----

| 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)**

|                                                                                                                                                                                    |   | Six                  Months Ended |      |   | Three                  Months Ended |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|-----------|--------|-------------------------------------|--------|
|                                                                                                                                                                                    |   | June                    30,       |      |   | June                    30,         |   |
|                                                                                                                                                                                    |   | 2007                              |      |   | 2006                                |   |   | 2007 |   |   | 2006 |   |
| **REVENUES:**                                                                                                                                                                           |   |                              |      |   |                                |   |   |   |   |   |   |   |
| Marketing                                                                                                                                                                               |   | $                                 | 1,017,489 |   |                                | $      | 1,042,085 |   |   | $ | 548,348 |   |   | $ | 573,597 |   |
| Transportation                                                                                                                                                                          |   |                              | 31,646    |   |                                |   | 32,097 |   |   |   | 17,844 |   |   |   | 17,156 |   |
| Oil                  and gas                                                                                                                                                            |   |                              | 6,979     |   |                                |   | 8,846 |   |   |   | 3,556 |   |   |   | 4,247 |   |
|                                                                                                                                                                                    |   |                              | 1,056,114 |   |                                |   | 1,083,028 |   |   |   | 569,748 |   |   |   | 595,000 |   |
| **COSTS                  AND EXPENSES:**                                                                                                                                                |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Marketing                              |   |                              | 1,008,461 |   |                                |   | 1,034,082 |   |   |   | 542,812 |   |   |   | 569,552 |   |
| Transportation                                                                                                                                                                          |   |                              | 26,248    |   |                                |   | 26,719 |   |   |   | 14,339 |   |   |   | 14,073 |   |
| Oil                  and gas operations                                                                                                                                                 |   |                              | 5,111     |   |                                |   | 2,358 |   |   |   | 2,223 |   |   |   | 1,161 |   |
| Oil                  and gas property sale                                                                                                                                              |   |                              | (12,078   | )      |                                |   | - |   |   |   | (12,078 | ) |   |   | - |   |
| General                  and administrative                                                                                                                                             |   |                              | 5,184     |   |                                |   | 4,120 |   |   |   | 2,582 |   |   |   | 2,004 |   |
| Depreciation,                  depletion and amortization                                                                                                                               |   |                              | 4,766     |   |                                |   | 4,436 |   |   |   | 2,275 |   |   |   | 2,394 |   |
|                                                                                                                                                                                    |   |                              | 1,037,692 |   |                                |   | 1,071,715 |   |   |   | 552,153 |   |   |   | 589,184 |   |
|                                                                                                                                                                                    |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Operating                  earnings                                                                                                                                                     |   |                              | 18,422    |   |                                |   | 11,313 |   |   |   | 17,595 |   |   |   | 5,816 |   |
| Other                  income (expense):                                                                                                                                                |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  income                                                                                                                                                        |   |                              | 823       |   |                                |   | 249 |   |   |   | 456 |   |   |   | 164 |   |
| Interest                  expense                                                                                                                                                       |   |                              | (63       | )      |                                |   | (72 | ) |   |   | (32 | ) |   |   | (44 | ) |
| Earnings                  before income taxes                                                                                                                                           |   |                              | 19,182    |   |                                |   | 11,490 |   |   |   | 18,019 |   |   |   | 5,936 |   |
|                                                                                                                                                                                    |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Income                  tax provision                                                                                                                                                   |   |                              | 6,984     |   |                                |   | 3,808 |   |   |   | 6,733 |   |   |   | 1,898 |   |
|                                                                                                                                                                                    |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Net                  earnings                                                                                                                                                           |   | $                                 | 12,198    |   |                                | $      | 7,682 |   |   |   | 11,286 |   |   | $ | 4,038 |   |
|                                                                                                                                                                                    |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| **EARNINGS                  PER SHARE:**                                                                                                                                                |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Basic                  and diluted net earnings                                                                                                                                         |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| per                  common share                                                                                                                                                       |   | $                                 | 2.89      |   |                                | $      | 1.82 |   |   | $ | 2.67 |   |   | $ | .96 |   |
|                                                                                                                                                                                    |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| **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)**

