-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 TvZKDUohvvfFoRgjOPGj8A==

<SEC-DOCUMENT>0001090002-04-000082.txt : 20040325
<SEC-HEADER>0001090002-04-000082.hdr.sgml : 20040325
<ACCEPTANCE-DATETIME>20040325151032
ACCESSION NUMBER:		0001090002-04-000082
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031201
FILED AS OF DATE:		20040325

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPCO ENERGY INC
		CENTRAL INDEX KEY:			0000354767
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				840846529
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1401 BLAKE STREET
		STREET 2:		SUITE 200
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		3035721135

	MAIL ADDRESS:	
		STREET 1:		1401 BLAKE STREET
		STREET 2:		SUITE 200
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALFA RESOURCES INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MYERS J MICHAEL
		CENTRAL INDEX KEY:			0001273963

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10157
		FILM NUMBER:		04689623

	BUSINESS ADDRESS:	
		STREET 1:		C/O CAPCO OFFSHORE INC
		STREET 2:		4800 SUGAR GROVE BLVD #601
		CITY:			STAFFORD
		STATE:			TX
		ZIP:			77477
		BUSINESS PHONE:		2815657515

	MAIL ADDRESS:	
		STREET 1:		C/O CAPCO OFFSHORE INC
		STREET 2:		4800 SUGAR GROVE BLVD #601
		CITY:			STAFFORD
		STATE:			TX
		ZIP:			77477
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2003-12-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000354767</issuerCik>
        <issuerName>CAPCO ENERGY INC</issuerName>
        <issuerTradingSymbol>CPEG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001273963</rptOwnerCik>
            <rptOwnerName>MYERS J MICHAEL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4800 SUGAR GROVE BLVD</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 601</rptOwnerStreet2>
            <rptOwnerCity>STAFFORD</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77477</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3000000</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.5</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-11-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1000000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2003-11-30</value>
            </exerciseDate>
            <expirationDate>
                <value>2008-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1000000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 2,000,000 shares beneficially owned through Stock Options.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ J. Michael Myers</signatureName>
        <signatureDate>2004-03-24</signatureDate>
    </ownerSignature>
</ownershipDocument>

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