SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

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


For quarter ended:   July 31, 1998          Commission file number: 000-18081

                       RAMEX SYNFUELS INTERNATIONAL, INC.
             (Exact name of Registrant as specified in its charter)

            Nevada                                         87-0360039      
(State or other jurisdiction                         (IRS Employer Ident. No.)
of incorporation  or organization)

2204 W. Wellesley
Spokane, Washington                                               99205
(Address of principal executive offices)                      (Zip  code)

                                 (509) 328-9633
                         (Registrant's telephone number)



_X_ Yes, Registrant (1) has filed all reports required to be filed by Section 13
or 15(d) of the  Securities  Act of 1934 during the  preceding 12 months (or for
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.

Indicate the number of shares  outstanding  of each of the  issuer's  classes of
common stock, as of the latest practical date:

                          Common Stock, $0.01 Par Value
                      16,023,465 shares as of July 31, 1998


                                 Total pages: 15
<PAGE>

                       RAMEX SYNFUELS INTERNATIONAL, INC.

                          QUARTERLY REPORT ON FORM 10-Q

                                      INDEX

Part I.   FINANCIAL INFORMATION

          Item 1. Financial Statements (unaudited)

                    Statement of Financial Position as of July 31, 1998 and
                    January 31, 1998

                    Statement of Operations For the Three and Six Months ended
                    July 31, 1998 and 1997

                    Statement of Changes in Stockholders' Equity For the Three
                    Month Periods Ended July 31, 1998 and 1997

                    Statement of Cash Flows For the Three and Six Month Periods
                    Ended July 31, 1998 and 1997

                    Notes to Financial Statements

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

Part II. OTHER INFORMATION.

         Item 1.  Legal Proceedings

         Item 2.  Changes in Securities

         Item 3.  Default Upon Senior Securities

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

         Item 5.  Other Information

         Item 6.  Exhibits and Reports of Form 8-K

                           SIGNATURES



<PAGE>


RAMEX SYNFUELS INTERNATIONAL, INC.         Statement of Financial Position as of
(UNAUDITED)                                July 31, 1998 and January 31, 1998
--------------------------------------------------------------------------------


                                     ASSETS
<TABLE>
<CAPTION>
                                                         (Unaudited)
                                                          April 30,       January 31,
                                                            1998             1998
                                                         -----------      -----------
<S>                                                      <C>              <C>        
CURRENT ASSET - Cash                                     $    11,745      $     1,281
                                                         -----------      -----------

TOTAL ASSETS                                             $    11,745      $     1,281
                                                         ===========      ===========


                      LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
    Accounts payable                                     $    62,863      $    64,295
    Due to officers and directors                            112,687          105,654
                                                         -----------      -----------

        Total current liabilities                            175,550          169,949
                                                         -----------      -----------

STOCKHOLDERS'  EQUITY
    Common stock; $.01 par value; 125,000,000
        shares  authorized; 14,323,465 shares issued
        and outstanding as of January 31, 1998;
        16,023,465 shares issued and outstanding
        as of July 31, 1998                                  160,234          143,234
    Additional paid-in capital                             4,577,237        4,577,237
    Accumulated deficit                                   (4,901,276)      (4,889,139)
                                                         -----------      -----------

        Total stockholders' equity                          (163,805)        (168,668)
                                                         -----------      -----------

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY               $    11,745      $     1,281
                                                         ===========      ===========
</TABLE>



   The accompanying notes are an integral part of these financial statements.


<PAGE>

<TABLE>
<CAPTION>
RAMEX SYNFUELS INTERNATIONAL, INC.                             Statement of Operations For the Three and Six
(UNAUDITED)                                                       Month Periods Ended July 31, 1998 and 1997
------------------------------------------------------------------------------------------------------------


                                             Three Month Periods                      Six Month Periods
                                        ----------------------------            ----------------------------

                                        July 31,            July 31,            July 31,            July 31,
                                          1998                1997               1998                 1997
                                        --------            --------            --------            --------
<S>                                      <C>                <C>                 <C>                 <C>
REVENUE                                  $   -0-             $   -0-            $    -0-            $    -0-
                                        --------            --------            --------            --------

GENERAL AND
     ADMINISTRATIVE EXPENSES               3,669               2,766              12,137              10,797
                                        --------            --------            --------            --------


NET (LOSS)                               $(3,669)            $(2,766)           $(12,137)           $(10,797)
                                        ========            ========            ========            ========


NET (LOSS) PER SHARE                     $ (NIL)             $ (NIL)            $  (NIL)            $  (NIL)
                                        ========            ========            ========            ========
</TABLE>



   The accompanying notes are an integral part of these financial statements.

