8-K

UNITED STATES
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): November 29, 2001

NATION ENERGY, INC.
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(Exact Name of registrant as specified in charter)

Delaware
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(State or other jurisdiction of incorporation)

000-30193
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(Commission File Number)

59-2887569
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(IRS Employer Identification No.)

SUITE 1100 - 609 WEST HASTINGS STREET
VANCOUVER BC CANADA V6B 4W4
(Address of principal executive offices)

(800) 400 - 3969
(Issuer's telephone number)
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N/A
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(Former name or former address, if changed since last report)

Item 5. Other Events.

On November 29, 2001, Nation Energy, Inc. issued a press release reporting that the Company has entered into a farm-in agreement with Olympia Energy, Inc.

Item 7. Exhibits. The following item is attached as an exhibit hereto:

Exhibit 99.1 Press release of Nation Energy, Inc. dated November 29, 2001.

SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NATION ENERGY, INC. (Registrant)
Dated: November 29, 2001	By: /s/ DONALD A. SHARPE ----------------------------------- Donald A. Sharpe, President and Chief Executive Officer, Director (Principal Executive Officer)

EX-99.1

For Immediate Release
November 29, 2001

Nation Energy, Inc. Enters Farm-in Agreement with Olympia Energy, Inc.

Donald Sharpe, President and Chief Executive Officer of Nation Energy, announces today that the company has entered into a farm-in agreement with Olympia Energy Inc. under which Nation will share the development costs and profits in a new natural gas project in the Smoky area of Alberta, near the city of Grande Prairie. The companies finalized their agreement on November 27, 2001.

Under the terms of the farm-in, Nation will pay for 25% of the cost to drill and complete a 4800-meter well in the Smoky area of Alberta, and will earn a 15% interest, after payout, in the Smoky project. Drilling costs are estimated at $11,000,000 (Canadian) and completion costs are estimated at $1,000,000 (Canadian). Drilling on an initial well began on November 13th and is expected to take approximately 120 days.

The Smoky project is a seismically identified reef prospect. Nation believes that this prospect may have the potential for up to a trillion cubic feet of recoverable gas. The Smoky area has a good infrastructure of facilities and pipelines and there is existing production within 5 miles of the Smoky location.

To the extent any statements contained in this release deal with prospects or other information that is not historical, these statements are necessarily forward-looking. As such, they are subject to the occurrence of many events outside the Company's control and are subject to various risk factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statement. The risk factors are described in the Company's Securities and Exchange Commission filings. Prospective investors are cautioned not to place undue reliance on forward-looking statements.

For more information, contact:

Donald A. Sharpe
(800) 400-3969
Nation Energy, Inc.
Suite 1100 - 609 West Hastings Street
Vancouver BC CANADA V6B 4W4