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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&#9;</FONT><FONT STYLE="font-size: 12pt"><B>FORM
8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;CURRENT REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;PURSUANT TO SECTION 13 OR 15(d) OF THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;SECURITIES EXCHANGE ACT OF 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date of report (Date of earliest event reported): <B>October 7,
2011</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="image_001.gif" ALT=""><B> <FONT STYLE="font-size: 18pt; color: blue">COLOMBIA
ENERGY RESOURCES, INC.</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&#9;(Exact Name of Registrant as Specified in Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">Delaware</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">000-32735</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">87-0567033</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">Commission File Number</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">(IRS Employer Identification No.)</TD></TR>
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    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline">One Embarcadero Center, Suite 500, San Francisco, CA</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-decoration: underline; text-align: center">94901</TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Registrant&rsquo;s telephone number, including area code<B>: (415)
460-1165</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD>Written communications pursuant to Rule 425 under the
Securities Act</TD></TR>
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    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD>
    <TD>Soliciting material pursuant to Rule 14a-12 under the
Exchange Act</TD></TR>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 1.01 &#9;Entry into a Material Definitive
Agreement.</B></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Boavita Project</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 7, 2011, our Colombian subsidiary
entered into an agreement (the &ldquo;Option Agreement&rdquo;) with Americana de Minerales de Exploracion S.A.S. (&ldquo;AMERALEX&rdquo;)
for the option to purchase all of the rights of AMERALEX in mining concession FFB-081 covering approximately 1,550 hectares (approximately
3,830 acres) located in the jurisdiction of the Municipalities of Boavita and La Uvita, Department of Boyac&aacute;, Republic of
Colombia (the &ldquo;Boavita Mining Concession&rdquo;). Once INGEOMINAS approves the mining plan, we have up to 24 months to conduct
exploration of the entire concession, evaluate and characterize the coal deposit, and exercise the option. The purchase price will
be determined based upon the determination of proven and probable reserves using standard methodology.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are obligated to pay a fixed amount
upon approval of the mining plan. We are also obligated to pay an additional amount nine months after the first payment. Upon completion
of the exploration work, and if we exercise the option to acquire the concession, we are obligated to pay a further amount. Beginning
30 months after the initial payment under the Agreement, we are obligated to make annual payments of an additional fixed amount;
however, the total aggregate purchase price will be limited to the final calculation of proven and probable reserves, not to exceed
a maximum aggregate agreed purchase price.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 27, 2011, we entered into
an operations agreement with AMERALEX which allows for the immediate start of mining operations on the Boavita Mining Concession
once INGEOMINAS, the Colombian state mining authority, approves the mining plan, which is expected to occur in February 2012. As
compensation to AMERALEX for this right, we paid a fixed amount on the date the agreement was entered into and have agreed to pay
an additional amount upon approval of the agreement by our company&rsquo;s board of directors. We have also agreed to pay AMERALEX
a royalty on monthly sales, a portion of which will be offset by the upfront payments. A press release announcing this agreement
is included as an exhibit with this report.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Herrera Project</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 2, 2012, our Colombian subsidiary
entered into a contract with Dairo Ruben Herrera Perez and Ariel Salcedo Leal in connection with the assignment of mining concession
contract FI7-081. The concession is adjacent to our Ruku Mining Complex which began production in December 2011 and is now producing
approximately 1,800 tons per month, and will result in more efficient access to Ruku&rsquo;s coal resources and ultimately, lower
operating costs and improved safety. The concession has 17 hectares (42 acres) and metallurgical coal resources similar in quality
to Ruku&rsquo;s. Its permit, FI7-081, is currently in the construction or preoperative phase. Compensation for the property includes
payments made at signing of the agreement and additional payments due upon governmental approval of the concession&rsquo;s transfer
to our Colombian subsidiary which we anticipate during the second quarter of 2012.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 2.01 &#9;Completion of Acquisition
or Disposition of Assets.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Otanche Project</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 26, 2011, we filed a report
on Form 8-K disclosing that we had entered into two contracts to acquire mining concessions which we designate as the Otanche Project.
