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): May 5, 2003
KESTREL ENERGY, INC.
(Exact Name of Registrant as Specified in its Charter)
Colorado 0-9261 84-0772451
(State of Incorporation) (Commission File (IRS Employer ID
Number) Number)
1726 Cole Boulevard, Suite 210
Lakewood, Colorado 80401
(Address of Principal Executive Offices)
(303) 295-0344
(Registrant's Telephone Number,
including Area Code)
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
On May 5, 2003, Kestrel Energy, Inc. (the "Company") closed on a Revolving
Credit Loan Credit Agreement for $200,000 with Barry D. Lasker, the Company's
President, Chief Executive Officer and a Director of the Company. The Agreement
provides that Mr. Lasker has the option at any time to convert all or any
portion of the unpaid principal and interest owed under the Revolving Credit
Master Note into shares of the Company's common stock at a conversion price of
$.40 per share, or 500,000 shares based on the current principal balance.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) None
(b) None
(c) Exhibits
99.1 Revolving Credit Loan Agreement dated May 5, 2003.
99.2 Mortgage, Deed of Trust, Security Agreement, Assignment of
Production and Financing Statement dated May 5, 2003.
Date: May 19, 2003 KESTREL ENERGY, INC.
By: /S/BARRY D. LASKER
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Barry D. Lasker, President