f8k-073107_petro.htm
 
 
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):  July 31, 2007



PetroHunter Energy Corporation
(Exact name of registrant as specified in its charter)


Maryland
000-51152
98-0431245
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)


1875 Lawrence Street, Suite 1400, Denver, CO          80202
    (Address of principal executive offices)                    (Zip Code)


Registrant’s telephone number, including area code: (303) 572-8900


N/A
(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))

 
 
 

Item 2.03.
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On July 31, 2007, the registrant executed a subordinated unsecured promissory note for $250,000 in favor of Bruner Family Trust UTD March 28, 2005.  Interest accrues at the rate of 8% per annum and the note matures on the later of October 29, 2007 or the time at which the registrant’s senior indebtedness has been paid in full.

One of the trustees of Bruner Family Trust UTD March 28, 2005 is Marc E. Bruner, the son of Marc A. Bruner, who is the largest beneficial holder of the registrant’s outstanding shares.

Proceeds of the loan were used to help fund the registrant’s obligations as contract operator on the Powder River Basin assets it proposes to purchase from Galaxy Energy Corporation.


Item 9.01           Financial Statements and Exhibits

Regulation
S-K Number
Document
10.1
Subordinated Unsecured Promissory Note dated July 31, 2007

 
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.
 
  PETROHUNTER ENERGY CORPORATION  
       
August 1, 2007
By:
/s/ David E. Brody  
    David E. Brody, Vice President and   
    General Counsel   
       

 
EXHIBIT INDEX
 
Regulation
S-K Number
Document
10.1
Subordinated Unsecured Promissory Note dated July 31, 2007