VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 03/28/12 — Palo Duro Energy Inc. (“Palo Duro” or the “Company”) (TSX VENTURE: PDE.H) announces that it has granted, pursuant to its stock option plan, options to purchase an aggregate of 1,285,000 of its common shares. The options were granted at an exercise price of $0.10 per share for a period of five years to directors, officers and employees of the Company.
Palo Duro Energy Inc.
Bill Koutsouras, President & CEO
Shares Outstanding: 32,218,347
Certain statements contained in this news release constitute “forward-looking information” as such term is used in applicable Canadian securities laws, including information regarding the granting of stock options. Forward-looking information is based on plans and estimates of management at the date the information is provided and certain factors and assumptions of management. Forward looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risks that the Acquisition may not close, the related to international operations and doing business in foreign jurisdictions, risks associated with the oil and gas industry and exploratory and development activities generally (e.g., operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, risks associated with equipment procurement and equipment failure), the risk of commodity price and foreign exchange rate fluctuations, risks related to future royalty rate changes, and risks and uncertainties associated with securing and maintaining necessary regulatory approvals.
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.
Contacts:
Palo Duro Energy Inc.
Investor Relations
1-604-639-4673
1-604-639-4670 (FAX)