| x   | Quarterly                report pursuant to Section 13 or 15 (d) of the Securities Exchange                Act of                1934 |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------|

| o   | Transition                report pursuant to Section 13 or 15 (d) of the Securities Exchange                Act of                1934 |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------|

**ADAMS      RESOURCES & ENERGY, INC.**

| Delaware                                                                                    |   | 74-1753147                                                        |
|---------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------|
| (State                or other jurisdiction ofincorporation                or organization) |   | (I.R.S.                EmployerIdentification                No.) |

| 4400                Post Oak Pkwy Ste 2700 , Houston, Texas 77027                    |
|--------------------------------------------------------------------------------------|
| (Address                of principal executive office & Zip                Code) |

----

**PART      1 - FINANCIAL INFORMATION**

**Item      1. Financial Statements**

**ADAMS      RESOURCES & ENERGY, INC. AND SUBSIDIARIES**

**UNAUDITED      CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(In      thousands, except per share data)**

|                                                                |   | Nine                Months Ended |      | Three                Months Ended |   |
|---------------------------------------------------------------------|--------|----------------------------------|-----------|-----------------------------------|--------|
|                                                                |   | September                30,     |      | September                30,      |   |
|                                                                |   | 2006                             |      | 2005                              |   | 2006 |   | 2005 |   |
| **REVENUES:**                                                       |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Marketing                                                      |   | $                                | 1,647,062 |                              | $      | 1,654,585 |   | $ | 604,977 |   | $ | 618,395 |   |
| Transportation                                                 |   |                             | 48,277    |                              |   | 41,765 |   |   | 16,180 |   |   | 13,867 |   |
| Oil                and gas                                     |   |                             | 12,687    |                              |   | 10,495 |   |   | 3,841 |   |   | 4,745 |   |
|                                                                |   |                             | 1,708,026 |                              |   | 1,706,845 |   |   | 624,998 |   |   | 637,007 |   |
| **COSTS                AND EXPENSES:**                              |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Marketing                                                 |   |                             | 1,636,839 |                              |   | 1,641,614 |   |   | 602,757 |   |   | 612,170 |   |
| Transportation                                                 |   |                             | 40,438    |                              |   | 35,401 |   |   | 13,719 |   |   | 11,814 |   |
| Oil                and gas                                     |   |                             | 3,761     |                              |   | 3,882 |   |   | 1,403 |   |   | 2,272 |   |
| General                and administrative                      |   |                             | 6,230     |                              |   | 6,494 |   |   | 2,110 |   |   | 1,959 |   |
| Depreciation,                depletion and amortization             |   |                             | 7,177     |                              |   | 5,113 |   |   | 2,741 |   |   | 1,723 |   |
|                                                                |   |                             | 1,694,445 |                              |   | 1,692,504 |   |   | 622,730 |   |   | 629,938 |   |
|                                                                |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Operating                earnings                              |   |                             | 13,581    |                              |   | 14,341 |   |   | 2,268 |   |   | 7,069 |   |
| Other                income (expense):                              |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Interest                income                                 |   |                             | 487       |                              |   | 116 |   |   | 238 |   |   | 57 |   |
| Interest                expense                                |   |                             | (112      | )                                 |   | (80 | ) |   | (40 | ) |   | (28 | ) |
| Earnings                from continuing operations                  |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| before                income taxes                             |   |                             | 13,956    |                              |   | 14,377 |   |   | 2,466 |   |   | 7,098 |   |
|                                                                |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Income                tax provision                            |   |                             | 4,597     |                              |   | 4,622 |   |   | 789 |   |   | 2,102 |   |
|                                                                |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Earnings                from continuing operations             |   |                             | 9,359     |                              |   | 9,755 |   |   | 1,677 |   |   | 4,996 |   |
| Income                from discontinued operations, net of tax      |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| provision                of zero, $143, zero and $155, respectively |   |                             | -         |                              |   | 279 |   |   | - |   |   | 301 |   |
| Net                earnings                                    |   | $                                | 9,359     |                              | $      | 10,034 |   | $ | 1,677 |   | $ | 5,297 |   |
|                                                                |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| **EARNINGS                PER SHARE:**                              |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| From                continuing operations                      |   | $                                | 2.22      |                              | $      | 2.31 |   | $ | .40 |   | $ | 1.19 |   |
| From                discontinued operation                     |   |                             | -         |                              |   | .07 |   |   | - |   |   | .07 |   |
| Basic                and diluted net earnings                       |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| per                common share                                |   | $                                | 2.22      |                              | $      | 2.38 |   | $ | .40 |   | $ | 1.26 |   |
|                                                                |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| **DIVIDENDS                PER COMMON SHARE**                  |   | $                                | -         |                              | $      | - |   | $ | - |   | $ | - |   |