<PAGE>

<TABLE>
<CAPTION>
RAMEX SYNFUELS INTERNATIONAL, INC.                                                Statement of Changes in Stockholders' Equity
(UNAUDITED)                                                                       For the Three Month Periods Ended 
                                                                                  July 31, 1998 and 1997
-------------------------------------------------------------------------------------------------------------------------------


                                              Common Stock                   Additional                      
                                     -------------------------------           Paid-In          Accumulated  
                                        Shares              Amount             Capital            Deficit              Total
                                     -------------------------------         -----------        -----------         -----------
<S>                                   <C>                <C>                 <C>                <C>                 <C>         
Balances as of April 30, 1997         14,323,465         $   143,234         $ 4,577,237        $(4,877,296)        $  (156,825)


Net (loss)                                                                                           (2,766)             (2,766)
                                     -----------         -----------         -----------        -----------         -----------

Balances as of July 31, 1997          14,323,465         $   143,234         $ 4,577,237        $(4,880,062)        $  (159,591)

                                     ===========         ===========         ===========        ===========         ===========




Balances as of April 30, 1998         16,023,465         $   160,234         $ 4,577,237        $(4,897,607)        $  (160,136)


Net (loss)                                                                                           (3,669)             (3,669)
                                     -----------         -----------         -----------        -----------         -----------

Balances as of July 31, 1998          16,023,465         $   160,234         $ 4,577,237        $(4,901,276)        $  (163,805)
                                     ===========         ===========         ===========        ===========         ===========
</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


<TABLE>
<CAPTION>
RAMEX SYNFUELS INTERNATIONAL, INC.                          Statement of Cash Flows For the Three and 
(UNAUDITED)                                                 Six  Month Periods Ended July 31, 1998 and 1997
-----------------------------------------------------------------------------------------------------------


                                                  Three Month Periods                 Six Month Periods
                                                -------------------------        --------------------------
                                                 July 31,        July 31,          July 31,         July 31,
                                                  1998             1997             1998             1997
                                                --------         --------         --------         --------
<S>                                             <C>              <C>               <C>             <C>      
CASH FLOWS FROM
        OPERATING ACTIVITIES
    Net (loss)                                  $ (3,669)        $ (2,766)         (12,137)        $(10,797)
    Increase in payables and due
            to officers and directors              1,735            3,000            5,601            6,600
                                                --------         --------         --------         --------

                Net Cash Provided (Used)
                     From Operating               (1,934)             234           (6,536)          (4,197)
                         Activities             --------         --------         --------         --------
                                                  


CASH FLOWS FROM
        FINANCING ACTIVITIES
    Sale of common stock                                                            17,000            5,000
                                                                                  --------         --------


NET INCREASE (DECREASE)
        IN CASH                                   (1,934)             234           10,464              803


CASH AT BEGINNING OF PERIOD                       13,679            2,778            1,281            2,209
                                                --------         --------         --------         --------


CASH AT END OF PERIOD                           $ 11,745         $  3,012         $ 11,745         $  3,012
                                                ========         ========         ========         ========
</TABLE>



   The accompanying notes are an integral part of these financial statements.



<PAGE>


Ramex Synfuels International, Inc.                 Notes to Financial Statements
(Unaudited)                                                  as of July 31, 1998


NOTE 1 -  MANAGEMENT OPINION:

          The  financial  statements  of  Ramex  Synfuels  International,  Inc.,
          ("Ramex")  included herein have been prepared without audit,  pursuant
          to  the  rules  and   regulations   of  the  Securities  and  Exchange
          Commission.   Although,   certain  information  normally  included  in
          financial  statements  prepared in accordance with generally  accepted
          accounting  principles has been  condensed or omitted,  Ramex believes
          that the disclosures  are adequate to make the  information  presented
          not misleading.  The condensed financial  statements should be read in
          conjunction  with the financial  statements and notes thereto included
          in  Ramex's  annual  report on Form  10-K for the  fiscal  year  ended
          January 31, 1998.