|                                                                |   | June                  30, |    |   | December                  31, |   |
|---------------------------------------------------------------------|--------|---------------------------|---------|--------|-------------------------------|--------|
|                                                                |   | 2007                      |    |   | 2006                          |   |
| **ASSETS**                                                          |   |                      |    |   |                          |   |
|                                                                |   |                      |    |   |                          |   |
| Current                  assets:                                    |   |                      |    |   |                          |   |
| Cash                  and cash equivalents                          |   | $                         | 21,811  |   |                          | $      | 20,668 |   |
| Accounts                  receivable, net of allowance for doubtful |   |                      |    |   |                          |   |   |   |
| accounts                  of $303 and $225, respectively            |   |                      | 199,469 |   |                          |   | 194,097 |   |
| Inventories                                                         |   |                      | 13,047  |   |                          |   | 7,950 |   |
| Risk                  management receivables                        |   |                      | 6,788   |   |                          |   | 13,140 |   |
| Income                  tax receivables                             |   |                      | 1,021   |   |                          |   | 1,396 |   |
| Prepayments                                                         |   |                      | 12,722  |   |                          |   | 4,539 |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| Total                  current assets                               |   |                      | 254,858 |   |                          |   | 241,790 |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| Property                  and equipment                             |   |                      | 107,904 |   |                          |   | 107,221 |   |
| Less                  – accumulated depreciation,             |   |                      |    |   |                          |   |   |   |
| Depletion                  and amortization                         |   |                      | (65,781 | )      |                          |   | (63,905 | ) |
|                                                                |   |                      | 42,123  |   |                          |   | 43,316 |   |
| Other                  assets:                                      |   |                      |    |   |                          |   |   |   |
| Risk                  management receivables                        |   |                      | 2,250   |   |                          |   | 644 |   |
| Other                  assets                                       |   |                      | 3,715   |   |                          |   | 3,537 |   |
|                                                                |   | $                         | 302,946 |   |                          | $      | 289,287 |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| **LIABILITIES                  AND SHAREHOLDERS’ EQUITY**     |   |                      |    |   |                          |   |   |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| Current                  liabilities:                               |   |                      |    |   |                          |   |   |   |
| Accounts                  payable                                   |   | $                         | 198,131 |   |                          | $      | 185,735 |   |
| Risk                  management payables                           |   |                      | 5,753   |   |                          |   | 11,897 |   |
| Accrued                  and other liabilities                      |   |                      | 4,094   |   |                          |   | 7,897 |   |
| Current                  deferred income taxes                      |   |                      | 1,121   |   |                          |   | 1,053 |   |
| Total                  current liabilities                          |   |                      | 209,099 |   |                          |   | 206,582 |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| Long-term                  debt                                     |   |                      | -       |   |                          |   | 3,000 |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| Other                  liabilities:                                 |   |                      |    |   |                          |   |   |   |
| Asset                  retirement obligations                       |   |                      | 1,158   |   |                          |   | 1,152 |   |
| Deferred                  income taxes and other                    |   |                      | 4,431   |   |                          |   | 3,762 |   |
| Risk                  management payables                           |   |                      | 1,692   |   |                          |   | 423 |   |
|                                                                |   |                      | 216,380 |   |                          |   | 214,919 |   |
| Commitments                  and contingencies (Note 5)             |   |                      |    |   |                          |   |   |   |
|                                                                |   |                      |    |   |                          |   |   |   |
| 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                                  |   |                      | 74,451  |   |                          |   | 62,253 |   |
| Total                  shareholders’ equity                   |   |                      | 86,566  |   |                          |   | 74,368 |   |
|                                                                |   | $                         | 302,946 |   |                          | $      | 289,287 |   |

