SECURITIES AND EXCHANGE COMMISSION
                               Washington DC 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, 2003.
                                    -------------------

Transition  report under Section 13 or 15(d) of the  Securities  Exchange Act of
1934 for the quarterly period from _________ to __________.


                         Commission File Number 1-13162


                              EMPIRIC ENERGY, INC.
             (Exact name of registrant as specified in its charter.)


                Delaware                                 75-2455467
     (State or other jurisdiction of        (IRS Employer Identification Number)
     incorporation or organization)

      14675 Midway Road, Suite 207
             Addison, Texas                                75001
(Address of principal executive offices)                 (Zip Code)

                                 (972) 387-4100
              (Registrant's telephone number, including area code)



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 X  No
                                                             ---   ---

As of September 30, 2003, the number of shares  outstanding of the  Registrant's
Common stock was 12,543,240.

Transitional Small Business Disclosure Format        Yes    No X
                                                        ---   ---

<PAGE>

                              EMPIRIC ENERGY, INC.

                              INDEX TO FORM 10-QSB

PART I                                                                      PAGE

   Item 1. Financial Statements                                               3

   Item 2. Management's Discussion and Analysis of Financial Condition and
              Results of Operations                                           6

   Item 3. Controls and Procedures                                            8

PART II

   Item 1. Legal Proceedings                                                  8

   Item 2. Changes in Securities                                              8

   Item 3. Defaults Upon Senior Securities                                    8

   Item 4. Submission of Matters to a Vote of Securities Holders              8

   Item 5. Other Information                                                  8

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

SIGNATURE PAGE                                                                9



<PAGE>
<TABLE>
<CAPTION>

                                     PART I
ITEM 1. FINANCIAL INFORMATION
                              EMPIRIC ENERGY, INC.
                                 BALANCE SHEETS

                                                                       September 30,     December 31,
                                                                            2003             2002
                                                                       -------------    -------------
Assets                                                                  (Unaudited)       (Audited)
<S>                                                                    <C>              <C>
Current assets:
     Cash and cash equivalents                                         $      60,476    $      86,911
     Oil and gas revenues receivable                                          14,305           19,584
     Note receivable                                                          80,000             --
                                                                       -------------    -------------
Total current assets                                                         154,781          106,495
Property and equipment:
     Oil and gas properties (full cost method):
        Unproved leasehold costs                                           3,324,149        2,979,004
        Proved leasehold costs and well equipment                          5,080,490        4,571,190
        Less accumulated depletion and impairment                         (4,559,502)      (4,529,975)
                                                                       -------------    -------------
Net property and equipment                                                 3,845,137        3,020,219
Other assets                                                                  14,579           15,498
                                                                       -------------    -------------
Total assets                                                           $   4,014,497    $   3,142,212
                                                                       =============    =============

Liabilities and Stockholders' Equity
Current liabilities:
     Current portion of long-term debt                                 $       6,675    $      11,543
     Accounts payable and accrued expenses                                   278,116           99,962
     Payroll taxes payable                                                    72,066
                                                                                               71,643
     Notes payable                                                           155,309
                                                                                               75,000
     Income participation units payable                                      173,950          215,950
     Due to related parties                                                  104,966           21,763
                                                                       -------------    -------------
Total current liabilities                                                    791,082          495,861

Commitments and contingencies
                                                                       -------------    -------------
Series P preferred stock, subject to mandatory redemption                      5,000            5,000

Stockholders' equity:
     Series L convertible preferred stock, $.05 par value; 5,000,000
     shares authorized 2,193,350 issued and outstanding.  Shares
     issued as a stock dividend in January 2003 were applied                 108,015           96,655
     retroactively to 2002

     Common stock, $.01 par value; 30,000,000 shares authorized;
        12,543,240 shares issued and outstanding                             125,370           97,405
     Additional paid-in capital                                           12,649,464       11,477,317
     Accumulated deficit                                                  (9,553,408)      (8,939,699)
                                                                       -------------    -------------
                                                                           3,334,441        2,731,678
     Less interest on debt prepaid by issuance of common stock               (73,284)         (60,327)
     Less deferred stock compensation                                           --               --
     Less treasury stock, 75,000 shares, at cost                             (37,743)         (30,000)
                                                                       -------------    -------------
Total stockholders' equity                                                 3,223,414        2,641,351
                                                                       -------------    -------------
Total liabilities and stockholders' equity                             $   4,014,496    $   3,142,212
                                                                       =============    =============
</TABLE>

                             See accompanying notes
                                        3
<PAGE>
<TABLE>
<CAPTION>

                              EMPIRIC ENERGY, INC.

