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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 GlDWMeC4VBZHRxbIJ3LwYUDWcI5sIXsOU/EPwb4vaAmV/RDKqiDAh7uk9KqgnfGf
 bUVn0JQtIOfmyzrU16y8+w==

<SEC-DOCUMENT>0001181431-04-009407.txt : 20040213
<SEC-HEADER>0001181431-04-009407.hdr.sgml : 20040213
<ACCEPTANCE-DATETIME>20040213175840
ACCESSION NUMBER:		0001181431-04-009407
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040213

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KIMBALL C FRAYER III
		CENTRAL INDEX KEY:			0001265641

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12640
		FILM NUMBER:		04601174

	BUSINESS ADDRESS:	
		STREET 1:		WISER OIL CO
		STREET 2:		8115 PRESTON ROAD SUITE 400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225
		BUSINESS PHONE:		2142650080

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WISER OIL CO
		CENTRAL INDEX KEY:			0000107874
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				550522128
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8115 PRESTON RD
		STREET 2:		SUITE 400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225
		BUSINESS PHONE:		2143603571

	MAIL ADDRESS:	
		STREET 1:		8115 PRESTON ROAD
		STREET 2:		SUITE 400
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75225
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>rrd32640.xml
<DESCRIPTION>FORM 5
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0000107874</issuerCik>
        <issuerName>WISER OIL CO</issuerName>
        <issuerTradingSymbol>WZR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001265641</rptOwnerCik>
            <rptOwnerName>KIMBALL C FRAYER III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>8115 PRESTON ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 400</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75225</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.735</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-12-09</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.735</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-12-09</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-12-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20333</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 7878 shares of Common Stock owned by Mr. Frayer and 455 Shares owned by his wife</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Richard S. Davis, Chief Accounting Officer with Limited Power of Attorney for Filing Forms 3, 4 and 5 for C. Frayer Kimball III</signatureName>
        <signatureDate>2004-02-13</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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