UNITED STATES
                   SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.  20549



                              FORM 10-Q SB




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

     For the quarterly period ended September 30, 1996
                                    -------------------

                                   or

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
     Exchange Act of 1934

     For the transition period from  N/A  to  N/A
                                    -----    -----

                       Commission File No. 0-14788

                       TATUM PETROLEUM CORPORATION
          -----------------------------------------------------
         (Exact name of registrant as specified in its charter)


                Delaware                             33-0117736
     ------------------------------       -------------------------------
     State or other jurisdiction of       (I.R.S. Employer Identification
      incorporation or organization                   Number)


   667-E Lakeview Plaza Boulevard,              Worthington, OH  43085
   -------------------------------------------------------------------
    (Address of Principal Executive Offices)              (Zip Code)


    Registrant's telephone number, including area code (614) 888-3637
                                                       --------------


     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.   [X]Yes     [  ]No

     At March 12, 1997, 10,418,855 shares of common stock, $.01 par value
     were outstanding.

     Page 1 of 13 pages.

<PAGE>

                       TATUM PETROLEUM CORPORATION

                          INDEX TO FORM 10-Q SB
                           SEPTEMBER 30, 1996



                                                                PAGE NO.
PART I                                                          --------
------

FINANCIAL STATEMENTS

     a.   BALANCE SHEETS - March 31, 1996 and 
          September 30, 1996 (Unaudited)                              3


     b.   STATEMENTS OF OPERATIONS - For the Three Months
          and Six Months Ended September 30, 1996
          and 1995 (Unaudited)                                        4

     c.   STATEMENTS OF CASH FLOWS -  For the Six Months
          Ended September 30, 1996 and 1995 (Unaudited)               5

     d.   NOTES TO THE FINANCIAL STATEMENTS                           6

MANAGEMENT'S DISCUSSION AND ANALYSIS                                  8


PART II
-------

     a.   OTHER INFORMATION                                          11
     b.   SIGNATURES                                                 13







<PAGE>

                       TATUM PETROLEUM CORPORATION

                             BALANCE SHEETS


                                                 MARCH 31,     SEPTEMBER 30,
                                                   1996            1996
                                                 ----------     ----------
                                                                (Unaudited)
                                 ASSETS
                                 ------

CURRENT ASSETS:
 Cash                                           $  416,000      $  241,000 
 Receivables:
   Oil and gas                                     642,000         279,000 
   Joint interest owners                            42,000         139,000 
   Other                                              -            467,000 
 Inventory                                          19,000         185,000 
                                                ----------      ---------- 
     Total current assets                        1,119,000       1,311,000 

PROPERTY AND EQUIPMENT, at cost:
 Oil and gas producing properties
   (using the successful efforts method
   of accounting):
     Proved                                      6,135,000       6,557,000 
     Unproved                                      475,000         583,000 
 Other equipment                                   132,000         142,000 
                                                ----------      ---------- 
                                                 6,742,000       7,282,000 
 Less accumulated depreciation,
   depletion, amortization and impairment       (3,464,000)     (3,662,000)
                                                ----------      ---------- 
                                                 3,278,000       3,620,000 

OTHER ASSETS                                        20,000          17,000 
                                                ----------      ---------- 

TOTAL ASSETS                                    $4,417,000      $4,948,000 
                                                ==========      ========== 


                  LIABILITIES AND STOCKHOLDERS' EQUITY
                  ------------------------------------

CURRENT LIABILITIES:
 Note payable                                   $  360,000      $  375,000 
 Accounts payable                                  230,000         342,000 
 Related party payable                                -             54,000 
 Revenue and ad valorem taxes payable              515,000         497,000 
 Advances from working interest owners             322,000          47,000 
 Accrued liabilities                                83,000         235,000 
 Income tax payable                                 20,000            -    
                                                ----------      ---------- 
     Total current liabilities                   1,530,000       1,550,000 

DEFERRED TAX LIABILITY                             280,000         345,000 

ACCRUED LITIGATION SETTLEMENT                         -            338,000 

COMMITMENT AND CONTINGENCIES (Note 2)

