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  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED
  STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES
  AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington,
  D.C.&#160; 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
  to Section&nbsp;13 or 15(d)&nbsp;of</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">the
  Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of
  Report</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">May&nbsp;27,
  2008</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Date of earliest
  event reported)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">STRATUM
  HOLDINGS, INC.</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of
  registrant as specified in its charter)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Nevada</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.22%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">000-51229</font></b></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">51-0482104</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
    jurisdiction of</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.22%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
    Number)</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer</font></p>
    </td>
   </tr>
   <tr>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">incorporation or
    organization)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.22%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.1%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification
    Number)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div align="center">
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.96%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Three
    Riverway</font></b></p>
    </td>
    <td width="34%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:34.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.96%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Suite&nbsp;1500</font></b></p>
    </td>
    <td width="34%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:34.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.96%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Houston,
    Texas</font></b></p>
    </td>
    <td width="34%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:34.36%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">77056</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.96%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
    principal executive offices)</font></p>
    </td>
    <td width="34%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:34.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.68%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(713)
  479-7000</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant&#146;s
  telephone number, including area code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check
  the appropriate box below if the Form&nbsp;8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any of the
  following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font> Written communications pursuant to Rule&nbsp;425
  under the Securities Act (17 CFR 230.425)</p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font> Soliciting material pursuant to Rule&nbsp;14a-12
  under the Exchange Act (17 CFR 240.14a-12)</p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font> Pre-commencement communications pursuant to
  Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</p>
  
  <p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font> Pre-commencement communications pursuant to
  Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\c900132\08-15788-1\task2970310\15788-1-ba.htm',USER='c900132',CD='Jun  3 01:55 2008' -->
  
  
  
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  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">Item 4.01.&#160; Changes in Registrant&#146;s Certifying Accountant</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;21, 2008, PMB
  Helin Donovan, LLP (the &#147;Auditor&#148;) informed the Registrant in writing of its
  resignation as the Registrant&#146;s independent registered public accounting firm,
  effective immediately.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The reports of the Auditor
  on the Registrant&#146;s consolidated financial statements for the past two fiscal
  years contained no adverse opinion or disclaimer of opinion and were not
  qualified or modified as to uncertainty, audit scope or accounting principle.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the Registrant&#146;s two
  most recent fiscal years and through the date hereof, there have been no
  disagreements with the Auditor on any matter of accounting principles or
  practices, financial statement disclosure, or auditing scope or procedure, which
  disagreements if not resolved to the satisfaction of the Auditor, would have
  caused it to make reference to the subject matter of the disagreement in
  connection with its report.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the Registrant&#146;s two
  most recent fiscal years and through the date hereof, there have been no
  reportable events (as defined in Regulation S-K Item 304(a)(1)(v)), other than
  as follows: On May&nbsp;12, 2008, the Registrant filed a Quarterly Report on Form&nbsp;10-QSB
  for the quarter ended March&nbsp;31, 2008&#160;&#160;
  that included financial statements that were not reviewed by the
  Auditor. The Auditor discussed the Registrant&#146;s Form&nbsp;10-QSB filing for the
  quarter ended March&nbsp;31, 2008 with management on May&nbsp;19, 2008, and
  requested that the Registrant file a Current Report on Form&nbsp;8-K regarding
  non-reliance on the financial statements in that filing.&#160; Under Regulation S-B Item 304(a)(1)(iv)(A)&nbsp;this
  matter was not resolved to the satisfaction of the Auditor.&#160; Under Regulation S-B Item
