/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
ANY UNITED STATES NEWS SERVICE. ANY FAILURE TO COMPLY WITH THIS
RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
TSX-V Symbol "AEC"
CALGARY, June 2 /CNW/ - Action Energy Inc. ("Action") announces that it
granted options to acquire up to 429,000 common shares of Action, 280,000 of
which were granted to directors and officers. Each grant of options is for a
five year term, expiring on June 1, 2013. The options vest over three years
(1/3 on each of the first, second and third anniversary of the grant date).
The options are exercisable at a price of $1.26 per common Share.
For further information, the full 2007 Audited Financial Statements,
Management Discussion and Analysis and the Annual Information Form have been
posted on the Company's website: www.action-energy.com or, alternatively, can
be viewed at www.sedar.com.
As at May 31, 2008, the Company had 57,256,792 common shares outstanding
and 4,622,342 options outstanding at an average exercise price of $3.38.
Action Energy Inc. is a publicly traded Calgary, Alberta based junior oil
and natural gas exploration and production company with operations
concentrated in core areas in southern Saskatchewan and central and southern
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Kelly D. Kerr, Vice-President, Finance and
Chief Financial Officer, Action Energy Inc., ACTION ENERGY INC.: Suite 800,
350 - 7th Avenue S.W., Calgary, Alberta, T2P 3N9, Phone: (403) 264-1112, Fax:
(403) 264-1116, E-mail: firstname.lastname@example.org, Website: