9

                             AMENDED
      FORM 10-Q/QUARTERLY10-Q.--QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
             OF THE SECURITIES EXCHANGE ACT OF 1934
                          UNITED STATES
               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 period ended          JuneSeptember 30, 1997
                                  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:                     1-100
                                
                                  CROFF ENTERPRISES, INC.
     (Exact name of registrant as specified in its charter)
            Utah                                    87-0233535
     (State or other jurisdiction of           (I.R.S. Employer
    incorporation or organization)            Identification No.)
      1675 Broadway, Suite 1030, Denver, CO               80202
   (Address of principal executive offices)          (Zip Code)
                                        (303) 623-1963628-1963
         (Registrant's telephone number, including area code)
_________________________________________________________________
                             ______
 (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 has required  to
file  such  reports),  and (2) has been subject  to  such  filing
requirements for the past 90 days.
                                                X             Yes
______ No
                 APPLICABLE ONLY TO ISSUERS INVOLVED
                   IN BANKRUPTCY PROCEEDINGS DURING
                      THE PRECEDING FIVE YEARS:

Indicate  by  check  mark whether the Registrant  has  filed  all
documents and reports required to be filed by Sections 12, 13  or
15(d)  of the Securities Exchange Act of 1934 subsequent  to  the
distribution of securities under a plan confirmed by a court.
                                    ____________ Yes            ______
No
                APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's
classes  of  common  stock,  as of the latest  practicable  date:
516,265516,305 shares, one class only, as of JuneSeptember 30, 1997.
                              INDEX

INDEX TO INFORMATION INCLUDED IN THE QUARTERLY REPORT (FORM 10-Q)
TO  THE SECURITIES AND EXCHANGE COMMISSION FOR THE THREE AND SIXNINE
MONTHS ENDED JUNESEPTEMBER 30, 1997 (UNAUDITED).

_________________________________________________________________

PART I.   FINANCIAL INFORMATION                   Page Number

Balance Sheets as of December 31, 1996
      and JuneSeptember 30, 1997                                3, 43-4

Statements of Operations for the Three and
       SixNine   Months   Ended  JuneSeptember   30,   19961997   and   19971996
5

Statements of Cash Flows
     for the SixThree and Nine Months
     Ended JuneSeptember 30, 19961997 and 19971996                      6

Notes to Financial Statements                               7

Management's'Management's Discussion and Analysis of Financial
          Condition      and      Results      of      Operations
77-9


PART II.  OTHER INFORMATION

Reports on Form 8-KSignatures.                                                 9

Signatures.                                            10


_________________________________________________________________

The  condensed financial statements included herein are  for  the
Registrant, Croff Enterprises, Inc.  The financial statements for
the  sixthree and nine months ended JuneSeptember 30, 1997 and 1996  are
unaudited;  however, they reflect all adjustments which,  in  the
opinion  of  management,  are necessary  to  present  fairly  the
results of the interim periods.  All adjustments necessary  to  a
fair  representation of the financial statements are of a  normal
recurring nature.
                 PART I:  FINANCIAL INFORMATION
                     CROFF ENTERPRISES, INC.
                          BALANCE SHEET
                            DecemberUnaudited

                                              Dec 31,  JuneSept 30,
                                               1996
1997

CURRENT ASSETS:
  Cash and Cash Equivalents:                           $184,564
$214,145$184,565
$216,953
  Marketable equity securities
10,500        9,75015,250
  Accounts receivable:
     Oil and gas purchasers                           31,764
25,72222,070
     Refundable income taxes                            4,362
6,362
        Other   advances                                        0
02,206
              Total current assets                       $231,191
$255,979231,191
256,479

PROPERTY AND EQUIPMENT, AT COST:
  Oil & gas properties, successful efforts method:
      Proved properties                                  $329,700
$348,752329,700
368,196
      Unproved properties                                101,901
101,901
  431,601
450,653
       Less wazzu accumulated depletion and depreciation
(229,621)       (241,621)(247,621)

Net property and equipment                               201,980
209,032222,476
   Coal Investment                                    82,533
82,533

             Total    Assets20,533

                                                   $ 515,704
547,544$ 499,488
                 PART I:  FINANCIAL INFORMATION
                     CROFF ENTERPRISES, INC.
                          BALANCE SHEET
                            DecemberUnaudited

                                              Dec 31,   JuneSept 30,
                                                             1996
1997


Current Liabilities:
     Accounts   payable                                    $   3,164
$1,476$3,164
$1,451
   Accrued liabilities                                      1,660
3,5852,153

