/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, Oct. 6 /CNW/ - Action Energy Inc. ("Action") announces that it
granted options on October 6, 2008 to acquire up to 155,000 common shares of
Action, of which 50,000 were granted to an officer of Action. Each grant of
options is for a five year term, expiring on October 6, 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 $0.40 per common
share. There are now options outstanding to purchase a total of 4,986,083
common shares of Action, or approximately 8.71% of Action's issued and
outstanding common shares.
Action Energy Inc. is a Canadian junior oil and gas company engaged in
the exploration, development and production of oil and natural gas reserves in
the provinces of Alberta and Saskatchewan.
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.
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 & CFO,
Action Energy Inc., Telephone: (403) 264-1112; ACTION ENERGY INC., Suite 800,
350 - 7th Avenue, S.W. Calgary, Alberta, T2P 3N9, Phone: (403) 264-1112, Fax:
(403) 264-1116, E-mail: email@example.com, Website: