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 9, 2010 (December 6,
2010)
AMERICAN
LIBERTY PETROLEUM CORP.
(Exact
Name of Registrant as Specified in its Charter)
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Nevada
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333-156077
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98-0599151
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(State
of Incorporation)
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(Commission
File Number)
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(IRS
employer identification no.)
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4900
California Ave, Tower B-210
Bakersfield,
CA 93309
(Address
of Principal Executive Offices)
Registrant’s
Telephone Number, Including Area Code: (661) 377-2911
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:
¨ 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
On December
6, 2010, American Liberty Petroleum Corp. (the “Company”), borrowed $290,000
from Keyser Resources, Inc., a Nevada corporation
(“Keyser”). The Promissory Note (the “Note”) executed by the
Company in connection with the loan contains the following payment terms: (a)
the unpaid principal amount accrues interest at the rate of six percent (6%) per
annum, (b) the unpaid principal and all accrued but unpaid interest thereon will
be due and payable on February 28, 2010, and (c) the unpaid principal and
accrued but unpaid interest may be prepaid in whole or in part at the option of
the Company, without penalty or premium. The Note is not secured by
any assets of the Company. Alvaro Vollmers, the sole director and officer of the
Company, is also the sole officer and director of Keyser.
The
proceeds of the Note have been used to make a $250,000 payment pursuant to
an Option Agreement dated May 11, 2010, between the Company and Desert
Discoveries, LLC, a Nevada limited liability company, with the remainder to be
used for general corporate purposes. Under the Option Agreement, Desert
Discoveries, LLC granted the Company an option to purchase its interest in five
oil and gas leases located in Nevada, subject to the Company’s performance of
its obligations under the Option Agreement. Desert Discoveries, LLC granted the
Company an extension on the payment of $250,000, which was originally due on
October 31, 2010, until November 30, 2010. The Company made payments aggregating
$250,000, which were accepted on December 6 and 7, 2010. The
execution of the Option Agreement was disclosed on the Company’s Current Report
on Form 8-K filed on May 17, 2010, which is incorporated by reference into this
Item 2.03.
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.
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Date: December
9, 2010
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AMERICAN
LIBERTY PETROLEUM CORP.
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By:
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/s/ Alvaro Vollmers
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President
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