Cobra Venture Corporation

Cobra Venture Corporation

December 17, 2007 19:16 ET

Cobra Venture Corporation Announces Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2007) - Cobra Venture Corporation ("Cobra") (TSX VENTURE:CBV) -

Cobra Venture Corporation (the "Corporation") (TSX VENTURE:CBV) announces the granting of 500,000 stock options to current directors, officers and consultants of the Corporation. The stock options permit each individual to purchase common shares of the Corporation at an exercise price of $0.34 per option, a price which equals the close of market trading price on December 17, 2007, for a period of five (5) years from the date of issuance. One quarter (1/4) of the options granted to each of the foregoing persons will vest immediately, with a further one quarter (1/4) to vest on the six, twelve and eighteen month anniversary of the granting of the options.

About Cobra Venture Corporation

Cobra is an oil and natural gas production and exploration company currently producing, exploring and developing oil and natural gas interests in SE Saskatchewan, Pembina, Alberta and NE British Columbia. Cobra is actively involved in prospect generation, and secures working interests at an early stage. Through farm out and royalty agreements Cobra joint ventures with third parties to operate and develop the prospects. Cobra retains key ownership positions in multiple projects and Cobra employs this strategy to minimize shareholder dilution and maximize shareholder asset value.

Cobra Venture Corporation is an emerging energy corporation focused on the acquisition and development of strategic oil and natural gas reserves in the Western Canada. Common shares of the corporation trade on the TSX Venture Exchange under the symbol CBV.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any sate securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

Contact Information

  • Cobra Venture Corporation
    Daniel B. Evans, President and CEO
    (604) 922-2030
    Canadian Toll Free: 1-888-888-9122
    US Toll Free: 1-888-888-9123
    QIS Capital
    Doren Quinton
    (250) 376-8989