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

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

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

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM 8-K</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>CURRENT REPORT</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
Securities Exchange Act of 1934</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-align: center">Date of Report (Date of earliest event
reported): <B>July 19, 2012</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-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; font-weight: bold; text-align: center">RED
    MOUNTAIN RESOURCES, INC.</TD></TR>
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    <TD STYLE="border-top: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(Exact
    name of registrant as specified in its charter)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><B>&nbsp;</B></P>

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    <TD STYLE="width: 33%; padding-right: -2.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">Florida</TD>
    <TD STYLE="width: 33%; padding-right: -2.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">000-54444</TD>
    <TD STYLE="width: 33%; padding-right: -2.4pt; padding-left: 5.4pt; font-weight: bold; text-align: center">27-1739487</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">(State or other
    jurisdiction of</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">(Commission File
    Number)</TD>
    <TD STYLE="border-top: windowtext 1pt solid; padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">incorporation)</TD>
    <TD STYLE="padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: -2.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

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    <TD STYLE="width: 45%; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2515 McKinney Avenue, Suite
        900</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dallas, Texas</B></P></TD>
    <TD STYLE="vertical-align: top; padding-right: -0.5in; padding-left: 5.4pt; font-weight: bold; width: 10%">&nbsp;</TD>
    <TD STYLE="width: 45%; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><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>75201</B></P></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: -0.5in; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Registrant&rsquo;s
telephone number, including area code:</FONT> <FONT STYLE="font-size: 10pt"><B>(214) 871-0400</B></FONT></P>

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<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>

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

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<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">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):</P>

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    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; font-family: Symbol"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Written communications pursuant to Rule 425 under the
        Securities Act (17 CFR 230.425)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Symbol"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Soliciting material pursuant to Rule 14a-12 under the
        Exchange Act (17 CFR 240.14a-12)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Symbol"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pre-commencement communications pursuant to Rule 14d-2(b)
        under the Exchange Act (17 CFR 240.14d-2(b))</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-family: Symbol"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01 Entry into a Material Definitive Agreement. </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">On July 19, 2012, Red Mountain
Resources, Inc. (the &ldquo;Company&rdquo;) and its wholly owned subsidiary, Hunter Drilling, LLC (&ldquo;Hunter
Drilling&rdquo;), entered into an Asset Purchase Agreement, dated July 19, 2012 (the &ldquo;Purchase Agreement&rdquo;), with
First Security Bank, as Trustee for the Holders of the Senior Series 2009A Debentures and the Series 2009B Debentures
(&ldquo;FSB&rdquo;), O&amp;G Leasing, LLC (&ldquo;O&amp;G&rdquo;) and Performance Drilling Company, LLC (&ldquo;PDC&rdquo;
and together with O&amp;G, the &ldquo;Sellers&rdquo;). The Purchase Agreement is subject to, among other things, (i) the
entry of a confirmation order by the United States Bankruptcy Court for the Southern District of Mississippi (the
