DOUBLE RIVER OIL & GAS CO
8-K, 1997-04-04
DRILLING OIL & GAS WELLS
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                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                    Form 8-K


                                 CURRENT REPORT

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



                                 March 17, 1997                          
  -------------------------------------------------------------------------- 
                Date of Report (Date of earliest event reported)



                           Double River Oil & Gas Co.                  
  -------------------------------------------------------------------------
                  (Exact name of registrant as specified in its charter)



     Texas                            2-71175               75-1729359
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  (State or other jurisdiction    (Commission File      (IRS Employer
   of incorporation)               Number)               Identification No.)
                 


                  9319 LBJ Frwy., Suite 205 Dallas, Texas 75243
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                    (Address of principal executive offices)



                              (972) 644-2581
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                Registrant's telephone number, including are code



  --------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)




                                       1
<PAGE>




                           Double River Oil & Gas Co.
                                    Form 8-K



Item 4.  Changes in Registrant's Certifying Accountant.

         (a)      The  Board of  Directors  of Double  River  Oil & Gas Co.  has
                  engaged  the   accounting   firm  of  Ernst  &  Young  LLP  as
                  independent  accountants  for the  Registrant  since 1994.  By
                  letter  dated March 13,  1997,  Ernst & Young LLP  resigned as
                  independent  auditors for the company  because of unpaid audit
                  fees for the prior year ended  December 31, 1995.  The company
                  does not  currently  have  sufficient  cash  funds to pay such
                  fees. There is no dispute as to the amount owed.

         (b)      During the two most recent  fiscal  years and  interim  period
                  subsequent   to  December   31,   1995,   there  has  been  no
                  disagreements  with  Ernst  &  Young  LLP  on  any  matter  of
                  accounting   principles  or  practices,   financial  statement
                  disclosures,  or auditing scope or procedure or any reportable
                  events.

         (c)      Report on the  financial  statements  for the two years  ended
                  December 31, 1995  contained no adverse  opinion or disclaimer
                  of  opinion   and  was  not   qualified   or  modified  as  to
                  uncertainty, audit scope, or accounting principles.

         (d)      The Registrant has requested that Ernst & Young LLP furnish it
                  with a letter  addressed to the SEC stating  whether it agrees
                  with  the  above  statements.  A copy of  Ernst & Young  LLP's
                  letter to the SEC dated March 24, 1997, is filed as Exhibit 16
                  to the form 8-K.




                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
Registrant has duly caused this report to be signed by the undersigned thereunto
duly authorized.

                                              DOUBLE RIVER OIL & GAS CO.

Dated:   March 24, 1997

                                              By:/s/ Paul E. Cash
                                                 -------------------
                                                 Paul E. Cash
                                                 Vice President




                                       2
<PAGE>



                                                           EXHIBIT 16




March 24, 1997

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549

Gentlemen:

We have read Item 4 of Form 8-K dated March 24, 1997,  of Double River Oil & Gas
Co. and are in agreement  with the  statements  contained in the 4 paragraphs on
the page therein. We have no basis to agree or disagree with other statements of
the registrant contained therein.




                                                     Ernst & Young LLP




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