Form 10-KSB
[Adopted in Release No. 34-30968(72,439), effective August  13,
1992, 57 F.R.36442]
            U.S. Securities and Exchange Commission
                     Washington, D.C. 20549
(Mark One)
      [X ]  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934 [Fee Required]

           For the fiscal year ended April 30, 1996

    [ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934 [No Fee Required]

               Commission file number  0 - 8155

                 AMERICAN ENERGY & TECHNOLOGY, INC.
        (Name  of  small  business  issuer  in  its charter)

          DELAWARE                                73-9077756
     (State or other jurisdiction            (IRS   Employer
      of incorporation or organization)     Identification No.)

  #1500 Midland Walwyn Tower, Edmonton, Alberta,        T5J 2Z2
     (Address of principal executive offices)          (Zip Code)

Issuer's telephone number      (403) 496-9171

Securities registered under Section 12(b) of the Exchange Act:

      Title of each class       Name of each exchange on which registered
              NONE                               NONE

Securities registered under Section 12(g) of the Exchange Act:

                   $0.01 Par Value Common Stock
                        (Title of class)

      Check whether the issuer (1) filed all reports required  to
be  filed  by Section 13 or 15(d) of the Securities 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

      Check  if  there is no disclosure of delinquent  filers  in
response to Item 405 of Regulation S-B is not contained  in  this
form,  and  no  disclosure  will be contained,  to  the  best  of
registrant's  knowledge,  in  definitive  proxy  or   information
statements incorporated by reference in Part III of this Form 10-
KSB or any amendment to this Form 10-KSB.[ ]

State  issuer's  revenues for its most recent  fiscal  year NIL

As of April 30, 1996 8,041,475 $0.01 par value common stock
were issued and outstanding.

               DOCUMENTS INCORPORATED BY REFERENCE
                              None

                             Part I


Item 1. Description of Business

(a) Business Development

American   Energy   &   Technology,   Inc.   ("Registrant")   was
incorporated under the laws of the State of Delaware on April 25,
1975.  The  Registrant's principal offices are located  at  #1500
Midland  Walwyn Tower, Edmonton, Alberta, Canada,  T5J  2Z2,  and
it's  registered  office is 1209 Orange Street,  Wilmington,  New
Castle, Delaware, 19801. The telephone number is (403) 496-9171.

The  Registrant  has  been inactive and  has  not  conducted  any
business  during the fiscal years ending April 30,  1987  through
April  30,  1996.  The current directors have taken the necessary
steps  to  bring  the Registrant current with all the  regulatory
filings.

On  March  18,  1994, the Registrant received  a  Certificate  of
Renewal from the State of Delaware.

The   Registrant  has  not  been  involved  in  any   bankruptcy,
receivership or similar proceedings.

(b) Business of Issuer

The  Registrant intends to seek opportunities in the acquisition,
exploration  and  development of large tonnage  gold  and  copper
deposits  located in the U.S., Canada, South America, Mexico  and
the South West Pacific.

The Registrant owns no patents, trademarks, licenses, franchises,
or concessions.

The  Registrant  has  no  portion of its business  which  may  be
subject  to re-negotiation of profits or termination of contracts
or subcontracts at the election of the Government.

The Registrant has not conducted any research and development and
no future research is proposed at this time.

The  Registrant  has  not made any material capital  expenditures
which require environmental control facilities.

The Registrant currently has no full-time employees.

Item 2. Description of Property

The  Registrant currently has no operations in mining exploration
or  interests in any properties directly or through ownership  of
partnership interests at April 30, 1996.

 Item 3. Legal Proceedings

The  Registrant knows of no pending or threatened material  legal
proceedings  to which the Registrant is a party of, and  no  such
proceedings  are  known to the Registrant to be  contemplated  by
governmental authorities.



                            Part II

Item 4. Market for Common Equity and Related Stockholder Matters

The  Registrant's common stock currently is not  trading  on  any
public market.
                                        Number of
     Title of class                     Record Holders

     $0.01 Par Value                         1,913
      Common Stock

No  dividends have ever been declared or paid with respect to the
Registrant's  common stock.  The Registrant has no present  plans
to pay dividends in the foreseeable future.

Item 5. Management Discussion and Analysis or Plan of Operation

The  results of the statement of loss indicates a loss of $16,538
which  represents  transfer  agent,  legal  and  consulting  fees
necessary  to maintain the Registrant current with its regulatory
filing requirements.

