IROC Energy Services Corp.
TSX : ISC

IROC Energy Services Corp.

January 08, 2008 20:19 ET

IROC Energy Services Corp. Announces Stock Option Grants

CALGARY, ALBERTA--(Marketwire - Jan. 8, 2008) -

THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY UNITED STATES NEWS SERVICES.

IROC Energy Services Corp. ("IROC" or the "Corporation") (TSX:ISC) announces that pursuant to IROC's stock option plan, IROC has granted incentive stock options to its directors and certain senior management employees to purchase up to a total of 637,500 common shares in the capital stock of the Corporation, exercisable over 5 years, at a price of $0.83 per share representing the five day weighted average closing price on the Toronto Stock Exchange as of January 7, 2008.

The total number options outstanding of 2,364,583, subsequent to the above grant, represent 5.3 per cent of the Corporation's issued and outstanding common shares.

Publicly reported information for IROC Energy Services Corp. is available at www.sedar.com.

About IROC Energy Services Corp.

IROC Energy Services Corp is an Alberta based oilfield services company that, through the IROC Energy Services Partnership, supplies a comprehensive and diverse range of products, services and equipment to the oil and gas industry, including: IROC's well servicing division, Eagle Well Servicing, which operates free standing single and double service rigs across Western Canada; IROC's contract drilling division, Mission Drilling, which operates four contract drilling rigs rated to depths of approximately 3400 meters; IROC's rental division, Aero Rentals, which offers a wide range of rental equipment to the oil and gas industry in the WCSB; IROC's lease construction division, Envirocore, which offers lease building and road construction services; IROC's safety division, IROC Safety, which has developed key technologies to address remote air quality monitoring, designed and deployed air breathing systems and provides a complete range of safety services for drilling, completion, production and plant shut-down operations; IROC's communications division, Oricomm, which provides premium communication solutions to a variety of customers in the oil and gas industry; and Canada Tech Corp, which has developed and offers a wide line of memory gauges and permanent monitoring systems that measure pressure and temperature in the downhole and surface environment of oil and gas wells.

Cautionary Statements

Certain statements contained in this press release may constitute forward looking statements concerning, among other things, expected revenues, expected expenses, profits, developments and strategies for IROC's operations all of which are subject to certain risks, uncertainties and assumptions. These forward looking statements are identified by their use of terms and phrases such as "anticipate", "continue", "estimate", "expect", "may", "will", "projected", "should", "believe" and other similar terms and phrases. By its nature, such forward looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking statements. These risks include, but are not limited, to the risks associated with the oil and gas industry generally, fluctuating prices in crude oil and natural gas, changes in drilling activity, general global economic, political and business conditions, weather conditions, regulatory changes and availability of products, qualified personnel and manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect actual results may vary materially from those expected. IROC relies on litigation protection for any forward looking statements.

The Common Shares of IROC have not and will not be registered on the United States Securities Act of 1933, as amended (the "United States Securities Act") or any state securities laws are not offered or sold in the United States or to any US person except in certain transactions exempt from the registration requirements of the United States Securities Act and applicable state securities laws.

Contact Information

  • IROC Energy Services Corp.
    Mr. Thomas M. Alford
    President and CEO
    (403) 263-1110
    or
    IROC Energy Services Corp.
    Mr. Kevin Howell
    CFO
    (403) 263-1110
    Email: email: investorrelations@iroccorp.com