April 12, 2006 12:08 ET

Tuscany Announces Granting of Share Options

CALGARY, ALBERTA--(CCNMatthews - April 12, 2006) - Tuscany Energy Ltd. (TSX VENTURE:TUS) announced today that its Board of Directors has approved the issuance of stock options effective April 12, 2006, to purchase 540,000 common shares of the Corporation at a price of $0.34 per share, exercisable until April 13, 2011.

The options are being issued to employees and consultants of the Corporation in accordance with Tuscany's share option plan dated June 26, 2003, as amended on June 23, 2005.

The total number of options outstanding after the issuance is 1,040,000, or 4.1% of the issued and outstanding common shares of the Corporation.

Tuscany is an emerging junior oil and gas company engaged in the acquisition, exploration and development of oil and natural gas reserves in western Canada.

Forward-looking statements - statements included in this press release that are not historical facts may be considered "forward-looking statements." All estimates and statements that describe the Company's objectives, goals or future plans are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

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

Contact Information

  • Tuscany Energy Ltd.
    Greg T. Busby
    President & CEO
    (403) 264-2398
    (403) 264-2399 (FAX)
    Tuscany Energy Ltd.
    Robert W. Lamond
    (403) 269-9889
    (403) 269-9890 (FAX)