<ARTICLE> 5
<CIK>  0000095254
<NAME> CASPEN OIL INC
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUL-31-1996
<PERIOD-START>                             AUG-01-1995
<PERIOD-END>                               JAN-31-1996
<CASH>                                          82,175
<SECURITIES>                                         0
<RECEIVABLES>                                  264,353
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               346,528
<PP&E>                                      20,025,807
<DEPRECIATION>                              16,754,369
<TOTAL-ASSETS>                               4,508,827
<CURRENT-LIABILITIES>                        2,795,979
<BONDS>                                              0
<PREFERRED-MANDATORY>                          600,000
<PREFERRED>                                    425,000
<COMMON>                                       180,922
<OTHER-SE>                                     486,926
<TOTAL-LIABILITY-AND-EQUITY>                 4,508,827
<SALES>                                        467,272
<TOTAL-REVENUES>                               549,004
<CGS>                                          242,157
<TOTAL-COSTS>                                  373,152
<OTHER-EXPENSES>                               539,550
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (605,855)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                        0