CALGARY, Nov. 25 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSXV: SGY) announces that 660,000 options with an exercise price of $6.86 have been granted to officers and directors of the Company. The stock options have been granted pursuant to the Company's stock option plan and one third of the options granted will vest on the each of the first, second, and third anniversaries of the date of grant. The board of directors approved the options as a result of Surge's strong performance and to bring the compensation of the officers and directors more in line with the Company's peer group. Subsequent to this stock option grant, Surge will have approximately 2.7 million stock options outstanding.
Surge is an oil focused oil and gas company with operations throughout Alberta and southwest Manitoba. Surge's common shares trade on the TSX Venture Exchange under the symbol SGY and currently has 55.8 million basic and 60.9 million fully diluted common shares outstanding.
Neither the 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.