Orleans Energy Ltd.
TSX VENTURE : OEX

Orleans Energy Ltd.

October 02, 2007 13:34 ET

Orleans Energy Announces New Board Member

CALGARY, ALBERTA--(Marketwire - Oct. 2, 2007) - Orleans Energy Ltd. (TSX VENTURE:OEX) ("Orleans" or the "Company") is pleased to announce the appointment of Doug Baker, B.Comm, FCA, to the Board of Directors of Orleans (the "Board"). Mr. Baker of Calgary, Alberta is a professional chartered accountant who has been continuously active in the oil and gas industry for the past 32 years. Most recently, prior to his retirement in September 2006, he was Vice President Finance and Chief Financial Officer of a TSX-listed, oil and gas company. Mr. Baker further augments the Company's Board with his diverse accounting, finance and corporate governance expertise and is presently the Chair of the CA School of Business and the Vice Chair of the Canadian Institute of Chartered Accountants.

In connection with Mr. Baker's appointment to Orleans' Board, the Company has granted Mr. Baker 60,000 stock options with an exercise price of $2.70 per stock option. The stock options have been granted pursuant to the Company's stock option plan and will vest over a three-year period with a five-year expiry. Subsequent to this stock option grant, Orleans will have a total of 3,130,693 stock options outstanding.

Orleans Energy Ltd. is a Calgary, Alberta-based crude oil and natural gas company, with common shares trading on the TSX Venture Exchange under the symbol "OEX". Orleans is a team of dedicated, experienced professionals focused on the creation of shareholder value through the acquisition, exploration and development of crude oil and natural gas assets within the province of Alberta, Canada.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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