Blacksands Revises Stock Option Plan, Grants Stock Options

Blacksands Petroleum, Inc. reported that the Board of Directors approved a revised stock option plan for the Company on February 15, 2008. The revised stock option plan is subject to regulatory and shareholder approvals.

As well, the Company reported that on February 15, 2008, it granted 2,200,000 stock options to officers, directors and consultants of the Company. These options are exerciseable at $1.90 per share for a term of five years, subject to all necessary approvals.