FORM 10-QSB

                  SECURITIES AND EXCHANGE COMMISSION
                        Washington D.C.  20549

             Quarterly Report Under Section 13 or 15 (d)
                Of the Securities Exchange Act of 1934


            For Quarter Ended        December 31, 2000

          Commission File Number


                            HABERSHAM ENERGY COMPANY
        (Exact name of registrant as specified in its charter)


         OKLAHOMA                                       73-0981865
     (State or other jurisdiction of               (IRS Employer
   incorporation or organization)               Identification No.)



      6975 South Union Park Center #600, Salt Lake City UT 84047
               (Address of principal executive offices)


Registrant's telephone number
including area code                                         (801) 256-9600



             Former Address, if changed since last report

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of
1934 during the preceding 12 months (or such shorter period that the
registrant was required to file such reports)

                            Yes X   No

and (2) has been subject to such filing requirements for the past 90 days.


                            Yes X   No


                             4,617,424
                     (Number of shares of common
                       stock the registrant had
                 outstanding as of January 30, 2001)

                                PART 1

ITEM 1 - FINANCIAL STATEMENTS

     The condensed financial statements included herein have been prepared by
the Company, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in accordance
with generally accepted accounting principles have been condensed or omitted
pursuant to such rules and regulations, although the Company believes that the
disclosures are adequate to make the information presented not misleading.

     In the opinion of the Company, all adjustments, consisting of only normal
recurring adjustments, necessary to present fairly the financial position of
the Company as of December 31, 2000 and the results of its operations and
changes in its financial position from September 30, 2000 through December 31,
2000 have been made.  The results of its operations for such interim period
is not necessarily indicative of the results to be expected for the entire year.

                       HABERSHAM ENERGY COMPANY
                            Balance Sheets

                                ASSETS

                                                December 31,   September 30,
                                                      2000        2000

TOTAL ASSETS                          $             -       $       -


            LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES

     Accounts Payable                             188,412            169,713

     Total Current Liabilities                    188,412            169,713

COMMITMENT AND CONTINGENCIES (Note 2)                -               -

STOCKHOLDERS' EQUITY (DEFICIT)

     Preferred Stock; 1,428 shares at $700
        par value; 0 shares issued and
        outstanding (Note 3)                         -            -
     Common Stock authorized; 20,000,000 shares at $.10
        par value; 4,617,424 shares issued and
                     outstanding                 461,742          461,742
     Capital in Excess of Par Value            7,884,033        7,884,033
     Accumulated Deficit                      (8,534,187 )     (8,515,488)

     Total Stockholders' Equity (Deficit)       (188,412)        (169,713)

   TOTAL LIABILITIES AND
   STOCKHOLDERS' EQUITY (DEFICIT)          $            -    $       -


                       HABERSHAM ENERGY COMPANY
                       Statements of Operations
                             (unaudited)


                                          For the Three Months
                                          Ended December 31,
                                            2000      1999

REVENUE                                  $   -     $    -

EXPENSES                                $18,699    $     -

NET INCOME (LOSS) - Before Taxes        $(18,699)   $-

     Taxes (Note 1)                          -        -

INCOME (LOSS)                  $        (18,699)    $    -


Loss Per Common Share          $              -     $    -

Average Outstanding Shares             4,617,424     4,617,424


                       HABERSHAM ENERGY COMPANY
                       Statements of Cash Flows
                             (unaudited)


                                                   For the Three Months
                                                    Ended December 31,
                                                     2000        1999

SOURCES OF CASH

     Net earnings                      $(18,699)   $    -

CASH PROVIDED BY (USED FOR)
   OPERATING ACTIVITIES

     Increase/(Decrease) in:
     Taxes payable/Interest payable               -            -
     Accounts payable                  18,699      -

Net Cash Provided (Used for) Operations            -           -

INVESTMENT TRANSACTIONS                       -          -

FINANCING TRANSACTIONS                        -          -

Net increase (decrease) in cash                   -            -

Beginning cash balance                        -          -

Ending cash balance                           -          -

Cash Paid For:
     Interest                            $    -     $    -
     Taxes                               $    -     $    -

                       HABERSHAM ENERGY COMPANY
                  Notes to the Financial Statements
               December 31, 2000 and September 30, 2000

NOTE 1 - Summary of Significant Accounting Policies

     Organization
     Habersham Energy Company (formerly U.S. Mineral & Royalty Corp.) (the
"Company") was      incorporated under the laws of Oklahoma on April 14, 1975
s an oil and gas exploration, development and operating company.
Historically, the Company was engaged in the business  of acquiring producing
oil and gas properties but the Company has not had any business activity
since 1995.

