8-K

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

December 8, 2008
Date of Report (Date of earliest event reported)

DORAL ENERGY CORP.
(Exact name of registrant as specified in its charter)

NEVADA	000-52738	98-0555508
(State or other jurisdiction of	(Commission File	(IRS Employer Identification No.)
incorporation)	Number)
415 West Wall, Suite 500
Midland, TX		79701
(Address of principal executive offices)		(Zip Code)

(432) 789-1180
Registrant's telephone number, including area code

111 N. Sepulveda Blvd., Suite 250
Manhattan Beach, CA 90266
(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 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

Effective December 10, 2008, Doral Energy Corp. (the “Company”) appointed H. Patrick Seale and Everett Willard Gray II to its Board of Directors. In addition, Mr. Gray was appointed as the Company’s Chief Executive Officer and Vice Chairman, Mr. Seale was appointed as the Company’s President, and Paul C. Kirkitelos was appointed as Chairman of the Board. Mr. Kirkitelos continues to act as the Company’s Chief Financial Officer, Treasurer and Secretary. This restructuring of the Company’s management team will better position the Company for future growth. In addition to working on increasing the production of the Company’s existing oil and gas properties, the Company’s new management team will continue to seek out the acquisition of additional properties with untapped potential.

Everett Willard Gray II

Mr. Gray, 33, is a seasoned executive who has been extensively involved in entrepreneurial ventures in oil field production as an angel investor and advisor/consultant to exploration and production start ups. Mr. Gray also has a diverse background gained from sales and marketing positions with a number of Fortune 500 companies, including Prudential Financial, Pharmacia Corp., Medtronic Inc., and Guidant Corporation.

In April 2007, Mr. Gray founded WS Oil & Gas Limited, which provides merger and acquisition and capital raising consulting services to businesses in the energy sector. WS Oil and Gas Limited owns an aggregate of 9,700,000 shares of the Company’s common stock. From August 2006 to March 2007, Mr. Gray was the CEO and President of Well Renewal Inc., a micro-cap exploration and production company quoted on the Pink Sheets. Mr. Gray was also a director of Well Renewal Inc. from April 2006 to March 2007. From July 2002 to July 2006, Mr. Gray worked as a sales representative for, in turn, Medtronic Inc., Guidant Corporation and FoxHollow Technologies Inc.

Mr. Gray has played an instrumental role in the early stages of the Company’s development. He assisted the Company in identifying and negotiating the acquisition of the Company’s oil and gas properties in Eddy County, New Mexico and assisted the Company in obtaining its $50,000,000 credit facility from Macquarie Bank Limited, which the Company utilized to complete the purchase of the Eddy County Properties.

Mr. Gray is a native of the Midland/Odessa, Texas area, which is considered to be the heart of the Permian Basin, and is the new location of the Company’s principal executive offices. The Company believes that Mr. Gray’s network of relationships within the West Texas oil and gas community will be instrumental to the Company’s ability to seek out and acquire additional properties within the Permian Basin region.

Mr. Gray received his B.S. in Business Management from Texas State University. While attending Texas State, Mr. Gray was a member of the golf team, earning Southland Conference All-Academic Honors, as well as being a member of the Southland Conference Golf Championship team.

The Company is currently in the process of negotiating a compensation package for Mr. Gray. Mr. Gray and the Company are working to create a compensation package that will minimize

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the Company’s current cash commitments and emphasize equity value creation. At the present time Mr. Gray is receiving no cash compensation.

H. Patrick Seale

Mr. Seale, 55, has acted as the Company’s Chief Operating Officer since August 11, 2008.

Mr. Seale was previously the President and Executive Vice President of SPI Operations LLC, of Midland, Texas, where he was a founder and spent seven years directing SPI's production and reserve growth. While at SPI, Mr. Seale was responsible for the management and direction of SPI’s engineering, development, production, and field operations. SPI's reserves eventually reached 15 million barrels of oil equivalent (BOE) in ten West Texas projects. SPI achieved its growth through strategic acquisitions of under-producing and under-developed properties with potential for exploitation of both existing wells and proved undeveloped reserves. Prior to his departure, Mr. Seale engineered the sale of a majority interest in SPI's largest project.

