<PAGE>

                           U.S. SECURITIES AND EXCHANGE COMMISSION
                                     Washington, D.C.  20549

                                            FORM 10-QSB/A


OMB Approval
OMB Number:  xxxx-xxxx
Expires:  Approval Pending
Estimated Average Burden Hours per Response:  1.0

(Mark One)

(xx) Quarterly report under Section 13 or 15(d) of the Securities
     Exchange Act of 1934

For the quarterly period ended:	September 30, 2003

(  ) Transition report under Section 13 or 15(d) of the Exchange Act

For the transition period from ___________ to __________

Commission File number:		0-3912

                            PETROL INDUSTRIES, INC.
                            -----------------------
    (Exact Name of Small Business Issuer as Specified in its Charter)

            NEVADA                             75-1282449
            ------                             ----------
(State or Other Jurisdiction of     (IRS Employer Identification Number)
 Incorporation of Organization)

            202 N. THOMAS, SUITE 4          SHREVEPORT, LA  71107-6539
            ----------------------------------------------------------
                     (Address of Principal Executive Offices)

                                 (318) 424-6396
                                 --------------
                (Issuer's Telephone Number, Including Area Code)

                                     N/A
                                     ---
              (Former Name, Former Address and Former Fiscal Year,
                            if Changed Since Last Report)

    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 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  (xx)    No (   )


                     APPLICABLE ONLY TO ISSUERS INVOLVED IN
                       BANKRUPTCY PROCEEDINGS DURING THE
                              PRECEDING FIVE YEARS

	Check whether the registrant filed all documents and reports
required to be filed by Section 12, 13, or 15(d) of the Exchange Act
after the distribution of securities under a plan confirmed by a court.

	Yes (   )   No (   )

                           APPLICABLE ONLY TO CORPORATE ISSUERS

	State the number of shares outstanding of each of the issuer's
classes of common equity, as of the latest practicable date:  1,597,196


<PAGE>
<TABLE>

                                PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

                           PETROL INDUSTRIES, INC. & SUBSIDIARIES
                                Consolidated Balance Sheets

                                                      September 30,   December 31,
                                                          2003            2002
                                                      -------------   ------------


                                                   <c>              <c>
                    ASSETS
                    ------
Current assets:
  Cash and cash equivalents                            $   58,131         47,405
  Accounts receivable:
    Trade                                                  52,529         33,246
    Other		                                          9,498          9,498
                                                       ----------     ----------
                                                           62,027         42,744

Inventory                                                  26,242         31,427
Prepaid expenses                                           11,434          6,463
                                                       ----------     ----------
          Total current assets                            157,834        128,039
                                                       ----------     ----------

Property and equipment, at cost:
  Land                                                      7,000          7,000
  Developed and undeveloped oil and gas
    properties-successful efforts method                3,229,839      3,711,155
  Trucks and other operating equipment                    361,124        365,104
  Furniture and fixtures                                   35,681         35,681
                                                       ----------     ----------
                                                        3,633,644      4,118,940
  Less accumulated depreciation, depletion and
    amortization                                        3,529,409      4,022,765
                                                       ----------     ----------
             		                                  104,235         96,715
                                                       ----------     ----------

Other assets		                                    1,107          1,107
                                                       ----------     ----------

                                                      $   263,176        225,321
                                                       ==========     ==========
       LIABILITIES AND STOCKHOLDERS' DEFICIT
       -------------------------------------
Current liabilities:
  Accounts payable                                    $    48,588         89,068
  Payable to interest owners	                            306,499        341,789
  Payable to officer, net                                 985,424        942,705
  Notes payable                                           271,256        258,193
  Accrued expenses		                            106,323         92,650
                                                       ----------     ----------
         Total current liabilities		              1,718,090      1,724,405
                                                       ----------     ----------
Stockholders' deficit:
  Preferred stock-no par value. Authorized 1,000,000
    shares; no shares issued or outstanding	              ---            ---
  Common stock-$.10 par value. Authorized 10,000,000
    shares; issued and outstanding 1,597,196 shares
    in 2003 and 2002                                      159,720        159,720
  Accumulated deficit                                  (1,614,634)    (1,658,804)
                                                       ----------     ----------
          Total stockholders' deficit		       (1,454,914)    (1,499,084)
                                                       ----------     ----------

                                                      $   263,176        225,321
                                                       ==========     ==========

</TABLE>




<PAGE>
<TABLE>

                                  PETROL INDUSTRIES, INC.

