UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

                                QUARTERLY REPORT
                            UNDER SECTION 13 OR 15(d)
                     OF THE  SECURITIES  EXCHANGE ACT OF 1934
               For the quarterly period ended September 30, 2000


                         Commission file number 0-19766


                          HOME-STAKE OIL & GAS COMPANY
        (Exact name of small business issuer as specified in its charter)


               Oklahoma                                   73-0288030
    (State or other jurisdiction of                    (I.R.S. Employer
    incorporation or organization)                     Identification No.)


                         15 East 5th Street, Suite 2800
                              Tulsa, Oklahoma 74103
                    (Address of principal executive offices)


                                 (918) 583-0178
                         (Registrant's telephone number)



     Check whether the issuer (1) has filed all reports  required to be filed by
Section 13 or 15(d) of the  Securities  Exchange  Act of 1934 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 | |

     The number of shares  outstanding of the Registrant's  common stock, all of
which comprise a single class with $ .01 par value, as of November 13, 2000, the
latest practicable date, was 4,353,827.



                                      - 1 -

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                          HOME-STAKE OIL & GAS COMPANY

                                   FORM 10-QSB
                               SEPTEMBER 30, 2000

                                TABLE OF CONTENTS

                                                                          Page
PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

         Condensed Balance Sheets - September 30, 2000 and
           December 31, 1999............................................    4

         Condensed Statements of Income and Retained
           Earnings - nine months ended September 30, 2000 and 1999 ....    5

         Condensed Statements of Income and Retained
           Earnings - three months ended September 30, 2000 and 1999 ...    6

         Condensed Statements of Cash Flows - nine months ended
          September 30, 2000 and 1999 ..................................    7

         Notes to Condensed Financial Statements .......................    8

Item 2.  Management's Discussion and Analysis of Financial Condition and
           Results of Operations .......................................    11


PART II - OTHER INFORMATION

Item 1.    Legal Proceedings ...........................................    14

Item 2.    Changes in Securities........................................    14

Item 3.    Defaults upon Senior Securities .............................    14

Item 4.    Submission of Matters to a Vote of Security Holders .........    14

Item 5.    Other Information ...........................................    14

Item 6.    Exhibits and Reports on Form 8-K ............................    14

SIGNATURES .............................................................    15


                                      - 2 -

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                         PART I - FINANCIAL INFORMATION

                          Item 1. Financial Statements.

                                      - 3 -

<PAGE>



                          HOME-STAKE OIL & GAS COMPANY
                            CONDENSED BALANCE SHEETS
                                   (Unaudited)



                                     ASSETS

                                                   September 30,    December 31,
                                                       2000            1999
                                                       ----            ----
Current assets:
  Cash and cash equivalents.....................   $    491,611    $     84,458
  Accounts receivable...........................      1,964,936       1,746,062
  Prepaid expenses..............................        195,900         140,810
                                                   ------------    ------------
         Total current assets...................      2,652,447       1,971,330

Property and equipment, at cost:................     52,868,488      49,821,238
    Less accumulated depreciation,
     depletion and amortization.................     28,013,911      26,856,930
                                                   ------------    ------------
         Net property and equipment.............     24,854,577      22,964,308

Other assets....................................          5,624         247,382
                                                   ------------    ------------
                                                   $ 27,512,648    $ 25,183,020
 ..................................................============    ============




                      LIABILITIES AND STOCKHOLDERS' EQUITY


Current liabilities:
  Accounts payable and accrued liabilities......   $    970,712    $  1,097,442
  Income taxes payable..........................        500,182         368,353
  Current note payable..........................              -       1,200,000
                                                   ------------    ------------
         Total current liabilities..............      1,470,894       2,665,795

Long-term note payable..........................              -       1,300,000

Deferred income taxes...........................      3,944,428       3,362,953

Stockholders' equity:
  Preferred stock, $1 par value -
    2,000,000 shares authorized; none issued
  Common stock, $ .01 par value -
     12,000,000 shares authorized,
     4,597,363 shares issued....................         45,974          45,974
  Additional paid-in capital....................     15,855,821      15,855,821
  Retained earnings.............................      7,503,587       3,260,533
                                                   ------------    ------------
                                                     23,405,382      19,162,328
  Less treasury stock, at cost - 243,536 shares.     (1,308,056)     (1,308,056)
                                                   ------------    ------------
         Total stockholders' equity.............     22,097,326      17,854,272
                                                   ------------    ------------
                                                   $ 27,512,648    $ 25,183,020
                                                   ============    ============

                             See accompanying notes.