                            STATEMENTS OF OPERATIONS


                                                   Three Months Ended                Nine Months Ended
                                              September 30,    September 30,    September 30,    September 30,
                                                   2003             2002             2003             2002
                                               (Unaudited)      (Unaudited)      (Unaudited)      (Unaudited)
                                              -------------    -------------    -------------    -------------
<S>                                           <C>              <C>              <C>              <C>
Revenues:
     Oil and gas revenues                     $       8,334    $      32,101    $      68,905    $      41,534
Cost and expenses:
     Production expense                               1,163             (323)          51,985            2,670
     Depletion and depreciation                       7,503             (381)          29,944           27,137
     General and administrative                     135,582           63,966          362,655          254,666
                                              -------------    -------------    -------------    -------------
Total costs and expenses                            144,248           63,262          444,583          284,473

Other income (expenses):
     Interest expense and financing costs           (33,485)           4,966         (238,031)            (338)
                                              -------------    -------------    -------------    -------------


Net loss                                      $    (169,399)   $     (26,195)   $    (613,710)   $    (243,277)
                                              =============    =============    =============    =============

Basic and diluted net loss per common share   $        0.02    $        0.00    $        0.05    $        0.01
                                              =============    =============    =============    =============

Weighted average common shares outstanding

                                                 11,974,024       18,390,457       11,194,734       17,247,629
                                              =============    =============    =============    =============
</TABLE>


                             See accompanying notes.
















                                                                   4

<PAGE>
<TABLE>
<CAPTION>

                              EMPIRIC ENERGY, INC.
                             STATEMENT OF CASH FLOWS

                                                                                  Nine Months Ended
                                                                             September 30,    September 30,
                                                                                 2003             2002
                                                                              (Unaudited)      (Unaudited)
                                                                             -------------    -------------
<S>                                                                          <C>              <C>
Operating Activities:
Net loss:                                                                    $    (613,710)   $    (243,277)
       Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
         Depletion, depreciation and impairment                                     21,702           27,518
         Amortization of stock issued for interest                                 (12,957)            --
              Common stock issued for services                                        --               --
     Changes in assets and liabilities:
          Oil and gas revenues receivable and other assets                           7,002             (390)
          Accounts payable, accrued expenses, payroll taxes payable, and
                 income participation units payable                                135,128          (44,922)
               Due to related parties                                               83,552          (18,532)
                                                                             -------------    -------------
Net cash provided by (used in) operating activities                               (379,283)        (253,408)



Investing Activities:
     Purchase of oil and gas properties                                           (854,445)        (123,998)
     Purchase of furniture and equipment                                             7,022             --
                                                                             -------------    -------------
Net cash from investing activities                                                (847,423)        (123,998)
                                                                             -------------    -------------

Financing Activities:
     Borrowings on notes payable                                                      --               --
     Borrowings on long-term debt                                                     --             19,546
     Repayment of long-term debt                                                    76,542             --
     Proceeds from sales and subscription of common stock                        1,203,729
                                                                             -------------    -------------
    Net cash provided by financing activities                                    1,280,271          363,950
                                                                             -------------    -------------
                                                                                                    383,496

Net increase (decrease) in cash and cash equivalents                               (26,434)           6,090
Cash and cash equivalents at beginning of year                                      86,911           13,328
                                                                             -------------    -------------
Cash and cash equivalents at end of period                                   $      60,476    $      19,418
                                                                             =============    =============
Supplemental Disclosures of Cash Flow Information
     Cash paid during the year for interest                                  $           0    $         338
                                                                             =============    =============

Non-cash Investing and Financing Transactions:
     Purchase of oil and gas properties with common stock                    $           0    $        --
                                                                             =============    =============

     Purchase of oil and gas properties with preferred stock                 $           0    $        --
                                                                             =============    =============

     Conversion of income participation units payable to common stock        $           0    $        --
                                                                             =============    =============

    Issuance of note payable for oil and gas properties                      $           0    $        --
                                                                             =============    =============
</TABLE>



                            See accompanying notes.
                                        5

<PAGE>

                              EMPIRIC ENERGY, INC.
                          NOTES TO FINANCIAL STATEMENTS

NOTE 1 - GENERAL
----------------

The  financial   statements  included  herein  for  Empiric  Energy,  Inc.  (the
"Company")  have been  prepared  pursuant  to the rules and  regulations  of the
Securities and Exchange Commission (the "SEC") and include all adjustments which
are, in the opinion of management,  necessary for a fair  presentation.  Certain
information and footnote disclosures required by accounting principles generally
accepting  in the  United  States of  America  have been  condensed  or  omitted
pursuant  to  such  rules  and  regulations.  The  interim  unaudited  financial
statements should be read in conjunction with the financial  statements included
in the  December  31, 2002 Form  10-KSB.  Operating  results for the nine months
ended September 30, 2003 are not necessarily  indicative of the results that may
be expected for the year ended December 31, 2003.