                          Consolidated Statements of Operations
                                        (unaudited)



                                     Quarter Ended                   Year Ended
                                     September 30,                  September 30,
                               ------------------------       ----------------------
                                  2003            2002           2003          2002
                               ------------------------       ----------------------

                            <c>           <c>              <c>          <c>
Revenues:
  Oil and gas sales	       $  185,332      114,097          558,574      308,305
  Other operating income            3,195       20,843           10,829       29,802
                                ---------    ---------        ---------    ---------
                                  188,527      134,940          569,403      338,107
                                ---------    ---------        ---------    ---------

Expenses:
  Lease operating expense	    176,852      124,342          473,350      366,969
  General and administrative	     47,581       27,246          124,756      104,791
  Depreciation, depletion
    and amortization		      3,330        2,775            9,990        8,325
                                ---------    ---------        ---------    ---------
                                  227,763      154,363          608,096      480,085
                                ---------    ---------        ---------    ---------

    Operating loss             $  (39,236)     (19,423)         (38,693)    (141,978)
                                ---------    ---------        ---------    ---------

Other income and (expense):
  Gain on sale of assets           72,000          ---          133,500       38,057
  Interest income                       2          ---               65           54
  Interest expense                (17,016)     (15,653)         (50,702)     (45,321)
                                ---------    ---------        ---------    ---------
                                   54,986      (15,653)          82,863       (7,210)
                                ---------    ---------        ---------    ---------

     Net income/(loss)         $   15,750      (35,076)          44,170     (149,188)
                                =========    =========        =========    =========

Net loss per share             $     0.01        (0.02)            0.03         (.09)
                                =========    =========        =========    =========

Average common shares
  outstanding                   1,597,196    1,597,196        1,597,196    1,597,196
                                =========    =========        =========    =========


</TABLE>




<PAGE>
<TABLE>

                                     PETROL INDUSTRIES, INC.

                              Consolidated Statements of Cash Flows

                          Nine months ended September 30, 2003 and 2002
                                           (unaudited)


                                                                    2003         2002
                                                                    ----         ----

                                                             <c>            <c>
Operating activities:
  Net income/(loss)	                                        $   44,170     (149,188)
  Adjustments to reconcile net loss to net cash
    provided (used) by operating activities:
      Depreciation, depletion and amortization                       9,990        8,325
      Gain on sale of assets                                      (133,500)     (38,057)
      Losses on retirements of property and equipment
        included in lease operating expenses                           ---          ---
     Changes in assets and liabilities:
       Increase in accounts receivable                             (19,283)     (17,138)
       Decrease (increase) in inventory		                     5,185 	   (4,883)
       Increase in prepaid expenses                                 (4,971)      (7,441)
       Increase (decrease) in accounts payable and
         accrued expenses                                          (26,807)      25,000
       Increase in payable to officer, net                          42,719       41,692
       Increase (decrease) in payable to interest owners           (35,290)       4,592
                                                                  --------     --------
         Net cash (used) provided by operating activities         (137,098)    (137,098)

Investing activities:
  Capital expenditures		                                     (18,050)     (25,520)
  Proceeds from sale of property and equipment		             133,500       40,318
                                                                  --------     --------
         Net cash provided by investing activities                 115,450       14,798

Financing activities:
  Proceeds from gross borrowings                                    25,000      138,900
  Payments on gross borrowings                                     (11,937)     (21,064)
                                                                  --------     --------
         Net cash provided by financing activities                  13,063      117,836


Increase (decrease) in cash and cash equivalents                    10,726       (4,464)
Cash and cash equivalents at beginning of period                    47,405       55,986
                                                                  --------     --------

Cash and cash equivalents at end of period                       $  58,131       51,522
                                                                  ========     ========



</TABLE>









<PAGE>
<TABLE>

                                    PETROL INDUSTRIES, INC.

                  Consolidated Statements of Changes in Stockholders' Deficit

                         Nine months ended September 30, 2003 and 2002
                                          (unaudited)




                                                             2003          2002
                                                             ----          ----


                                                    <c>              <c>
Stockholder's deficit at January 1                     $ (1,499,084)	(1,260,686)

   Net income/(loss) for the nine-month period               44,170       (149,188)
                                                         ----------     ----------

Stockholder's deficit at September 30                  $ (1,454,914)	(1,409,874)
                                                         ==========     ==========



</TABLE>





<PAGE>



                            PETROL INDUSTRIES, INC.

