Triton Energy Corp.
TSX VENTURE : TEZ

Triton Energy Corp.

March 13, 2009 17:12 ET

Triton Grants Stock Options

CALGARY, ALBERTA--(Marketwire - March 13, 2009) - Triton Energy Corp. (TSX VENTURE:TEZ) ("Triton" or the "Corporation") announces that it has granted stock options to purchase an aggregate of 3,125,000 common shares of the Corporation at an exercise price of $0.21 per common share ("Options"), which reflects the weighted average trading price of the Corporation's common shares on the TSX Venture Exchange over the prior five-day trading period. Of the total number of Options granted, 500,000 were granted to outside directors of the Corporation and 2,100,000 were granted to officers of the Corporation. The Options vest over a two-year period from the date of grant and expire five years from the date of grant. The Options were granted in accordance with the Corporation's shareholder approved stock option plan, which reserves for issuance on exercise of stock options a maximum of ten per cent of the number of common shares of the Corporation outstanding, from time to time. There are currently 40,707,637 common shares of the Corporation outstanding and following the grant of the Options there are a total of 3,675,000 stock options outstanding.

Triton is a Calgary, Alberta based Corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TEZ".

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

Contact Information

  • Triton Energy Corp.
    Michael S. Zuber
    President & CEO
    (403) 266-5541 ext. 222
    (403) 266-5579 (FAX)
    Email: mzuber@tritonenergy.ca
    or
    Triton Energy Corp.
    Dean J. Schultz
    Vice President, Finance & CFO
    (403) 266-5541 ext. 229
    (403) 266-5579 (FAX)
    Email: dschultz@tritonenergy.ca