SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* LIBRA ADVISORS LLC (Last) (First) (Middle) 777 THIRD AVENUE 27TH FLOOR (Street) NEW YORK NY 10017 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Eternal Energy Corp. [ EERG ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/20/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/20/2011		J		0(4)	D	$0.00	1,134,868	D(1)
Common Stock	12/20/2011		J		0(4)	D	$0.00	1,134,868	I	See footnote.(2)
Common Stock	12/20/2011		J		0(4)	D	$0.00	140,264	I	See footnote.(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* LIBRA ADVISORS LLC (Last) (First) (Middle) 777 THIRD AVENUE 27TH FLOOR (Street) NEW YORK NY 10017 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* LIBRA ASSOCIATES LLC (Last) (First) (Middle) 777 THIRD AVENUE 27TH FLOOR (Street) NEW YORK NY 10017 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* LIBRA FUND, L.P. (Last) (First) (Middle) 777 THIRD AVENUE 27TH FLOOR (Street) NEW YORK NY 10017 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* TANDON RANJAN (Last) (First) (Middle) 777 THIRD AVENUE 27TH FLOOR (Street) NEW YORK NY 10017 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. These securities are owned by Libra Fund, L.P. These securities may be deemed to be beneficially owned by Libra Advisors, LLC, its investment manager (the "Investment Manager"), Libra Associates, LLC, its general partner (the "General Partner") and Ranjan Tandon, the sole managing member of the Investment Manager and General Partner.

2. These securities are directly owned by Libra Fund, L.P. and may be deemed to be beneficially owned by (a) Libra Advisors, LLC by virtue of its role as the investment manager of Libra Fund, L.P., (b) Libra Associates LLC by virtue of its role as the general partner of Libra Fund, L.P. and (c) Ranjan Tandon as the managing member of Libra Advisors, LLC and Libra Associates LLC. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

3. These securities are held in the accounts of a private investment vehicle over which Libra Advisors, LLC, Libra Associates, LLC and Ranjan Tandon have investment discretion by virtue of their position as the investment manager and/or general partner, as applicable, of said entity.

4. On December 20, 2011, Eternal Energy Corp. ("EERG") announced the closing of a merger with American Eagle Energy ("AMZG"). At the closing of the merger, AMZG's stockholders received approximately 3.641 shares of EERG for each share of AMZG common stock that they owned on November 28, 2011. Immediately following the issuance of EERG shares to AMZG stockholders, EERG effected a 1-for-4.5 reverse stock split. The disposition of the securities reported herein was a result of this reverse stock split and the closing of the merger with AMZG. Also pursuant to the merger closing, all shares of EERG were converted into shares of "American Eagle Energy Corporation," the new name of the merged company.

Remarks:

+ Each reporting person hereby disclaims beneficial ownership over the securities, except to the extent of its pecuniary interest therein. This report shall not be deemed an admission that any reporting person is the beneficial owner of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose

	Libra Advisors, LLC, By: /s/ Ranjan Tandon, Managing Member	12/22/2011
	Libra Associates, LLC, By: /s/ Ranjan Tandon, Managing Member	12/22/2011
	Libra Fund, L.P., By: Libra Associates, LLC, General Partner, By: /s/ Ranjan Tandon, Managing Member	12/22/2011
	/s/ Ranjan Tandon	12/22/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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