&ldquo;Bankruptcy Court&rdquo;) confirming the Plan of Reorganization filed by FSB and (ii) the entry of a transfer order
approving the Purchase Agreement and all of the transactions contemplated by the Purchase Agreement and the sale of the
Purchased Assets (as defined below) pursuant to Section 363 of the U.S. Bankruptcy Code. If these orders are entered by the
Bankruptcy Court, it is anticipated that the closing of the transactions contemplated by the Purchase Agreement (the
&ldquo;Closing&rdquo;) will occur prior to the end of 2012.</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">Under the Purchase Agreement,
Hunter Drilling will acquire substantially all of the assets of the Sellers, including, but not limited to, five oil and
natural gas drilling rigs, rolling stock, trade accounts receivable and notes receivable, tangible personal property and
certain intangible personal property, insurance benefits, prepaid deposits and expenses, claims and warranties, permits,
contracts and books and records (collectively, the &ldquo;Purchased Assets&rdquo;) in exchange for a combination of cash,
shares of the Company&rsquo;s common stock and debt securities of Hunter Drilling, as described below. The Sellers agreed to
retain and be liable for any and all of their liabilities not expressly assumed by Hunter Drilling, including all liabilities
arising out of Sellers&rsquo; ownership of the Purchased Assets prior to the Closing.</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">Pursuant to the terms of the Purchase Agreement,
Hunter Drilling and the Company agreed (i) to pay $450,000 in cash at Closing (the &ldquo;Closing Cash Payment&rdquo;) and (ii)
to pay an additional $500,000 for the payment of certain administrative expenses, professional fees, cure amounts and other allowed
claims if the amount of cash in the bankruptcy estate is insufficient to pay these claims (the &ldquo;Cash Contribution&rdquo;).
On July 19, 2012, Hunter Drilling paid $250,000 into an escrow account as an earnest money deposit. This deposit will first be
applied to the Cash Contribution obligation and any remaining amounts will then be applied to the Closing Cash Payment.</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">In addition to the cash purchase price,
the Company agreed to issue 1,509,307 shares of its common stock to the holders of Senior Series 2009A Debentures (the &ldquo;2009A
Debentures&rdquo;) at an agreed price of $1.50 per share, for the payment of accrued and unpaid interest on the 2009A Debentures,
subject to adjustment in certain limited circumstances. Hunter Drilling also agreed to issue Senior Secured Convertible Debentures
with a term of approximately eight years that accrue interest at a rate of 6% per annum (the &ldquo;Senior Secured Debentures&rdquo;)
to the holders of 2009A Debentures in the aggregate principal amount of $25,955,000 (the aggregate principal amount of debt held
by such holders), subject to adjustment for (A) those 2009A Debentures that have been acquired by the Company in exchange for
issuing shares of its common stock (the &ldquo;Exchanged Senior Debentures&rdquo;) and (B) those 2009A Debentures that are redeemed
with cash provided by Hunter Drilling at Closing. Hunter Drilling agreed to either acquire $2,345,000 in principal amount of 2009A
Debentures prior to Closing or to tender cash to acquire 2009A Debentures in a principal amount equal to the difference between
the $2,345,000 and the principal amount of Exchanged Senior Debentures. Principal and interest on the Senior Secured Debentures
will be paid quarterly based on an approximately eight year amortization schedule. The Senior Secured Debentures shall be secured
by a first priority lien on the Purchased Assets, subject to certain exceptions. The Senior Secured Debentures are subject to
conversion after the Closing, in whole or in part at the option of the holders, into shares of the Company&rsquo;s common stock
at a conversion price of $2.00 per share of common stock until the first anniversary of the Closing, with an increase in the conversion
price of $0.50 per share on each subsequent anniversary of Closing until maturity, each subject to adjustment in certain limited
circumstances. The Senior Secured Debentures can be prepaid without premium or penalty, subject to prior notice. In addition,
Hunter Drilling is required to conduct a dutch auction on an annual basis that uses all excess cash of Hunter Drilling to purchase
Senior Secured Debentures.</P>

