SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

[X]      Quarterly Report Pursuant To Section 13 Or 15(d) of the Securities
         Exchange Act of 1934

For the Quarterly Period Ended June 30, 2000

Or

[  ]     Transition Report Pursuant To Section 13 Or 15(d) of the Securities
         Exchange Act of 1934

For the transition period from                   to
                             Commission file number 0-17198


                ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP

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


Oklahoma                                                             73-1329487
--------------------------------------------------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
incorporation or organization)

10830 E 45th Street
Suite 307

Tulsa, Oklahoma                                                           74146
--------------------------------------------------------------------------------
(Address of principal executive offices)                             (Zip Code)

Registrant's telephone number, including area code: (918) 663-2500

Not applicable

--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report


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. Yes X No


<PAGE>


                ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP

                                      INDEX

PART I.       FINANCIAL INFORMATION

Item 1.       Financial Statements.

Balance Sheets as of June 30, 2000 (Unaudited) and December 31, 1999

Schedule of Portfolio Investments as of June 30, 2000 (Unaudited)

Statements of Operations for the Three and Six Months Ended June 30, 2000 and
1999 (Unaudited)

Statements of Cash Flows for the Six Months Ended June 30, 2000 and 1999
(Unaudited)

Statement of Changes in Partners' Capital for the Six Months Ended June 30, 2000
 (Unaudited)

Notes to Financial Statements (Unaudited)

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

Item 3.       Quantitative and Qualitative Disclosures about Market Risk.

PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings.

Item 2.       Changes in Securities and Use of Proceeds.

Item 3.       Defaults upon Senior Securities.

Item 4.       Submission of Matters to a Vote of Security Holders.

Item 5.       Other Information.

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



<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
BALANCE SHEETS
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                                          June 30, 2000          December 31,
                                                                                            (Unaudited)               1999
                                                                                        -----------------     -----------------
ASSETS

Portfolio investments, at fair value (cost of $1,484,986 as of
   June 30, 2000 and $1,935,622 as of December 31, 1999)                                 $      6,785,692      $      7,528,215
Short-term investments at amortized cost                                                                -               747,585
Cash and cash equivalents                                                                       1,128,412               202,075
Accrued interest receivable                                                                         3,234                     -
                                                                                         ----------------      ----------------

TOTAL ASSETS                                                                             $      7,917,338      $      8,477,875
                                                                                         ================      ================


LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
Accounts payable and accrued expenses                                                    $         55,776      $         60,421
Due to Management Company                                                                          70,025               139,300
Due to Independent General Partners                                                                10,500                10,500
                                                                                         ----------------      ----------------
   Total liabilities                                                                              136,301               210,221
                                                                                         ----------------      ----------------

Partners' Capital:
Managing General Partner                                                                           24,804                26,751
Individual General Partners                                                                           963                 1,038
Limited Partners (10,248 Units)                                                                 2,454,564             2,647,272
Unallocated net unrealized appreciation of investments                                          5,300,706             5,592,593
                                                                                         ----------------      ----------------
   Total partners' capital                                                                      7,781,037             8,267,654
                                                                                         ----------------      ----------------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                                  $      7,917,338      $      8,477,875
                                                                                         ================      ================

</TABLE>

See notes to financial statements.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
SCHEDULE OF PORTFOLIO INVESTMENTS (Unaudited)
As of June 30, 2000
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                           Initial
                                                                          Investment
Investment                                                                  Date                  Cost               Fair Value
-------------------------------------------------------------------------------------------------------------------------------
Data Critical Corp.*(A)(B)(C)
Wireless data transmission
503,125 shares of Common Stock                                         April 1993           $      850,000       $    6,540,625
-------------------------------------------------------------------------------------------------------------------------------
Silverado Foods, Inc.(A)(B)
Gourmet snacks and food products
705,681 shares of Common Stock                                         June 1992                   529,900                    0
Warrant to purchase 35,000 shares of Common Stock
   at $.625 per share, expiring 12/19/02                                                                 0                    0
-----------------------------------------------------------------------------------------------------------------------------
UroCor, Inc. (A)(B)
Urological disease management
53,474 shares of Common Stock                                          May 1991                    105,086              245,067
-------------------------------------------------------------------------------------------------------------------------------
Total Portfolio Investments                                                                 $    1,484,986       $    6,785,692
                                                                                            ==============       ==============

