UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

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) May 09, 2005

CANARGO ENERGY CORPORATION

Registrant’s telephone number, including area code (44) 1481 729 980

Table of Contents

The matters discussed in this Current Report on Form 8-K include forward looking statements, which are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated in such forward looking statements. Such risks, uncertainties and other factors include the uncertainties inherent in oil and gas development and production activities, the effect of actions by third parties including government officials, fluctuations in world oil prices and other risks detailed in the Company’s Reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission. The forward-looking statements are intended to help shareholders and others assess the Company’s business prospects and should be considered together with all information available. They are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company cannot give assurance that the results will be attained.

Section 7- Regulation FD

Item 7.01. Regulation FD Disclosure

The following information is furnished pursuant to Item 7.01, “Regulation FD Disclosure.”

On May 09, 2005, CanArgo Energy Corporation (“CanArgo”) (OSE:CNR, AMEX:CNR) issued a press release with a general drilling update as supplemental information to the AGM that will be held at 3:00 pm on May 9, 2005, at the American Stock Exchange, New York, New York.

It also announced that a copy of the presentation to be given at its 2005 Annual General Meeting was available at the following link;

http://www.newsweb.no/index.asp?symbol=CNR&melding_ID=107693

A webcast of the presentation will be available on the internet at 20:00 pm US Eastern Time after the meeting on May 09, 2005.

The recording of the AGM is to be available on the Internet at the following link;

http://www.vcall.com/CEPage.asp?ID=91787

The information in this Item 7.01, including Exhibit 99.1 related hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Section 9- Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

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 thereunto duly authorized.