*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)**

|                                                                 |   | Six                  Months Ended |    |
|----------------------------------------------------------------------|--------|-----------------------------------|---------|
|                                                                 |   | June                    30,       |    |
|                                                                 |   | 2007                              |    |   | 2006 |   |
| CASH                  PROVIDED BY OPERATIONS:                        |   |                              |    |   |   |   |
| Net                  earnings                                        |   | $                                 | 12,198  |   |   | $ | 7,682 |   |
| Adjustments                  to reconcile net earnings to net cash   |   |                              |    |   |   |   |   |   |
| from                  operating activities -                         |   |                              |    |   |   |   |   |   |
| Depreciation,                  depletion and amortization            |   |                              | 4,766   |   |   |   | 4,436 |   |
| Gains                  on property sales                             |   |                              | (12,034 | ) |   |   | (32 | ) |
| Impairment                  on oil and gas properties                |   |                              | 409     |   |   |   | 389 |   |
| Other,                  net                                          |   |                              | 169     |   |   |   | (66 | ) |
| Decrease                  (increase) in accounts receivable          |   |                              | (5,372  | ) |   |   | 3,388 |   |
| Decrease                  (increase) in inventories                  |   |                              | (5,097  | ) |   |   | 464 |   |
| Risk                  management activities                          |   |                              | (129    | ) |   |   | 601 |   |
| Decrease                  (increase) in tax receivable               |   |                              | 375     |   |   |   | (727 | ) |
| Decrease                  (increase) in prepayments                  |   |                              | (8,183  | ) |   |   | 2,894 |   |
| Increase                  (decrease) in accounts payable             |   |                              | 12,259  |   |   |   | (5,866 | ) |
| Increase                  (decrease) in accrued liabilities          |   |                              | (3,803  | ) |   |   | (816 | ) |
| Deferred                  income taxes                               |   |                              | 746     |   |   |   | 1,130 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Net                  cash provided by (used in) operating activities |   |                              | (3,696  | ) |   |   | 13,477 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| INVESTING                  ACTIVITIES:                               |   |                              |    |   |   |   |   |   |
| Property                  and equipment additions                    |   |                              | (7,130  | ) |   |   | (7,935 | ) |
| Insurance                  deposits                                  |   |                              | (350    | ) |   |   | (530 | ) |
| Proceeds                  from property sales                        |   |                              | 15,319  |   |   |   | 32 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Net                  cash provided by (used in) investing activities |   |                              | 7,839   |   |   |   | (8,433 | ) |
|                                                                 |   |                              |    |   |   |   |   |   |
| FINANCING                  ACTIVITIES:                               |   |                              |    |   |   |   |   |   |
| Net                  repayments under credit agreements              |   |                              | (3,000  | ) |   |   | (1,975 | ) |
|                                                                 |   |                              |    |   |   |   |   |   |
| Net                  cash used in financing activities               |   |                              | (3,000  | ) |   |   | (1,975 | ) |
|                                                                 |   |                              |    |   |   |   |   |   |
| Increase                  in cash and cash equivalents               |   |                              | 1,143   |   |   |   | 3,069 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Cash                  at beginning of period                         |   |                              | 20,668  |   |   |   | 18,817 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Cash                  at end of period                               |   | $                                 | 21,811  |   |   | $ | 21,886 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Supplemental                  disclosure of cash flow information:   |   |                              |    |   |   |   |   |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Interest                  paid during the period                     |   | $                                 | 67      |   |   | $ | 74 |   |
|                                                                 |   |                              |    |   |   |   |   |   |
| Income                  taxes paid during the period                 |   | $                                 | 5,373   |   |   | $ | 3,232 |   |

----

**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**

|                                |   | June                  30, |   |   | December                  31, |   |
|-------------------------------------|--------|---------------------------|--------|--------|-------------------------------|--------|
|                                |   | 2007                      |   |   | 2006                          |   |
|                                |   |                      |   |   |                          |   |
| Crude                  oil          |   | $                         | 11,043 |   |                          | $      | 5,983 |   |
| Petroleum                  products |   |                      | 2,004  |   |                          |   | 1,967 |   |
|                                |   |                      |   |   |                          |   |   |   |
|                                |   | $                         | 13,047 |   |                          | $      | 7,950 |   |

----

*Property        and Equipment*

*Other        Assets*

----

*Revenue        Recognition*

*Earnings        Per Share*

----

*Share-Based        Payments*

*Use        of Estimates*

*Price        Risk Management Activities*

**(in thousands):**

----

|                                                                      | 2007                     | 2006    |
|---------------------------------------------------------------------------|--------------------------|---------|
| Net                  fair value on January 1,                             | $                  1,464 | $1,781  |
| Activity                  during the period                               |                     |    |
| -Cash                  paid (received) from settled contracts             | (874)                    | (1,455) |
| -Net                  realized gain from prior years’ contracts     | -                        | 258     |
| -Net                  realized (loss) from prior years’ contracts   | (62)                     | -       |
| -Net                  unrealized (loss) from prior years’ contracts | (110)                    | (62)    |
| -Net                  unrealized gain from current year contracts         | 1,175                    | 658     |
| Net                  fair value on June 30,                               | $1,593                   | $1,180  |

*Asset        Retirement Obligations*

|                                                       | 2007                       | 2006                       |
|------------------------------------------------------------|----------------------------|----------------------------|
|                                                       |                       |                       |
| Balance                  on January 1,                     | $1,152                     | $1,058                     |
|    -Liabilities                  incurred   | 33                         | 24                         |
|    -Accretion                  of discount  | 68                         | 36                         |
|    -Liabilities                  settled    | (95)                       | -                          |
|    -Revisions                  to estimates | -                          | -                          |
| Balance                  on June 30,                       | $                    1,158 | $                    1,118 |

