CALGARY, April 2, 2012 /CNW/ - Stream Oil & Gas Ltd. (TSX-V: SKO) ("Stream" or the "Company") announces that the Board of Directors of the Company has granted under the Company's Stock Option Plan options to certain directors, officers, and consultants of the Company to acquire a total of 1,580,000 common shares of the Company for a period of five years at a price of $0.86 per share. The options are subject to a vesting schedule and any necessary regulatory approvals. The Options will not be exercisable unless and until the closing trading price of the common shares of the Company on the TSX-V has been at or greater than $1.10 per share for any 10 consecutive trading days during the period from April 2, 2012 to April 2, 2015 inclusive.
About Stream Oil & Gas Ltd.
Stream Oil & Gas Ltd. is a Canadian-based emerging oil and gas production, development and exploration company focused on the re-activation and re-development of three oilfields and a gas/condensate field in Albania. The Company's strategy is to use proven technology, incremental and enhanced oil recovery techniques to significantly increase production and reserves.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Dr. Sotirios Kapotas President & Chief Executive Officer P: (403) 531-2358
James Hodgson, Chief Financial Officer P: (403) 531-2358
Email [email protected]