                   Notes to Consolidated Financial Statements
                                 (unaudited)

1.  The accompanying unaudited consolidated financial statements have
    been prepared by the Registrant in accordance with generally
    accepted accounting principles, pursuant to the rules and
    regulations of the Securities and Exchange Commission.  Certain
    information and footnote disclosures normally included in financial
    statements have been condensed or omitted pursuant to such rules
    and regulations, although management believes that the disclosures
    are adequate to make the information presented not misleading.  In
    the opinion of management, the accompanying financial statements
    contain all adjustments necessary for a fair statement of the
    results for the interim periods presented.  It is suggested that
    these consolidated financial statements be used in conjunction with
    the consolidated financial statements and the notes thereto included
    in the Registrant's 2002 Annual Report on Form 10-KSB.

2.  The consolidated financial statements included herein are
    consolidated with the accounts of Petrolind Drilling Funds, Inc.
    and Realco, Inc., both wholly owned subsidiaries of the Registrant,
    neither of which was active during 2003 or 2002.

3.  Net income per share of common stock is computed on the weighted
    average number of shares outstanding during the nine months ended
    September 30.  Totaling the number of shares outstanding at the end
    of each month and dividing that total by the number of months
    determined the weighted average number of shares outstanding.

                                            Total Number of
                                           Shares Outstanding
                                           2003          2002
                                           ------------------
	     January 31	                 1,597,196    1,597,196
	     February 28	                 1,597,196    1,597,196
	     March 31	                 1,597,196    1,597,196
	     April 30	                 1,597,196    1,597,196
	     May 31	                       1,597,196    1,597,196
	     June 30	                 1,597,196    1,597,196
	     July 31	                 1,597,196    1,597,196
           August 31                     1,597,196    1,597,196
	     September 30	                 1,597,196    1,597,196

4.  The expected tax benefit resulting from operations for the first
    nine months of 2003 has not been recorded because it is not expected
    to be realizable.  Additionally, there were no significant changes
    in the temporary differences that give rise to significant portions
    of the deferred tax assets and deferred tax liabilities at
    September 30, 2003.


<PAGE>


Item 2.  MANAGEMENT'S DISCUSSION AND ANALYISIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS.


   Oil and gas sales revenues increased approximately 62.4% in the third
quarter of 2003, compared to the third quarter of 2002, the result being
an approximate 30.5% increase in production and an increase of
approximately 12.8% in average oil prices.  The Company realized a net
income for the period of $15,750, or $.01 per share, compared to a net
loss of $35,076 in the 2002 period, or $(0.02) per share.

   The Company sustained an operating loss of $39,236 in the third
quarter of 2003, compared to an operating loss of $19,423 in the prior
year's third quarter.  For the nine-month period ending September 30,
2003, the Company realized a net income of $44,170 as compared to a net
loss of $149,188 in the prior year's period.

   Profitability is contingent essentially upon two factors: increasing
production from the Company's mineral leases and increases in world oil
prices.  Management continues to explore possible approaches to
increasing oil production, including technological developments or
pursuing drilling operations.

   Oil prices averaged $28.38 per barrel during the third quarter of
2003, compared to an average of $25.16 per barrel in the 2002 period.
For the nine-month period, oil prices averaged $26.80 per barrel in 2003
compared to $21.95 in 2002.

   The Company had cash and cash equivalents at September 30, 2003, of
$58,131, compared to $47,405 at the end of the 2002 fiscal year.
Management estimates that it owes $306,499 from the settlement of the
Horne Lease dispute with Oryx to owners of other interests in the Horne
Lease.

                           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.







<PAGE>





                                        SIGNATURE
                                        ---------


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





Date:  November 13, 2003



						      PETROL INDUSTRIES, INC.



