UNITED STATES

                              SECURITIES AND EXCHANGE COMMISSION

                                   Washington, D.C. 20549

                                        FORM 10-QSB

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934


For the quarterly period ended          September 30, 1998


Commission file Number          0-20193


                       AMERICOMM RESOURCES CORPORATION
           (Exact name of registrant as specified in its charter)

           Delaware                               73-1238709
(State or other jurisdiction of               (I.R.S. Employer
incorporation or organization)                Identification No.)

15 E. 5th Street, Suite 4000, Tulsa, Oklahoma     74103-4346
(Address of principal executive offices)          (Zip Code)

Registrant's telephone number, including area code:  (918) 587-8093

     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 [ ]
    Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practical date:

     Common Stock, $.001 Par Value - 13,879,589 shares as of  September 30,
1998.

<TABLE>

                               PART I. - FINANCIAL INFORMATION

                               AMERICOMM RESOURCES CORPORATION

                                       BALANCE SHEET


(Amounts in thousands, except per share data)
<CAPTION>
                                               September 30, 1998
                                               __________________
<S>                                                <C>
ASSETS
Current assets
   Cash and cash equivalents                       $      208,191
   Prepaid expenses                                             0
   Deposits                                                 3,244
   Furniture & Fixtures                                    14,555
   Accum. Depreciation                                     (2,183)
                                                   ______________
                 Total current assets                     223,807
Investments in prospects                                1,143,336
                                                   ______________
 TOTAL ASSETS                                      $    1,367,143
</TABLE>
<TABLE>

<CAPTION>
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
<S>                                               <C>
Current liabilities
   Accounts payable                                             0
   Accruals                                                   556
                                                   ______________
Total Current Liabilities                           $         556

Stockholders' equity (deficiency)
   Common stock, $.001 par value;
     authorized 50,000,000 shares
     13,879,589 shares issued, of which              
     132 shares are held in Treasury                       13,879
   Capital in excess of par value                       1,968,862
   Deficit accumulated during the
     development stage                                   (616,154)
                                                   ______________
Total Stockholders' Equity                          $   1,366,587

TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY (DEFICIENCY)                                 $   1,367,143
<FN>
See accountants' report and accompanying notes to financial
statements </TABLE>

<TABLE>
                       AMERICOMM RESOURCES CORPORATION

                             STATEMENT OF INCOME

                             FOR THE NINE MONTHS

                        ENDED SEPTEMBER 30, 1998 AND 1997

(Amounts in thousands, except per share data)
<CAPTION>
                                   Nine Months           Nine Months
                                         Ended                 Ended
                                  September 30,         September 30,
                                          1998                  1997
                                  ____________          ____________
<S>                               <C>                   <C>
Revenues
   Income                         $          0          $          0
   Interest income                       5,483                   407
                                  ____________          ____________
Total Income                             5,483                   407
                                  ____________          ____________

Costs and expenses
   General and administrative
     expenses                          102,384                45,308
   Abandoned prospects                       0                     0
   Interest expense                        985                     0
                                  ____________          ____________
Total Costs and Expenses               103,369                45,308
                                  ____________          ____________

Net Income (Loss)                 $    (97,886)         $    (44,901)

Net Income (Loss)
   per common share               $          0          $          0

Weighted average number of
   common shares outstanding        13,879,589            11,204,592
<FN>
See accountants' report and accompanying notes to financial statements
</TABLE>

<TABLE>
                       AMERICOMM RESOURCES CORPORATION

                           STATEMENT OF CASH FLOWS

                             FOR THE NINE MONTHS

                        ENDED SEPTEMBER 30, 1998 AND 1997 

(Amounts in thousands)
<CAPTION>
                                       Nine Months         Nine Months
                                             Ended               Ended
                                      September 30,       September 30, 
                                              1998                1997
                                      ____________         ___________

<S>                                   <C>                   <C>
Cash Flow From Operating Activities
  Operations
  Net income (loss)                   $    (97,886)         $  (44,901)
   Plus adjustments to reconcile
   net income to net cash flows
   from operating activities
  Depreciation expense                       2,183                   0
  Abandoned prospects                            0                   0
  Changes in operating assets
   and liabilities
   Increase(Decrease) in accounts
     payable                               (11,492)            (11,574)
   Increase(Decrease) in prepaid
     expenses                                 (350)                350
  Increase(Decrease) in deposits            (3,244)                  0
  Accruals                                     556                 (67)
   Deferred payment proceeds                     0              50,000
                                       ___________        ____________
  Net cash provided (used)
   by operating activities                (110,233)              6,192