Currently  the directors are working to establish the  Registrant
as  an  exploration and development company seeking high tonnage,
low  to  medium grade, gold and copper orebodies which  would  be
amenable to bulk mining techniques.

Upon  establishing qualified trading status the  Registrant  will
apply to be listed on a recognized North American stock exchange.

Item  6.  Changes  In  and  Disagreements  With  Accountants   on
Accounting and Financial Disclosure

The Registrant has engaged BDO Dunwoody, Chartered Accountants of
Edmonton, Alberta, Canada to provide audited financial statements
for the Registrant as of April 30, 1996.

Item 7. Financial Statements

See   the   following  Financial  Statements  and   Supplementary
Information prepared by BDO Dunwoody, Chartered Accountants.

                            Part III

Item  8.  Directors,  Executive Officers, Promoters  and  Control
Persons

The  following table sets forth, as of April 30, 1996, the  names
and   ages  of  all  Directors  and  Executive  officers  of  the
Registrant,  indicating  all  positions  and  offices  with   the
Registrant held by each person, and any periods during  which  he
served:

                            Offices  Held    As Director      As Officer
Name             Age        In  Registrant   Of  Registrant   Of egistrant

Donald  P.  Caron  33      Pres. & Dir.    April  30,  1988   April30,1988
                                           - Present          - Present

Richard D. Caron   41      V.P. &Dir.      April 30,  1988    April30,1988
                                           - Present         - Present

The  Registrant's  Directors hold office until  the  next  annual
meeting   of   shareholders.   There   is   no   arrangement   or
understanding  between  any Director of the  Registrant  and  any
other person or persons pursuant to which such Director was or is
to be selected as a Director or a nominee for Director.

The  Registrant's Executive Officers hold office at the  pleasure
of the Board of Directors or until the next annual meeting of the
Board  of  Directors.  There is no arrangement  or  understanding
between  any such Executive Officer and any other person pursuant
to which such Executive Officer was selected as an Officer of the
Registrant.

The  Registrant does not employ any person, other than the above-
named  Executive  Officers, who make  or  are  expected  to  make
significant contributions to the business of the Registrant.

Donald  P. Caron, Director and Executive Officer, and Richard  D.
Caron,  Director  and Executive Officer, are  family  related  as
brothers.

Following  is  a brief account of the business experience  during
the past five years of each Director and Executive Officer of the
Registrant who held office as such on April 30, 1996.

Don  P.  Caron,  33,  is the President, Chief Executive  Officer,
Secretary  and  Director  of the Corporation.  He  is  also  Vice
President  and  director  of Western  Pacific  Gold  Inc.,  Norac
Industries Inc.,  and Magma Pacific Gold Inc., all junior mineral
exploration companies listed on The Alberta Stock Exchange.   Mr.
Caron   has  been  involved  with  the  finance  management   and
administration of listed public companies for over  seven  years.
He  specializes  in finance, accounting, securities  regulations,
Stock Exchange policies and investor/shareholder liaison.

Mr.  Caron  is Vice President of Western America Venture  Group.,
companies administering venture funds and providing financing and
administrative services for public and private companies.  He was
instrumental  in  the  reorganization of First  Canada  Financial
Corp. which is now Western Pacific Gold Inc. and has advised  and
participated  as  a principal in numerous mergers,  acquisitions,
and divestitures in Australia, Germany, India, USA and Canada.

Richard D. Caron, 41, is the Vice President and Director  of  the
Corporation. Mr. R. Caron is President of Western America Venture
Group,  companies  administering investment funds;  President  of
Mount-Western  Investments  Inc., a venture  fund;  President  of
Norac  Industries  Inc.,  a  public company  in  the  mining  and
exploration business.

No  event  has  occurred  during the past  five  years  which  is
material  to  an  evaluation of the ability or integrity  of  any
Director.

Item 9. Executive Compensation

Directors  and officers have received no remuneration  for  their
services other than as described in item 11 of this report.

Item  10.  Security  Ownership of Certain Beneficial  Owners  and
Management

The  following  table  sets forth the number  and  percentage  of
shares  of  Registrant's $0.01 par value common stock  (its  only
class  of  voting securities) owned beneficially by  any  person,
who,  as of April 30, 1995, is known to the Registrant to be  the
beneficial owner of 5% or more of such common stock.  Information
regarding beneficial ownership was obtained from the Registrant's
stock transfer agent.

