[MILLING BENSON WOODWARD L.L.P. LETTERHEAD]


                                  May 12, 2004


Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549

Via Edgar Electronic Filing System


Gentlemen:

         Pursuant to regulations of the Securities and Exchange Commission,
submitted herewith for filing on behalf of Avoca, Incorporated (the "Company")
is the Company's Report on Form 10-QSB for the period ended March 31, 2004.

         This filing is being effected by direct transmission to the
Commission's EDGAR system.

                                                      Sincerely,


                                                     /s/ Charles A. Snyder


CAS/kj319283

<PAGE>

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark One)

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2004
                               ---------------

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from                         to
                              -------------------------  -----------------------

Commission file number 0-9219

                               AVOCA, INCORPORATED
        -----------------------------------------------------------------
       (Exact name of small business issuer as specified in its charter)


        -----------------------------------------------------------------
                                    Louisiana


        -----------------------------------------------------------------
         (State or other jurisdiction of incorporation or organization)

                                   72-0590868
        -----------------------------------------------------------------
                      (I.R.S. Employer Identification No.)

         228 St. Charles Avenue, Suite 838, New Orleans, Louisiana 70130
        -----------------------------------------------------------------
                    (Address of principal executive offices)

                                 (504) 552-4720
        -----------------------------------------------------------------
                           (Issuer's telephone number)

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

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
Yes   X   No
   ------   ------

          APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
                         DURING THE PRECEDING FIVE YEARS
         Check whether the  registrant  filed all documents and reports required
to be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court.  Yes     No
                                                                  -----  -----

                      APPLICABLE ONLY TO CORPORATE ISSUERS
         State the  number of shares  outstanding  of each of the  issuer's
classes  of common  equity,  as of the latest practicable date:
830,500 shares on May 1, 2004
-------------------------------

Transitional Small Business Disclosure Format (check one);  Yes        No   X
                                                                -----     -----


                                                                    Page 1 of 16
<PAGE>



                               AVOCA, INCORPORATED

                                    I N D E X





                                    Page No.

Part I.           Financial Information (Unaudited)
                  ---------------------
                  Condensed Balance Sheet - March 31, 2004             4

                  Condensed Statements of Income
                           Three Months Ended March 31, 2004
                           and 2003                                    5

                  Condensed Statements of Cash Flows
                           Three Months Ended March 31, 2004
                           and 2003                                    6

                  Notes to Condensed Financial Statements              7

                  Management's Discussion and Analysis or
                  Plan of Operation                                    8-11

                  Controls and Procedures                              11

Part II.          Other Information
                  -----------------
                  Legal Proceedings                                    12
                  Submission of Matters to a Vote of
                  Security Holders                                     12

                  Exhibits and Reports on Form 8-K                     12-13

                  Signature                                            14

                  Certifications                                       15-16


                                                                    Page 2 of 16
<PAGE>

                               AVOCA, INCORPORATED

                         PART I - FINANCIAL INFORMATION

                           Item 1 Financial Statements

                                                                    Page 3 of 16
<PAGE>
<TABLE>
<CAPTION>
                               Avoca, Incorporated

                       Condensed Balance Sheet (Unaudited)

                                 March 31, 2004



Assets
Current assets:
<S>                                                                                                    <C>
     Cash and cash equivalents                                                                         $ 1,224,974
     Short-term investments                                                                              1,056,430
     Accounts receivable                                                                                   406,909
     Accrued interest receivable                                                                            18,981
     Prepaid expenses                                                                                       29,709
                                                                                                       -----------
Total current assets                                                                                     2,737,003

Property and equipment, less accumulated depreciation and depletion                                         74,550

Other assets:
     Long-term investments                                                                               1,612,524
     Avoca Drainage Bonds, $415,000, in default -- at nominal amount                                             1
                                                                                                       -----------
                                                                                                       $ 4,424,078
                                                                                                       ===========


Liabilities and shareholders' equity
Current liabilities:
     Accounts payable and accrued expenses                                                                $ 15,637
     Income taxes payable                                                                                  345,892
                                                                                                       -----------
Total current liabilities                                                                                  361,529

Deferred income taxes                                                                                       14,508

Shareholders' equity:
     Common stock, no par value -- authorized, issued and outstanding
          830,500 shares                                                                                    94,483
     Retained earnings                                                                                   3,953,558
                                                                                                       -----------
Total shareholders' equity                                                                               4,048,041
                                                                                                       -----------
                                                                                                       $ 4,424,078
                                                                                                       ===========


See accompanying notes
</TABLE>
                                                                    Page 4 of 16
<PAGE>
                               Avoca, Incorporated

                   Condensed Statements of Income (Unaudited)

                                                     Three months ended
                                                           March 31
                                                    2004               2003
                                               -----------          ---------
Revenue:
   Royalties                                   $ 1,285,478          $ 963,348
   Less severance taxes                             47,787             20,939
                                               -----------          ---------
                                                 1,237,691            942,409