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                          HOME-STAKE OIL & GAS COMPANY
                         CONDENSED STATEMENTS OF INCOME
                              AND RETAINED EARNINGS
                  Nine months ended September 30, 2000 and 1999
                                   (Unaudited)



                                                      2000              1999
                                                      ----              ----

Revenues:
  Oil and gas sales.............................   $ 13,211,959    $  7,813,713
  Gain on sales of assets.......................         37,016         187,147
  Other income..................................        344,222         183,785
                                                   ------------    ------------
                                                     13,593,197       8,184,645

Costs and expenses:
  Production....................................      2,754,159       2,245,257
  Exploration...................................        398,474          66,148
  General and administrative....................      1,630,199       1,211,130
  Depreciation, depletion and amortization......      1,482,527       2,152,361
  Interest......................................        125,795         313,369
  Property and other taxes......................        165,421         183,958
                                                   ------------    ------------
                                                     6,556,575       6,172,223

Income before provision for income taxes........      7,036,622       2,012,422

Provision for income taxes:
  Current.......................................      1,624,326         252,622
  Deferred......................................        581,475         335,824
                                                   ------------    ------------
                                                      2,205,801         588,446
                                                   ------------    ------------
Net income......................................      4,830,821       1,423,976

Retained earnings at beginning of year..........      3,260,533       1,272,945

Cash dividends ($.135 per share - 2000,
      $ .06 per share - 1999)...................       (587,767)       (256,430)
                                                   ------------    ------------

Retained earnings at end of period..............   $  7,503,587    $  2,440,491
                                                   ============    ============

Weighted average number of common
     shares outstanding:
          Basic... .............................      4,353,827       4,273,827
                                                   ============    ============
          Diluted...............................      4,494,075       4,273,827
                                                   ============    ============

Net income per common share:
  Basic.........................................          $1.11           $ .33
                                                          =====           =====
  Diluted.......................................          $1.07           $ .33
                                                          =====           =====

                             See accompanying notes.

                                      - 5 -

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                          HOME-STAKE OIL & GAS COMPANY
                         CONDENSED STATEMENTS OF INCOME
                              AND RETAINED EARNINGS
                 Three months ended September 30, 2000 and 1999
                                   (Unaudited)



                                                      2000              1999
                                                      ----              ----

Revenues:
  Oil and gas sales.............................   $  5,199,380    $  3,287,603
  Gain (loss) on sales of assets................         (6,611)        143,011
  Other income..................................        211,179          56,151
                                                   ------------    ------------
                                                      5,403,948       3,486,765

Costs and expenses:
  Production....................................        953,773         723,291
  Exploration...................................         64,457          12,393
  General and administrative....................        547,813         380,239
  Depreciation, depletion and amortization......        424,376         704,161
  Interest......................................         41,218          94,658
  Property and other taxes......................         55,040          68,738
                                                   ------------    ------------
                                                      2,086,677       1,983,480

Income before provision for income taxes........      3,317,271       1,503,285

Provision for income taxes:
  Current.......................................        790,811         188,266
  Deferred......................................        287,595         269,596
                                                   ------------    ------------
                                                      1,078,406         457,862
                                                   ------------    ------------
Net income......................................      2,238,865       1,045,423

Retained earnings at beginning of period........      5,482,413       1,480,545

Cash dividends ($.05 per share - 2000,
     $ .02 per share - 1999)....................       (217,691)        (85,477)
                                                   ------------    ------------

Retained earnings at end of period..............   $  7,503,587    $  2,440,491
                                                   ============    ============

Weighted average number of common
     shares outstanding:
          Basic.................................      4,353,827       4,273,827
                                                   ============    ============
          Diluted...............................      4,494,075       4,273,827
                                                   ============    ============

Net income per common share:
  Basic.........................................          $ .51           $ .24
                                                          =====           =====
  Diluted.......................................          $ .50           $ .24
                                                          =====           =====
                             See accompanying notes.