  304(a)(1)(iv)(B)(2), the lack of timely notice of non-reliance led the Auditor
  to be unwilling to be associated with the March&nbsp;31, 2008 financial
  statements prepared by management and included in the Registrant&#146;s Form&nbsp;10-QSB
  filing. The Auditor advised the Registrant of its desire to discuss this matter
  with the Chairman of the Board and the members of the Registrant&#146;s audit
  committee.&#160; However, the Auditor was
  informed that those individuals were in the process of resigning from their
  positions with the Registrant, as further described in Item 5.02 of this
  Current Report on Form&nbsp;8-K.&#160; For the
  foregoing reasons, the Auditor disclaims any responsibility with respect to the
  Quarterly Report on Form&nbsp;10-QSB for the quarter ended March&nbsp;31, 2008.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Except as indicated in the
  fourth paragraph of Exhibit 16 of this Form 8-K, t</font><font size="2" style="font-size:10.0pt;">he Auditor has indicated to
  the Registrant that it concurs with the foregoing statements as they relate to
  the Auditor and has furnished a letter to the Securities and Exchange
  Commission to this effect. A copy of this letter is attached as Exhibit&nbsp;16
  to this Current Report on Form&nbsp;8-K.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As of the date of this
  Current Report on Form&nbsp;8-K, the Registrant has not engaged a new
  independent registered public accounting firm.&#160;
  The Registrant intends to engage a new independent registered public
  accounting firm, which will be disclosed in a subsequent Current Report on Form&nbsp;8-K,
  and such firm will review the Quarterly Reports on Form&nbsp;10-QSB for the
  quarterly period ending June&nbsp;30, 2008 and for the quarterly period ended March&nbsp;31,
  2008.&#160; If necessary, the Registrant will
  file an amendment to its Quarterly Report on Form&nbsp;10-QSB for the quarterly
  period ended March&nbsp;31, 2008 once its new registered public accounting firm
  has completed its review of that report.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">Item 5.01.&#160; Change in Control of Registrant</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">Item
  5.02.&#160; Departure of Directors or Certain
  Officers; Election of Directors; Appointment of Certain Officers; Compensatory
  Arrangements with Certain Officers</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective May&nbsp;27, 2008,
  <font style="letter-spacing:-.1pt;">Michael W. Hopkins, Frederick A. Huttner,
  Sheryl Huttner, Huttner 1999 Partnership Ltd., Richard A. Piske,&nbsp;III, and
  Robert G. Wonish (collectively the &#147;Sellers&#148;)</font> entered into a Stock
  Purchase Agreement (the &#147;Purchase Agreement&#148;) with Larry M. Wright for the sale
  by the Sellers to Mr.&nbsp;Wright of 11,837,857 shares (the &#147;Shares&#148;) of common
  stock, par value $0.001 per share, of the </font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
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  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant for an aggregate purchase price of
  $887,839.28 (the &#147;Transaction&#148;).&#160; Prior
  to the Transaction, Mr.&nbsp;Wright owned approximately 8.5% of the Registrant&#146;s
  issued and outstanding common stock.&#160;
  After the Transaction, he owns approximately 53.5% of the Registrant&#146;s
  issued and outstanding common stock, thereby giving him control of the
  Registrant.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Two-thirds of the purchase
  price for the Shares ($591,892.85) was paid in cash at closing, and the
  remaining one-third of the purchase price ($295,946.43) for the Shares will be
  paid by December&nbsp;31, 2008 pursuant to the terms of promissory notes
  between Mr.&nbsp;Wright and each Seller.&#160;
  As security for the performance of his obligations under each promissory
  note, Mr.&nbsp;Wright granted to each Seller a security interest in one-third
  of the shares of common stock he acquired from such Seller.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the
  Transaction, the Board of Directors of the Registrant appointed Mr.&nbsp;Wright
  as the President and Chief Executive Officer of the Registrant, effective as of
  the closing of the Transaction.&#160; Mr.&nbsp;Wright,
  63, served as a director of the Registrant and as Chief Executive Officer of
  its subsidiaries prior to this appointment.&#160;
  He began his career in the oil and gas industry with UNOCAL in
  1966.&#160; Mr.&nbsp;Wright has been
  affiliated with Sabine Gas Transmission since 1985 and was a founder, CEO and
  President of PANACO,&nbsp;Inc., a public oil and gas company based in Houston,
  Texas.&#160; He served as President and CEO of
  The CYMRI Corporation from its founding until its merger with CYMRI, L.L.C. (&#147;CYMRI&#148;),
  a wholly-owned subsidiary of the Registrant, in March&nbsp;2006.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition, effective as of
  the closing of the Transaction, the following Sellers resigned their positions
  as directors and/or officers of the Registrant and/or its subsidiaries,
  effective as of May&nbsp;27, 2008:&#160;
  Frederick A. Huttner, the Registrant&#146;s former Chairman of the Board,
  resigned his positions as a director of the Registrant, as a manager and Vice
  President of CYMRI, and as a director of Triumph Energy,&nbsp;Inc. (&#147;Triumph&#148;),
  a wholly-owned subsidiary of CYMRI; Michael W. Hopkins resigned his positions
  as a director of the Registrant and as a manager and Vice President of CYMRI; and
  Robert G. Wonish resigned his positions as a director and the President of
  Triumph.&#160; Although not a party to the
  Transaction, Jesse Marion resigned his positions as a director of the
  Registrant and as a manager of CYMRI, and David B. Russell resigned his
  position as a director of the Registrant, in each case effective as of May&nbsp;27,
