Grant of Options (9831L)

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RNS Number : 9831L

Resaca Exploitation Inc

09 August 2011

 
 for IMMEDIATE releasE   9 AUGUSt 2011 
 

Resaca Exploitation, Inc.

("Resaca" or "the Company")

Grant of Options

Resaca (AIM: RSOX), the oil and natural gas production, exploitation, and development company focused on the Permian Basin in the USA, announces that on 8 August 2011 it granted the following options to directors:

 
 Name and Role                     No. of options 
--------------------------------  ---------------- 
 Judy Ley Allen, Director          30,000 options 
--------------------------------  ---------------- 
 John Bentley, Director            30,000 options 
--------------------------------  ---------------- 
 James Perry Bryan, Director and   100,000 options 
  CEO 
--------------------------------  ---------------- 
 John J. Lendrum, III, Director    30,000 options 
--------------------------------  ---------------- 
 R. Kelly Plato, Director          30,000 options 
--------------------------------  ---------------- 
 

All of the above options are exercisable at $1.45 per share and vest in 1/3(rd) increments on the first, second and third year anniversaries of the date of grant. They are exercisable from the date of vesting until the date which is the eighth year anniversary of the date of vesting.

For further information please contact:

 
 Resaca Exploitation, Inc. 
 J.P. Bryan, Chairman and Chief Executive 
  Officer                                              [phone] 
 John J. ("Jay") Lendrum, III, Vice Chairman           [phone] 
 Dennis Hammond, President and Chief 
  Operating Officer                                    [phone] 
 Chris Work, Chief Financial Officer                   [phone] 
 
 Buchanan Communications (Investor Relations)      [phone] 
 Tim Thompson 
  Helen Chan 
  Ben Romney 
 
 finnCap Limited (Nomad and Broker)              + 44 (0) 20 7600 1658 
 Sarah Wharry, Corporate Finance 
  Victoria Bates, Corporate Broking 
 

About Resaca

Resaca is an independent oil and gas development and production company based in Houston, Texas. Resaca is focused on the acquisition and exploitation of long-life oil and gas properties, utilizing a variety of primary, secondary and tertiary recovery techniques. Resaca's current properties are located in the Permian Basin of West Texas and Southeast New Mexico. Additional information is available at www.resacaexploitation.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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