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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt 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, DC 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: 18pt 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>&nbsp;</B></P>

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

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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>May 23, 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"><FONT STYLE="font-size: 18pt"><B>AMERICAN
EAGLE ENERGY CORPORATION</B></FONT></P>
<HR SIZE="1" STYLE="color: Black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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

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    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">Nevada</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">000-50906</TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">20-0237026</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(State or other jurisdiction <BR> of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(Commission <BR> File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(IRS Employer <BR> Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt; font-weight: bold">2549 W. Main Street, Suite 202, Littleton, CO&nbsp; 80120</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(Address of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; (Zip Code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(303) 798-5235</B></P>

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

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    <TD STYLE="width: 100%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; font-size: 10pt">(Former name or former address, if changed since last report)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

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    <TD STYLE="width: 3%; text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SECTION 8 &ndash; OTHER EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 <FONT STYLE="color: black">Other Events.</FONT></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">1. On May 23, 2012, we provided an update
on our Spyglass Bakken and Three Forks Projects in Divide County, North Dakota.</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">We put our first operated well, the
Christianson 15-12-163-101 well (&ldquo;Christianson 15-12&rdquo;), on production from the Three Forks Formation after
completing a cleanout of the lateral section and installing production equipment. The well has produced an average of
approximately 625 barrels of oil per day (&ldquo;BOPD&rdquo;), with a current oil cut of 50% after four days of production
and recovery of about 10% of the load water.</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">Our Cody 15-11-163-101 well (&ldquo;Cody
15-11&rdquo;) is located one mile west of the Christianson 15-12 and is currently on flowback following completion of the stimulation
of the Three Forks zone on May 21<SUP>st</SUP>. The Coplan 1-3-163-101 (&ldquo;Coplan 1-3&rdquo;) is currently drilling horizontally
in the Three Forks Formation, with approximately 3000 feet completed in the planned 9600&rsquo; lateral section. All three of these
wells are in adjacent 1280 acre spacing units.</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">We own approximate working interests of
35%, 35%, and 13% in the Christianson, Cody and Coplan wells, respectively. All three of these wells are subject to the recently
announced financing agreement, pursuant to which our costs of drilling, completing and equipping each of the wells (subject to
certain limitations) are to be fully funded by our financing partner.</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">We expect to continue our
development program in additional spacing units to the west and north during the remainder of 2012, including our first
Middle Bakken well in the fourth quarter. The next two wells on the drilling schedule are expected to be drilled from a
common surface pad in the adjacent unit to the west of the Coplan 1-3. The Anton 4-4-163-101 well, in which we own a 44%
working interest, will be drilled to the south in Sections 4 and 9. The Elizabeth 4-4N-163-101 well, in which we own a 38%
working interest, will be drilled to the north to develop Sections 28 and 33 in T164N-101W. These two wells are also subject
to the same, recently announced financing agreement.</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">We have participated in several
significant outside operated wells within the Spyglass area. SM Energy has recently completed drilling and casing the Adams
1-18H well as an east offset to the Christianson 15-12. The Adams 1-18H well was fracture stimulated on May 28<SUP>th</SUP>
and has begun flowback operations. SM Energy has also completed drilling and casing the Gublranson 2-1H, approximately six
miles east of the Adams 1-18H location. The Gulbranson well is a direct offset to the Nomad 6-7-163-99H well (&ldquo;Nomad
6-7&rdquo;) that is operated by Samson Resources. The Nomad well was completed in March with an initial flow rate of more
than 900 BOPD. The well was recently cleaned out and put on pump at an average rate of 515 BOPD with a 68% oil cut. American
Eagle owns 19%, 12%, and 14% working interest in the Adams, Gulbranson and Nomad wells, respectively.</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">2. On May 30, 2012, we provided additional
production information on our Spyglass Bakken and Three Forks Projects in Divide County, North Dakota, following our May 23, 2012
news announcement.</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">Our Cody 15-11, which was fracture stimulated
on May 21<SUP>st</SUP>, has flowed at an average rate of approximately 602 BOPD, 571 thousand cubic feet of gas per day (MCFPD)
and 752 barrels of water per day (BWPD) over the last five days. The well is currently producing with a 56% oil cut. We expect
to continue flowing the well for a short period prior to shutting it in to install pump equipment and surface production facilities.</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 Christianson 15-12, has been producing
on pump with average rates of 595 BOPD, 385 MCFPD and 574 BWPD over the last ten days. The producing oil cut on the well has increased
to approximately 60%. Both of these wells are producing from the Three Forks Formation.</P>

<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">Copies of our press releases dated May 23,
2012, and May 30, 2012, are furnished and attached to this Current Report as Exhibits 99.1 and 99.2, respectively.</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"><B>SECTION 9 &ndash; FINANCIAL STATEMENTS AND EXHIBITS</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"><B>Item 9.01 <FONT STYLE="color: black">Financial Statements
and Exhibits.</FONT></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"><B>(d) Exhibits</B></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: 9%; padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">Exhibit</TD>
    <TD STYLE="width: 91%; padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">Description of Exhibit</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">99.1</TD>
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">Registrant&rsquo;s Press Release Dated May 23, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">99.2</TD>
    <TD STYLE="padding: 0; font-size: 10pt; font-weight: bold; text-indent: 0">Registrant&rsquo;s Press Release Dated May 30, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</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-align: center"><B>SIGNATURE</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="padding: 0; font-size: 10pt; text-indent: 0">Date:&nbsp; June 8, 2012</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">AMERICAN EAGLE ENERGY CORPORATION</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 42%; vertical-align: top; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 6%; vertical-align: bottom; padding: 0; font-size: 10pt; text-indent: 0">By:</TD>
    <TD STYLE="width: 52%; vertical-align: bottom; padding: 0; font-size: 10pt; text-decoration: underline; text-indent: 0">/s/ Bradley Colby&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">Bradley Colby</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; padding: 0; text-indent: 0">President and Chief Executive Officer</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"></P>