Supplemental Information - Liquidated Portfolio Investments: (D)

                                                                                                  Realized
                                                                                Cost            Gain (Loss)          Return

Totals from Liquidated Portfolio Investments                             $     8,488,068       $   3,418,292   $     11,906,360
                                                                         ===============       =============   ================

                                                                                                Combined            Combined
                                                                                            Unrealized and         Fair Value
                                                                               Cost           Realized Gain        and Return

Totals from Active & Liquidated Portfolio Investments                   $     9,973,054       $    8,718,998      $   18,692,052
                                                                        ===============       ==============      ===============
</TABLE>

(A)  Public company

(B) Originally qualified as an "Oklahoma business venture" under Oklahoma law.

(C)  In June 2000,  the  Partnership  sold 50,000 common shares of Data Critical
     Corp. for $750,600, resulting in a realized gain of $590,600.

(D)  Amounts  provided  for  "Supplemental  Information:   Liquidated  Portfolio
     Investments" are cumulative from inception through June 30, 2000.

* May be deemed  an  affiliated  person of the  Partnership  as  defined  in the
Investment Company Act of 1940.

See notes to financial statements.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
STATEMENTS OF OPERATIONS (Unaudited)
For the Three and Six Months Ended June 30,
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                       Three Months Ended               Six Months Ended
                                                                            June 30,                       June 30,
                                                                     2000            1999           2000             1999
                                                                --------------   ------------  --------------  -------------
INVESTMENT INCOME AND EXPENSES

   Income:
   Interest from short-term investments                         $       14,742   $      7,430  $       37,503  $         16,960
   Other income                                                              -              -           1,200                 -
   Reversal of accrued interest income from portfolio
     investments                                                             -              -               -           (28,778)
                                                                --------------   ------------  --------------  -----------------
   Total investment income                                              14,742          7,430          38,703           (11,818)
                                                                --------------   ------------  --------------  ----------------

   Expenses:
   Management fee                                                       40,000         40,000          80,000            80,000
   Professional fees                                                    15,205         11,514          33,342            34,140
   Independent General Partners' fees                                   10,500         12,000          21,000            23,500
   Mailing and printing                                                  7,243          3,071          12,152             7,717
   Custodial fees                                                          400            500             800             1,007
   Miscellaneous                                                             -            456               -             1,425
                                                                --------------   ------------  --------------  ----------------
   Total investment expenses                                            73,348         67,541         147,294           147,789
                                                                --------------   ------------  --------------  ----------------

NET INVESTMENT LOSS                                                    (58,606)       (60,111)       (108,591)         (159,607)

Net realized gain from portfolio investments                           590,600        417,041       1,984,972           192,199
                                                                --------------   ------------  --------------  ----------------

NET REALIZED GAIN FROM OPERATIONS                                      531,994        356,930       1,876,381            32,592

Change in net unrealized appreciation of portfolio
   investments                                                         704,868       (394,134)       (291,887)       (1,496,109)
                                                                --------------   ------------  --------------        ----------

NET INCREASE (DECREASE) IN NET

   ASSETS RESULTING FROM OPERATIONS                             $    1,236,862   $    (37,204) $    1,584,494  $     (1,463,517)
                                                                ==============   ============  ==============  ================
</TABLE>


See notes to financial statements.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
STATEMENTS OF CASH FLOWS (Unaudited)
For the Six Months Ended June 30,
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                                                  2000                1999
                                                                                             --------------     ---------------

CASH FLOWS USED FOR OPERATING ACTIVITIES

Net investment loss                                                                          $     (108,591)    $      (159,607)
Adjustments to reconcile net investment loss to cash
   used for operating activities:

Decrease in payables, net                                                                           (73,920)            (99,988)
Decrease (increase) in accrued interest on short-term investments                                     8,260              (1,220)
(Increase) decrease in accrued interest receivable                                                   (3,234)             28,778
                                                                                             --------------     ---------------
Cash used for operating activities                                                                 (177,485)           (232,037)
                                                                                             --------------     ---------------

CASH FLOWS PROVIDED FROM INVESTING ACTIVITIES

Proceeds from the sale of portfolio investments                                                   2,435,608             803,863
Net return of cost (purchase) of short-term investments                                             739,325            (297,641)
                                                                                             --------------     ----------------
Cash provided from investing activities                                                           3,174,933             506,222
                                                                                             --------------     ---------------

