UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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):

~~December~~May 1521, ~~2011~~2012

Exterra Energy Inc.

(Exact name of registrant as specified in its charter)

Nevada	000-52319	20-5086877
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

c/o Kelly Hart & Hallman LLP

201 Main Street, Suite 2500

Fort Worth, Texas 76102

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (817) 878-3569

701 South Taylor, Suite 440

Amarillo, Texas 79101

(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 (see General Instruction A.2. below):

* Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

* Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

* Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

* Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 17 – ~~Registrant’s~~Regulation ~~Business and Operations~~FD

Item 17.0301. ~~Bankruptcy~~Regulation orFD ~~Receivership~~Disclosure.

On ~~December~~May 1521, ~~2011~~2012, Exterra Energy, Inc., ~~(the “Company”) filed~~ a ~~voluntary~~Nevada ~~petition~~corporation ~~for relief under Chapter 11 of the United States Bankruptcy Code~~ (the “~~Petition~~Registrant”) ~~in the United States Bankruptcy Court~~, ~~Northern~~filed ~~District~~its ofmonthly ~~Texas,~~operating ~~Fort~~reports ~~Worth~~for ~~Division (~~the ~~“Court”),~~periods ~~and~~from ~~the~~March ~~Company~~1, ~~amended~~2012 ~~such~~through ~~Petition~~March ~~on December 29~~31, ~~2011~~2012 (~~such amendment,~~ the “~~First~~March ~~Amended~~Monthly ~~Petition~~Operating Report”) and onfrom ~~February~~April 281, 2012 ~~(such~~through ~~amendment~~April 30, 2012 (the “~~Second~~April ~~Amended~~Monthly ~~Petition~~Operating Report”~~). The~~ ~~Court~~and, ~~has~~together ~~jurisdiction~~with ~~over this proceeding as of~~ the ~~date~~March ofMonthly ~~the~~Operating ~~filing of the Petition. Effective as of March 21~~Report, ~~2012, Michael A. McConnell (~~the “~~Trustee~~Reports”) ~~was~~with ~~appointed as~~ the ~~Company’s Chapter 11 Trustee pursuant to a Chapter 11 Notice of Appointment of Trustee issued by the~~ United States ~~Trustee~~Bankruptcy ~~(the~~Court ~~“Notice~~for ofthe ~~Appointment”)~~Northern ~~and~~District ~~an Order Approving Appointment~~ of ~~Trustee~~Texas, ~~issued~~Fort byWorth ~~the~~Division ~~Court~~ (the “~~Order~~Court”).

The ~~summary~~March ~~above~~Monthly ~~does~~Operating ~~not~~Report ~~purport to be complete~~ and ~~is qualified in its entirety by reference to~~ the ~~actual~~April ~~text~~Monthly ofOperating ~~the~~Report ~~Petition,~~are ~~the~~attached ~~First~~hereto ~~Amended Petition, the Second Amended Petition, the Notice of Appointment and the Order,~~ as ~~filed as~~ Exhibits 99.1, and 99.2, ~~99.3~~respectively, ~~99.4~~ and ~~99.5~~are ~~respectively, to this Current Report on Form 8-K (~~incorporated herein by reference).

~~Section~~Before 8reading –the ~~Other~~Reports, ~~Events~~we strongly urge you to read the cautionary statements regarding the Reports below.

~~Item~~CAUTIONARY ~~8.01. Other~~STATEMENTS ~~Events.~~REGARDING FINANCIAL AND OPERATING DATA

OnThe ~~April~~Registrant ~~12,~~cautions ~~2012,~~investors ~~the~~and ~~Trustee~~potential ~~provided~~investors anot ~~Notice~~to ofplace ~~Commencement~~undue ofreliance ~~Chapter~~upon 11the ~~Bankruptcy~~information ~~Case~~contained ~~and~~in ~~Rescheduled~~the ~~Creditors~~Reports, ~~Meeting~~as (they were not prepared for the ~~“Notice~~purpose of ~~Commencement”)~~providing to the ~~known~~basis ~~creditors~~for ~~and~~an ~~stockholders~~investment decision relating to any of the ~~Company~~securities inof ~~order~~the toRegistrant. ~~provide~~The ~~such~~Reports ~~persons~~were not prepared in accordance with ~~notice~~U.S. ofgenerally ~~the~~accepted ~~commencement~~accounting ofprinciples, were not audited or reviewed by independent accountants, will not be subject to audit or review by the ~~Company~~Registrant’s ~~Chapter~~external 11auditors at any time in the future, are in a format consistent with applicable bankruptcy ~~case~~laws, ~~notice~~and ofare ~~the~~subject ~~rescheduled~~to ~~meeting~~future adjustment and reconciliation. There can be no assurances that, from the perspective of an investor or potential investor in the ~~Company~~Registrant’s ~~creditors~~securities, ~~and~~the ~~notice~~Reports ~~that~~are ~~the~~accurate ~~Trustee~~or ~~will~~complete. beThe ~~filing~~Reports contain a ~~motion~~further ~~requesting~~description aof ~~new~~limitations ~~deadline~~on bethe ~~set~~information contained therein. The Reports also contain information for ~~filing~~periods ~~creditor’s~~which ~~proofs~~are ofshorter ~~claims. As~~or ~~described~~otherwise different from those required in the ~~Notice~~Registrant’s reports pursuant to the Securities Exchange Act of ~~Commencement~~1934, as amended (the ~~meeting~~“Exchange Act”), and such information might not be indicative of ~~creditors~~the ~~has~~Registrant’s ~~been~~financial ~~rescheduled~~condition toor ~~May~~operating ~~16,~~results ~~2012~~for atthe ~~9:30~~period ~~a.m.~~that ~~(Central~~would ~~Daylight~~be ~~Saving~~reflected ~~Time)~~in atthe Registrant’s financial statements or in its reports pursuant to the ~~Fritz~~Exchange GAct. ~~Lanham~~Results ~~Federal~~set ~~Building,~~forth ~~819~~in ~~Taylor~~the ~~Street,~~Reports ~~Room~~should ~~7A24,~~not ~~Fort~~be ~~Worth,~~viewed ~~Texas~~as ~~76102~~indicative of future results.