  2008.&#160; At the time of their resignations,
  Messrs.&nbsp;Marion and Russell were the only independent directors of the
  Registrant and were the sole members of its audit committee.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March&nbsp;31, 2008,
  Robert G. Wonish resigned as a director of the Registrant and as the President
  of CYMRI.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;letter-spacing:-.1pt;">Item 9.01.&#160; Financial Statements and Exhibits</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.1pt;">(d)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="13%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:13.34%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Exhibit&nbsp;Number</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:-.1pt;">&nbsp;</font></b></p>
    </td>
    <td width="84%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:84.44%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Title of
    Document</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="13%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:13.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="84%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:84.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="13%" valign="top" style="padding:0in 0in 0in 0in;width:13.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">16</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.22%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.15pt;">&nbsp;</font></p>
    </td>
    <td width="84%" valign="top" style="padding:0in 0in 0in 0in;width:84.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">Letter regarding resignation of </font><font size="2" style="font-size:10.0pt;">PMB Helin
    Donovan, LLP as <font style="letter-spacing:-.15pt;">certifying accountant </font>dated
    June&nbsp;2, 2008.</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\rcheney\08-15788-1\task2971369\15788-1-bc.htm',USER='rcheney',CD='Jun  3 08:12 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">&nbsp;</font></b></h2>
  
  <h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURES</font></b></h2>
  
  <h2 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h2>
  
  <p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.92%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.9%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">STRATUM HOLDINGS, INC.</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:49.16%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;3, 2008</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:45.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ </font><font size="2" style="font-size:10.0pt;">D. Hughes
    Watler,&nbsp;Jr.</font></p>
    </td>
   </tr>
   <tr>
    <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:45.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name: D. Hughes Watler,&nbsp;Jr.</font></p>
    </td>
   </tr>
   <tr>
    <td width="47%" valign="top" style="padding:0in 0in 0in 0in;width:47.92%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.9%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="45%" valign="top" style="padding:0in 0in 0in 0in;width:45.58%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title: Chief Financial Officer</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\rcheney\08-15788-1\task2971369\15788-1-bc.htm',USER='rcheney',CD='Jun  3 08:12 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;Index</font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="11%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:11.84%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Exhibit&nbsp;Number</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;letter-spacing:-.1pt;">&nbsp;</font></b></p>
    </td>
    <td width="85%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:85.84%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;letter-spacing:-.1pt;">Title of
    Document</font></b></p>
    </td>
   </tr>
   <tr>
    <td width="11%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:11.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="85%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:85.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="11%" valign="top" style="padding:0in 0in 0in 0in;width:11.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">16</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.32%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;letter-spacing:-.15pt;">&nbsp;</font></p>
    </td>
    <td width="85%" valign="top" style="padding:0in 0in 0in 0in;width:85.84%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;letter-spacing:-.15pt;">Letter regarding resignation of </font><font size="2" style="font-size:10.0pt;">PMB Helin
    Donovan, LLP as <font style="letter-spacing:-.15pt;">certifying accountant </font>dated
    June&nbsp;2, 2008.</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\rcheney\08-15788-1\task2971369\15788-1-bc.htm',USER='rcheney',CD='Jun  3 08:12 2008' -->
  
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-15788_18k.htm", "description": "8-K", "secsgml_size_bytes": 39650}]
metadata_filer: {"company-data": {"conformed-name": "STRATUM HOLDINGS, INC.", "cik": "0001277998", "assigned-sic": "7361", "irs-number": "510482104", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-51229", "film-number": "08876253"}, "business-address": {"street1": "THREE RIVERWAY, SUITE 1500", "city": "HOUSTON", "state": "TX", "zip": "77056", "phone": "(713) 479-7000"}, "mail-address": {"street1": "THREE RIVERWAY, SUITE 1500", "city": "HOUSTON", "state": "TX", "zip": "77056"}, "former-company": [{"former-conformed-name": "Stratum Holdings, INC.", "date-changed": "20070319"}, {"former-conformed-name": "TRADESTAR SERVICES, INC.", "date-changed": "20051013"}, {"former-conformed-name": "FRONTIER STAFFING INC", "date-changed": "20040129"}]}
text: 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
  May 27,
  2008
  (Date of earliest
  event reported)
  STRATUM
  HOLDINGS, INC.
