IROC Energy Services Corp. Announces Stock Option Grants
January 08 2008 - 6:19PM
Marketwired Canada
THIS PRESS RELEASE IS NOT FOR DISSEMINATION IN UNITED STATES OR TO ANY UNITED
STATES NEWS SERVICES.
IROC Energy Services Corp. ("IROC" or the "Corporation") (TSX:ISC) announces
that pursuant to IROC's stock option plan, IROC has granted incentive stock
options to its directors and certain senior management employees to purchase up
to a total of 637,500 common shares in the capital stock of the Corporation,
exercisable over 5 years, at a price of $0.83 per share representing the five
day weighted average closing price on the Toronto Stock Exchange as of January
7, 2008.
The total number options outstanding of 2,364,583, subsequent to the above
grant, represent 5.3 per cent of the Corporation's issued and outstanding common
shares.
Publicly reported information for IROC Energy Services Corp. is available at
www.sedar.com.
About IROC Energy Services Corp.
IROC Energy Services Corp is an Alberta based oilfield services company that,
through the IROC Energy Services Partnership, supplies a comprehensive and
diverse range of products, services and equipment to the oil and gas industry,
including: IROC's well servicing division, Eagle Well Servicing, which operates
free standing single and double service rigs across Western Canada; IROC's
contract drilling division, Mission Drilling, which operates four contract
drilling rigs rated to depths of approximately 3400 meters; IROC's rental
division, Aero Rentals, which offers a wide range of rental equipment to the oil
and gas industry in the WCSB; IROC's lease construction division, Envirocore,
which offers lease building and road construction services; IROC's safety
division, IROC Safety, which has developed key technologies to address remote
air quality monitoring, designed and deployed air breathing systems and provides
a complete range of safety services for drilling, completion, production and
plant shut-down operations; IROC's communications division, Oricomm, which
provides premium communication solutions to a variety of customers in the oil
and gas industry; and Canada Tech Corp, which has developed and offers a wide
line of memory gauges and permanent monitoring systems that measure pressure and
temperature in the downhole and surface environment of oil and gas wells.
Cautionary Statements
Certain statements contained in this press release may constitute forward
looking statements concerning, among other things, expected revenues, expected
expenses, profits, developments and strategies for IROC's operations all of
which are subject to certain risks, uncertainties and assumptions. These forward
looking statements are identified by their use of terms and phrases such as
"anticipate", "continue", "estimate", "expect", "may", "will", "projected",
"should", "believe" and other similar terms and phrases. By its nature, such
forward looking information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward looking statements. These risks include, but
are not limited, to the risks associated with the oil and gas industry
generally, fluctuating prices in crude oil and natural gas, changes in drilling
activity, general global economic, political and business conditions, weather
conditions, regulatory changes and availability of products, qualified personnel
and manufacturing capacity and raw materials. If any of these uncertainties
materialize, or if assumptions are incorrect actual results may vary materially
from those expected. IROC relies on litigation protection for any forward
looking statements.
The Common Shares of IROC have not and will not be registered on the United
States Securities Act of 1933, as amended (the "United States Securities Act")
or any state securities laws are not offered or sold in the United States or to
any US person except in certain transactions exempt from the registration
requirements of the United States Securities Act and applicable state securities
laws.
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