CALGARY, June 27 /CNW/ - Sharon Energy Ltd. announced today that its
Board of Directors has approved the issuance of stock options, effective June
25, 2008, to purchase 1,350,000 common shares of the Corporation at a price of
$0.27 per share, exercisable until June 25, 2013. The issuance of stock
options was recommended by Sharon's Compensation Committee.
The options are being issued to Directors and Employees of the
Corporation in accordance with Sharon's Share Option Plan dated July 22, 2003.
The total number of options outstanding after the issuance is 3,997,500,
or 5.3% of the issued and outstanding common shares of the Corporation.
Sharon is an oil and gas exploration and production company based in
Calgary, Alberta. Sharon's current focus is on gas exploration in Texas.
Forward-looking statements - the press release today contains
"forward-looking" information. Actual results could differ materially from the
conclusions, forecasts or projections in the forward-looking information.
Certain material factors and assumptions were applied in drawing the
conclusions or making the forecasts or projections as reflected in the
forward-looking information. Additional information about the material factors
that could cause actual results to differ materially from the conclusion,
forecast or projection in the forward-looking information and the material
factors or assumptions that were applied in drawing the conclusion or making
the forecast or projection as reflected in the forward-looking information is
contained in the press release.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
For further information:
For further information: H.C. (Kip) Ferguson, III, President, Houston,
Texas, SHARON ENERGY LTD., Telephone: (713) 789-5395, Fax: (713) 789-8454,
TSXV: SHY; Robert W. Lamond, Chairman, Calgary, Alberta, SHARON ENERGY LTD.,
Telephone: (403) 269-9889, Fax: (403) 269-9890