CASH FLOWS USED FOR FINANCING ACTIVITIES

Cash distributions paid to partners                                                              (2,071,111)                  -
                                                                                             --------------     ---------------
Cash used for financing activities                                                               (2,071,111)                  -
                                                                                             --------------     ---------------

Increase in cash and cash equivalents                                                               926,337             274,185
Cash and cash equivalents at beginning of period                                                    202,075             731,956
                                                                                             --------------     ---------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                   $    1,128,412     $     1,006,141
                                                                                             ==============     ===============

</TABLE>

See notes to financial statements.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
STATEMENT OF CHANGES IN PARTNERS' CAPITAL (Unaudited)
For the Six Months Ended June 30, 2000
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                                               Unallocated
                                               Managing      Individual                     Net Unrealized
                                                General        General         Limited        Appreciation
                                                Partner       Partners        Partners       of Investments           Total
                                             -----------    -----------    --------------    ---------------   ---------------
Balance at beginning of period               $    26,751      $  1,038     $    2,647,272     $    5,592,593   $     8,267,654

Cash distribution paid - April 25, 2000          (20,711)         (800)        (2,049,600)                 -        (2,071,111)

Net investment loss                               (1,086)          (42)          (107,463)                 -          (108,591)
Net realized gain from investments                19,850           767          1,964,355                  -         1,984,972
Change in unrealized

   appreciation of investments                         -             -                  -           (291,887)         (291,887)
                                             -----------      --------     --------------     --------------   ---------------

Balance at end of period                     $    24,804      $    963     $    2,454,564(A)  $    5,300,706   $     7,781,037
                                             ===========      ========     ==============     ==============   ===============
</TABLE>


(A)  The net  asset  value  per  $1,000  unit of  limited  partnership  interest
     ("Unit"), including an assumed allocation of net unrealized appreciation of
     investments,  was $751 as of June 30, 2000.  Additionally,  cumulative cash
     distributions paid to limited partners as of June 30, 2000 totaled $840 per
     Unit.

See notes to financial statements.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
NOTES TO FINANCIAL STATEMENTS (Unaudited)

1.       Organization and Purpose

ML Oklahoma Venture Partners, Limited Partnership (the "Partnership") was formed
on July 15, 1988 under the Revised Uniform Limited  Partnership Act of the State
of Oklahoma.  The  Partnership's  operations  commenced on August 14, 1989. MLOK
Co., Limited  Partnership,  the managing general partner of the Partnership (the
"Managing General Partner"),  is an Oklahoma limited  partnership formed on July
15, 1988,  the general  partner of which is Merrill Lynch  Venture  Capital Inc.
(the "Management Company"), an indirect subsidiary of Merrill Lynch & Co., Inc.

The  Partnership's  objective is to achieve  long-term  capital  appreciation by
making venture  capital  investments in new or developing  companies,  primarily
Oklahoma  companies,  and other special investment  situations.  The Partnership
does not engage in any other business or activity.  The Partnership is scheduled
to terminate no later than December 31, 2000.  However,  the Individual  General
Partners have the right to extend the term of the  Partnership for an additional
two-year period if they determine that such extension is in the best interest of
the Partnership.  The Managing General Partner is working toward liquidating the
Partnership's  remaining  assets  and  terminating  the  Partnership  as soon as
practical with the goal of maximizing returns to Partners.

2.       Significant Accounting Policies

Valuation of Investments - Short-term investments are carried at amortized cost,
which approximates  market.  Portfolio  investments are carried at fair value as
determined  quarterly by the Managing  General  Partner under the supervision of
the Individual  General  Partners.  The Managing General Partner  determines the
fair value of the  Partnership's  portfolio  investments by applying  consistent
guidelines.  Publicly held portfolio securities are valued at the closing public
market  price on the  valuation  date,  less an  appropriate  discount for sales
restrictions,  the size of the  Partnership's  holdings  and the  public  market
trading  volume.  Privately held  portfolio  securities are valued at cost until
significant  developments  affecting the portfolio  company  provide a basis for
change in valuation. The fair value of private securities is adjusted to reflect
1) meaningful  third-party  transactions in the private market or 2) significant
progress or slippage in the development of the company's business such that cost
is no longer reflective of fair value. As a venture capital investment fund, the
Partnership's  portfolio  investments  involve  a high  degree of  business  and
financial  risk that can result in  substantial  losses.  The  Managing  General
Partner  considers such risks in determining the fair value of the Partnership's
portfolio investments.