STOCKHOLDERS' EQUITY:
 Common stock, $.01 par value; authorized
   15,000,000 shares, 10,418,855 shares
   issued and outstanding                          104,000         104,000 
 Additional paid-in capital                      4,877,000       4,877,000 
 Accumulated deficit                            (2,374,000)     (2,266,000)
                                                ----------      ---------- 
     Total stockholders' equity                  2,607,000       2,715,000 
                                                ----------      ---------- 

TOTAL LIABILITIES AND STOCKHOLDERS'
 EQUITY                                         $4,417,000      $4,948,000 
                                                ==========      ========== 

          SEE ACCOMPANYING NOTES TO THESE FINANCIAL STATEMENTS.

                                    3

<PAGE>

                       TATUM PETROLEUM CORPORATION

                        STATEMENTS OF OPERATIONS
                               (Unaudited)


<TABLE>
<CAPTION>
                                    FOR THE THREE          FOR THE SIX
                                     MONTHS ENDED           MONTHS ENDED
                                     SEPTEMBER 30,         SEPTEMBER 30,
                                  -------------------   --------------------
                                   1996        1995       1996       1995
                                  --------   --------   --------    --------
<S>                             <C>        <C>        <C>         <C>
NET REVENUES:
   Oil and gas sales            $  725,000 $  745,000 $1,425,000  $1,425,000 
   Drilling arrangement income       8,000     55,000     15,000      76,000 
   Operating fees                   37,000     29,000     70,000      47,000 
                                ---------- ---------- ----------  ---------- 
                                   770,000    829,000  1,510,000   1,548,000 

COSTS AND EXPENSES:
   Oil and gas production costs    141,000    132,000    253,000     225,000 
   General and administrative
      expenses                     172,000    147,000    305,000     280,000 
   Depreciation, depletion and
      amortization                 109,000     75,000    218,000     149,000 
   Exploration costs                84,000    101,000    339,000     319,000 
   Dry hole costs                  104,000    140,000     88,000     218,000 
   Legal settlements, net           99,000       -        99,000        -    
                                ---------- ---------- ----------  ---------- 
                                   709,000    595,000  1,302,000   1,191,000 
                                ---------- ---------- ----------  ---------- 

OTHER INCOME (EXPENSE)             (38,000)    15,000    (35,000)     17,000 
                                ---------- ---------- ----------  ---------- 

INCOME BEFORE INCOME TAXES          23,000    249,000    173,000     374,000 
                                ---------- ---------- ----------  ---------- 

INCOME TAX EXPENSE:
   Current                                                  -           -    
   Deferred                         (9,000)   (71,000)   (65,000)   (142,000)
                                ---------- ---------- ----------  ---------- 
                                    (9,000)   (71,000)   (65,000)   (142,000)
                                ---------- ---------- ----------  ---------- 

NET INCOME                      $   14,000 $  178,000 $  108,000  $  232,000 
                                ========== ========== ==========  ========== 

NET INCOME PER SHARE            $     -    $      .02 $      .01  $      .02 
                                ========== ========== ==========  ========== 

WEIGHTED AVERAGE SHARES
  OUTSTANDING                   10,418,855 10,418,855 10,418,855  10,418,855 
                                ========== ========== ==========  ========== 

</TABLE>





          SEE ACCOMPANYING NOTES TO THESE FINANCIAL STATEMENTS.

                                    4

<PAGE>

                       TATUM PETROLEUM CORPORATION

                        STATEMENTS OF CASH FLOWS
                               (Unaudited)


                                                        FOR THE SIX
                                                       MONTHS ENDED
                                                       SEPTEMBER 30,
                                                 -------------------------
                                                   1996            1995
                                                 ----------     ----------


CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income                                     $  108,000      $  232,000 
 Adjustments to reconcile net income
   to net cash provided by operating
   activities:
     Depreciation, depletion and
      amortization                                 218,000         149,000 
     Deferred income taxes                          65,000         142,000 
     Gain (loss) on disposal of
      equipment                                     43,000         (10,000)
     Changes in operating assets
      and liabilities:
       Receivables                                (201,000)       (309,000)
       Inventory                                  (166,000)         (5,000)
       Prepaid expenses and other                    3,000          (1,000)
       Payables                                    112,000         255,000 
       Accrued liabilities                         231,000         (39,000)
                                                ----------      ---------- 
     Net cash provided by
      operating activities                         413,000         414,000 

