SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549

                                  Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities Act of 1934

Date of Report (date of earliest event reported):  May 14, 1998

Mallon Resources Corporation
(exact name of registrant as specified in its charter)

     Colorado                0-17267              84-1095959
(State or other            (Commission         (I.R.S. Employer
jurisdiction                File Number)       Identification No.)
of incorporation)

999 18th Street, Suite 1700, Denver, Colorado        80202
(address of principal executive offices)            (zip code)

Registrant's telephone number, including area code:  (303) 293-2333

not applicable
(former name or former address, if changed since last report)


Item 5.  Other Events

Mallon Resources Corporation (the "Company") issued the following 
press releases; the text of each follows:

    Denver, Colorado - May 14, 1998 -- Mallon Resources Corporation 
(Nasdaq:  "MLRC") today reported that in first quarter 1998 its 
production, revenues and cash flow were all at all-time highs.  
Average daily production for first quarter 1998 was 2,767 BOE, a 
29% increase over fourth quarter 1997's average daily production of 
2,152 BOE and a 136% increase over first quarter 1997's average 
daily production of 1,172 BOE.  During first quarter 1998, Mallon 
drilled and completed 15 wells and recompleted 6 wells, compared to 
a total during first quarter 1997 of 7 wells drilled and 4 wells 
recompleted.  Mallon currently has a $25.3 million capital budget 
for 1998, and plans to drill and recomplete more than 60 wells 
during the year.

    Mallon reported net income for first quarter 1998 of $44,000 on 
revenues of $3,069,000, compared to a net loss for first quarter 
1997 of $230,000 on revenues of $1,997,000.  The net income 
attributable to common shareholders for first quarter 1998 was 
$14,000 ($0.00 per diluted share) compared to a net loss 
attributable to common shareholders for first quarter 1997 of 
$325,000 (loss of $0.07 per diluted share).  Total revenues for 
first quarter 1998 were up by $293,000 (11%) over fourth quarter 
1997 and by $1,097,000 (56%) over first quarter 1997.  The average 
oil price realized per barrel for first quarter 1998 was $14.26, a 
19% decrease from the fourth quarter 1997 average of $17.60, and a 
37% decrease from the first quarter 1997 average of $22.59.  The 
average gas price realized per Mcf for first quarter 1998 was 
$1.93, a 6% decrease from the fourth quarter 1997 average of $2.05, 
and a 30% decrease from the first quarter 1997 average of $2.76.  
Operating cash flow for first quarter 1998 was $1,318,000, up 23% 
from $1,070,000 for fourth quarter 1997, and up 122% from $593,000 
for first quarter 1997.

    George Mallon, Chairman, said, "While we are very pleased by 
these record results, we had hoped to do even better.  At our East 
Blanco Gas Project, wells are either shut-in or on restricted 
production, awaiting the expansion of our gas plant, which is 
expected to be completed toward the end of the second quarter.  
First quarter earnings and cash flow were adversely affected by 
higher than budgeted operating costs due to approximately $170,000 
of waste water treatment and hauling expenditures.  In late April, 
we completed a water disposal injection well.  Earnings and cash 
flow were also reduced by the depressed oil and gas prices that 
prevailed during the quarter."

    The preceding information contains forward-looking statements, 
the realization of which cannot be assured.  Actual results may 
differ significantly from those forecast.  The Company and its 
operations are subject to numerous risks and uncertainties.  Among 
these are risks related to the oil and gas business generally 
(including operating risks and hazards and the regulations imposed 
thereon), risks and uncertainties related to the volatility of the 
prices of oil and gas, uncertainties related to the estimation of 
reserves of oil and gas and the value of such reserves, 
uncertainties relating to geologic models and evaluations, the 
effects of competition and extensive environmental regulation, and 
other factors, many of which are necessarily beyond the Company's 
control.  These and other risk factors that affect the Company's 
business are discussed in the Company's 1997 Annual Report.

SELECTED FINANCIAL AND OPERATING DATA
(In thousands, except per unit data)

<TABLE>
<CAPTION>
                                               For the Three Months
                                               Ended March 31,
                                               1998    1997
                                               (Unaudited)
<S>                                            <C>       <C>
Selected Results
   Revenues                                    $3,125    $1,997 
   Costs and expenses                           3,081     2,060 
   Net income (loss)                               44      (230)
   Net income (loss) attributable to 
     common shareholders                           14      (325)
   Basic net income (loss) per share 
     attributable to common shareholders         0.00     (0.07)
   Diluted net income (loss) per share 
     attributable to common shareholders         0.00     (0.07)
   EBITDA (A)                                   1,306       495 
   EBITDA per basic share                        0.19      0.11 
   EBITDA per diluted share                      0.18      0.11 
   Cash flow (B)                                1,318       593 
   Cash flow per basic share                     0.19      0.14 
   Cash flow per diluted share                   0.19      0.14 

