10QSB/A

U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

FORM 10-QSB/A

[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

     For the quarterly period ended June 30, 1996

OR

[X]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
     EXCHANGE ACT

     For the transition period from _____ to _____

Commission File No. 0-21702

     MIDDLE BAY OIL COMPANY, INC.
(Exact name of small business issuer as specified in its charter)

             Alabama                          63-1081013
  (State or Other Jurisdiction             (I.R.S. Employer
of Incorporation or Organization)          Identification No.)

     115 South Dearborn Street
     Mobile, Alabama 36602
(Address of Principal Executive Offices)

     (334) 432-7540
(Issuer's Telephone Number)

     N/A
(Former Name, Former Address and Former Fiscal Year,
 If Changed Since Last Report)

Check whether the issuer (1) filed all reports required to be filed
by Section 13 or 15(d) of Exchange Act during the preceding 12
months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes [X]  No [ ]

Number of shares outstanding of each of the Registrant's classes
of common stock, as of the latest practicable date:

     Common stock, $.02 par value
     1,318,917 shares as of July 31, 1996
Transitional Small Business Disclosure Format (check one)
    Yes [ ]   No [X]

EX-27

 

<ARTICLE>                 5
<LEGEND>
This Schedule contains summary financial information extracted from the 
Financial Statements - Balance Sheets at June 30, 1996 (unaudited) and the 
Statements of Operations at June 30, 1996 (unaudited) and is qualified in its 
entirety by reference to such financial statements.


       
                                                
<PERIOD-TYPE>                 3-MOS                   6-MOS
<FISCAL-YEAR-END>             DEC-31-1995             DEC-31-1995
<PERIOD-END>                  MAR-31-1996             JUN-30-1996
<CASH>                            60,828                 493,222
<SECURITIES>                           0                       0
<RECEIVABLES>                    714,314                 783,258
<ALLOWANCES>                           0                       0
<INVENTORY>                            0                       0
<CURRENT-ASSETS>                 783,871               1,282,932
<PP&E>                        11,907,545              12,329,198
<DEPRECIATION>                 4,240,380               4,412,648
<TOTAL-ASSETS>                 8,590,891               9,339,647
<CURRENT-LIABILITIES>          1,159,387                 520,459
<BONDS>                        3,992,578               5,064,226
<PREFERRED-MANDATORY>            852,642                 677,965
<PREFERRED>                            0                       0
<COMMON>                          26,378                  26,378
<OTHER-SE>                     3,241,040               3,415,717
<TOTAL-LIABILITY-AND-EQUITY>   8,590,891               9,339,647
<SALES>                        1,019,307               1,101,645
<TOTAL-REVENUES>               1,049,629               1,409,629
<CGS>                            673,613                 637,587
<TOTAL-COSTS>                    965,058               1,025,554
<OTHER-EXPENSES>                 171,271                 169,616
<LOSS-PROVISION>                       0                       0
<INTEREST-EXPENSE>               120,174                 126,816
<INCOME-PRETAX>                   84,572                 384,075
<INCOME-TAX>                           0                       0
<INCOME-CONTINUING>               84,572                 384,075
<DISCONTINUED>                         0                       0
<EXTRAORDINARY>                        0                       0
<CHANGES>                              0                       0
<NET-INCOME>                      84,572                 384,075
<EPS-PRIMARY>                        .06                     .29
<EPS-DILUTED>                        .06                     .29