                                        Number of      Percent
                                        Common Shares  of
                  Name and Address      Beneficially   Common
Title of Class    of Beneficial Owner   Owned          Shares

Common Stock $0.01 ParMount-Western Investments Inc.(1)2,650,000
32.9 %
       "          Paul B. Knight (2)   786,691          9.7 %
       "          John P. Knight (3)   502,134          6.2 %
       "          Alameda National Bank (4)470,000      5.8 %
       "          Energy Production &
                  Investment Corp. (5) 435,000          5.4 %
       "          Floyd M. Stack (6)   502,000          6.2 %
       "          Roy E. Warren (7)    506,002          6.3 %
       "          John A. Boettiger (8)503,334          6.2 %

(1)  The  shares are owned by Mount-Western Investments Inc.,  an
     Alberta private Corporation, of which Richard D. Caron is  a
     Director  and  controls  40% of the issued  and  outstanding
     shares  thereof.   The  address of the beneficial  owner  is
     #1500  Midland Walwyn Tower, Edmonton Centre, Edmonton,  AB,
     T5J 2Z2.

(2)  Paul  B. Knight directly holds 700,020 Common Shares and  is
     custodian  for 13,334 Common Shares for Kristina  K.  Knight
     and  13,334  Common Shares for John P. Knight.  Also  60,003
     Common  Shares are owned by Transwestern Mortgages, Inc.  of
     which  Paul  B.  Knight  is  the President  and  controlling
     shareholder.   The address of the beneficial owner  is  P.O.
     Box 3476 Englewood, CO, 80155.

(3)John P. Knight registered address is the same as (2) above.

(4)  The  shares  are to the attention of Norman Burkepile.   The
     address is 5500 W. Alameda Lakewood, CO, 80226.

(5)The   address  of  the  beneficial  owner  is  P.O.  Box  3476
   Englewood, CO, 80111.

(6)The  address  of  the  beneficial  owner  is  P.O.  Box  15612
   Lakewood, CO, 80215

(7)The  address of the beneficial owner is 4505 S. Broadway,  CO,
   80110

(8)   The address of the beneficial owner is 405 Urban Suite, 310
Lakewood CO, 80228

There  are  no  arrangements, known to the Registrant,  including
pledge  by  any  person  of securities  of  the  Registrant,  the
operation of which may at a subsequent date result in a change of
control of the Registrant.

Item 11. Certain Relationships and Related Transactions

No  Director  or  Officer  of  the Registrant,  any  nominee  for
election  as  Director, any security holder who is known  by  the
Registrant to own of record or beneficially more than 5%  of  any
class  of the Registrant's voting securities, or any relative  or
spouse of any of the foregoing persons, who has the same home  as
such  person  or who is a Director or Officer of  any  parent  or
subsidiary  of  the  Registrant, had any transactions  since  the
beginning  of  the  Registrant's last  fiscal  year  or  has  any
presently proposed transactions, to which the Registrant  was  or
is  to be a party, in which any of such persons had or is to have
any direct interest, except as follows:

As  of the date of this report, Richard D. Caron, a Director  and
Officer of the Registrant is also a Director and Officer of Mount-
Western  Investments Inc. of which he controls 40% of the  issued
and outstanding shares thereof.

A   company  affiliated  with  Richard  D.  Caron,  advanced  the
Registrant    $13,916.   This  amount  was   used   for   current
expenditures to allow the company to maintain current filings.

The  Registrant  entered into service agreements with  affiliated
companies  of Donald P. Caron. The agreements relate to  services
provided  to  bring the Company current with all its filings  and
into  qualified trading status.  The accounts payable related  to
these agreements amount to $30,000.

No Director or Officer of the Registrant, nominee for election as
Director,  or  any  associate of any such  Director,  Officer  or
nominee  was  indebted to the Registrant at any  time  since  the
beginning of the Registrant's last fiscal year.

Item 12. Exhibits

FINANCIAL STATEMENTS

     Title Page                          -
     Financial Statements               Pg. 1-7
     Reports on Form 8-K                NONE
     Exhibits                           NONE




                           SIGNATURES

In  accordance with Section 13 or 15(d) of the Exchange Act,  the
registrant caused this report to be signed on its behalf  by  the
undersigned, thereunto duly authorized.

(Registrant)  AMERICAN ENERGY & TECHNOLOGY, INC.


By (Signature and Title) Donald P. Caron
                         Donald P. Caron, President

Date    JULY 15, 1996

In  accordance with the Exchange Act, this report has been signed
below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.