   Interest income                                  14,920             15,453
   Rental and miscellaneous income                       -                  2
                                               -----------          ---------
                                                 1,252,611            957,864

Expenses:
   Legal and accounting services                    24,809             36,364
   Consultant fees                                  39,050             30,250
   Geological and engineering fees                   4,566              7,120
   Insurance                                        12,985             11,534
   Miscellaneous expenses                           50,360             40,839
                                               -----------          ---------
                                                   131,770            126,107
                                               -----------          ---------

Income before income taxes                       1,120,841            831,757

Income taxes                                       350,333            256,101
                                               -----------          ---------

Net income                                       $ 770,508          $ 575,656
                                               ===========          =========

Earnings per share                                  $ 0.93             $ 0.69
    (basic and diluted)                            =======             ======


See accompanying notes

                                                                    Page 5 of 16
<PAGE>
<TABLE>
<CAPTION>
                               Avoca, Incorporated

                 Condensed Statements of Cash Flows (Unaudited)


                                                                                                Three months ended
                                                                                                      March 31
                                                                                              2004                 2003
                                                                                ------------------------------------------
Operating activities
<S>                                                                                      <C>                  <C>
Net income                                                                               $   770,508          $   575,656
Adjustments to reconcile net income to net cash
  provided by (used in) operating activities:

     Depreciation expense                                                                      2,029                2,285
     Deferred taxes                                                                             (433)                (433)
     Increase in investments due to amortization of premium                                   19,427
     Changes in operating assets and liabilities:
         Operating assets                                                                    (98,039)            (201,397)
         Operating liabilities                                                               351,459              256,903
                                                                                --------------------   -------------------
Net cash provided by operating activities                                                  1,044,951              633,014

Investing activities
     Purchase of investments                                                               (250,000)          (1,117,856)
     Maturity of investments                                                              1,907,758            1,705,084
                                                                                --------------------   -------------------
Net cash provided by investing activities                                                 1,657,758              587,228

Financing activities
Dividends paid                                                                           (2,366,925)          (1,453,375)
                                                                                --------------------   -------------------
Net cash used in financing activities                                                    (2,366,925)          (1,453,375)

Increase (decrease) in cash and cash equivalents                                            335,784             (233,133)

Cash and cash equivalents at beginning of period                                            889,190            1,182,312
                                                                                --------------------   -------------------

Cash and cash equivalents at end of period                                             $  1,224,974          $   949,179
                                                                                ====================   ===================


See accompanying notes
</TABLE>

                                                                    Page 6 of 16
<PAGE>
                               Avoca, Incorporated

               Notes to Condensed Financial Statements (Unaudited)

                        Three months ended March 31, 2004



1.  Basis of Accounting

         The accompanying unaudited condensed financial statements have been
prepared in accordance with generally accepted accounting principles for interim
financial information and with the instructions of Form 10-QSB and Item 310(b)
of Regulation S-B. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements. In the opinion of management, all normal and recurring
adjustments and accruals considered necessary for a fair presentation have been
included. Operating results for the three-month period ended March 31, 2004 are
not necessarily indicative of the results that may be expected for the year
ended December 31, 2004. For further information, refer to the financial
statements and footnotes thereto included in the Company's annual shareholders'
report incorporated by reference in the Form 10-KSB for the year ended December
31, 2003.

         The Company considers its United States Government securities held with
a maturity of three months or less when purchased to be cash equivalents.



                                                                    Page 7 of 16
<PAGE>
Item 2 -          Management's Discussion and
                  Analysis or Plan of Operation

         Avoca Incorporated is a passive company which owns and manages
approximately 16,000 acres comprising virtually all of Avoca Island southeast of
Morgan City, Louisiana under which hydrocarbons are located. The hydrocarbons
are developed in accordance with the custom in the oil and gas industry in
Louisiana, in which development is conducted by the mineral lessee including the
assumption of the risks and uncertainties usually associated with the production
and marketing of hydrocarbons.
         The unaudited condensed statements of income show that net income for
the first quarter of 2004 as compared with the first quarter of 2003 increased
from $575,656 to $770,508, or approximately 34%; the result of an increase in
royalty income.
         Revenues from royalties net of severance taxes increased from $942,409
to $1,237,691 or approximately 31%, primarily due to the full quarter of
production in 2004 from the Meridian Resource & Exploration L.L.C.'s C.M.
Thibodaux No. 1 well, which was off production the first quarter of 2003.
Revenue from natural gas, which contributed 82% of net royalty income for the
first quarter of 2004, benefited from a 6% increase in the average sales price
of natural gas. Revenue from plant product (natural gas liquids), which was
negligible for the first quarter of 2003, contributed 10% of net royalty income
for the first quarter of 2004.
         The Meridian Avoca No. 47-1 well was responsible for 48% of the
Company's royalty income net of severance taxes for the first quarter of 2004,
and has been the Company's largest royalty producer since it went on production
December 2000. Royalties from the well for the first quarter of 2004 as compared
to the first quarter of 2003 increased from $545,593 to