<PAGE>


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

     Results of Operations

     During the three month period  ending July 31,  1998,  the  Company's  only
activity  was to assess  the  possibility  of  further  laboratory  testing  and
research  concerning the Ramex Oil Shale  Gasification  Process (the "Process").
The Company's  Management  continued to pursue financing for the Ramex Oil Shale
Gasification Process and continued corporate  operations.  The Company continues
to pursue other business opportunities as well.

     Pursuant to a Contractual  Agreement  with  Southwest  Research  Institute,
Ramex paid for the first phase testing of the Ramex Process.  The first phase is
intended to establish  the  recommended  scope of work  required to initiate the
multi-phase  project  as  hereafter  described,  which  may  lead to a  possible
pilot-scale  phased field  demonstration.  The scope of work  represents a plan,
which should match the technical,  financial and time  scheduling  objectives of
Ramex for research and developing the Process.

     In a report dated August 25, 1995,  Southwest  Research  Institute reported
the following results concerning the first phase testing of the Ramex Process:

Phase I Studies

     The  technical  efforts  presented  in this report  represent  Phase I of a
multiple-stage  research program aimed at investigating  and  demonstrating  the
Ramex  Synfuels  International  oil  shale  gasification  process.  This  report
presents  the results of Phase I;  Preliminary  Laboratory  Demonstration  Tests
designed to: (1)  investigate  the  gasification  process on a small scale using
electric heaters in oil shale samples  approximately 0.25 cu. ft. in volume; and
(2) sample internal  temperatures to determine the effective thermal  properties
over the temperature  range in which the kerogen in the shale undergoes  changes
from  semisolid to liquid vapor or gas. The first of these  objectives  required
development and refinement of appropriate test apparatus to achieve a successful
testing methodology and procedure.  The second objective  successfully  provided
experimental data needed to understand the shale  gasification  process and heat
transfer  properties of the oil shale and to plan more  thorough  studies of the
high-temperature  heat  transfer  process for  follow-on  phases of the research
program.

     The laboratory  demonstration  tests  performed in Phase I revealed a basis
for interpreting and characterizing the in situ oil shale gasification  process.
Interpretations  listed below,  as conclusions  and  recommendations  for future
work, are summary highlights for Phase I.

Phase I Conclusions

     (1)  The  experimental   investigations   of  Phase  I  have   successfully
demonstrated the basic shale  gasification  process  described in Ramex Synfuels
International  Patent No. 4,928,765 dated May 29, 1990. The small scale of these
experiments did not permit the shale gas energy production efficiency to be


<PAGE>


determined. Instead, Phase I provided valuable data and insight into the thermal
properties of the oil shale materials and the testing  procedures  necessary for
more  complete  gasification  similitude  evaluation  tests on larger  oil shale
samples.

     (2)  Heating  the  oil  shale  samples  in  a  manner  representative  of a
full-scale  field setup was successful in producing both liquid shale oil and in
liberating  shale gas.  Shale oil and gas  production  was  consistent  with the
kerogen  richness of the samples.  In  addition,  the  experimental  arrangement
permitting  cyclic  liquid-vapor  reflux  processing  yielded a  proportionately
greater amount of shale gas. As a result,  the origins of the shale gas must, at
present,  be considered to be twofold;  namely,  liberation of methane and other
hydrocarbon  gases  originally  trapped in the  semi-solid  kerogen  and thermal
cracking of the kerogen vapors in the heated production and gas delivery zone of
the sample. The reflux process observed in the laboratory experiments appears to
be adaptable as a full-scale field system feature to utilize downhole waste heat
to enhance gas production. The residual shale oil liquids and vapors potentially
can be used as fuel for the downhole  heater in the full-scale  system.  The net
shale gas product is then available for other external  energy  applications  or
for pipeline transport.

     (3) The heat  transfer  characteristics  derived  for the  tested oil shale
samples are comparable with those of other oil shales reported in the literature
and provide adequate data for designing future  laboratory  experiments with the
objective of truly simulating the complete shale gasification process.