Since entering into the agreements we have conducted exploration drilling and sought governmental approvals for the project. While
our drilling program continues, we received the last of the required approvals for and completed the acquisition of the concessions
on January 12, 2012.<FONT STYLE="color: black"> The acquisition of these concessions did not constitute a business acquisition.</FONT></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The first agreement between our Colombian subsidiary
and the owners of the mining concession, Luis Albeiro Florez and Omega Energy Colombia, was for mining concession contract FCF
&ndash; 142. Under the terms of the agreement, the sellers
will retain a royalty per metric ton produced from the mining concession beginning two years after the assignment of
the concession rights to our Colombian subsidiary, with a minimum royalty based upon 100,000 metric tons per year.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The second agreement between our Colombian
subsidiary and Jesus Hernando Zarate Pinilla was for two mining concession contracts designated as ECB &ndash; 121 and EAU &ndash;
131. Under the terms of the agreement, the seller
will retain a royalty per metric ton produced from the mining concession beginning two years after the assignment of
the concession rights to our Colombia subsidiary, with a minimum royalty based upon 100,000 metric tons per year.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 16, 2008, the regional environmental
authority for the area (CORPOBOYACA) formed a regional natural park called Las Quinchas which included a conservation area and
a buffer zone. We recently were informed that certain limited portions of three mining concession contracts were included in the
buffer areas and were erroneously made unavailable for mining. We are pursuing legal and other remedies with CORPOBOYACA and other
governmental authorities to allow mining in the buffer zone or a revision in the buffer area. Management anticipates that this
issue will be resolved favorably within three months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Ruku Mining Complex</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 30, 2012, INGEOMINAS approved
and we completed the acquisition of 70% of the rights associated with mining concession contract 010-91from Hawerd Cubides by our
Colombian subsidiary. The transfer of the remaining concessions is pending approval from INGEOMINAS. <FONT STYLE="color: black">The
execution of the original agreement for the purchase of these concessions, known as the Ruku project, was previously disclosed
under Item 1.01 in a report on Form 8-K filed by the Company with the Commission on August 26, 2011, and in a subsequent report
on Form 8-K filed with the Commission on September 19, 2011. Historical financial statements of the business are
required to be filed and pro forma financial information is required to be furnished pursuant to the requirements of Item 9.01(a)
and (b) of Form 8-K. The Company is in the process of preparing the necessary financial statements and pro forma financial information
and anticipates filing the required financial statements and furnishing the necessary pro forma financial information prior to
the end of the first quarter of 2012. </FONT></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Herrera Project</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The acquisition of mining concession
FI7-081 was completed on February 2, 2012. The disclosure in response to Item 1.01 above in connection with mining concession FI7-081
is incorporated in response to this item. A press release announcing the acquisition is included as an exhibit with this report.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 2.03</B></TD><TD STYLE="text-align: justify"><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
of a Registrant.</B></TD></TR></TABLE>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Boavita Project</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The agreement with AMERALEX in connection
with the Boavita project resulted in a direct financial obligation. The information in response to Item 1.01 above in regard to
the option agreement is incorporated into this item.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Herrera Project</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The agreement for the assignment of
mining concession FI7-081 in connection with the Herrera project resulted in a direct financial obligation. The information in
response to Item 1.01 above in regard to the assignment agreement is incorporated into this item.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>Ruku Project</U></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The agreement for the purchase of the
Ruku working interests resulted in a direct financial obligation the amount of which is subject to the calculation of reserves
as determined in the future. The information in response to Item 2.01 above in regard to the option agreement is incorporated into
this item.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 9.01 &#9;Financial Statements
and Exhibits.</B></P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial statements of business acquired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Audited financial statements required by this
item for the completion of the Ruku acquisition described above are not included in this report and will be filed by amendment
hereto.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Pro forma financial information.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pro forma financial information required
by this item for the Ruku acquisition are not included in this report and will be filed by amendment hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Exhibits.</P>

<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-align: center">Item No.</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 84%; padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; font-weight: bold; text-align: justify">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">2.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: justify">Total Assignment Contract of the Mining Rights Derived from the Mining Concession Contract FI7-081 dated February 2, 2012, for the Herrera project (confidential information has been redacted)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; layout-grid-mode: line; text-align: justify">Press Release dated February 8, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B>Colombia Energy Resources, Inc.</B></TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
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    <TD STYLE="vertical-align: top; width: 50%">Date: February 8, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ James A. Flores</TD></TR>
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    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">James A. Flores, Chief Financial
Officer</TD></TR>
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{"company-data": {"conformed-name": "COLOMBIA ENERGY RESOURCES, INC.", "cik": "0001045390", "assigned-sic": "1221", "irs-number": "870567033", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-32735", "film-number": "12592977"}, "business-address": {"street1": "ONE EMBARCADERO CENTER", "street2": "SUITE 500", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111", "phone": "415-460-1165"}, "mail-address": {"street1": "ONE EMBARCADERO CENTER", "street2": "SUITE 500", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111"}, "former-company": [{"former-conformed-name": "COLOMBIA CLEAN POWER & FUELS, INC", "date-changed": "20100806"}, {"former-conformed-name": "FREEDOM RESOURCES ENTERPRISES INC", "date-changed": "20010424"}]}
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
October 7,
2011
COLOMBIA
ENERGY RESOURCES, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
000-32735
87-0567033
(State or Other Jurisdiction of Incorporation)
Commission File Number
(IRS Employer Identification No.)