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

----

**ADAMS      RESOURCES & ENERGY, INC. AND SUBSIDIARIES**

**UNAUDITED      CONDENSED CONSOLIDATED BALANCE SHEETS**

**(In      thousands)**

|                                                              |   | September                30, |    | December                31, |   |
|-------------------------------------------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                                                              |   | 2006                         |    | 2005                        |   |
| **ASSETS**                                                        |   |                         |    |                        |   |   |   |
|                                                              |   |                         |    |                        |   |   |   |
| Current                assets:                                    |   |                         |    |                        |   |   |   |
| Cash                and cash equivalents                     |   | $                            | 22,312  |                        | $      | 18,817 |   |
| Accounts                receivable, net of allowance for doubtful |   |                         |    |                        |   |   |   |
| accounts                of $670 and $608, respectively       |   |                         | 184,485 |                        |   | 217,727 |   |
| Inventories                                                  |   |                         | 8,863   |                        |   | 11,692 |   |
| Risk                management receivables                   |   |                         | 9,408   |                        |   | 13,324 |   |
| Income                tax receivables                        |   |                         | 2,293   |                        |   | 1,304 |   |
| Prepayments                                                  |   |                         | 3,612   |                        |   | 7,586 |   |
|                                                              |   |                         |    |                        |   |   |   |
| Total                current assets                          |   |                         | 230,973 |                        |   | 270,450 |   |
|                                                              |   |                         |    |                        |   |   |   |
| Property                and equipment                        |   |                         | 109,355 |                        |   | 98,861 |   |
| Less                - accumulated depreciation,                   |   |                         |    |                        |   |   |   |
| depletion                and amortization                    |   |                         | (65,860 | )                           |   | (58,965 | ) |
|                                                              |   |                         | 43,495  |                        |   | 39,896 |   |
| Other                assets:                                      |   |                         |    |                        |   |   |   |
| Risk                management assets                        |   |                         | 15      |                        |   | 47 |   |
| Other                assets                                  |   |                         | 2,913   |                        |   | 2,269 |   |
|                                                              |   | $                            | 277,396 |                        | $      | 312,662 |   |
|                                                              |   |                         |    |                        |   |   |   |
| **LIABILITIES                AND SHAREHOLDERS’ EQUITY**     |   |                         |    |                        |   |   |   |
|                                                              |   |                         |    |                        |   |   |   |
| Current                liabilities:                               |   |                         |    |                        |   |   |   |
| Accounts                payable                              |   | $                            | 178,279 |                        | $      | 213,668 |   |
| Risk                management payables                      |   |                         | 7,997   |                        |   | 11,542 |   |
| Accrued                and other liabilities                 |   |                         | 6,759   |                        |   | 4,790 |   |
| Current                deferred income taxes                 |   |                         | 13      |                        |   | 1,129 |   |
| Total                current liabilities                     |   |                         | 193,048 |                        |   | 231,129 |   |
|                                                              |   |                         |    |                        |   |   |   |
| Long-term                debt                                |   |                         | 3,000   |                        |   | 11,475 |   |
|                                                              |   |                         |    |                        |   |   |   |
| Other                liabilities:                                 |   |                         |    |                        |   |   |   |
| Asset                retirement obligations                  |   |                         | 1,112   |                        |   | 1,058 |   |
| Deferred                income taxes and other               |   |                         | 5,221   |                        |   | 3,296 |   |
| Risk                management liabilities                   |   |                         | -       |                        |   | 48 |   |
|                                                              |   |                         | 202,381 |                        |   | 247,006 |   |
| Commitments                and contingencies (Note 6)             |   |                         |    |                        |   |   |   |
|                                                              |   |                         |    |                        |   |   |   |
| Shareholders’                equity:                        |   |                         |    |                        |   |   |   |
| Preferred                stock - $1.00 par value, 960,000 shares  |   |                         |    |                        |   |   |   |
| authorized,                none outstanding                  |   |                         | -       |                        |   | - |   |
| Common                stock - $.10 par value, 7,500,000 shares    |   |                         |    |                        |   |   |   |
| authorized,                4,217,596 shares outstanding      |   |                         | 422     |                        |   | 422 |   |
| Contributed                capital                           |   |                         | 11,693  |                        |   | 11,693 |   |
| Retained                earnings                             |   |                         | 62,900  |                        |   | 53,541 |   |
| Total                shareholders’ equity              |   |                         | 75,015  |                        |   | 65,656 |   |
|                                                              |   | $                            | 277,396 |                        | $      | 312,662 |   |

