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)   March 8,  2001
                                                         ------------------


                           CANARGO ENERGY CORPORATION
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)



           Delaware                         0-9147               91-0881481
 ----------------------------     ------------------------    ----------------
 (State or other jurisdiction     (Commission File Number)    (I.R.S. Employer
       of incorporation)                                     Identification No.)


                  CanArgo Services (UK) Limited
                   150 Buckingham Palace Road
                         London, England                   SW1W 9TR
             ----------------------------------------     ----------
             (Address of principal executive offices)     (Zip Code)


       Registrant's telephone number, including area code   44-207-808-4700
                                                            ---------------


            1580, 727 - 7th Avenue SW, Calgary, Alberta, Canada T2P 0Z5
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)




ITEM  5.     OTHER  EVENTS

On March 8, 2001, CanArgo announced that it intends to make an offer to purchase
all  outstanding  common  shares  of Lateral Vector Resources Inc. ("LVR").  The
Offer  will  be  made through a wholly owned subsidiary of CanArgo organised for
the  purposes  of  making  the offer. The basis of the Offer to LVR shareholders
will be C$0.10 in cash for each outstanding  LVR  share.

ITEM 7.      Financial Statements, Pro Forma Financial Information and Exhibits

(c)   Exhibits



    
7(1)   Press release dated March 8, 2001 regarding CanArgo announcement that it
       intends to  make  an  offer  to purchase all outstanding common shares of
       Lateral Vector Resources  Inc.


                                   SIGNATURES
                                   ----------


     Pursuant  to  the  requirement  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.


                                        CANARGO  ENERGY  CORPORATION


Date:  March 12, 2001                   By:     /s/Anthony J. Potter
                                                --------------------
                                                Anthony J. Potter
                                                Corporate Secretary



                         EXHIBIT INDEX



                                                                       
                                                                             FILED WITH
EXHIBIT                                                                         THIS
NUMBER    EXHIBIT                                                              REPORT
- -------   ---------------------------------------------------------------    ----------
7(1)      Press release dated March 8, 2001 regarding CanArgo
          announcement that it intends to  make  an  offer  to purchase
          all outstanding common shares of Lateral Vector Resources  Inc.        X