Rage Energy Ltd.

March 15, 2007 09:20 ET

Rage Announces Strategic Partnerships, Corporate Changes and Grant of Stock Options

CALGARY, ALBERTA--(CCNMatthews - March 15, 2007) - Rage Energy Ltd. ("Rage" or the "Company") (TSX VENTURE:RAG) is pleased to announce the engagement of Leede Financial Markets Inc. ("Leede") and Petrel Robertson Consulting Ltd. ("Petrel") to assist in Rage's identification of international oil and gas investment opportunities. Rage's long term strategy is to capture and develop medium scale petroleum prospects in countries of low geopolitical risk with relatively mature industry infrastructure.

Leede will provide financial advisory and investment banking services and Petrel shall provide technical advisory services relating to the identification and evaluation of oil and gas investment opportunities for Rage.

Rage also announces the resignation of Richard W. DeVries as a Director and as Chairman of the Board of the Directors and Jane Batchelor as Controller. Both individuals cite personal reasons for their departures. Replacements for Mr. DeVries and Ms. Batchelor will be announced at a later date. Rage would like to thank Mr. DeVries and Ms. Batchelor for their contributions to the Company and wish them well in their future endeavours.

In addition, Rage announces that, pursuant to the Company's stock option plan and the policies of the TSX Venture Exchange, the board of directors has approved the grant of stock options to directors and officers of the Company to acquire an aggregate of 1,050,000 common shares. The options will be exercisable at $0.10 per share for a period of five years.

Rage is a public oil and gas company engaged in oil and gas exploration, development and production in the western Canadian sedimentary basin and internationally.

This press release contains forward-looking statements. These forward-looking statements can generally be identified as such because of the context of the statements including words such as the Company "believes", "anticipates", "expects", "plans", "may", "estimates" or words of a similar nature. These statements are based on current expectations and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, readers are cautioned and no assurances can be given that any of the events anticipated by the forward-looking statements will occur, or if any of them do so, what benefits that we will derive there from. The Company does not undertake any obligation to publicly update or revise any forward-looking statements.

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

Contact Information

  • Rage Energy Ltd.
    Nick Topolnyski
    President & CEO
    (403) 690-7244