SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 10-QSB

Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange 
Act of 1934

For the quarter ended September 30, 1997

Commission File No.  0-24684

LONE WOLF ENERGY, INC.
(Name of small business issuer in its charter)

K&S VENTURES, INC.
(Former name of small business issuer)

Colorado
(State or other jurisdiction of Incorporation or Organization)

84-1214336
(IRS Employer Identification Number )

8908 South Yale Avenue, Suite 409
Tulsa, OK  74137
(918) 481-0167
(Address, including zip code and telephone number, including area 
code of registrant's executive offices)

Securities registered under Section 12 (b) of the Exchange Act:  none

Securities registered under Section 12 (g) of the Exchange Act:

Common Stock
(Title of class)

Check whether the issuer (1) 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 _______

The number of shares of the Registrant's only class of common stock issued 
and outstanding, as of October 31, 1997, was 4,250,000 shares.

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<PAGE>
PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

LONE WOLF ENERGY, INC.
BALANCE SHEETS
SEPTEMBER 30, 1997 AND DECEMBER 31, 1996
(Unaudited)
 
                                   September 30,       December 31,
                                           1997               1996

ASSETS
Total Assets                                  0                  0
                                        --------          ---------
LIABILITIES AND STOCKHOLDERS' EQUITY
Total Liabilities                             0                  0

Stockholders' Equity:
   Common Stock- $0.001 par value
   100,000,000 shares authorized, 
   4,250,000 and 42,500 shares
   issued and outstanding at June 30,
   1997 and December 31, 1996(A), 
   respectively                           4,250                425
   Paid in Capital(A)                    15,307             19,132
   Accumulated Deficit                  (19,557)           (19,557)
                                        --------           --------
Total stockholders' equity                    0                  0
                                        --------           --------
Total Liabilities and Equity                  0                  0
                                        --------           --------

(A) As adjusted for common stock dividend, declared June 30, 1997, resulting
in each shareholder of the Company holding 42.5 shares for each share of
Common Stock, $0.001 par value, held on the Record Date.

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<PAGE>
K&S VENTURES, INC.
STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996
(Unaudited)
 
                     Three months ended         Six months ended
                     Sept 30,    Sept 30,      Sept 30,    Sept 30,
                        1997        1996          1997        1996
                    ---------  ---------      --------    --------

Revenue                    0           0             0           0

Expenses                   0           0             0           0
                    ---------  ---------      --------    --------

Net Income (Loss)          0           0             0           0

Earnings per share     $0.00       $0.00         $0.00       $0.00
                    ---------  ---------      --------    --------


LONE WOLF ENERGY, INC.
STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996
(Unaudited)
 
                                    September 30,       September 30,
                                            1997                1996
                                        --------             -------- 

Operating Activities
   Net income                                  0                   0

Financing Activities
   Sale of Common Stock                  100,000                   0
   Less:  Issue Costs                   (100,000)                  0

Investing Activities                           0                   0 
                                        ---------           ---------
Change in cash                                 0                   0
Cash at beginning of period                    0                   0
                                        ---------           ---------
Cash at end of period                          0                   0
                                        ---------           ---------

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<PAGE>
                              
Item 2.  Management's Discussion and Analysis or Plan of Operation

During the first quarter of 1997, the Company issued 90,000 shares of 
common stock to Lone Wolf Exploration, Inc., a privately-held Oklahoma 
corporation ("Lone Wolf"), in exchange for $100,000 in cash.  The 
transaction resulted in Lone Wolf owning 90% of the issued and outstanding 
common stock of the Registrant. In connection with the purchase of common stock 
by Lone Wolf, the Registrant has adopted a business plan involving the 
purchase of producing oil and gas properties and the acquisition of companies
in oil and gas related businesses. 

On June 30, 1997, the Board of Directors declared a stock dividend for the 
purposes of increasing the number of outstanding shares of Common Stock of 
the Company held by the Company's current stockholders.  The share dividend
declared by the Directors will result in each stockholder of the Company 
holding 42.5 shares for each share of Common Stock, $0.01 par value, held on 
the Record Date.  The stock dividend will require no payment by the 
stockholders of the Company.  As a result of the share dividend, the Company
now has 4,250,000 shares of common stock outstanding.
 
  
PART II.  OTHER INFORMATION

Item 1.  Legal Proceedings

Not Applicable

Item 2.  Changes in Securities

Not Applicable

Item 3.  Defaults Upon Senior Securities

Not Applicable

Item 4.  Submission of Matters to a Vote of Security Holders

Not Applicable

Item 5.  Other Information

On August 28, 1997, the Board of Directors of Lone Wolf Exploration, Inc.,
an Oklahoma corporation and legal and beneficial owners of 3,825,000 shares
of common stock, par value $0.001 per share ("Common Stock"), of the 
Registrant declared a stock dividend to the shareholders of record of
Lone Wolf Exploration, Inc. as of August 29, 1997, payable August 29, 1997,
subject to the applicable filing requirements of the states where 
shareholders of Lone Wolf Exploration, Inc. reside, in the form of all of
the 3,825,000 shares of the Registrant owned by Lone Wolf Exploration, Inc.
on a pro-rata basis.  The stock dividend resulted in each shareholder of
Lone Wolf Exploration, Inc. receiving one (1) share of Common Stock for each 
share of common stock of Lone Wolf Exploration, Inc. owned by such 
shareholder.  On August 29, 1997, all 3,825,000 shares of Common Stock of
the Registrant owned by Lone Wolf Exploration, Inc. were distributed to the
shareholders of Lone Wolf Exploration, Inc.; provided however, that 113,000
shares of Common Stock were retained by Lone Wolf Exploration, Inc. pending
compliance with the applicable filing requirements pursuant to the state
securities laws of the states of New York, Alabama and Arkansas.

As a result of the stock dividend, no other party except the following person
is known to the management of the Registrant to be the beneficial owner of
5% or more of the Registrant's issued and outstanding shares of Common Stock.
Upon completion of the stock dividend, William G. Morgan owned 350,000 shares
of Common Stock, constituting approximately 8.24% of all of the issued and
outstanding shares of Common Stock.

Item 6.  Exhibits and Reports on Form 8-K

Exhibits.
     None

Reports on Form 8-K.
     
Form 8-K, dated August 29, 1997, was filed as a result of the Registrant's
stock dividend.

Page 5 of 7

<PAGE>
SIGNATURES

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

							LONE WOLF ENERGY, INC.

							/s/  RHONDA R. VINCENT
							______________________________________
							By:  Rhonda R. Vincent, Treasurer


Date:  November 17, 1997



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