<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
<U>April 5, 2012</U></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>RED MOUNTAIN RESOURCES, INC.</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">Florida</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">000-54444</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">27-1739487</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or Other Jurisdiction</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">of Incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: 67%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">2515 McKinney Avenue, Suite 900, Dallas, Texas</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline; text-align: center">75201</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>(214) 871-0400</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including
Area Code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Not Applicable</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15pt; text-indent: 35.85pt">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 (<I>see</I> General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.15pt; text-indent: 35.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&#9;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))</FONT></P>

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%"></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>Item 8.01&#9;Other Events.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At an auction conducted by First Security
Bank (&ldquo;FSB&rdquo;) in the pending bankruptcy proceeding (the &ldquo;Bankruptcy Proceeding&rdquo;) of O&amp;G Leasing, LLC
(&ldquo;O&amp;G&rdquo;) and Performance Drilling Company, LLC (&ldquo;Performance Drilling,&rdquo; and together with O&amp;G, collectively
referred to herein as the &ldquo;Debtors&rdquo;) in the United States Bankruptcy Court for the Southern District of Mississippi
(the &ldquo;Bankruptcy Court&rdquo;), Hunter Drilling, LLC (&ldquo;Hunter Drilling&rdquo;), a wholly-owned subsidiary of Red Mountain
Resources, Inc. (the &ldquo;Company&rdquo;), was the highest bidder for substantially all of the assets of the Debtors. The assets
consist of the Debtors&rsquo; five oil and gas drilling rigs and related parts and equipment, rolling stock, accounts and notes
receivable, tangible personal property and certain intangible property, insurance benefits, prepaid deposits and expenses, claims
and warranties, permits, contracts and books and records. Hunter Drilling&rsquo;s acquisition of the assets is subject to the execution
of a definitive asset purchase agreement, the Bankruptcy Court&rsquo;s confirmation of a Plan of Reorganization filed by FSB (the
&ldquo;FSB Plan of Reorganization&rdquo;) based on the sale of the Debtors&rsquo; assets to Hunter Drilling over of a competing
Plan of Reorganization filed by the Debtors with the Bankruptcy Court and the entry of orders of the Bankruptcy Court approving
the Hunter Drilling acquisition of the Debtors&rsquo; assets and confirming the FSB Plan of Reorganization. &#9;If these orders
are entered by the Bankruptcy Court, it is anticipated that the closing of the acquisition will occur towards the end of the second
quarter or the beginning of the third quarter of calendar 2012.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FSB is the Trustee under a trust indenture
pursuant to which the Debtors issued $25,955,000 of senior secured debentures and $7,610,000 of subordinated secured debentures.
The assets being acquired by Hunter Drilling serve as collateral security for the Debtors&rsquo; outstanding debentures. Pursuant
to the terms of Hunter Drilling&rsquo;s acquisition, Hunter Drilling will pay to the Debtors $450,000 in cash, plus up to an additional
$500,000 for the payment of certain administrative and other priority claims in the Bankruptcy Proceeding only if there is not
sufficient cash in the Debtors&rsquo; bankruptcy estate to pay such claims. Hunter Drilling will also issue (i) new 6% senior secured
convertible debentures with a term of approximately eight (8) years in a principal amount of $23,610,000 (the &ldquo;Hunter Drilling
Senior Debentures&rdquo;) in exchange for a like amount of the Debtors&rsquo; outstanding senior secured debentures and (ii) new
6% subordinated secured convertible debentures with a term of approximately nine (9) years in a principal amount of $6,560,000
(the &ldquo;Hunter Drilling Subordinated Debentures,&rdquo; and together with the Hunter Drilling Senior Debentures, collectively
referred to herein as the &ldquo;Hunter Drilling Debentures&rdquo;) in exchange for a like amount of the Debtors&rsquo; subordinated
secured debentures. The principal of and interest on the Hunter Drilling Senior Debentures will be paid quarterly based on an approximately
eight (8) year amortization schedule. The principal of the Hunter Drilling Subordinated Debentures will be payable commencing with
quarterly principal payments during the eighth (8<SUP>th</SUP>) year of their term with any remaining principal payable at maturity
in the ninth (9<SUP>th</SUP>) year of their term. Interest on the Hunter Drilling Subordinated Debentures will be payable quarterly.
The principal amount of the Hunter Drilling Debentures is subject to prepayment from any excess cash (which shall be net of all
operating expenses, payments on indebtedness, capital expenditures and tax payments) generated by the operations of Hunter Drilling.
The Hunter Drilling Debentures will be secured by a first priority lien on the assets that Hunter Drilling will be acquiring from
the Debtors except as described below. At the option of the holders, the Hunter Drilling Debentures will be convertible into shares
of the Company&rsquo;s common stock at a conversion price of $2.00 per share, increasing annually by $0.50 per share until the
maturity of the Hunter Drilling Debentures. At the closing of the acquisition, Hunter Drilling has also committed (i) to repay
$2,345,000 of the Debtors&rsquo; outstanding senior secured debentures and $1,050,000 of the Debtor&rsquo;s subordinated secured
debentures either through the payment of cash or, at Hunter Drilling&rsquo;s option, through the issuance of newly issued shares
of the Company&rsquo;s common stock at a price of $1.50 per share and (ii) to repay the accrued and unpaid interest on such debentures
as of the filing date of the Bankruptcy Proceeding in an aggregate amount of approximately $4,400,000 through the issuance of newly
issued shares of the Company&rsquo;s common stock at a price of $1.50 per share. Any cash payments would be made from Hunter Drilling&rsquo;s
working capital. The Company has committed to make available to Hunter Drilling an equity line in the amount of $2,000,000 for
its working capital needs.</P>