Previously, Mr. Seale was Vice President of Engineering for the North American Oil and Gas Unit of NatWest Markets, the corporate and investment banking division of National Westminster Bank, PLC. In this role, Mr. Seale evaluated the economic feasibility of energy projects and helped determine the size of the bank's reserve-based lending facilities for projects throughout the world.

Mr. Seale previously gained international operations and development experience as Vice President of Operations for both Concept Energy Corporation in Colombia and Frontera Resources Corporation in the Republic of Georgia and the Azerbaijan Republic. In these roles he created development and drilling plans, managed production and drilling operations, and worked with international banks and investors to obtain equity and debt financing. He was also Vice President of Engineering for Cabot Oil & Gas Corp. (NYSE: COG), managing the 800 Bcfe reserve base. Mr. Seale began his career with Exxon after graduating with Highest Honors in Petroleum Engineering from the University of Texas at Austin.

The Company currently pays Mr. Seale a salary of $15,000 per month.

Paul C. Kirkitelos, PhD.

Dr. Kirkitelos, 39, has acted as the Company’s Chief Financial Officer, Treasurer and Secretary, since November 21, 2007. Dr. Kirkitelos had also acted as the Company’s Chief Executive Officer and President from November 21, 2007 to December 10, 2008. Dr. Kirkitelos has been a member of the Company’s Board of Directors since December 24, 2007.

Dr. Kirkitelos has 13 years of management consulting, R&D, finance, and operations experience. Dr. Kirkitelos was most recently Chief Operating Officer of Nutragenetics, a nutritional science and product company. Prior to Nutragenetics, he co-founded Rabbitt Capital Management, a hedge fund based on quantitative stock market models. Previously, with the strategic consulting firm McKinsey & Company, Dr. Kirkitelos served high tech and industrial clients on strategy, corporate finance, and operations studies. Prior to McKinsey, Dr. Kirkitelos was the Director of Applications Development at Chromavision Medical Systems, where he managed applications development, supported clinical trials, and managed the FDA approval for the company's cellular evaluation instrument. This regulatory approval was the foundation for the company's successful initial public offering (IPO) on Nasdaq. Dr. Kirkitelos holds M.S.

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and Ph.D. degrees in Engineering Physics from the University of Virginia, where he worked as a Research Fellow with the NASA Goddard Space Flight Center studying the nonlinear dynamics of astrophysical plasma waves. He earned B.S. degrees in both Electrical Engineering and Physics with Highest Distinction from Worcester Polytechnic Institute.

The Company had previously agreed to pay Dr. Kirkitelos a salary of $15,000 per month, however the Company and Dr. Kirkitelos are currently re-negotiating his compensation package in an effort to minimize the Company’s current cash commitments and emphasize equity value creation.At the present time Dr. Kirkitelos is receiving no cash compensation.

ITEM 8.01 OTHER EVENTS

Approval of 1-for-25 Reverse Stock Split

On December 8, 2008, the Board of Directors of Doral Energy Corp. (the “Company”) approved a 1-for-25 reverse split of the Company’s common stock (the “Reverse Split”). The Company’s Board of Directors believes that tightening the capital structure by completing the Reverse Split will assist the Company in obtaining the financing required for growth and successful implementation of the Company’s business plan.

Upon completion of the Reverse Split, the Company’s authorized capital will be decreased from 2,500,000,000 shares of common stock, par value $0.001 per share, to 100,000,000 shares of common stock, par value $0.001 per share, and stockholders will own one share of our common stock for every 25 shares of our common stock held before the Reverse Split. The Reverse Split is expected to be effected on January 12, 2009.

Principal Executive Offices Moved to Midland, Texas

Doral Energy Corp. (the “Company”) has moved its principal executive offices from Manhattan Beach, California to Midland, Texas. The Company believes that by relocating its principal offices to Midland, Texas, it will be easier for the Company develop and maintain relationships with oil and gas operators and producers in the heart of the Permian Basin, as well as to manage its properties in the region.

