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Message: Stock Option Grants
| January 30, 2009 |
| Contact Exploration Inc.: Stock Option Grants |
| CALGARY, ALBERTA--(Marketwire - Jan. 30, 2009) - Contact Exploration Inc. ("Contact") (TSX VENTURE:CEX) - Contact announces that it has today granted an aggregate of 1,575,000 options to purchase common shares to directors, officers and consultants of Contact, at an exercise price of $0.10 per common share, exercisable for five years, in accordance with Contact's Stock Option Plan as re-approved by shareholders at the annual general and special meeting held in November, 2008. About Contact Exploration Inc. Contact Exploration Inc. is a junior exploration company with a focus on Canadian East Coast onshore conventional exploration, shale gas exploration & oil production. Contact's holdings and operations are located in close proximity to one of the world's largest consumption markets, near strong pipeline and refining infrastructure and in mature jurisdictions with reasonable royalty structures in place. Contact's philosophy is to operate production and exploration in our core area of Atlantic Canada, and to participate in unconventional shale gas exploration, such as the Windsor Shale Block in Nova Scotia (a prospect which was generated by Contact). Contact has onshore interests in approximately 700,000 acres in Nova Scotia, approximately 70,000 acres in west Newfoundland and 165,000 acres in New Brunswick which includes the Stoney Creek Field (approximately 5,500 acres), a field with estimated proved and probable reserves of 1.2 million barrels of oil and 7.2 bcf of natural gas. In addition to the Atlantic Canadian properties, Contact has producing oil assets in south eastern Saskatchewan. |
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