NOTE 2 - REVERSE SPLIT
----------------------

The Company  declared a 1-for-2  reverse split of its common  shares,  effective
January 14, 2003, and issued a stock dividend of series L preferred shares equal
to one share of preferred for each  pre-split  common  share.  All share and per
share   information   in  the   accompanying   financial   statements  has  been
retroactively  adjusted for this  reverse  stock split and stock  dividend.  The
Company also increased its authorized common shares to 30,000,000.  The series L
preferred  stock is  voting,  convertible  to common  stock  share for share and
carries a dividend rate equal to 20% of the Net Cash Flow, as defined, after the
Company  generates  in excess of  $1,000,000  in Net Cash Flow after  January 1,
2003.  The Company may redeem the preferred  shares from time to time for $5 per
share.  In the  event of  liquidation,  the  preferred  stock is  entitled  to a
distribution of assets equal to $10 per share.

NOTE 3- SUBSEQUENT EVENTS
-------------------------

On August 5, 2003 Empiric Energy settled  indebtedness  to Anderson  Exploration
Co., Inc. of $225,807 by issuing  $50,000  cash,  and a new Series C Convertible
Preferred  Stock will be  designated  and issued to consist of a total of 17,500
shares  having  a par  value  of $0.05  per  share,  with  each  share  having a
liquidation  preference  of $10.00 for a total of  $175,000,  and it will not be
entitled  to  dividends.  Each  share of the stock will be  convertible,  at the
option of the holder, into 40 shares of restricted common stock of Empiric.  The
Stock  will have such  other  and  further  rights,  terms and  conditions,  not
inconsistent with the above, as will be set forth in the Designation  thereof as
adopted by the Empiric board of  directors.  Upon creation of said stock it will
be issued to Anderson.

    ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
                             RESULTS OF OPERATIONS.

The  following  discussion  should  be read in  conjunction  with the  Company's
Financial   Statements  and  Notes  thereto,   included  elsewhere  herein.  The
information  below should not be  construed to imply that the results  discussed
herein will necessarily  continue into the future or that any conclusion reached
herein will necessarily be indicative of actual operating results in the future.
Such discussion represents only the best present assessment of management of the
Company.

Results of Operations of the Company

Nine Months Ended September 30, 2003 Compared to the Nine Months Ended September
30, 2002

Revenues of $68,905  were  $27,371  higher than 2002.  The  increase  was due to
higher oil and gas.

Production  expense of $51,985 was  $49,315  higher than 2002 due to expenses on
South Louisiana wells.

Depletion and depreciation  expenses of $29,944 were $2,807 higher than 2002 due
to the increase in the depletable base.

                                       6

<PAGE>

General and  administrative  expense of $362,655 was $107,989  higher than 2002.
The  expenses  and  administrative  cost  were  higher  due  to an  increase  in
consulting fees.

Interest  expense and  financing  costs of ($238,031)  was $237,693  higher than
2002.  The  increase was due to the  issuance of common and  preferred  stock in
settlement of debt.

Three  Months  Ended  September  30,  2003  Compared to the Three  Months  Ended
September 30, 2002.

Revenues of $8,334 were  $23,767  lower than 2002.  The  decrease  was due to no
production in South Louisiana Wells.

Production  expense of $1,163 was $1,468  higher  than 2002 due to  expenses  on
South Louisiana wells.

Depletion and  depreciation  expenses of $7,503 were $7,884 higher than 2002 due
to the increase in the depletable base.

General and Administrative expense of $135,582 was $71,616 higher than 2002. The
expenses and  administrative  cost were higher due to an increase in  consulting
fees.

Interest  expense and financing costs of ($33,485) was $38,451 higher than 2002.
The increase was due to the issuance of common and preferred stock in settlement
of debt for interest and financing costs.

As noted in the annual financial statements,  the Company has suffered recurring
losses from operations.  Future positive results are a function of the Company's
ability to raise capital or utilize  securities to acquire producing  properties
or drill  developmental  wells in order to  generate  profits.  In the event the
Company is not able to raise capital or acquire properties, there is doubt about
the Company's ability to continue as a going concern.

