Shona Energy Company, Inc. Announces Grant of Stock Options

    




 CALGARY, May 1, 2012 /CNW/ - Shona Energy Company, Inc. (SHO-TSX.V)  ("Shona" or "the Company"), an international oil and natural gas  exploration, development and production company focusing on South  America, today announced that it has granted a total of 7,230,000 stock  options - representing approximately 2.7% of all fully-diluted common  shares outstanding - to directors, officers and employees of the  Company. Each stock option entitles the holder thereof to acquire one  common share of the Corporation at an exercise price of $0.30 per  share, subject to regulatory approval. The options were issued pursuant  to the Company's stock option plan and expire on May 1, 2022. The  directors' options vest in halves, with one half vesting on June 30,  2012 and the other half vesting on December 31, 2012. The officers' and  employees' options have a 5 year vesting schedule, with one fifth  vesting on each of five anniversaries of issuance. 

 About Shona 

 Shona is an international oil and natural gas exploration, development  and production company focusing on South America, specifically Colombia  and Peru. The Company's assets currently include interests in the  Company-operated Esperanza block located in Colombia's Lower Magdalena  Basin, the non-operated Serrania, Los Picachos and Macaya Blocks in  Colombia's Caguan Basin, and the non-operated Block 102 in Peru's  Maranon Basin. The common shares of the Company trade on the TSX  Venture Exchange under the stock symbol "SHO". More information on the  Company is available at www.shonaenergy.com. 

 Cautionary Statements 

 The securities of Shona have not been and will not be registered under  the United States Securities Act of 1933, as amended and may not be  offered or sold in the United States absent registration or an  applicable exemption from the registration requirement.  This press  release shall not constitute an offer to sell or the solicitation of an  offer to buy nor shall there be any sale of the securities in any  jurisdiction in which such offer, solicitation or sale would be  unlawful. 

 Neither the 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 press  release. 

Shona Energy Company, Inc.


CONTACT:  David Gian, Treasurer & Investor RelationsShona Energy Company, Inc.Houston, Texas713-622-8809Shetal Mentlewski, VP Admin & LegalShona Energy Company, Inc.Houston, Texas713-622-8809 


    

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