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

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<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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As part of the purchase price, the
Company also agreed to issue 697,110 shares of its common stock to the holders of the Series 2009B Debentures (the
&ldquo;2009B Debentures&rdquo;) at an agreed price of $1.50 per share, for the payment of accrued and unpaid interest on the
2009B Debentures, subject to adjustment in certain limited circumstances. In addition, Hunter Drilling agreed to issue Junior
Secured Debentures with a term of approximately nine years that accrue interest at a rate of 6% per annum (the &ldquo;Junior
Secured Debentures&rdquo;) to the holders of the 2009B Debentures in the aggregate principal amount of $7,610,000 (the
aggregate principal amount of debt held by such holders), subject to adjustment for (A)&nbsp;those 2009B Debentures that have
been acquired by the Company in exchange for issuing shares of its common stock (the &ldquo;Exchanged Junior
Debentures&rdquo;) and (B) those 2009B Debentures that are redeemed with cash provided by Hunter Drilling at Closing. Hunter
Drilling agreed to acquire either $1,050,000 in principal amount of the Exchanged Junior Debentures prior to Closing or to
tender cash to acquire 2009B Debentures in a principal amount equal to the difference between the $1,050,000 and the
principal amount of the Exchanged Junior Debentures. Interest on the Junior Secured Debentures will be paid quarterly based
on an approximately nine year amortization schedule and principal on the Junior Secured Debentures will be payable quarterly
commencing during approximately the seventh year of the amortization schedule. The Junior Secured Debentures shall be secured
by a subordinated lien on the Purchased Assets. The Junior Secured Debentures are subject to conversion after the Closing, in
whole or in part, at the option of the holders, into shares of the Company&rsquo;s common stock at a conversion price of
$2.00 per share of common stock until the first anniversary of the Closing, with an increase in the conversion price of $0.50
per share on each subsequent anniversary of Closing until maturity, each subject to adjustment in certain limited
circumstances. The Junior Secured Debentures can be prepaid without premium or penalty, subject to prior notice. In addition,
Hunter Drilling is required to conduct a dutch auction on an annual basis that uses all excess cash of Hunter Drilling to
purchase Junior Secured Debentures to the extent that there is any remaining excess cash after conducting the dutch auction
for the Senior Secured Debentures.</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">As part of the purchase price, Hunter Drilling
also agreed to issue a secured promissory note with a term of five years from the Closing (the &ldquo;WSB Note&rdquo;) to Washington
State Bank (&ldquo;WSB&rdquo;) at Closing in the principal amount of WSB&rsquo;s secured claim as of the Closing (which was approximately
$4,078,868.80 as of July 10, 2012) in repayment of a secured promissory note previously issued by the Sellers to WSB. Interest
on the WSB Note shall accrue at a floating rate equal to the prime rate plus two percent per annum; <U>provided</U>, that interest
shall be fixed at (i) 6% if the interest rate during any period would be less than 6% or (ii) 8% if the interest rate during any
period would be greater than 8%. Principal and interest on the WSB Note will be payable monthly based on a five year amortization
schedule. The WSB Note will be secured by a first priority lien on the Purchased Assets that presently secured WSB&rsquo;s secured
claim in the bankruptcy proceedings and a capital expenditure cash collateral account and restricted reserve account held by WSB.</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">The Purchase Agreement contains customary
representations, warranties and covenants and may be terminated by Hunter Drilling, FSB or Sellers if the Purchase Agreement is
not approved by the Bankruptcy Court or in the event that certain conditions are not satisfied within 30 days following the entry
of a confirmation order. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified
in its entirety by reference to the actual terms of the Purchase Agreement, which is filed as Exhibit 2.1 hereto and is incorporated
herein by reference.</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"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.25pt; text-indent: 0.5in"><I>(d)&#9;Exhibits.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 14%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-decoration: underline; text-align: center">Exhibit
    No.</TD>
    <TD STYLE="width: 86%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-decoration: underline; text-align: center">Description
    of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.1*</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Asset
    Purchase Agreement, dated July 19, 2012, by and among Hunter Drilling, LLC, First Security Bank, as Trustee for the Holders
    of the Senior Series 2009A Debentures and the Series 2009B Debentures, Red Mountain Resources, Inc., O&amp;G Leasing, LLC
    and Performance Drilling Company, LLC.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Pursuant to Item 601(b)(2), the registrant agrees to furnish
supplementary a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request.</P>

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

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">Date:</TD>
    <TD STYLE="width: 40%">July 25, 2012</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">RED MOUNTAIN RESOURCES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="text-decoration: underline">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Alan W. Barksdale&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Alan W. Barksdale</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX </B></P>

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    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-decoration: underline; text-align: center">Exhibit
    No.</TD>
    <TD STYLE="width: 86%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-weight: bold; text-decoration: underline; text-align: center">Description
    of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.1*</TD>
    <TD STYLE="border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">Asset
    Purchase Agreement, dated July 19, 2012, by and among Hunter Drilling, LLC, First Security Bank, as Trustee for the Holders
    of the Senior Series 2009A Debentures and the Series 2009B Debentures, Red Mountain Resources, Inc., O&amp;G Leasing, LLC
    and Performance Drilling Company, LLC.</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*Pursuant to Item 601(b)(2), the registrant agrees to furnish
supplementary a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request.</P>