Use of Estimates - The  preparation of financial  statements in conformity  with
generally accepted  accounting  principles requires management to make estimates
and assumptions  that affect the reported  amounts of assets and liabilities and
disclosure of contingent  assets and liabilities as of the date of the financial
statements  and the  reported  amounts  of  revenues  and  expenses  during  the
reporting period. Actual results could differ from those estimates.

Investment  Transactions - Investment  transactions  are recorded on the accrual
method.  Portfolio  investments  are  recorded on the trade  date,  the date the
Partnership  obtains an  enforceable  right to demand the  securities or payment
thereof.  Realized  gains  and  losses on  investments  sold are  computed  on a
specific identification basis.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
NOTES TO FINANCIAL STATEMENTS (Unaudited), continued

Income Taxes - No provision  for income taxes has been made since all income and
losses are  allocable  to the Partners for  inclusion  in their  respective  tax
returns.  The Partnership's net assets for financial  reporting  purposes differ
from  its  net  assets  for  tax  purposes.   Net  unrealized   appreciation  of
approximately  $5.3  million as of June 30, 2000,  was  recorded  for  financial
statement  purposes but has not been recognized for tax purposes.  Additionally,
from inception to June 30, 2000, other timing differences totaling $1.4 million,
including  the original  sales  commissions  paid and other costs of selling the
Units have been recorded on the Partnership's  financial statements but have not
yet been deducted for tax purposes.

Statements of Cash Flows - The Partnership  considers its interest-bearing  cash
account to be cash equivalents.

3.       Allocation of Partnership Profits and Losses

Pursuant to the Partnership Agreement,  profits from venture capital investments
are allocated to all Partners in proportion to their capital contributions until
all  Partners  have  been  allocated  a  10%  Priority  Return  from  liquidated
investments.  Profits in excess of this amount are allocated 30% to the Managing
General  Partner  and  70%  to all  Partners  in  proportion  to  their  capital
contributions  until the Managing  General Partner has been allocated 20% of the
total profits from venture capital investments. Thereafter, profits from venture
capital investments are allocated 20% to the Managing General Partner and 80% to
all Partners in proportion to their  capital  contributions.  Profits from other
sources  are   allocated  to  all  Partners  in   proportion  to  their  capital
contributions.

Losses  are   allocated  to  all  Partners  in   proportion   to  their  capital
contributions. However, if profits had been previously allocated in the 70-30 or
80-20  ratios as discussed  above,  then losses will be allocated in the reverse
order in which profits were allocated.

4.       Related Party Transactions

The  Management  Company is responsible  for the  management and  administrative
services  necessary for the operation of the Partnership.  From inception of the
Partnership  through  December 31, 1998, the  Management  Company had received a
management fee at an annual rate of 2.5% of the gross capital  contributions  to
the Partnership,  reduced by selling commissions and organizational and offering
expenses paid,  capital  distributed and realized losses,  with a minimum annual
fee of $200,000.  Effective  January 1, 1999, the  Management  Company agreed to
reduce the minimum management fee from $200,000 to $160,000 per annum.

As  compensation  for services  rendered to the  Partnership,  each of the three
Independent   General  Partners  had  received  $16,000  annually  in  quarterly
installments   through  December  31,  1998.  Effective  January  1,  1999,  the
Individual  General  Partners  agreed  to  reduce  the  annual  fee paid to each
Independent General Partner from $16,000 to $12,000. In addition, the Individual
General  Partners  receive  $1,000  for each  meeting  of the  General  Partners
attended,  $1,000  for each  committee  meeting  attended  ($500 if a  committee
meeting is held on the same day as a meeting of the General  Partners)  and $500
for meetings held by telephone conference.


<PAGE>


ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP
NOTES TO FINANCIAL STATEMENTS (Unaudited), continued

5.       Limitation on Operating Expenses

The Management Company has undertaken to the Partnership that it will reduce its
management  fee or otherwise  reimburse  the  Partnership  in order to limit the
annual operating  expenses of the Partnership,  exclusive of the management fee,
to an amount not to exceed $203,720.

