Indocan Engages Investor Relations Contract with Stock Charter Group

LONDON, Oct. 18  /PRNewswire-FirstCall/ -- Indocan Resources Inc. (OTC:IDCN) today announces that the Company has engaged in an Investor Relations Agreement with Stock Charter Group. Stock Charter Group is a full service international investor relations company advising and assisting clients in all facets of investor relations including corporate finance projects. Stock Charter Group's office is located in North Carolina. Stock Charter Group and its principals currently hold a beneficial interest in shares of the Company.

Indocan Resources has authorized Stock Charter Group to explore financing sources to expand its exposure in various oil production areas, achieve visibility in worldwide markets, maintaining and fostering a new investor base, create a reliable secondary market, and enter into new capital markets.

Stock Charter Group will receive for their services 80,000,000 stock options: 10,000,000 exercisable at the price of $0.002; 10,000,000 exercisable at the price of $0.003; 10,000,000 exercisable at the price of $0.004; 10,000,000 exercisable at the price of $0.006; 10,000,000 exercisable at .008; 10,000,000 at the price of $0.01 and 20,000,000 exercisable at $0.02. The Stock Options will be granted in accordance with the Company's Stock Option Plan and will have vesting provisions attached to it. Stock options will take effect upon the signing of this agreement until the termination of this agreement by either party. This shall be payment for services provided by Stock Charter Group for the next twelve months. This contract is subject to renewal.

Indocan has mining interest as well as oil and gas interests in Texas, Alberta, and British Columbia as well as other areas yet to be announced. More can be learned at http://www.indocan.com/.

  We seek "Safe Harbor"

  Company Info:  604-929-7224, Jeffrey R Bruhjell, president

  CONTACT:  Investor Relations, Ken Ash, 252-728-2925.


DATASOURCE: Indocan Resources Inc.



CONTACT:  Investor Relations, Ken Ash, [phone], for Indocan

Resources Inc.



Web site:  http://www.indocan.com/ 

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