Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
Effective December 8, 2008, Russ Hammond, Non-Executive Director, is stepping down from the CanArgo Board and leaving the Company.

Item 7.01. Regulation FD Disclosure.
December 8, 2008 - Guernsey, British Isles - CanArgo Energy Corporation ("CanArgo" or the "Company") (OSE: CNR, AMEX:CNR) today announced that Russ Hammond, Non-Executive Director, is stepping down from the CanArgo Board with immediate effect and leaving the Company.
Vincent McDonnell, Chairman, President and Chief Executive Officer, said: "I would like to thank Russ Hammond for his immense contribution to CanArgo over the years, having been a director of the Company since its inception, and I wish him all the best in the future."
The Company will consider appointing a replacement director to the Board in due course.
CanArgo is an independent oil and gas exploration and production company with its oil and gas operations currently located in Georgia.
The information in this item 7.01 (including its exhibit) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), or otherwise subject to liability of that section. The information in this report (including its exhibit) shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.
A copy of the Press Release is attached hereto as Exhibit 99.1,

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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:

Exhibit No. Exhibit Description

99.1 Press Release dated December 8, 2008 issued by CanArgo Energy Corporation.

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