Cash Flows From Investing Activities
  Cash payments for investments in
   prospects                              (451,188)            (23,952)
  Cash payments for furniture
    and fixtures                           (14,555)                  0
                                       ___________        ____________
  Net cash provided (used) by
    investing activities                  (465,743)            (23,952)
                                       ___________        ____________

Cash Flows From Financing Activities
  Proceeds from issuance of common
   stock                                  680,999                   0
  Proceeds from note payable - related
   party                                        0              20,000
  Repayment of note payable - related
   party                                        0                   0
                                     ____________        ____________
  Net cash provided (used) by
     financing activities                 680,999              20,000

Net Increase(Decrease) in Cash and
Cash Equivalents                          105,023             (10,144)

Cash and Cash Equivalents,
  beginning of quarter                    103,168              29,311
                                      ____________        ____________

Cash and Cash Equivalents,
  end of quarter                      $   208,191          $   19,167
<FN>
See accountants' report and accompanying notes to financial statements
</TABLE>

                       AMERICOMM RESOURCES CORPORATION

                        NOTES TO FINANCIAL STATEMENTS

                               SEPTEMBER 30, 1998

Note 1.  Basis of Presentation

     In the opinion of management the accompanying unaudited
financial statements contain all adjustments, all of which were of a normal
recurring nature, necessary to summarize fairly the Registrant's
financial position and results of operations.  The results of operations
for the three and six months ended September 30, 1998 may not be 
indicative of the results that may be expected for the year ending December 
31, 1998.  These statements should be read in conjunction with the financial
statements and notes thereto included in the Registrant's Form 10-KSB for
its fiscal year ended December 31, 1997.

Note 2.  Summary of Significant Accounting Policies

     Mining and oil and gas properties - The Company uses the successful
efforts method of accounting for its mining activities.  Costs incurred
are deferred until exploration and completion results are evaluated.
At such time, costs of activities with economically recoverable reserves
are capitalized as proven properties, and costs of unsuccessful or
uneconomical development work are expensed.

     Cash and cash equivalents - The Company defines cash and cash
equivalents to be cash on hand, cash in checking accounts, certificates
of deposit, cash in money market accounts and certain investments with
maturities of three months or less from the date of purchase.

Note 3.  Income Taxes

     As of December 31, 1997, the Company has tax net operating loss
carryforwards totaling approximately $456,000.  If not used, these
carryforwards will expire in the years 2000 to 2009.


                       AMERICOMM RESOURCES CORPORATION
                              PLAN OF OPERATION

     All statements other than statements of historical fact contained
herein are forward-looking statements.  The forward-looking statements
were prepared on the basis of certain assumptions which relate, among
other things, to costs expected to be incurred in the acquisition, 
exploration and development of the Company's properties.  Even if the
assumptions on which the projections are based prove accurate and 
appropriate, the actual results of the Company's operations in the future
may vary widely from the financial projections due to unforeseen,
mechanical or technological difficulties in drilling wells, general
economic conditions, increased competition, changes in government
regulation or intervention in the oil and gas or mining industries, and
other risks described in the Company's filings with the Securities
and Exchange Commission. Accordingly, the actual results of the Company's
operations in the future may vary widely from the forward-looking
statements included herein.
     
     As of September 30, 1998, the Registrant had approximately $208,191 in 
cash to fund its operations.  The Registrant expects the remainder of its 
cash to fund its operations for approximately 6 months, assuming no 
additional amounts are expended on the acquisition or exploration of its oil 
and gas prospect or the exploration of its mining properties.  The Registrant 
expects the exploration and development of its oil and gas prospect will 
require substantial amounts of additional capital which may be raised through 
debt or equity offerings, encumbering properties or entering into 
arrangements whereby certain costs of exploration will be paid by others 
to earn an interest in the properties.  Additional capital will also be 
required to pay carrying costs on the Registrant's mining prospects and on its 
oil and gas prospect in Wyoming.  There can be no assurance that additional 
capital will be available to the Registrant on economically acceptable terms, 
if at all.  

