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<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">UNITED
STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>Washington, DC
20549</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">FORM
8-K<BR>CURRENT REPORT</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">Pursuant to
Section 13 Or 15 (d) of the Securities Exchange Act of 1934</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">Date of Report
(date of earliest event reported): July 22, 2008</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-SIZE: 16pt; FONT-FAMILY: 'Arial','sans-serif'">JMG Exploration,
Inc.</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">(Exact name of
Registrant as specified in its charter)</FONT></P>
<DIV align=center>
<TABLE style="WIDTH: 442.45pt" cellSpacing=0 cellPadding=0 width=590>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 33.12%; PADDING-TOP: 5.25pt"
vAlign=top width="33%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 6pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Nevada</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 6pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">(State or other
jurisdiction of incorporation or organization)</FONT></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 37.7%; PADDING-TOP: 5.25pt"
vAlign=top width="37%" colSpan=2>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 6pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">001-32438
</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 6pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">(Commission
File Number)</FONT></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 28.48%; PADDING-TOP: 5.25pt"
vAlign=top width="28%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 6pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">20-1373949</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 6pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">(IRS employer
identification no.)</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: medium none; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: medium none"
width=0%>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'">&nbsp;</P></TD></TR>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 54.16%; PADDING-TOP: 5.25pt"
vAlign=top width="54%" colSpan=2>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">180 South
Lake Ave.</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">Seventh
Floor</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Pasadena</FONT></B><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">, CA</FONT></B><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'"></FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 45.84%; PADDING-TOP: 5.25pt"
vAlign=bottom width="45%" colSpan=3>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">91101</FONT></B></P></TD></TR>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 54.16%; PADDING-TOP: 5.25pt"
vAlign=top width="54%" colSpan=2>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">(Address of
principal executive offices)</FONT></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 45.84%; PADDING-TOP: 5.25pt"
vAlign=top width="45%" colSpan=3>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">(Zip
Code)</FONT></P></TD></TR>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 54.16%; PADDING-TOP: 5.25pt"
vAlign=top width="54%" colSpan=2>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Registrant&#8217;s telephone number,
including area code:</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 45.84%; PADDING-TOP: 5.25pt"
vAlign=bottom width="45%" colSpan=3>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">(626)
792-3842</FONT></B></P></TD></TR>
<TR height=0>
<TD
style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"
width=195></TD>
<TD
style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"
width=124></TD>
<TD
style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"
width=98></TD>
<TD
style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"
width=168></TD>
<TD
style="BORDER-RIGHT: medium none; BORDER-TOP: medium none; BORDER-LEFT: medium none; BORDER-BOTTOM: medium none"
width=4></TD></TR></TABLE></DIV>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-SIZE: 10pt; FONT-FAMILY: 'Arial','sans-serif'">&nbsp;(Registrant&#8217;s
former name or former address, if changed since last Report)</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Shruti','sans-serif'">&nbsp;</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in -9pt 0pt 0in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Shruti','sans-serif'">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:</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt 0.2in; TEXT-INDENT: -0.2in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: Wingdings">o</FONT><FONT
style="FONT-FAMILY: 'Shruti','sans-serif'">Written communications pursuant to
Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt 0.2in; TEXT-INDENT: -0.2in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: Wingdings">o</FONT><FONT
style="FONT-FAMILY: 'Shruti','sans-serif'">Soliciting material pursuant to Rule
14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt 0.2in; TEXT-INDENT: -0.2in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: Wingdings">o</FONT><FONT
style="FONT-FAMILY: 'Shruti','sans-serif'">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt 0.2in; TEXT-INDENT: -0.2in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: Wingdings">o</FONT><FONT
style="FONT-FAMILY: 'Shruti','sans-serif'">Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</FONT></P><B><U><FONT
style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman','serif'"><BR
style="PAGE-BREAK-BEFORE: always" clear=all></FONT></U></B>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: justify"><A
name=_Aci_Pg1></A><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">Item
9.01&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: justify"><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: justify"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">On July 22, 2008, JMG Exploration,
