Exall Energy Corporation

Exall Energy Corporation

August 14, 2007 10:35 ET

Exall Energy Announces Grant of Options

CALGARY, ALBERTA--(Marketwire - Aug. 14, 2007) - Exall Energy Corporation ("Exall Energy,")(TSX:EE) announced today that, under a resolution dated July 19, it has granted incentive stock options to Exall Energy's directors, officers, employees and consultants to acquire up to an aggregate of 1,475,000 common shares of Exall Energy under it's 2006 stock option plan. All Options are exercisable at $0.40 per share being greater than the closing price of Exall Energy's common shares on the TSX on the date immediately preceding the grant with each such option expiring five years from the date of grant. All options are subject to vesting conditions.

Exall Energy is a junior oil and gas company that was created to facilitate a plan of arrangement (the "Arrangement") by which Exall Resources Limited (now Gold Eagle Mines Ltd.), a TSX listed company, reorganized its business and transferred its oil and gas assets to Exall Energy. It is active in oil and gas exploration, development and production from its properties in Alberta, British Columbia, Texas and in the North Sea, offshore the United Kingdom.

There are 31,887,490 common shares outstanding.

Contact Information

  • Exall Energy Corporation
    Frank S. Rebeyka
    President and CEO
    (403) 237-7820
    Website: www.exall.com