Company's  operations  consist  primarily of exploring for, producing,
aggregating  and  selling  natural  gas  and  oil.  Contracts  to deliver gas at
pre-established prices mitigate the risk to the Company of falling prices but at
the  same time limit the Company's ability to benefit from the effects of rising
prices.  The Company occasionally uses derivative instruments to hedge commodity
price  risk.  The  Company  hedges  a  portion  of  its  projected  natural  gas
production  through a variety of financial and physical arrangements intended to
support  natural  gas  prices  at  targeted levels and to manage its exposure to
price  fluctuations.  The  Company may use futures contracts, swaps, options and
fixed  price  physical  contracts to hedge commodity prices.  Realized gains and
losses from the Company's price risk management activities are recognized in oil
and  gas  sales  when  the associated production occurs.  Unrecognized gains and
losses  are  included  as  a  component  of  other  comprehensive  income.
Ineffectiveness  is  recorded  in current earnings. The Company does not hold or
issue  derivative  instruments  for trading purposes.  The Company currently has
elected  to  enter  into  derivative hedge transactions and fixed price physical
delivery contracts on its estimated production covering approximately 40% to 50%
for  the  fiscal  year  ending June 30, 2005; and 50% to 60% for the fiscal year
ending  June  30,  2006.

<TABLE>
<CAPTION>
                                              Total          Average
                                   Market    Volumes    Contract / Strike      Unrealized
Time period                        Index     (MMBtu)          Price          (Gains) Losses
--------------------------------------------------------------------------------------------
<S>                                <C>     <C>          <C>                 <C>
Derivatives

  Natural Gas Swaps

    October 2004 - December 2004   NYMEX        13,000  $             5.20  $       (21,554)
    October 2004 - March 2005      NYMEX       720,000                5.57        1,230,036
    December 2004 - February 2005  NYMEX       300,000                6.12          519,752
    December 2004 - June 2005      NYMEX     1,890,000                4.53        5,941,827
    October 2004 - March 2005      NYMEX       540,000                5.61          901,302
    July 2005 - March 2006         NYMEX       900,000                6.25          381,614
                                           -----------                      ----------------
    Unrealized Losses                        4,363,000                      $     8,952,977
                                           -----------                      ================

  Floors
    July 2005 - March 2006         NYMEX     2,160,000  $             6.00                -

  Collars
    July 2005 - March 2006         NYMEX     3,420,000  $      5.50 - 8.70                -

Physical Contracts
  Fixed Price Delivery Contracts
    October 2004                                85,250  $             4.85
                                           -----------

Total Hedged Production                     10,028,250
                                           ===========
</TABLE>

     Notwithstanding the above, the Company's future cash flows from gas and oil
production  are  exposed  to  significant volatility as commodity prices change.
Assuming  total  oil  and  gas  production,  pricing,  and the percentage of gas
production  hedged  under physical delivery contracts and derivative instruments
remain  at  September  2004  levels, a 10% change in the average unhedged prices
realized  would  change the Company's gas and oil revenues by approximately $0.7
million  on  a  quarterly  basis.


                                     - 17 -
<PAGE>
INTEREST  RATE  RISK
--------------------

     Interest  rate  risk  is  attributable  to the Company's debt.  The Company
utilizes United States dollar denominated borrowings to fund working capital and
investment needs.  There is inherent rollover risk for borrowings as they mature
and  are  renewed  at  current  market  rates.  The  extent  of this risk is not
predictable  because  of  the  variability  of  future  interest  rates  and the
Company's future financing needs.  In August 2004, the Company entered into four
interest rate cap agreements with Foothill, in an effort to reduce the potential
impact  of  increases  in  interest  rates on floating-rate long-term debt.  The
agreements  range from two to three years covering $40,000,000 in long-term debt
and cap the one month London Interbank Offered Rate ("Libor") at 3.5%.  Assuming
the  variable  interest  debt  remained  at  the September 30, 2004 level, a 10%
change  in  rates  would  have  a  $0.1 million impact on interest expense on an
annual  basis.


