<PAGE> 1
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                   U.S. SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C. 20549

                                  FORM 10-Q

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

                For the quarterly period ended March 31, 1998

[ ]           TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                   OF THE SECURITIES EXCHANGE ACT OF 1934
              For the transition period from        to 
                                             ------    ------

                      Commission File Number:  000-26354

                           LOGAN INTERNATIONAL CORP.
            (Exact name of Registrant as specified in its charter)

              Washington                                 91-1636980
  (State or other jurisdiction of                     (I.R.S. Employer
   incorporation or organization)                    Identification No.)

 Suite 1250, 400 Burrard Street, Vancouver, British Columbia, Canada  V6C 3A6
                   (Address of principal executive offices)
  
                               (604) 683-5767
            (Registrant's telephone number, including area code)

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 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       
                                                    -----     -----

Indicate the number of shares outstanding of each of the Registrant's classes 
of common stock, as of the latest practicable date:

             Class                           Outstanding at May 14, 1998
             -----                           ---------------------------

     Common Stock, $0.01                             10,837,808
          par value  

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FORWARD-LOOKING STATEMENTS

Statements in this report, to the extent that they are not based on 
historical events, constitute forward-looking statements.  Forward-looking 
statements include, without limitation, statements regarding the outlook for 
future operations, forecasts of future costs and expenditures, the evaluation 
of market conditions, the outcome of legal proceedings, the adequacy of 
reserves, or other business plans.  Investors are cautioned that forward-
looking statements are subject to an inherent risk that actual results may 
vary materially from those described herein.  Factors that may result in such 
variance, in addition to those accompanying the forward-looking statements, 
include changes in interest rates, prices and other economic conditions; 
actions by competitors; natural phenomena; actions by government and 
regulatory authorities; uncertainties associated with legal proceedings; 
technological development; future decisions by management in response to 
changing conditions; and misjudgments in the course of preparing forward-
looking statements.


                      PART I.  FINANCIAL INFORMATION
                               ---------------------

ITEM 1.  FINANCIAL STATEMENTS




                           LOGAN INTERNATIONAL CORP.

                      CONSOLIDATED FINANCIAL STATEMENTS

                  FOR THE THREE MONTHS ENDED MARCH 31, 1998

                                 (Unaudited)

                                      2

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                           LOGAN INTERNATIONAL CORP.
                         Consolidated Balance Sheets
                                  (Unaudited)
                            (dollars in thousands)
<TABLE>
<CAPTION>
                                           March 31, 1998   December 31, 1997
                                           --------------   -----------------
<S>                                        <C>                <C>
                                    ASSETS

Current Assets
  Cash and cash equivalents                 $        2,179    $          452
  Cash held in escrow                                    -               617
  Accounts receivable, net                           1,224             2,417
  Notes receivable                                     680               680
  Real estate held for development 
    and sale                                         4,556             4,544
  Other assets                                          76                36
                                            --------------    --------------
     Total current assets                            8,715             8,746

Investments                                          6,752             7,014
                                            --------------    --------------
                                            $       15,467    $       15,760
                                            ==============    ==============

                     LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
  Accounts payable                          $          219    $          327
  Accrued liabilities                                  499               641
  Due to affiliates                                    791             1,868
  Debt                                               1,147             2,136
                                            --------------    --------------
     Total current liabilities                       2,656             4,972

Long-term debt                                         646               646
                                            --------------    --------------
     Total liabilities                               3,302             5,618

Minority interest                                    3,007               750

Shareholders' Equity
  Common stock                                         108               108
  Preferred stock                                        1                 1
  Additional paid-in capital                        14,673            14,673
  Net unrealized gain on 
    investment valuation                              (256)                6
  Retained deficit                                  (5,368)           (5,396)
                                            --------------    --------------
     Total equity                                    9,158             9,392
                                            --------------    --------------
                                            $       15,467    $       15,760
                                            ==============    ==============
</TABLE>