     The Registrant funded its operations during 1997 through amounts
received from Echo Bay Exploration Inc. ("Echo Bay") a subsidiary of Echo
Bay Mines LTD., Denver, Colorado pursuant to a Heads of Agreement covering
exploration of its Churchill County, Nevada property (the "Jessup
Property") and by borrowing $20,000 from the Albert E. Whitehead Living
Trust pursuant to the terms of a 6% Convertible Note due September 23,
1998.  In November 1997, Echo Bay elected to continue its work program
during 1998 and paid an additional $100,000 to the Registrant.  In March
1998, the Registrant raised an additional $275,000 through the issuance of
1,375,000 to Mr. Whitehead and agreed to use substantially all of the
proceeds of this issuance to fund its acquisition of oil and gas leases on
a prospect located in the state of Wyoming.  In April 1, 1998, the Albert
E. Whitehead Living Trust converted its note into shares of Common Stock of
the Registrant at a purchase price of $0.15 per share. In June 1998 Messrs.
Whitehead and Plewes, directors of the Registrant purchased an aggregate
of 533,332 shares of Common Stock upon exercise of previously issued stock
options at an exercise price of $0.6875 per share, which provided $362,499
in additional working capital to the Registrant.

     Although Echo Bay stated that it was encouraged by the results of its
exploration of the Jessup Property, in May 1998, Echo Bay elected to 
discontinue its exploration program and concentrate its exploration efforts
in the United States on a limited number of projects.  As Echo Bay terminated
the joint venture agreement prior to earning its interest in the property, 
under the terms of the joint venture agreement, the Registrant retains
its interest in the Jessup Property and the amounts previously paid by 
Echo Bay.  The Registrant intends to seek a new industry partner to
continue the exploration of the Jessup Property or may elect to sell such
property if a transaction may be consummated on advantageous terms.

     Exploration for mineral resources, such as gold, and for oil and gas,
is highly speculative and involves greater risks than many other businesses.
Mineral exploration and oil and gas drilling and development is frequently
marked by unprofitable efforts, not only from unproductive prospects,
but also from producing prospects which do not produce sufficient amounts
to return a profit on the amount expended.  Accordingly, there can be no
assurance that the Registrant will be able to discover, develop or produce
sufficient reserves to recover the expenses incurred in connection with the
exploration of its properties, to fund additional exploration or to achieve
profitability.

     The Registrant does not expect any significant change in
the number of its employees during 1998.  It will employ part-
time or temporary persons and consultants in situations where
special expertise is required.


Part II  OTHER INFORMATION

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

          The Annual Meeting of the Shareholders of the Registrant was
          held on September 24, 1998, pursuant to notice, at which the
          following persons were elected directors of the Registrant to
          serve until the next annual meeting of the shareholders or until
          their successors are elected and qualify:


                                                                  Brokers
                               For            Against   Abstain   Non-Votes
          Thomas R. Bradley    10,369,941     6,313       --         --
          John C. Kinard       10,372,921     3,333       --         --
          George H. Plewes     10,372,921     3,333       --         --
          Albert E. Whitehead  10,372,921     3,333       --         --

         In addition, the following proposals were approved by the 
         shareholders:

         The proposal to amend the 1995 Stock Options Plan to increase the 
         number of shares issuable upon exercise of options granted and to 
         be granted thereunder by 600,000 shares and to increase the limit 
         on the number of shares which may be subject to options granted 
         to an employee in any calendar year to 200,000 shares was passed 
         with 10,336,343 votes in favor, 35,065 votes against and 4,846 
         abstentions.
 
Item #5  Other Information

         The Registrant has acquired over 99,600 acres of oil and gas leases
         in the Powder River Basin in Wyoming and is continuing to acquire
         additional leases in that area.  The Company's oil and gas prospect
         is located in a mature producing area with established pipelines
         and services, which has been inactive over the last 30 years
         pending the development of new drilling technology.  The Registrant
         currently plans to utilize horizontal drilling techniques to drill
         the first test well on the prospect in the fourth quarter of 1998,
         subject to the availability of additional financing.  Under the terms
         of the agreement relating to the prospect, the Registrant is
         required to drill the first test well within six months after it has
         acquired 100,000 acres of oil and gas leases with respect to the
         prospect or seek a buyer for the prospect.  In such event, assuming 
         the parties are successful in locating a buyer for the prospect, 
         the Registrant would recover its costs in acquiring the prospect 
         and would receive 50% of any profits from the sale of the prospect 
         in excess of such costs.

Item #6  Exhibits and Reports on Form 8-K

         a.  Exhibits --None

         b.  Reports on Form 8-K - The Registrant has not filed, during

             the quarter for which this report is filed, a Form 8-K.

         c.  27-Financial Data Schedule


                          AMERICOMM RESOURCES CORPORATION

                                     SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.




                                      AMERICOMM RESOURCES CORPORATION
                                      Registrant
                                      
November 11,1998                      Thomas R. Bradley
Date                                  Thomas R. Bradley
                                      President & CEO

November 11,1998                      Thomas R. Bradley
Date                                  Thomas R. Bradley
                                      Principal Financial and Accounting
                                        Officer