UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 11, 2006 (May 10, 2006)

CREDO Petroleum Corporation

(Exact name of registrant as specified in its charter)

Colorado		0-8877		84-0772991
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)
1801 Broadway, Suite 900		Denver, Colorado		80202
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code: (303) 297-2200

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240-14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 8.01		Other Events
		On May 10, 2006, CREDO Petroleum Corporation updated drilling activities. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01		Financial Statements and Exhibits
		(c) Exhibits
		99.1 Press Release

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.

		CREDO PETROLEUM CORPORATION
		(Registrant)
Date: May 10, 2006		By:		/s/ David W. Vreeman
				David W. Vreeman
				Vice President and Chief Financial Officer
				(Principal Financial and Accounting Officer)

EXHIBIT INDEX

Exhibits No.		Description
99.1		Press Release