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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
1337101	G. Ronald Stovash	16496 Felicita Court Naples FL 34110-3264	Chief Executive Officer	Yes	Yes	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	52,000	No	4	P	Direct
Common Stock	Acquisiton	2012-04-04	2,000	$1.30	54,000	No	4	P	Direct

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

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	50,000	Indirect	Ashdale Associates LLC

Reported Derivative Holdings

Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Options	$2.50	2011-09-23	2016-09-28	250,000	250,000	Direct
Common Stock	Options	$5.00	2011-09-23	2016-09-28	250,000	500,000	Direct
Common Stock	Options	$1.70	2012-03-07	2017-03-07	37,800	537,800	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2016-09-28	250,000	250,000	Direct
2016-09-28	250,000	500,000	Direct
2017-03-07	37,800	537,800	Direct

Footnotes

Mr. Stovash is a 1/3 member of Ashdale Associates, LLC, a West Virginia limited liability company that beneficially owns 50,000 shares of common stock of the Issuer. Ronald G. Stovash disclaims beneficial ownership of such shares of common stock except to the extent of his pecuniary interest therein.
50,000 shares held by Ashdale Associates, LLC of which Mr. Stovash is a 1/3 member. Ronald G. Stovash disclaims beneficial ownership of such shares of common stock except to the extent of his pecuniary interest therein.
Vesting: 3 years, 25% immediate and 25% on each anniversary for 3 years.
One-third vest immediately with one-third on each of the next two calendar year ends, provided that Mr. Stovash remains an employee of the Company during the vesting period.