SECURITIES AND EXCHANGE COMMISSION
                      Washington, D.C. 20549

                           Form 10-QSB


[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

       For the quarterly period ended September 30, 1996

                                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         0-14609                        

                              AMERECO, INC.                   
      (Exact name of Registrant as specified in its charter)

             Utah                           84-0960456        
(State of other jurisdiction of          (I.R.S. Employer
 incorporation or organization)          Identification No.)

  680 Atchison Way, Suite 800  Castle Rock, Colorado  80104   
    (Address of principal executive offices)        (Zip Code)

                         (303) 688-5160                       
       (Registrant's telephone number, including area code)




Check whether the Issuer (1) filed all reports required to be filed by Section
 13 or 15(d) of the Securities Exchange Act 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      .

As of September 30, 1996, Issuer had 4,915,780 shares of common stock
outstanding.
                          AMERECO, INC.
                        September 30, 1996
                                 

                                                  Page No.

PART I Financial Information:

Item 1.Financial Statements:
       Balance Sheets as of September 30, 1996
       and December 31, 1995                                    3

       Statements of Operations for the Three and
       Nine Months ended September 30, 1996 and 1995           4-5

       Statements of Stockholders' Equity
       for the Nine Months ended September 30, 1996             6  

       Statements of Cash Flows for the
       Nine Months ended September 30, 1996 and 1995            7
  
       Notes to Financial Statements                            8-12

Item 2 Management's Discussion and Analysis of                 
        Financial Condition and Results of Operations           13-14           
PART II 

       Items 1-6 Other Information                              15

Signatures                                                      16


                              AMERECO, INC.
                         COMBINED BALANCE SHEETS
                               (UNAUDITED)

<TABLE>                               <C>         <C>            <C>             <C> 

                                             Omnivest   Consolidating  
                            AMERECO, Inc. Resources, Inc.Eliminating    Combined
                            Sept 30, 1996 Sept 30, 1996    Entries Sept 30, 1996
ASSETS:
Current assets:
 Cash in checking accounts        169,633       5,918                   175,551
 Debt retirement reserve                0   1,000,000                 1,000,000
 Receivables - trade                    0     429,067                   429,067
 Other receivables                 44,875     194,686      (203,233)     36,328
 Inventories                            0   2,051,492                 2,051,492
 Prepaid expenses                 141,836      71,173                   213,009
                                  356,344   3,752,336                 3,905,447
Property and equipment, net:
 Land and improvements                  0     453,382                   453,382
 Machinery and equipment                0  13,620,268                13,620,268
 Office equipment                       0     102,396                   102,396
 Less accumulated depreciation          0   (421,820)                  (421,820)
                                        0  13,754,226                13,754,226
Other assets:
 Investment-Omnivest Resources 13,112,383           0   (13,112,383)          0
 Organization costs, net                0           0                         0         --
 Loan cost, net                         0           0                         0         --
 Pipeline, net                    182,559           0                   182,559
 Container patent                  20,000           0                    20,000
                               13,314,942           0                   202,559
                               13,671,286  17,506,562                17,862,232

LIABILITIES AND STOCKHOLDERS'EQUITY
Current Liabilities:
 Current portion of lg-tm debt    145,983   1,358,275                 1,504,258
 Accounts payable - trade          68,846     600,115                   668,961
 Other payables                   172,788      98,000      (144,070)    126,718
 Accrued salaries and taxes       432,107     132,086                   564,193
 Other accrued expenses            48,468   1,049,986       (59,163)  1,039,291
                                  868,192   3,238,462                 3,903,421

 Long-term debt                         0   2,207,356                 2,207,356

Stockholders' equity:
 Common stock                       4,916       4,502        (4,502)      4,916
 Additional paid-in capital    12,820,989  14,732,160   (13,107,881) 14,445,268
 Accumulated deficit                    0 (2,174,715)                (2,174,715)
 Current period profit (loss)     (22,811)  (501,203)                  (524,014)
                               12,803,094  12,060,744                11,751,455
                               13,671,286  17,506,562                17,862,232
</TABLE>
<TABLE>                       <C>             <C>            <C>            <C>