Liquidity and Capital Resources

Cash flows  provided a decrease of $26,434  leaving  cash  balance of $60,476 at
September 30, 2003. Net cash provided by operating activities was $(379,283) due
primarily  to the  net  loss of  $613,710,  offset  by  non-cash  expenses,  the
increases  in the accruals of current  liabilities,  and the sale of interest in
the Texas Panhandle properties.

At September 30, 2003,  the Company had a working  capital  deficit of $ 636,301
and a equity to debt ratio of  approximately  4 to 1. The  Company  needs and is
seeking the infusion of working capital for expanded  drilling and developmental
programs,   for  further  debt  reduction  and  for  acquisition  of  production
properties to obtain improved cash flow.

Subsequent Events

On August 5, 2003 Empiric Energy settled  indebtedness  to Anderson  Exploration
Co., Inc. of $225,807 by issuing  $50,000  cash,  and a new Series C Convertible
Preferred  Stock will be  designated  and issued to consist of a total of 17,500
shares  having  a par  value  of $0.05  per  share,  with  each  share  having a
liquidation  preference  of $10.00 for a total of  $175,000,  and it will not be
entitled  to  dividends.  Each  share of the stock will be  convertible,  at the
option of the holder, into 40 shares of restricted common stock of Empiric.  The
Stock  will have such  other  and  further  rights,  terms and  conditions,  not
inconsistent with the above, as will be set forth in the Designation  thereof as
adopted by the Empiric board of  directors.  Upon creation of said stock it will
be issued to Anderson.

Empiric Energy,  Inc. sold its working  interest in Texas  Panhandle  properties
primarily in Moore and Potter Counties to H & M Oil & Gas, LLC in September. The
property was sold for $121,847.


                                        7

<PAGE>

                         ITEM 3. CONTROLS AND PROCEDURES

Within 90 days prior to the filing of this  report,  the Company  carried out an
evaluation  of the  effectiveness  of the design and  operation of the Company's
disclosure  controls and  procedures.  This evaluation was carried out under the
supervision and with the  participation of the Company's  management,  including
the Company's  Chairman and Chief Executive  Officer.  Based on that evaluation,
the Company's  Chairman and Chief Executive Officer concluded that the Company's
disclosure control and procedures are effective.  There have been no significant
changes in the  Company's  internal  controls or in other  factors,  which could
significantly  affect  internal  controls  subsequent  to the date  the  Company
carried out its evaluation.

Disclosure  controls  and  procedures  are  designed to ensure that  information
required  to be  disclosed  in  Company  reports  filed or  submitted  under the
Exchange  Act is recorded,  processed  summarized  and reported  within the time
periods specified in the Securities and Exchange  Commission's  rules and forms.
Disclosure  controls and procedures include,  without  limitation,  controls and
procedures  designed to ensure that information  required to be disclosed in the
Company's  reports filed under the Exchange Act is accumulated and  communicated
to management,  including the Company's  Chairman,  Chief Executive  Officer and
President,  and the Company's Chief Financial  Officer as appropriate,  to allow
timely decision regarding required disclosure.

                                    PART II.

                                OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDINGS

NONE

ITEM 2.  CHANGES IN SECURITIES

253,000 shares of Common Stock were issued.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

NONE

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

NONE

ITEM 5.  OTHER INFORMATION

An 8-K was filed on August 25, 2003 for the  election  of two new board  members
elected at Empiric Energy, Inc.'s Annual Shareholders Meeting on May 27, 2003.

An 8-K was file in September change of auditors was issued,  due the resignation
of Whitley  Penn and Turner,  Stone & Company was hired as our auditor of record
in September.

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

Exhibit  31.1 -  Certification  of  Chief  Financial  Officer  required  by Rule
13a-14(a) or Rule 15d-14(a) of the  Securities  Exchange Act of 1934, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).

Exhibit 32.1 - Certification  of Chief Executive  Officer  pursuant to 18 U.S.C.
Section 1350, as adopted  pursuant to Section 906 of the  Sarbanes-Oxley  Act of
2002 (filed herewith).

                                        8


<PAGE>

                                    SIGNATURE

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.

Date: November 14, 2003


                                         EMPIRIC ENERGY, INC.

                                         By:  /s/  James J. Ling
                                            ------------------------------------
                                            James J. Ling
                                            Chairman and Chief Executive Officer





































                                        9