6.       Classification of Portfolio Investments

The Partnership's  portfolio investments,  all of which are located in the state
of  Oklahoma,  except  Data  Critical  Corp.,  which is  located in the state of
Washington, were categorized as follows as of June 30, 2000.
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

Type of Investments                                     Cost            Fair Value      Net Assets*
-------------------                                -------------      -------------     -----------
Common Stock                                       $   1,484,986      $   6,785,692        87.21%
                                                   =============      =============     =========

Industry

Healthcare/Biotechnology                           $     105,086      $     245,067         3.15%
Data Communications                                      850,000          6,540,625        84.06%
Food Manufacturing and Distribution                      529,900                  0         0.00%
                                                   -------------      -------------     ---------
                                                   $   1,484,986      $   6,785,692        87.21%
                                                   =============      =============     =========
</TABLE>

*Represents fair value as a percentage of net assets.

7.       Cash Distributions

Cash  distributions  paid  during the  periods  presented  and  cumulative  cash
distributions to partners from the inception of the Partnership through June 30,
2000 are listed below:
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                       Managing         Independent
                                                        General           General           Limited         Per $1,000
Distribution Date                                       Partner          Partners          Partners            Unit
-----------------                                    ------------      -------------   ----------------    --------
Inception to December 31, 1999                       $     66,274       $     2,560    $    6,558,720      $    640
April 25, 2000                                             20,711               800         2,049,600           200
                                                     ------------       -----------    --------------      --------
Cumulative as of June 30, 2000                       $     86,985       $     3,360    $    8,608,320      $    840
                                                     ============       ===========    ================    ========
</TABLE>

8.       Subsequent Events

In July 2000,  the  Partnership  sold 15,000 common  shares of UroCor,  Inc. for
$86,247, resulting in a realized gain of $4,500.

In August 2000, the General  Partners  approved a cash  distribution to partners
totaling  $776,667  to be paid in October  2000.  Limited  partners of record on
September  30,  2000 will  receive  $768,600,  or $75 per Unit,  the  Individual
General Partners will receive $300 and the Managing General Partner will receive
$7,767.

9.       Interim Financial Statements

In  the  opinion  of the  Managing  General  Partner,  the  unaudited  financial
statements as of June 30, 2000, and for the six-month period then ended, reflect
all  adjustments  necessary  for the fair  presentation  of the  results  of the
interim period.


<PAGE>


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

Liquidity and Capital Resources

The  Partnership  invests its idle cash balances in short-term  securities  with
maturities of less than one year and in an interest-bearing  cash account. As of
June 30, 2000, the  Partnership  held  $1,128,412 in its  interest-bearing  cash
account.  Interest  earned  from such idle cash  balances  totaled  $14,742  and
$37,503 for the three and six months ended June 30, 2000, respectively. Interest
earned in future periods is subject to fluctuations in short-term interest rates
and changes in amounts available for investment in such securities. Funds needed
to cover future operating  expenses and follow-on  investments,  if any, will be
obtained from existing cash reserves,  interest and other investment  income and
proceeds from the sale of portfolio investments.

The  Partnership  is scheduled to terminate no later than December 31, 2000. The
Individual General Partners have the right to extend the term of the Partnership
for an additional  two-year  period if they  determine that such extension is in
the best interest of the Partnership.  However,  the Managing General Partner is
working toward  liquidating the  Partnership's  remaining assets and terminating
the  Partnership as soon as practicable  with the goal of maximizing  returns to
partners.

The Partnership  will not make  investments in new portfolio  companies and does
not expect to make  additional  follow-on  investments  in any of the  remaining
portfolio companies.  Generally, the Partnership will distribute to partners all
proceeds received from the sale of its portfolio investments,  after an adequate
reserve for future operating  expenses,  as soon as practicable after receipt of
such proceeds. Funds needed to cover the future operating expenses and follow-on
investments,  if any, will be obtained from existing cash reserves, interest and
other  investment  income and proceeds from the sale of the remaining  portfolio
investments.

As discussed  below,  during the six months ended June 30, 2000, the Partnership
sold  certain  portfolio  investments  for  net  proceeds  totaling  $2,435,608.
Additionally,  subsequent  to  the  end  of  the  quarter,  in  July  2000,  the
Partnership sold an additional 15,000 common shares of UroCor, Inc. for $86,247.