                                      - 6 -

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                          HOME-STAKE OIL & GAS COMPANY
                       CONDENSED STATEMENTS OF CASH FLOWS
                  Nine months ended September 30, 2000 and 1999
                                   (Unaudited)



                                                      2000              1999
                                                      ----              ----

Operating activities:
  Oil and gas sales, net of production taxes....   $ 11,813,783    $  7,351,549
  Other.........................................        344,222         183,785
                                                   ------------    ------------
                                                     12,158,005       7,535,334

  Cash paid to suppliers and employees..........      3,017,623       2,998,453
  Interest paid.................................        125,795         313,369
  Property and other taxes......................        165,421         183,958
  Income taxes paid.............................      1,492,497       (258,144)
                                                   ------------    ------------
                                                      4,801,336       3,237,636
                                                   ------------    ------------
    Net cash provided by operating activities...      7,356,669       4,297,698


Investing activities:
  Proceeds from sales of
    property and equipment......................        87,685         559,575
  Acquisition of property and equipment.........     (3,950,425)     (1,981,423)
                                                   ------------    ------------
    Net cash used in investing activities.......     (3,862,740)     (1,421,848)


Financing activities:
  Loan proceeds.................................              -         735,000
  Note payments.................................     (2,500,000)     (3,450,000)
  Cash dividends paid...........................       (586,776)       (255,177)
                                                   ------------    ------------
    Net cash used in financing activities.......     (3,086,776)     (2,970,177)
                                                   ------------    ------------

Net increase (decrease) in cash and
     cash equivalents...........................        407,153        (94,327)

Cash and cash equivalents at beginning of year..         84,458         212,031
                                                   ------------    ------------

Cash and cash equivalents at end of period......   $    491,611    $    117,704
                                                   ============    ============

                             See accompanying notes.

                                      - 7 -

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                          HOME-STAKE OIL & GAS COMPANY
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (Unaudited)


Description of business

Home-Stake Oil & Gas Company ("HSOG" or the "Company") is an independent oil and
gas producer actively engaged in the acquisition,  exploration,  development and
production of oil and gas  properties.  Oil and gas  exploration  and production
activities are subject to numerous risks inherent in the business. These include
the volatility of oil and gas prices,  environmental  concerns and  governmental
regulations,  general  business risks and hazards  involving the acquisition and
operation  of oil and gas  properties,  the  ability  to  continue  to find  new
reserves to replace those being  depleted and the highly  competitive  nature of
the business.  Its principal geographic operating areas lie within the states of
Oklahoma, Montana, New Mexico and Texas.

Note 1 - General

The unaudited financial  information provided in this report includes all normal
recurring  adjustments  which are, in the opinion of  management,  necessary  to
fairly present the financial  position,  results of operations and cash flows of
the Company.  Certain information and footnote  disclosures normally included in
financial  statements  prepared in accordance with generally accepted accounting
principles  have been  omitted  or  condensed.  The  Company  believes  that the
disclosures   herein  are  adequate  to  make  the  information   presented  not
misleading;  however,  these financial  statements should be read in conjunction
with the audited financial  statements and related notes thereto included in the
Company's Annual Report on Form 10-KSB for the year ended December 31, 1999.

The results for interim periods are not  necessarily  indicative of trends or of
results to be expected for the full year.

Note 2 - Net income per share

Basic net income per share is calculated  based on the  weighted-average  shares
outstanding  during  the  period.  Diluted  net income  per share  includes  the
dilutive effect of stock options.  Options to purchase  275,650 shares of common
stock at an exercise price of $4.50 per share were  outstanding at September 30,
1999,  but were not included in the  computation  of 1999 diluted net income per
share as their inclusion would be anti-dilutive.

