Redcliffe Exploration Inc.
TSX VENTURE : RXI.A
TSX VENTURE : RXI.B

Redcliffe Exploration Inc.

December 21, 2007 15:00 ET

Redcliffe Announces Stock Option Grant

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Redcliffe Exploration Inc. ("Redcliffe" or the "Company") (TSX VENTURE:RXI.A) (TSX VENTURE:RXI.B) announces that, pursuant to the policies of the TSX Venture Exchange and the Company's stock option plan, the Board of Directors of Redcliffe has approved the grant of stock options to certain directors, officers, employees and consultants of the Company to acquire an aggregate of 2,316,000 Class A shares at an exercise price of $0.40 per share for a period of five years. Of the aggregate options granted, 1,661,000 were to directors and officers.

Redcliffe is a Calgary, Alberta based company engaged in the exploration for, and development and production of conventional crude oil and natural gas reserves in western Canada. Redcliffe's strategy is to build shareholder value through internally generated exploration and development drilling, and through selective acquisitions. Redcliffe's areas of operational focus include the Pembina and Peace River Arch areas of Alberta.

Forward-Looking Statements: This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

The TSX Venture Exchange, Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Redcliffe Exploration Inc.
    Daryl H. Connolly
    President & CEO
    (403) 539-8440
    (403) 539-8433 (FAX)
    Email: dconnolly@redcliffe.ca
    or
    Redcliffe Exploration Inc.
    George Gramatke
    Vice President, Finance & CFO
    (403) 539-8442
    (403) 539-8433 (FAX)
    Email: ggramatke@redcliffe.ca