                              AMERECO, INC.
                         COMBINED BALANCE SHEETS
                               (UNAUDITED)



                                            Omnivest   Consolidating
                           AMERECO, Inc. Resources, Inc. Eliminatng     Combined
                           Dec. 31, 1995 Dec. 31, 1995    Entries  Dec. 31, 1995
ASSETS:
Current assets:
 Cash in checking accounts         4,056      39,074                     43,130
 Debt retirement reserve               0   1,000,000                  1,000,000
 Receivables - trade                   0     332,014                    332,104
 Other receivables               215,070     171,354     (375,820)       10,604
 Inventories                           0   1,220,883                  1,220,883
 Prepaid expenses                      0      29,407                     29,407
                                 219,126   2,792,732                  2,636,038
Property and equipment, net:
 Land and improvements                 0     450,179                    450,179
 Machinery and equipment               0  12,675,717                 12,675,717
 Office equipment                      0      91,814                     91,814
 Less accumulated depreciation         0    (241,068)                  (241,068)
                                       0  12,976,642                 12,976,642
Other assets:
 Investment-Omnivest Resources 3,926,675           0   (3,926,675)            0
 Organization costs, net               0     119,060                    119,060
 Loan cost, net                        0     262,977                    262,977
 Pipeline, net                   201,559           0                    201,559
 Container patent                 20,000           0                     20,000
                               4,148,234     382,037                    603,596
                               4,367,360  16,151,411                 16,216,276

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Current portion of lg-tm debt   144,108     963,504                  1,107,612
 Accounts payable-trade           68,846     714,742                    783,588
 Other payables                   33,718     152,687                    183,715
 Accrued salaries and taxes      961,544     109,428     (274,427)      796,545
 Other accrued expenses           29,251     267,905      (98,703)      198,453
                               1,237,467   2,208,266                  3,069,913

Long-term debt                         0   3,597,906                  3,597,906

Stockholders' equity:
 Common stock                      1,088           0                      1,088
 Additional paid-in capital    3,128,805  12,519,954   (3,926,675)   11,722,084
 Accumulated deficit                   0 (1,017,022)                 (1,017,022)
 Current period profit (loss)          0 (1,157,693)                 (1,157,693)
                               3,129,893  10,345,239                  9,548,457
                               4,367,360  16,151,411                 16,216,276
</TABLE>                                                                      
<TABLE>                            <C>          <C>           <C>           <C>             <C>
                                                            AMERECO, INC.
                                                    COMBINED STATEMENTS OF OPERATIONS
                                                             (UNAUDITED)
                                         Three Months Ended September 30, 1996     Three Months Ended September 30, 1995
                                                 Omnivest       Eliminating         AMERECO/Omnivest Resources, Inc.
                               AMERECO, Inc.  Resources, Inc      Entries      Combined        Combined       
Net Sales                                  0     $821,269                      $821,269        $314,319
Management fees                       62,661            0        (62,661)             0               0
Costs of Sales                             0      581,202                       581,202         284,874
Gross Profit                          62,661      240,067                       240,067          29,445

Operating Expense:
 Selling expenses                          0      126,895                       126,895          82,936
 Administrative expenses              67,356       66,566        (62,661)        71,261         183,231
 Transportation expenses                   0       21,932                        21,932               0
Total Operating Expenses              67,356      215,393                       220,088         266,167

Income (Loss) from Operations         (4,695)      24,674                        19,979        (236,722)

Other (Income) Expenses:
 Interest income                           0      (12,516)                      (12,516)        (16,279)      
 Other income                              0            0                             0          (7,471)
 Interest expense                      4,253      106,705                       110,958         159,188
 Loss on Sale of Assets                                                                          86,135    

