Canoro Resources Ltd.

Canoro Resources Ltd.

October 19, 2005 13:54 ET

Canoro Grants Options to New Director

CALGARY, ALBERTA--(CCNMatthews - Oct. 19, 2005) - Canoro Resources Ltd. (TSX VENTURE:CNS) announces that yesterday it granted 150,000 options to purchase common shares for a five year term under the Company's Stock Option Plan to John Boyd, Canoro's newest director. The exercise price is $0.50 per share.

The grant of options is consistent with the objective of providing long term incentives to directors, executive officers and key personnel of the Company, and continuing to align their interest with that of shareholders of the Company.

Canoro is a Canadian-based international oil and gas company operating in the prolific Assam/Arakan basin of northeast India. The Company is testing and rehabilitating production from the suspended Amguri oil and gas field where it is the operator and has a 60% working interest. Canoro is the operator with a 65% working interest of the 1,450 km2 AA-ON/7 exploration block, and has a 30% working interest in the 295 km2 AA-ONN-2003/02 exploration block. Common shares of Canoro trade on the TSX Venture Exchange under the symbol 'CNS'.

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

Contact Information

  • Canoro Resources Ltd.
    Rob McInnis
    Manager, Investor Relations
    (403) 543-5748
    (403) 543-5740 (FAX)
    Canoro Resources Ltd.
    2810, 715 - 5th Ave SW
    Calgary, Alberta T2P 2X6