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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For Quarter Ended: September 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: 0-8447

DOL RESOURCES, INC.
(Exact Name of Registrant as specified in its Charter)

Wyoming 82-0219465
(State of other Jurisdiction (I.R.S. Employer
of Incorporation or Organization) Identification No.)


13636 Neutron Road, Dallas, Texas 75244
(Address of Principal Executive Offices) (Zip Code)


Registrant's Telephone Number (Area code (214) 661 5869)


Indicate by check mark whether 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 such shorter period that Registrant was required to
file such reports and (2) has been subject to such filing requirements for the
past 90 days YES: NO: X

The number of shares outstanding of each of the Issuer's Classes of Common
Stock, as of the close of the period covered by this report:

Common - $0.01 Par Value - 25,000,000 shares as of September 30, 2000.





DOL RESOURCES, INC.

Index to Form 10-Q for Fiscal Quarter ended September 30, 2000.



Page No.
PART 1 - Financial Information

Condensed Unaudited Balance Sheet, September 30, 2000
and December 31, 1999 2 - 3

Condensed Unaudited Statement of Income,
Nine Months ended September 30, 2000 and 1999 4

Condensed Unaudited Statement of Shareholder's
Equity Nine Months ended September 30, 2000 and 1999 5

Condensed Unaudited Statement of Changes in
Financial Position Nine-Months Ended
September 30, 2000 and 1999 5

Summary of Significant Accounting Policies and
Notes to Condensed Unaudited Financial Statements 6 - 8

Management's Discussion and Analysis of Condensed
Financial Condition and Results of Operations 9

PART 11 - Other Information

Item 6(b) - Exhibits and Reports on Form 8-K 10

Signature Pursuant to General Instruction E 10

All other items called for by the instructions are omitted as they are
inapplicable, not required, or the information is included in the condensed
financial statements or notes thereto.





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DOL RESOURCES, Inc.
BALANCE SHEET

(Unaudited)

ASSETS
Sept. 30 Dec. 31
2000 1999
---------- ----------

CURRENT ASSETS
Cash $ -0- $ -0-
Marketable securities, at
lower or aggregate cost
or market 400,000 400,000

Due from related parties-Note 3 126,829 11,482
Prepaid Expenses -0- -0-
---------- ----------

Total Current Assets 526,829 411,482
---------- ----------

PROPERTIES - Using full costing-
Note 1
Production payment -0- 100,000
Exploration, acquisition &
development, cost, net of
allowance for reduction of
oil & gas assets of $137,083
in 1985 2,098,262 2,057,928
---------- ----------
Total cost 2,098,262 2,157,928

Less accumulated depletion 1,434,617 1,395,617
---------- ----------
663,645 762,311

TOTAL ASSETS 1,190,474 1,173,793
---------- ----------


Total Liabilities -0- -0-

STOCKHOLDERS' EQUITY
Capital Stock, common,
$.01 par value;
Authorized 25,000,000 shares;
Issued and outstanding;
25,000,000 shares at 9-30-00
and 12-31-99 250,000 250,000
Capital in excess of
Par value 2,526,770 2,526,770
Accumulated deficit (1,586,296) (1,602,977)
---------- ----------

Total Stockholders Equity 1,190,474 1,173,793
---------- ----------

TOTAL LIABILITIES & EQUITY 1,190,474 1,173,793
---------- ----------

2


DOL RESOURCES, INC.
CONDENSED UNAUDITED STATEMENT OF INCOME

3 Months 9 Months
Ended Ended
9-30-00 9-30-00 9-30-99

Operating Revenue:
Oil and Gas Sales 39,935 119,919 46,525
Interest and other income -0- -0- 3,896
----------- ----------- -----------

Total 39,935 119,919 50,421

Operating Expenses:
Depletion,depreciation
and amortization 13,000 39,000 10,594

General and administrative 200 700 6,759
Interest -0- -0- 13,650
Consulting & Mgmt Fees 4,091 12,272 4,091
Production Taxes 3,421 9,981 4,209
Lease Operating Expense 10,741 41,285 26,897
Lease Rentals -0- -0- 361
----------- ----------- -----------

Total Operating Expenses 31,453 103,238 66,561

Net Income (Loss) before income
taxes 8,482 16,681 (16,140)
Provision for income taxes
(note 6) -0- -0- -0-
----------- ----------- -----------
Net Income (Loss) 8,482 16,681 (16,140)



Weighted Average Number of Common
Shares Outstanding 25,000,000 25,000,000 22,657,516

Earnings (Loss)forCommon Share $ .00034 $ .00067 $ (.0007)


The accompany notes are an integral part of this statement.








