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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000887396-01-500008.txt : 20010828
<SEC-HEADER>0000887396-01-500008.hdr.sgml : 20010828
ACCESSION NUMBER:		0000887396-01-500008
CONFORMED SUBMISSION TYPE:	10QSB
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20010630
FILED AS OF DATE:		20010827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICOMM RESOURCES CORP
		CENTRAL INDEX KEY:			0000887396
		STANDARD INDUSTRIAL CLASSIFICATION:	 [9995]
		IRS NUMBER:				731238709
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10QSB
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16653
		FILM NUMBER:		1723439

	BUSINESS ADDRESS:	
		STREET 1:		15 E 5TH STREET
		STREET 2:		SUITE 4000
		CITY:			TULSA
		STATE:			OK
		ZIP:			74103
		BUSINESS PHONE:		9185870096

	MAIL ADDRESS:	
		STREET 1:		15 E 5TH STREET
		STREET 2:		SUITE 4000
		CITY:			TUSLA
		STATE:			OK
		ZIP:			74103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICOMM CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>10QSB
<SEQUENCE>1
<FILENAME>empr0601.htm
<TEXT>
<html>

<head>
<title></title>
</head>

<body>

<p ALIGN="CENTER">UNITED STATES</p>

<p ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</p>

<p ALIGN="CENTER">Washington, D.C. 20549</p>

<p ALIGN="CENTER">Form 10-QSB</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Mark One)</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[X] Quarterly Report Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of
1934</p>

<p ALIGN="CENTER">For the quarterly period ended June 30, 2001</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
[ ] Transition Report Under Section 13 or 15(d) of the Exchange Act</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For the transition period from _______________to________________</p>

<p ALIGN="CENTER">Commission file number 0-20193</p>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">(Exact name of small business issuer as specified in its Charter)</p>

<p align="center">DELAWARE
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
73-1238709</p>

<p align="center">(State or other jurisdiction of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(I.R.S. Employer</p>

<p align="center">incorporation or organization)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Identification No.)</p>

<p align="center">15 E. 5TH STREET, SUITE 4000, TULSA, OK
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
74103-4346</p>

<p align="center">(Address of principal executive offices)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(Zip Code)</p>

<p align="center">(Issuer's telephone number) (918) 587-8093</p>

<p align="center">Not Applicable</p>

<p align="center">(Former name, former address and former fiscal year, if changed since
last report)</p>

<p>State the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date:</p>

<p>Common Stock, $.001 Par Value &#150; 23,495,259 shares outstanding as of June 30, 2001.</p>

<p>Transitional Small Business Disclosure Format: [ ] Yes [X] No</p>

<p align="center">1</p>

<p>&nbsp;</p>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">INDEX TO FORM 10-QSB</p>

<table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="626">
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Part I. FINANCIAL INFORMATION</td>
    <td WIDTH="10%" VALIGN="TOP">Page</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Item 1. Financial Statements</td>
    <td WIDTH="10%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Balance Sheet at June 30, 2001 (Unaudited)</td>
    <td WIDTH="10%" VALIGN="TOP"><p ALIGN="CENTER">3</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Statements of Operations for the three months ended June 30,
    2001and 2000, and the six months ended June 30, 2001 and 2000 (Unaudited)</td>
    <td WIDTH="10%" VALIGN="BOTTOM"><p ALIGN="CENTER">4</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Statements of Cash Flows for the six months ended June 30,
    2001 and 2000 (Unaudited)</td>
    <td WIDTH="10%" VALIGN="BOTTOM"><p ALIGN="CENTER">5</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Notes to Financial Statements</td>
    <td WIDTH="10%" VALIGN="TOP"><p ALIGN="CENTER">6</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Part II. OTHER INFORMATION</td>
    <td WIDTH="10%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Item 2. Changes in Securities<p>Item 5. Other information</td>
    <td WIDTH="10%" VALIGN="TOP"><p ALIGN="CENTER">10</p>
    <p ALIGN="CENTER">10</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Item 6. Exhibits and Reports on Form 8-K</td>
    <td WIDTH="10%" VALIGN="TOP"><p ALIGN="CENTER">10</td>
  </tr>
  <tr>
    <td WIDTH="90%" VALIGN="TOP">Signatures</td>
    <td WIDTH="10%" VALIGN="TOP"><p ALIGN="CENTER">11</td>
  </tr>
</table>
<font SIZE="2">