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

----

**ADAMS      RESOURCES & ENERGY, INC. AND SUBSIDIARIES**

**UNAUDITED      CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(In      thousands)**

|                                                                    |   | Nine                Months Ended |    |
|-------------------------------------------------------------------------|--------|----------------------------------|---------|
|                                                                    |   | September                30,     |    |
|                                                                    |   | 2006                             |    | 2005 |   |
| CASH                PROVIDED BY OPERATIONS:                             |   |                             |    |   |   |   |   |
| Earnings                from continuing operations                 |   | $                                | 9,359   |   | $ | 9,755 |   |
| Adjustments                to reconcile net earnings to net cash        |   |                             |    |   |   |   |   |
| provided                by (used in) operating activities -             |   |                             |    |   |   |   |   |
| Depreciation,                depletion and amortization            |   |                             | 7,177   |   |   | 5,113 |   |
| Gains                on property sales                             |   |                             | (46     | ) |   | (1,044 | ) |
| Impairment                on non-producing oil and gas properties  |   |                             | 420     |   |   | 313 |   |
| Other,                net                                          |   |                             | (116    | ) |   | (151 | ) |
| Decrease                (increase) in accounts receivable     |   |                             | 33,242  |   |   | (43,852 | ) |
| Decrease                (increase) in inventories                  |   |                             | 2,829   |   |   | (2,127 | ) |
| Risk                management activities                          |   |                             | 355     |   |   | 17 |   |
| Decrease                (increase) in tax receivable               |   |                             | (989    | ) |   | - |   |
| Decrease                (increase) in prepayments                  |   |                             | 3,974   |   |   | 4,778 |   |
| Increase                (decrease) in accounts payable             |   |                             | (35,150 | ) |   | 39,474 |   |
| Increase                (decrease) in accrued liabilities          |   |                             | 1,969   |   |   | (539 | ) |
| Deferred                income taxes                               |   |                             | 750     |   |   | 85 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Net                cash provided by continuing operations          |   |                             | 23,774  |   |   | 11,979 |   |
| Net                cash provided by discontinued operations        |   |                             | -       |   |   | 180 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Net                cash provided by operating activities           |   |                             | 23,774  |   |   | 12,159 |   |
|                                                                    |   |                             |    |   |   |   |   |
| INVESTING                ACTIVITIES:                                    |   |                             |    |   |   |   |   |
| Property                and equipment additions                    |   |                             | (11,334 | ) |   | (8,415 | ) |
| Insurance                deposits                                       |   |                             | (530    | ) |   | (817 | ) |
| Proceeds                from property sales                        |   |                             | 60      |   |   | 1,191 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Net                cash used in continuing operations                   |   |                             | (11,804 | ) |   | (8,041 | ) |
| Proceeds                from sale of discontinued property              |   |                             | -       |   |   | 550 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Net                cash used in investing activities                    |   |                             | (11,804 | ) |   | (7,491 | ) |
|                                                                    |   |                             |    |   |   |   |   |
| FINANCING                ACTIVITIES:                                    |   |                             |    |   |   |   |   |
| Net                repayments under credit agreements              |   |                             | (8,475  | ) |   | - |   |
|                                                                    |   |                             |    |   |   |   |   |
| Net                cash used in financing activities               |   |                             | (8,475  | ) |   | - |   |
|                                                                    |   |                             |    |   |   |   |   |
| Increase                in cash and cash equivalents               |   |                             | 3,495   |   |   | 4,668 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Cash                at beginning of period                         |   |                             | 18,817  |   |   | 19,942 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Cash                at end of period                               |   | $                                | 22,312  |   | $ | 24,610 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Supplemental                disclosure of cash flow information:        |   |                             |    |   |   |   |   |
|                                                                    |   |                             |    |   |   |   |   |
| Interest                paid during the period                     |   | $                                | 112     |   | $ | 64 |   |
|                                                                    |   |                             |    |   |   |   |   |
| Income                taxes paid during the period                 |   | $                                | 4,842   |   | $ | 4,031 |   |

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

----

**ADAMS      RESOURCES & ENERGY, INC. AND SUBSIDIARIES**

**NOTES      TO UNAUDITED CONDENSED**

**CONSOLIDATED      FINANCIAL STATEMENTS**

*Principles      of Consolidation*

*Nature      of Operations*

*Cash      and Cash Equivalents*

*Inventories*

**in      thousands**

----

|                                    |   | September                30, |   | December                31, |   |
|-----------------------------------------|--------|------------------------------|--------|-----------------------------|--------|
|                                    |   | 2006                         |   | 2005                        |   |
|                                    |   |                         |   |                        |   |
| Crude                oil           |   | $                            | 6,766  |                        | $      | 9,924 |   |
| Petroleum                products  |   |                         | 2,097  |                        |   | 1,768 |   |
|                                    |   |                         |   |                        |   |   |   |
|                                    |   | $                            | 8,863  |                        | $      | 11,692 |   |