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

                                      3

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                           LOGAN INTERNATIONAL CORP.
              Consolidated Statements of Operations and Deficit
                                  (Unaudited)
               (dollars in thousands except per share amounts)
<TABLE>
<CAPTION>
                                              For the Three   For the Three
                                              Months Ended    Months Ended
                                              March 31, 1998  March 31, 1997
                                              --------------  --------------
                                                                (Restated)
<S>                                           <C>             <C>
Revenues
  Dividend income                             $          290  $            -
  Gain on securities                                       -             139
  Other                                                    2              15
                                              --------------  --------------
                                                         292             154
                                              --------------  --------------
Costs and expenses
  General and administrative expenses                    201             313
  Real estate taxes                                       12              25
  Interest                                               161             205
                                              --------------  --------------
                                                         374             543
                                              --------------  --------------

Gain on disposal of a subsidiary                         437               -

Minority interest                                        (27)            177
                                              --------------  --------------

Income (loss) from continuing operations                 328            (212)

Discontinued operations, net of 
  minority interest
  (Loss) from discontinued operations                      -             (68)
                                              --------------  --------------

(Loss) from discontinued operations                        -             (68)

Net income (loss)                                        328            (280)
Deficit, beginning of period                          (5,396)         (2,605)
Dividend paid on preferred shares                       (300)              -
                                              --------------  --------------
Deficit, end of period                        $       (5,368) $       (2,885)
                                              ==============  ==============

Basic earnings (loss) per share
  Income (loss) from continuing operations    $         0.02  $        (0.02)
  (Loss) from discontinued operations                      -           (0.01)
                                              --------------  --------------

                                              $         0.02  $        (0.03)
                                              ==============  ==============
</TABLE>

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

                                      4

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                           LOGAN INTERNATIONAL CORP.
                    Consolidated Statements of Cash Flows
                                  (Unaudited)
                            (dollars in thousands)
<TABLE>
<CAPTION>
                                              For the Three   For the Three
                                              Months Ended    Months Ended
                                              March 31, 1998  March 31, 1997
                                              --------------  --------------
                                                                (Restated)
<S>                                           <C>             <C>
Cash Flows from Operating Activities:
  Net income (loss) from 
    continuing operations                     $          328  $         (212)
  Adjustments to reconcile net income 
    (loss) to net cash provided by 
    operating activities
    Minority interest                                     27            (177)
    Gain on securities                                     -            (139)
    Gain on disposal of a subsidiary                    (437)              -
                                              --------------  --------------
                                                         (82)           (528)
  Changes in current assets and liabilities
    Cash held in escrow                                  145             168
    Real estate                                          (12)            (14)
    Prepaid and other assets                             (44)             54
    Accounts receivable                                1,071               -
    Payables                                          (1,049)          2,696
                                              --------------  --------------
                                                          29           2,376
  Purchase of trading securities                           -          (2,667)
  Proceeds from sales of trading securities                -             642
                                              --------------  --------------
      Net cash provided by operating 
      activities of continuing operations                 29             351

Cash Flows from Investing Activities                       -               -
                                              --------------  --------------
                                                           -               -
Cash Flows from Financing Activities:
  Payment of debts                                      (232)           (539)
  Issuance of preferred shares 
    by a subsidiary                                    2,230               -
  Dividend                                              (300)              -
                                              --------------  --------------
      Net cash provided by (used in)
      financing activities of 
      continuing operations                            1,698            (539)

Net cash provided by (used in) continuing 
  operations                                           1,727            (188)
Net cash (used in) discontinued operations                 -             (14)
                                              --------------  --------------

Increase (decrease) in cash and 
  cash equivalents                                     1,727            (202)
Cash and cash equivalents, 
  beginning of period                                    452             809
                                              --------------  --------------
Cash and cash equivalents, end of period      $        2,179  $          607
                                              ==============  ==============
</TABLE>

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

                                      5

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                           LOGAN INTERNATIONAL CORP.
                 Notes to Consolidated Financial Statements
                               March 31, 1998
                                 (Unaudited)

Note 1.  Basis of Presentation
------------------------------

The interim period consolidated financial statements contained herein have 
been prepared by the Registrant pursuant to the rules and regulations of the 
U.S. 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.  These interim period statements 
should be read together with the audited consolidated financial statements 
and accompanying notes included in the Registrant's latest annual report on 
Form 10-K for the year ended December 31, 1997.  In the opinion of the 
Registrant, the unaudited consolidated financial statements contained herein 
contain all adjustments necessary in order to present a fair statement of the 
results for the interim periods presented.