  (Exact name of
  registrant as specified in its charter)
  Nevada
  000-51229
  51-0482104
  (State or other
    jurisdiction of
  (Commission File
    Number)
  (I.R.S. Employer
  incorporation or
    organization)
  Identification
    Number)
  Three
    Riverway
  Suite 1500
  Houston,
    Texas
  77056
  (Address of
    principal executive offices)
  (Zip Code)
  (713)
  479-7000
  (Registrant's
  telephone number, including area code)
  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:
  o
  Written communications pursuant to Rule 425
  under the Securities Act (17 CFR 230.425)
  o
  Soliciting material pursuant to Rule 14a-12
  under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement communications pursuant to
  Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  o
  Pre-commencement communications pursuant to
  Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Item 4.01.  Changes in Registrant's Certifying Accountant
  On May 21, 2008, PMB
  Helin Donovan, LLP (the "Auditor") informed the Registrant in writing of its
  resignation as the Registrant's independent registered public accounting firm,
  effective immediately.
  The reports of the Auditor
  on the Registrant's consolidated financial statements for the past two fiscal
  years contained no adverse opinion or disclaimer of opinion and were not
  qualified or modified as to uncertainty, audit scope or accounting principle.
  During the Registrant's two
  most recent fiscal years and through the date hereof, there have been no
  disagreements with the Auditor on any matter of accounting principles or
  practices, financial statement disclosure, or auditing scope or procedure, which
  disagreements if not resolved to the satisfaction of the Auditor, would have
  caused it to make reference to the subject matter of the disagreement in
  connection with its report.
  During the Registrant's two
  most recent fiscal years and through the date hereof, there have been no
  reportable events (as defined in Regulation S-K Item 304(a)(1)(v)), other than
  as follows: On May 12, 2008, the Registrant filed a Quarterly Report on Form 10-QSB
  for the quarter ended March 31, 2008  
  that included financial statements that were not reviewed by the
  Auditor. The Auditor discussed the Registrant's Form 10-QSB filing for the
  quarter ended March 31, 2008 with management on May 19, 2008, and
  requested that the Registrant file a Current Report on Form 8-K regarding
  non-reliance on the financial statements in that filing.  Under Regulation S-B Item 304(a)(1)(iv)(A) this
  matter was not resolved to the satisfaction of the Auditor.  Under Regulation S-B Item
  304(a)(1)(iv)(B)(2), the lack of timely notice of non-reliance led the Auditor
  to be unwilling to be associated with the March 31, 2008 financial
  statements prepared by management and included in the Registrant's Form 10-QSB
  filing. The Auditor advised the Registrant of its desire to discuss this matter
  with the Chairman of the Board and the members of the Registrant's audit
  committee.  However, the Auditor was
  informed that those individuals were in the process of resigning from their
  positions with the Registrant, as further described in Item 5.02 of this
  Current Report on Form 8-K.  For the
  foregoing reasons, the Auditor disclaims any responsibility with respect to the
  Quarterly Report on Form 10-QSB for the quarter ended March 31, 2008.
  Except as indicated in the
  fourth paragraph of Exhibit 16 of this Form 8-K, t
  he Auditor has indicated to
  the Registrant that it concurs with the foregoing statements as they relate to
  the Auditor and has furnished a letter to the Securities and Exchange
  Commission to this effect. A copy of this letter is attached as Exhibit 16
  to this Current Report on Form 8-K.
  As of the date of this
  Current Report on Form 8-K, the Registrant has not engaged a new
  independent registered public accounting firm. 
  The Registrant intends to engage a new independent registered public
  accounting firm, which will be disclosed in a subsequent Current Report on Form 8-K,
  and such firm will review the Quarterly Reports on Form 10-QSB for the
  quarterly period ending June 30, 2008 and for the quarterly period ended March 31,
  2008.  If necessary, the Registrant will
  file an amendment to its Quarterly Report on Form 10-QSB for the quarterly
  period ended March 31, 2008 once its new registered public accounting firm
  has completed its review of that report.