Inc. issued a press release reporting that Newco Group Ltd. has failed to repay
a $3 million loan and accrued interest and fees that were due July 10, 2008 and
that on July 22, 2008 JMG issued a formal notice of default. A copy of that
press release is attached to this report as Exhibit 99.1.</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: justify"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;(c) <B>Exhibits</B></FONT></P>
<TABLE style="WIDTH: 442.5pt" cellSpacing=0 cellPadding=0 width=590>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 16%; PADDING-TOP: 5.25pt"
vAlign=top width="16%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><B><FONT style="FONT-FAMILY: 'Arial','sans-serif'">Exhibit
<U>No.</U></FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 84%; PADDING-TOP: 5.25pt"
vAlign=bottom width="84%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><B><U><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Description</FONT></U></B></P></TD></TR>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 16%; PADDING-TOP: 5.25pt"
vAlign=bottom width="16%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">99.1</FONT></P></TD>
<TD
style="PADDING-RIGHT: 5.25pt; PADDING-LEFT: 5.25pt; PADDING-BOTTOM: 5.25pt; WIDTH: 84%; PADDING-TOP: 5.25pt"
vAlign=bottom width="84%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Press Release dated July 22,
2008</FONT></P></TD></TR></TABLE>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: justify"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></P><B><FONT
style="FONT-SIZE: 12pt; FONT-FAMILY: 'Arial','sans-serif'"><BR
style="PAGE-BREAK-BEFORE: always" clear=all></FONT></B>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'; TEXT-ALIGN: center"
align=center><A name=_Aci_Pg2></A><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">SIGNATURES</FONT></B></P>
<P
style="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; TEXT-INDENT: 0.5in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">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="FONT-SIZE: 12pt; MARGIN-LEFT: 0in; MARGIN-RIGHT: 0in; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></P>
<DIV align=center>
<TABLE style="WIDTH: 495.75pt" cellSpacing=0 cellPadding=0 width=661>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; WIDTH: 31.86%; PADDING-TOP: 0.75pt"
width="31%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Date: July 22,
2008</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; WIDTH: 48.14%; PADDING-TOP: 0.75pt"
width="48%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><B><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">JMG Exploration,
Inc.</FONT></B></P></TD>
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; WIDTH: 20%; PADDING-TOP: 0.75pt"
width="20%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></P></TD></TR>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; WIDTH: 31.86%; PADDING-TOP: 0.75pt"
width="31%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD>
<TD
style="BORDER-RIGHT: medium none; PADDING-RIGHT: 0.75pt; BORDER-TOP: medium none; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; BORDER-LEFT: medium none; WIDTH: 48.14%; PADDING-TOP: 0.75pt; BORDER-BOTTOM: windowtext 1pt solid"
vAlign=top width="48%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">/s/ Joseph W.
Skeehan</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; PADDING-TOP: 0.75pt">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></P></TD></TR>
<TR style="page-break-inside: avoid">
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; WIDTH: 31.86%; PADDING-TOP: 0.75pt"
width="31%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; WIDTH: 48.14%; PADDING-TOP: 0.75pt"
vAlign=top width="48%">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Joseph W. Skeehan</FONT></P>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">Chief Executive
Officer</FONT></P></TD>
<TD
style="PADDING-RIGHT: 0.75pt; PADDING-LEFT: 0.75pt; PADDING-BOTTOM: 0.75pt; PADDING-TOP: 0.75pt">
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'"><FONT
style="FONT-FAMILY: 'Arial','sans-serif'">&nbsp;</FONT></P></TD></TR></TABLE></DIV>
<P
style="FONT-SIZE: 12pt; MARGIN: 0in 0in 0pt; FONT-FAMILY: 'Times New Roman','serif'">&nbsp;</P></DIV></BODY>
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{"company-data": {"conformed-name": "JMG Exploration, Inc.", "cik": "0001299967", "assigned-sic": "1311", "irs-number": "201373949", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32438", "film-number": "08963731"}, "business-address": {"street1": "180 SOUTH LAKE AVENUE, SEVENTH FLOOR", "city": "PASADENA", "state": "CA", "zip": "91101", "phone": "(626) 585-9555"}, "mail-address": {"street1": "180 SOUTH LAKE AVENUE, SEVENTH FLOOR", "city": "PASADENA", "state": "CA", "zip": "91101"}}
unsaved:///newpage2.htm
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): July 22, 2008
JMG Exploration,
Inc.
(Exact name of
Registrant as specified in its charter)
Nevada
(State or other
jurisdiction of incorporation or organization)
001-32438
(Commission
File Number)
20-1373949
(IRS employer
identification no.)
180 South
Lake Ave.
Seventh
Floor
Pasadena
, CA
91101
(Address of
principal executive offices)
(Zip
Code)
Registrant's telephone number,
including area code:
(626)
792-3842
(Registrant's
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:
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
9.01    Financial Statements and Exhibits.
On July 22, 2008, JMG Exploration,
Inc. issued a press release reporting that Newco Group Ltd. has failed to repay
a $3 million loan and accrued interest and fees that were due July 10, 2008 and
that on July 22, 2008 JMG issued a formal notice of default. A copy of that
press release is attached to this report as Exhibit 99.1.
(c)
Exhibits
Exhibit
No.
Description
99.1
Press Release dated July 22,
2008
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 22,
2008
JMG Exploration,
Inc.
/s/ Joseph W.
Skeehan
Joseph W. Skeehan
Chief Executive
Officer