   Basic weighted average shares outstanding    6,996     4,386 
   Diluted weighted average shares outstanding  7,088     4,386 

Other Operating Data
   Net Production:
     Oil (MBbls)                                   68        37 
     Gas (MMcf)                                 1,086       411 
     MBOE                                         249       106 
     Mmcfe                                      1,494       633 
   Average realized sales price
     Oil ($/Bbl)                               $14.26    $22.59 
     Gas ($/Mcf)                                 1.93      2.76 
     BOE ($/BOE)                                12.33     18.60 
     Mcfe ($/Mcfe)                               2.05      3.12 
</TABLE>

(A)  EBITDA is earnings before income taxes, interest expense, 
depreciation, depletion and amortization, impairment, and 
extraordinary loss.

(B)  Cash flow from operating activities before working capital 
adjustments.

    Mallon Resources Corporation is a Denver, Colorado based oil 
and gas exploration and production company operating primarily in 
the San Juan and Delaware Basins of New Mexico.  Mallon's common 
stock is quoted on Nasdaq under the symbol "MLRC".

AND

    Denver, Colorado - May 20, 1998 -- Mallon Resources Corporation 
(Nasdaq:  "MLRC") today announced that it has entered into a 
Minerals Development Agreement with the Jicarilla Apache Tribe 
covering 39,360 acres of Tribal land in New Mexico.  The land, 
which is contiguous to Mallon's East Blanco Gas Field in Rio Arriba 
County, approximately triples the Company's net acreage holdings in 
the East Blanco area.  Mallon's geologic staff believes the new 
acreage covers an estimated 12-mile extension of the  Ojo Alamo gas 
sands that are productive in East Blanco.  The new acreage, when 
coupled with Mallon's original acreage, covers the entire known and 
projected reservoir. 

    Under the Minerals Development Agreement, Mallon is designated 
as operator of the acreage and owns 100% of the working interest.  
The Jicarilla Tribe retains a 20% royalty until payout.  
Thereafter, the Tribe's royalty will increase to 22.5%.  As a part 
of the Agreement, Mallon will pay a signing bonus of $590,400.

    Since August 1997, the Company has placed on production or 
tested 36 Ojo Alamo wells at East Blanco.  A typical Ojo Alamo well 
costs approximately $300,000 to drill and complete, has an initial 
production rate of approximately 1.4 million cubic feet per day, 
and has estimated gross recoverable reserves of approximately 2.1 
Bcf.  The gas is slightly sour and contains an average of 
approximately 1,100 mmbtu per mcf.  Mallon's East Blanco gas 
sweetening plant has a capacity of 14.5 million cubic feet per day.  
A plant expansion under construction will increase the Company's 
total gas processing capacity at East Blanco to 50 million cubic 
feet per day by the end of June 1998.  This expansion will allow 
wells that are currently shut-in or restricted to be placed on 
production and will justify acceleration of the Company's 
development drilling program.  Mallon has in excess of 50 
prospective Ojo Alamo locations on its original acreage that have 
yet to be drilled, and expects the new acreage to substantially 
increase its inventory of drill sites.  George Mallon, Chairman of 
the Company, commented, "If our geologic assumptions prove correct, 
this additional acreage could fuel our development drilling program 
well into the next century."

    Kevin Fitzgerald, President of Mallon Oil Company, said, "The 
signing of this Agreement is exciting, as it covers acreage that 
directly offsets our best Ojo Alamo well.  In order to test the 
projected Ojo Alamo extension, we intend to drill 8 test wells on 
the new acreage within the next 12 months."  Mr. Fitzgerald noted 
that all wells will be drilled deep enough to allow for future 
production testing of the Pictured Cliffs and Fruitland Coal 
Formations, which are productive in the area.

    The foregoing information contains forward-looking statements 
and forecasts, the realization of which cannot be assured.  Actual 
results may differ significantly from those forecast.  Inaccurate 
geologic interpretations, the volatility of commodity prices, 
unbudgeted cost increases, unforeseen delays in operations, and 
operations that prove less successful than anticipated are risks 
that can significantly effect the Company's operations.  These and 
other risk factors that effect the Company's business are discussed 
in the Company's Annual Report.

    Mallon Resources Corporation is a Denver, Colorado, based oil 
and gas exploration and production company operating primarily in 
the San Juan and Delaware Basins of New Mexico.  Mallon's Common 
Stock is quoted on Nasdaq under the symbol "MLRC".


                        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.