3




DOL RESOURCES, INC.
CONDENSED UNAUDITED STATEMENT OF STOCKHOLDER'S equity
Nine Months ended September 30, 2000 and 1999

Capital Stock Capital in
Number of Excess of Accumulated Treasury
Shares Amount Par Value Deficit Stock
------------- ------------- ------------- ------------- -------------


Balance at
1/1/00 25,000,000 250,000 2,526,770 (1,602,977) -0-
Net Income -0- -0- -0- 16,681 -0-
------------- ------------- ------------- ------------- -------------

Balance at
9/30/00 25,000,000 250,000 2,526,770 (1,586,296) -0-
------------- ------------- ------------- ------------- -------------

Balance at
1/1/00 20,783,529 207,835 1,501,618 (1,546,947) (375)
Net Income -0- -0- -0- (16,140) -0-
------------- ------------- ------------- ------------- -------------
Treas. Stock
Cancelled (375) (375)
ELGT Stock
Exchange 4,216,471 42,165 357,835
Parent Con-
Tribution 667,692
------------- ------------- ------------- ------------- -------------
Balance at
9/30/99 25,000,000 250,000 2,526,770 (1,563,087) -0-



CONDENSED UNAUDITED STATEMENT
OF CHANGES IN FINANCIAL POSITION

Nine Months Ended:
Sept. 30, 2000 Sept. 30, 1999
Financial Resources Provided
By Operations:
Net Income 16,681 (16,140)
Items not requiring outlay
of working Capital:
Depletion, Deprec. and
Amortization 39,000 10,594
-------------- --------------
Working Capital provided by
operations 55,681 (5,546)
Decrease(increase) in Properties 59,666 (407,619)
Reduction in other Assets -0- 67,168
Increase in long term debt -0- -0-
-------------- --------------

Total Resources 115,347 (345,997)

Financial Resources Applied to
Retirement of long-term debt -0- (330,472)
Increase in common stock -0- 42,165
Increase in contributed stock -0- 1,025,528
-------------- --------------
Net Increase (Decrease) in
Working Capital 115,347 391,224
Working Capital at begin. of period 411,482 13,099
Working Capital at end of period 526,829 404,323




4


DOL Resources, Inc.
NOTES TO FINANCIAL STATEMENTS

NOTE 1. Summary of Significant Accounting Policies
------------------------------------------

Organization and Operations
The Company was organized on November 6, 1973 under the laws of the
State of Wyoming. Its primary activities have been the acquisition of
interests in various oil and gas properties, coal properties and
exploration for oil and gas.

Allowance for Bad Debts:
Accounts receivable from participants in oil and gas exploration are
estimated to be at least 95% collectible, consequently a 5% allowance
for bad debts has been established against those receivables.
Receivables from the sale of oil and gas are fully collectible, as
accruals are based primarily on collection of oil and gas sales
subsequent to year-end.

Properties:
The Company uses the full cost method of accounting for oil and gas
acqusition, exploration and development costs. The Company has
operations only within the continental United States and consequently
has only one cost center.

All costs associated with property acquisition, exploration and
development activities are capitalized within the cost center. No costs
related to production, general corporate overhead or similar activities
are capitalized.

Capitalized costs within the cost center are amortized on the
units-of-production basis using proved oil and gas reserves. The
carrying value of capitalized cost is limited to the sum of (A) the
present value of future net revenues from estimated production of
proved oil and gas reserves, plus (B) the cost of properties not being
amortized, plus (C) the lower cost or estimated fair value of unproved
properties included in the costs being amortized less (D) income tax
effects related to differences between book and tax basis of the
properties involved. For the year ended December 31, 1985, total
capitalized costs exceeded the cost center ceiling by $137,083. The
excess was expense to current operations.