Total Other (Income) Expenses:         4,253       94,189                        98,442         221,573

Income (Loss) Before Depreciation,
 Amortization, and Extraordinary Items(8,948)     (69,515)                      (78,463)       (458,295)
 Depreciation and Amortization         6,333        4,335                        10,668          73,231
Loss Before Extraordinary Item and
 Cumulative Effect of Accounting
 Change                              (15,281)     (73,850)                      (89,131)       (531,526)
 Extraordinary Item - interest                          0                             0               0
 Cumulative Effect of Accounting Change    0            0                             0               0

Net Income (Loss)                   ($15,281)    ($73,850)                      ($89,131)     ($531,526)

Net Income (Loss) Per Share Before
 Extraordinary Item and Cumulative
 Effect of Accounting Change                                                    ($0.02)          ($0.11)
 Extraordinary Item - Interest                                                    0.00             0.00
 Cumulative Effect of Accounting Change                                           0.00             0.00
Net Income (Loss) Per Share                                                     ($0.02)          ($0.11)

Weighted average common shares for
 computing per share data                                                    4,839,915        4,736,828
</TABLE>
<TABLE>                      <C>            <C>            <C>              <C>              <C>
                                                       AMERECO, INC.
                                           COMBINED STATEMENTS OF OPERATIONS
                                                        (UNAUDITED)

                                        Nine Months Ended September 30, 1996       Nine Months Ended September 30, 1995
                                                Omnivest      Eliminating            AMERECO/Omnivest Resources, Inc.
                               AMERECO, Inc.  Resources, Inc.   Entries     Combined         Combined                         
Net Sales                                 $0    $2,362,872                 $2,362,872        $656,185
Management fees                       85,292             0      (85,292)            0               0
Cost of Sales                              0     1,800,955                  1,800,955         579,552

Gross Profit                          85,292       561,917                    561,917          76,633

Operating Expense:
 Selling expenses                          0       387,062                    387,062         264,991
 Administrative expense               93,988       207,777      (85,292)      216,473         476,232
 Transportation expenses                   0        65,825                     65,825               0
Total Operating Expenses              93,988       660,664                    669,360         741,223

Income (Loss) from Operations         (8,696)      (98,747)                  (107,443)       (664,590)

Other (Income) Expenses:
 Interest income                           0       (37,510)                   (37,510)        (15,535)
 Other income                              0        (1,749)                    (1,749)         (8,654)
 Interest expense                      5,671       302,619                    308,290         396,640
 Loss on Sale of Asset                     0             0                          0          86,135      
Total Other (Income) Expense           5,671       263,360                    269,031         458,586

Income (Loss) Before Depreciation,
 Amortization and Extraordinary items(14,367)     (362,107)                  (376,474)     (1,123,176)
 Depreciation and Amortization         8,444       395,039                    403,483          76,854

Loss Before Extraordinary Item and
 Cumulative Effect of Accounting Change(22,811)   (757,146)                  (779,957)     (1,200,030)
 Extraordinary Item - interest             0        91,253                     91,253         176,279
 Cumulative Effect of Accounting Change    0       164,690                    164,690               0

Net Income (Loss)                   ($22,811)    ($501,203)                 ($524,014)    ($1,023,751)

Net Income (Loss) Per Share Before Extraordinary Item
 and Cumulative Effect of Accounting Change                                    ($0.16)         ($0.26)
 Extraordinary Item - interest                                                   0.02            0.04
 Cumulative Effect of Accounting Change                                          0.03            0.00
Net Income (Loss) Per Share                                                    ($0.11)         ($0.22)

Weighted average common shares for
 computing per share data                                                   4,823,944       4,736,828
</TABLE>
<TABLE>                      <C>                 <C>           <C>               <C>
                                             AMERECO, INC.
                                 Statements of Stockholders' Equity
                             For the Nine Months Ended September 30, 1996
                                              (Unaudited)