Note 3 - Notes payable

The Company  has a revolving  term  line-of-credit  in the amount of  $5,000,000
available until June 30, 2001 which provides for monthly payments of interest on
the  outstanding  borrowings at bank prime less 1%. In connection with this line
of credit,  the  Company has issued a letter of credit in the amount of $25,000,
which is guaranteed by this line, and pays a commitment fee of  three-eights  of
one per cent (3/8%) per annum on the unused portion of the line.

Note 4 - Contingencies

The Company is involved in various legal actions arising in the normal course of
business. In the opinion of management,  the Company's  liabilities,  if any, in
these  matters  will not  have a  material  effect  on the  Company's  financial
position, results of operations or cash flows.


                                      - 8 -

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                          HOME-STAKE OIL & GAS COMPANY
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (Unaudited)


Note 5 - Derivative Instruments

On  September  21,  2000,  the Company  entered  into what is known as "cashless
collar" hedging arrangements for a portion of its oil and natural gas production
for the  remainder  of this year and each of the next two  years.  A collar is a
hedge that has a ceiling  price and a floor  price.  If the  particular  product
price stays between the ceiling and floor  prices,  then no payments are made by
either  party  under a collar.  The terms  "Put Floor  Price" and "Call  Ceiling
Price"  refer to the prices at which the Company has hedged its  production  and
are expressed in the calendar  monthly average of daily NYMEX closing prices for
West Texas  Intermediate  Crude Oil or monthly NYMEX (Henry Hub) closing  prices
for natural gas. The significant  terms of these  arrangements are summarized as
follows:


                                 Oil Production
                                                        Put          Call
                                          Monthly    Floor Price  Ceiling Price
                           Period         Volume      (per Bbl)     (per Bbl)
                         ----------       ------    ------------- -----------
October  - December 2000.............. 20,000 Bbls     $ 32.00       $ 36.00
January - June 2001................... 22,000 Bbls     $ 28.00       $ 34.60
July 2001 - December 2002............. 15,000 Bbls     $ 25.00       $ 28.20



                                 Gas Production
                                                         Put          Call
                                          Monthly    Floor Price  Ceiling Price
                           Period         Volume     (per MMbtu)   (per MMbtu)
                         ----------       ------    ------------- ------------
October - December 2000..............  70,000 MMbtu    $ 4.50        $ 6.95
January - December 2001.............. 100,000 MMbtu    $ 4.00        $ 5.85
January - December 2002..............  80,000 MMbtu    $ 3.50        $ 4.78

At  September  30,  2000  there were no  amounts  due to or from the  Company in
connection with these arrangements.

Note 6 - Subsequent Events

On October 3, 2000, the Company  announced that it had entered into a definitive
agreement  to be acquired  by Cortez Oil & Gas,  Inc.,  headquartered  in Plano,
Texas.  The  agreement,  which is subject to  shareholder  approval at a special
meeting of  shareholders  scheduled  for  December  11,  2000,  provides for all
shareholders to receive $11.00 per share for all of their outstanding shares.


                                      - 9 -

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                          HOME-STAKE OIL & GAS COMPANY
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                   (Unaudited)


Note 7 - Recent Accounting Standards

Statement of Financial  Accounting  Standards  (SFAS) No. 133,  "Accounting  for
Derivative Instruments and Hedging Activities" and SFAS No. 138, "Accounting for
Certain  Derivative   Instruments  and  Certain  Hedging  Activities"  establish
accounting and reporting standards for derivative financial  instruments.  These
standards  become  effective  on January 1, 2001 and will require the Company to
record its hedging  arrangements  on the balance sheet at their fair value.  The
Company  believes  its  hedging  arrangements  described  above will  qualify as
variable cash flow hedges under the standards with a significant  portion of the
gains and losses deferred in other comprehensive income.

Based on current  conditions,  the Company believes the impact of adopting these
standards will be immaterial to its financial  condition and earnings.  However,
changing market conditions could cause this assessment to change.



