Excelsior Energy Limited
TSX VENTURE : ELE

Excelsior Energy Limited

April 17, 2008 18:34 ET

Excelsior Announces Grant of Options

CALGARY, ALBERTA--(Marketwire - April 17, 2008) - Excelsior Energy Limited (TSX VENTURE:ELE) ("Excelsior" or the "Company") announces it has granted 350,000 options to purchase common shares at a price of $0.38 per share to directors of the Company in accordance with the Company's stock option plan.

About Excelsior Energy

Excelsior is active in oil sands exploration and appraisal in the Hangingstone and West Surmont areas near Fort McMurray, Alberta and will hold a 75% working interest in 58 contiguous sections on completion of its farm-in obligations. The Company also indirectly holds a 100% working interest in Blocks 16/1a and 16/6c in the UK North Sea and a minor interest in gas production in Alberta. Excelsior's strategy is to capture oil and gas appraisal and development opportunities where we can leverage Management's diverse international experience and field development expertise. This includes heavy oil reservoir engineering and development of complex fields.

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. Readers are cautioned not to place undue reliance on these statements.

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

Contact Information