One Embarcadero Center, Suite 500, San Francisco, CA
94901
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
: (415)
460-1165
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
£
Written communications pursuant to Rule 425 under the
Securities Act
£
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 1.01 	Entry into a Material Definitive
Agreement.
Boavita Project
On October 7, 2011, our Colombian subsidiary
entered into an agreement (the "Option Agreement") with Americana de Minerales de Exploracion S.A.S. ("AMERALEX")
for the option to purchase all of the rights of AMERALEX in mining concession FFB-081 covering approximately 1,550 hectares (approximately
3,830 acres) located in the jurisdiction of the Municipalities of Boavita and La Uvita, Department of Boyacá, Republic of
Colombia (the "Boavita Mining Concession"). Once INGEOMINAS approves the mining plan, we have up to 24 months to conduct
exploration of the entire concession, evaluate and characterize the coal deposit, and exercise the option. The purchase price will
be determined based upon the determination of proven and probable reserves using standard methodology.
We are obligated to pay a fixed amount
upon approval of the mining plan. We are also obligated to pay an additional amount nine months after the first payment. Upon completion
of the exploration work, and if we exercise the option to acquire the concession, we are obligated to pay a further amount. Beginning
30 months after the initial payment under the Agreement, we are obligated to make annual payments of an additional fixed amount;
however, the total aggregate purchase price will be limited to the final calculation of proven and probable reserves, not to exceed
a maximum aggregate agreed purchase price.
On December 27, 2011, we entered into
an operations agreement with AMERALEX which allows for the immediate start of mining operations on the Boavita Mining Concession
once INGEOMINAS, the Colombian state mining authority, approves the mining plan, which is expected to occur in February 2012. As
compensation to AMERALEX for this right, we paid a fixed amount on the date the agreement was entered into and have agreed to pay
an additional amount upon approval of the agreement by our company's board of directors. We have also agreed to pay AMERALEX
a royalty on monthly sales, a portion of which will be offset by the upfront payments. A press release announcing this agreement
is included as an exhibit with this report.
Herrera Project
On February 2, 2012, our Colombian subsidiary
entered into a contract with Dairo Ruben Herrera Perez and Ariel Salcedo Leal in connection with the assignment of mining concession
contract FI7-081. The concession is adjacent to our Ruku Mining Complex which began production in December 2011 and is now producing
approximately 1,800 tons per month, and will result in more efficient access to Ruku's coal resources and ultimately, lower
operating costs and improved safety. The concession has 17 hectares (42 acres) and metallurgical coal resources similar in quality
to Ruku's. Its permit, FI7-081, is currently in the construction or preoperative phase. Compensation for the property includes
payments made at signing of the agreement and additional payments due upon governmental approval of the concession's transfer
to our Colombian subsidiary which we anticipate during the second quarter of 2012.
Item 2.01 	Completion of Acquisition
or Disposition of Assets.
Otanche Project
On March 26, 2011, we filed a report
on Form 8-K disclosing that we had entered into two contracts to acquire mining concessions which we designate as the Otanche Project.