*Property      and Equipment*

*Other      Assets*

----

*Revenue      Recognition*

----

*Earnings      Per Share*

*Use      of Estimates*

*Price      Risk Management Activities*

**(in      thousands):**

|                                                                            |   | 2006   |   | 2005   |   |
|---------------------------------------------------------------------------------|--------|--------|--------|--------|--------|
| Net                fair value on January 1,                                |   | $      | 1,781  |   | $      | 630 |   |
| Activity                during the period                                       |   |   |   |   |   |   |   |
| -Cash                paid (received) from settled contracts                |   |   | (1,979 | )      |   | (890 | ) |
| -Net                realized gain from prior years’ contracts        |   |   | 360    |   |   | 308 |   |
| **-**Net                unrealized gain from prior years’ contracts  |   |   | -      |   |   | 5 |   |
| -Net                unrealized (loss) from prior years’ contracts         |   |   | (83    | )      |   | - |   |
| -Net                unrealized gain from current year contracts            |   |   | 1,347  |   |   | 403 |   |
| Net                fair value on September 30,                             |   | $      | 1,426  |   | $      | 456 |   |

*Asset      Retirement Obligations*

**in      thousands**

|                                                                                |   | 2006   |   | 2005   |   |
|-------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|
|                                                                                |   |   |   |   |   |
| Balance                on January 1,                                           |   | $      | 1,058  |   | $      | 723 |   |
|     -Liabilities                incurred                   |   |   | 22     |   |   | 23 |   |
|     -Accretion                of                discount   |   |   | 46     |   |   | 57 |   |
|     -Liabilities                settled                    |   |   | (14    | )      |   | (97 | ) |
|     -Revisions                to                estimates  |   |   | -      |   |   | - |   |
| Balance                on September 30,                                        |   | $      | 1,112  |   | $      | 706 |   |

----

*New      Accounting Pronouncements*

**in      thousands**

----

**-      Nine Month Comparison**

|                                           |   |     |      | Segment   |   | Depreciation                 |   | Property                and |   |
|------------------------------------------------|--------|----------|-----------|-----------|--------|------------------------------|--------|-----------------------------|--------|
|                                           |   |     |      | Operating |   | Depletion                and |   | Equipment                   |   |
|                                           |   | Revenues |      | Earnings  |   | Amortization                 |   | Additions                   |   |
| Period                Ended September 30, 2006 |   |     |      |      |   |                         |   |                        |   |   |   |   |   |
| Marketing                                      |   |     |      |      |   |                         |   |                        |   |   |   |   |   |
| -                Crude Oil                     |   | $        | 1,498,007 |      | $      | 3,568                        |   | $                           | 656    |   | $ | 1,324 |   |
| -                Natural gas                   |   |     | 9,632     |      |   | 4,340                        |   |                        | 44     |   |   | 326 |   |
| -                Refined products              |   |     | 139,423   |      |   | 1,325                        |   |                        | 290    |   |   | 1,000 |   |
| Marketing                Total                 |   |     | 1,647,062 |      |   | 9,233                        |   |                        | 990    |   |   | 2,650 |   |
| Transportation                                 |   |     | 48,277    |      |   | 4,472                        |   |                        | 3,367  |   |   | 1,186 |   |
| Oil                and gas                     |   |     | 12,687    |      |   | 6,106                        |   |                        | 2,820  |   |   | 7,498 |   |
|                                           |   | $        | 1,708,026 |      | $      | 19,811                       |   | $                           | 7,177  |   | $ | 11,334 |   |
| Period                Ended September 30, 2005 |   |     |      |      |   |                         |   |                        |   |   |   |   |   |
| Marketing                                      |   |     |      |      |   |                         |   |                        |   |   |   |   |   |
| -                Crude Oil                     |   | $        | 1,532,346 |      | $      | 8,543                        |   | $                           | 557    |   | $ | 71 |   |
| -                Natural gas                   |   |     | 6,527     |      |   | 3,352                        |   |                        | 43     |   |   | 12 |   |
| -                Refined products              |   |     | 115,712   |      |   | 124                          |   |                        | 352    |   |   | 161 |   |
| Marketing                Total                 |   |     | 1,654,585 |      |   | 12,019                       |   |                        | 952    |   |   | 244 |   |
| Transportation                                 |   |     | 41,765    |      |   | 4,225                        |   |                        | 2,139  |   |   | 3,836 |   |
| Oil                and gas                     |   |     | 10,495    |      |   | 4,591                        |   |                        | 2,022  |   |   | 4,335 |   |
|                                           |   | $        | 1,706,845 |      | $      | 20,835                       |   | $                           | 5,113  |   | $ | 8,415 |   |