                             Additional                            Total
          Common Stock                                Paid-In  Accumulated Shareholders'
    Shares            Amount                          Capital                   Deficit              Equity   

Balance at December 31, 1995      1,087,806      $1,088   $10,129,678   ($7,000,873)    $3,129,893

Common stock issued to acquire
 all outstanding shares of
 Omnivest Resources, Inc.
 under conversion option          3,186,118       3,186     7,381,378            --      7,384,564

Common stock issued to retire
 note payable of
 Omnivest Resources, Inc.           490,953         491     1,216,217            --      1,216,708                         
Issuance of additional common stock  59,067          59        83,941            --         84,000

Net Income AMERECO, Inc.for the
 five months ended May 31, 1996                                             368,468        368,468
 

Reverse Purchase
 AMERECO, Inc.                                             (6,632,405)    6,632,405             --
 Omnivest Resources, Inc.                                   2,174,715    (2,174,715)            --

Issuance of additional common stock 91,836          92         91,744            --         91,836      
Net Loss for the nine months ended
 September 30, 1996              ___________    ________   ___________     (524,014)      (524,014)

Balance at Sept 30, 1996          4,915,780      $4,916   $14,445,268   ($2,698,729)   $11,751,455
</TABLE>
<TABLE>                                      <C>                <C>

                          AMERECO, INC.
                Combined Statements  of Cash Flow
                           (Unaudited)

                                          Nine Months    Nine Months
                                              Ended         Ended
                                          Sept 30, 1996 Sept 30, 1995

Cash Flow from Operating Activities:
 Net Loss                                   ($524,014)  ($1,023,751)
 Adjustments to reconcile net loss to net
   Cash used in operating activities:
   Depreciation and amortization              581,789       293,706
 Changes in operating assets and liabilities:
   (Increase) Decrease in debt retirement           0    (1,000,000)
   (Increase) Decrease in receivables-trade   (97,053)     (153,980)
   (Increase) Decrease in other receivables   (25,724)       24,137
   (Increase) Decrease in inventories        (830,609)     (862,388)
   (Increase) Decrease in prepaid expenses   (183,602)       10,357
   Increase (Decrease) in current portion of
      long-term debt                          396,646       (62,500)
   Increase (Decrease) in payables-trade     (114,627)     (268,513)
   Increase (Decrease) in other payables      (56,997)       40,175
   Increase (Decrease) in accr. sals.& taxes (232,352)      (85,462)
   Increase (Decrease) in other accr. exps.   840,838      (102,966)

Net cash provided (used) by operating acts.  (245,705)   (3,191,185)

Cash Flows from Investing Activities:
 Increase in property and equipment          (958,336)     (689,104)

Cash Flows from Financing Activities:
 Increase in loan costs                            --      (325,847)
 Increase in notes payable                    224,622     4,582,235
 Conversion of debt to equity              (1,216,708)   (6,931,000)
 Increase in additional paid-in capital            --     6,931,000
 Payment of long-term debt                   (398,464)     (274,870)
 Proceeds from sale of stock                2,727,012            --

Net cash provided (used) by financing acts. 1,336,462     3,981,518

Net Increase (Decrease) in cash               132,421       101,229
 Cash, beginning of period                     43,130         9,817

Cash, ending of period                       $175,551      $111,046

</TABLE>






                          AMERECO, Inc.
                  Notes to Financial Statements
                        September 30, 1996


