CALGARY, ALBERTA -- (Marketwired) -- 05/06/15 -- 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 wholly owned subsidiaries of the Company, options to purchase 10,145,963 common shares of the Company, each at an exercise price equal to the price of the Company common stock at the closing of the market on May 6, 2015.
The award is effective on May 6, 2015 and the stock options will expire unless exercised ten years from the date of grant or on May 6, 2025. 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. When originally adopted, there were a total of 21,093,164 common shares reserved for award to qualified participants. Subsequent to the award on May 6, 2015, there are 1,750,476 common shares available for award to qualified participants.
ABOUT ROOSTER ENERGY LTD.
Rooster Energy Ltd. is a Houston, Texas, based independent oil and natural gas exploration and production company focused on the development of resources in the shallow waters of the Gulf of Mexico and the delivery of well intervention services, including well plugging and abandonment, through its wholly owned subsidiary, Morrison Well Services, LLC. Our primary assets consist of interests in 17 federal oil and gas leases, 9 leases granted by the state of Louisiana, and 16 rigless units of well intervention equipment. 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 or contact the following for all corporate updates and investor inquiries.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
Rooster Petroleum, LLC
Gary Nuschler, Jr.
16285 Park Ten Place, Suite 120
Houston, Texas, USA 77084