                                                                    Page 8 of 16
<PAGE>
$589,516. The Company's net revenue interest in the No. 47-1 well's unit
increased from 12.41% to 12.93% as a result of the Company signing a revenue
sharing agreement with the State of Louisiana in 2003. The increased net revenue
interest combined with the previously discussed increases in the average sales
price of gas and plant product revenue more than offset the well's decline in
production for the first quarter of 2004, down 7% from the comparable period in
2003.
         Royalties from the Meridian C. M. Thibodaux No. 1 & No. 3 wells (in
which the Company has a net revenue interest of approximately 2.71%) contributed
approximately 43% of the Company's net royalty income for the first quarter of
2004, increasing from $208,965 to $539,589. As previously discussed, the No. 1
well, which was off production from mid December 2002, returned to production in
July 2003 after being successfully recompleted in the higher Operc 3 sand.
Natural gas production from the C.M. Thibodaux No. 3 well increased a modest 3%
for the first quarter of 2004 as compared to the first quarter of 2003.
         Royalties from the Meridian State Lease No. 16049 well (in which the
Company has a net revenue interest of approximately 2.71%), decreased from
$173,408 to $100,572 due to a decline in production of approximately 53% as
compared to the first quarter of 2003. The well produces from a sand seen in the
C.M. Thibodaux No. 1 well and already unitized as the Operc 5 RA SUA Unit. All
four Meridian wells are located in the Ramos Field, across Bayou Chene just
north of the eastern end of Avoca Island.
         Royalty income from the Delta Operating Corporation (formerly Alliance
Operating Company) Avoca No. 1well, also located in the Ramos Field, was $7,900
for the first quarter of 2004 as compared to $10,745 for the first quarter of
2003. Production from the well, in which

                                                                    Page 9 of 16
<PAGE>
the Company has a net revenue interest of approximately 19.46%, declined 38% for
the first quarter of 2004 as compared to the first quarter of 2003.
         Interest income from investments declined $533 or approximately 3%
because of lower interest rates.
          As compared with the first quarter of 2003, total expenses increased
$5,663 or approximately 4%. Consultant fees increased $8,800 due to a fee paid
to an independent real estate consultant and increased bonuses paid to the
Company's general and surface managers. Miscellaneous expenses increased $9,521
primarily due to additional surface maintenance costs and fees paid to directors
in the first quarter of 2004 for additional committee meetings. Insurance
expense increased $1,451 due to changes in the Company's insurance coverage and
an increase in premium costs. Offsetting these increases was a $13,590 decrease
in attorney's fees (included in legal and accounting services) due primarily to
a decline in fees associated with the litigation described under Item 3 of this
report. The $ 2,554 decrease in geological and engineering services was a result
of a decreased need for these services.
         The change in income tax expense for the three months ended March 31,
2004 resulted from an increase in taxable income for the first quarter of 2004
as compared to the first quarter of 2003.
         The Company's continued liquidity is evidenced by the fact that
approximately 71% of its assets, as measured by book value, are cash, cash
equivalents and U.S. Government agency securities and represents the equivalent
of multiple years of anticipated operating expenses.
         In addition to interest income and the leasing of hunting rights, the
Company customarily derives essentially all of its other income from bonuses,
delay rentals and royalties under oil, gas

                                                                   Page 10 of 16
<PAGE>

and mineral leases of its Avoca Island acreage. The Company's business is
passive and all capital requirements for exploration, development and production
of the Company's mineral resources are funded by its lessees.

Item 3 - Controls and Procedures

         Robert C. Baird, Jr., the Company's principal executive and financial
officer, has evaluated the effectiveness of the Company's disclosure controls
and procedures (as defined in Rule 13a-14(c) under the Securities Exchange Act
of 1934) as of the end of the period covered by this report. Based on that
evaluation, he has concluded that the Company's disclosure controls and
procedures are adequate and effective. There have been no significant changes in
the Company's internal control over financial reporting that occurred during the
Company's first fiscal quarter of 2004 that have materially affected, or are
reasonably likely to materially affect, the Company's internal controls over
financial reporting.



                                                                   Page 11 of 16
<PAGE>
                           Part II - OTHER INFORMATION

Item 1 - Legal Proceedings

         There were no material developments during the period covered by this
Report in either of the previously-reported legal proceedings.