FOREIGN  CURRENCY  EXCHANGE  RISK
---------------------------------

     Some  of the Company's transactions are denominated in New Zealand dollars.
For  foreign  operations  with  the  local  currency as the functional currency,
assets  and  liabilities  are  translated  at the period end exchange rates, and
statements  of  income  are  translated at the average exchange rates during the
period.  Gains  and  losses  resulting  from  foreign  currency  translation are
included  as  a  component  of  other  comprehensive  income.


ITEM  4.  CONTROLS  AND  PROCEDURES
-----------------------------------

     Under  the  supervision  and  with  the  participation  of  our management,
including  our  principal executive officer and principal financial officer, the
Company  has  evaluated  the  effectiveness  of  the design and operation of our
disclosure  controls  and  procedures  within 90 days of the filing date of this
quarterly report and, based on their evaluation, our principal executive officer
and  principal  financial  officer  have  concluded  that  these  controls  and
procedures  are  effective.  There  were  no significant changes in our internal
controls  or  in  other  factors  that could significantly affect these controls
subsequent  to the date of their evaluation.  Disclosure controls and procedures
are  our  controls  and  other  procedures  that  are  designed  to  ensure that
information required to be disclosed by us in the reports that we file or submit
under  the  Securities Exchange Act of 1934, as amended, is recorded, processed,
summarized and reported, within the time periods specified in the Securities and
Exchange  Commission's  rules  and  forms.  Disclosure  controls  and procedures
include,  without  limitation,  controls  and procedures designed to ensure that
information required to be disclosed by us in the reports that we file under the
Securities  Exchange  Act  is  accumulated  and  communicated to our management,
including  our  principal  executive officer and principal financial officer, as
appropriate  to  allow  timely  decisions  regarding  required  disclosure.


PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

     As  previously  reported,  the  Company had been in litigation with certain
Holders  of  its $200,000,000 9 1/2%  Senior  Subordinated  Notes  due 2007 (the
"Noteholders")  (the  "Notes").  The dispute involved the calculation of the Net
Proceeds of an Asset Sale as defined in the Indenture dated May 23, 1997 between
the  Company  and  The  Bank  of New York.  The Company and the Noteholders have
settled


                                     - 18 -
<PAGE>
the dispute, as memorialized in the Settlement Agreement executed as of February
24, 2004, and attached to the Form 8-K filed by the Company on February 24, 2004
as Exhibit 99.11 (the "Settlement Agreement").  In settlement of the dispute the
Company  agreed  to  repurchase  $38  million in Notes.  The Company has met its
obligations under the Settlement Agreement having finalized the first Asset Sale
Offer  (as defined under the Indenture) in the amount of $4 million on March 24,
2004  and  the  second Asset Sale Offer in the amount of $34 million on July 29,
2004.  The  United  States  District  Court  for  the  Southern District of West
Virginia has entered a Dismissal Order dismissing the litigation with prejudice.

     The  Company  is involved in various other legal actions and claims arising
in  the  ordinary course of business.  While the outcome of these other lawsuits
against  the  Company  cannot  be  predicted with certainty, management does not
expect  these  matters  to  have  a  material  adverse  effect  on the Company's
operations  or  financial  position.

ITEM 2. CHANGES IN SECURITIES

          None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

          None

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

          None

ITEM 5. OTHER INFORMATION

          None

ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

     a)   Exhibits:

          31.1   Certification  of Chief Executive Officer Pursuant to Section
                 302 of  the  Sarbanes-Oxley  Act  of  2002

          31.2   Certification  of Chief Financial Officer Pursuant to Section
                 302 of  the  Sarbanes-Oxley  Act  of  2002

     b)   Reports  on  Form  8-K:

          None


                                     - 19 -
<PAGE>
                                   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 under
signed  thereunto, duly authorized, in the City of Denver, State of Colorado, on
the  12th  day  of  November  2004.



                                        ENERGY CORPORATION OF AMERICA



                                        By:   /s/ John Mork
                                           -------------------------------------
                                        John Mork
                                        Chief Executive Officer and Director



                                        By:   /s/ Michael S. Fletcher
                                           -------------------------------------
                                        Michael S. Fletcher
                                        Chief Financial Officer


                                     - 20 -
<PAGE>