Note 2.  Acquisition and Disposition
------------------------------------

In December 1996, the Registrant acquired a 50.3% interest in ICHOR 
Corporation ("Ichor"), which operated in the environmental services business. 
Ichor sold its environmental remediation services operations in April 1997 
and its waste oil recycling facility in December 1997.  The consolidated 
financial statements contained herein have been restated to record the 
disposed businesses as discontinued operations.  Ichor's results of 
operations have been included in the consolidated financial statements 
contained herein as discontinued operations.

Note 3.  Earnings (Loss) Per Share
----------------------------------

Basic earnings (loss) per share is computed on the weighted average number of 
shares outstanding during the period.  The weighted average number of shares 
outstanding was 10,837,808 for the three months ended March 31, 1998 and 
1997, respectively.

                                      6

<PAGE> 7
                       PART I.  FINANCIAL INFORMATION
                                ---------------------

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

The following discussion and analysis of the results of operations and the 
financial condition of Logan International Corp. (the "Corporation") for the 
quarter ended March 31, 1998 should be read in conjunction with the 
consolidated financial statements and related notes included elsewhere 
herein.

Results of Operations - Three Months Ended March 31, 1998
---------------------------------------------------------

Revenues for the three months ended March 31, 1998 increased to $0.3 million 
from $0.2 million for the three months ended March 31, 1997, as a result of 
dividends received on shares held by the Corporation.

Costs and expenses decreased to $0.4 million in the three months ended March 
31, 1998 from $0.5 million in the three months ended March 31, 1997, 
primarily as a result of the sale by the Corporation's 50.9% owned 
subsidiary, ICHOR Corporation ("Ichor"), of a wholly-owned subsidiary, ICHOR 
Services, Inc. ("Ichor Services"), for $100.  General and administrative 
expenses decreased to $0.2 million in the three months ended March 31, 1998 
from $0.3 million in the comparative period of 1997.  Interest expense 
decreased marginally in the three months ended March 31, 1998 from the same 
period in 1997. 

Effective March 31, 1998, Ichor sold Ichor Services and the Corporation 
recognized a gain of $0.4 million on the sale as a result of the disposal of 
net liabilities of Ichor Services.  

Income from continuing operations was $0.3 million or $0.02 per share in the 
three months ended March 31, 1998, compared to a loss from continuing 
operations of $0.2 million or $0.02 per share in the three months ended March 
31, 1997.  The Corporation reported a loss of $0.1 million or $0.01 per share 
from discontinued operations in the three months ended March 31, 1997.

Net income in the three months ended March 31, 1998 was $0.3 million or $0.02 
per share, compared to a net loss of $0.3 million or $0.03 per share in the 
three months ended March 31, 1997.

Liquidity and Capital Resources
-------------------------------

The Corporation had cash and cash equivalents of $2.2 million at March 31, 
1998, compared to $0.5 million at December 31, 1997. 

Net cash provided by operating activities before any activities in trading 
securities was $29,000 in the three months ended March 31, 1998, compared to 
$2.4 million in the comparative period of 1997.  Net purchases of trading 
securities used cash of $2.0 million in the three months ended March 31, 
1997.  Net cash provided by operating activities was $29,000 in the three 
months ended March 31, 1998, compared to $0.4 million in the three months 
ended March 31, 1997.  A decrease in accounts receivable provided cash of 
$1.1 million in the three months ended March 31, 1998.  A 

                                      7

<PAGE> 8

decrease in payables used cash of $1.0 million in the three months ended 
March 31, 1998, compared to providing cash of $2.7 million in the three 
months ended March 31, 1997.  