CASH FLOWS FROM INVESTING ACTIVITIES:
 Additions to property and equipment              (621,000)       (604,000)
 Proceeds from sale of property
   and equipment                                    18,000          10,000 
                                                ----------      ---------- 
     Net cash used in
      investing activities                        (603,000)       (594,000)

CASH FLOWS FROM FINANCING ACTIVITIES: 
 Borrowings on line-of-credit                    1,180,000         710,000 
 Repayments on line-of-credit                   (1,165,000)       (580,000)
                                                ----------      ---------- 
     Net cash provided by
      financing activities                          15,000         130,000 

NET INCREASE (DECREASE) IN CASH                   (175,000)        (50,000)

CASH, BEGINNING OF PERIOD                          416,000         325,000 
                                                ----------      ---------- 

CASH, END OF PERIOD                             $  241,000      $  275,000 
                                                ==========      ========== 

SUPPLEMENTAL CASH FLOW INFORMATION:
 Cash paid for interest                         $   12,000      $   12,000 
                                                ==========      ==========

 Seismic data received for working
  interest in producing properties              $     -         $     -    
                                                ==========      ========== 

          SEE ACCOMPANYING NOTES TO THESE FINANCIAL STATEMENTS.

                                    5

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS

1.  GENERAL:
    -------

    Pursuant to rules and regulations of the Securities and Exchange
    Commission, the Company has elected to omit substantially all the
    disclosures normally included in financial statements prepared under
    generally accepted accounting principles.  Readers of these financial
    statements should refer to the Company's Form 10-SB filed for the year
    ended March 31, 1996, for additional disclosures.

    The Company's balance sheet as of September 30, 1996, and the
    statement of operations for the three and six months ended September
    30, 1995 and 1996 are taken from the Company's books and records
    without audit.  Management believes, however, that such information
    includes all accruals, which are considered recurring in nature,
    required for the fair presentation of the Company's financial position
    and results of their operations as of and for the periods then ended. 
    The results of operations for the interim periods presented are not
    necessarily indicative of results expected for the full year.

    The preparation of the Company's financial statements in conformity
    with generally accepted accounting principles requires the Company's
    management to make estimates and assumptions that affect the amounts
    reported in these financial statements and accompanying notes.  Actual
    results could differ from those estimates.


2.  CONTINGENCIES:
    -------------

    LITIGATION - The Company is currently involved in a lawsuit entitled
    COLUMBIA NATURAL RESOURCES, INC. (COLUMBIA) V. TATUM PETROLEUM
    CORPORATION, ET AL. in the United States District Court for the
    Northern District of Ohio.  The action involves claims by Columbia
    that various leases were improperly acquired, that its rights were
    defeated, and that the various defendants conspired to defraud them. 
    Likewise, the defendants, including the Company, have asserted a
    counterclaim against Columbia for damages.  The case and claims of
    Columbia had originally been dismissed, but on appeal to the United
    States Court of Appeals the decision was reversed and remanded for
    further proceedings.  The prayer for relief in the second amended
    complaint seeks an accounting, recovery of actual and punitive
    damages, and RICO-enhanced damages, which if successfully asserted
    against the Company would be substantial, and most likely would impair
    the Company's ability to continue operations.  The prayer of the
    counterclaim by the Company and others also seeks significant damages
    against Columbia.  If these actions are litigated, an estimate of loss
    to the Company if it is unsuccessful in its defense, or an estimate of
    possible gain if it is successful in its counterclaim, cannot be made. 
    It is the belief of counsel that a reasonable chance exists for
    summary judgment on the complaint of Columbia, and a dismissal of
    same, given that the same Court previously had dismissed the complaint
    of Columbia, and the legal defenses available to the Company are
    supported by sufficient and demonstrable evidence.

