Surge Energy Inc. Announces Stock Option Grants

CALGARY, July 21 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSXV: SGY) announces that it has granted 75,000 stock options to officers and directors of the Company at exercise prices of $5.77 and $5.80.

The stock options have been granted pursuant to the Company's stock option plan and one third of the options granted will vest on the each of the first, second and third anniversaries of the date of grant. Subsequent to this stock option grant, Surge will have a total of 1,730,666 stock options outstanding.

Surge is an oil focused junior oil and gas production company operating in Western Canada. Surge's common shares trade on the TSX Venture Exchange under the symbol SGY and the Company currently has 47.6 million basic and 51.8 million fully diluted shares outstanding.

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 release.

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For further information: Dan O'Neil, CEO, Surge Energy Inc., Phone [phone], Fax [phone], Email [email protected]; Max Lof, CFO, Surge Energy Inc., Phone [phone], Fax [phone], Email [email protected]