Compass Petroleum Ltd.
TSX VENTURE : CPO

Compass Petroleum Ltd.

October 05, 2010 17:00 ET

Compass Petroleum Ltd. Announces Grant of Share Options

CALGARY, ALBERTA --(Marketwire - Oct. 5, 2010) - Compass Petroleum Ltd. (TSX VENTURE:CPO) announced today that its board of directors has granted options to acquire up to an aggregate of 900,000 common shares of the Corporation to certain officers, directors, employees and consultants, at an exercise price of $0.83 per share (being the weighted average trading price of the common shares on the TSX Venture Exchange for the five trading days ended September 29, 2010). Three of the four non-management directors of the Corporation were awarded options entitling them to acquire up to an aggregate of 200,000 common shares and four officers of the Corporation received options for the purchase of up to 450,000 common shares. All options were granted under the Corporation's share option plan. Options entitling holders to acquire up to an aggregate of 2,070,000 common shares of the Corporation are outstanding as at the date of this news release and an additional 1,132,352 options are available for grant under the option plan.

Compass Petroleum Ltd. is a junior oil and natural gas corporation engaged in the exploration, development and production of oil and natural gas in Alberta and Saskatchewan. The outstanding common shares of Compass Petroleum Ltd. are listed and posted for trading on the TSX Venture exchange, under the trading symbol "CPO".

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Contact Information

  • Compass Petroleum Ltd.
    Yook L. Mah
    President and CEO
    (403) 261-1911
    or
    Compass Petroleum Ltd.
    Graham Barnes
    CFO
    (403) 261-1911
    or
    Compass Petroleum Ltd.
    Calgary, Alberta, Canada
    info@compasspetroleum.com