						By: 	s/Joseph M. Rodano
							------------------------------
	                                    Joseph M. Rodano
		                              President and Treasurer


<PAGE>

                                      CERTIFICATION
                                      -------------

I, Joseph M. Rodano, certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of Petrol
    Industries, Inc.;

2.  Based on my knowledge, this quarterly report does not contain any
    untrue statement of a material fact or omit to state a material fact
    necessary to make the statements made, in light of the circumstances
    under which such statements were made, not misleading with respect
    to the period covered by this quarterly report;

3.  Based on my knowledge, the financial statements, and other financial
    information included in this quarterly report, fairly present in all
    material respects the financial condition, results of operations and
    cash flows of the registrant as of, and for the periods presented in
    this quarterly report;

4.  The registrant's other certifying officers and I are responsible for
    establishing and maintaining disclosure controls and procedures (as
    defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant
    and have:

	 a) designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within
          those entities, particularly during the period in which this
          quarterly report is being prepared;
	 b) evaluated the effectiveness of the registrant's disclosure
          controls and procedures as of a date within 90 days prior to
          the filing date of this quarterly report (the "Evaluation
          Date"); and
       c) presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based
          on our Evaluation Date;

5.  The registrant's other certifying officers and I have disclosed,
    based on our most recent evaluation, to the registrant's auditors
    and the audit committee of registrant's board of directors (or
    persons performing the equivalent functions):

      a) all significant deficiencies in the design or operation of
         internal controls which could adversely affect the registrant's
         ability to record, process, summarize and report financial data
         and have identified for the registrant's auditors any material
         weaknesses in internal controls; and
      b) any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal controls; and

6.  The registrant's other certifying officers and I have indicated in
    this quarterly report whether or not there were significant changes
    in internal controls or in other factors that could significantly
    affect internal controls subsequent to the date of our most recent
    evaluation, including any corrective actions with regard to
    significant deficiencies and material weaknesses.


Date:     November 13, 2003

   s/Joseph M. Rodano
---------------------------------
Joseph M. Rodano
President & Treasurer






<PAGE>

                                      CERTIFICATION
                                      -------------

I, Arlys C. Milan, certify that:

1.  I have reviewed this quarterly report on Form 10-QSB of Petrol
    Industries, Inc.;


2.  Based on my knowledge, this quarterly report does not contain any
    untrue statement of a material fact or omit to state a material fact
    necessary to make the statements made, in light of the circumstances
    under which such statements were made, not misleading with respect
    to the period covered by this quarterly report;

3.  Based on my knowledge, the financial statements, and other financial
    information included in this quarterly report, fairly present in all
    material respects the financial condition, results of operations and
    cash flows of the registrant as of, and for the periods presented in
    this quarterly report;

4.  The registrant's other certifying officers and I are responsible for
    establishing and maintaining disclosure controls and procedures (as
    defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant
    and have:

	 a) designed such disclosure controls and procedures to ensure that
          material information relating to the registrant, including its
          consolidated subsidiaries, is made known to us by others within
          those entities, particularly during the period in which this
          quarterly report is being prepared;
	 b) evaluated the effectiveness of the registrant's disclosure
          controls and procedures as of a date within 90 days prior to
          the filing date of this quarterly report (the "Evaluation
          Date"); and
       c) presented in this quarterly report our conclusions about the
          effectiveness of the disclosure controls and procedures based
          on our Evaluation Date;

5.  The registrant's other certifying officers and I have disclosed,
    based on our most recent evaluation, to the registrant's auditors
    and the audit committee of registrant's board of directors (or
    persons performing the equivalent functions):

      a) all significant deficiencies in the design or operation of
         internal controls which could adversely affect the registrant's
         ability to record, process, summarize and report financial data
         and have identified for the registrant's auditors any material
         weaknesses in internal controls; and
      b) any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal controls; and

6.  The registrant's other certifying officers and I have indicated in
    this quarterly report whether or not there were significant changes
    in internal controls or in other factors that could significantly
    affect internal controls subsequent to the date of our most recent
    evaluation, including any corrective actions with regard to
    significant deficiencies and material weaknesses.

Date:     November 13, 2003

   s/Arlys C. Milan
---------------------------------
Arlys C. Milan
Vice President & Secretary


<PAGE>

                             CERTIFICATION PURSUANT TO
                              18 U.S.C. SECTION 1350,
                              AS ADOPTED PURSUANT TO
                   SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
                   ---------------------------------------------


In connection with the Quarterly Report of Petrol Industries, Inc. (the
"Company") on Form 10-QSB for the quarter ended October 31, 2003, as
filed with the Securities and Exchange Commission on the date hereof (the
"Report"), the undersigned certifies, pursuant to 18 U.S.C. Section 1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002,
that:

(1)  The Report fully complies with the requirements of Section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

(2)  The information contained in the Report fairly presents, in all
material respects, the financial condition and results of operations of
the Company.


Dated:  December 18, 2003				s/Joseph M. Rodano
							-------------------------
							Joseph M. Rodano
							President & Treasurer