Purchase Price Adjustment for Eddy County Properties

Doral Energy Corp. (the “Company”) paid to J. Warren Hanson and Kathie Hanson $463,407.71 as a post-closing cash price adjustment for the Company’s oil and gas properties located in Eddy County, New Mexico (the “Eddy County Properties”). The cash price adjustment was calculated in accordance with the terms of the purchase and sale agreement under which the Company acquired the Eddy County Properties.

Macquarie Bank Limited Credit Agreement

On December 10, 2008, Macquarie Bank Limited (“Macquarie”) and Doral Energy Corp. (the “Company”) agreed to extend the date by which they must agree on a development plan for the Company’s properties in Eddy County, New Mexico (the “Eddy County Properties”) under the terms of the Company’s credit agreement with Macquarie (the “Credit Agreement”). The new date by which the Company and Macquarie must come to an agreement with respect to a

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development plan is January 16, 2008. The Company had previously submitted a development plan to Macquarie for their approval, however the parties are currently re-working that development plan in light of current commodities prices. If the Company is not able to reach an agreement with Macquarie on a development plan for the Company’s Eddy County Properties, the due date for the amounts loaned to the Company under the Credit Agreement will be accelerated from June 30, 2011 to June 30, 2009.

Macquarie has also agreed to forbear taking any action for the Company not meeting the minimum quarterly net operating cash flow and the minimum quarterly sales volume requirements under the Credit Agreement for the fiscal quarter ended October 31, 2008 until January 16, 2008. The Company is currently working with Macquarie to resolve this issue. If the Company and Macquarie are not able to reach an accommodation, Macquarie could deem the Company to be in default of its obligations under the Credit Agreement, in which case all amounts due by the Company thereunder would become immediately due and payable.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits

Exhibit Number	Description of Exhibit
10.1	Limited Forbearance Agreement dated December 10, 2008 between Macquarie Bank Limited and Doral Energy Corp.
99.1	Press Release

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.

	DORAL ENERGY CORP.
Date: December 11, 2008
	By:	/s/ Paul C. Kirkitelos
		PAUL C. KIRKITELOS
		Chairman of the Board, Chief Financial
		Officer, Treasurer and Secretary

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EX-10.1

EX-99.1

Doral Energy Appoints New CEO, Announces Reverse Share Split

MIDLAND, TEXAS, December 11/MarketWire/ -- Doral Energy Corp. (OTC Bulletin Board: DENG) (“Doral” or “the Company”), an oil and gas production and exploitation company, today announced a re-shuffling of its executive team, including the appointment of a new CEO, as well as the appointment of two additional members to the Board of Directors, and a 1-for-25 reverse split of the Company’s common shares. The moves are intended to best position Doral for stability and growth in the volatile oil and gas market.

Dr. Paul Kirkitelos, Doral’s previous President and Chief Executive Officer, has resigned those posts and will instead assume the position of Chairman of the Board, as well as remaining as Doral’s Chief Financial Officer and Secretary. Replacing Dr. Kirkitelos as CEO is Everett Willard (“Will”) Gray, II. Mr. Gray has been actively involved in numerous micro-cap oil and gas companies, assisting with mergers and acquisitions and capital raising. Most recently Mr. Gray formed and ran W.S. Oil and Gas Limited, an oil and gas consulting firm focusing on his expertise in helping to develop early stage companies. He also has extensive sales and marketing experience, gained through positions with Fortune 500 companies such as Prudential Financial, Pharmacia, Medtronic, and Guidant Corporation.

In addition, Doral further announced that its Chief Operating Officer H. Patrick (“Pat”) Seale has added the position of President to his current role. Mr. Seale has over 30 years of experience in petroleum engineering, oilfield operations management, executive management, international banking, and startup company development. Since being appointed Doral’s COO in August, 2008, his primary role has been to oversee the production and organic growth from the Company’s Eddy County Properties, which contain over 180 producing wells and proven reserves of 4.1 million BOE.

Concurrent with the appointment of the new CEO and President, Mr. Gray and Mr. Seale were appointed to Doral’s Board of Directors, bringing the total Board membership to three. Mr. Gray will also hold the title of Vice Chairman.