**-      Three Month Comparison**

|                                           |   | Revenues |    | Segment                Operating Earnings (Loss) |   | Depreciation                Depletion and Amortization |   | Property                and Equipment Additions |   |
|------------------------------------------------|--------|----------|---------|--------------------------------------------------|--------|--------------------------------------------------------|--------|-------------------------------------------------|--------|
| Period                Ended September 30, 2006 |   |     |    |                                             |   |                                                   |   |                                            |   |   |   |   |   |
| Marketing                                      |   |     |    |                                             |   |                                                   |   |                                            |   |   |   |   |   |
| -                Crude Oil                     |   | $        | 550,879 |                                             | $      | (475                                                   | )      | $                                               | 217    |   | $ | 70 |   |
| -                Natural gas                   |   |     | 4,087   |                                             |   | 1,918                                                  |   |                                            | 15     |   |   | 106 |   |
| -                Refined products              |   |     | 50,011  |                                             |   | 447                                                    |   |                                            | 98     |   |   | 98 |   |
| Marketing                Total            |   |     | 604,977 |                                             |   | 1,890                                                  |   |                                            | 330    |   |   | 274 |   |
| Transportation                            |   |     | 16,180  |                                             |   | 1,327                                                  |   |                                            | 1,134  |   |   | 217 |   |
| Oil                and gas                |   |     | 3,841   |                                             |   | 1,161                                                  |   |                                            | 1,277  |   |   | 2,908 |   |
|                                           |   | $        | 624,998 |                                             | $      | 4,378                                                  |   | $                                               | 2,741  |   | $ | 3,399 |   |
| Period                Ended September 30, 2005 |   |     |    |                                             |   |                                                   |   |                                            |   |   |   |   |   |
| Marketing                                 |   |     |    |                                             |   |                                                   |   |                                            |   |   |   |   |   |
| -                Crude Oil                     |   | $        | 569,336 |                                             | $      | 3,555                                                  |   | $                                               | 185    |   | $ | 14 |   |
| -                Natural gas                   |   |     | 3,278   |                                             |   | 2,238                                                  |   |                                            | 14     |   |   | - |   |
| -                Refined products              |   |     | 45,781  |                                             |   | 121                                                    |   |                                            | 112    |   |   | 108 |   |
| Marketing                Total                 |   |     | 618,395 |                                             |   | 5,914                                                  |   |                                            | 311    |   |   | 122 |   |
| Transportation                            |   |     | 13,867  |                                             |   | 1,231                                                  |   |                                            | 822    |   |   | 1,415 |   |
| Oil                and gas                |   |     | 4,745   |                                             |   | 1,883                                                  |   |                                            | 590    |   |   | 715 |   |
|                                           |   | $        | 637,007 |                                             | $      | 9,028                                                  |   | $                                               | 1,723  |   | $ | 2,252 |   |

----

**(in      thousands)**

|                              |   | September                30, |    | December                31, |   |
|-----------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                              |   | 2006                         |    | 2005                        |   |
| Marketing                    |   |                         |    |                        |   |   |   |
| -                Crude oil        |   | $                            | 130,292 |                        | $      | 145,097 |   |
| -                Natural gas      |   |                         | 49,703  |                        |   | 75,741 |   |
| -                Refined products |   |                         | 18,552  |                        |   | 19,471 |   |
| Marketing                Total    |   |                         | 198,547 |                        |   | 240,309 |   |
| Transportation               |   |                         | 25,576  |                        |   | 28,412 |   |
| Oil                and gas   |   |                         | 24,520  |                        |   | 20,780 |   |
| Other                        |   |                         | 28,753  |                        |   | 23,161 |   |
|                              |   | $                            | 277,396 |                        | $      | 312,662 |   |

**(in      thousands)**

|                                               |   | Nine                months ended |   | Three                months ended |   |
|----------------------------------------------------|--------|----------------------------------|--------|-----------------------------------|--------|
|                                               |   | September                30,     |   | September                30,      |   |
|                                               |   | 2006                             |   | 2005                              |   | 2006 |   | 2005 |   |
| Segment                operating earnings          |   | $                                | 19,811 |                              | $      | 20,835 |   | $ | 4,378 |   | $ | 9,028 |   |
| -                General and administrative        |   |                             | (6,230 | )                                 |   | (6,494 | ) |   | (2,110 | ) |   | (1,959 | ) |
| Operating                earnings                  |   |                             | 13,581 |                              |   | 14,341 |   |   | 2,268 |   |   | 7,069 |   |
| -                Interest income                   |   |                             | 487    |                              |   | 116 |   |   | 238 |   |   | 57 |   |
| -                Interest expense                  |   |                             | (112   | )                                 |   | (80 | ) |   | (40 | ) |   | (28 | ) |
| Earnings                from continuing operations |   |                             |   |                              |   |   |   |   |   |   |   |   |   |
| Before                income taxes                 |   | $                                | 13,956 |                              | $      | 14,377 |   | $ | 2,466 |   | $ | 7,098 |   |

----

*Le      Petit Chateau De Luxe, et. al. vs Great Southern Oil &*
*Gas      Co., et. al*

