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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001092306-06-000090.txt : 20060209
<SEC-HEADER>0001092306-06-000090.hdr.sgml : 20060209
<ACCEPTANCE-DATETIME>20060209145751
ACCESSION NUMBER:		0001092306-06-000090
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051231
FILED AS OF DATE:		20060209
DATE AS OF CHANGE:		20060209

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Lindsay Johnathan
		CENTRAL INDEX KEY:			0001346134

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51663
		FILM NUMBER:		06592610

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		303-985-9324

	MAIL ADDRESS:	
		STREET 1:		T13-1501 HOWE STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6Z 2P8

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			URANIUM ENERGY CORP
		CENTRAL INDEX KEY:			0001334933
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS METAL ORES [1090]
		IRS NUMBER:				980399476
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		AUSTIN CENTER
		STREET 2:		701 BRAZOS, SUITE 500 PMB#
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78701
		BUSINESS PHONE:		512-721-1022

	MAIL ADDRESS:	
		STREET 1:		AUSTIN CENTER
		STREET 2:		701 BRAZOS, SUITE 500 PMB#
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78701
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>lindsayj5_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2005-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0001334933</issuerCik>
        <issuerName>URANIUM ENERGY CORP</issuerName>
        <issuerTradingSymbol>URME</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001346134</rptOwnerCik>
            <rptOwnerName>Lindsay Johnathan</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>T13-1501 HOWE STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>VANCOUVER</rptOwnerCity>
            <rptOwnerState>A1</rptOwnerState>
            <rptOwnerZipCode>V6Z 2P8</rptOwnerZipCode>
            <rptOwnerStateDescription>BRITISH COLUMBIA, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock $0.001 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2005-12-05</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2005-12-05</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>265574</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.002</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>265574</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.50</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-12-20</value>
            </transactionDate>
            <deemedExecutionDate>
                <value>2005-12-20</value>
            </deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>200000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-12-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2015-12-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>200000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>200000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The 265,574 shares were acquired by Mr. Lindsay prior to Uranium Energy Corp. becoming a reporting company under the
 Securities Exchange Act of 1934; thus, 15,574 shares were acquired at $0.30 per share and 250,000 shares were acquired at
 $0.002 per share.</footnote>
        <footnote id="F2">Granted in accordance with the terms and provisions of the 2005 Stock Option Plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ JOHNATHAN LINDSAY</signatureName>
        <signatureDate>2006-01-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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