    Subsequent to September 30, 1996, the Company has entered into
    settlement negotiations with Columbia in order, among other things, to
    avoid additional costs of continued litigation.  A tentative
    understanding has been reached, however, a signed release by both
    parties has not yet been formalized, but in the opinion of the
    Company's counsel the likelihood of consummating the settlement

                                    6

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS

    is excellent.  Based on this understanding, the Company has accrued
    the net present value of the proposed settlement as of September 30,
    1996, which is $34,000 per month to be paid over eighteen months
    commencing at the execution of an agreement.  If the parties are
    unable to formalize a settlement based upon the terms of the proposed
    agreement, the Company intends to aggressively pursue its counterclaim
    and vigorously defend itself against Columbia's action.

    BANKRUPTCY SETTLEMENT - In October 1996, the Company received from a
    prior affiliate of Columbia a bankruptcy settlement of approximately
    $467,000 which was recorded as a receivable, as such amount was agreed
    to prior to September 30, 1996.







                                    7

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS


       MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OR OPERATIONS
       ----------------------------------------------------------


THIS REGISTRATION STATEMENT CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE
MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933.  SUCH FORWARD-LOOKING
STATEMENTS MAY BE FOUND IN THIS SECTION AND UNDER "DESCRIPTION OF
BUSINESS," "MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OR OPERATIONS" AND
"PROPERTIES."  ACTUAL EVENTS OR RESULTS COULD DIFFER MATERIALLY FROM THOSE
DISCUSSED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF VARIOUS FACTORS.

THREE AND SIX-MONTH PERIODS ENDED SEPTEMBER 30, 1996 VS. SEPTEMBER 30, 1995
---------------------------------------------------------------------------

RESULTS OF OPERATIONS - The Company had net income for the three and six-
month periods ended September 30, 1996 of $14,000 and $108,000 compared to
$178,000 and $232,000 for the three and six-month periods ended September
30, 1995.  This decrease in net income was primarily a result of increased
exploration costs along with a reduction of income from sale of working
interest and the accrual for a proposed settlement of a litigation
contingency.

REVENUES - Oil and gas sales for the six-month periods ended September 30,
1996 totaled $1,425,000 compared to approximated revenues of $1,425,000 for
the six-month periods ended September 30, 1995.  Oil production decreased
from 16,625 barrels to 15,700 barrels for a net decrease of 925 barrels or
5.6% for the six months ended September 30, 1996.  Gas production increased
from 508,297 MCFs to 526,204 MCFs for a net increase of 17,907 MCFs or 3.5%
for the six months ended September 30, 1996.  These changes in revenue and
fluctuations in production have resulted in virtually no difference in
total revenue for the two periods presented.  Revenues for the three-month
periods ended September 30, 1996 and 1995 were $725,000 and $745,000,
respectively.

Drilling arrangement income decreased from $55,000 and $76,000 for the
three and six-month periods ended September 30, 1995, to $8,000 and $15,000
for the three and six-month periods ended September 30, 1996, a reduction
of 80%.  This decrease is a result of the Company retaining more working
interest in the new wells being drilled.

Management fee income increased from $29,000 and $47,000 for the three and
six-month periods ended September 30, 1995, to $37,000 and $70,000 for the
three and six-month periods ended September 30, 1996.  The increase in
revenue is a result of the Company managing additional wells that were
brought into production during the current period.

COSTS AND EXPENSES
------------------

Oil and gas production costs for the three and six-month periods ended
September 30, 1996 totaled $141,000 and $253,000 for a 12.4% and 6.8%
increase over the three and six-month periods ended September 30, 1995
costs of $132,000 and $225,000.  The increased costs were primarily a
result of hiring an additional employee in the field along with salary
increases.

                                    8

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS


General and administrative expenses totaled $172,000 and $305,000 for the
three and six-month periods ended September 30, 1996 as compared to
$147,000 and $280,000 for the three and six-month periods ended September
30, 1995 for a total increase of 17.0% and 8.9%.  This increase was due to
additional legal fees incurred in connection with the Company's lawsuit
with Columbia Gas along with salary increases.

Depreciation, depletion and amortization costs for the current three and
six-month periods totaled $109,000 and $218,000 for an increase of $34,000
and $69,000 over the three and six-month periods ended September 30, 1995
costs of $75,000 and $149,000.  This increase is consistent with an
increase in the depreciable assets owned by the Company, as well as
adjustments to depletion rates based on year end reserve quantities.