The summary above does not purport to be complete and is qualified in its entirety by reference to the actual text of the Notice of Commencement, as filed as Exhibit 99.6 to this Current Report on Form 8-K (incorporated herein by reference).

FORWARD LOOKING STATEMENTS

Certain statements herein about expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as, “may,” “should,” “expects, “ “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and the views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. The Registrant undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The Registrant’s actual results and future financial condition may differ materially from those described or implied by any such forward-looking statements as a result of many factors that may be outside the Registrant’s control. Such factors include, without limitation: (i) the ability of the Registrant to develop, prosecute, confirm, and consummate any plan of reorganization or liquidation with respect to the Chapter 11 proceeding of the Registrant before the Court (“the Chapter 11 Proceeding”); (ii) the Registrant’s ability to obtain court approval with respect to motions in the Chapter 11 Proceeding; and (iii) the potential adverse impact of the Chapter 11 Proceeding on the Registrant’s liquidity or results of operations. This list is not intended to be exhaustive.

Section 9 – Financial Statements and Exhibits

Section 9.01 Financial Statements and Exhibits.

(d) Exhibits:

The following exhibits are filed as part of this Current Report on Form 8-K:

Exhibit No.		Description
99.1		~~Voluntary~~Registrant’s ~~Petition~~Monthly ~~for~~Operating ~~Relief~~Report ~~Under~~for ~~Chapter 11 of~~ the ~~United~~period ~~States~~from ~~Bankruptcy~~March ~~Code in the United States Bankruptcy Court~~1, ~~Northern~~2012 ~~District~~through ofMarch ~~Texas~~31, ~~Fort Worth Division filed by Exterra Energy Inc~~2012. ~~on December 15, 2011~~
99.2		~~Amended~~Registrant’s ~~Voluntary~~Monthly ~~Petition~~Operating Report for ~~Relief Under Chapter 11 of~~ the ~~United~~period ~~States~~from ~~Bankruptcy~~April ~~Code in the United States Bankruptcy Court~~1, ~~Northern~~2012 ~~District~~through ofApril ~~Texas~~30, ~~Fort Worth Division filed by Exterra Energy Inc~~2012. ~~on December 29, 2011~~
99.3		Amended Voluntary Petition for Relief Under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, Northern District of Texas, Fort Worth Division filed by Exterra Energy Inc. on February 28, 2012
99.4		Chapter 11 Notice of Appointment of Trustee issued by the United States Trustee on March 15, 2012 and accepted by Michael A. McConnell on March 21, 2012
99.5		Order Approving Appointment of Trustee issued by the United States Bankruptcy Court, Northern District of Texas, Fort Worth Division on March 29, 2012
99.6		Notice of Commencement provided on April 12, 2012 by Michael A. McConnell in his capacity as Chapter 11 Trustee

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: ~~May~~June 14, 2012 Exterra Energy Inc.

(Registrant)

By: /s/ Michael A. McConnell

Michael A. McConnell

Chapter 11 Trustee

EXHIBIT INDEX

Exhibit No.		Description
99.1		~~Voluntary~~Registrant’s ~~Petition~~Monthly ~~for~~Operating ~~Relief~~Report ~~Under~~for ~~Chapter 11 of~~ the ~~United~~period ~~States~~from ~~Bankruptcy~~March ~~Code in the United States Bankruptcy Court~~1, ~~Northern~~2012 ~~District~~through ofMarch ~~Texas~~31, ~~Fort Worth Division filed by Exterra Energy Inc~~2012. ~~on December 15, 2011~~
99.2		~~Amended~~Registrant’s ~~Voluntary~~Monthly ~~Petition~~Operating Report for ~~Relief Under Chapter 11 of~~ the ~~United~~period ~~States~~from ~~Bankruptcy~~April ~~Code in the United States Bankruptcy Court~~1, ~~Northern~~2012 ~~District~~through ofApril ~~Texas~~30, ~~Fort Worth Division filed by Exterra Energy Inc~~2012. ~~on December 29, 2011~~
99.3		Amended Voluntary Petition for Relief Under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, Northern District of Texas, Fort Worth Division filed by Exterra Energy Inc. on February 28, 2012
99.4		Chapter 11 Notice of Appointment of Trustee issued by the United States Trustee on March 15, 2012 and accepted by Michael A. McConnell on March 21, 2012
99.5		Order Approving Appointment of Trustee issued by the United States Bankruptcy Court, Northern District of Texas, Fort Worth Division on March 29, 2012
99.6		Notice of Commencement provided on April 12, 2012 by Michael A. McConnell in his capacity as Chapter 11 Trustee

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