                                     - 10 -

<PAGE>



Item 2. Management's  Discussion and Analysis of Financial Condition and Results
        of Operations.

Results of  Operations  - First  Nine  months of 2000  compared  with first nine
months of 1999

Net income for the nine months ended  September 30 increased  $3,406,845  (239%)
from  $1,423,976 in 1999 to $4,830,821 in 2000.  The principal  reasons for this
increase are as follows:

Oil sales  increased  $3,533,418  (91%) in 2000.  The Company's  oil  production
increased from 266,048  barrels in 1999 to 268,070 barrels in 2000. In addition,
the  average  price of crude oil  increased  from  $15.24  per barrel in 1999 to
$27.70 per barrel in 2000.

Gas sales increased 47% ($1,800,176), primarily due to higher average gas prices
which  increased  from  $1.88  per Mcf in 1999 to  $3.16  per Mcf in  2000.  Gas
production  decreased  from  1,954,893  Mcf in 1999 to  1,789,775  Mcf in  2000,
primarily  resulting  from a  negative  adjustment  of  131,637  Mcf  ($258,665)
associated with the underpayment of certain royalty interests.

Production expenses increased $508,902,  due primarily to a $379,480 increase in
production taxes attributable to the higher oil and gas sales described above.

Exploration costs increased  $332,326 in 2000. Dry hole costs increased $280,205
in 2000 due primarily to costs  associated  with an exploratory dry hole drilled
by the Company in the second  quarter.  There were no comparable  costs in 1999.
Condemned and abandoned property expense also increased  $52,121,  due primarily
to unamortized  costs  resulting from the depletion of reserves in the producing
zone on a well in which the Company elected not to participate in a recompletion
attempt of a secondary formation.

General and administrative  expenses increased $419,069, from $1,211,130 in 1999
to $1,630,199  in 2000.  This  increase is primarily  attributable  to the costs
associated with the Company's hiring of an investment  banking firm to assist it
in reviewing  various strategic  alternatives to maximize  shareholder value and
improve shareholder liquidity, and higher legal fees and directors' expenses.

Depreciation,  depletion and amortization decreased $669,834. The net book value
of each  producing oil and gas property is amortized  over the estimated life of
the related oil and gas  reserves.  At the end of 1999,  the Company  recognized
significant  increases in the estimated oil and gas reserves on many properties,
primarily as a result of the increases in product  prices that  occurred  during
the year.  These  increases had the effect of lowering the rates of amortization
for most producing properties.

Interest  expense  decreased  $187,574  in  2000  due to the  lower  outstanding
borrowings for the year as compared to 1999.

The Company's effective tax rate in 2000 was 31%, compared to 29% in 1999 due to
the full utilization in 1999 of certain statutory depletion carryforwards.

Results of Operations - Third quarter 2000 compared with third quarter 1999

Net income for the third quarter increased  $1,193,442 (114%) from $1,045,423 in
1999 to  $2,238,865  in 2000.  The  principal  reasons for this  increase are as
follows:

Oil sales increased  $971,013 (60%).  The Company's  average oil price increased
from $19.92 per barrel in 1999 to $30.73 per barrel in 2000.  This  increase was
partially  offset by lower oil production which decreased 6% from 89,780 barrels
in 1999 to 84,431 barrels in 1999.


                                     - 11 -

<PAGE>



Gas sales increased 57%  ($925,239),  primarily due to higher natural gas prices
which  increased  from  $2.27  per Mcf in 1999 to $4.21  per Mcf in  2000.  This
increase was partially offset by lower natural gas production which decreased 6%
from 646,639 Mcf in 1999 to 606,870 Mcf in 2000.

Production  expenses  increased  $230,482,  due  primarily  to  an  increase  in
production taxes attributable to the higher oil and gas sales described above.

Exploration costs increased $52,064 in 2000. Dry hole costs increased $12,905 in
2000 due to a higher  incidence of dry holes.  Condemned and abandoned  property
expense also increased $39,159.

