SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  F O R M 8 - K

                                 CURRENT REPORT


          Pursuant to Section 13 or 15(d) of the Securities Act of 1934


Date of Report (date of earliest event reported) February 12, 1997



                              COLUMBUS ENERGY CORP.
             (Exact name of registrant as specified in its charter)


       Colorado                       1-9872                      84-0891713
(State or other jurisdiction       (Commission                  (IRS Employer
      of incorporation)            File Number)                 Identification
                                                                      No.)


                 1660 Lincoln Street, Denver Colorado     80264
               (Address of Principal executive offices) (Zip Code)


                                 (303) 861-5252
              (Registrant's telephone number, including area code)


                                    No Change
          (Former name or former address, if changed since last report)
<PAGE>

ITEM 5. OTHER EVENTS

     On February 11, 1997 the Columbus Energy Corp.  Board of Directors voted to
withdraw its previously filed  registration  statement  covering the offering to
its  shareholders  of 400,000 shares of Series A 7% Convertible  Preferred Stock
with a $25 per share  redemption  value.  Several  factors  contributed  to this
decision  which included  significantly  higher prices for natural gas and crude
oil  received  over the past four months  along with the increase in its natural
gas production and sales revenues as a result of new gas wells completed  during
the past few months. These contributed to the significant  reduction of its bank
debt from $3.2 million at the end of the third quarter to $2.2 million as of its
year end on November 30, 1996,  and to only $1.6 million as of January 31, 1997,
which payments were out of cash flow which has averaged about $600,000 per month
during that five-month period.  Also contributing to the Board's decision was an
unexplained  recent  weakness  in the  price of  Columbus'  common  shares  when
compared  to that of its  peers  despite  the  fact  that  its  1996  U.S.  only
operations have yielded record results in terms of oil and gas sales,  cash flow
(in total and on a per share  basis),  and net  earnings  per  share.  The Board
believed this would have forced pricing of convertibility ratio of the Preferred
Shares at an unacceptable level.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

     (C) Exhibits:

        No. 28 -    Columbus Energy Corp. press release dated February 12, 1997.

        No. 28(a)-  Company  letter dated  February 12, 1997 to  Securities  and
                    Exchange Commission withdrawing the registration statement.


                                    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 thereunto duly authorized.

                                            COLUMBUS ENERGY CORP.
                                            (Registrant)

DATE:   February 13, 1997                            BY: /s/ H. C. Gutjahr
     ------------------------                           ------------------
                                                     H. C. Gutjahr
                                                     Corporate Secretary
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SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  F O R M 8 - K

                                 CURRENT REPORT

          Pursuant to Section 13 or 15(d) of the Securities Act of 1934

Date of Report (date of earliest event reported) February 12, 1997

                              COLUMBUS ENERGY CORP.
             (Exact name of registrant as specified in its charter)

       Colorado                       1-9872                      84-0891713
(State or other jurisdiction       (Commission                  (IRS Employer
      of incorporation)            File Number)                 Identification
                                                                      No.)

                 1660 Lincoln Street, Denver Colorado     80264
               (Address of Principal executive offices) (Zip Code)

                                 (303) 861-5252
              (Registrant's telephone number, including area code)

                                    No Change
          (Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS

     On February 11, 1997 the Columbus Energy Corp.  Board of Directors voted to
withdraw its previously filed  registration  statement  covering the offering to
its  shareholders  of 400,000 shares of Series A 7% Convertible  Preferred Stock
with a $25 per share  redemption  value.  Several  factors  contributed  to this
decision  which included  significantly  higher prices for natural gas and crude
oil  received  over the past four months  along with the increase in its natural
gas production and sales revenues as a result of new gas wells completed  during
the past few months. These contributed to the significant  reduction of its bank
debt from $3.2 million at the end of the third quarter to $2.2 million as of its
year end on November 30, 1996,  and to only $1.6 million as of January 31, 1997,
which payments were out of cash flow which has averaged about $600,000 per month
during that five-month period.  Also contributing to the Board's decision was an
unexplained  recent  weakness  in the  price of  Columbus'  common  shares  when
compared  to that of its  peers  despite  the  fact  that  its  1996  U.S.  only
operations have yielded record results in terms of oil and gas sales,  cash flow
(in total and on a per share  basis),  and net  earnings  per  share.  The Board
believed this would have forced pricing of convertibility ratio of the Preferred
Shares at an unacceptable level.

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS

     (C) Exhibits:

        No. 28 -    Columbus Energy Corp. press release dated February 12, 1997.

        No. 28(a)-  Company  letter dated  February 12, 1997 to  Securities  and
                    Exchange Commission withdrawing the registration statement.

                                    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 thereunto duly authorized.

                                            COLUMBUS ENERGY CORP.
                                            (Registrant)

DATE:   February 13, 1997                            BY: /s/ H. C. Gutjahr
     ------------------------                           ------------------
                                                     H. C. Gutjahr
                                                     Corporate Secretary