<p align="center">2</p>
</font>

<p>&nbsp;</p>

<p>Item 1. FINANCIAL STATEMENTS</p>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">CONSOLIDATED BALANCE SHEET</p>

<table BORDER="0" CELLSPACING="1" CELLPADDING="7" WIDTH="583">
  <tr>
    <td WIDTH="64%" VALIGN="TOP"><p ALIGN="CENTER">ASSETS</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="CENTER">June 30,</p>
    <p ALIGN="CENTER">2001</b></font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><b><p ALIGN="CENTER">December 31,</p>
    <p ALIGN="CENTER">2000</b></font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Current assets:</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="1">(UNAUDITED)</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Cash and cash equivalents</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 33,249</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 13,000</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Accounts receivable<p>Prepaid expenses</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">197,472</p>
    <p ALIGN="RIGHT">11,629</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">35,604</p>
    <p ALIGN="RIGHT">3,569</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Total current assets</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">242,350</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">52,173</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Property &amp; equipment net of accumulated<p>depreciation
    and depletion</td>
    <td WIDTH="16%" VALIGN="BOTTOM"><font SIZE="2"><p ALIGN="RIGHT">7,065,114</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="BOTTOM"><font SIZE="2"><p ALIGN="RIGHT">890,765</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 7,307,464</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 942,938</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">LIABILITIES AND STOCKHOLDERS' EQUITY</td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Current liabilities:</td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Accounts payable and accrued liabilities<p>Note payable (Note
    4)</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 290,578 </p>
    <p ALIGN="RIGHT">116,000</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 95,030 </p>
    <p ALIGN="RIGHT">-</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Debenture payable to affiliate</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">66,000</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">282,754</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Total current liabilities</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">472,578</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">377,784</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Deferred Taxes</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">1,250,000</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Stockholders' equity:</td>
    <td WIDTH="16%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Common stock at par value</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">23,495</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">14,880</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Additional paid in capital<p>Accumulated deficit</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">7,444,673</p>
    <p ALIGN="RIGHT">(1,883,282)</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">2,365,528</p>
    <p ALIGN="RIGHT">(1,815,254)</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP">Total stockholders' equity</td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">5,584,886</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">565,154</font></td>
  </tr>
  <tr>
    <td WIDTH="64%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 7,307,464</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="16%" VALIGN="TOP"><font SIZE="2"><p ALIGN="RIGHT">$ 942,938</font></td>
  </tr>
</table>

<p>See accompanying notes to financial statements.</p>

<p align="center">3</p>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">CONSOLIDATED STATEMENTS OF OPERATIONS</p>