General and  administrative  expenses increased $167,574 (44%), from $380,239 in
1999 to $547,813 in 2000.  This  increase is  primarily  attributable  to higher
legal fees and directors'  expenses,  along with the costs  associated  with the
Company's hiring of an investment banking firm to assist it in reviewing various
strategic  alternatives to maximize  shareholder  value and improve  shareholder
liquidity.

Depreciation,  depletion and amortization decreased $279,785. The net book value
of each  producing oil and gas property is amortized  over the estimated life of
the related oil and gas  reserves.  At the end of 1999,  the Company  recognized
significant  increases in the estimated oil and gas reserves on many properties,
primarily as a result of the increases in product  prices that  occurred  during
the year.  These  increases had the effect of lowering the rates of amortization
for most producing properties.

Interest  expense  decreased  $53,440  in  2000  due  to the  lower  outstanding
borrowings for the year as compared to 1999.

Merger Agreement

On October 3, 2000,  the  Company  entered  into a  definitive  agreement  to be
acquired by Cortez Oil & Gas, Inc.,  ("Cortez")  headquartered in Plano,  Texas.
The agreement,  which is subject to shareholder approval at a special meeting of
shareholders  scheduled for December 11, 2000,  provides for all shareholders to
receive $11.00 per share for all of their outstanding shares.

The  merger  agreement  was  unanimously  approved  by the  Company's  Board  of
Directors and is subject to customary closing conditions, including the approval
of the Company's shareholders.  The current directors of the Company and certain
of their spouses,  who own  approximately  21.1% of the Company's  shares,  have
entered  into  agreements  to  vote  for  the  merger.  Pursuant  to the  merger
agreement,  no more cash  dividends  will be paid on the  Company's  outstanding
shares and the current  officers and directors  will resign  effective  upon the
closing of the transaction.

If the merger agreement is terminated by the Company because the Board withdraws
its  recommendation or the shareholders fail to approve the merger,  the Company
must pay Cortez a termination fee of $2 million.

Additional  information  relating to the merger is  contained  in the  Company's
proxy statement  which was mailed to shareholders  and filed with the Securities
and Exchange Commission on November 6, 2000.

Financial Condition and Liquidity

The Company's operating activities have traditionally been self-financed through
internally  generated cash flows.  The principal use of cash flows has generally
been to fund the Company's  exploration  and  production  activities and for the
payment of dividends to  stockholders.  The use of borrowed  funds has generally
been limited to the acquisition of producing oil and gas properties where future
revenues from such purchases are expected to fund the debt.

The Company's capital  exploration  budget for 2000 is $5.5 million.  During the
first  nine  months  of  2000,  the  Company  had  exploration  expenditures  of
approximately $2.7 million and has remaining drilling  commitments for 2000/2001
of  approximately  $1.6  million.  In  June  2000,  the  Company  exercised  its



                                     - 12 -

<PAGE>



preferential purchase right to acquire an additional interest in a developmental
Texas prospect  operated by the Company.  Cost for this additional  interest was
approximately $847,500.

There was a working  capital  surplus at September 30, 2000 of  $1,181,553.  The
Company's working capital and internally generated cash flows are expected to be
sufficient to finance the Company's  remaining  budgeted  2000  exploration  and
development activities. In addition, the Company has a $5 million revolving line
of credit  available  until June 30, 2001.  There are no outstanding  borrowings
under this line of credit at November 13, 2000,  however the line does guarantee
the payment of a $25,000 letter of credit.

Inflation

In recent years  inflation  has not had a  significant  impact on the  Company's
operations or financial  condition.  The general economic pressures limiting oil
and gas prices in recent years have generally been  accompanied by corresponding
downward pressure on costs to develop and operate oil and gas properties as well
as the costs of drilling and  completing  wells.  The impact of inflation on the
Company in the future  will  depend on the  relative  increases,  if any, in the
selling price of oil and gas and in the  Company's  operating,  development  and
drilling costs.

