U. S. SECURITIES AND EXCHANGE COMMISSION

                                WASHINGTON, D. C.

                                    FORM 8-K

                                 CURRENT REPORT




                     Pursuant to Section 13 or 15 (d) of the
                             Securities Act of 1934


                                February 15, 2000
           ----------------------------------------------------------
                Date of Report (date of earliest event reported)




                               Capco Energy, Inc.
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              Exact Name of Registrant as Specified in its Charter




         Colorado                     0-10157                84-0846529
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State or Other Jurisdiction       Commission File           IRS Employer
of Incorporation                      Number            Identification Number



                       2922 East Chapman Avenue, Suite 202
                            Orange, California 92869
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            Address of Principal Executive Office, Including Zip Code


                                 (714) 288-8230
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               Registrant's Telephone Number, including Area Code






ITEM 5.  OTHER EVENTS.

         On February 9, 2000,  Registrant  completed the purchase of 100% of the
capital stock of Meteor Stores, Inc. ("MSI"), a subsidiary of Meteor Industries,
Inc. ("Meteor") through Registrant's  majority owned subsidiary,  Capco Resource
Corporation ("Capco").  The sale was made effective as of December 31, 1999.

         MSI leases and operates twenty  convenience  stores (three of which are
third party leases that expire at the end of February  2000) in Colorado and New
Mexico that  operate  under the Conoco,  Phillips  66,  Frontier,  Sinclair  and
Diamond Shamrock brand names. The sale of this operating  subsidiary was made to
allow Meteor to focus on its core business of commercial, wholesale and cardlock
petroleum  distribution.  Meteor,  through  a  five-year  supply  contract  with
Registrant,  will continue to be the supplier of refined  petroleum  products to
these stores.

         The total purchase  price for the sale of MSI is  $1,596,400.  Year-end
adjustments  are  expected  to  decrease  the  purchase  price by  approximately
$100,000.  Two Hundred  Fifty  Thousand  dollars was paid in cash at closing and
Capco  also  delivered  a  promissory  note for  $1,250,000  payable  in monthly
installments  of  interest  only  during  calendar  year  2000  and the  balance
amortized  over  a 10  year  period  with a  balloon  payment  of the  remaining
principal  balance on December 31, 2001.  Payments may be made either in cash or
shares  of the  Meteor's  Common  Stock  at a value  of  $3.00  per  share.  The
promissory  note bears  interest  at 9.25% per  annum.  The  promissory  note is
secured by the pledge of all of the  outstanding  shares of Meteor Stores,  Inc.
and  210,000  shares  of  the  Meteor's  outstanding  Common  Stock  held  by  a
majority-owned subsidiary of Registrant.

          Registrant,  through  a  majority-owned  subsidiary,   currently  owns
approximately  34% of Meteor's  Common  Stock.  Ilyas  Chaudhary,  a Director of
Meteor,  is an officer,  director  and a principal  shareholder  of  Registrant.
Dennis  Staal,  a Director  of Meteor,  is also an  officer  of  Registrant  and
beneficially  owns 35,000 common shares of Registrant and 2,286 shares of Series
A Preferred shares.  Irwin Kaufman,  a Director of Meteor, is also a director of
Registrant and owns 20,000 common shares of Registrant.  Edward Names, President
and CEO of Meteor  personally and through immediate family members may be deemed
to  beneficially  own 64,580  common  shares of  Registrant  and 2,286 shares of
series A preferred shares of Registrant.


                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.


                                              CAPCO ENERGY, INC.


Dated:  February 18, 2000                     By:/s/ Ilyas Chaudhary
                                              ----------------------
                                              Ilyas Chaudhary
                                              President