Washington, D.C. 20549

                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                           The Securities Act of 1934

                           Date of Report May 12, 2004

                          ASPEN EXPLORATION CORPORATION
             (Exact name of registrant as specified in its charter)

   Delaware                 0-9494                               84-0811316
----------------         ------------                         ----------------
(State or other          (Commission                          (I.R.S. Employer
 jurisdiction of          File Number)                       Identification No.)

                 2050 S. Oneida St., Suite 208, Denver, CO 80224

                   Registrant's telephone number 303-639-9860

         (Former name or former address, if changed since last report.)

Item 12. Results of Operations and Financial Condition

     (a) On May 12, 2004, Aspen Exploration Corporation issued a news release, a
copy of which is attached hereto as Exhibit 99.1.


     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.

                                         ASPEN EXPLORATION CORPORATION

Date:  May 12, 2004                      By: /s/ Robert A. Cohan
                                                 Robert A. Cohan, President