Financing activities provided cash of $1.7 million in the three months ended 
March 31, 1998, compared to using cash of $0.5 million in the three months 
ended March 31, 1997.  In the first quarter of 1998, Ichor completed the 
issuance of an aggregate of 467,500 shares of 5% Cumulative Redeemable 
Convertible Preferred Stock, Series 1 in consideration of debt forgiveness of 
$2.2 million and cash of $2.5 million.  The Corporation paid $0.3 million in 
dividends on its preferred stock in 1998.

At March 31, 1998, the Corporation had $1.2 million in outstanding notes 
which are secured by deeds of trust on a portion of the Corporation's real 
estate assets and are non-recourse to the Corporation. Pursuant to such deeds 
of trust, the Corporation is obligated to make property tax and assessment 
payments on the secured properties on a timely basis. 

At March 31, 1998, overdue real estate taxes on the Corporation's properties 
amounted to $0.1 million.  In addition, there is approximately $0.1 million 
in assessments to local improvement districts ("LIDs") which are overdue.  
Certain of the Corporation's properties are subject to overdue LIDs and 
property taxes.  Overdue real estate taxes and LIDs accrue interest at 
approximately 12% per annum. Under Washington State law, if real estate taxes 
or LIDs remain delinquent for three years, the governing jurisdiction can 
commence foreclosure proceedings against the property.  The Corporation 
anticipates that for the foreseeable future it will permit real estate taxes 
to remain overdue, but may pay such taxes and LIDs as are necessary to 
prevent foreclosure proceedings from occurring.  No non-judicial or judicial 
foreclosure actions have been commenced as a result of the Corporation's 
failure to make property tax or assessment payments on a timely basis.

The following table summarizes the repayment schedule of the Corporation's 
debt obligations, LIDs and unpaid property taxes at March 31, 1998:

                  Year Ending                 Dollars in
                   March 31,                  Thousands  
                  -----------                 ----------

                     1998                        1,147
                     1999                          401
                     2000                           41
                     2001                           41
                     2002                           41
                     Thereafter                    122
                                              --------
                                              $  1,793
                                              ========

The Corporation has no commitments for capital expenditures in relation to 
its undeveloped real estate, although it may need to provide funds for pre-
development work on certain parcels in order to enhance their marketability 
and sale value.  Based upon appraisals prepared for the Corporation, the 
Corporation believes that the value of its undeveloped real estate assets 
substantially exceeds the amount of indebtedness related thereto.  All of the 
Corporation's real estate assets are undeveloped, which makes the appraisal 
process inherently less certain than with developed properties. 

                                      8

<PAGE> 9

The Corporation continues to seek controlling interests in operating 
businesses as opportunities arise. The Corporation anticipates that it may 
require substantial capital to pursue any such opportunities and anticipates 
that such capital will be provided through the sale or exchange of assets, or 
through debt or equity financing.

                                      9

<PAGE> 10
                        PART II.  OTHER INFORMATION
                                  -----------------

ITEM 1.  LEGAL PROCEEDINGS

Reference is made to the Corporation's annual report on Form 10-K for the 
fiscal year ended December 31, 1997 for information concerning certain legal 
proceedings.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits  

Exhibit
Number                          Description
------                          -----------

  27        Article 5 - Financial Data Schedule for the 1st Quarter 1998 Form 
                        10-Q.

(b)  Reports on Form 8-K

None.

                                      10

<PAGE> 11
                                  SIGNATURES

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


Dated:  May 14, 1998                       LOGAN INTERNATIONAL CORP.


                                       By:  /s/ Michael J. Smith 
                                           ----------------------------------
                                           Michael J. Smith, President, Chief
                                           Financial Officer and Director

                                      11

<PAGE> 12
                                EXHIBIT INDEX

Exhibit Number                   Description
--------------                   -----------

     27          Article 5 - Financial Data Schedule for the 1st Quarter 1998 
                             Form 10-Q.