These lands are considered prospective for coalbed and conventional natural gas. Rentals have been paid in the amount of $9,395.00 USD and the lease is valid until December 31, 2008. Storm Cat has agreed to pay all future rentals in exchange for a 100% working interest (84.8% net revenue interest in Lease # ADL 389937).
The corporation also announces it has granted, under its Stock Option Plan, incentive stock options to Ron Sutsch, International Landman, based in Calgary and to Robert Penner, recently appointed Director, for a total of 100,000 common shares in the capital of the company exercisable for a period of five years ending on January 7, 2010, at a price of $5.70 per share.
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