DENVER, April 17 /CNW/ - Kodiak Oil & Gas Corp. (TSX Venture: KOG;
GGF.PK) announces today the grant of 1,300,000 incentive stock options to
certain directors and officers. The options were granted under the Company's
Incentive Stock Option Plan and are exercisable at the price of Cdn$3.51 per
share for a period of five years from the date of the grant. The option price
was determined in accordance with the policies of the TSX Venture Exchange
based upon the last closing price of the common stock. Each director of the
Company was granted an option to acquire 100,000 shares which will vest
immediately. In addition, the two principal officers of the Company were each
granted an option to acquire 400,000 shares of which 100,000 vest immediately,
150,000 shares would vest on April 1, 2007 and 150,000 would vest on April 1,
2008.
About Kodiak Oil & Gas Corp.
----------------------------
Kodiak Oil & Gas, headquartered in Denver, is an independent energy
exploration and development company focused on exploring, developing and
producing oil and natural gas in the Williston and Greater Green River Basins
in the U.S. Rocky Mountains. The common shares of the Company are listed for
trading on the TSX Venture Exchange under the symbol "KOG" and the U.S. symbol
"KOGGF."
Forward-Looking Statements
--------------------------
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions, including the
Company's expectations regarding the amount of capital resources available to
the Company to fund its planned capital expenditures and the application of
such capital resources; estimates of future production and reserves; and the
Company's expectations regarding the nature, timing and success of its
exploration and drilling programs. These statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements inherently involve risks and uncertainties
that could cause actual results to differ materially from the forward-looking
statements. Factors that could cause or contribute to such differences
include, but are not limited to, fluctuations in the prices of oil and gas;
risks inherent in the oil & gas industry, such as operational risks in
exploring for, developing and producing oil and natural gas; uncertainties
inherent in estimating quantities of oil and gas reserves and projecting
future rates of production and the timing and cost of exploration and
development activities; competition; operating risks; acquisition risks;
liquidity and capital requirements; the effects of governmental regulation;
adverse changes in the market for the Company's oil and gas production;
dependence upon third-party vendors; and other risks detailed in the Company's
periodic report filings with the Securities and Exchange Commission.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
If you would like to receive press releases via email contact
Heather Colpitts (heather(at)chfir.com) and specify "Kodiak releases"
in the subject line.
%SEDAR: 00007900E
