Ausam announces grant of stock options



    /NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
    DISTRIBUTION SERVICES/

    TSX Venture Exchange - Symbol "AZE"

    CALGARY, Feb. 15 /CNW/ - Ausam Energy Corporation ("Ausam" or the
"Company") announces that the directors of the Company have approved the
granting of 155,000 stock options to certain employees, exercisable at a price
of C$1.65, and exercisable until January 24, 2013.

    About Ausam

    Ausam is a public company engaged in the business of oil and gas
exploration and development. Ausam, through its U.S. subsidiary Noram
Resources, Inc., has acquired a diverse portfolio of oil and gas leases and
prospects in Texas, Louisiana, Mississippi, Alabama and Arkansas. Ausam,
through its Australian subsidiary Ausam Resources Pty Ltd., holds interests in
permits in Queensland, Victoria and Western Australia. Ausam's growth strategy
includes the organic development of its current holdings and selective
corporate transactions. The Company trades under the symbol "AZE" on the TSX
Venture Exchange.

    William M. Hitchcock
    Chairman


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

    This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities of Ausam in any jurisdiction. The
securities of Ausam have not been registered under the United States
Securities Act of 1933, as amended (the "1933 Act"), or the securities laws of
any state of the United States, and may not be offered or sold in the United
States absent registration or an applicable exemption therefrom under the 1933
Act and the securities laws of all applicable states.

    %SEDAR: 00008979E




For further information:

For further information: Mark G. Avery, Ausam Energy Corporation,
President and CEO, 1430, 1122 - 4th Street S.W., mavery@ausamenergy.com,
Calgary, Alberta, T2R 1M1, Tel:(403) 215-2380, Fax: (403) 206-1457; Alastair
J. Robertson, Chief Financial Officer, arobertson@ausamenergy.com, Web site:
www.ausamenergy.com

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AUSAM ENERGY CORPORATION

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