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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549
                                 AMENDMENT NO. 1
                                   FORM 10-KSB

Mark One:

     [X]  Annual  Report  pursuant  to  Section  13 or 15(d)  of the  Securities
     Exchange Act of 1934. For the fiscal year ended December 31, 1998; or

     [ ]  Transition  Report  pursuant to Section 13 or 15(d) of the  Securities
     Exchange  Act  of  1934  For  the  transition  period  from  __________  to
     __________.

                           COMMISSION FILE NO. 0-18754

                          BLACK WARRIOR WIRELINE CORP.
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                 (Name of Small Business Issuer in its Charter)

DELAWARE                                                              11-2904094
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(State or Other Jurisdiction of                                    (IRS Employer
Incorporation or Organization)                               Identification No.)

3748 HIGHWAY #45 NORTH, COLUMBUS, MISSISSIPPI                              39701
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(Address of Principal Executive Offices)                              (Zip Code)

                                 (601) 329-1047
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                (Issuer's Telephone Number, Including Area Code)

    Securities Registered Pursuant to Section 12(b) of the Exchange Act: NONE

      Securities Registered Pursuant to Section 12(g) of the Exchange Act:
                              (Title of Each Class)
                    COMMON STOCK, PAR VALUE $.0005 PER SHARE

Check  whether the Issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange Act during the past twelve (12) months (or for such
shorter period that the Issuer was required to file such  reports),  and (2) has
been subject to such filing  requirements for the past ninety (90) days. [X] Yes
[ ] No

Check if there is no disclosure of delinquent  filers in response to Item 405 of
Regulation S-B in this form, and no disclosure will be contained, to the best of
Issuer's knowledge,  in definitive proxy or information statements  incorporated
by  reference  in Part III of this Form  10-KSB,  or any  amendment to this Form
10-KSB. [X]

     State Issuer's revenues for its most recent fiscal year: $34,436,553
     State the aggregate market value of the voting stock held by non-affiliates
     as of March 31, 1999:
          COMMON STOCK, PAR VALUE $.0005 PER SHARE, $3,966,694
     (Non-affiliates  have been  determined  on the basis of holdings  set forth
under Item 11 of this Annual Report on Form 10-KSB.)
     Indicate the number of shares  outstanding of each of the Issuer's  classes
of common equity, as of the latest practicable date:
          Class: COMMON STOCK, PAR VALUE $.0005 PER SHARE
          Outstanding at March 31, 1999: 3,942,831 SHARES

                       DOCUMENTS INCORPORATED BY REFERENCE

     No documents are  incorporated by reference into this Annual Report on Form
10-KSB

            Transitional Small Business Issuer Format: [ ] Yes [X] No

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ITEM 13.  EXHIBITS AND REPORTS ON FORM 8-K

     (a)  Exhibits

          The Exhibits required by Regulation S-B are set forth in the following
list and are filed either by  incorporation  by reference from previous  filings
with the  Securities  and Exchange  Commission  or by  attachment to this Annual
Report on Form 10-KSB as so indicated in such list.

 Exhibit      Designation
 -------      -----------

     27   Financial Data Schedule.




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                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) 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.

         Dated: May 11, 1999

                                                   BLACK WARRIOR WIRELINE CORP.

                                                By: /s/ William L Jenkins
                                                   -----------------------------
                                                   William L. Jenkins, President

     Pursuant to the  requirements of the Securities  Exchange Act of 1934, this
Report  has  been  signed  below  by the  following  persons  on  behalf  of the
Registrant and in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
Signature                                            Capacity                                    Date
---------                                            --------                                    ----

<S>                                          <C>                                            <C> 
/s/ William L. Jenkins                       President (Principal Executive,                May 11, 1999
---------------------------                    Financial and Accounting Officer)
William L. Jenkins                             and Director

/s/ John L. Thomspon                         Director                                       May 11, 1999
---------------------------
John L. Thompson

/s/ Charles E. Underbrink                    Director                                       May 11, 1999
---------------------------
Charles E. Underbrink
</TABLE>