**(in      thousands):**

|                                 |   | 2006 |   | 2007   |   | 2008 |   | 2009 |   | 2010   |   | Thereafter |   | Total |   |
|--------------------------------------|--------|------|--------|--------|--------|------|--------|------|--------|--------|--------|------------|--------|-------|--------|
| Lease                residual values |   | $    | -      |   | $      | -    |   | $    | 304    |   | $      | 1,475      |   | $     | 217    |   | $ | 469 |   | $ | 2,465 |   |

----

**in      thousands):**

|                                       |   | 2006   |   | 2007   |   | 2008  |   | 2009   |   | 2010   |   | Thereafter |   | Total  |   |
|--------------------------------------------|--------|--------|--------|--------|--------|-------|--------|--------|--------|--------|--------|------------|--------|--------|--------|
| Bank                debt              |   | $      | -      |   | $      | 375   |   | $      | 1,500  |   | $      | 1,125      |   | $      | -      |   | $ | - |   | $ | 3,000 |   |
| Operating                leases       |   |   | 1,035  |   |   | 4,060 |   |   | 3,861  |   |   | 1,539      |   |   | 548    |   |   | 290 |   |   | 11,332 |   |
| Lease                residual values  |   |   | -      |   |   | -     |   |   | 304    |   |   | 1,475      |   |   | 217    |   |   | 469 |   |   | 2,465 |   |
| Commodity                purchases    |   |   | 30,570 |   |   | -     |   |   | -      |   |   | -          |   |   | -      |   |   | - |   |   | 30,570 |   |
| Letters                of credit      |   |   | 45,857 |   |   | -     |   |   | -      |   |   | -          |   |   | -      |   |   | - |   |   | 45,857 |   |
|                                       |   | $      | 77,462 |   | $      | 4,435 |   | $      | 5,665  |   | $      | 4,139      |   | $      | 765    |   | $ | 759 |   | $ | 93,225 |   |

----

|   | - | *Marketing* |
|--------|---|-------------|

**in      thousands**

|                                    |   | Nine                Months Ended |      | Three                Months Ended |   |
|-----------------------------------------|--------|----------------------------------|-----------|-----------------------------------|--------|
|                                    |   | September                30,     |      | September                30,      |   |
|                                    |   | 2006                             |      | 2005                              |   | 2006 |   | 2005 |   |
| Revenues                           |   | $                                | 1,647,062 |                              | $      | 1,654,585 |   | $ | 604,977 |   | $ | 618,395 |   |
|                                    |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Operating                earnings  |   | $                                | 9,233     |                              | $      | 12,019 |   | $ | 1,890 |   | $ | 5,914 |   |
|                                    |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Depreciation                       |   | $                                | 990       |                              | $      | 952 |   | $ | 330 |   | $ | 311 |   |

**in      thousands**

|                                                                       |   | Nine                Months Ended |      | Three                Months Ended |   |
|----------------------------------------------------------------------------|--------|----------------------------------|-----------|-----------------------------------|--------|
|                                                                       |   | September                30,     |      | September                30,      |   |
|                                                                       |   | 2006                             |      | 2005                              |   | 2006 |   | 2005 |   |
|                                                                       |   |                             |      |                              |   |   |   |   |   |
| Crude                oil sales, net of proceeds from buy/sell arrangements |   | $                                | 1,498,007 |                              | $      | 999,944 |   | $ | 550,879 |   | $ | 376,187 |   |
| Crude                oil sales proceeds from buy/sell arrangements         |   |                             | -         |                              |   | 532,402 |   |   | - |   |   | 193,149 |   |
| Natural                gas sales                                           |   |                             | 9,632     |                              |   | 6,527 |   |   | 4,087 |   |   | 3,278 |   |
| Refined                product sales                                       |   |                             | 139,423   |                              |   | 115,712 |   |   | 50,011 |   |   | 45,781 |   |
|                                                                       |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Total                Reported Marketing Revenues                           |   | $                                | 1,647,062 |                              | $      | 1,654,585 |   | $ | 604,977 |   | $ | 618,395 |   |

----

|                                                      |   | Nine                Months Ended |    | Three                Months Ended |   |
|-----------------------------------------------------------|--------|----------------------------------|---------|-----------------------------------|--------|
|                                                      |   | September                30,     |    | September                30,      |   |
|                                                      |   | 2006                             |    | 2005                              |   | 2006 |   | 2005 |   |
| Field                Level Purchase Volumes - Per day (1) |   |                             |    |                              |   |   |   |   |   |   |   |   |   |
| Crude                oil - barrels                        |   |                             | 62,950  |                              |   | 67,600 |   |   | 57,621 |   |   | 63,000 |   |
| Natural                gas - mmbtu’s                |   |                             | 342,400 |                              |   | 299,000 |   |   | 356,100 |   |   | 269,000 |   |
|                                                      |   |                             |    |                              |   |   |   |   |   |   |   |   |   |
| Average                Purchase Price                     |   |                             |    |                              |   |   |   |   |   |   |   |   |   |
| Crude                oil - per barrel                     |   | $                                | 64.52   |                              | $      | 52.21 |   | $ | 66.77 |   | $ | 59.72 |   |
| Natural                Gas - per mmbtu’s            |   | $                                | 6.70    |                              | $      | 7.01 |   | $ | 6.14 |   | $ | 8.53 |   |

