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 June 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 August 8,  2003,  the  number of shares  outstanding  of the  Registrant's
Common stock was 11,808,970.

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



<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                                          7

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














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<PAGE>
<TABLE>
<CAPTION>

                                     PART I

ITEM 1.    FINANCIAL INFORMATION

                              EMPIRIC ENERGY, INC.
                                 BALANCE SHEETS

                                                                          June 30,     December 31,
                                                                           2003            2002
                                                                       ------------    ------------
<S>                                                                    <C>             <C>
Assets                                                                  (Unaudited)      (Audited)

Current assets:
     Cash and cash equivalents                                         $      5,587    $     86,911
     Oil and gas revenues receivable                                         17,550          19,584
                                                                       ------------    ------------
Total current assets                                                         23,137         106,495
Property and equipment:
     Oil and gas properties (full cost method):
        Unproved leasehold costs                                          3,953,848       2,979,004
        Proved leasehold costs and well equipment                         4,571,190       4,571,190
        Less accumulated depletion and impairment                        (4,552,138)
                                                                                         (4,529,975)
                                                                       ------------    ------------
Net property and equipment                                                3,972,900       3,020,219
Other assets                                                                 14,718          15,498
                                                                       ------------    ------------
Total assets                                                           $  4,010,755    $  3,142,212
                                                                       ============    ============

Liabilities and Stockholders' Equity
Current liabilities:
     Current portion of long-term debt                                 $      7,925    $     11,543
     Accounts payable and accrued expenses                                  364,676          99,962
     Payroll taxes payable                                                   74,605
                                                                                             71,643
     Notes payable                                                          153,292
                                                                                             75,000
     Income participation units payable                                     173,950         215,950
     Due to related parties                                                  56,490          21,763
                                                                       ------------    ------------
Total current liabilities                                                   830,938         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; 2,175,290 and 1,933,094 issued and
     outstanding, respectively.  Shares issued as a stock                   108,765          96,655
     dividend in January 2003 were applied retroactively to 2002

     Common stock, $.01 par value; 30,000,000 shares authorized;
        11,883,970 and 9,740,470 issued; 11,808,970 and 9,665,470           118,840          97,405
        shares outstanding, respectively
     Additional paid-in capital                                          12,537,774      11,477,317
     Accumulated deficit                                                 (9,382,951)     (8,939,699)
                                                                       ------------    ------------
                                                                          3,382,428       2,731,678
     Less interest on debt prepaid by issuance of common stock              (43,231)        (60,327)
     Less deferred stock compensation                                      (134,380)           --
     Less treasury stock, 75,000 shares, at cost                            (30,000)        (30,000)
                                                                       ------------    ------------
Total stockholders' equity                                                3,174,817       2,641,351
                                                                       ------------    ------------
Total liabilities and stockholders' equity                             $  4,010,755    $  3,142,212
                                                                       ============    ============
</TABLE>

                            See accompanying notes.


                                       3
<PAGE>
<TABLE>
<CAPTION>

                              EMPIRIC ENERGY, INC.

                            STATEMENTS OF OPERATIONS


                                                  Three Months Ended                Six Months Ended
                                                June 30,        June 30,        June 30,        June 30,
                                                  2003            2002            2003            2002
                                               (Unaudited)     (Unaudited)     (Unaudited)     (Unaudited)
                                              ------------    ------------    ------------    ------------
<S>                                           <C>             <C>             <C>             <C>
Revenues:
     Oil and gas revenues                     $     40,056    $      4,361    $     60,573    $      9,433
Cost and expenses:
     Production expense                             11,474           1,434          50,822           2,993
     Depletion and depreciation                     14,312             328          22,441          27,518
     General and administrative                    151,126          83,072         228,048         190,699
                                              ------------    ------------    ------------    ------------
Total costs and expenses                           176,912          84,834         301,311         221,210
                                              ------------    ------------    ------------    ------------

Other income (expenses):
     Interest expense and financing costs          (29,499)         (1,309)       (202,514)         (5,305)
                                              ------------    ------------    ------------    ------------


Net loss                                      $   (166,355)   $    (81,782)   $   (443,252)   $   (217,082)
                                              ============    ============    ============    ============

Basic and diluted net loss per common share   $      (0.01)   $      (0.01)   $      (0.04)   $      (0.03)
                                              ============    ============    ============    ============

Weighted average common shares outstanding      11,567,303       8,886,047      11,064,303       8,099,580
                                              ============    ============    ============    ============
</TABLE>





















                             See accompanying notes.

                                       4
<PAGE>
<TABLE>
<CAPTION>

                              EMPIRIC ENERGY, INC.

