UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D. C. 20549

                                   FORM 12b-25

                        Commission File Number 0-14731
                                               -------

                           NOTIFICATION OF LATE FILING

(CHECK ONE):[ ]Form 10-KSB []Form 20-F []Form 11-K [x]Form 10-QSB []Form N-SAR

For Period Ended: March 31, 2003
[_] Transition Report on Form 10-KSB
[_] Transition Report on Form 20-F
[_] Transition Report on Form 11-K
[_] Transition Report on Form 10-QSB
[_] Transition Report on Form N-SAR
For the Transition Period Ended: _________________________

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:  NA

PART I -- REGISTRANT INFORMATION

                           HALLADOR PETROLEUM COMPANY
                        1660 Lincoln Street, Suite 2700
                                Denver, CO 80264

PART II -- RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate) [X]

(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;

(b) The subject annual report, semi-annual report, transition report on Form
10-KSB, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on or
before the fifteenth calendar day following the prescribed due date; or the
subject quarterly report of transition report on Form 10-QSB, or portion thereof
will be filed on or before the fifth calendar day following the prescribed due
date; and

(c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.

PART III-- NARRATIVE

State below in reasonable detail the reasons why Forms 10-KSB, 20-F, 11-K,
10-QSB, N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period.

In order to give our auditors adequate time, without undue constraints, to
complete their review of our financial statements, we have decided to file an
extension for this Form 10-QSB.  We expect to file the Form 10-QSB on or before
Tuesday, May 20, 2003.

PART IV-- OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this
notification.

 Victor P. Stabio                      303                      839-5504
- ------------------                  ----------             -----------------
     (Name)                         (Area Code)            (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such report(s) been filed? If answer is no,
identify report(s). [X] Yes [_] No

(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?
[x] Yes [ ] No

If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.

We expect a profit of about $350,000 for the quarter ended March 31, 2003.
We had a loss of $301,000 for the quarter ended March 31, 2002.

Hallador Petroleum Company has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.

Date: May 15, 2003                      By: /S/Victor P. Stabio
                                               Chief Executive Officer