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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1282613	Eternal Energy Corp.	EERG	Metal Mining (1000)	000000000

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1399800	Pelagic Institutional Lp	101 Park Avenue 21St Floor New York NY 10178	No	No	Yes	Yes
1400112	Ltd Fund Master Pelagic	101 Park Avenue 21St Floor New York NY 10178	No	No	Yes	Yes
1511936	Pelagic Capital Advisors Lp	101 Park Avenue 21St Floor New York NY 10178	No	No	Yes	Yes
1511937	Mcandrew Rudisill	101 Park Avenue 21St Floor New York NY 10178	No	No	Yes	Yes

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-06-29	22,777	$0.32	5,880,000	No	4	P	Direct
Common Stock	Acquisiton	2011-06-30	17,500	$0.31	5,897,500	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Direct

Footnotes

This Form 4 is jointly filed by: (i) Pelagic Institutional LP; (ii) Pelagic Master Fund Ltd. (iii) Pelagic Capital Advisors LP; and (iv)] McAndrew Rudisill (all together, the "Reporting Persons"), with respect to shares of common stock ("Shares") of the Issuer beneficially owned by Pelagic Capital Advisors LP. Pelagic Capital Advisors LP is the investment advisor of Pelagic Institutional LP and Pelagic Master Fund Ltd. McAndrew Rudisill is the sole indirect owner and controls Pelagic Capital Advisors LP. Of the shares reported, Pelagic Capital Advisors LP and McAndrew Rudisill each have shared beneficial ownership of 5,897,500 Shares, Pelagic Institutional LP has shared beneficial ownership of 3,297,757 Shares, and Pelagic Master Fund Ltd. has shared beneficial ownership of 2,599,743 shares.
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.31 to $0.32, inclusive, on June 29, 2011, and from $0.31 to $0.32, inclusive, on June 30, 2011. The Reporting Persons undertake to provide to Eternal Energy Corp, any security holder of Eternal Energy Corp., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (2) to this Form 4.