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) ~~November~~December 2514, 2011

AMERICAN EAGLE ENERGY INC.

(Exact name of registrant as specified in its charter)


Nevada	333-143626	20-8642477
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

	27 North 27th Street, Suite 21-G, Billings, MT	59101
	(Address of principal executive offices)	(Zip Code)

27 North 27th Street, Suite 21G

~~Registrant’s telephone number~~Billings, ~~including~~Montana ~~area code: (406) 294-9765~~59101

(~~Former~~Address ~~name~~of orprincipal ~~former~~executive ~~address~~offices, ifincluding ~~changed~~zip ~~since last report~~code)

~~Check~~(406) ~~the appropriate box below if the Form 8~~294-~~K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:~~0765

(Registrant’s telephone number, including area code)

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~~Item 41.01 –Entry ~~MATTERS~~into ~~RELATED~~Material TODefinitive ~~ACCOUNTANTS AND FINANCIAL STATEMENTS~~Agreement.

~~Item~~On 4November 18, 2011, American Eagle Energy Inc.01 ~~Changes~~(the “Company”), Eternal Energy Corp. (“Eternal Energy” and, together with the Company, the “Sellers”), and a third-party purchaser (the “Buyer”) exchanged signature pages to a Purchase and Sale Agreement (the “PSA”), pursuant to which the Sellers agreed to sell to the Buyer an aggregate of 75% of their respective, collective right, title, and interest in ~~Registrant~~and to the Assets (as defined below) relating to up to approximately 10,521 aggregate net acres owned by the Sellers, located in Western Divide County, North Dakota, and eastern Sheridan County, Montana (the “West Spyglass Prospect”), a region known for its Bakken and Three Forks zone oil production. The “Assets” to be sold by the Sellers to the Buyer consist of 75% of each Seller’s ~~Certifying~~right, ~~Accountant~~title, and interest in and to the oil and gas leases, oil and gas wells, and other related wells, hydrocarbon production, contracts, equipment, records, and other related properties relating to the West Spyglass Prospect.

OnBased ~~November~~on ~~25,~~the ~~2011,~~initial ~~American~~number ~~Eagle~~of ~~Energy~~estimated ~~Inc.~~acres ~~(the~~to ~~“Registrant”)~~be ~~dismissed~~included ~~Kelly~~in &the ~~Company~~PSA, asthe parties initially estimated the ~~Registrant’s~~purchase ~~principal~~price ~~accountant~~for ~~effective~~the onAssets ~~such~~would ~~date~~be approximately $13.8 million. The ~~report~~initial closing of ~~Kelly~~the &sale ~~Company~~of onthe Assets under the ~~Registrant’s~~PSA, ~~financial~~which ~~statements~~was ~~for~~subject to the ~~eight-month~~satisfaction ~~period~~of ~~ended~~certain ~~December~~conditions ~~31,~~(including ~~2010~~certain ~~did~~title ~~not~~matters ~~contain~~that ancould ~~adverse~~cause ~~opinion~~the oraggregate apurchase ~~disclaimer~~price ofto ~~opinion~~vary), ~~was~~occurred ~~not~~on ~~qualified~~December or14, ~~modified~~2011, aswith the payment to ~~uncertainty,~~the ~~audit~~Sellers ~~scope~~of a combined $10.9 million, orto ~~accounting~~be ~~principles~~split equally between them. ~~The~~A ~~Registrant~~subsequent ~~engaged~~closing ~~Hein~~for &certain ~~Associates~~of ~~LLP~~the ~~(“Hein~~net &acreage/Assets ~~Associates”)~~is asexpected ~~its~~in ~~new~~early ~~principal~~Spring ~~accountant~~with ~~effective~~a aspurchase price of ~~November~~one ~~28,~~million ~~2011~~dollars to be split equally between the Sellers. ~~The~~Post-closing, ~~decision~~the toSellers ~~change~~will ~~accountants~~collectively ~~was~~retain ~~recommended~~a 25% working interest in the West Spyglass Prospect acreage and ~~approved~~will byremain the ~~Registrant’s~~operator ~~Board~~on ofthat ~~Directors~~acreage.

~~During~~On ~~the eight-month period ended~~ December 3115, ~~2010 and the subsequent interim period through November 25,~~ 2011, ~~the~~American ~~date~~Eagle ofand ~~dismissal,~~Eternal ~~there~~Energy ~~were~~jointly noissued ~~disagreements~~a ~~with~~press ~~Kelly~~release &announcing ~~Company~~the oninitial ~~any~~closing ~~matter~~ of ~~accounting principles or practices, financial statement disclosures, or auditing scope or procedures, which disagreement(s), if not resolved to~~ the ~~satisfaction~~partial sale of ~~Kelly~~West &Spyglass ~~Company,~~Prospect. A ~~would~~copy ~~have caused it to make reference to the subject matter~~ of the ~~disagreement(s)~~press inrelease ~~connection~~is included with ~~its~~this ~~report,~~filing ~~nor were there any reportable events~~ as ~~defined~~Exhibit ~~in Item 304(a)(~~99.1~~)(iv) of Regulation S-K~~.

The Registrant engaged Hein & Associates as the Registrant’s new independent accountant as of November 28, 2011. During the eight-month period ended December 31, 2010 and the subsequent interim period through November 25, 2011, neither the Registrant nor anyone on the Registrant’s behalf engaged Hein & Associates regarding either the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Registrant’s financial statements, or any matter that was either the subject of a “disagreement” or a “reportable event,” both as such terms are defined in Item 304 of Regulation S-K.

The Registrant has made the contents of this Form 8-K available to Kelly & Company and requested it to furnish a letter to the Securities and Exchange Commission as to whether Kelly & Company agrees or disagrees with, or wishes to clarify the Registrant’s expression of its views. A copy of such letter is attached hereto as Exhibit 16.1.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 . Financial Statements and Exhibits.

(d) Exhibits

Exhibit		Description of Exhibit
16.1*		Letter from Kelly & Company dated November 30, 2011.

Exhibit

Description of Exhibit

99.1

Press Release dated December 15, 2011

___________

* Filed herewith.

SIGNATURE

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: November 30, 2011	AMERICAN EAGLE ENERGY INC.
Date: December 15, 2011	AMERICAN EAGLE ENERGY INC.
	By:	/s/ Richard Findley
		Richard Findley
		President and Chief Executive Officer
		President

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