On April 25, 2000, the Partnership made a cash distribution to partners totaling
$2,071,111. Limited partners of record on March 31, 2000 received $2,049,600, or
$200 per Unit, the Individual  General  Partners  received $800 and the Managing
General  Partner  received  $20,711.  The  General  Partners  have  approved  an
additional cash distribution to partners totaling $776,667 to be paid in October
2000. Limited partners of record on September 30, 2000 will receive $768,600, or
$75 per Unit, the Individual General Partners will receive $300 and the Managing
General Partner will receive $7,767.

Results of Operations

For the three and six months  ended June 30,  2000,  the  Partnership  had a net
realized gain from operations of $531,994 and $1,876,381,  respectively. For the
three and six months ended June 30,  1999,  the  Partnership  had a net realized
gain from operations of $356,930 and $32,592, respectively. Net realized gain or
loss  from  operations  is  comprised  of (1) net  realized  gain  or loss  from
portfolio  investments  and (2) net  investment  income  or loss  (interest  and
dividend income less operating expenses).


<PAGE>


Realized  Gains and Losses from  Portfolio  Investments  - For the three and six
months  ended  June 30,  2000,  the  Partnership  had a net  realized  gain from
portfolio  investments of $590,600 and  $1,984,972,  respectively.  The realized
gain for the three months ended June 30, 2000,  resulted from the sale of 50,000
common  shares of Data  Critical  Corp.  in the public  market for net  proceeds
totaling $750,600. During the three months ended March 31, 2000, the Partnership
sold  225,700  common  shares of UroCor,  Inc.  for  $1,343,840,  resulting in a
realized gain of $1,053,724.  The  Partnership  also sold its remaining  130,000
common  shares of ZymeTx,  Inc. for  $325,004,  resulting in a realized  gain of
$324,484.  Additionally,  in  March  2000,  the  Partnership  received  $18,019,
representing  the final escrow release in connection  with the 1995 sale of Bace
Manufacturing,  Inc. The payment was  comprised of a $16,164  realized  gain and
$1,855 of interest.

For the three and six months  ended June 30,  1999,  the  Partnership  had a net
realized gain from portfolio investments of $417,041 and $192,199, respectively.
The realized  gain for the three months ended June 30, 1999,  resulted  from the
sale of 150,000  common  shares of UroCor in the public  market for net proceeds
totaling $799,965. During the three months ended March 31, 1999, the Partnership
had a net realized loss from portfolio investments of $224,842,  consisting of a
$228,740  realized loss from the  write-off of the remaining  cost of the bridge
loan due from Silverado Foods, Inc.,  partially offset by a $3,898 realized gain
resulting from a payment  received in connection  with the February 1995 sale of
Bace Manufacturing.

Investment  Income and  Expenses - For the three  months ended June 30, 2000 and
1999,  the  Partnership  had a net  investment  loss  of  $58,606  and  $60,111,
respectively.  The $1,505  favorable  change in net investment loss for the 2000
period compared to the 1999 period resulted from a $7,312 increase in investment
income partially offset by a $5,807 increase in operating expenses. The increase
in investment  income was the result of an increase in interest from  short-term
investments,  due to an increase in funds available for such investments  during
the 2000 period  compared to the same period in 1999.  The increase in operating
expenses  primarily  reflects  increases  in  professional  fees and mailing and
printing costs,  partially  offset by lower meeting fees paid to the Independent
General  Partners for the three months ended June 30, 2000  compared to the same
period in 1999. The increase in  professional  fees primarily is attributable to
additional outside  accounting fees relating to quarterly reviews.  The increase
in mailing and printing expenses reflects the cost of additional limited partner
notifications and certain accrual adjustments made during the 2000 period.