<p ALIGN="CENTER">(UNAUDITED)</p>

<table BORDER="0" CELLSPACING="1" CELLPADDING="7" WIDTH="649">
  <tr>
    <td WIDTH="36%" VALIGN="TOP"></td>
    <td WIDTH="30%" VALIGN="TOP" COLSPAN="3"><p ALIGN="CENTER">Three Months Ended </p>
    <p ALIGN="CENTER">June 30,</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="30%" VALIGN="TOP" COLSPAN="3"><p ALIGN="CENTER">Six Months Ended</p>
    <p ALIGN="CENTER">June 30,</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="CENTER">2001</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="CENTER">2000</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="CENTER">2001</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="CENTER">2000</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Oil and gas sales<p>Revenues, net </td>
    <td WIDTH="14%" VALIGN="bottom"><p ALIGN="RIGHT">$ 12,410 </td>
    <td WIDTH="3%" VALIGN="bottom"></td>
    <td WIDTH="14%" VALIGN="bottom"><p ALIGN="RIGHT">$ -</td>
    <td WIDTH="3%" VALIGN="bottom"></td>
    <td WIDTH="14%" VALIGN="bottom"><p ALIGN="RIGHT">$ 12,410 </td>
    <td WIDTH="3%" VALIGN="bottom"></td>
    <td WIDTH="14%" VALIGN="bottom"><p ALIGN="RIGHT">$ -</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Less royalties</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT"><u>(2,482)</p>
    <p ALIGN="RIGHT">9,928</u></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><u><p ALIGN="RIGHT">-</p>
    <p ALIGN="RIGHT">- </u></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><u><p ALIGN="RIGHT">(2,482)</p>
    <p ALIGN="RIGHT">9,928</u></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><u><p ALIGN="RIGHT">-</p>
    <p ALIGN="RIGHT">-</u></td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Costs and expenses:<p>Operating expenses</p>
    <p>General and Administrative </p>
    <p>Depletion and depreciation</td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">10,154</p>
    <p ALIGN="RIGHT">32,358</p>
    <p ALIGN="RIGHT">1,050</td>
    <td WIDTH="3%" VALIGN="BOTTOM"></td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">-</p>
    <p ALIGN="RIGHT">56,723</p>
    <p ALIGN="RIGHT">-</td>
    <td WIDTH="3%" VALIGN="BOTTOM"></td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">10,154</p>
    <p ALIGN="RIGHT">72,115</p>
    <p ALIGN="RIGHT">1,050</td>
    <td WIDTH="3%" VALIGN="BOTTOM"></td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">-</p>
    <p ALIGN="RIGHT">84,026</p>
    <p ALIGN="RIGHT">-</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">43,562</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">56,723</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">83,319</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">84,026</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Operating loss</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(33,634)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(56,723)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(73,391)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(84,026)</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Other income and expense:</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Interest income</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">8,688</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">-</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">6,919</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">1,721</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Interest expense</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">-</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(1,556)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">-</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Total other income and expense</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">8,688</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">-</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">5,383</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">1,721</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Net loss</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ ( 24,946)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ (56,723)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ (68,028)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$(82,305)</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Net loss per common share</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ 0.00</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ 0.00</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ 0.00</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ 0.01</td>
  </tr>
  <tr>
    <td WIDTH="36%" VALIGN="TOP">Weighted average number of<p>common shares outstanding</td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">18,472,914</td>
    <td WIDTH="3%" VALIGN="BOTTOM"></td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">14,879,589</td>
    <td WIDTH="3%" VALIGN="BOTTOM"></td>
    <td WIDTH="14%" VALIGN="BOTTOM">17,000,807</td>
    <td WIDTH="3%" VALIGN="BOTTOM"></td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">14,879,589</td>
  </tr>
</table>

<p>See accompanying notes to financial statements</p>

<p align="center">4</p>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">CONSOLIDATED STATEMENTS OF CASH FLOWS</p>

<p ALIGN="CENTER">(UNAUDITED)</p>

<table BORDER="0" CELLSPACING="1" CELLPADDING="7" WIDTH="625">
  <tr>
    <td WIDTH="62%" VALIGN="TOP"></td>
    <td WIDTH="38%" VALIGN="TOP" COLSPAN="4"><p ALIGN="CENTER">Six Months Ended </td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2"></td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="CENTER">June 30,</p>
    <p ALIGN="CENTER">2001</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="CENTER">June 30,</p>
    <p ALIGN="CENTER">2000</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Cash flows from operating activities:</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Net loss</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$ (68,028)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">$ (82,305)</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Adjustments to reconcile net loss to net cash
    used in operating activities:</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Depreciation and amortization</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">1,050</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">1,363</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">(Increase) decrease in assets:<p>Accounts
    receivable </td>
    <td WIDTH="14%" VALIGN="BOTTOM"><p ALIGN="RIGHT">(161,868)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="BOTTOM"><p ALIGN="RIGHT">-</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Prepaid expenses</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(8,060)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">3,244</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Increase (decrease) in liabilities:</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Accounts payable and accrued expenses</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">195,548</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">3,188</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Net cash used in operating activities </td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(41,358)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">(74,510)</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Cash flows from investing activities:</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Cash payments for investments in prospects</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(751,436)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">(127,045)</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Net cash used in investing activities</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(751,436)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">(127,045)</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Cash flows from financing activities:</td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Issuance of Common Stock</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">913,797</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">200,000</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Proceeds (repayment) of note payable &#150;
    related party</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">(100,754)</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">110,000</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Net cash provided by financing activities</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">813,043</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">310,000</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Net increase in cash</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">20,249</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">108,445</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2"></td>
    <td WIDTH="14%" VALIGN="TOP"></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"></td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Cash &#150; Beginning</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">13,000</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">23,153</td>
  </tr>
  <tr>
    <td WIDTH="65%" VALIGN="TOP" COLSPAN="2">Cash &#150; Ending</td>
    <td WIDTH="14%" VALIGN="TOP"><p ALIGN="RIGHT">$33,249</td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="17%" VALIGN="TOP"><p ALIGN="RIGHT">$ 131,598</td>
  </tr>
</table>

<p>See accompanying notes to financial statements</p>

<p align="center">5</p>

<p ALIGN="CENTER">&nbsp;</p>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">NOTES TO CONSOLDIATED FINANCIAL STATEMENTS</p>