Exploration costs and dry hole costs increased a total of 6.2% from
$101,000 and $319,000 for three and six-month periods ended September 30,
1995 to $84,000 and $339,000 for the three and six-month periods ended
September 30, 1996.  The Company's approach to exploration has not changed
significantly from the prior period.

The Company accrued approximately $566,000 for a proposed settlement of
certain litigation, and has also realized a gain of $467,000 in a
bankruptcy settlement of a company previously affiliated with the company
involved in the current litigation.  These legal actions have resulted in
a net expense of $99,000 for the three and six-month periods ended
September 30, 1996.

OTHER INCOME (LOSS)
-------------------

Other income (loss) for the three and six-month periods ended September 30,
1996, was a loss of $38,000 and $35,000, a decrease of $53,000 and $52,000
from the three and six-month periods ended September 30, 1995 revenues of
$15,000 and $17,000.  This decrease was due to the loss realized during the
current period on the plugging of one well which was not fully depreciated.

LIQUIDITY AND CAPITAL RESOURCES
-------------------------------

During the six-month period ended September 30, 1996, the Company
experienced a decrease in working capital deficiency from $(411,000) at
March 31, 1996 to $(239,000) in the current period.  This increase in
working capital of $172,000 was due to the increase in receivables,
resulting from lower gas prices which averaged 44% less than the March 1996
prices offset by a legal settlement of $467,000, which was previously not
recorded until realization for assured.  Cash as of September 30, 1996 was
$241,000, a $175,000 decrease from March 31, 1996.  This was due to
increased drilling activity and purchase of inventory pipe to take
advantage of low prices.  Cash provided by operations was $413,000 at
September 30, 1996 which is in line with the $414,000 at September 30,
1995.  However, management anticipates increased natural gas prices during
the second half of fiscal year 1997 to bring the annualized September 1996
numbers closer in line with the March 31, 1996 cash provided by operations
numbers.

The Company used it's line-of-credit along with advances from industry
investors to facilitate the drilling of 13 wells during the six months
ended September 30, 1996.  Four of these wells were dry holes.  Of the nine
commercial wells, the Company retained an average of 49.3% working
interest.

                                    9

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS


The Company anticipates continuing the sale of working interest to industry
related investors and bank borrowings to facilitate its working capital
needs and its drilling activities for the remainder of the fiscal year.









                                   10

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS



                       PART II - OTHER INFORMATION


ITEM NO. 1 - LEGAL PROCEEDINGS
             -----------------

The lawsuit entitled COLUMBIA NATURAL RESOURCES, INC. V. TATUM PETROLEUM
CORPORATION, ET AL, assigned Case No. 5:93-CV-0234 in the United States
District Court for the Northern District of Ohio was originally commenced
on February 3, 1993.  The plaintiff is Columbia Natural Resources, Inc.,
and the defendants are Zachary Tatum, Tatum Petroleum Corporation, Strata
Exploration, Inc., Tatum Petroleum Ohio, Inc. and Shannon Tatum.

In its complaint, Columbia Natural Resources ("Columbia") claims that
various leases were improperly acquired, that its lease rights were
defeated as a result, and that various defendants conspired to defraud the
plaintiff.  In particular, the plaintiff alleges that the defendants
breached contractual duties reportedly arising under three farmount
agreements and, further, allegedly used fraudulent means to conceal the
alleged breaches of contract.  The plaintiff has requested damages in
excess of ten million dollars and an award of punitive and treble damages,
with attorney's fees.

In this same case, the defendants, including Tatum Petroleum Corporation,
have asserted a counterclaim against Columbia Natural Resources for
damages.  The counterclaim alleges claims for abuse of process, slander of
title to real property, tortious interference with business and contractual
relations, and fraud and extortion, among others.  The counterclaim seeks
damages in excess of ten million dollars, together with a treble and
punitive damage award, and the recovery of attorney's fees.