For the six  months  ended June 30,  2000 and 1999,  the  Partnership  had a net
investment loss of $108,591 and $159,607,  respectively.  The $51,016  favorable
change in net  investment  loss for the 2000 period  compared to the 1999 period
resulted  from a $50,521  increase in  investment  income and a $495 decrease in
operating  expenses.  The  increase  in  investment  income  included  a $28,778
increase in interest and other income from portfolio investments, resulting from
the reversal  during 1999 of accrued  interest  income relating to a bridge loan
due from Silverado  Foods,  Inc., which was written off in 1999. The increase in
investment  income  also  included  an  increase  in  interest  from  short-term
investments,  due to an increase in funds available for such investments  during
the 2000  period  compared to the same  period in 1999.  The slight  decrease in
operating  expenses  resulted  from an increase in mailing and  printing  costs,
which  was  mostly  offset  with  small  decreases  in the  Partnership's  other
operating expenses for the 2000 period compared to the 1999 period. The increase
in mailing and printing expenses reflects the cost of additional limited partner
notifications and certain accrual adjustments made during the 2000 period.

The  Management  Company is responsible  for the  management and  administrative
services necessary for the operation of the Partnership.  The Management Company
receives a  management  fee of 2.5% of the gross  capital  contributions  to the
Partnership,  reduced by selling  commissions  and  organizational  and offering
expenses paid by the Partnership,  capital distributed and realized losses, with
a minimum  annual fee of  $160,000,  which was reduced from  $200,000  effective
January 1, 1999.  Such fee is  determined  and paid  quarterly in arrears.  As a
result,  the management fee was $40,000 for the three months ended June 30, 2000
and 1999.  The management fee was $80,000 for the six months ended June 30, 2000
and 1999. The management fee and other expenses  incurred by the Partnership are
paid with  existing  cash reserves and funds  provided  from  operations,  which
includes proceeds from the sale of portfolio investments.

Unrealized   Gains  and  Losses  and  Changes  in  Unrealized   Appreciation  of
Investments  - For the six months ended June 30,  2000,  the  Partnership  had a
$945,501  net  unrealized  gain,  primarily  resulting  from an  increase in the
valuation of its  investment in Data Critical  Corp.,  reflecting  the increased
public  market  price  of the  company's  common  stock  as of  June  30,  2000.
Offsetting  this increase was the transfer of  $1,237,388 of unrealized  gain to
realized  gain,  relating to portfolio  investments  sold during the period,  as
discussed above. As a result, the Partnership has a $291,887  unfavorable change
to net unrealized  appreciation  of investments  for the six-month  period ended
June 30, 2000.

For the six months ended June 30, 1999,  the  Partnership  had a $1,147,783  net
unrealized loss resulting from the net downward revaluation of its investment in
UroCor and ZymeTx.  Unrealized  appreciation  was further reduced for the period
due to the transfer of $348,326 from  unrealized gain to realized gain resulting
from the sale of 150,000  common  shares of UroCor,  as  discussed  above.  As a
result,  net unrealized  appreciation of investments  declined by $1,496,109 for
the six-month period ended June 30, 1999.

Net Assets - Changes to net assets  resulting  from  operations are comprised of
(1) net realized gain or loss and (2) changes to net unrealized  appreciation or
depreciation of portfolio investments.

As of June 30, 2000, the Partnership's net assets were $7,781,037,  reflecting a
decrease of $486,617 from net assets of $8,267,654 as of December 31, 1999. This
decrease  reflects  the  $2,071,111  of cash  distributions  paid during the six
months ended June 30, 2000 exceeding the $1,584,494  increase in net assets from
operations  for the  period.  The net  increase in net assets for the period was
comprised of the $1,876,381 net realized gain from operations  partially  offset
by the $291,887 unfavorable change in net unrealized appreciation of investments
for the six months ended June 30, 2000.

As of June 30, 1999, the Partnership's net assets were $5,449,871,  reflecting a
decrease of  $1,463,517  from net assets of  $6,913,388 as of December 31, 1998.
This  decrease was  comprised of the $32,592 net realized  gain from  operations
offset by the $1,496,109  unfavorable  change in net unrealized  appreciation of
investments for the six months ended June 30, 1999.

Gains or losses from investments are allocated to the partners' capital accounts
when realized in accordance with the Partnership  Agreement (see Note 3 of Notes
to Financial  Statements).  However,  for purposes of calculating  the net asset
value per unit of limited partnership interest,  net unrealized  appreciation or
depreciation  of  investments  has been included as if the net  appreciation  or
depreciation  had  been  realized  and  allocated  to the  limited  partners  in
accordance with the Partnership Agreement. Pursuant to such calculation, the net
asset value per $1,000 Unit as of June 30, 2000 and  December  31, 1999 was $751
and $798, respectively.