      Total current liabilities                             4,824
5,0613,604

Stockholders' equity:
   Class A Preferred, none issuedequity
   Class B Preferred stock, no par value; 520,000 shares
      authorized,   516,506   shares   issued   and   outstanding
233,744   233,744
   Common stock, $.10 par value 20,000,000 sharesshare
           authorized,        579,143        shares        issued
57,914      57,914
         Capital      in      excess      of      par       value
672,799             672,799
    Accumulated deficit                                 (370,931)
(339,078)(385,677)

                                                          593,526
625,379578,780
   Less treasury stock at cost,
       62,628    shares    in   1996   and   62,878    in    1997
(82,646)           (82,896)

                    Total           stockholders'          equity
510,880            542,483

                                                         $515,704
$547,544495,884

                                                    $     515,704
$ 499,488
                     CROFF ENTERPRISES, INC.
                     Statement of Operations

     For the Three And Sixand Nine Months Ended JuneSeptember 30, 1997
                           (Unaudited)


                               For ThreeNine Months          For SixThree
Months
                                                            Ended
Ended
                                      6/9/30/96             6/9/30/97
6/9/30/96      6/9/30/97
Revenue:

Oil    and    gas   sales........                        $ 39,984  $47,515    $
87,469    $105,517$133,784
$151,054       $46,315   $45,537
Other    income  (loss).....              21,699           1,772
22,687               3,994income......                         23,298         7364
611       4,120
     Total   revenue                       $ 61,683       $49,287   $110,156
$109,511157,082        158,418
46,926     49,657

Costs and expenses:
  Lease  operating expense..                    $    9,682          8,897
$  20,311          18,17129,636     25,760
9,324      7,589
  Depreciation  and depletion                   16,500     18,000
4,500      6,000
12,000             12,000
General  and  administrative                    20,438         21,631
39,813             41,64861,447     58,584
21,857    17,686wazzu
   Interest                                     223             0
0      0
  Rent  Expense - Related Party                  8,820      8,820
2,940       2,940
5,880                5,880

                            $   37,560    $39,468     $    78,004
$77,699Write  down  of coal investment                     0      62,000
0     62,000

                                       116,626            173,164
38,621     96,215

Net   income  (loss)                   $    24,12340,456      $(14,746)
$  9,819   $   32,152
$31,8128,305  $(46,558)


Earnings  (Loss) Per Common  Share         $          .04.08       $
.01(.03)          $     .06.02    $     .06(.09)
                     CROFF ENTERPRISES, INC.
                     Statement of Cash Flows
                            Unaudited
                                                        For  the
SixNine
                                                         Months
Ended

JuneSeptember 30,
                                               1996        1997
CASH FLOWS FROM OPERATING ACTIVITIES:

Net income     (loss)                                $32,152
$31,812income/loss                                        $40,456
$(14,746)

Adjustments to reconcile net income to
   net cash provided by operating activitiesactivities:
Depreciation and depletion:
12,000    12,000depletion                             16,500
18,000
Write down of coal investment                              0
62,000
Change in assets and liabilities:
Decrease(Increase)Decrease in Receivables                    453
4,041
       Decrease(Increase)accounts receivable                          2,585
11,850
Decrease/Increase in other assets                        4,800
0
Decrease(Increase)Increase/Decrease in accounts payable                   (1,932)
1,688
          Decrease(Increase)(2,433)
(1,713)
Gain/Loss sale of producing lease
(20,966)       0
Decrease/Increase in accrued liabilities
21    (1,409)
      (Gains)Losses  on  Sale  of  Assets                (22,247)
045                493

     Total adjustments                                      $ (6,905) 16,320531
90,630

 Net cash provided by operating activities:
25,247
48,13240,987       75,884

CASH FLOWS FROM INVESTING ACTIVITIES:
  (Purchase)Sale/Purchase of Securities                          4,557
(4,750)
  Sale of oil & gas properties:field
118,020             (19,052)
  (Purchase)0
  Purchase/Return of Coal Investment                       4,255coal investment                        8,511
0
  Sale(Depreciation)Purchase of marketable    equity    securities
5,016          750
                                         127,292         (18,302)producing leases
(12,675)         (38,496)
                                                118,413
(43,246)
CASH FLOWS FROM FINANCING ACTIVITIES:
  Purchase of treasury   stockTreasury Stock                                  0
(250)
  Proceeds  fromProceeds/Payoff of Note Payablefor Coal Purchase
(50,000)            0

                                                 (50,000)
(250)

Increase (decrease) in cash:                                    102,539
29,580122,230
32,388

Cash           at          beginning          of          period:
$ 37,933          $184,565184,565
     Cash at end of period:                        $140,472
$214,145$160,163
                            $216,953
                     CROFF ENTERPRISES, INC.
                  NOTES TO FINANCIAL STATEMENTS
  FOR THE THREE AND SIXNINE MONTH PERIODS ENDED JUNESEPTEMBER 30, 1997

BASIS OF PREPARATIONPREPARATION.