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

         The Company's Annual Meeting of Shareholders was held on March 16,
2004. Management's proposal to fix at five the number of directors to be elected
for the ensuing year was approved by the following vote:

                For    Against    Abstain     Broker Nonvotes
                ---    -------    -------     ---------------
              667,506   19,666      141             --

Messrs. Baird, Boudreaux, Laborde, Powell and Tucker were elected directors for
the ensuing year by the following vote:
                                                 Withhold
                                  For              Vote        Broker Nonvotes
                                  ---           -----------    ---------------

     Robert C. Baird, Jr.       650,517           36,796             --
     Bernard E. Boudreaux, Jr.  664,116           23,197             --
     John P. (Jack) Laborde     683,822            3,491             --
     M. Cleland Powell, III     650,542           36,771             --
     J. Scott Tucker            670,193           17,120             --

Item 6 - Exhibits and Reports on Form 8-K

(a) Exhibits required by Item 601 of Regulation S-B.
           3.1       Copy of Composite Charter1

           3.2       Copy of Charter, dated October 21, 19311

           3.3       Copy of amendment to Charter, dated
                     September 13, 1972 (1)

                                                                   Page 12 of 16
<PAGE>

           3.4       Copy of amendment to Charter, dated
                     May 30, 19751

           3.5       Copy of amendment to Charter, dated
                     September 15, 19812

           3.6       Copy of amendment to Charter, dated
                     March 17, 19872

           3.7       Copy of Composite Charter (as of
                     August 14, 1987)2

           4.0       Copy of specimen stock certificate1

           31        Certification by the Company's Principal Executive Officer
                     or Principal Financial Officer pursuant to Rule 13-14(a) or
                     Rule 15d-14(a), as adopted pursuant to Section 302 of the
                     Sarbanes-Oxley Act of 2002.

           32        Certification by the Company's Principal Executive Officer
                     or Principal Financial Officer pursuant to 18 U.S.C.
                     Section 1350, as adopted pursuant to Section 906 of the
                     Sarbanes-Oxley Act of 2002.
------------------------------------------
1     Incorporated by reference from registrant's Form 10 Registration
      Statement, filed with the Securities and Exchange Commission on April 29,
      1980, Commission file number 0-9219.

2     Incorporated  by reference  from  registrant's  Form 8 Report dated August
      14, 1987,  Commission  file number 0-9219.


         (b)      Reports on Form 8-K.

                  None.


                                                                   Page 13 of 16
<PAGE>



                                   SIGNATURES
                                   ----------
         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.

                                                AVOCA, INCORPORATED
                                        ----------------------------------------
                                                     Registrant

     May 12       , 2004               /s/ Robert C. Baird, Jr.
------------------                     -----------------------------------------
                                       Robert C. Baird, Jr.
                                       President and Principal Financial Officer



                                                                   Page 14 of 16

<PAGE>



                                   EXHIBIT 31

                                  CERTIFICATION
                  Pursuant to Rule 13a-14(a) or Rule 15d-14(a)


      I, Robert C. Baird, Jr., certify that:

      1. I have reviewed this quarterly report on Form 10-QSB of Avoca,
Incorporated (the "Company");

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

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

      4. I am responsible for establishing and maintaining disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for
the Company and have:

      a) Designed such disclosure controls and procedures, or caused such
controls and procedures to be designed under my supervision, to ensure that
material information relating to the Company is made known to me by others
within the Company, particularly during the period in which this report is being
prepared;

      b) Evaluated the effectiveness of the Company's disclosure controls and
procedures and presented in this report my conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and

      c) Disclosed in this report any change in the Company's internal control
over financial reporting that occurred during the Company's first fiscal quarter
that has materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.

      5. I have disclosed, based on my most recent evaluation, to the Company's
auditors and the audit committee of the Company's board of directors (or persons
performing the equivalent functions):

      a) All significant deficiencies in the design or operation of internal
control over financial reporting which are reasonably likely to adversely affect
the Company's ability to record, process, summarize and report financial
information; and

      b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the Company's internal control over
financial reporting.

Date  May 12, 2004
      ----------------------

                                                /s/ Robert C. Baird, Jr.
                                                --------------------------------
                                                Robert C. Baird, Jr.
                                                Principal Executive Officer and
                                                Principal Financial Officer

                                                                   Page 15 of 16
<PAGE>
                                   EXHIBIT 32

                                  CERTIFICATION
                       Pursuant to 18 U.S.C. Section 1350


         Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002, the undersigned officer of Avoca,
Incorporated (the "Company") certifies that the quarterly report on Form 10-QSB
of the Company for the quarter ended March 31, 2004, fully complies with the
requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934
and the information contained in that Form 10-QSB fairly presents, in all
material respects, the financial condition and results of operation of the
Company.

Date  May 12, 2004
      ---------------------


                                                /s/ Robert C. Baird, Jr.
                                                --------------------------------
                                                Robert C. Baird, Jr.
                                                Principal Executive Officer and
                                                Principal Financial Officer


                                                                  Page 16 of 16