Forward-Looking Statements

Certain  statements  included in this report which are not historical  facts are
"forward-looking  statements",  including statements with respect to oil and gas
reserves,  the  number  and  anticipated  costs of wells to be  drilled,  future
capital expenditures (including the amount and nature thereof), anticipated date
of repayment of bank debt,  proposed  merger with Cortez and other such matters.
These forward-looking  statements are based on current expectations,  estimates,
assumptions and beliefs of management; and words such as "expects",  "believes",
"anticipates",  "intends",  "plans"  and  similar  expressions  are  intended to
identify  such  forward-looking  statements.  These  forward-looking  statements
involve risks and uncertainties,  including, but not limited to: dependence upon
the prices for oil and  natural  gas which  prices  are  subject to  significant
fluctuations  in response to  relatively  minor changes in supply and demand for
such  products,  market  uncertainty,  political  conditions  in  oil  producing
regions, domestic and foreign government regulations, the price and availability
of  alternative  fuels  and a  variety  of  other  factors;  competition  in the
acquisition  of oil  and gas  properties  and the  development,  production  and
marketing of oil and natural gas;  operating hazards  typically  associated with
the exploration,  development,  production and transportation of oil and natural
gas;  federal,  state and local laws relating to the  exploration,  development,
production  and marketing of oil and natural gas,  including  environmental  and
safety  matters;  changes in laws and  regulations;  and other factors,  most of
which are beyond the control of the  Company.  Accordingly,  actual  results and
developments may differ  materially from those expressed in the  forward-looking
statements.  The Company  assumes no obligation to update  publicly any forward-
looking  statements,  whether as a result of new  information,  future events or
otherwise.


                                     - 13 -

<PAGE>



                           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.

           (a)  Exhibits.

           The following documents are included as exhibits to this Form 10-QSB.
           Those exhibits below  incorporated by reference  herein are indicated
           as such by the information supplied in the parenthetical  thereafter.
           If no parenthetical  appears after an exhibit,  such exhibit is filed
           herewith.

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

               2    Agreement and Plan of Merger  between the Company and Cortez
                    Oil & Gas, Inc. dated October 3, 2000 (filed as Exhibit 2 to
                    the  Company's  Current  Report on Form 8-K dated October 3,
                    2000).

               27   Financial Data Schedule.

           (b)  Reports on Form 8-K.

                 A Report on Form 8-K,  dated October 3, 2000, was filed October
                 4, 2000,  reporting  under Item 5 that the  Company had entered
                 into an  Agreement  and Plan of Merger  with  Cortez Oil & Gas,
                 Inc.  ("Cortez")  pursuant  to which  Cortez  will  acquire the
                 Company.

                 A Report on Form 8-K, dated October 10, 2000, was filed October
                 10,  2000,  reporting  under Item 5 the  proposed  merger  with
                 Cortez and filing under Item 7 the Agreement and Plan of Merger
                 with Cortez.


                                     - 14 -

<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.


                                       Home-Stake Oil & Gas Company
                                           (Registrant)


Date: November 14, 2000                By:    /s/  Robert C. Simpson
                                           -----------------------------
                                            Robert C. Simpson
                                            Chairman of the Board, C.E.O.
                                            and President


Date: November 14, 2000                By:    /s/  Chris K. Corcoran
                                           -----------------------------
                                            Chris K. Corcoran
                                            Executive Vice President,
                                            Chief Financial Officer and
                                            Corporate Secretary



                                     - 15 -

<PAGE>


                                INDEX OF EXHIBITS


The  following  documents  are included as exhibits to this Form  10-QSB.  Those
exhibits  below  incorporated  by reference  herein are indicated as such by the
information  supplied  in  the  parenthetical  thereafter.  If no  parenthetical
appears after an exhibit, such exhibit is filed herewith.

     Exhibit
     Number       Description

          2    Agreement and Plan of Merger between the Company and Cortez Oil &
               Gas,  Inc.  dated  October  3, 2000  (filed  as  Exhibit 2 to the
               Company's Current Report on Form 8-K dated October 3, 2000).

          27   Financial Data Schedule.


                                     - 16 -

<PAGE>