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

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

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Hunter Drilling has also agreed to issue
a secured promissory note to Washington State Bank (the &ldquo;WSB Note&rdquo;) in an approximate principal amount of $4,504,000
in repayment of a secured promissory note previously issued by the Debtors&rsquo; to Washington State Bank. The principal amount
of the WSB Note will be reduced by any principal payments made during the Bankruptcy Proceeding on the Debtors&rsquo; promissory
note to WSB. Interest on the WSB Note will accrue at the Prime Rate plus 2%, with a minimum interest rate of 6% and a maximum interest
rate of 8%. The principal and interest on the WSB Note will be payable quarterly based on a five (5) year mortgage amortization
schedule. The WSB Note will be secured by a first priority lien on one of the drilling rigs being acquired by Hunter Drilling,
which presently secures the existing promissory note of the Debtors held by Washington State Bank.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A copy of the press release issued by the
Company announcing the acquisition is included as Exhibit 99.1 to this Current Report on Form 8-K.</P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>(d)</B></TD><TD><B>Exhibits</B></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">99.1</TD><TD STYLE="text-align: justify">Press release.</TD>
</TR></TABLE>

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

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

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></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="padding-right: 5.4pt; padding-left: 5.4pt">Dated: April 5, 2012</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">RED MOUNTAIN RESOURCES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 45%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 3%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-decoration: underline">/s/ Alan W. Barksdale</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Alan W. Barksdale</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Chief Executive Officer</TD></TR>
</TABLE>


