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)  November 29, 2004


                              KESTREL ENERGY, INC.
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             (Exact name of registrant as specified in its charter)


          COLORADO                    0-9261                 84-0772451
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 (State or other jurisdiction       (Commission            (I.R.S. Employer
       of incorporation)            File Number)         Identification Number)


1726 COLE BOULEVARD, SUITE 210          LAKEWOOD, COLORADO            80401
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(Address of principal executive offices)                            (Zip Code)


Registrant's telephone number, including area code:       (303)295-0344
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          (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 8.01. OTHER EVENTS

      Kestrel Energy,  Inc., the Registrant,  issued a press release on November
29, 2004,  announcing its neutrality on an exchange offer by Samson  Exploration
N.L. to non-U.S.  Kestrel  shareholders.  Attached as Exhibit 99.1 is that press
release which is incorporated by reference herein.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(c)   Exhibits

EXHIBIT NO.      DESCRIPTION
-----------      -----------

99.1             Press Release dated November 29, 2004 of Kestrel Energy, Inc.



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                                    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.


                                          KESTREL ENERGY, INC.
                                          (Registrant)

Date December 1, 2004

                                          By: /S/TIMOTHY L. HOOPS
                                              ---------------------------
                                              Timothy L. Hoops, President


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