     Income (Loss) Per Share
     The computation of income or (loss) per share of common stock is based on
the weighted  average number of shares outstanding at the date of the
financial statements.

     Income Taxes

     The Company adopted Statement of Financial Standards No. 109 "Accounting
for Income  taxes" in the fiscal year ended September 30, 2000 and was applied
retroactively.

     Statement of Financial Accounting Standards No. 109 " Accounting for
Income Taxes"requires an asset and liability approach for financial accounting
and reporting for income tax purposes.  This statement recognizes (a) the
amount of taxes payable or refundable for the  current year and (b) deferred
tax liabilities and assets for future tax consequences of eventsthat have
been recognized in the financial statements or tax returns.

     Deferred income taxes result from temporary differences in the
recognition of accountingtransactions for tax and financial reporting purposes.
There were no temporary differences at September 30, 2000 and earlier years;
accordingly, no deferred tax liabilities have been recognized for all years.

     The Company has cumulative net operating loss carryforwards of over
$8,000,000 at September 30, 2000.  No effect has been shown in the financial
statements for the net operating loss carryforwards as the likelihood of
future tax benefit from such net operating loss carryforwards is not probable.
Accordingly, the potential tax benefits of the net operating loss
carryforwards at September 30, 2000 have been offset by valuation reserves
of the same amount.

     Use of Estimates
     The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date  of the financial
statements and the reported amounts of revenues and expenses during the
reporting period.  Actual results could differ from those estimates.

                       HABERSHAM ENERGY COMPANY
                  Notes to the Financial Statements
               December 31, 2000 and September 30, 2000

NOTE 2 - Commitments and Contingencies

     The Company has an outstanding tax liabilities of approximately $10,000
from Sweetwater ounty, Wyoming and $1,500 from Arapahoe County, Colorado.  The
Company has also listed several liabilities from vendors that have been owing
since 1994-95 time period when the Company was in business.  There have been
no contact with these vendors for several years and it is doubtful that any of
the liabilities will be paid, due to statute of limitations and other time
lapsed considerations.  The tax liabilities are real and personal property
taxes and are due to also expire with the statute of limitations.  Management
estimates that there is a remote possibility that the Company will ever pay
these liabilities and that the taxing agencies or creditor vendors will make
contact or press court collections on the liabilities.

NOTE 3 - Preferred Stock

     The Company has authorized 1,428 shares of $700 par value convertible
preferred stock with various rights as follows:

     - outstanding shares are entitled to receive a 5% dividend cumulative
from the date of issuance.

     - outstanding shares are convertible into 100,000 shares of common stock
based on a conversion price formula.

     - preferences to liquidation before common stockholders.

     - voting rights based on a conversion calculation into common stock based
on the conversion  price formula.

     No shares are currently outstanding and as such no preferred dividends
are accrued.







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

     Liquidity and Capital Resources.  The Registrant has approximately
$(188,412) as operating capital at December 31, 2000. The Registrant intends
to raise additional funds as needed through private placements with
accredited and sophisticated investors.

     Results of Operation.  Due to the lack of operations during the quarter
ended December 31, 2000, the registrant had net loss of  $(18,699).

     Plan of Operations.  The Company is currently in the process of looking
for business opportunities to acquire or merge with.  There is no guarantee
that management will be successful in finding such an opportunity.  The
Company is also in the process of bringing all of its periodic reports current
for filing with the Securities and Exchange Commission. During this process,
the Company intends to raise operational capital through private placements.

                                        PART II

OTHER INFORMATION

Item 1.   Legal Proceedings.                                             None
Item 2.   Changes in Securities.                                         None
Item 3.   Defaults Upon Senior Securities.                               None
Item 4.   Submission of Matters to a Vote of Security Holders.           None
Item 5.   Other Information.                                             None
Item 6.   Exhibits and Reports on Form 8-K.                              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 authorized officer.


Dated January 30, 2001
                                              Habersham Energy Company

                                                /s/