  Item 5.01.  Change in Control of Registrant
  Item
  5.02.  Departure of Directors or Certain
  Officers; Election of Directors; Appointment of Certain Officers; Compensatory
  Arrangements with Certain Officers
  Effective May 27, 2008,
  Michael W. Hopkins, Frederick A. Huttner,
  Sheryl Huttner, Huttner 1999 Partnership Ltd., Richard A. Piske, III, and
  Robert G. Wonish (collectively the "Sellers")
  entered into a Stock
  Purchase Agreement (the "Purchase Agreement") with Larry M. Wright for the sale
  by the Sellers to Mr. Wright of 11,837,857 shares (the "Shares") of common
  stock, par value $0.001 per share, of the
  2
  Registrant for an aggregate purchase price of
  $887,839.28 (the "Transaction").  Prior
  to the Transaction, Mr. Wright owned approximately 8.5% of the Registrant's
  issued and outstanding common stock. 
  After the Transaction, he owns approximately 53.5% of the Registrant's
  issued and outstanding common stock, thereby giving him control of the
  Registrant.
  Two-thirds of the purchase
  price for the Shares ($591,892.85) was paid in cash at closing, and the
  remaining one-third of the purchase price ($295,946.43) for the Shares will be
  paid by December 31, 2008 pursuant to the terms of promissory notes
  between Mr. Wright and each Seller. 
  As security for the performance of his obligations under each promissory
  note, Mr. Wright granted to each Seller a security interest in one-third
  of the shares of common stock he acquired from such Seller.
  In connection with the
  Transaction, the Board of Directors of the Registrant appointed Mr. Wright
  as the President and Chief Executive Officer of the Registrant, effective as of
  the closing of the Transaction.  Mr. Wright,
  63, served as a director of the Registrant and as Chief Executive Officer of
  its subsidiaries prior to this appointment. 
  He began his career in the oil and gas industry with UNOCAL in
  1966.  Mr. Wright has been
  affiliated with Sabine Gas Transmission since 1985 and was a founder, CEO and
  President of PANACO, Inc., a public oil and gas company based in Houston,
  Texas.  He served as President and CEO of
  The CYMRI Corporation from its founding until its merger with CYMRI, L.L.C. ("CYMRI"),
  a wholly-owned subsidiary of the Registrant, in March 2006.
  In addition, effective as of
  the closing of the Transaction, the following Sellers resigned their positions
  as directors and/or officers of the Registrant and/or its subsidiaries,
  effective as of May 27, 2008: 
  Frederick A. Huttner, the Registrant's former Chairman of the Board,
  resigned his positions as a director of the Registrant, as a manager and Vice
  President of CYMRI, and as a director of Triumph Energy, Inc. ("Triumph"),
  a wholly-owned subsidiary of CYMRI; Michael W. Hopkins resigned his positions
  as a director of the Registrant and as a manager and Vice President of CYMRI; and
  Robert G. Wonish resigned his positions as a director and the President of
  Triumph.  Although not a party to the
  Transaction, Jesse Marion resigned his positions as a director of the
  Registrant and as a manager of CYMRI, and David B. Russell resigned his
  position as a director of the Registrant, in each case effective as of May 27,
  2008.  At the time of their resignations,
  Messrs. Marion and Russell were the only independent directors of the
  Registrant and were the sole members of its audit committee.
  On March 31, 2008,
  Robert G. Wonish resigned as a director of the Registrant and as the President
  of CYMRI.
  Item 9.01.  Financial Statements and Exhibits
  (d)
  Exhibit Number
  Title of
    Document
  16
  Letter regarding resignation of
  PMB Helin
    Donovan, LLP as
  certifying accountant
  dated
    June 2, 2008.
  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.
  STRATUM HOLDINGS, INC.
  June 3, 2008
  By:
  /s/
  D. Hughes
    Watler, Jr.
  Name: D. Hughes Watler, Jr.
  Title: Chief Financial Officer
  4
  Exhibit Index
  Exhibit Number
  Title of
    Document
  16
  Letter regarding resignation of
  PMB Helin
    Donovan, LLP as
  certifying accountant
  dated
    June 2, 2008.
  5