PETROFLOW ENERGY LTD. (TSX Symbol - PEF; NYSE Alternext Symbol - PED)
CALGARY, Feb. 23 /CNW/ - Petroflow Energy Ltd. ("Petroflow" or the
"Company") is pleased to announce that the Company's Board of Directors has
approved the granting of 60,000 stock options to one of its directors pursuant
to Petroflow's existing Stock Option Plan.
Each option entitles the holder to acquire one common share of Petroflow
at an exercise price of CDN $1.34 expiring five (5) years from the date of
grant. The options vest as to 1/3 on the date of grant, 1/3 on the first (1st)
anniversary of the date of grant and 1/3 on the second (2nd) anniversary of
the date of grant.
The TSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release.
For further information:
For further information: Mr. John Melton, President & CEO, Petroflow
Energy Ltd., (985) 796-8080, www.petroflowenergy.com; Mr. Duncan Moodie, CFO,
Petroflow Energy Ltd., (403) 539-4320, www.petroflowenergy.com