**in      thousands**

|                            |   | Nine                Months Ended |   | Three                Months Ended |   |
|---------------------------------|--------|----------------------------------|--------|-----------------------------------|--------|
|                            |   | September                30,     |   | September                30,      |   |
|                            |   | 2006                             |   | 2005                              |   | 2006 |   | 2005 |   |
|                            |   |                             |   |                              |   |   |   |   |   |
| Crude                Oil        |   | $                                | 3,568  |                              | $      | 8,543 |   | $ | (475 | ) | $ | 3,555 |   |
| Natural                Gas      |   |                             | 4,340  |                              |   | 3,352 |   |   | 1,918 |   |   | 2,238 |   |
| Refined                Products |   |                             | 1,325  |                              |   | 124 |   |   | 447 |   |   | 121 |   |
|                            |   | $                                | 9,233  |                              | $      | 12,019 |   | $ | 1,890 |   | $ | 5,914 |   |

----

|   | - | *Transportation* |
|--------|---|------------------|

**in      thousands**

|                                    |   | Nine                Months Ended |   |   |   | Three                Months Ended |   |   |   |
|-----------------------------------------|--------|----------------------------------|--------|--------|--------|-----------------------------------|--------|--------|--------|
|                                    |   | September                30,     |   |   |   | September                30,      |   |   |   |
|                                    |   | 2006                             |   | 2005   |   | Increase                          |   | 2006   |   | 2005 |   | Increase |   |
|                                    |   |                             |   |   |   |                              |   |   |   |   |   |   |   |
| Revenues                           |   | $                                | 48,277 |   | $      | 41,765                            |   |   | 16     | % | $ | 16,180 |   | $ | 13,867 |   |   | 17 | % |
|                                    |   |                             |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                earnings  |   | $                                | 4,472  |   | $      | 4,225                             |   |   | 6      | % | $ | 1,327 |   | $ | 1,231 |   |   | 8 | % |
|                                    |   |                             |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                       |   | $                                | 3,367  |   | $      | 2,139                             |   |   | 57     | % | $ | 1,134 |   | $ | 822 |   |   | 38 | % |

|   | -* * | *Oil                and Gas* |
|--------|-----------|------------------------------|

**in      thousands**
**:**

----

|                                            |   | Nine                Months Ended |   |   |   | Three                Months Ended |   |     |   |
|-------------------------------------------------|--------|----------------------------------|--------|--------|--------|-----------------------------------|--------|----------|--------|
|                                            |   | September                30,     |   |   |   | September                30,      |   | Increase |   |
|                                            |   | 2006                             |   | 2005   |   | Increase                          |   | 2006     |   | 2005 |   | (Decrease) |   |
| Revenues                                   |   | $                                | 12,687 |   | $      | 10,495                            |   |     | 21     | % | $ | 3,841 |   | $ | 4,745 |   |   | (19 | %) |
|                                            |   |                             |   |   |   |                              |   |     |   |   |   |   |   |   |   |   |   |   |   |
| Operating                earnings          |   | $                                | 6,106  |   | $      | 4,591                             |   |     | 33     | % | $ | 1,161 |   | $ | 1,883 |   |   | (38 | %) |
|                                            |   |                             |   |   |   |                              |   |     |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                and depletion  |   | $                                | 2,820  |   | $      | 2,022                             |   |     | 39     | % | $ | 1,277 |   | $ | 590 |   |   | 116 | % |

|                                          |   | Nine                Months Ended |      | Three                Months Ended |   |
|-----------------------------------------------|--------|----------------------------------|-----------|-----------------------------------|--------|
|                                          |   | September                30,     |      | September                30,      |   |
|                                          |   | 2006                             |      | 2005                              |   | 2006 |   | 2005 |   |
| Crude                Oil                      |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Volume                - barrels          |   |                             | 56,650    |                              |   | 51,300 |   |   | 17,080 |   |   | 19,700 |   |
| Average                price per barrel  |   | $                                | 66.01     |                              | $      | 53.09 |   | $ | 69.45 |   | $ | 59.99 |   |
|                                          |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Natural                gas                    |   |                             |      |                              |   |   |   |   |   |   |   |   |   |
| Volume                - mcf              |   |                             | 1,175,300 |                              |   | 1,048,000 |   |   | 379,750 |   |   | 432,000 |   |
| Average                price per mcf     |   | $                                | 7.61      |                              |   | 7.41 |   | $ | 6.99 |   | $ | 8.23 |   |