      The  condensed financial statements for the three and  sixnine
month  periods ended JuneSeptember 30, 1997 and 1996 in  this  report
have  been prepared by the Company without audit pursuant to  the
rules  and  regulations of the Securities and Exchange Commission
and  reflect,  in  the  opinion  of management,  all  adjustments
necessary to present fairly the results of the operations of  the
interim   periods  presented  herein.  Certain reclassifications  have  been
made  to the prior years' financial statements to conform to  the
1997  presentation.   Certain  information   in
footnote  disclosures  normally included in financial  statements
prepared   in  accordance  with  generally  accepted   accounting
principles  have  been  omitted  pursuant  to  such   rules   and
regulations,  although  the  Company  believes  the   disclosures
presented  herein are adequate to make the information  presented
not  misleading.  It is suggested that these condensed  financial
statements  be read in conjunction with the financial  statements
and notes thereto included in the Company's Annual Report on Form
10-K  for the year ended December 31, 1996, which report has been
filed  with  the  Securities  and  Exchange  Commission,  and  is
available from the Company.

             MANAGEMENT'S'MANAGEMENT'S DISCUSSION AND ANALYSIS OF
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONSOPERATIONS.

          Three-Month Period Ended JuneSeptember 30, 1997,
 as Compared to the Three-Month Period Ended JuneSeptember 30, 1996.

OIL AND GAS OPERATIONS

      Oil and gas income, primarily from royalties, for the three
months  ended JuneSeptember 30, 1997 was $47,515$45,537 compared to  $39,984$46,315
for  the same time period of the prior year.  This small decrease
was  due to lower oil and natural gas prices, offset somewhat  by
increased  production.   Oil prices were  down  about  $2.00  per
barrel  and natural gas prices were flat compared to the  quarter
ending JuneSeptember 30, 1996.

     Production costs, which include lease operating expenses and
production  related taxes, for the three months  ended  September
30,  1997, decreased when compared to the same time period of the
prior  year,  $7,589 in 1997 compared to $9,324  in  1996.   This
decrease  was  due to more royalty income, and less workovers  on
operated wells.

           Nine Month Period Ended September 30, 1997,
 as Compared to the Nine Month Period Ended September 30, 1996.

OIL AND GAS OPERATIONS

      Oil  and gas income, primarily from royalties, for the nine
months  ending  September  30, 1997,  was  $151,054  compared  to
$133,784  for  the  same time period of  the  prior  year.   This
increase  was  due  to  higher royalties, primarily  from  higher
production of coal seam natural gas in the Four Corners region of
Colorado  and  New  Mexico,  and  to  increased  production  of oil and natural gas primarily  from
new
purchases  and  increased  natural  gas  production  on  existing
leases.   Prices  for  oil decreased from approximately  $20  per
barrel  in this quarter in 1996, to slightly over $18 per barrel,
this  year.   Natural gas prices were approximately even.   Third
party drilling activity in 1996 added to the Company's production
in 1997, which more thanpurchased working interests, offset the decrease inby lower prices.

     Production costs, which include lease operating expenses and
all production related taxes, for the threenine months ended JuneSeptember
30,  1997, were stable, $8,897 in 1997,decreased when compared to $9,682 during the same time period of the
prior  year.  The low operating  expenses
areyear, $25,760 in 1997 compared to $29,636 in  1996.   This
difference was due to the  large  amount of  royalty  income.   Depletion
increased due to the purchase of new wells.less workovers in 1997.

OTHER INCOMEINCOME.

      During the threenine month period ended JuneSeptember 30, 1997,  the
Company had other income of $1,772.  The other income figure  was
$21,699 for the quarter ending June 30, 1996.  This was due to  a
gain$7,364 from the sale of producing leases during this quarter  last
year, while the current year reflects primarily interest income.

GENERAL AND ADMINISTRATIVE EXPENSES

      Generalearned, dividend
payments,  and administrative expenses for the quarter  ending
June  30,  1997, were $21,631 plus rent expense of $2,940  for  a
total  of  $24,571  compared to $20,438,  plus  rent  expense  of
$2,940,  for a total of $23,378 inlease bonuses.  During the same period in 1996.   The
Company expects general and administrative costs to remain stable
this year.