<p ALIGN="CENTER">(UNAUDITED)</p>

<p>1. BASIS OF PRESENTATION:</p>

<p ALIGN="JUSTIFY">The accompanying unaudited consolidated financial statements of
Americomm Resources Corporation (&quot;Americomm&quot;, or the &quot;Company&quot;) have
been prepared in accordance with generally accepted accounting principles for interim
financial information and the instructions to Form 10-QSB. Accordingly, they do not
include all of the information and footnotes required by generally accepted accounting
principles for complete financial statements. In the opinion of management, all
adjustments (consisting of only normal recurring accruals) considered necessary for a fair
presentation of the Company&#146;s financial position, the results of operations, and the
cash flows for the interim periods are included. Operating results for the interim periods
are not necessarily indicative of the results that may be expected for the year ending
December 31, 2001.</p>

<p ALIGN="JUSTIFY">The consolidated financial statements for the period ended June 30,
2001 include the accounts of the Company and one month of operation of its wholly owned
subsidiary, Empire Petroleum Corporation.</p>

<p ALIGN="JUSTIFY">The information contained in this Form 10-QSB should be read in
conjunction with audited financial statements and related notes for the year ended
December 31, 2000 which are contained in the Company&#146;s Annual Report on Form 10-KSB
filed with the Securities and Exchange Commission (the &quot;SEC&quot;) on March 29, 2001,
Form 10KSB/A Number 1 filed on May 7, 2001.</p>

<p>2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:</p>

<p ALIGN="JUSTIFY">Oil and gas properties - The Company uses the successful efforts method
of accounting for its oil and gas 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.</p>

<p ALIGN="JUSTIFY">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.</p>

<p ALIGN="JUSTIFY">3. INCOME TAXES:</p>

<p ALIGN="JUSTIFY">As of June 30, 2001 the Company has tax net operating loss carry
forwards totaling approximately $1,898,000. If not used, these carry forwards will expire
in the years 2001 to 2020. Limitations may be placed on utilization of losses amounting to
approximately $144,000 from Americomm&#146;s wholly owned subsidiary.</p>

<p ALIGN="center">6</p>

<p>4. NOTES PAYABLE - AFFILILATES </p>

<p ALIGN="JUSTIFY">Note payable and debenture payable to an affiliate. On June 4, 2001 the
corporation received proceeds from two notes payable in the amount of $116,000 and further
signed a debenture note payable from an affiliated person for a further $66,000. These
notes are unsecured and bear interest at 12% per year, with interest payable monthly. They
are due and payable by the corporation on June 4, 2002 including a 3% premium on the
principal amounts due. In no event shall interest to be paid exceed an amount equal to
simple interest on the unpaid principal balances of the notes at the maximum rate
permitted by applicable law.</p>

<p ALIGN="JUSTIFY">5. EMPIRE PETROLEUM CORPORATION ACQUISITION</p>

<p ALIGN="JUSTIFY">On May 29, 2001 Americomm acquired Empire Petroleum Corporation, a
private company that owns a 25% interest in the Cheyenne River Prospect, increasing
Americomm's working interest in the Cheyenne River Wyoming Prospect to 75%. The
acquisition of Empire was accomplished by the issue of 7,492,351 Americomm common shares
or 30.6% of the total 24,476,925 shares now outstanding on a fully diluted basis. The
Company's shares issued were valued at $0.55 each for this transaction. The acquisition is
accounted for as follows:</p>
<font SIZE="2">

<p></font>USD</p>

<p>Value of shares issued
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>&nbsp;&nbsp;&nbsp;&nbsp; 4,120,793</p>
</u><font SIZE="2">

<p></font>Current assets
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
347,762</p>

<p>Investments
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
206,250</p>

<p>Current Liabilities
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(607,182)</p>

<p>Deferred Taxes
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(1,250,000)</p>

<p>Petroleum and natural gas properties&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>5,423,963</p>
</u>

<blockquote>
  <blockquote>
    <blockquote>
      <blockquote>
        <blockquote>
          <blockquote>
            <p><u>&nbsp;&nbsp; 4,120,793</p>
            </u>
          </blockquote>
        </blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
</blockquote>