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{"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": "12979161"}, "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):
July 19, 2012
RED
    MOUNTAIN RESOURCES, INC.
(Exact
    name of registrant as specified in its charter)
Florida
000-54444
27-1739487
(State or other
    jurisdiction of
(Commission File
    Number)
(IRS Employer
incorporation)
Identification No.)
2515 McKinney Avenue, Suite
        900
Dallas, Texas
75201
(Address of principal executive offices)
(Zip Code)
Registrant's
telephone number, including area code:
(214) 871-0400
(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 1.01 Entry into a Material Definitive Agreement.
On July 19, 2012, Red Mountain
Resources, Inc. (the "Company") and its wholly owned subsidiary, Hunter Drilling, LLC ("Hunter
Drilling"), entered into an Asset Purchase Agreement, dated July 19, 2012 (the "Purchase Agreement"), with
First Security Bank, as Trustee for the Holders of the Senior Series 2009A Debentures and the Series 2009B Debentures
("FSB"), O&G Leasing, LLC ("O&G") and Performance Drilling Company, LLC ("PDC"
and together with O&G, the "Sellers"). The Purchase Agreement is subject to, among other things, (i) the
entry of a confirmation order by the United States Bankruptcy Court for the Southern District of Mississippi (the
"Bankruptcy Court") confirming the Plan of Reorganization filed by FSB and (ii) the entry of a transfer order
approving the Purchase Agreement and all of the transactions contemplated by the Purchase Agreement and the sale of the
Purchased Assets (as defined below) pursuant to Section 363 of the U.S. Bankruptcy Code. If these orders are entered by the
Bankruptcy Court, it is anticipated that the closing of the transactions contemplated by the Purchase Agreement (the
"Closing") will occur prior to the end of 2012.
Under the Purchase Agreement,
Hunter Drilling will acquire substantially all of the assets of the Sellers, including, but not limited to, five oil and
natural gas drilling rigs, rolling stock, trade accounts receivable and notes receivable, tangible personal property and
certain intangible personal property, insurance benefits, prepaid deposits and expenses, claims and warranties, permits,
contracts and books and records (collectively, the "Purchased Assets") in exchange for a combination of cash,
shares of the Company's common stock and debt securities of Hunter Drilling, as described below. The Sellers agreed to
retain and be liable for any and all of their liabilities not expressly assumed by Hunter Drilling, including all liabilities
arising out of Sellers' ownership of the Purchased Assets prior to the Closing.
Pursuant to the terms of the Purchase Agreement,
Hunter Drilling and the Company agreed (i) to pay $450,000 in cash at Closing (the "Closing Cash Payment") and (ii)
to pay an additional $500,000 for the payment of certain administrative expenses, professional fees, cure amounts and other allowed
claims if the amount of cash in the bankruptcy estate is insufficient to pay these claims (the "Cash Contribution").
On July 19, 2012, Hunter Drilling paid $250,000 into an escrow account as an earnest money deposit. This deposit will first be
applied to the Cash Contribution obligation and any remaining amounts will then be applied to the Closing Cash Payment.
In addition to the cash purchase price,
the Company agreed to issue 1,509,307 shares of its common stock to the holders of Senior Series 2009A Debentures (the "2009A
Debentures") at an agreed price of $1.50 per share, for the payment of accrued and unpaid interest on the 2009A Debentures,
subject to adjustment in certain limited circumstances. Hunter Drilling also agreed to issue Senior Secured Convertible Debentures
with a term of approximately eight years that accrue interest at a rate of 6% per annum (the "Senior Secured Debentures")
to the holders of 2009A Debentures in the aggregate principal amount of $25,955,000 (the aggregate principal amount of debt held
by such holders), subject to adjustment for (A) those 2009A Debentures that have been acquired by the Company in exchange for
issuing shares of its common stock (the "Exchanged Senior Debentures") and (B) those 2009A Debentures that are redeemed
with cash provided by Hunter Drilling at Closing. Hunter Drilling agreed to either acquire $2,345,000 in principal amount of 2009A
Debentures prior to Closing or to tender cash to acquire 2009A Debentures in a principal amount equal to the difference between
the $2,345,000 and the principal amount of Exchanged Senior Debentures. Principal and interest on the Senior Secured Debentures
will be paid quarterly based on an approximately eight year amortization schedule. The Senior Secured Debentures shall be secured
by a first priority lien on the Purchased Assets, subject to certain exceptions. The Senior Secured Debentures are subject to
conversion after the Closing, in whole or in part at the option of the holders, into shares of the Company's common stock
at a conversion price of $2.00 per share of common stock until the first anniversary of the Closing, with an increase in the conversion
price of $0.50 per share on each subsequent anniversary of Closing until maturity, each subject to adjustment in certain limited
circumstances. The Senior Secured Debentures can be prepaid without premium or penalty, subject to prior notice. In addition,
