Rolland Energy signs investor relations agreement with Downshire Capital, amends stock option plan, grants incentive stock options



    MONTREAL, Oct. 31 /CNW Telbec/ - Rolland Energy Inc. (TSX-V: ROE, the
"Corporation"), is pleased to provide the following update to shareholders:

    Investor Relations:

    The Corporation announces that effective October 29, 2007 it has retained
Downshire Capital Inc. ("Downshire") to provide the Corporation with investor
relations services. The Agreement is for a period of six months and is
cancelable with one month prior written notice.
    The Corporation has agreed to pay fees of $7,500 per month to Downshire.
In addition, the Corporation has granted Downshire stock options to purchase
600,000 common shares with an exercise price of $0.10 expiring on the earlier
of October 23, 2012 or 30 days following the cancellation of the agreement. If
there is a consolidation of the Corporation's shares, the exercise price will
be $0.075 multiplied by the consolidation ratio as long as the exercise price
is at minimum $0.10. The options vest in twelve equal monthly amounts over
twelve months. The total cost of the Agreement over six months will be
$45,000. The Agreement is subject to the approval of the TSX Venture Exchange
and other applicable regulatory authorities.

    Downshire is a privately owned Canadian corporation, at arms length from
Rolland Energy.

    Amending of Stock Option Plan:

    By resolution of the board of directors, the Corporation has amended its
stock option plan. The "Amended Stock Option Plan" is a rolling plan, which
will permit the corporation to grant stock options to purchase up to 10% of
shares issued and outstanding. Previously, the plan had been fixed at 15% of
shares issued and outstanding. The Amended Stock Option Plan is subject to the
approval of the TSX Venture Exchange and any other applicable regulatory
authorities.

    Grant of Incentive Stock Options:

    Under the Amended Stock Option Plan, the Corporation has granted to
directors and employees stock options to purchase a total of 4,737,780 shares
with an exercise price of $0.10 expiring on the earlier of October 23, 2012 or
90 days following the end of their employment with the Corporation. If there
is a consolidation of the Corporation's shares, the exercise price will be
$0.075 multiplied by the consolidation ratio as long as the exercise price is
at minimum $0.10. All stock options grants are subject to the approval of the
Amended Stock Option Plan by the TSX Venture Exchange and any other applicable
regulatory authorities.

    ABOUT ROLLAND ENERGY INC. - www.rollandenergy.com

    Rolland Energy is a light crude oil producer based in south-western
Manitoba, building shareholder value through growth by combining low-risk
drilling and strategic acquisitions.

    ABOUT DOWNSHIRE CAPITAL - www.downshirecapital.com

    Downshire Capital is a private investment banking group providing
top-quality services to a select group of entrepreneurial corporate clients,
and assisting them in developing and implementing their capital and financial
goals.

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




For further information:

For further information: Downshire Capital: Dan Ryan; Dave Herbert,
(514) 315-3669; Rolland Energy Inc.: Michael McLellan, (514) 333-9292

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