<p ALIGN="JUSTIFY">Management changes concurrent with the Empire acquisition include the
appointment of John P. McGrain as Chairman and Chief Executive Officer, and Thomas J.
Jacobsen as President and Chief Operating Officer of the combined company. Mr. McGrain,
has 30 years experience as an investor with a focus on oil and gas companies and is
currently the Chairman of Westlinks Resources (Nasdaq: WLKS). Mr. Jacobsen, also a
Director of Westlinks, has more than 40 years experience in the oil and gas industry
within Canada, the United States and internationally.</p>

<p ALIGN="JUSTIFY">The Board of Directors is now comprised of John P. McGrain, Thomas J.
Jacobsen, Albert E. Whitehead, Thomas R. Bradley and John C. Kinnard. George H. Plewes has
resigned as a director. Al Whitehead and Tom Bradley, in addition to their board duties,
will continue to manage the company's land inventory of over 100,000 acres of leases.</p>
<!--webbot bot="HTMLMarkup" startspan TAG="XBOT" --><<p ALIGN="JUSTIFY"><!--webbot bot="HTMLMarkup" endspan
- -->


<p>6. SUBSEQUENT EVENT</p>

<p ALIGN="JUSTIFY">On July 20, 2001 the Board of Directors approved the merger of
Americomm with its now wholly owned subsidiary Empire Petroleum Corporation and the
simultaneous change in the name of Americomm to Empire Petroleum Corporation. Both the
merger and name change were effective August 15, 2001.</p>

<p ALIGN="JUSTIFY">Item 2. PLAN OF OPERATION</p>

<p ALIGN="JUSTIFY">All statements, other than statements of historical fact contained in
this report are forward-looking statements. Forward-looking statements generally are
accompanied by words such as &quot;anticipate,&quot; &quot;believe,&quot;
&quot;estimate,&quot; &quot;expect,&quot; &quot;may,&quot; &quot;might,&quot;
&quot;potential,&quot; &quot;project&quot; or similar statements. Although the Registrant
believes that the expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will prove correct. Factors
that could cause the Registrant's results to differ materially from the results discussed
in such forward-looking statements include the need for additional capital, the costs
expected to be incurred in the exploration and development of the Registrant's properties,
unforeseen engineering, mechanical or technological difficulties in drilling wells,
uncertainty of exploration results, operating hazards, competition from other natural
resource companies, the fluctuations of prices for oil and gas, the effects of
governmental and environmental regulation, general economic conditions and other risks
described in the Registrant's filings with the Securities and Exchange Commission.
Accordingly, the actual results of the Registrant's operations in the future may vary
widely from the forward-looking statements included herein, and all forward-looking
statements in this Report are expressly qualified in their entirety by the cautionary
statements in this paragraph.</p>

<p ALIGN="JUSTIFY">Americomm has no income producing oil and gas properties at June 30,
2001. However, an oil and gas test well was drilled in January 2001 on the Cheyenne River
Prospect. The test well encountered flows of oil and natural gas during the drilling
period and was subsequently completed as an oil well as described below.</p>

<p ALIGN="JUSTIFY">As of June 30, 2001, Americomm had $32,889 of cash on hand and $150,000
in marketable securities. Americomm expects that its cash on hand will be sufficient to
fund its operations for the next 3 months. Americomm&#146;s material commitments consist
of annual lease payments on the Cheyenne River Prospect of approximately $142,882, of
which $102,942 were paid in March 2001, with $40,424 of this amount paid by the Registrant
and the balance of $62,518 paid by the parties to the Farmout Agreement in the Cheyenne
River Prospect. The Registrant's additional commitments consist of office lease payments
of $3,568 per month and the salary of one secretary. In January 2000, the Registrant
sublet a portion of its office space at $1,000 per month. Mr. McGrain serves as an
executive officer of the Registrant without compensation. </p>

<p ALIGN="JUSTIFY">The Company continued to test, by different production methods, its
timber Draw Unit #1-AH oil and gas well. A pressure build-up test was conducted during the
month of April 2001 that resulted in a steady build-up to 1750 pounds of pressure on both
the casing</p>

<p ALIGN="center">8</p>

<p ALIGN="JUSTIFY">and tubing valves. From February 13, 2001 to June 22, 2001, the well
flowed 8,139 Barrels of 44 degree light gravity sweet crude and 29,072,000 cubic feet of
natural gas, with a BTU content of 1493. The well was shut-in on June 22, 2001 to conserve
the gas production being flared. Since additional drilling is planned during the fourth
quarter of 2001, the Company deemed it prudent to discontinue the production until more
wells are drilled and a pipeline connection is available to take the gas. The Company is
also studying the feasibility of conducting a 3-D seismic survey in the area surrounding
the Timber Draw Unit #1-AH well. Company technical personnel have evaluated 3-D seismic
data obtained by another company in the general prospect area and found the data to be
high quality and which could be useful in developing a prospect such as Cheyenne River. </p>