Hunter Drilling is required to conduct a dutch auction on an annual basis that uses all excess cash of Hunter Drilling to purchase
Senior Secured Debentures.
2
As part of the purchase price, the
Company also agreed to issue 697,110 shares of its common stock to the holders of the Series 2009B Debentures (the
"2009B Debentures") at an agreed price of $1.50 per share, for the payment of accrued and unpaid interest on the
2009B Debentures, subject to adjustment in certain limited circumstances. In addition, Hunter Drilling agreed to issue Junior
Secured Debentures with a term of approximately nine years that accrue interest at a rate of 6% per annum (the "Junior
Secured Debentures") to the holders of the 2009B Debentures in the aggregate principal amount of $7,610,000 (the
aggregate principal amount of debt held by such holders), subject to adjustment for (A) those 2009B Debentures that have
been acquired by the Company in exchange for issuing shares of its common stock (the "Exchanged Junior
Debentures") and (B) those 2009B Debentures that are redeemed with cash provided by Hunter Drilling at Closing. Hunter
Drilling agreed to acquire either $1,050,000 in principal amount of the Exchanged Junior Debentures prior to Closing or to
tender cash to acquire 2009B Debentures in a principal amount equal to the difference between the $1,050,000 and the
principal amount of the Exchanged Junior Debentures. Interest on the Junior Secured Debentures will be paid quarterly based
on an approximately nine year amortization schedule and principal on the Junior Secured Debentures will be payable quarterly
commencing during approximately the seventh year of the amortization schedule. The Junior Secured Debentures shall be secured
by a subordinated lien on the Purchased Assets. The Junior Secured Debentures are subject to conversion after the Closing, in
whole or in part, at the option of the holders, into shares of the Company's common stock at a conversion price of
$2.00 per share of common stock until the first anniversary of the Closing, with an increase in the conversion price of $0.50
per share on each subsequent anniversary of Closing until maturity, each subject to adjustment in certain limited
circumstances. The Junior Secured Debentures can be prepaid without premium or penalty, subject to prior notice. In addition,
Hunter Drilling is required to conduct a dutch auction on an annual basis that uses all excess cash of Hunter Drilling to
purchase Junior Secured Debentures to the extent that there is any remaining excess cash after conducting the dutch auction
for the Senior Secured Debentures.
As part of the purchase price, Hunter Drilling
also agreed to issue a secured promissory note with a term of five years from the Closing (the "WSB Note") to Washington
State Bank ("WSB") at Closing in the principal amount of WSB's secured claim as of the Closing (which was approximately
$4,078,868.80 as of July 10, 2012) in repayment of a secured promissory note previously issued by the Sellers to WSB. Interest
on the WSB Note shall accrue at a floating rate equal to the prime rate plus two percent per annum;
provided
, that interest
shall be fixed at (i) 6% if the interest rate during any period would be less than 6% or (ii) 8% if the interest rate during any
period would be greater than 8%. Principal and interest on the WSB Note will be payable monthly based on a five year amortization
schedule. The WSB Note will be secured by a first priority lien on the Purchased Assets that presently secured WSB's secured
claim in the bankruptcy proceedings and a capital expenditure cash collateral account and restricted reserve account held by WSB.
The Purchase Agreement contains customary
representations, warranties and covenants and may be terminated by Hunter Drilling, FSB or Sellers if the Purchase Agreement is
not approved by the Bankruptcy Court or in the event that certain conditions are not satisfied within 30 days following the entry
of a confirmation order. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified
in its entirety by reference to the actual terms of the Purchase Agreement, which is filed as Exhibit 2.1 hereto and is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d)	Exhibits.
Exhibit
    No.
Description
    of Exhibit
2.1*
Asset
    Purchase Agreement, dated July 19, 2012, by and among Hunter Drilling, LLC, First Security Bank, as Trustee for the Holders
    of the Senior Series 2009A Debentures and the Series 2009B Debentures, Red Mountain Resources, Inc., O&G Leasing, LLC
    and Performance Drilling Company, LLC.
*Pursuant to Item 601(b)(2), the registrant agrees to furnish
supplementary a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request.
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.
Date:
July 25, 2012
RED MOUNTAIN RESOURCES, INC.
By:
/s/ Alan W. Barksdale
Alan W. Barksdale
Chief Executive Officer
4
EXHIBIT INDEX
Exhibit
    No.
Description
    of Exhibit
2.1*
Asset
    Purchase Agreement, dated July 19, 2012, by and among Hunter Drilling, LLC, First Security Bank, as Trustee for the Holders
    of the Senior Series 2009A Debentures and the Series 2009B Debentures, Red Mountain Resources, Inc., O&G Leasing, LLC
    and Performance Drilling Company, LLC.
*Pursuant to Item 601(b)(2), the registrant agrees to furnish
supplementary a copy of any omitted schedule or exhibit to the Securities and Exchange Commission upon request.
5