*New        Accounting Pronouncements*

* *

----

|                        | Earliest                  Open |
|-----------------------------|--------------------------------|
|                        | Tax                  Year      |
|                        |                           |
| Federal                     | 2004                           |
| Texas                       | 2002                           |
| Louisiana                   | 1999                           |
| Michigan                    | 2002                           |
| Mississippi                 | 2002                           |
| Alabama                     | 2002                           |
| New                  Mexico | 2002                           |

*,*

*.  *

----

**in        thousands**

|                                        |   |     |      |   | Segment   |   |   | Depreciation                   |   |   | Property                  and |   |
|---------------------------------------------|--------|----------|-----------|--------|-----------|--------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                        |   |     |      |   | Operating |   |   | Depletion                  and |   |   | Equipment                     |   |
|                                        |   | Revenues |      |   | Earnings  |   |   | Amortization                   |   |   | Additions                     |   |
| Period                  Ended June 30, 2007 |   |     |      |   |      |   |   |                           |   |   |                          |   |
| Marketing                                   |   |     |      |   |      |   |   |                           |   |   |                          |   |
| -                  Crude Oil                |   | $        | 932,727   |   |      | $      | 5,661  |                           |   | $      | 307                           |   |   | $ | 427 |   |
| -                  Natural gas              |   |     | 6,668     |   |      |   | 2,492  |                           |   |   | 70                            |   |   |   | 52 |   |
| -                  Refined products         |   |     | 78,094    |   |      |   | 286    |                           |   |   | 212                           |   |   |   | 268 |   |
| Marketing                  Total            |   |     | 1,017,489 |   |      |   | 8,439  |                           |   |   | 589                           |   |   |   | 747 |   |
| Transportation                              |   |     | 31,646    |   |      |   | 3,159  |                           |   |   | 2,239                         |   |   |   | 159 |   |
| Oil                  and gas                |   |     | 6,979     |   |      |   | 12,008 |                           |   |   | 1,938                         |   |   |   | 6,224 |   |
|                                        |   | $        | 1,056,114 |   |      | $      | 23,606 |                           |   | $      | 4,766                         |   |   | $ | 7,130 |   |
| Period                  Ended June 30, 2006 |   |     |      |   |      |   |   |                           |   |   |                          |   |   |   |   |   |
| Marketing                                   |   |     |      |   |      |   |   |                           |   |   |                          |   |   |   |   |   |
| -                  Crude Oil                |   | $        | 947,128   |   |      | $      | 4,043  |                           |   | $      | 439                           |   |   | $ | 1,254 |   |
| -                  Natural gas              |   |     | 5,545     |   |      |   | 2,422  |                           |   |   | 29                            |   |   |   | 220 |   |
| -                  Refined products         |   |     | 89,412    |   |      |   | 878    |                           |   |   | 192                           |   |   |   | 902 |   |
| Marketing                  Total            |   |     | 1,042,085 |   |      |   | 7,343  |                           |   |   | 660                           |   |   |   | 2,376 |   |
| Transportation                              |   |     | 32,097    |   |      |   | 3,145  |                           |   |   | 2,233                         |   |   |   | 969 |   |
| Oil                  and gas                |   |     | 8,846     |   |      |   | 4,945  |                           |   |   | 1,543                         |   |   |   | 4,590 |   |
|                                        |   | $        | 1,083,028 |   |      | $      | 15,433 |                           |   | $      | 4,436                         |   |   | $ | 7,935 |   |