<p ALIGN="JUSTIFY">Exploration for oil and gas is highly speculative and involves greater
risks than many other businesses. 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.</p>

<p ALIGN="JUSTIFY">Americomm does not at this time expect any significant change in the
number of its employees during the next twelve months. If Americomm is successful in
raising additional capital, it will employ part-time or temporary persons and consultants
in situations where special expertise is required.</p>

<p ALIGN="JUSTIFY">PART II. OTHER INFORMATION</p>

<p ALIGN="JUSTIFY">Item 2. CHANGES IN SECURITIES</p>

<p ALIGN="JUSTIFY">Recent Sales of Unregistered Securities</p>

<p ALIGN="JUSTIFY">On June 29, 2001, Americomm issued 7,492,351 shares of Common Stock in
conjunction with the acquisition of Empire Petroleum Corporation.</p>

<p ALIGN="JUSTIFY">During March 2001, as described elsewhere herein, the Registrant issued
748,319 shares of common stock to the Albert E. Whitehead Living Trust upon conversion by
such trust of a convertible promissory note due March 15, 2001. The convertible promissory
note had an outstanding balance of principal and accrued interest of $327,015.63 and was
convertible at the rate of $0.4370 per share of common stock, which represents the market
price of the common stock on the date this convertible promissory note was issued.</p>

<p ALIGN="JUSTIFY">During January 2001 in connection with the Farmout Agreement relating
to its Cheyenne River Prospect, the Registrant sold to Empire Petroleum Corporation
375,000 shares of Common Stock for $0.40 per share for a total purchase price of $150,000.</p>

<p ALIGN="JUSTIFY">All of such shares were issued in reliance on the exemption from
registration afforded by Section 4(2) of the Securities Act of 1933, as amended. Among the
facts supporting </p>

<p ALIGN="center">9</p>

<p ALIGN="JUSTIFY">the Registrant's reliance on such exemption are that the shares were
issued to a small number of sophisticated purchasers and that the purchasers acquired the
shares for their own accounts and without intention of distributing or reselling the
shares except in compliance with applicable securities laws. The shares bear appropriate
restrictive legends.</p>

<p ALIGN="JUSTIFY">Item 5. Other information</p>

<p ALIGN="JUSTIFY">On July 20, 2001 the Board of Directors approved the merger of
Americomm with its wholly owned subsidiary Empire Petroleum Corporation and the
simultaneous change in the name of Americomm to Empire Petroleum Corporation. Both the
merger and name change are effective August 15, 2001. </p>

<p ALIGN="JUSTIFY">Item 6. Exhibits and Reports on Form 8-K</p>

<blockquote>
  <blockquote>
    <blockquote>
      <p ALIGN="JUSTIFY">Exhibits - none</p>
    </blockquote>
    <blockquote>
      <p ALIGN="JUSTIFY">Reports on Form 8-K. </p>
      <p ALIGN="JUSTIFY">A form 8-K was filed June 30, 2001 regarding the acquisition of Empire
      Petroleum Corporation. An amended form 8-K regarding the acquisition of Empire Petroleum
      Corporation was filed July 23, 2001.</p>
      <p ALIGN="center">10</p>
      <p ALIGN="JUSTIFY">&nbsp;</p>
    </blockquote>
  </blockquote>
</blockquote>

<p ALIGN="CENTER">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="CENTER">SIGNATURES</p>

<p ALIGN="JUSTIFY">In accordance with the requirements of the Securities Exchange Act of
1934, the Registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</p>

<p ALIGN="JUSTIFY">AMERICOMM RESOURCES CORPORATION</p>

<p ALIGN="JUSTIFY">Date: August 24, 2001
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By: /s/ Thomas J. Jacobsen</p>

<blockquote>
  <blockquote>
    <blockquote>
      <blockquote>
        <blockquote>
          <blockquote>
            <p ALIGN="JUSTIFY">Thomas J. Jacobsen</p>
          </blockquote>
        </blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
</blockquote>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
President &amp; Chief Operating Officer</p>

<p align="center">11</p>
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