Note 1: Summary of Significant Account Policies

Operations
AMERECO, Inc. (the "Company") was organized as a Utah corporation on October
16, 1974, under the name of Norcal Chemical Corporation.  The Company's name
was changed to AMERECO, Inc. in June 1995.  In 1986 the Company acquired
through the United States Bankruptcy Court a lightweight aggregate facility
located in Clay County, Georgia and acquired a sand and gravel property in
Columbus, Georgia. In 1988 the Company's current management was elected.  In
April 1992 the Company sold the non-operating sand and gravel property
utilizing the proceeds from the sale to retire indebtedness owed to creditors
of the Company and creditors in the Chapter 11 proceeding.  In March 1993 the
Company formedand became the General Partner of Omnivest Resources, L.P. (the
"Partnership") for the purpose of raising capital or financing necessary to
refurbish and place into production the lightweight aggregate facility in
Clay County, Georgia.  The Company transferred to the Partnership all of the
Company's title and interest in the lightweight aggregate facility, subject
to $311,250 of Company indebtedness, in exchange for a 99.9% general
partnership interest.  The Company concurrently executed a Credit Agreement
with C.I.S. Resources Limited Liability Company ("CIS") and Georgia
Resources, Inc. ("GRI").  The Company as managing general partner of the
Partnership, managed the refurbishment of the plant and currently the
operation of the lightweight aggregate facility under the terms of a
management agreement.

In June 1995 after Company stockholder approval of the transfer of assets to
the Partnership, CIS and GRI converted the total advanced under the Credit
Agreement into a 78.13% Limited Partnership interest.  The Partnership then
consummated a $4.5 million loan facility with an outside lender.  The Company
as General Partner guaranteed the loan.  As a requirement for the loan, a
$1.25 million Letter of Credit was obtained by GRI for the benefit of the
Partnership.  As consideration to GRI, the Company issued an additional 1.75%
Limited Partnership Interest to GRI.  With the conversion of the lenders to
Limited Partners and the additional Limited Partnership interest for the
Letter of Credit as collateral, the Company reduced its General Partnership
interest from 99.9% to 20.02%.  In addition the Partnership had capital
requirements of $1.0 million which was funded by sale of additional Limited
Partnership interests.  The Company's ownership interest was reduced by 1.70%
to 18.32%.

On June 1, 1996, in accordance with agreements previously approved by the
Company's shareholders, the Limited Partners converted their respective
partnership interests into shares of the Company's common stock through a
reverse merger step transaction in which the business owned assets were placed
in a corporation (Omnivest Resources, Inc.) which is now a wholly owned
subsidiary of the Company.

Cash and Cash Equivalents
The Company considers all investments purchased with an original maturity of
three months or less to be cash equivalents.

Inventories
Inventories for the Company are stated at the lower of Cost (last-in,
first-out, LIFO) or market.  (See Note 9).

                          AMERECO, Inc.
            Notes to Financial Statements (continued)
                         September 30, 1996

Note 1: Summary of Significant Accounting Policies (continued)

Property and Equipment
The Company Property and Equipment are stated at cost. Costs are depreciated
using the units of production method.  In addition, office furniture, equipment
and a pipeline are depreciated using the straight-line method over the
estimated useful lives of the assets.  When assets are retired or disposed
of, all applicable costs and accumulated depreciation are retired from the
accounts and any resulting gain or loss is recognized. 
                             Useful Life
 Classification               In Years                 Cost                    
                                                9/30/96        12/31/95        
 Machinery and equipment        N/A            13,620,268    12,675,717
 Office furniture & equipment   5-7               102,396        91,814
 Land and Improvements          N/A               453,382       450,179
                                               14,176,046    13,217,710
 Accumulated depreciation                        (421,820)     (241,068)        
 Net                                           13,754,226    12,976,642         

Income Taxes
Effective in 1992, the Company adopted the provisions of FASB Statement No. 109
"Accounting for Income Taxes", which requires the asset and liability method of
accounting for income taxes.

Loss Per Share
Net loss per common share is computed using the weighted average number of
common shares outstanding.  Outstanding options are not included in the
calculation of net loss per common share since their impact is anti-dilutive.