|                                        |   |     |    |   | Segment   |   |   | Depreciation                   |   |   | Property                  and |   |
|---------------------------------------------|--------|----------|---------|--------|-----------|--------|--------|--------------------------------|--------|--------|-------------------------------|--------|
|                                        |   |     |    |   | Operating |   |   | Depletion                  and |   |   | Equipment                     |   |
|                                        |   | Revenues |    |   | Earnings  |   |   | Amortization                   |   |   | Additions                     |   |
| Period                  Ended June 30, 2007 |   |     |    |   |      |   |   |                           |   |   |                          |   |
| Marketing                                   |   |     |    |   |      |   |   |                           |   |   |                          |   |
| -                  Crude Oil                |   | $        | 502,291 |   |      | $      | 3,877  |                           |   | $      | 160                           |   |   | $ | 199 |   |
| -                  Natural gas              |   |     | 3,232   |   |      |   | 1,198  |                           |   |   | 55                            |   |   |   | 17 |   |
| -                  Refined products         |   |     | 42,825  |   |      |   | 141    |                           |   |   | 105                           |   |   |   | 106 |   |
| Marketing                  Total            |   |     | 548,348 |   |      |   | 5,216  |                           |   |   | 320                           |   |   |   | 322 |   |
| Transportation                              |   |     | 17,844  |   |      |   | 2,433  |                           |   |   | 1,072                         |   |   |   | 121 |   |
| Oil                  and gas                |   |     | 3,556   |   |      |   | 12,528 |                           |   |   | 883                           |   |   |   | 3,218 |   |
|                                        |   | $        | 569,748 |   |      | $      | 20,177 |                           |   | $      | 2,275                         |   |   | $ | 3,661 |   |
| Period                  Ended June 30, 2006 |   |     |    |   |      |   |   |                           |   |   |                          |   |   |   |   |   |
| Marketing                                   |   |     |    |   |      |   |   |                           |   |   |                          |   |   |   |   |   |
| -                  Crude Oil                |   | $        | 519,974 |   |      | $      | 2,582  |                           |   | $      | 232                           |   |   | $ | 169 |   |
| -                  Natural gas              |   |     | 2,456   |   |      |   | 631    |                           |   |   | 14                            |   |   |   | 220 |   |
| -                  Refined products         |   |     | 51,167  |   |      |   | 493    |                           |   |   | 93                            |   |   |   | 886 |   |
| Marketing                  Total            |   |     | 573,597 |   |      |   | 3,706  |                           |   |   | 339                           |   |   |   | 1,275 |   |
| Transportation                              |   |     | 17,156  |   |      |   | 1,974  |                           |   |   | 1,109                         |   |   |   | 355 |   |
| Oil                  and gas                |   |     | 4,247   |   |      |   | 2,140  |                           |   |   | 946                           |   |   |   | 1,674 |   |
|                                        |   | $        | 595,000 |   |      | $      | 7,820  |                           |   | $      | 2,394                         |   |   | $ | 3,304 |   |

**(in        thousands)**

|                                |   | June                  30, |    |   | December                  31, |   |
|-------------------------------------|--------|---------------------------|---------|--------|-------------------------------|--------|
|                                |   | 2007                      |    |   | 2006                          |   |
| Marketing                           |   |                      |    |   |                          |   |
| -                  Crude oil        |   | $                         | 128,397 |   |                          | $      | 116,917 |   |
| -                  Natural gas      |   |                      | 79,268  |   |                          |   | 80,346 |   |
| -                  Refined products |   |                      | 19,050  |   |                          |   | 16,286 |   |
| Marketing                  Total    |   |                      | 226,715 |   |                          |   | 213,549 |   |
| Transportation                      |   |                      | 21,629  |   |                          |   | 23,764 |   |
| Oil                  and gas        |   |                      | 26,307  |   |                          |   | 25,918 |   |
| Other                               |   |                      | 28,295  |   |                          |   | 26,056 |   |
|                                |   | $                         | 302,946 |   |                          | $      | 289,287 |   |

**(in        thousands)**

|                                          |   | Six                  months ended |   |   | Three                  months ended |   |
|-----------------------------------------------|--------|-----------------------------------|--------|--------|-------------------------------------|--------|
|                                          |   | June                    30,       |   |   | June                    30,         |   |
|                                          |   | 2007                              |   |   | 2006                                |   |   | 2007 |   |   | 2006 |   |
| Segment                  operating earnings   |   | $                                 | 23,606 |   |                                | $      | 15,433 |   |   | $ | 20,177 |   |   | $ | 7,820 |   |
| -                  General and administrative |   |                              | (5,184 | )      |                                |   | (4,120 | ) |   |   | (2,582 | ) |   |   | (2,004 | ) |
| Operating                  earnings           |   |                              | 18,422 |   |                                |   | 11,313 |   |   |   | 17,595 |   |   |   | 5,816 |   |
| -                  Interest income            |   |                              | 823    |   |                                |   | 249 |   |   |   | 456 |   |   |   | 164 |   |
| -                  Interest expense           |   |                              | (63    | )      |                                |   | (72 | ) |   |   | (32 | ) |   |   | (44 | ) |
| Earnings                  before income taxes |   | $                                 | 19,182 |   |                                | $      | 11,490 |   |   | $ | 18,019 |   |   | $ | 5,936 |   |

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

**(in thousands):**

|                                   |   | 2007 |   |   | 2008   |   |   | 2009   |   |   | 2010  |   |   | 2011 |   |   | Thereafter |   |   | Total  |   |
|----------------------------------------|--------|------|--------|--------|--------|--------|--------|--------|--------|--------|-------|--------|--------|------|--------|--------|------------|--------|--------|--------|--------|
| Lease                  residual values |   | $    | -      |   |   | $      | 304    |   |   | $      | 1,475 |   |   | $    | 217    |   |       | $      | 181    |   |   | $ | 288 |   |   | $ | 2,465 |   |