                        Mallon Resources Corporation


March 22, 1998          By: _/s/ Roy K. Ross_________________
                             Roy K. Ross, Executive Vice President
[{"type": "8-K", "sequence": "1", "secsgml_size_bytes": 11019}]
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SECURITIES AND EXCHANGE COMMISSION
                          Washington, D. C.  20549

                                  Form 8-K
Current Report Pursuant to Section 13 or 15(d) of The Securities Act of 1934

Date of Report (date of earliest event reported):  May 14, 1998

Mallon Resources Corporation
(exact name of registrant as specified in its charter)

     Colorado                0-17267              84-1095959
(State or other            (Commission         (I.R.S. Employer
jurisdiction                File Number)       Identification No.)
of incorporation)

999 18th Street, Suite 1700, Denver, Colorado        80202
(address of principal executive offices)            (zip code)

Registrant's telephone number, including area code:  (303) 293-2333

not applicable
(former name or former address, if changed since last report)

Item 5.  Other Events

Mallon Resources Corporation (the "Company") issued the following 
press releases; the text of each follows:

    Denver, Colorado - May 14, 1998 -- Mallon Resources Corporation 
(Nasdaq:  "MLRC") today reported that in first quarter 1998 its 
production, revenues and cash flow were all at all-time highs.  
Average daily production for first quarter 1998 was 2,767 BOE, a 
29% increase over fourth quarter 1997's average daily production of 
2,152 BOE and a 136% increase over first quarter 1997's average 
daily production of 1,172 BOE.  During first quarter 1998, Mallon 
drilled and completed 15 wells and recompleted 6 wells, compared to 
a total during first quarter 1997 of 7 wells drilled and 4 wells 
recompleted.  Mallon currently has a $25.3 million capital budget 
for 1998, and plans to drill and recomplete more than 60 wells 
during the year.

    Mallon reported net income for first quarter 1998 of $44,000 on 
revenues of $3,069,000, compared to a net loss for first quarter 
1997 of $230,000 on revenues of $1,997,000.  The net income 
attributable to common shareholders for first quarter 1998 was 
$14,000 ($0.00 per diluted share) compared to a net loss 
attributable to common shareholders for first quarter 1997 of 
$325,000 (loss of $0.07 per diluted share).  Total revenues for 
first quarter 1998 were up by $293,000 (11%) over fourth quarter 
1997 and by $1,097,000 (56%) over first quarter 1997.  The average 
oil price realized per barrel for first quarter 1998 was $14.26, a 
19% decrease from the fourth quarter 1997 average of $17.60, and a 
37% decrease from the first quarter 1997 average of $22.59.  The 
average gas price realized per Mcf for first quarter 1998 was 
$1.93, a 6% decrease from the fourth quarter 1997 average of $2.05, 
and a 30% decrease from the first quarter 1997 average of $2.76.  
Operating cash flow for first quarter 1998 was $1,318,000, up 23% 
from $1,070,000 for fourth quarter 1997, and up 122% from $593,000 
for first quarter 1997.

    George Mallon, Chairman, said, "While we are very pleased by 
these record results, we had hoped to do even better.  At our East 
Blanco Gas Project, wells are either shut-in or on restricted 
production, awaiting the expansion of our gas plant, which is 
expected to be completed toward the end of the second quarter.  
First quarter earnings and cash flow were adversely affected by 
higher than budgeted operating costs due to approximately $170,000 
of waste water treatment and hauling expenditures.  In late April, 
we completed a water disposal injection well.  Earnings and cash 
flow were also reduced by the depressed oil and gas prices that 
prevailed during the quarter."

    The preceding information contains forward-looking statements, 
the realization of which cannot be assured.  Actual results may 
differ significantly from those forecast.  The Company and its 
operations are subject to numerous risks and uncertainties.  Among 
these are risks related to the oil and gas business generally 
(including operating risks and hazards and the regulations imposed 
thereon), risks and uncertainties related to the volatility of the 
prices of oil and gas, uncertainties related to the estimation of 
reserves of oil and gas and the value of such reserves, 
uncertainties relating to geologic models and evaluations, the 
effects of competition and extensive environmental regulation, and 
other factors, many of which are necessarily beyond the Company's 
control.  These and other risk factors that affect the Company's 
business are discussed in the Company's 1997 Annual Report.

