U.S. SECURITIES AND EXCHANGE
              COMMISSION Washington, D.C. 20549
                       Form 10-QSB
  (Mark One)
X   QUARTERLY  REPORT  UNDER  SECTION 13 OR 15(d)
     OF THE SECURITIES EXCHANGE  ACT  OF 1934 FOR
     THE QUARTERLY PERIOD ENDED OCTOBER 31, 1996
     
     TRANSITION  REPORT  UNDER SECTION 13 OR

     15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

     FOR THE TRANSITION PERIOD FROM     TO

  Commission file number ....0-8155....

           American Energy & Technology Inc.

 (Exact name of small business issuer as specified in its

           charter)

Delaware                             73-0977756

(State or other jurisdiction of          (IRS Employer
 incorporation or organization)          Identification No.)

1500 Midland Walwyn Tower, Edmonton, Alberta    T5J 2Z2

  (Address of principal executive offices)      (Zip

                         Code)

                           (403) 496-9169

                    (Issuer's telephone number)




 (Former name, former address and former fiscal year,
                           if changed since last
report)

  Check  whether the issuer (1) has filed all reports
  required  to be filed by Section 13 or 15(d) of the
  Exchange Act during the past  12 months  (or for such
  shorter period that the registrant was required to
  file such  reports), and (2) has been subject to
  such filing requirements for the past 90 days.
  Yes .X.    No ....
  Applicable only to corporate issuers
  State  the  number  of shares outstanding of each  of
  the issuer's classes of common equity, as of the
  latest practicable date.  As  of October 31, 1996,
  8,041,475 shares of common stock were issued  and
  outstanding.
  
  
  
  
                             PART 1 - ITEM 1

AMERICAN ENERGY & TECHNOLOGY INC.
Financial Statements
For the 6 months ended October 31, 1996
Expressed in U.S. Dollars

Balance Sheet                          October 31   April 30
                                           1996        1996
Assets
Current
Cash                                     $6,585  $   3,669
                                         ---------  -------
                                          
Liabilities and Shareholders'
 Equity (Deficiency)

                                       
Accounts & advances payable (Note 2)     $  104,117   $46,579
                                         --------    --------
                                            104,117  46,579


Shareholder's Equity
Share Capital (Note 3)                    89,165       89,165
Deficit                                 (186,697)    (132,075)
                                       ----------      -------
                                       (97,532)      (42,910)
                                       ----------      -------
                                       $ 6,585         $3,669
                                       ==========     =========



Statement of Operations and Deficit
Expressed in U.S. Dollars


                           Quarter Ended         Six Months
Ended
                            1996    1995            1996    1995
Revenue
 Interest Income                $ -      $ -         $ 7     $ -
                                
                               -----   ------       -----   ----

Administrative Expenses
General and administration     33,541  6,087       54,630   12,507
                                -------  -----     ------   ------

Net loss for the period       (33,541) (6,087)     (54,623) (12,507)
Deficit, beginning of period (153,156)(17,731)    (132,075) (11,312)
                               -------  -------   -------    -------
Deficit, end of period      $(186,697) $(23,818) $(186,698) $(23,819)
                              ========= ======== ========    =======

Loss per Share*                $(0.004) $(0.001)  $(0.007)  (0.002)
* Based on 8,041,475 common shares, (1995-8,041,475)



Statement of Changes in Financial Position
Expressed in U.S. Dollars
For the 6 months ended October 31               1996     1995
                                             -------   -------
Cash provided by (used in)

Operating Activities
 Net loss                                  $(54,623)    $(12,507)
 Amortization                                  -          11,166
                                         -----------   ----------
                                          (54,623)        (1,341)
Changes in  working capital accounts
  Accounts & Advances payable               57,539         1,341
                                          ----------   ----------
Increase In Cash                           2,916           -


Cash, beginning of period                     3,669        -
                                           ---------   ----------

Cash, end of period                         $6,585         $  -
                                           =========   ==========



1.      Significant Accounting Policies

Significant accounting policies are as follows:
Incorporation:

American Energy & Technology, Inc.  was incorporated  under the laws of
the State of Delaware on April 25, 1975 and renewed on March 18, 1994.

Net Income (loss) per common share:
The net income (loss) per common share is based on the number of $0.01 par
value common shares outstanding.

2.      Related Party Transactions

The Corporation has entered into the following transactions with related
parties:

The Corporation owes $65,000 for professional fees and office sharing costs
to a company affiliated with Directors' of the Corporation.

A company affiliated with directors' of the Corporation provided the
Corporation unsecured advances of  $34,430.

3.      Share Capital

Authorized
Seventy-five million (75,000,000) $.01 par value common stock.
                                                      1996        1995
                                                    --------     -------
Issued
8,041,475 common stock $.01 par value               $89,165     $89,165
                                                   ==========  =========
                                                      
                                                      
                                                      
                                                      
                           ITEM 2

Management Discussion and Analysis of Financial Condition and Results of
Operations.

1. Material Changes in Results of Operation
The results of the statement of loss indicates a loss of $54,623 for the
six month period which represents transfer agent, legal and consulting
fees necessary to maintain the Registrant current with its regulatory
filing requirements.


2. Material Changes in Financial Condition

The directors are working to establish the Registrant as a prominent mineral
exploration and development company seeking high tonnage, low to medium
grade, gold and copper ore bodies which would be economical to mine.

The registrant received on October 16, 1996 confirmation from NASD
Regulation, Inc. to submit a quote on the OTC Bulletin Board under the
Symbol "AEYT"

                                 Part II

OTHER INFORMATION

Item I.         Legal Proceedings

                        None

Item 2.         Changes in Securities

                        None

Item 3.         Defaults Upon Senior Securities

                        None

Item 4.         Submission of Matters to Vote of

                        None
                
                
Item 5.         Other Information

                        None

Item 6.         Exhibits and Reports on Form 8 - K

                        None


SIGNATURES

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


AMERICAN ENERGY & TECHNOLOGY, INC.

Date:   December 12, 1996              Don Caron
                                       Don Caron
                                       President

Date:   December 12, 1996              Richard Caron
                                       Richard Caron
                                       Director