UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

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): ~~March 11~~May 6, 2010

OCEANIC EXPLORATION COMPANY (Exact name of registrant as specified in its charter)

(Exact name of registrant as specified in its charter)


Delaware	001-08521	84-0591071
(State or other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Delaware	001-08521	84-0591071
7800 East Dorado Place, Suite 250, Englewood, Colorado	80111
(State or other jurisdiction corporation)	(Commission File Number)	(IRS Employer of Identification No.)
(Address of Principal Executive Offices)	(Zip Code)

7800 East Dorado Place, Suite 250, Englewood, Colorado		80111
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (303) 220-8330

~~Not applicable~~ (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:

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~~Section 5~~.02~~ ~~Departure~~– ofCorporate ~~Directors~~Governance orand ~~Certain Officers; Election of Directors; Appointment of Certain~~Management ~~Officers; Compensatory Arrangements of Certain Officers.~~

OnItem ~~March 11, 2010 Stephen M~~5.02 ~~Duncan~~Departure ~~notified the Board~~ of Directors ofor ~~Oceanic~~Certain ~~Exploration~~Officers; ~~Company~~ Election of ~~his~~Directors; ~~intention~~Appointment ~~to resign as President and a director~~ of ~~the~~Certain ~~Company.~~Officers; ~~The~~Compensatory ~~effective~~Arrangements ~~date~~ of ~~the resignations~~Certain ~~has not been determined, but is expected to be approximately May 1, 2010~~Officers. ~~There were no disputes or disagreements between the Company and Mr. Duncan.~~

~~SIGNATURE~~On May 6, 2010, Nicole J. Champine, age 39, accepted the appointment as President and as a director of Oceanic Exploration Company. Since 2002, Ms. Champine has served as legal counsel for Cordillera Corporation. In 2007, Ms. Champine became Vice President and General Counsel of Cordillera Corporation and President of San Miguel Valley Corporation. Both of these companies are affiliated with Oceanic and the Chairman of our Board of Directors. From 1998 to 2002, Ms. Champine worked as a real estate attorney with Otten Johnson, & Ragonetti, P.C. Ms. Champine has no other relationship with Oceanic, its directors or its executive officers. Ms. Champine received a Bachelor of Science Degree in Structural Engineering in 1993 from the University of Texas in Austin and her Juris Doctorate from the University of Denver in 1998.

~~Pursuant~~Ms. Champine towill fulfill the ~~requirements~~role of ~~the~~President ~~Securities~~of ~~Exchange~~Oceanic ~~Act~~in ofaddition ~~1934,~~to ~~the~~her ~~registrant~~positions ~~has~~with ~~duly~~Cordillera Corporation and ~~caused~~San ~~this~~Miguel ~~report~~Valley toCorporation. beShe ~~signed~~will onreceive ~~its~~annual ~~behalf~~compensation byof ~~the~~$200,550 ~~undersigned~~which ~~hereunto~~will ~~duly~~be ~~authorized~~allocated among all three companies based upon the hours worked.

~~Dated: March 16, 2010~~SIGNATURE

~~Oceanic~~Pursuant ~~Exploration~~to ~~Company~~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.

~~/s/~~Dated: ~~Stephen~~May 10, ~~M. Duncan~~ 2010 ~~President~~

Oceanic Exploration Company

/s/ Nicole J. Champine
Nicole J. Champine
President

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