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

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

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

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "v308404_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 21893}]
{"company-data": {"conformed-name": "RED MOUNTAIN RESOURCES, INC.", "cik": "0001483496", "assigned-sic": "1311", "irs-number": "271739487", "state-of-incorporation": "FL", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-54444", "film-number": "12744562"}, "business-address": {"street1": "2515 MC KINNEY AVE", "street2": "SUITE 900", "city": "DALLAS", "state": "TX", "zip": "75201", "phone": "720-204-1013"}, "mail-address": {"street1": "2515 MC KINNEY AVE", "street2": "SUITE 900", "city": "DALLAS", "state": "TX", "zip": "75201"}, "former-company": {"former-conformed-name": "Teaching Time, Inc.", "date-changed": "20100205"}}
UNITED STATES
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):
April 5, 2012
RED MOUNTAIN RESOURCES, INC.
(Exact Name of Registrant as Specified in
Charter)
Florida
000-54444
27-1739487
(State or Other Jurisdiction
(Commission
(IRS Employer
of Incorporation)
File Number)
Identification No.)
2515 McKinney Avenue, Suite 900, Dallas, Texas
75201
(Address of Principal Executive Offices)
(Zip Code)
(214) 871-0400
(Registrant's Telephone Number, Including
Area Code)
Not Applicable
(Former Name or Former Address, if Changed
Since Last Report)
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 (
see
General Instruction A.2. below):
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))
Item 8.01	Other Events.
At an auction conducted by First Security
Bank ("FSB") in the pending bankruptcy proceeding (the "Bankruptcy Proceeding") of O&G Leasing, LLC
("O&G") and Performance Drilling Company, LLC ("Performance Drilling," and together with O&G, collectively
referred to herein as the "Debtors") in the United States Bankruptcy Court for the Southern District of Mississippi
(the "Bankruptcy Court"), Hunter Drilling, LLC ("Hunter Drilling"), a wholly-owned subsidiary of Red Mountain
Resources, Inc. (the "Company"), was the highest bidder for substantially all of the assets of the Debtors. The assets
consist of the Debtors' five oil and gas drilling rigs and related parts and equipment, rolling stock, accounts and notes
receivable, tangible personal property and certain intangible property, insurance benefits, prepaid deposits and expenses, claims
and warranties, permits, contracts and books and records. Hunter Drilling's acquisition of the assets is subject to the execution
of a definitive asset purchase agreement, the Bankruptcy Court's confirmation of a Plan of Reorganization filed by FSB (the
"FSB Plan of Reorganization") based on the sale of the Debtors' assets to Hunter Drilling over of a competing
Plan of Reorganization filed by the Debtors with the Bankruptcy Court and the entry of orders of the Bankruptcy Court approving
the Hunter Drilling acquisition of the Debtors' assets and confirming the FSB Plan of Reorganization. 	If these orders
are entered by the Bankruptcy Court, it is anticipated that the closing of the acquisition will occur towards the end of the second
quarter or the beginning of the third quarter of calendar 2012.
FSB is the Trustee under a trust indenture
pursuant to which the Debtors issued $25,955,000 of senior secured debentures and $7,610,000 of subordinated secured debentures.
The assets being acquired by Hunter Drilling serve as collateral security for the Debtors' outstanding debentures. Pursuant
to the terms of Hunter Drilling's acquisition, Hunter Drilling will pay to the Debtors $450,000 in cash, plus up to an additional
$500,000 for the payment of certain administrative and other priority claims in the Bankruptcy Proceeding only if there is not
sufficient cash in the Debtors' bankruptcy estate to pay such claims. Hunter Drilling will also issue (i) new 6% senior secured
convertible debentures with a term of approximately eight (8) years in a principal amount of $23,610,000 (the "Hunter Drilling
Senior Debentures") in exchange for a like amount of the Debtors' outstanding senior secured debentures and (ii) new
6% subordinated secured convertible debentures with a term of approximately nine (9) years in a principal amount of $6,560,000
(the "Hunter Drilling Subordinated Debentures," and together with the Hunter Drilling Senior Debentures, collectively
referred to herein as the "Hunter Drilling Debentures") in exchange for a like amount of the Debtors' subordinated
secured debentures. The principal of and interest on the Hunter Drilling Senior Debentures will be paid quarterly based on an approximately
eight (8) year amortization schedule. The principal of the Hunter Drilling Subordinated Debentures will be payable commencing with
quarterly principal payments during the eighth (8
th
) year of their term with any remaining principal payable at maturity
in the ninth (9
th
) year of their term. Interest on the Hunter Drilling Subordinated Debentures will be payable quarterly.
The principal amount of the Hunter Drilling Debentures is subject to prepayment from any excess cash (which shall be net of all
operating expenses, payments on indebtedness, capital expenditures and tax payments) generated by the operations of Hunter Drilling.
The Hunter Drilling Debentures will be secured by a first priority lien on the assets that Hunter Drilling will be acquiring from
the Debtors except as described below. At the option of the holders, the Hunter Drilling Debentures will be convertible into shares
of the Company's common stock at a conversion price of $2.00 per share, increasing annually by $0.50 per share until the
maturity of the Hunter Drilling Debentures. At the closing of the acquisition, Hunter Drilling has also committed (i) to repay
$2,345,000 of the Debtors' outstanding senior secured debentures and $1,050,000 of the Debtor's subordinated secured
debentures either through the payment of cash or, at Hunter Drilling's option, through the issuance of newly issued shares
of the Company's common stock at a price of $1.50 per share and (ii) to repay the accrued and unpaid interest on such debentures
as of the filing date of the Bankruptcy Proceeding in an aggregate amount of approximately $4,400,000 through the issuance of newly
issued shares of the Company's common stock at a price of $1.50 per share. Any cash payments would be made from Hunter Drilling's
working capital. The Company has committed to make available to Hunter Drilling an equity line in the amount of $2,000,000 for
its working capital needs.
2
Hunter Drilling has also agreed to issue
a secured promissory note to Washington State Bank (the "WSB Note") in an approximate principal amount of $4,504,000
in repayment of a secured promissory note previously issued by the Debtors' to Washington State Bank. The principal amount
of the WSB Note will be reduced by any principal payments made during the Bankruptcy Proceeding on the Debtors' promissory
note to WSB. Interest on the WSB Note will accrue at the Prime Rate plus 2%, with a minimum interest rate of 6% and a maximum interest
rate of 8%. The principal and interest on the WSB Note will be payable quarterly based on a five (5) year mortgage amortization
schedule. The WSB Note will be secured by a first priority lien on one of the drilling rigs being acquired by Hunter Drilling,
which presently secures the existing promissory note of the Debtors held by Washington State Bank.
A copy of the press release issued by the
Company announcing the acquisition is included as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01		Financial Statements and Exhibits.
(d)
Exhibits
99.1
Press release.
3
SIGNATURE
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.
Dated: April 5, 2012
RED MOUNTAIN RESOURCES, INC.
By:
/s/ Alan W. Barksdale
Alan W. Barksdale
Chief Executive Officer
4