Since entering into the agreements we have conducted exploration drilling and sought governmental approvals for the project. While
our drilling program continues, we received the last of the required approvals for and completed the acquisition of the concessions
on January 12, 2012.
The acquisition of these concessions did not constitute a business acquisition.
The first agreement between our Colombian subsidiary
and the owners of the mining concession, Luis Albeiro Florez and Omega Energy Colombia, was for mining concession contract FCF
– 142. Under the terms of the agreement, the sellers
will retain a royalty per metric ton produced from the mining concession beginning two years after the assignment of
the concession rights to our Colombian subsidiary, with a minimum royalty based upon 100,000 metric tons per year.
The second agreement between our Colombian
subsidiary and Jesus Hernando Zarate Pinilla was for two mining concession contracts designated as ECB – 121 and EAU –
131. Under the terms of the agreement, the seller
will retain a royalty per metric ton produced from the mining concession beginning two years after the assignment of
the concession rights to our Colombia subsidiary, with a minimum royalty based upon 100,000 metric tons per year.
On December 16, 2008, the regional environmental
authority for the area (CORPOBOYACA) formed a regional natural park called Las Quinchas which included a conservation area and
a buffer zone. We recently were informed that certain limited portions of three mining concession contracts were included in the
buffer areas and were erroneously made unavailable for mining. We are pursuing legal and other remedies with CORPOBOYACA and other
governmental authorities to allow mining in the buffer zone or a revision in the buffer area. Management anticipates that this
issue will be resolved favorably within three months.
2
Ruku Mining Complex
On January 30, 2012, INGEOMINAS approved
and we completed the acquisition of 70% of the rights associated with mining concession contract 010-91from Hawerd Cubides by our
Colombian subsidiary. The transfer of the remaining concessions is pending approval from INGEOMINAS.
The
execution of the original agreement for the purchase of these concessions, known as the Ruku project, was previously disclosed
under Item 1.01 in a report on Form 8-K filed by the Company with the Commission on August 26, 2011, and in a subsequent report
on Form 8-K filed with the Commission on September 19, 2011. Historical financial statements of the business are
required to be filed and pro forma financial information is required to be furnished pursuant to the requirements of Item 9.01(a)
and (b) of Form 8-K. The Company is in the process of preparing the necessary financial statements and pro forma financial information
and anticipates filing the required financial statements and furnishing the necessary pro forma financial information prior to
the end of the first quarter of 2012.
Herrera Project
The acquisition of mining concession
FI7-081 was completed on February 2, 2012. The disclosure in response to Item 1.01 above in connection with mining concession FI7-081
is incorporated in response to this item. A press release announcing the acquisition is included as an exhibit with this report.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
of a Registrant.
Boavita Project
The agreement with AMERALEX in connection
with the Boavita project resulted in a direct financial obligation. The information in response to Item 1.01 above in regard to
the option agreement is incorporated into this item.
Herrera Project
The agreement for the assignment of
mining concession FI7-081 in connection with the Herrera project resulted in a direct financial obligation. The information in
response to Item 1.01 above in regard to the assignment agreement is incorporated into this item.
Ruku Project
The agreement for the purchase of the
Ruku working interests resulted in a direct financial obligation the amount of which is subject to the calculation of reserves
as determined in the future. The information in response to Item 2.01 above in regard to the option agreement is incorporated into
this item.
Item 9.01 	Financial Statements
and Exhibits.
(a)
Financial statements of business acquired.
Audited financial statements required by this
item for the completion of the Ruku acquisition described above are not included in this report and will be filed by amendment
hereto.
(b)
Pro forma financial information.
Pro forma financial information required
by this item for the Ruku acquisition are not included in this report and will be filed by amendment hereto.
(d)
Exhibits.
Item No.
Description
2.1
Total Assignment Contract of the Mining Rights Derived from the Mining Concession Contract FI7-081 dated February 2, 2012, for the Herrera project (confidential information has been redacted)
99.1
Press Release dated February 8, 2012
3
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.
Colombia Energy Resources, Inc.
Date: February 8, 2012
By:
/s/ James A. Flores
James A. Flores, Chief Financial
Officer
4