----

*-*
*Income      tax*

*Discontinued      operations*

*-*
*Outlook*

**(in      thousands):**

|                                                                     |   | Nine                Months Ended |    |
|--------------------------------------------------------------------------|--------|----------------------------------|---------|
|                                                                     |   | September                30,     |    |
|                                                                     |   | 2006                             |    | 2005 |   |
| Earnings                from continuing operations                  |   | $                                | 9,359   |   | $ | 9,755 |   |
| Depreciation,                depletion and amortization             |   |                             | 7,177   |   |   | 5,113 |   |
| Property                and equipment additions                     |   |                             | (11,334 | ) |   | (8,415 | ) |
| Repayments                under credit agreements                        |   |                             | (8,475  | ) |   | - |   |
|                                                                     |   |                             |    |   |   |   |   |
| Cash                available for (sourced from) other activities   |   | $                                | (3,273  | ) | $ | 6,453 |   |

----

*-      Banking Relationships*

----

*Fair      Value Accounting*

| 1.   | Gross                margins, derived from certain aspects of the Company’s ongoing business,                are front-ended into the period in which contracts are executed.                Meanwhile, personnel and other costs associated with servicing accounts                as                well as substantially all risks associated with the execution of                contracts                are expensed as incurred during the period of physical product flow                and                title passage. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | Mark-to-market                earnings are calculated based on stated contract volumes. A significant                risk associated with the Company’s business is the conversion of stated                contract or planned volumes into actual physical commodity movement                volumes without a loss of margin. Again the planned profit from such                commodity contracts is bunched and front-ended into one period while                the                risk of loss associated with the difference between actual versus                planned                production or usage volumes falls in a subsequent                period. |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | Cash                flows, by their nature, match physical movements and passage of title.                Mark-to-market accounting, on the other hand, creates a divergence                between                reported earnings and cash flows. Management believes this complicates                the                picture of stated financial conditions and                liquidity. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

*-*
*Trade      Accounts*

----

*-*
*Oil      and Gas Reserve Estimate*

*-*
*Contingencies*

*Le      Petit Chateau De Luxe, et. al. vs Great Southern Oil &*
*Gas      Co., et. al*

----

|   | *-* | *Interest                Rate Risk* |
|--------|-----|-------------------------------------|

|   | *-* | *Commodity                Price Risk* |
|--------|-----|---------------------------------------|

----

**in      thousands**

|                                                                          |   | 2006   |   | 2005   |   |
|-------------------------------------------------------------------------------|--------|--------|--------|--------|--------|
| Net                fair value on January 1,                              |   | $      | 1,781  |   | $      | 630 |   |
| Activity                during the period                                     |   |   |   |   |   |   |   |
| -                Cash received from settled contracts                    |   |   | (1,979 | )      |   | (890 | ) |
| -                Net realized gain from prior years’ contracts     |   |   | 360    |   |   | 308 |   |
| -                Net unrealized gain from prior years’ contracts   |   |   | -      |   |   | 5 |   |
| -                Net unrealized (loss) from prior years’ contracts      |   |   | (83    | )      |   | - |   |
| -                Net unrealized gain from current year contracts         |   |   | 1,347  |   |   | 403 |   |
| -                Net fair value on September 30,                         |   | $      | 1,426  |   | $      | 456 |   |

----

----

**PART      II. OTHER INFORMATION**

*Le      Petit Chateau De Luxe, et. al. vs Great Southern Oil &*
*Gas      Co., et. al*

----

| 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 |
|   |                                                                                                                             |
| 32.1   | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                of 2002     |
|   |                                                                                                                             |
| 32.2   | Certification                of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 |
|   |                                                                                                                             |

|                                   | ADAMS                RESOURCES & ENERGY, INC       |
|----------------------------------------|--------------------------------------------------------|
|                                   | (Registrant)                                           |
|                                   |                                                   |
|                                   |                                                   |
|                                   |                                                   |
| Date:                November 14, 2006 | By                /s/K.                S. Adams, Jr.   |
|                                   | K.                S. Adams, Jr.                        |
|                                   | Chief                Executive Officer                 |
|                                   |                                                   |
|                                   |                                                   |
|                                   | By                /s/Frank                T. Webster   |
|                                   | Frank                T. Webster                        |
|                                   | President                & Chief Operating Officer |
|                                   |                                                   |
|                                   |                                                   |
|                                   | By                /s/Richard                B. Abshire |
|                                   | Richard                B. Abshire                      |
|                                   | Chief                Financial Officer                 |

----

**EXHIBIT      INDEX**

| Exhibit |                                                                                                                           |
|---------|--------------------------------------------------------------------------------------------------------------------------------|
| Number  | Description                                                                                                                    |
|    |                                                                                                                           |
| 31.1    | Certificate                of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 |
|    |                                                                                                                           |
| 31.2    | Certificate                of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 |
|    |                                                                                                                           |
| 32.1    | Certificate                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 |
|    |                                                                                                                           |
| 32.2    | Certificate                of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 |