Invicta Oil & Gas Ltd.

Invicta Oil & Gas Ltd.

September 21, 2007 13:10 ET

Invicta Oil & Gas Ltd. Enters Into Investor Relations Agreement; Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 21, 2007) - Invicta Oil & Gas Ltd. ("Invicta") (TSX VENTURE:IGG) announces that it has engaged Kin Communications Inc. ("Kin Communications") to provide investor relations and corporate communications services to Invicta.

Under the Investor Relations Agreement, Invicta will pay Kin Communications a monthly fee of $7,500 and has issued to Kin Communications 350,000 stock options with an exercise price of $0.67 per share. The options are exercisable for the lesser of a five year term or 30 days following termination of the agreement, and 25% of the options will vest each quarter. The agreement has an initial term of 12 months and shall continue on a month to month basis thereafter, until termination. The agreement is subject to regulatory approval.

Kin Communications operates out of Vancouver, B.C. Kin Communications and Mr. Arlen Hansen, its principal, are at arm's length to Invicta. Neither Kin nor Mr. Hansen owned any securities of Invicta prior to the grant of stock options.

Invicta also announces that it has granted an additional 379,000 stock options pursuant to its previously approved stock option plan to directors, officers and consultants of the company. The options were granted at an exercise price of $0.67 cents per share for a period of five years.

This news release may contain forward-looking statements based on assumptions and judgments of management of Invicta regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forwardlooking statements. Invicta disclaims any intention or obligation to revise or update such statements except as may be required by law.

Shares Outstanding: 44,660,000

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

Contact Information

  • Invicta Oil & Gas Ltd.
    Paul Larkin
    (604) 687-7767
    (604) 688-9895 (FAX)