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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 FQ4MMhhktJRkjXFOEW3A3nf0CHGpxvi9DHMQDaB+Hj4lAubG1rZZMF40S6HMdgAq
 BDpQXsONtLgSBuzplXT/mA==

<SEC-DOCUMENT>0001181431-04-009410.txt : 20040213
<SEC-HEADER>0001181431-04-009410.hdr.sgml : 20040213
<ACCEPTANCE-DATETIME>20040213175935
ACCESSION NUMBER:		0001181431-04-009410
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:			PANCHY ERIC G
		CENTRAL INDEX KEY:			0001271444

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12640
		FILM NUMBER:		04601187

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>rrd32081.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>0</form4TransactionsReported>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001271444</rptOwnerCik>
            <rptOwnerName>PANCHY ERIC G</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>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Option Grant</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>6.845</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2001-09-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>20000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.8450</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-09-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-08-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>60200</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This Form 5 amends the Form 3 filed on December 1, 2003 for Mr. Panchy. This amendment reflects that Mr. Pancy acquired option rights to acquire 20,000 shares of common stock on September 1, 2001. This grant increases Mr. Panchy's stock option grants to a total of  50,000 shares. The original Form 3 reflected only a stock option grant of 30,000 shares on September 16, 2003. In addition to the Stock Options, Mr. Panchy owns 10,200 shares of common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Richard S. Davis, Chief Accounting Officer with Limited Power of Attorney for filing Forms 3, 4 and 5 for Mr. Panchy</signatureName>
        <signatureDate>2004-02-13</signatureDate>
    </ownerSignature>
</ownershipDocument>

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