OEL

Octant Energy Corp. (TSX VENTURE:OEL) (the "Company") is pleased to announce
that, subject to regulatory approval, it has granted a total of 170,000 options
to purchase common shares of the Corporation ("Options") to an officer of the
Company in accordance with the Company's stock option plan. The Options expire 5
years from the date of grant, will vest immediately and all Options have an
exercise price of $0.11 per common share.  


The Company has determined that the exemptions from the various requirements of
the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are
available for the issuance of the Options to the officer of Octant (Formal
Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair
Market Value Not More Than 25% of Market Capitalization). 


About Octant: 

Octant is a Canadian independent oil exploration company focused on
international exploration and development assets.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Octant Energy Corp.
Richard Schmitt
CEO and President
North America: +1 (403) 470-6591
rick.schmitt@octantenergy.com

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