Unassociated Document
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
______________________________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OFTHE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): January 24,
2011
______________________________
Management
Energy, Inc.
(Exact
name of registrant as specified in its charter)
|
Nevada
(State
of
incorporation)
|
333-152608
(Commission
File
Number)
|
26-1749145
(IRS
Employer
Identification
Number)
|
2626
Cole Avenue, Suite 610
Dallas,
Texas 75204
(Address
of principal executive offices)
Registrant's telephone number,
including area code: (214) 880-0400
Check the
appropriate box if the Form 8-K filing is intended to simultaneously satisfy the
reporting obligation of the registrant under any of the following
provisions:
o Written
communications pursuant to Rule 425 under the Securities Act
o Soliciting
material pursuant to Rule 14a-12 of the Exchange Act
o Pre-commencement
communications pursuant to Rule 14d-2(b) Exchange Act
o Pre-commencement
communications pursuant to Rule 13e-4(c) Exchange Act
Item
1.01 Entry into a Material
Definitive Agreement
Through our Armadillo Mining
Corporation subsidiary, we have entered into an Option Agreement, dated January
20, 2011 to acquire 50% of the Colombian metallurgical coal company, C.I. Hunza
Coal Ltda. (“Hunza”). Hunza owns and operates a mine located in the
Boyaca province of Colombia, which is estimated to contain metallurgical coal
resources of 16 million to 90 million tons of high quality metallurgical
coal. The Hunza mine is permitted and is currently producing and
marketing about 1,000 tons per month.
The option agreement provides that we
will pay an exclusivity fee of US$1.4 million in stages through March 15, 2011
in order to maintain our option rights. Under the agreement, we are
required to invest US$5.0 million in mine exploration and production over a 12
month period in order to acquire the 50% interest in Hunza. We are
engaging outside consultants to prepare a resource and reserve study of the
Hunza mine. The option agreement follows our business strategy of
selling our U.S. coal assets and focusing on Colombian metallurgical coal
opportunities. We recently sold our Snider Ranch, Montana property
and are currently negotiating to sell our interest in the Carpenter Creek,
Montana project.
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.
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MANAGEMENT
ENERGY, INC. |
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Date: January
24, 2011
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By:
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/s/ Jack
W. Hanks |
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Jack
W. Hanks, President andChief Executive Officer
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