Commenting on the new executive roster, Chairman Dr. Kirkitelos stated “We are extremely enthusiastic about entering the next phase in Doral’s development. Will Gray has played an instrumental role in helping the Company acquire its Eddy County Properties and obtain a $50 million credit facility from Macquarie Bank Limited, and we believe he is the logical choice to oversee Doral’s activities on a day-to-day basis. He and Pat Seale make a great team to lead the Company through the challenges – and opportunities – that we face in this volatile market.”

Mr. Gray added, “I am anxious to help create value for our shareholders. My focus will be to achieve growth at a reasonable price for Doral by minimizing costs and identifying prudent methods for expanding our asset base and production levels. We expect that there will be valuable assets coming onto the market at attractive prices in the coming months. We believe we can capitalize on these opportunities to grow profitably while other companies are forced to shrink.”

“In anticipation of the recent drop in prices, Doral put in place a hedge on roughly 65% of its current production, with a floor of $100 per barrel of oil,” continued Mr. Gray. “This has helped the Company to stabilize its revenue as prices have fallen far below this value. For companies that do not have such a safety net, there may be no choice but to sell assets to companies like Doral that do. When this period in the market passes, we intend to make Doral one of the survivors and to emerge much stronger in the long run.”

1-for-25 Reverse Stock Split

To further strengthen Doral’s positioning for the future, the Company announced that its Board of Directors has approved a 1-for-25 reverse split of its common stock, which will reduce the number of shares outstanding to approximately 4.3 million. The Board of Directors anticipates that the tighter capital structure will be more attractive to investors and will better enable the Company to raise equity capital to augment the debt financing

it has received from Macquarie Bank Limited. The reverse split is expected to become effective on January 12, 2009.

Principal Offices Moved to Midland, Texas

The Company also announced that its principal offices have moved from Los Angeles to Midland, Texas. On the change of location, Dr. Kirkitelos commented, “Having the Company and its executive team located in Midland puts us in the heart of Permian Basin oil country. Our management team, especially Will Gray who is a Midland native, has strong relationships in this region. We anticipate that this will play a pivotal role in helping us identify value-creating local acquisitions that can be effectively managed by a tightly focused, lean, local management team.”

About Doral Energy Corp

Doral Energy Corp (OTC: DENG.OB) is an emerging oil and gas company headquartered in Midland, Texas. Doral Energy Corp’s strategy is to grow a portfolio of under-developed production and exploitation assets with the potential for new drilling – generating near-term increases in existing production through operational improvements, and longer-term development of proved undeveloped reserves. Doral focuses on identifying acquisitions that generate immediate cash flow from production, but which also have strong proved developed non-producing and proved undeveloped reserves that can be tapped for significant growth. The prolific Permian Basin of Texas and New Mexico is a geographic region of particular interest for the Company’s future acquisition activity. Doral’s first producing asset is the Eddy County Properties in the northwestern Permian Basin of New Mexico, which are currently producing 120 barrels of oil equivalent (BOE) per day and have 4.1 million BOE in proved reserves.

Further Information

Shareholders and investors are encouraged to visit Doral Energy’s website at www.DoralEnergy.com for more information.

On behalf of DORAL ENERGY CORP, INC.

Dr. Paul Kirkitelos, Chairman of the Board

Legal Notice Regarding Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined, and assumptions of management. Forward looking statements are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information concerning oil or natural gas reserve estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed.

Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include misinterpretation of data, inaccurate estimates of oil and natural gas reserves, the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom the Company has contracted, inability to maintain qualified employees or consultants because of compensation or other issues, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, the likelihood that no commercial quantities of oil or gas are found or recoverable, and our ability to participate in the exploration of, and successful completion of development programs on all aforementioned prospects and

leases. Additional information on risks for the Company can be found in the Company’s filings with the US Securities and Exchange Commission. In addition, the 1-for-25 reverse split of the Company’s common stock approved by the Company’s Board of Directors has not yet been effected. The effective date of the reverse split may be changed, or the reverse split may be terminated, by the Board of Directors at any time prior to the effective date.