5


DOL RESOURCES, INC.
NOTES TO FINANCIAL STATEMENTS (CON'T).


NOTE 1: Sales and abandonments of oil and gas properties are accounted for as
adjustment of capitalized costs, with no gain or loss recognized.

Drilling in progress is included in the cost center with depletion
being calculated on all costs with cost center.

Earnings per Common Share Earnings per common share were computed by
dividing the net loss by the weighted average number of common shares
outstanding during the year.

NOTE 2. Related Party Transactions

The Company ended 1999 with accounts receivable from Glauber Management
Corp.of $11,482. The balance of this account on September 30,Was
$126,829.

NOTE 3. Income Taxes

The Company as of December 31, 1998 had a net operating income loss
carryover for income tax purposes of approximately $557,000. The
carryover is available to offset taxable income of future years and
expires as follows:


2000 109,000
2001 40,000
2002 48,000
2003 3,000
2004 34,000
2007 14,000
2008 19,000
2009 1,000
2011 217,000
2012 57,000
2013 15,000
---------
557,000










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For financial reporting purposes, the net operating loss has been used
to offset prior deferred income taxes. To the extend that the net
operating loss carryovers are utilized for income tax purposes in
future years, the deferred income taxes eliminated to give credits
related to timing differences of the current year not recorded, will be
reinstated.

Because of timing differences related principally to intangible
drilling costs, cumulative losses for income tax reporting purposes
exceed those reported by approximately $576,000. Because of the
uncertainly as to realization,no future tax benefits are recognized at
December 31, 1999.




























7


MANAGEMENT'S DISCUSSION AND ANALYSIS OF THE
CONDENSED UNAUDITED STATEMENT OF INCOME

The following is Management's discussion and analysis of certain
significant factors which have affected the Company's earnings during the period
included in the accompanying Condensed Unaudited Statement of Income.

A summary of the period to period changes in the principal items
included in the Condensed Unaudited Statement of Income is as shown below:

Nine Months
ending Sept. 30
2000 and 1999
---------------
Net Sales 69,498
Interest and Other Income (3,896)
General and Administrative (6,059)
Depletion, Depreciation
and Amortization 28,406
Consulting & Management Fees 8,181
Interest Expense (13,650)
Net Income (Loss) 32,821


Oil and gas sales increased as compared the same period last year due
increase in the price per BBL of oil and some increases in production due to
workovers.

The recurring cash flow for the first nine months of 2000 was
approximately $17,300 per month.Consulting and management fee expenses increased
due to the payment to Glauber Management Company effective 7-1-99. Interest
expense decreased due to assumption of bank debt by the Glauber Management
Company. General and Administrative expenses decreased due to lack of insurance
and transfer fees.

Management expects oil prices to level off and hold steady at around
$27.00 per barrel through the remainder of 2000. This not only increases
revenues and cash flow but enhances our ability to raise much needed funds for
drilling and reworking wells. It is the opinion of management that a minimum of
$25.00 per Bbl. oil is needed in order to expand operations and replace depleted
reserves. Meanwhile a continuing effort is being made to increase production,
and consequently revenues by seeking out and negotiating joint- venture
recompletion projects where positive reserve information exists.

Management is also seeking out possible merger opportunities. There
have been several negotiations with private companies desiring to go public. In
preparation for an impending merger Gluaber Management, by an agreement dated
June 30, 1999 assumed all liabilities and selected assets of the company in
exchange for contributed capital. Also, Oklahoma oil properties held by Glauber
Management Company were contributed to the Company.



8


Review of Independent Public Accountants:

The information contained in substantially all financial statements
accompanying this report were supplied by internal accountant of registrant.
Although such statements have not been reviewed by registrant's certified public
accountant they are available for review.

Office Information

No reports on Form 8-K were filed by the Company in the quarter for
which this report is filed.

SIGNATURES

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

DOL RESOURCES, INC.

/s/ Fred M. Updegraff
-----------------------------
Fred M. Updegraff
Vice President, Treasurer and
Principal Accounting Officer

Date: October 26, 2000









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