                             STATEMENT OF CASH FLOWS

                                                                                   Six Months Ended
                                                                             June 30, 2003    June 30, 2002
                                                                              (Unaudited)      (Unaudited)
                                                                             -------------    -------------
<S>                                                                          <C>              <C>
Operating Activities:
Net loss:                                                                    $    (443,252)   $    (217,082)
       Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:
         Depletion, depreciation and impairment                                     22,163           27,518
         Amortization of stock issued for interest                                 180,076             --
              Common stock issued for services                                      75,842             --
     Changes in assets and liabilities:
          Oil and gas revenues receivable and other assets                           2,814             (390)
          Accounts payable, accrued expenses, payroll taxes payable, and
                 income participation units payable                                267,676          (44,922)
               Due to related parties                                               34,727          (18,532)
                                                                             -------------    -------------
Net cash provided by (used in) operating activities                                140,046         (253,408)



Investing Activities:
     Purchase of oil and gas properties                                           (320,544)        (123,998)

Financing Activities:
     Borrowings on notes payable                                                    28,292             --
     Borrowings on long-term debt                                                     --             19,546
     Repayment of long-term debt                                                    (3,618)            --
     Proceeds from sales and subscription of common stock                           74,500          363,950
                                                                             -------------    -------------
    Net cash provided by financing activities                                       99,174          383,496
                                                                             =============    =============


Net increase (decrease) in cash and cash equivalents                               (81,324)           6,090
Cash and cash equivalents at beginning of year                                      86,911           13,328
                                                                             -------------    -------------
Cash and cash equivalents at end of period                                   $       5,587    $      19,418
                                                                             =============    =============
Supplemental Disclosures of Cash Flow Information
     Cash paid during the year for interest                                  $       2,128    $        --
                                                                             =============    =============

Non-cash Investing and Financing Transactions:
     Purchase of oil and gas properties with common stock                    $     414,300    $        --
                                                                             =============    =============


     Purchase of oil and gas properties with preferred stock                 $     190,000    $        --
                                                                             =============    =============

     Conversion of income participation units payable to common stock        $      50,000    $        --
                                                                             =============    =============

     Issuance of note payable for oil and gas properties                     $      50,000    $        --
                                                                             =============    =============
</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 six months ended
June 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

Six Months Ended June 30, 2003 Compared to the Six Months Ended June 30, 2002

Revenues of $60,573  were  $51,140  higher than 2002.  The  increase  was due to
higher oil and gas prices and new production on South Louisiana Wells.

Production  expense of $50,822 was  $47,829  higher than 2002 due to expenses on
South Louisiana wells.

Depletion and  depreciation  expenses of $22,441 were $5,077 lower than 2002 due
to the decrease in the depletable base.



                                       6
<PAGE>

General and administrative expense of $228,048 was $37,349 higher than 2002. The
expenses and  administrative  cost were higher due to an increase in  consulting
fees.

Interest  expense and financing costs of $202,514 was $197,209 higher than 2002.
The increase was due to the issuance of common and preferred stock in settlement
of debt.

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

Revenues of $40,056  were  $35,695  higher than 2002.  The  increase  was due to
higher oil and gas prices and new production on South Louisiana Wells.

Production  expense of $11,474 was  $10,040  higher than 2002 due to expenses on
South Louisiana wells.

Depletion and depreciation expenses of $14,312 were $13,984 higher than 2002 due
to the increase in the depletable base.

General and Administrative expense of $151,126 was $68,054 higher than 2002. The
expenses and  administrative  cost were higher due to an increase in  consulting
fees.

Interest  expense and financing  costs of $29,499 was $28,190  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 $81,324 leaving cash balance of $5,587 at June
30, 2003.  Net cash provided by operating  activities was $140,046 due primarily
to the net loss of $443,252,  offset by non-cash  expenses and the  increases in
the accruals of current liabilities.

At June 30, 2003,  the Company had a working  capital  deficit of $807,801 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.

                         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.


                                       7
<PAGE>

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

850,000 shares of Common Stock were issued.

ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

NONE

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

On May 27, 2003 an Annual Meeting of the Company was held. James J. Ling, Virgil
Pettigrew and J. T. Ling were  unanimously  elected to the Board of Directors of
the Company for one year until the next annual  meeting of  shareholders  in the
year 2004,  and Whitley  Penn was  retained as the  independent  auditors of the
Company for the calendar year ending December 31, 2003.

ITEM 5.  OTHER INFORMATION

An S-8 consulting  agreement  between Gordon Johnson and Renn Rothrock,  and the
Company was issued.

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: August 19, 2003


                                         EMPIRIC ENERGY, INC.

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






















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