Note 2: Notes Payable

Notes payable and current portion of long-term notes at September 30, 1996
consist of the following:

Note Payable, secured by all assets owned 
or hereafter acquired of Omnivest Resources,
Inc., interest rate of prime plus 2.25%
paid monthly plus $25,000 principal;
due June 15, 1997.                             $2,375,000




                          AMERECO, Inc.
            Notes to Financial Statements (continued)
                       September 30, 1996


Note 2: Notes Payable (continued)

Note Payable, secured by all assets owned
or hereafter acquired of Omnivest Resources,
Inc., interest paid monthly with an interest rate
of prime plus 2.25%, advances under the
revolving loan shall not exceed 70% of
eligible accounts receivable and 45% of
eligible inventory; due June 15, 1997.           $999,051
                                 
Note Payable, secured by mobile equipment,
42 monthly installments of principal and
interest in the amount of $6,379; due
August 15, 1999                                  $191,580

Note payable, unsecured bearing interest
at 12% due March 31, 1997                        $ 75,000

Note payable, unsecured bearing interest
at 10% due June 30, 1996                          $27,087

Note payable, unsecured bearing interest
at 8% due September 8, 1987                        $3,896

Note payable, unsecured bearing interest
at 13%, interest paid semiannually,
due April 14, 1997                                $40,000

     Total debt                                $3,711,614
     Less current portion                       1,504,258

     Total long-term debt                      $2,207,356

Note 3: Stock Options

In June 1995 the stockholders of the Company approved a stock option plan. 
Under the plan, the Board of Directors may grant options for the purchase of up
to 100,000 common shares.  The options may be exercisable for not more than ten
years and the option price must be not less than market value.  Non-qualified
(non-employees) may be granted options at an option price determined by a
committee.  At September 30, 1996, 22,500 non-qualified options have been
granted with an exercise price of $4.00 and an expiration year of 2001. At
September 30, 1996, no options have been exercised.


                          AMERECO, Inc.
            Notes to Financial Statements (continued)
                        September 30, 1996

Note 3:   Stock Options (continued)

Additionally, the Company granted options to officers, directors and others for
their past contributions. No options have been exercised.

The following table represents these options outstanding:

                                        Exercise     Expiration
                            Granted       Price         Date

Officers and directors      400,000       $ 4.25       12/31/99
                            300,000       $ 1.50       12/31/99
                              2,500       $ 4.00         1/1/01
                              2,500       $ 4.00         7/1/01

Others                      400,000       $ 4.25       12/31/99 
                             20,000       $ 4.75       12/31/99
                             17,500       $ 4.00         7/1/01

     Total                1,142,500   


Note 4: Commitments and Contingencies

The Company's operations are subject to various federal, state and local laws
governing protection of the environment.  These laws are continually changing
and in general are becoming more restrictive.  The Company believes that it is
in compliance with all applicable laws and regulations.

The Company has guaranteed the repayment of a loan facility to Omnivest
Resources, Inc. a wholly owned subsidiary.  The Principal Balance of these
obligations is $3.374 million at September 30, 1996.

Note 5:   Business Combination and Changes in Majority Ownership

Effective June 1, 1996, AMERECO, Inc. completed a step transaction in which it
issued 3,186,118 shares of its common stock and received 100% of the common
stock of Omnivest Resources, Inc. (formerly Omnivest Resources, L.P.).  The
business combination is reported as a reverse purchase of AMERECO, Inc. by
Omnivest Resources, Inc.  Operations of Omnivest Resources, Inc. are reported
for all periods presented.  Operations for AMERECO, Inc. are reported from June
1, 1996, the reverse purchase date, through September 30, 1996.  The purchase
price approximated the fair value of the net assets acquired.
   



                          AMERECO, Inc.
            Notes to Financial Statements (continued)
                        September 30, 1996


Note 6: Related Party Transactions

The Officers of the Company have accrued salaries and expenses from 1988
through 1996.  The accrued salaries and expenses at September 30, 1996 were
$580,443.

Note 7: Leases

The Company currently leases office space on a month-to-month basis at the rate
of $2,851.53/month.  Rent expense for the three months ended September 30, 
1996 was $8,554.59.

Note 8: Income Taxes

The Company has loss carry-forward of $7,000,873 that may be offset against
future taxable income.  The carry-forward expires in 2010.