The litigation pending in the Holmes County, Ohio Common Pleas Court
entitled YODER V. STOCKER & SITLER OIL CO., ET AL., being Case No.
44-14987, involves a third-party complaint filed by Columbia Natural
Resources against Tatum Petroleum Corporation and others for indemnity,
which was first commenced on May 29, 1991.  This case originally involved
an action by landowners to cancel a lease, and after trial the landowners
prevailed and obtained judgment against Columbia Natural Resources and
Stocker & Sitler, which was appealed but eventually settled.  The
third-party action is between third-party plaintiff, Columbia Natural
Resources, Inc., and third-party defendants Tatum Petroleum Corporation,
Strata Exploration, Inc. and Tatum Petroleum Ohio, Inc.

In the third-party complaint, Columbia Natural Resources alleges that the
third-party defendants breached contractual duties reportedly arising under
a farmout agreement and, further, the third-party defendant, Tatum
Petroleum Corporation, in producing a breach of the farmout agreement which
created the landowners claim against third-party plaintiff.  On that basis,
the third-party complaint seeks indemnity for the amount paid in settlement
to the landowners, together with attorney's fees.

In connection with the third-party action pending in the Holmes County,
Ohio Common Pleas Court litigation, the third-party defendants have filed
a counterclaim.  In their counterclaim, the third-party defendants,
including Tatum Petroleum Corporation, seek the recovery of damages for
abuse of process, tortious interference with business dealings and
relationships and deceptive trade practices, among others, and the
counterclaim seeks damages in excess of $25,000, punitive damages and
attorney's fees.

                                   11

<PAGE>

                       TATUM PETROLEUM CORPORATION

                      NOTES TO FINANCIAL STATEMENTS


In the YODER V. STOCKER & SITLER OIL COMPANY, ET AL. Case a Holmes County,
Ohio Common Please Court jury held in favor of the plaintiff landowners for
$300,000 on compensatory damages and, further, ruled that the plaintiffs
were entitled to punitive damages against the defendants, Stocker & Sitler
and Columbia Natural Resources, Inc.  That verdict was entered on March 18,
1994.  Thereafter, on May 6, 1994 the court awarded the plaintiffs the sum
of $600,000 in punitive damages against the defendants.  The court of
appeals reversed the punitive damage award, and during the course of
further appeal, the parties reportedly reached a settlement for a lump sum
of approximately $600,000,and Columbia Natural Resources claims that it
incurred an additional sum of approximately $600,000 in attorney's fees and
expenses relating to the landowners' claims.

The Company is unable to predict the outcome of the above-referenced
litigation.  However, subsequent to September 30, 1996, the Company has
entered into settlement negotiations with Columbia in order, among other
things, to avoid additional costs of continued litigation.  A tentative
understanding has been reached, however, a signed release by all parties
has not yet been formalized, but in the opinion of the Company's counsel
the likelihood of consummating the settlement is excellent.  Based on this
understanding, the Company has accrued the net present value of the
proposed settlement as of September 30, 1996, which is $34,000 per month to
be paid over eighteen months commencing at the execution of an agreement. 
If the settlement is formalized the above cases will be resolved, at least
as they relate to the Company.  If the parties are unable to formalize a
settlement based upon the terms of the proposed agreement, the Company
intends to aggressively pursue its counterclaim and vigorously defend
itself against these actions.

ITEM NO. 2 - CHANGES IN SECURITIES
             ---------------------

None

ITEM NO. 3 - DEFAULTS UPON SENIOR SECURITIES
             -------------------------------

None

ITEM NO. 4 - SUBMISSION OF MATTER TO A VOTE OF SECURITIES HOLDERS
             ----------------------------------------------------

None

ITEM NO. 5 - OTHER INFORMATION
             -----------------

None

ITEM NO. 6 - EXHIBITS AND REPORTS ON FORM 8-K
             --------------------------------

None


                                   12

<PAGE>

                               SIGNATURES
                               ----------


Pursuant to the requirements of Section 13 and 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.




TATUM PETROLEUM CORPORATION



/s/ ZACHARY T. TATUM
--------------------------------
Zachary T. Tatum, President, 
  Chief Executive Officer, Principal
  Financial and Accounting Officer



/s/ LORI POWELL
--------------------------------
Lori Powell, Controller and Treasurer



Date:  April 2, 1997






                                   13