(Registrant)  AMERICAN ENERGY & TECHNOLOGY, INC.


By (Signature and Title)* Richard D. Caron
                          Richard D. Caron, Vice President

Date     JULY 15, 1996

*  Print  the  name and title of each signing officer  under  his
signature.





American Energy & Technology Inc.
Financial Statements
For the year ended April 30, 1996



Contents

FINANCIAL STATEMENTS
Balance Sheet
Statement of Operations and Deficit
Statement of Changes in Financial Position
Summary of Significant Accounting Policies
Notes to the Financial Statements


AUDITORS' REPORT



To the Shareholders of
American Energy & Technology Inc.

We have reviewed the balance sheet of American Energy &
Technology Inc. as at April 30, 1996 and the statements of loss
and deficit and changes in financial position for the year then
ended. These financial statements are the responsibility of the
Company's management.   Our responsibility is to express an
opinion on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform an audit to obtain reasonable assurance whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation.

In our opinion, these financial statements present fairly, in all
material respects, the financial position of the company as at
April 30, 1996 and the results of its operations and the changes
in its financial position for the year then ended in accordance
with generally accepted accounting principles.




BDO Dunwoody
CHARTERED ACCOUNTANTS
July 2,1996




Balance Sheet
As at April 30       


Assets
Current                                    1996          1995

Cash                                       $3,669        $ - 
                                          ========      ========

Liabilities and Shareholders' Equity (Deficiency)
Accounts payable                           $2,662       $
Payable to  Affiliated Companies (Note 3)  43,917        26,371
                                          -------        ------
                                           46,579        26,371
Shareholder's Equity
Share Capital (Note 4)                     89,165        89,165
Deficit                                  (132,075)     (115,536)
                                         --------      ---------
                                          (42,910)      (26,371)
                                         --------      --------
                                           $3,669       $  -   
                                         ========      ========

On behalf of the board:

Don Caron____________ Director

Richard Caron________ Director





Statement of Operations and Deficit
For the year ended April 30

                                          1996    1995 
                                         ------  ------
Administrative Expenses
Audit fees                                1,200
Bank charges                                 84
Consulting fees                          10,000  20,000
Franchise taxes                             107     215
Legal fees                                2,511
Office supplies                              45
Registration fees                           250
Subscriptions                               225
Transfer agent fees                       2,116   2,154
                                         ---------------                       
                                         16,538   2,369 
Write down on technology rights                 126,558
                                         ---------------
Net loss for the year                  (16,538)(128,927)
(Deficit) Retained Earnings,
 beginning of period                  (115,537)  13,391
                                        ---------------  
 Deficit, end of period              $(132,075)$(115,536) 
                                      ==================
Loss per Share*                      $(0.002)    $(0.016)       
                                      ==================
* Based on 8,041,475common shares




Statement of Changes in Financial Position
For the year ended April 30                1996    1995
                                        -------  --------

Cash provided by (used in)
Operating Activities

Net loss                                $(16,538) $(128,927)
Write down of technologies                          126,558
                                        ---------  ---------
                                         (16,538)    (2,369)
Changes in  working capital accounts
 Accounts payable                          2,662
 Payable to affiliated companies          17,544       2,369 
                                        --------  ----------

Increase In Cash for the year and cash
 end of year                              $3,668     $  -
                                        ========  ==========



Summary of Significant Accounting Policies


Nature of Business

The Company is incorporated under the laws of the State of
Delaware, U.S.A. on April 25, 1975 and renewed on March 18, 1994.
As the U.S. dollar is the principal currency in which the company's
business is conducted, these financial statements have been
presented in U.S. dollars.

Net Income (Loss)
 per common share

The net income loss per common share is based on the number of
$0.01 par value common shares outstanding.


Notes to Financial Statements

1. Related Party Transactions

The Company has entered into the following transactions with
related parties:

A Company affiliated with a director of the Corporation advanced
the Corporation $13,916.  This amount was advanced  for current
expenditures.

The Company entered into service agreements with affiliated
companies controlled by a director of the corporation. Current
payables include $30,000 related to these agreements.

2.      Share Capital

Authorized
 Seventy-five million (75,000,000) $.01 par value common stock.
                                                    1996   1995
Issued                                            ------- ------
8,041,475 common stock $.01 par value             $89,165 $89,165
                                                  ======= ======

3. Comparitive Figures

The  1995  figures  have been restated to reflect  a  retroactive
write  down  of technological rights as management has determined
that these rights have no discernable value to the company.