A deferred tax asset has not been reflected in the financial statements since
the realization of the benefit is not assured due to the Company's past
operating history.

Note 9:   Change in Accounting Method

During 1996, the Company changed its method of determining the cost of
inventory from First-in, first-out (FIFO) to the last-in, first-out (LIFO)
method.  The Company believes the LIFO method more closely relates current
costs with current revenue.  The effect of the change was to decrease the
loss before extraordinary items and net income for 1995 by $164,690 is a one
time credit to income.

                          AMERECO, Inc.
            Notes to Financial Statements (continued)
                       September 30, 1996

ITEM 2 

Management's Discussion and Analysis or Plan of Operations

The following is management's discussion and analysis of certain significant
factors that have affected the Company's financial condition and results of
operation during the periods included in the accompanying financial statements.

Results of Operations

AMERECO, Inc. was originally incorporated as Norcal Chemical Corporation on
October 16, 1974.  In January and April 1986, respectively, the Company
acquired a lightweight aggregate facility and a sand and gravel property. 
The business of the Company has been to manage the Partnership refurbishment
and start-up of the lightweight aggregate facility operation including
manufacturing and marketing of lightweight aggregate used in concrete block,
pre-stressed and pre-cast concrete, structural concrete, bridge floors,
highway surfaces and other uses.

Effective June 1, 1996, AMERECO, Inc. completed a step transaction in which it
issued 3,186,118 shares of its common stock and received 100% of the common 
stock of Omnivest Resources, Inc. (formerly Omnivest Resources, L.P.).  The
business combination is reported as a reverse purchase of AMERECO, Inc. by
Omnivest Resources, Inc.  Operations of Omnivest Resources, Inc. are reported
for all periods presented.  Operations for AMERECO, Inc. are reported from
June 1, 1996, the reverse purchase date, through September 30, 1996.

Nine Months Ended September 30, 1996 as Compared to the Nine Months Ended
September 30, 1995.

The company had operating revenue of $2,362,872 for the nine month period ended
September 30, 1996 as compared to $656,185 in 1995.  This revenue increase 
indicates the lightweight aggregate sales operation continues to expand and with
the expansion the related cost per unit will continue to decline.  The gross
profit percentage increased from 12% in September 1995 to 24% in September 1996
with sales increasing by 360%.  The Company anticipates the market and the 
demand for the product to continue to increase but not at the rate reflected 
above because of the start-up nature during the nine month period ended
September 30, 1996.

Operating expenses have decreased by 10% from $741,223 in 1995 to $669,360 in
1996.  The decrease is primarily due to administrative personnel becoming
involved in production with a portion of the salaries being allocated 
accordingly.

Interest expense declined from $396,640 in 1995 to $308,290 in 1996.  This 
decline was primarily due to the conversion of $1,216,000 in debt to equity.

Seasonal Effect on Operations

Due to the Company's lack of operating history, the Company has minimal 
historical data to calculate the seasonal affect on sales and production.  The
Company expects sales will experience some decline in growth of aggregate
demand due to weather conditions and holiday periods.  The primary months
that should be affected are November through February for the construction
industry.

Liquidity and Capital Resources

The Company had total assets of $17,862,232 at September 30, 1996 and 
$16,216,276 at December 31, 1995.  The Company's cash balance at September 30,
1996 was $175,551. The cash used by operations was primarily due to a necessary
increase in accounts receivable and inventory levels and was funded by
additional equity investment through the sale of limited partnership interests
which were converted to common stock on May 31, 1996.



                         AMERECO, INC.

                  PART II - OTHER INFORMATION

Item 1     Legal Proceedings

           None

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


                       Signatures

Pursuant to the requirement of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                       AMERECO, Inc.



Date: November 12, 1996   By:________________________________________-
                          Kenneth W. Tribbey
                          Executive Vice President and
                          Chief Financial Officer