----

**in thousands):**

|                                   |   | 2007   |   |   | 2008   |   |   | 2009   |   |   | 2010  |   |   | 2011   |   |   | Thereafter |   |   | Total  |   |
|----------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-------|--------|--------|--------|--------|--------|------------|--------|--------|--------|--------|
| Bank                  debt             |   | $      | -      |   |   | $      | -      |   |   | $      | -     |   |   | $      | -      |   |       | $      | -      |   |   | $ | - |   |   | $ | - |   |
| Operating                  leases      |   |   | 2,005  |   |   |   | 3,846  |   |   |   | 1,524 |   |   |   | 547    |   |       |   | 186    |   |   |   | 104 |   |   |   | 8,212 |   |
| Lease                  residual values |   |   | -      |   |   |   | 304    |   |   |   | 1,475 |   |   |   | 217    |   |       |   | 181    |   |   |   | 288 |   |   |   | 2,465 |   |
| Commodity                  purchases   |   |   | 23,523 |   |   |   | -      |   |   |   | -     |   |   |   | -      |   |       |   | -      |   |   |   | - |   |   |   | 23,523 |   |
| Letters                  of credit     |   |   | 47,174 |   |   |   | -      |   |   |   | -     |   |   |   | -      |   |       |   | -      |   |   |   | - |   |   |   | 47,174 |   |
|                                   |   | $      | 72,702 |   |   | $      | 4,150  |   |   | $      | 2,999 |   |   | $      | 764    |   |       | $      | 367    |   |   | $ | 392 |   |   | $ | 81,374 |   |

----

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

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

**in thousands**

|                                |   | Six                  Months Ended |      |   | Three                  Months Ended |   |
|-------------------------------------|--------|-----------------------------------|-----------|--------|-------------------------------------|--------|
|                                |   | June                    30,       |      |   | June                    30,         |   |
|                                |   | 2007                              |      |   | 2006                                |   |   | 2007 |   |   | 2006 |   |
| Revenues                            |   |                              |      |   |                                |   |   |   |   |   |   |   |
| Crude                  oil          |   | $                                 | 932,727   |   |                                | $      | 947,128 |   |   | $ | 502,291 |   |   | $ | 519,974 |   |
| Natural                  gas        |   |                              | 6,668     |   |                                |   | 5,545 |   |   |   | 3,232 |   |   |   | 2,456 |   |
| Refined                  products   |   |                              | 78,094    |   |                                |   | 89,412 |   |   |   | 42,825 |   |   |   | 51,167 |   |
| Total                               |   | $                                 | 1,017,489 |   |                                | $      | 1,042,085 |   |   | $ | 548,348 |   |   | $ | 573,597 |   |
|                                |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Operating                  Earnings |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Crude                  oil          |   | $                                 | 5,661     |   |                                | $      | 4,043 |   |   | $ | 3,877 |   |   | $ | 2,582 |   |
| Natural                  gas        |   |                              | 2,492     |   |                                |   | 2,422 |   |   |   | 1,198 |   |   |   | 631 |   |
| Refined                  products   |   |                              | 286       |   |                                |   | 878 |   |   |   | 141 |   |   |   | 493 |   |
| Total                               |   | $                                 | 8,439     |   |                                | $      | 7,343 |   |   | $ | 5,216 |   |   | $ | 3,706 |   |
|                                |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                        |   |                              |      |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Crude                  oil          |   | $                                 | 307       |   |                                | $      | 439 |   |   | $ | 160 |   |   | $ | 232 |   |
| Natural                  gas        |   |                              | 70        |   |                                |   | 29 |   |   |   | 55 |   |   |   | 14 |   |
| Refined                  products   |   |                              | 212       |   |                                |   | 192 |   |   |   | 105 |   |   |   | 93 |   |
| Total                               |   | $                                 | 589       |   |                                | $      | 660 |   |   | $ | 320 |   |   | $ | 339 |   |

