Stream Oil & Gas Ltd. Stock Option Grant

    TSX-V: SKO

    VANCOUVER, Feb. 20 /CNW/ - Stream Oil & Gas Ltd. (the Company) announces
that, pursuant to the policies of the TSX Venture Exchange and the Company's
Stock Option Plan, the Board of Directors of the Company has approved the
grant of options to certain officers, employees and consultants of the Company
to acquire a total of 650,000 common shares for a period of two years at a
price of $0.20. Of the options granted, 300,000 were to an officer of the
Company. The options are subject to a vesting schedule in accordance with the
Company's Stock Option Plan. The issuance of the options is subject to
regulatory approval.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00022735E

For further information:

For further information: Stream Oil & Gas Ltd, 500-666 Burrard St.,
Vancouver, BC, Canada, V6C 3P6, Tel: (604) 642-6168, Fax: (604) 608-9314.
Sotirios Kapotas is responsible for this news release and can be contacted at
the Company's head office above, or by email The
Company's CFO, Angela Huxham, can be contacted at (604) 642-6168 or by email

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