Rooster Energy Ltd.
TSX VENTURE : COQ

Rooster Energy Ltd.

September 11, 2013 23:08 ET

Rooster Energy Announces the Award of Stock Options to Directors, Officers and Employees

CALGARY, ALBERTA--(Marketwired - Sept. 11, 2013) - ROOSTER ENERGY LTD. (the "Company") (www.roosterenergyltd.com) (TSX VENTURE:COQ) is pleased to announce that pursuant to its Amended Stock Option Plan approved by shareholders at the Annual General and Special Meeting held on July 16, 2013, the Directors of the Company have granted all directors, senior officers and certain employees of a wholly owned subsidiary of the Company, options to purchase 4,532,759 common shares of the Company at an exercise price equal to the price of the Company common stock at the closing of the market on September 11, 2013.

The award is effective on September 11, 2013 and the stock options will expire unless exercised ten years from the date of grant or on September 11, 2023. The options are exercisable on a three year graded vesting schedule beginning with one third of the options vesting on the first anniversary of the grant date and then one third on each of the second and third anniversaries. The options are subject to the terms and conditions of the Amended Stock Option Plan.

The Company maintains a fixed stock option plan with a total of 21,093,164 shares reserved for award to qualified participants.

ABOUT ROOSTER ENERGY LTD.

The Company is an independent oil and natural gas exploration and production company based in Houston, Texas that is focused on the development of resources in the shallow waters of the U.S. Gulf of Mexico. At June 30, 2013, our primary assets consist of interests in 17 producing oil and/or natural gas wells and interest in 19 federal leases or blocks. The Company is the operator of the majority of its properties and daily oil and gas production.

Investors are welcome to visit our website at www.roosterenergyltd.com.

Contact Information

  • For all corporate updates and investor inquiries:
    Rooster Petroleum, LLC
    Gary L. Nuschler, Jr.
    Vice President - Finance
    (832) 463-0625
    www.roosterenergyltd.com