<PAGE>


Item 3.  Quantitative and Qualitative Disclosures about Market Risk.
         -----------------------------------------------------------

The  Partnership  is subject to market risk arising from changes in the value of
its portfolio investments,  short-term investments, if any, and interest-bearing
cash  equivalents,  which may result from  fluctuations  in  interest  rates and
equity  prices.  The  Partnership  has calculated its market risk related to its
holdings  of these  investments  based on changes in  interest  rates and equity
prices utilizing a sensitivity analysis.  The sensitivity analysis estimates the
hypothetical  change in fair values, cash flows and earnings based on an assumed
10% change  (increase  or  decrease)  in interest  rates and equity  prices.  To
perform the  sensitivity  analysis,  the assumed 10% change is applied to market
rates  and  prices  on  investments  held by the  Partnership  at the end of the
accounting period.

The  Partnership's   portfolio  investments  had  an  aggregate  fair  value  of
$6,785,692  as of June 30,  2000.  An assumed 10% decline  from this fair value,
including  an  assumed  10%  decline  of the  per  share  market  prices  of the
Partnership's  publicly  traded  securities,  would result in a reduction to the
fair value of such investments and a corresponding unrealized loss of $678,569.

Market risk relating to the Partnership's interest-bearing cash equivalents held
as of June 30, 2000 is also considered to be immaterial.


<PAGE>


                           PART II - OTHER INFORMATION

Item 1.       Legal Proceedings.
              -----------------

The Partnership is not a party to any material pending legal proceedings.

Item 2.       Changes in Securities and Use of Proceeds.
              -----------------------------------------

Not applicable.

Item 3.       Defaults Upon Senior Securities.
              -------------------------------

Not applicable.

Item 4.       Submission of Matters to a Vote of Security Holders.
              ---------------------------------------------------

No matter was submitted to a vote of security  holders during the period covered
by this report.

Item 5.       Other Information.
              -----------------

None.



<PAGE>


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

              (a)              Exhibits

                  (3)    (a)   Amended  and  Restated  Certificate  of Limited
                               Partnership  of the  Partnership  dated as of
                               November 29, 1988.*

                         (b)   Amended  and   Restated   Agreement   of  Limited
                               Partnership  of  the  Partnership   dated  as  of
                               November 29, 1988.*

                         (c)   Amended  and   Restated   Agreement   of  Limited
                               Partnership of the Partnership dated as of August
                               14, 1989.**

                  (10)         Management  Agreement dated as of November 29,
                               1988 between the Partnership and the Management
                               Company.*

                  (27)         Financial Data Schedule.

                  (28)         (a) Prospectus of the Partnership  dated December
                               1, 1988 filed with the  Securities  and  Exchange
                               Commission  pursuant  to Rule 497 (b)  under  the
                               Securities  Act of  1933,  as  supplemented  by a
                               supplement dated April 25, 1989 filed pursuant to
                               Rule 497 (d) under the Securities Act of 1933.***

              (b)              No reports on Form 8-K have been filed during the
                               quarter for which this report is filed.
------------------------------

*        Incorporated  by reference to the  Partnership's  Annual Report on Form
         10-K for the  fiscal  year  ended  December  31,  1988  filed  with the
         Securities and Exchange Commission on April 3, 1989.

**       Incorporated by reference to the Partnership's Quarterly Report on Form
         10-Q for the quarter ended September 30, 1989 filed with the Securities
         and Exchange Commission on November 14, 1989.

***      Incorporated by reference to the Partnership's Quarterly Report on Form
         10-Q for the quarter ended March 31, 1989 filed with the Securities and
         Exchange Commission on May 15, 1989.


<PAGE>


                                   SIGNATURES

Pursuant  to the  requirements  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.

              ML OKLAHOMA VENTURE PARTNERS, LIMITED PARTNERSHIP


By:           MLOK Co., Limited Partnership
              its Managing General Partner

By:           Merrill Lynch Venture Capital Inc.
              its General Partner


By:           /s/     Kevin K. Albert

              Kevin K. Albert
              President

              (Principal Executive Officer)


By:           /s/     James V. Bruno

              James V. Bruno
              Vice President and Treasurer

              (Principal Financial and Accounting Officer)


By:           /s/     Diane T. Herte

              Diane T. Herte
              Vice President

Date:         August 14, 2000