|                                                              |   | Six                  Months Ended |    |   | Three                  Months Ended |   |
|-------------------------------------------------------------------|--------|-----------------------------------|---------|--------|-------------------------------------|--------|
|                                                              |   | June                    30,       |    |   | June                    30,         |   |
|                                                              |   | 2007                              |    |   | 2006                                |   |   | 2007 |   |   | 2006 |   |
| Field                  Level Purchase Volumes – Per day (1) |   |                              |    |   |                                |   |   |   |   |   |   |   |
| Crude                  oil – barrels                        |   |                              | 61,000  |   |                                |   | 65,650 |   |   |   | 63,900 |   |   |   | 64,900 |   |
| Natural                  gas – mmbtu’s                |   |                              | 431,200 |   |                                |   | 335,400 |   |   |   | 407,200 |   |   |   | 327,500 |   |
|                                                              |   |                              |    |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Average                  Purchase Price                           |   |                              |    |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Crude                  oil – per barrel                     |   | $                                 | 58.22   |   |                                | $      | 63.51 |   |   | $ | 61.46 |   |   | $ | 66.65 |   |
| Natural                  Gas – per mmbtu’s            |   | $                                 | 7.12    |   |                                | $      | 7.01 |   |   | $ | 7.38 |   |   | $ | 6.38 |   |

----

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

**in        thousands**

|                                |   | Six                  Months Ended |   |   |     |   |   | Three                  Months Ended |   |   |     |   |
|-------------------------------------|--------|-----------------------------------|--------|--------|----------|--------|--------|-------------------------------------|--------|--------|----------|--------|
|                                |   | June                    30,       |   |   | Increase |   |   | June                    30,         |   |   | Increase |   |
|                                |   | 2007                              |   |   | 2006     |   |   | (Decrease)                          |   |   | 2007     |   |   | 2006 |   |   | (Decrease) |   |
|                                |   |                              |   |   |     |   |   |                                |   |   |     |   |   |   |   |   |   |   |
| Revenues                            |   | $                                 | 31,646 |   |     | $      | 32,097 |                                |   |   | (1.4     | )%     |   | $ | 17,844 |   |   | $ | 17,156 |   |   |   | 4.0 | % |
|                                |   |                              |   |   |     |   |   |                                |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                  earnings |   | $                                 | 3,159  |   |     | $      | 3,145  |                                |   |   | -        | %      |   | $ | 2,433 |   |   | $ | 1,974 |   |   |   | 23.2 | % |
|                                |   |                              |   |   |     |   |   |                                |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                        |   | $                                 | 2,239  |   |     | $      | 2,233  |                                |   |   | -        | %      |   | $ | 1,072 |   |   | $ | 1,109 |   |   |   | (3.3 | )% |

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

**in thousands**
**:**

|                                        |   | Six                  Months Ended |   |   |     |   |   | Three                  Months Ended |   |   |     |   |
|---------------------------------------------|--------|-----------------------------------|--------|--------|----------|--------|--------|-------------------------------------|--------|--------|----------|--------|
|                                        |   | June                    30,       |   |   | Increase |   |   | June                    30,         |   |   | Increase |   |
|                                        |   | 2007                              |   |   | 2006     |   |   | (Decrease)                          |   |   | 2007     |   |   | 2006 |   |   | (Decrease) |   |
| Revenues                                    |   | $                                 | 6,979  |   |     | $      | 8,846  |                                |   |   | (21.1    | )%     |   | $ | 3,556 |   |   | $ | 4,247 |   |   |   | (16.3 | )% |
|                                        |   |                              |   |   |     |   |   |                                |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                  earnings         |   | $                                 | 12,008 |   |     | $      | 4,945  |                                |   |   | 142.8    | %      |   | $ | 12,528 |   |   | $ | 2,140 |   |   |   | 485.4 | % |
|                                        |   |                              |   |   |     |   |   |                                |   |   |     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Depreciation                  and depletion |   | $                                 | 1,938  |   |     | $      | 1,543  |                                |   |   | 25.6     | %      |   | $ | 883 |   |   | $ | 946 |   |   |   | (6.6 | )% |

|                                      |   | Six                  Months Ended |    |   | Three                  Months Ended |   |
|-------------------------------------------|--------|-----------------------------------|---------|--------|-------------------------------------|--------|
|                                      |   | June                    30,       |    |   | June                    30,         |   |
|                                      |   | 2007                              |    |   | 2006                                |   |   | 2007 |   |   | 2006 |   |
| Crude                  Oil                |   |                              |    |   |                                |   |   |   |   |   |   |   |
| Volume                  – barrels   |   |                              | 35,450  |   |                                |   | 39,570 |   |   |   | 18,250 |   |   |   | 19,760 |   |
| Average                  price per barrel |   | $                                 | 60.78   |   |                                | $      | 64.53 |   |   | $ | 64.62 |   |   | $ | 67.88 |   |
|                                      |   |                              |    |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Natural                  gas              |   |                              |    |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Volume                  – mcf       |   |                              | 642,000 |   |                                |   | 795,560 |   |   |   | 307,000 |   |   |   | 399,430 |   |
| Average                  price per mcf    |   | $                                 | 7.52    |   |                                | $      | 7.91 |   |   | $ | 7.76 |   |   | $ | 7.27 |   |