SELECTED FINANCIAL AND OPERATING DATA
(In thousands, except per unit data)
For the Three Months
                                               Ended March 31,
                                               1998    1997
                                               (Unaudited)
Selected Results
   Revenues                                    $3,125    $1,997 
   Costs and expenses                           3,081     2,060 
   Net income (loss)                               44      (230)
   Net income (loss) attributable to 
     common shareholders                           14      (325)
   Basic net income (loss) per share 
     attributable to common shareholders         0.00     (0.07)
   Diluted net income (loss) per share 
     attributable to common shareholders         0.00     (0.07)
   EBITDA (A)                                   1,306       495 
   EBITDA per basic share                        0.19      0.11 
   EBITDA per diluted share                      0.18      0.11 
   Cash flow (B)                                1,318       593 
   Cash flow per basic share                     0.19      0.14 
   Cash flow per diluted share                   0.19      0.14 

   Basic weighted average shares outstanding    6,996     4,386 
   Diluted weighted average shares outstanding  7,088     4,386 

Other Operating Data
   Net Production:
     Oil (MBbls)                                   68        37 
     Gas (MMcf)                                 1,086       411 
     MBOE                                         249       106 
     Mmcfe                                      1,494       633 
   Average realized sales price
     Oil ($/Bbl)                               $14.26    $22.59 
     Gas ($/Mcf)                                 1.93      2.76 
     BOE ($/BOE)                                12.33     18.60 
     Mcfe ($/Mcfe)                               2.05      3.12
(A)  EBITDA is earnings before income taxes, interest expense, 
depreciation, depletion and amortization, impairment, and 
extraordinary loss.

(B)  Cash flow from operating activities before working capital 
adjustments.

    Mallon Resources Corporation is a Denver, Colorado based oil 
and gas exploration and production company operating primarily in 
the San Juan and Delaware Basins of New Mexico.  Mallon's common 
stock is quoted on Nasdaq under the symbol "MLRC".

AND

    Denver, Colorado - May 20, 1998 -- Mallon Resources Corporation 
(Nasdaq:  "MLRC") today announced that it has entered into a 
Minerals Development Agreement with the Jicarilla Apache Tribe 
covering 39,360 acres of Tribal land in New Mexico.  The land, 
which is contiguous to Mallon's East Blanco Gas Field in Rio Arriba 
County, approximately triples the Company's net acreage holdings in 
the East Blanco area.  Mallon's geologic staff believes the new 
acreage covers an estimated 12-mile extension of the  Ojo Alamo gas 
sands that are productive in East Blanco.  The new acreage, when 
coupled with Mallon's original acreage, covers the entire known and 
projected reservoir. 

    Under the Minerals Development Agreement, Mallon is designated 
as operator of the acreage and owns 100% of the working interest.  
The Jicarilla Tribe retains a 20% royalty until payout.  
Thereafter, the Tribe's royalty will increase to 22.5%.  As a part 
of the Agreement, Mallon will pay a signing bonus of $590,400.

    Since August 1997, the Company has placed on production or 
tested 36 Ojo Alamo wells at East Blanco.  A typical Ojo Alamo well 
costs approximately $300,000 to drill and complete, has an initial 
production rate of approximately 1.4 million cubic feet per day, 
and has estimated gross recoverable reserves of approximately 2.1 
Bcf.  The gas is slightly sour and contains an average of 
approximately 1,100 mmbtu per mcf.  Mallon's East Blanco gas 
sweetening plant has a capacity of 14.5 million cubic feet per day.  
A plant expansion under construction will increase the Company's 
total gas processing capacity at East Blanco to 50 million cubic 
feet per day by the end of June 1998.  This expansion will allow 
wells that are currently shut-in or restricted to be placed on 
production and will justify acceleration of the Company's 
development drilling program.  Mallon has in excess of 50 
prospective Ojo Alamo locations on its original acreage that have 
yet to be drilled, and expects the new acreage to substantially 
increase its inventory of drill sites.  George Mallon, Chairman of 
the Company, commented, "If our geologic assumptions prove correct, 
this additional acreage could fuel our development drilling program 
well into the next century."

    Kevin Fitzgerald, President of Mallon Oil Company, said, "The 
signing of this Agreement is exciting, as it covers acreage that 
directly offsets our best Ojo Alamo well.  In order to test the 
projected Ojo Alamo extension, we intend to drill 8 test wells on 
the new acreage within the next 12 months."  Mr. Fitzgerald noted 
that all wells will be drilled deep enough to allow for future 
production testing of the Pictured Cliffs and Fruitland Coal 
Formations, which are productive in the area.

    The foregoing information contains forward-looking statements 
and forecasts, the realization of which cannot be assured.  Actual 
results may differ significantly from those forecast.  Inaccurate 
geologic interpretations, the volatility of commodity prices, 
unbudgeted cost increases, unforeseen delays in operations, and 
operations that prove less successful than anticipated are risks 
that can significantly effect the Company's operations.  These and 
other risk factors that effect the Company's business are discussed 
in the Company's Annual Report.

    Mallon Resources Corporation is a Denver, Colorado, based oil 
and gas exploration and production company operating primarily in 
the San Juan and Delaware Basins of New Mexico.  Mallon's Common 
Stock is quoted on Nasdaq under the symbol "MLRC".

                        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.

                        Mallon Resources Corporation

March 22, 1998          By: _/s/ Roy K. Ross_________________
                             Roy K. Ross, Executive Vice President