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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1045390	Colombia Energy Resources Inc.	CERX	Bituminous Coal & Lignite Surface Mining (1221)	870567033

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1078293	B Peter Lilly	Vulcan Coal Company Llc 141 Market Place Dr., Suite 100 Fairview Heights IL 62208		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2012-04-03	2,000	$1.25	2,000	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Options	$2.50	2011-08-25	2016-08-24	50,000	50,000	Direct
Common Stock	Restricted Stock Units	$0.00	2012-05-08	2013-05-08	35,700	85,700	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2016-08-24	50,000	50,000	Direct
2013-05-08	35,700	85,700	Direct

Footnotes

The options shall have a three year vesting period, with 25 % vesting immediately and 25% vesting on the next three anniversaries of appointment.
The restricted stock units ("RSUs") will vest on the date of the 2012 annual meeting of the stockholders which is tentatively scheduled for May 8, 2012 and will expire at the end of the director's term. If the director resigns for cause or is removed for cause before the end of his term, the RSUs would lapse. However, if the director resigns for health or other appropriate reasons, his RSUs would vest immediately. The director is not permitted to sell the vested shares until he is no longer a director.