**(in thousands):**

|                                    |   | Six                  Months Ended |   |   | Three                  Months Ended |   |
|-----------------------------------------|--------|-----------------------------------|--------|--------|-------------------------------------|--------|
|                                    |   | June                    30,       |   |   | June                    30,         |   |
|                                    |   | 2007                              |   |   | 2006                                |   |   | 2007 |   |   | 2006 |   |
| Dry                  hole expense       |   | $                                 | 1,376  |   |                                | $      | 16 |   |   | $ | 325 |   |   | $ | 19 |   |
| Prospect                  abandonment   |   |                              | 397    |   |                                |   | 389 |   |   |   | 182 |   |   |   | 130 |   |
| Seismic                  and geological |   |                              | 1,165  |   |                                |   | 241 |   |   |   | 592 |   |   |   | 168 |   |
|                                    |   |                              |   |   |                                |   |   |   |   |   |   |   |   |   |   |   |
| Total                                   |   | $                                 | 2,938  |   |                                | $      | 646 |   |   | $ | 1,099 |   |   | $ | 317 |   |

----

*-           Income        tax*

*-           Outlook*

**(in thousands):**

|                                                      |   | Six                  Months Ended |    |
|-----------------------------------------------------------|--------|-----------------------------------|---------|
|                                                      |   | June                    30,       |    |
|                                                      |   | 2007                              |    |   | 2006 |   |
| Net                  earnings                             |   | $                                 | 12,198  |   |   | $ | 7,682 |   |
| Less                  net gain on sale                    |   |                              | (12,034 | ) |   |   | (32 | ) |
| Depreciation,                  depletion and amortization |   |                              | 4,766   |   |   |   | 4,436 |   |
| Property                  and equipment additions         |   |                              | (7,130  | ) |   |   | (7,935 | ) |
|                                                      |   |                              |    |   |   |   |   |   |
| Cash                  available for (from) other uses     |   | $                                 | (2,200  | ) |   | $ | 4,151 |   |

----

*-        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 and confuses 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**

|                                                                       |   | 2007   |   |   | 2006   |   |
|----------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
| Net                  fair value on January 1,                              |   | $      | 1,464  |   |   | $      | 1,781 |   |
| Activity                  during the period                                |   |   |   |   |   |   |   |   |
| -                  Cash received from settled contracts                    |   |   | (874   | )      |   |   | (1,455 | ) |
| -                  Net realized gain from prior years’ contracts     |   |   | -      |   |   |   | 258 |   |
| -                  Net realized loss from prior years’ contracts     |   |   | (62    | )      |   |   | - |   |
| -                  Net unrealized (loss) from prior years’ contracts |   |   | (110   | )      |   |   | (62 | ) |
| -                  Net unrealized gain from current year contracts         |   |   | 1,175  |   |   |   | 658 |   |
| -                  Net fair value on June 30,                              |   | $      | 1,593  |   |   | $      | 1,180 |   |

----

----

**PART        II.  OTHER INFORMATION**

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

|   | Item                  1A. - There have been no material changes in the Company’s risk factors                  from those disclosed in the 2006 Form                  10-K. |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Item                  2. - None |
|--------|---------------------------------|

| Director                             |   | Votes                    For |      |   | Votes                    Withheld |   |   | Non-Voted |   |
|--------------------------------------|--------|------------------------------|-----------|--------|-----------------------------------|--------|--------|-----------|--------|
| K.                  S. Adams, Jr.    |   |                         | 3,941,509 |   |                              |   | 57,510 |      |   |   | 218,577 |   |
| F.                  T. Webster       |   |                         | 3,919,702 |   |                              |   | 79,317 |      |   |   | 218,577 |   |
| E.                  C. Reinauer, Jr. |   |                         | 3,921,122 |   |                              |   | 77,897 |      |   |   | 218,577 |   |
| E.                  J. Webster, Jr.  |   |                         | 3,950,239 |   |                              |   | 48,780 |      |   |   | 218,577 |   |
| Larry                  E. Bell       |   |                         | 3,984,339 |   |                              |   | 14,680 |      |   |   | 218,577 |   |

----

| 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:  August                  13, 2007 | 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  |

----