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{"company-data": {"conformed-name": "AMERICAN EAGLE ENERGY Corp", "cik": "0001282613", "assigned-sic": "1000", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50906", "film-number": "12896978"}, "business-address": {"street1": "2120 WEST LITTLETON BLVD.,", "street2": "SUITE 300", "city": "LITTLETON,", "state": "CO", "zip": "80120", "phone": "(303) 385-1230"}, "mail-address": {"street1": "2120 WEST LITTLETON BLVD.,", "street2": "SUITE 300", "city": "LITTLETON,", "state": "CO", "zip": "80120"}, "former-company": [{"former-conformed-name": "Eternal Energy Corp.", "date-changed": "20051118"}, {"former-conformed-name": "GOLDEN HOPE RESOURCES CORP", "date-changed": "20040303"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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)
May 23, 2012
AMERICAN
EAGLE ENERGY CORPORATION
(Exact name of registrant as specified in
its charter)
Nevada
000-50906
20-0237026
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
2549 W. Main Street, Suite 202, Littleton, CO  80120
(Address of principal executive offices)                    (Zip Code)
Registrant's telephone number, including
area code:
(303) 798-5235
(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:
¨
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))
SECTION 8 – OTHER EVENTS
Item 8.01
Other Events.
1. On May 23, 2012, we provided an update
on our Spyglass Bakken and Three Forks Projects in Divide County, North Dakota.
We put our first operated well, the
Christianson 15-12-163-101 well ("Christianson 15-12"), on production from the Three Forks Formation after
completing a cleanout of the lateral section and installing production equipment. The well has produced an average of
approximately 625 barrels of oil per day ("BOPD"), with a current oil cut of 50% after four days of production
and recovery of about 10% of the load water.
Our Cody 15-11-163-101 well ("Cody
15-11") is located one mile west of the Christianson 15-12 and is currently on flowback following completion of the stimulation
of the Three Forks zone on May 21
st
. The Coplan 1-3-163-101 ("Coplan 1-3") is currently drilling horizontally
in the Three Forks Formation, with approximately 3000 feet completed in the planned 9600' lateral section. All three of these
wells are in adjacent 1280 acre spacing units.
We own approximate working interests of
35%, 35%, and 13% in the Christianson, Cody and Coplan wells, respectively. All three of these wells are subject to the recently
announced financing agreement, pursuant to which our costs of drilling, completing and equipping each of the wells (subject to
certain limitations) are to be fully funded by our financing partner.
We expect to continue our
development program in additional spacing units to the west and north during the remainder of 2012, including our first
Middle Bakken well in the fourth quarter. The next two wells on the drilling schedule are expected to be drilled from a
common surface pad in the adjacent unit to the west of the Coplan 1-3. The Anton 4-4-163-101 well, in which we own a 44%
working interest, will be drilled to the south in Sections 4 and 9. The Elizabeth 4-4N-163-101 well, in which we own a 38%
working interest, will be drilled to the north to develop Sections 28 and 33 in T164N-101W. These two wells are also subject
to the same, recently announced financing agreement.
We have participated in several
significant outside operated wells within the Spyglass area. SM Energy has recently completed drilling and casing the Adams
1-18H well as an east offset to the Christianson 15-12. The Adams 1-18H well was fracture stimulated on May 28
th
and has begun flowback operations. SM Energy has also completed drilling and casing the Gublranson 2-1H, approximately six
miles east of the Adams 1-18H location. The Gulbranson well is a direct offset to the Nomad 6-7-163-99H well ("Nomad
6-7") that is operated by Samson Resources. The Nomad well was completed in March with an initial flow rate of more
than 900 BOPD. The well was recently cleaned out and put on pump at an average rate of 515 BOPD with a 68% oil cut. American
Eagle owns 19%, 12%, and 14% working interest in the Adams, Gulbranson and Nomad wells, respectively.
2. On May 30, 2012, we provided additional
production information on our Spyglass Bakken and Three Forks Projects in Divide County, North Dakota, following our May 23, 2012
news announcement.
Our Cody 15-11, which was fracture stimulated
on May 21
st
, has flowed at an average rate of approximately 602 BOPD, 571 thousand cubic feet of gas per day (MCFPD)
and 752 barrels of water per day (BWPD) over the last five days. The well is currently producing with a 56% oil cut. We expect
to continue flowing the well for a short period prior to shutting it in to install pump equipment and surface production facilities.
The Christianson 15-12, has been producing
on pump with average rates of 595 BOPD, 385 MCFPD and 574 BWPD over the last ten days. The producing oil cut on the well has increased
to approximately 60%. Both of these wells are producing from the Three Forks Formation.
Copies of our press releases dated May 23,
2012, and May 30, 2012, are furnished and attached to this Current Report as Exhibits 99.1 and 99.2, respectively.
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SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01
Financial Statements
and Exhibits.
(d) Exhibits
Exhibit
Description of Exhibit
99.1
Registrant's Press Release Dated May 23, 2012
99.2
Registrant's Press Release Dated May 30, 2012
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.
Date:  June 8, 2012
AMERICAN EAGLE ENERGY CORPORATION
By:
/s/ Bradley Colby
Bradley Colby
President and Chief Executive Officer
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