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 earliest event reported): October 30, 1996

                    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)


                                      -1-


Item 5.  Other Events

Mallon Resources Corporation (the "Company") issued a press 
release, dated October 30, 1996, the text of which was as 
follows:

Mallon Oil Company, a unit of Mallon Resources Corporation 
(Nasdaq: "MLRC"), today announced that the underwriters, Rodman & 
Renshaw, Inc., of its recent public sale of 2,000,000 shares of 
Common Stock have exercised their option to acquire an additional 
300,000 shares from the Company to cover over-allotments.

The approximately $1.76 million of net proceeds from the exercise 
of the over-allotment option will be used primarily to finance 
the Company's oil and gas drilling activities.

Mallon is headquartered in Denver, Colorado.  Mallon's oil and 
gas operations, located primarily in the western United States, 
are conducted by its wholly-owned subsidiary, Mallon Oil Company.  
Mallon also owns 14 million shares of the common stock of Laguna 
Gold Company, a company engaged in the exploration for and 
development of gold and silver in Costa Rica.  Laguna Gold 
Company is traded on The Toronto Stock Exchange under the symbol 
"LGC."

                             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


October 31, 1996        ___/s/ Roy K. Ross_______________
                        Roy K. Ross, Executive Vice President
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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 earliest event reported): October 30, 1996

                    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)

                                      -1-

Item 5.  Other Events

Mallon Resources Corporation (the "Company") issued a press 
release, dated October 30, 1996, the text of which was as 
follows:

Mallon Oil Company, a unit of Mallon Resources Corporation 
(Nasdaq: "MLRC"), today announced that the underwriters, Rodman & 
Renshaw, Inc., of its recent public sale of 2,000,000 shares of 
Common Stock have exercised their option to acquire an additional 
300,000 shares from the Company to cover over-allotments.

The approximately $1.76 million of net proceeds from the exercise 
of the over-allotment option will be used primarily to finance 
the Company's oil and gas drilling activities.

Mallon is headquartered in Denver, Colorado.  Mallon's oil and 
gas operations, located primarily in the western United States, 
are conducted by its wholly-owned subsidiary, Mallon Oil Company.  
Mallon also owns 14 million shares of the common stock of Laguna 
Gold Company, a company engaged in the exploration for and 
development of gold and silver in Costa Rica.  Laguna Gold 
Company is traded on The Toronto Stock Exchange under the symbol 
"LGC."

                             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

October 31, 1996        ___/s/ Roy K. Ross_______________
                        Roy K. Ross, Executive Vice President