SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* FLORENCE RUSSELL V (Last) (First) (Middle) 96 NORTH KAYS DRIVE (Street) KAYSVILLE UT 84037 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol EQUITY OIL CO [ EQTY ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) CFO/Secretary
	3. Date of Earliest Transaction (Month/Day/Year) 07/20/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/20/2004		D		3,835	D	(1)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$3.625	07/20/2004		D			3,500	(2)	02/22/2005	Common Stock	3,500	$4.7249(3)	0	D
Stock Option (right to buy)	$5.125	07/20/2004		D			13,000	(4)	01/25/2006	Common Stock	13,000	$0(5)	0	D
Stock Option (right to buy)	$3.563	07/20/2004		D			7,000	(6)	02/05/2007	Common Stock	7,000	$4.7249(3)	0	D
Stock Option (right to buy)	$2.5	07/20/2004		D			7,000	(7)	01/26/2008	Common Stock	7,000	$4.7249(3)	0	D
Stock Option (right to buy)	$1.0625	07/20/2004		D			13,600	(8)	04/01/2009	Common Stock	13,600	$4.7249(3)	0	D
Stock Option (right to buy)	$1.5	07/20/2004		D			8,000	(9)	02/09/2010	Common Stock	8,000	$4.7249(3)	0	D
Stock Option (right to buy)	$3.625	07/20/2004		D			12,000	(10)	01/31/2011	Common Stock	12,000	$4.7249(3)	0	D
Stock Option (right to buy)	$1.87	07/20/2004		D			35,000	(11)	01/31/2012	Common Stock	35,000	$4.7249(3)	0	D
Stock Option (right to buy)	$2.36	07/20/2004		D			25,000	(12)	05/29/2013	Common Stock	25,000	$4.7249(3)	0	D

Explanation of Responses:

1. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation in exchange for shares of Whiting Petroleum Corporation at the merger exchange ratio of 0.185, and cash in lieu of fractional shares.

2. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option became exercisable in 20% annual increments from February 22, 1996 to February 22, 2000.

3. Equals the difference between the exercise price of the option and the average closing price for Whiting Petroleum Corporation's common stock on the New York Stock Exchange for the five business days ending on the business day immediately prior to the closing date (7/20/04) of the merger multiplied by 0.185 (the merger exchange ratio).

4. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option became became exercisable in 20% annual increments from January 25, 1997 to January 25, 2001.

5. This option was cancelled in the merger without any cash payment as the exercise price of the option was greater than the merger consideration.

6. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option became became exercisable in 20% annual increments from February 5, 1998 to February 5, 2002.

7. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option became exercisable in 20% annual increments from January 26, 1999 to January 26, 2003.

8. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option became exercisable in 20% annual increments from April 1, 2000 through April 1, 2004.

9. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option originally became exercisable in 20% annual increments from February 9, 2001 to February 9, 2005 but became vested in full upon the closing of the merger.

10. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option originally became exercisable in 20% annual increments from January 31, 2002 to January 31, 2006 but became vested in full upon the closing of the merger.

11. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option originally became exercisable in 20% annual increments from January 31, 2003 to January 31, 2007 but became vested in full upon the closing of the merger.

12. Disposed of in the merger of Equity Oil Co. and Whiting Petroleum Corporation. The option originally became exercisable in 20% annual increments from May 29, 2004 to May 29, 2008 but became vested in full upon the closing of the merger.

Remarks:

	Russell V. Florence	07/22/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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