     (4) Important  technical  lessons  learned in Phase I will be of particular
benefit in the planning and design of follow-on laboratory  experiments in Phase
II. The sequence of  experiments  in Phase I have led to refined  sample testing
configurations  and now  provide a  database  of  heating  power and shale  heat
transfer  information on which to base new experimental  tests using larger size
shale  samples and  increased  heating  power.  Electrical  heating  methods are
preferred  for these tests  because of their  accurate  heat  control and heater
durability.  Shale  oil  vapor  and  gas  collection  techniques  are  now  well
understood from the Phase I tests and can be used for quantitative  analysis and
design of more advance laboratory experiments in Phase II.

     (5) Successful results from the preliminary  demonstration  tests performed
in Phase I indicate  that the Ramex Process shows good promise for further study
and  development.  More advanced  laboratory  experiments are now recommended to
study the net energy  recovery  efficiency  of the  method  and to  develop  the
necessary  downhole heaters and associated system  components  required to begin
pilot field evaluation tests.

Recommendations for Future Work

     (1) Additional  laboratory tests are recommended to be performed on a wider
selection of oil shale samples to better  characterize  and  understand the heat
transfer process in the shale. These tests should encompass a range of oil shale
richness  and  different  types of shale rock  matrix  (Eastern  and Western oil
shales).  These tests will also be valuable in establishing a routine method for
evaluating future field sites for potential gasification.

     (2) Larger scale laboratory demonstration  experiments using larger heating
power are recommended to more  accurately  quantify the heat energy required for
gasification  and to better  evaluate the gas production  process.  Sample sizes
having a volume in the range of ten cubic feet or larger are recommended.


<PAGE>


Data  collected on the smaller  samples tested to date can be used to accurately
specify the sample sizes needed for future testing.

     (3) Field  site  geological  reconnaissance  and  sampling  is  needed  for
purposes of gathering appropriate oil shale samples for future laboratory tests.
These  efforts could be broadened to include  characterization  of various field
sites for future pilot-scale field testing of the shale gasification process.

     (4)  Prototype  downhole  heater  design and  development  is necessary for
testing  shale  gasification  on a pilot  scale in the  field.  Based on certain
downhole  operational  and design  constraints  emerging from the Phase I tests,
prototype  gas-fired  heater  system  designs are  recommended  to be developed,
including  the  specification  of any  special  materials  needed for  long-term
operational  life.  Prototype  heater  designs are  recommended  to be tested in
controlled and instrumented shallow limestone rock locations prior to testing in
oil shale settings.

     (5)  Numerical  modeling  of  the  oil  shale  gasification  process  is an
important  aspect of predicting the  performance of the method under the various
conditions  that  may  be  encountered  in  the  field.   The  laboratory  tests
recommended  above will yield the thermal  parameters  needed for developing and
applying  such models.  Certain  existing and  commercially  available  computer
models  for heat  transfer  applications  are  recommended  to be adapted to the
special  needs  of  this  project,  including  the  ability  to  handle  kerogen
phase-change  phenomena,  the problem of heat  transfer in a porous rock matrix,
and the  nonconservative  process of removing heated  hydrocarbon  mass from the
system.  Properly  developed,  a computer  simulation model will be particularly
valuable in  characterizing  and optimizing the full-scale field experiments and
in the selection of practical pilot-scale test sites.

     (6) A  pilot-scale  oil  shale  gasification  system is  recommended  to be
designed and specified  for  construction.  This design  should be  specifically
oriented  toward  initiating  operational  tests  at a  field  test  site  where
controlled  performance testing and measurements are possible. A follow-on phase
of this project is  recommended  to be dedicated to the  construction  and field
operational testing of the pilot-scale system.

     Ramex is  attempting to obtain  financing for the second,  third and fourth
phases,  while the first phase has been  completed  the  following is a proposed
summary of the additional three phases of this project:

Phase II.  Laboratory Studies and Analytical Modeling of Shale Gasification:

     The experimental  heat transfer testing  techniques used in Phase I will be
refined  and  applied to  additional  samples of oil shale and  samples of shale
boundary rock materials from several  representative  field sites. The effective
thermal   conductivity  and  thermal  diffusion  constant  of  these  materials,
incorporating   combined  rock  matrix  heat   conduction  and  pore-space  heat
radiation,  will be determined to accurately characterize the thermal properties
of the oil shales and other  geological  boundary rock  materials  that are most
representative  of typical  oil shale  gasification  sites.  In addition to this
work, a mathematical  model of the in situ heat transfer  characteristics of the
gasification process will be formulated to predict the full-scale performance of
the  technique  in a layered oil shale  formation  using the  laboratory-derived
shale  and  boundary  rock  thermal  parameters.  Typical  model  cases  will be
evaluated to yield idealized  estimates of the heat transfer process.  Numerical
models will be  evaluated  to yield  idealized  estimates  of the heat  transfer
process.  Numerical  models  will  also be  computed  to allow  the  effects  of
inhomogeneties in kerogen content


<PAGE>


and the presence of fractures to be evaluated. The results of this phase of work
will be a comprehensive  process  parameter study from which a full-scale  field
test can be designed and implemented in Phase III.

Phase III.  Instrumented Field Experiment:

     An  appropriate  shallow  oil shale test site will be  selected  at which a
controlled  and   instrumented   field   evaluation   experiment  of  the  shale
gasification process can be performed.  Experimental  downhole heater equipment,
down hole temperature  monitor probes, and a surface gas recovery system will be
designed  and  constructed  for  use in  this  experiment.  The  scope  of  this
experiment will be sufficient to demonstrate the gasification  technique in situ
and to allow the reliability of the various experimental equipment components to
be determined.  This field experiment will also provide important information on
the practical gas production efficiency,  self-heating efficiency, and safety of
the process for the particular test site selected.

Phase IV.  Pilot-Scale Shale Gasification Project:

     A  pilot-scale  field  demonstration  shale  gasification  system  will  be
constructed and installed in a representative oil shale field for the purpose of
operational testing and performance evaluation.  The goals of this phase of work
are to produce shale gas,  convert it to  commercially  assessable  energy,  and
evaluate the operating performance and endurance/maintenance  characteristics of
the overall installation.

     Therefore,  based on the  above-described  program,  Ramex  has an  overall
plan/program,  that may ultimately  reach  commercial  production.  On April 29,
1994, a Plan was  submitted to the United States  Department  of Energy  ("DOE")
seeking funding to allow the Ramex process to proceed.  The plan was declined to
the lack of funds set-aside for oil shale projects, however it maybe resubmitted
at a later date.

     The Company is currently seeking funding from private sources,  the outcome
of this,  is yet to be  determined.  The  financing  requested  by this  plan is
crucial to the  ongoing  development  of the  process  as well as the  corporate
existence.

     Liquidity and Capital Resources

     As of July 31, 1998,  the  Company's  assets  consisted of $11,745 in cash.
Since there is no certainty of the success of the  negotiations  for funding for
the  further  research,  laboratory  testing  and  since the  Registrant  has no
significant  source of income at this time,  uncertainties do exist with respect
to the future  levels of Liquidity  and Capital  which will be necessary to fund
the Company's operations and its ability to maintain adequate levels thereof.


<PAGE>


     PART II OTHER INFORMATION.

Item 1.  Legal Proceedings.

     The officers and  directors of the  Registrant  certify that to the best of
their knowledge, neither the Registrant nor any of its officers or directors are
parties  to any  material  legal  proceedings  or  litigation  other  than those
referenced herein, if any, or others that were reported in prior reports on Form
10-Q.  The officers and  directors  of the  registrant  do not know of any other
litigation being threatened or contemplated.

Item 2.  Changes in Securities.

     None.

Item 3.  Defaults Upon Senior Securities.

     None.

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

     There were no matters  submitted to a vote of the  shareholders  during the
quarter ending July 31, 1998.

Item 5.  Other Information.

     None.

Item 6   Exhibits and Reports on Form 8-K

     (a) Not applicable.

     (b) No reports were filed pursuant to Form 8-K.

<PAGE>

                       RAMEX SYNFUELS INTERNATIONAL, INC.
                                    FORM 10-Q
                                  July 31, 1998


                                   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.


                                              RAMEX SYNFUELS INTERNATIONAL, INC.


Dated:  September 10, 1998                  /s/ Maynard M. Moe                  
                                            ------------------------------------
                                                Maynard M. Moe, President and
                                                Chief Executive Officer


Dated:  September 10, 1998                  /s/ Kerry L. Weger                  
                                            ------------------------------------
                                                Kerry L. Weger,
                                                Secretary-Treasurer and
                                                Chief Financial Officer