             Six Month Period Ended June 30, 1997,
    as Compared to the Six Month Period Ended June 30, 1996.

OIL AND GAS OPERATIONS

      Oil  and gas income, primarily from royalties, for the  six
months ending June 30, 1997, was $105,517 compared to $87,469 for
the six months ended June 30, 1996.  This increase was caused  by
higher  oil  and  natural  gas  production,  primarily  increased
natural gas from coal seam methane wells, and new well purchases.
This was offset by lower oil prices compared to one year ago.

     Production costs, which include lease operating expenses and
all  production related taxes, for the six months ended June  30,
1997,  were  $18,171 in 1997, a decrease from $20,311 during  the
six  months  ended  June  30, 1996.   There  was  no  significant
difference in operating costs from 1996 to 1997.

OTHER INCOME.

     During the sixnine month  period
ended June 30, 1997, the Company
had  other income of $3,994, primarily from interest and dividend
earnings.   During the first six months ofin  1996, the Company had other income of $22,687,$23,298.  The Company's
other  income  was lower due primarily fromto the sale  of  oil and  gasproducing
leases in addition to interest income.  The Company also received
a  small bonus from leasing acreage duringTexas in the fist six months of
1997.year earlier period.

GENERAL AND ADMINISTRATIVE.

      General  and  administrative expenses for  the  nine  month
period  ending  JuneSeptember  30, 1997,  were  $41,648$58,584  compared  to
$39,813$61,447  for  the  sixnine month period ending JuneSeptember  30,  1996.
TheThis  difference was due to additional  expenses  for  listingmoving costs in 1996 when the Company
moved  its offices in Denver.  During the nine month period ended
September 30, the Company's financialstotal expenses increased to  $173,164
in Moody's Financial Services.1997 from $116,626 in 1996.  The increase was due to the write
off  of  $62,000  in  the value of the note and  coal  leases  in
Indiana, as explained below.  General and administrative expenses
remain  at  approximately the same level during both years.   The
Company  is  currently operating with two part time officers  and
employees, and is contracting for its accounting services, office
space and supplies.

FINANCIAL CONDITION

      As  of  JuneSeptember  30, 1997, the Company's  current  assets
of
$255,979 exceeded  current  liabilities by $252,875, compared  to  working
capital  of  $5,061 by $250,918.   As
of$226,367  at December 31, 1996, the Company's current assets were $231,191,
and  current  liabilities were $4,824  for  an1996.   This  increase  of
$26,508 in the Company's working capital position of  approximately  $29,612.
This increaseduring the nine
month period ending September 30, 1997 was due to the Company accumulatingbuild-up of
cash  flow  mostless  the  purchase  of  which it has spentproducing  properties.   The
Company's  ratio  of  current assets to current  liabilities  was
approximately  48  to  1 on acquiring anDecember 31, 1996  and  70  to  1  on
September 30, 1997.

      The Company is continuing its program to invest its cash in
non-operated  oil  and gas leaseworking interests and  royalties,  and
retaining cash to assist in expenses of any acquisition.

      As  of  September 30, 1997, the Company determined that  it
must  write down the value of its coal investment.  This  was  an
approximate two percent investment in a limited liability company
(L.L.C.)  that  held a mortgage note with an option  to  own  two
percent  of a coal mine in Indiana.  The major purchaser of  this
coal  canceled  the  contract in December,  1995,  and  the  coal
company  subsequently filed for Chapter 11 Bankruptcy protection.
The  assets  were  being liquidated while  the  L.L.C.  sued  the
utility.  In July, 1997.   The1997, the trial court ruled against the L.L.C.
Without  a  cash  recovery from this litigation, which  is  being
appealed, recovery of most of this investment is unlikely and the
Company  intendsdetermined  to maintainreduce its investment  to  the  estimated
liquidation value of cash, while it  seeks  an
acquisition  or  more producing leases.  The Company  expects  to
continue  to  operate at a positive cash flow  for  the  calendar
year.land and equipment remaining.

PART II.  OTHER INFORMATION

ITEM 6(b).  REPORTS ON FORM 8-K.

      The  registrant has filed no reports on Form  8-K  for  the
period ending June 30, 1997.NONE.


                         S I G N A T U R E S


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 thereunto duly authorized.

                                REGISTRANT:   CROFF  ENTERPRISES,
INC.


                              By____________
                                            _____________________By_________________________________
                              Gerald L. Jensen
                              Chief Executive Officer and
                                          Chief Financial Officer


                              By_________________________________
                                        Beverly          Licholat
Chief Accounting Officer

Date:___________________,__________________, 1997